Evening Republican, Volume 21, Number 6, Rensselaer, Jasper County, 9 January 1917 — HAS BEEN A YEAR OF GREAT DEVELOPMENT [ARTICLE]

HAS BEEN A YEAR OF GREAT DEVELOPMENT

: **'••:•*'*■ . r . r , • •. Rensselaer Building and Loan Aaaaciation Makes a 'Marvelous i._ Record. The fifst annual session of the Rensselaer Building and Loan Association was held in the court room in the court house Monday night. The association shows a wonderful record and everybody connected with it was more than pleased with the showing made. „ The association is made up of four classes of stock: Class A Stock is payable in advance at SIOO.OO. This stock draws 6 per cent interest per annum. Thirty-five shares of this stock has been subscribed and the amount raised thereby is $3,500. , Class B* Stock is payable at the rate of $2.00 per month. This stock participates in the earnings of the association.' Four hundred and ‘fortyeight shares have been subscribed and the amount of money raised from this stock is $9,581.00. Class C stock is payable at the rate of 25 cents per month. There are twelve shares of this stock and $181.75 has been subscribed in this class.

Class D is borrower’s stock, of which there are two hundred and eighteen shares and $579.25 has been raised in this class. One' hundred and sixty different people own stock in this association. The earning in interest and fees has amounted to $1,031.59. This association has made loans on nine new buildings this year amounting to $13,250, and on old buildings improved $6,550, making' a total amount of money loaned of $20,800. The association has borrowed $7,060. One loan has been refunded and seven parties have cancelled their stock. The reports of D. D. Dean, the secretary, and Ray D. Thompson, the treasurer, were read and approved. The auditing committee made its report showing the reports of the above officers were correct. Directors were elected to serve as follows: B. F. Fendig for a period of three years. <G. E. Murray and Thomas Callahan for a period Of two years and George H. Healey and George Williams for a period of one year. Geo. H. Healey, J. H. Holden and Charles M. Sands were appointed as a booster committee to sell Class C stock. O Under the head “Good of the Association,” theer were a number of remarks made complimenting the officers of the association for the splenddid work that had b£fen done. The directors will Jrold a meeting in which the officers for the ensuing year will 'be appointed. The Rensselaer Building and Loan Association has enjoyed a year of progress beyond the expectation of its most enthusiastic Supporters. The service it can render the community will enable it to continue to develop.