The National Building

The National Building

The National Building & Loan Herald Volume 6 by Books Group

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Author: Books Group
Page Count: 164 pages
Published Date: 01 Mar 2012
Publisher: Rarebooksclub.com
Publication Country: Miami Fl, United States
Language: English
Type: eBook
ISBN: 9781130484014
File size: 49 Mb
Download Link: The National Building & Loan Herald Volume 6
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1894 Excerpt: ...has adopted a novel plan of guaranteeing a registered issue of $100,000 of 7? cash dividend stock, by depositing a bond for $100,000 with the Columbia National Bank, of Buffalo, as trustees for the owners of this issue The bond secures the payment of interest and principal. The plan of the " Buffalo" is modern and equitable and, while slow of growth, it has evidently a prosperous future. The "Granite State," of Manchester, N. II., has been examined and endorsed by a committee from Borne, N. Y. They found the association in robust condition, its securities well chosen, the accounts kept in a highly systematic manner, and the concern in excellent credit at home. Expressions of conlidence and commendation make up the report, from which it is safe to presume that the Home branch will grow rapidly. The "Guarantee Savings," of Washington. D. C will soon enter New York, Indiana, and, perhaps, one or two other States, where the requirement of large deposits of cash, bonds or convertible securities has hitherto rendered them practically closed to foreign companies. The record of business for the first three months of this phenomenal association is 11,492 shares. Over four hundred thousand of its guaranty capital has already been loaned. The "German National," of Pittsburgh, has published its first annual report. The shares sold during the year amount to 37,096, shares withdrawn 6 920, leaving a net balance of 80.176. These are running shares. The shares that stand on their dignity are i'57, and the shareholders are 3,338 There have been 73 loans, amounting to $84,20w. and the total assets are $89,274. This is not exactly the twenty-five millions that Promoter Andrew Marshall predicted for the association at the end of its firs...

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