Evening Republican, Volume 20, Number 25, Rensselaer, Jasper County, 29 January 1916 — Building and Loan Directors Held Second Monthly Meeting. [ARTICLE]

Building and Loan Directors Held Second Monthly Meeting.

The directors of the Building, Loan 6 Savings Association and Secretary Dean met Friday evening at the home of T. M. Callahan and transacted a small accumulation of business, allowing a few bills and discussing some affairs of the business. Secretary Dean reported that practically all who had pledged stock had paid the first month’s installment and that the others had promised to get in by Monday, the last day of the month and the last opportunity to become initial stockholders. Most of the 107 persons who subscribed for stock took the Class B stock, which is paid in installments of $2 per month per share. There are a few who took the Class C stock, which is paid in weekly installments of 25 cents. It is expected that in time this stock will prove very popular and it is a very fine savings plan as it shares in the full earnings of the association which, based upon the history of othef associations over the state should be from 7 to 10 per cent. Any one who desires can take stock at any time and all that is necessary is to make application to Secretary Dean. By paying Monday, Jan. 31st, for the month of January, subscribers for this stock will be among the original stockholders, but the stock will be open at any time. Secretary Dean reported that he had applications on file to borrow $7,000 and this is more money than the association will have coming in through ordinary channels and it may become necessary to sell some more of the Class A or preferred stock. This has a guaranteed dividend of 6 per cent and so far S6OO worth of it has been sold. Probably the directors, who control the issue of this stock, will be able to take care of a few hundred dollars in the spring and persons having some money that they care to put out on this basis should talk to Mr. Dean about it.