Evening Republican, Volume 17, Number 138, Rensselaer, Jasper County, 10 June 1913 — Save Given Up Project to Start B. and L. Association. [ARTICLE]

Save Given Up Project to Start B. and L. Association.

Some local parties who had thought seriously of starting a permanent building and loan association have about decided after investigating the associations in other cities and towns to give up the project. It was found that the associations are very difficult to get started and that the expense is great for several years or until Ihere is a permanent business established and that the earnings are not sufficient ’or the interest is too high on the borrowers in getting started. At Goodland there is a flourishing association, but the officers reported that it was a long time before it was on a paying basis. Now the company does not confine its business to Goodland, but has agencies in several other towns and will probably establish one hire. At Monticello a local association is said to be having a struggle for existence, while the Goodland association is doing ’about half the business in Monticello. The cost of getting started has discouraged those here who thought of trying to establish a building and loan association in Rensselaer.