Evening Republican, Volume 20, Number 88, Rensselaer, Jasper County, 12 April 1916 — BUILDING AND LOAN MAKES FINE SHOWING [ARTICLE]

BUILDING AND LOAN MAKES FINE SHOWING

Total of 489 Shares of Stock With Loans of $5,860 Since Starting— More Members Needed.

The first quarter’s business of the Rensselaer Building, Loan & Savings Association shows that its promotion was timely and that it will be able to accomplish a great amount of good, will prove a fine investment and a great boon to building enterprises in Rensselaer. The fourth monthly installment of dues was paid last Saturday, almost all of the stockholders paying on that day or previous to that day. The by-laws provide a fine for failure to pay by the second Saturday of the month and this feature of the Jaw is henceforth to be enforced, *for the reason that the money loaned to members is authorized in advance and the associatioh keeps its resources loaned up and all the money is needed when due. There have so far been issued 26 shares of Class A or paid up stock, 393 shares of Class B, or monthly payment stock, and 12 shares of Class Cor weekly payment stock. The association has loaned so far $5,850 and has applications on hand for SIO,OOO. The directors hope to provide for all loans that meet the approval of the loan committee, but will be unable to do so unless more stock is sold and it is planned to have some further soliciting done, probably by Secretary Dean and one or two of the directors. There were many who were not seen when the original list was made up and who failed to respond later and they will now be given an opportunity to start in. The association is permanent and stock can be issued any month. The Classi A or paid up stock is at the option of the trustees but it is probable that they will approve the issue of several hundred dollars of this stock now, as there is use for the money. It has a fixed and guaranteed rate of interest, payable annually. Class B stock is payable at the rate of $2 per month per share and Class C is payable 25 cents each week. At present about SI,OOO per month is being paid into the association and it is hoped to build it up to double that amount. Nothing has been organized in recent years that will prove such a splendid benefit to Rensselaer as this building and loan association and those who desire to save a little money and place it working at a good rate of interest can not do any better than invest it in the building and loan association and Delos Dean, the secretary, will be pleased to receive application for stock from persons either at home or in other places.