Ligonier Banner., Volume 54, Number 7B, Ligonier, Noble County, 23 April 1920 — Page 3

Vait for Your Ship | e . s ‘ ' S | ~ to Come in if You Dont Send One Out? While Money Can be Earned by Labor, it Can Be Multiplied Only by Investment ~ Assoonasa saVings investment is undertaken, immediately a strong incentive is created to increase earniﬁgs in order that the savings may be accomplished without curtailing accustomed comforts. » o

. ° Y Our Customers are Buying ~ The great number of Qur Cuﬁtomers who havo alrca_dy token "a'dvantago of the splendid investment opportunity created by the offering of the Indian & Michigan Electric Companv of it 7% Cumulative Preferred Stock have a two-fold benefit. First. they are forming the Savingo and Thrift habits—the basis of every “;ell-halanced, happy -and contented life. Second they are-fired with an ambition to earn more in order that they may accomplish the saving without sacriﬁciriiz the luxuries and comforts to which they are accustomed. . ' : : .

€-R 0 ; Solid Investment—High Interest The issuance of this Cumulative Preferred Stock has been authorized by the Public Service ° Commission. It is exempt from Indiana State Personal Tax, and the dliidendé are free from Federal Income Tax : “ : g - The very nature of this business prevents the extension of the customer ownership idea by the sale of stock on a speculatives basis. This stock provides an equity investment, and you become in fact, a part owner in this business. Your prefemd_stock will be protected in the respect that dividends must all be paid before the common stock can make a return. £ i You will therefore clearly understand that preferred stock in thié company represents a solid . investment yielding dividends—every quarter .- : g ~ Whenever a new house goes up in your neighborhood, or a new factory. is started in town, it means more business for the I. &M. Electric Company. By investing your savings with this soundly managed utility company; you make an illirestment right at home that pays a regular and certain income to you in the form of dividends. ° o | e A - Possibly you have.seen tables showing how fast money grows at 3% interest, if the interest is re-deposited _imd compounded. If a 3% annual return will accomplish striking results, consider what a steady income of 7% will do. The following table will serve as an illustration. - | o | TABLE | e ~_This table shows what a $lO a month will amount to if invested in the preferred stock of this Company. ‘ - Time | You Pay in " You Get - Surplus L ‘ 10 YORES ..iiiciinisn i BEOO T sitiB. - . $5lB : 11 years 2 months verserernnenssl34o _ $2OOO = . $660 ‘ = This table could be extended indefinitely, but this will serve to prove the mighty eai'ning- » power of compound interest. S S ' : : » When you buy the preferred stock of this company you have invested your money in the business. The property and business back of tlns investment are permanent. i -

' Reasons for Offering this Stock Our business is to furnish electricity for light and power to the people and industries of the St. Joseph Valley. It is the purpose and aim of the Company to perform this duty and privilege faithfully and constantly aud to fully meet every requirement of its customers. We believe vou will agree that our service has been first-class in every respect and has in the past met every requirement that has been expected of it. : During t.he_ preceding three or four years when many utilities have been forced to restrict their service, we have, as you gﬁknow. been in position to supply all demands for electric energy and power made us. We have always maintained that the interests of the Company and of the people which we -.serve are identical, and in order to stimulate this mutual interest it has been decided to offer the 7% Preferred Cumulative Stock of the company to our cu;tdmers and those interested in the upbuilding of the St. Joseph Vaﬂey. _ : . < 3 : cl : Under this arrangement the 7% Cumulative Perferred Stock of the Company can be purchased at $lOO.OO per share, payable elmef in cash or on time payments. Under this arrangement each purchaser of said 7% Cumulative Preferred Stock will be paid dividends quarterly at the rate of 1% % on the first of January, April, July and October. . . : s : L r e ‘Should you desire to purchase on time payments, which plan contemplates an initial payment of $lO.OO per share and monthly ‘payments of 10% per month thereafter, interest at the rate of 6% per annum will be allowed on such monthly payments. Payments by the purchaser can be made in full at any time and the stock certificate will be delivered when the final payment is made. o L e s The reason for offering this stock are two-fold: First, we desire. as many of our customers as possible to become interested in the Company: Second the tremendous growth of the territory and the resulting demand upon the company ‘makes it necessat’y that we secure additional funds to take care of this increasing business. Those who have resided any length of time in the territory which we serve are familiar with the rapid and healthy growth of the property and are acquainted with mmnﬂ:::dm owners, most of whom have been &quctly associated wg"thrthe Company since its inception. | The chief advantage of theCumulitive Pre Stock plan Is systematic saving plus a high rate of interest. Money Invested today In Preferred Stock will have mighty big buying power when prices become mormal. ... L Joih G g s <.+ It you have not already become a preferred stockholder h.tﬂlmrwfon it to yourself to give it some yery serious consideration—right now?! This Cumulative Preferred Stock forgale by following banks: =~ = . = el e American Trust, South Bend e aronbin T Let N R I v o North ‘Side Trust sud Savings, Mishawsks =l5 . o o' Mishaweks Trysh st fdvings Midawaks . - 0L G

INDIANA & MICHIGAN ELECTRIC COMPANY

TEE lIGONTER BANNER, LICGONIER, INDIANA

e ; ) S -~ Gilt Edge | Start today to provide for tomorrow. Culiivate efficiency by forming the saving habit. Personal efficiency is always necessary to succeed, and it usually depends upon personal thrift - - By purchasing some of our 7% Cumulated Preferred Stock, either on our cash or time payment plan, you will acquire a feeling of efficiency and independence that in actual dollars and cents will be worth a whole lot to you. : If you have not already taken advantage of this investment, we urge that you give it your prompt and serious consideration. Here is an opportunity to insure sound investment by becoming a preferred stockholder in one of our most necessary and prosperous local enterprises—a business backed by modern physical properties of great value, careful and progressive business management and long record of dividend-paying success.

- Customer Ownership ; ‘-‘Cuotomer Ownership” represents a willingness on the part of ha vutil'l’ty Ac‘ompanies 1o take the people into partnership and to share uhatevef profits there rhaf be. - i . th the'aidof the partial payment plan it .gives every worker who con oive a dollar an opportuniy to become a part owner of the property and to receive a good return upon his investment, at the same time providing him a safe and absolutely sound investment in an ‘enterprise which is sel'ving and helping to build up his own co.mmunity,.‘anrd which he ecan have at all times under his personal observation. :‘ - - ' S T The opportunity that is gi\)rén' the people of o;-dinlu-y means to purchase gilt-edged securities in small amounts, on-the partial payment plan, in sound and growing public utility corporations in their own community is an unusual one, due to their high rate of interest and the unusual protection thrown around them, exemption from taxes, etc. i - . ' , - This stock unlike the stock of most corporations, is issued and sold only after investigation and approval by the Public Service Commissions of the respective states. This procedure safeguards the public against the issuance of unsound securities as well as protects them from excessive rates for the service which they render. While the state does not. guarantee dividends, it takes every reasonable meahs to assure an adequate return on honestly invested money. ‘ Before making an investment one should know about the stability and earning power of the oohcénl issuing the stock. ‘ ; i - : | ' : = ~ In making an investment one should feel reasonably certain that the business will continue to prosper as it has in the past. In fact—one should invest only with a business that is growing greater and more prosperous each day so as to insure profitable and ,iortlwvhile return on the moneyinvestevd..4 ; S D e g e D RO o

» ! . - : - Avoid Speculation - When you purchase the 7% Cumulative Preferred Stock of the Indiana & Michigan Electric Company you are making a “gilt-edge” investment. We refer to the investment as “giltedge” because this business is open to the scrutiny of the Indiana Public Service Commission. This stock represents both actual ownership and a reasonably sure prospect of sustained returns far better than the rate of interest earned by the savings banks. : 5 » Amost any desired material purpose can be accomplist.ed by common sense planning—plus wise investment. But be careful. - Leave the speculatives schemes to the person-who can afford to lose money. e Eals s

: ¥ This Coupon Makes it Easy ; Mail this to the Indiana \ & Michigan Electric Co. | i M st it e it “vﬂntthislnqtdrydoeonot‘bhdmeinany,m. R