■■• ■ ■ • EiP ■few;, 1 .;;v &. ' ! tP Cornell University Library HD8051.A3 1893 Building and loan associations. 3 192 976 $W '...'. msmm : ■ ■ .: > ' ;•:'.■ THE LIBRARY OF THE NEW YORK STATE SCHOOL OF INDUSTRIAL AND LABOR RELATIONS AT CORNELL UNIVERSITY The original of this book is in the Cornell University Library. There are no known copyright restrictions in the United States on the use of the text. http://archive.org/details/cu31924002402976 NINTH ANNUAL REPORT or THE COMMISSIONER OF LABOR. 18 9 3. BUILDING AND LOAN ASSOCIATIONS. WASHINGTON: GOVERNMENT PRINTING OFFICE. 1894. CONTENTS. Page. Message of the President 5 Letter of Transmittal 7,8 Introduction 9-17 Chapter I. — General tables 19-323 Analysis of tables 21-31 Table I. — Name, locality, and description of associations 32-279 Table II. — Number and kind of associations 280, 281 Table III.— Number of series 282, 283 Table IV.— Number of shares 284-287 Table V.— Shares held outside of state 288, 289 Table VI. — Number and sex of shareholders 290, 291 Table VII. — Associations classified as to shareholders 292-294 Table VIII. — Associations classified as to borrowers 295, 296 Table IX.— Shareholders and borrowers 297-299 Table X. — Associations classified as to total real estate loans 300-303 Table XI. — Homes and other buildings acquired by borrowers during the lives of the associations 304, 305 Table XII. — Mortgages foreclosed during the lives of the associations. 306, 307 Table XIII. — Associations classified as to total stock loans 308-311 Table XIV. — Associations classified as to dues and profits 312-315 Table XV.— Assets and liabilities 316-319 Table XVI. — Classified occupations of shareholders in certain repre- sentative associations 320-323 Chapter II. — Special tablks 325-383 Analysis of tables 327-337 Table A. — Age of associations 338, 339 Table B. — Frequency of issue of series 340, 341 Table . — Shares, shareholders, and dues and profits 342, 343 Table D.— Entrance fee 344-347 Table E. — Frequency of payment of dues 348, 349 Table F. — Dues per share at each payment 350-353 Table G.— Maturing value of shares 354-357 Table H. — Number of shares allowed one person 358, 359 Table J.— Votes allowed , 360,361 Table K.— Transfer fee 362-365 Table L. — Existing real estate loans in certain representative asso- ciations 366, 367 Table M. —Individual real estate loans in certain renresentative asso- ciations PROPERTY OF LIB ! R A*KY 368 _ 371 a 4 CONTENTS. Chaptkr II. Special tables — Concluded. Page. Table N. — Interest rate charged on real estate loans in certain repre- sentative associations 372-375 Table O. — Average premium rate charged on real estate loans in certain representative associations 376-379 Table P. — Loans to other than shareholders 380, 381 Table Q. — Associations taking money on deposit 382,383 Chapter III. — Premium plans 385-424 Chapter IV. — Plans of distribution of profits 425-461 Chapter V. — Withdrawal plans 463-489 Chapter VI. — General legislation relating especially to building and loan associations 491-713 MESSAGE OF THE PRESIDENT. To the Senate and House of Representatives: I transmit herewith the Ninth Annual Eeport of the Commissioner of Labor. This report relates entirely to building and loan associations in the United States. Groves. Cleveland. Executive Mansion, Washington, May 1, 1894. 5 LETTER OF TRANSMITTAL. Department of Labor, Washington, D. C, May 1, 1894. Sir : I have the honor to transmit herewith the Ninth Annual Report of the Commissioner of Labor. ^.This report relates entirely to building and loan associations, and all other associations having for their purpose the objects of building and loan associations as they exist in the United States. In submitting this report I desire to acknowledge the valuable ser- vices of Mr Oren W. Weaver, the chief clerk of the Department; Mr. G. Wallace W. Hanger, who has had charge of the tabulation of returns; Mr. M. D. Mull, who has worked out the different plans for the distribution of profits, Mr. A. Hildebrand, who has performed a like service as regards the premium plans, and Mr. V. H. Olmsted, who analyzed and prepared the withdrawal plans, and with Mr. S. D. Fes- senden compiled the laws of the various states relating to building and loan associations. The Department was fortunate in securing the interest and services of Mr. Michael J. Brown, of Philadelphia, who has been interested in building and loan associations for many years and who saved the Department a great deal of labor in the collection of addresses of associations. State and national bodies, consisting of del- egates from various associations, were of great service in the conduct of the investigation through resolutions adopted urging constituent bodies to furnish information as called for by the agents and experts of the Department. Besides preparing this annual report, during the past year the Depart- ment has been engaged upon two special reports, one relating to the housing of labor and the other relating to the social statistics of cities, an investigation ordered by Congress. These reports will be forwarded to you in a few weeks. The field force of the Department is now engaged in collecting statistics relating to strikes and lockouts, the results of which, should they be gathered in time, will form the Tenth ' 7 8 LETTER OP TRANSMITTAL. Annual Eeport. The Third Annual Beport was devoted to that sub- ject, comprehending data from 1881 to 1886, inclusive. The pending investigation will bring the record of strikes and lockouts down to June 30, 1894. I am, very respectfully, your obedient servant, Carroll D. Wright, Commissioner. The President. INTRODUCTION. INTRODUCTION. Building and loan associations have existed in this country since about 1840, although the first organization of the kind of which there is any record was organized at Frankford, a suburb of Philadelphia, January 3, 1831, under the title of the Oxford Provident Building Associa- tion (a) ; but the decade from 1840 to 1850 can be considered as being the real period for the permanent inception of such associations. It is not essential in this place to trace the history of the origin, growth, and spread of these associations, for such historical data have been given in the works cited. The chief purpose of the investigation was to ascertain the financial and economic conditions accompanying these associations, the magnitude of the business conducted, and such facts as would tend to enlighten the public on a unique private banking busi- ness, of which but little has been known beyond the mere knowledge of the existence of such institutions. In this investigation the term building and loan association has been used in a general sense, although institutions covered by the investigation and having like purposes, methods, and processes of busi- ness have various names — among others, mutual loan associations, homestead aid associations, savings fund and loan associations, cooper- ative banks, cooperative savings and loan associations, and other simi- lar titles. The object of the building and loan association, using the term as stated to cover all kindred organizations, is to furnish a safe means for the accumulation of savings, accompanied with an opportu- nity to secure money at reasonable rates for the purpose of building homes. Mr. Charles F. Thompson, in his Treatise on Building Associ- ations, gives a very excellent definition of the organizations under con- sideration. He says: The building association as now existing is a private corporation designed for the accumulation by the members of their money by peri- odical payments into its treasury, to be invested from time to time in loans to the members upon real estate for home purposes, the borrow- ing members paying interest and a premium as a preference in secur- ing loans over other members, and continuing their fixed periodical ' instalments in addition, all of which payments, together with the non- borrower's payments, including fines for failure to pay such fixed instalments, forfeitures for such continued failure of such payments, fees for transferring stock, membership fees required upon the entrance a See How to Manage Building Associations, by Edmund Rigley, published in 1873 ; also, A Treatise on Cooperative Savings and Loan Associations, by Seymour Dexter, New York : D. Appleton & Co., 1891 ; and A Treatise on Building Associa- tions, Adapted to the Use of Lawyers and Officers, by Charles N. Thompson, Chicago : Callaghan & Co., 1892. 11 12 REFORT OF THE COMMISSIONER OF LABOR. of the member into the society, and such other revenues, go into the common fund until such time as that the instalment payments and profits aggregate the face value of all the shares in the association, when the assets, after payment of expenses and losses are prorated among all members, which, in legal effect, cancels the borrower's debt and gives the non-borrower the amount of his stock. It is seen, therefore, that every member of a building and loan associ- ation must be a stockholder; but the difference between a stockholder in such an association and that in an ordinary corporation for usual business purposes lies in the fact that in the latter the member or stock- holder buys his stock and pays for it at once, and usually is not called upon for any further payment. His profits, or the results of his invest- ment in such stock, are derived through dividends, the value of the shares depending upon the successful operation of the business. They often go above par when the corporation is doing a profitable business, and the value often drops far below par when disasters come. In the building and loan association, on the contrary, the stockholder or member pays a stipulated minimum sum, say one dollar, when he takes his membership and buys a share of stock. He then continues to pay a like sum each month until the aggregate of sums paid, augmented by the profits, amounts to the maturing value of the stock, usually $200, and at this time the stockholder is entitled to the full maturing value of the share and surrenders the same. It is seen clearly, then, that the cap- ital of a building and loan association consists of the combined savings of its members, paid to the association upon shares of stock, increased by the interest and premium which the association has received from loans made by it from the savings of its members thus paid to the asso- ciation, and from all other sources of income. The amount of the capi- tal of the association, therefore, increases from month to month and from year to year (a). Shares are usually issued in series. When a second series is issued the issue of the stock of the prior series ceases. Profits are distributed and losses apportioned before a new series issues. The term during which a series is open for subscription differs, but it usually extends over three or six months and sometimes a year. Prior to the maturing of a share it has two values. One is called the holding or book value and the other the withdrawal value. The former is ascer- tained by adding all the dues that have been paid to the profits that have accrued; that is to say, the holding value is the actual value of a share at any particular time. The withdrawal value, on the contrary, is that amount which an association is willing to pay to a shareholder who desires to sever his connection with the association prior to the date at which his share will mature. Every association has full regulations on all such matters, as well as on matters pertaining to expenses, notice of withdrawal, and all the methods and processes necessary for the safe conduct of the business. The purchase of a a See A Treatise on Cooperative Savings and Loan Associations, by Seymour Dexter. INTRODUCTION. 13 share binds the shareholder to the necessity of keeping up his dues, and thus secures to him not only all the benefits of a savings bank but the benefit of constantly accruing compounded interest. This accomplishes the first feature of the motive of a building and loan association. The second is that of enabling a man to borrow money for building purposes. Ordinarily, a shareholder who desires to build a house and has secured a lot for that purpose may borrow money from the association of which he is a member. Suppose a man who has secured his lot wishes to borrow $1,000 for the erection of a house. He must be the holder of five shares in his association, each share having as its maturing value $200. His five shares, therefore, when matured, would be worth $1,000, the amount of money which he desires to borrow. The process by which he can borrow this money differs from that of borrow- ing money from savings and other moneyed institutions. In a building and loan association the money is put up at auction usually iu open meeting on the night or at the time of the payment of dues. Those who wish to borrow bid a premium above the regular rate of interest charged, and the one who bids the highest premium is awarded the loan. The man who wishes to build his house, therefore, and desires to borrow $1,000, must have five shares of stock in the association, must bid the highest premium, and then the $1,000 will be loaned him. To secure this $1,000 he gives the association a mortgage on his property and pledges his five shares of stock. To cancel this debt he is con- stantly paying his monthly or semi-monthly dues, until such time as the constant payment of dues, plus the accumulation of profits through compounded interest, matures the shares at $200 each. At this time, then, he surrenders his shares and the debt upon his property is cancelled. The question as to whether this method of obtaining money for the building of homes is more or less economical than that of obtaining it from the ordinary savings banks or through private money lenders will be taken up later on. What has been said is simply for the purpose of showing what a building and loan association is, and briefly how its business is conducted. It will be seen at once, from what has just been said, that investment in a building and loan association is as nearly absolutely safe as it can be, for the monthly dues and the accumulated profits, which give the active capital of the association, are loaned, or sold as it is termed by the association, as fast as they accumulate. They are immediately loaned upon real estate, or upon the stock of the association itself. The opportunities for embezzlement, therefore, or for shrinkage of securities, are reduced to the minimum, and the almost absolute safety of the investment secured. This will appear more clearly in the analysis of the general tables. The growth of these associations in the United States has been very rapid since 1840, and their accumulated assets have increased to an enormous amount. These private corporations, doing a semi-banking business, conducted by men not trained as bankers, offer a study in 14 EEPORT OF THE COMMISSIONER OF LABOR. finance not equalled ! by any other institutions. England, Prance, and some other countries have kindred institutions, but nowhere have they grown to such vast proportions as in the United States. The investigation, the results of which are now under consideration, comprehends practically all building and loan associations in the United States. An effort was made to secure the facts for these associations as they existed at the end of their respective fiscal years nearest to January 1, 1S93. In a few cases, however, this was not possible, and the facts for an earlier or later fiscal year were taken instead. The number of associations considered in the preparation of the tab- ular statements in this report was 5,838, of which 5,5&8 were local and 240 national. A presentation of these associations, distributed accord- ing to states and territories and showing the per cent of the local and the national in each state and territory and in the United States, imme- diately follows : NUMBER 01- ASSOCIATIONS CONSIDERED. States and territories. Alabama Arizona Arkansas California Colora-.lo Connecticut Delaware District of Columbia Florida Georgia Idabo Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico "New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Washington West Virginia Wisconsin Wyoming Total Number. Local. National. 23 4 32 125 42 15 21 20 21 31 4 631 420 81 71 131 26 29 237 115 72 82 30 349 7 Oli 1 16 390 21 5 718 1 14 ,076 Total. 27 4 32 133 46 15 21 29 23 43 4 669 445 89 72 148 28 29 240 115 75 97 32 306 8 70 1 17 2^s 5 418 25 6 721 1 17 ,079 6 4S 17 78 41 6 83 17 56 42 5,838 Per cent. Local, i National. 85.19 100. 00 100. 00 93.98 91. 30 100. 00 100. 00 89.66 M. 30 72.09 100. Oil 94.32 96.4D 91.01 98.61 88.51 92. 8B 100. 00 98.75 100.00 96.00 84.54 93.75 95.36 87.50 94.29 100. 00 94.12 99.31 100. 00 93.30 96.00 83.33 99.58 100. 00 82.35 99. 72 100. 00 100. 00 82.35 78.21 95.12 83.33 91.57 82.35 96.43 92.86 100. 00 6.02 8.70 10.34 8.70 27.91 5.68 3. 60 8.99 1.39 11.49 7.14 1.25 4.00 15.46 0.25 4.61 12.50 5.71 5.88 .69 6.70 4.00 10.67 .42 17.65 .28 17.65 21.79 4.88 16. 67 8.43 17. C5 3.54 7.17 95.89 INTRODUCTION. 15 In addition to the associations from which the data have been received that constitute the body of this report, the Department has informa- tion of the existence of some others. From a very few of these some details were obtained, but from most of them nothing. The informa- tion as to the existence even of most of them is from hearsay only. They are unimportant, being either newly formed or feeble. Nearly all are supposed to be local. The following statement shows the number of these associations in the various states and territories : Alabama, 2; California, 1 ;• Georgia, 1 ; Illinois, 16; Indiana, 8; Iowa, 1; Kansas, 4; Louisiana, 1; Maryland, 6; Massachusetts,!; Michigan, 3; Minnesota, 2; Mississippi, 1; Missouri, 1; Montana, 2; Nebraska, 3; North Carolina, 1; North Dakota, 1; Ohio, 3; Oklahoma, 1; Penn- sylvania's; Utah, 1; Vermont, 1; Virginia, 2; West Virginia, 2; Wis- consin, 1; Wyoming, 2. Total, 91. The preceding table shows that reports were obtained from 5,838 associations in all, including locals and nationals. Bringing the gen- eral results of the investigation into as brief a space as possible, we have the following statement: GENERAL EESDLTS FOR THE UNIT2D STATES. National. Total. Number of associations Male shareholders in associations reporting Female shareholders in associations reporting Total shareholders 4n associations reporting Average shareholders per association reporting Shareholders who are borrowers in associations reporting. . Per cent of borrowers in associations reporting Number of shares in associations reporting Total dues and profits Average shares per shareholder in associations reporting. . Average dues and profits per shareholder hi associations reporting. Average. value of shares in associations reporting Total proGts Average size of loans in associations reporting Homes acquired in associations reporting 5,598 a 710, 156 a 263, 388 6 1, 359, 366 6214.5 c 402, 212 c 29. 83 d 10, 381, 031 $413, 647, 228 e 7. 6 e $303. 11 a $39. 75 $74, 402, 969 / $1, 133 g 290, 803 240 a 209, 458 a 44, 440 6386,359 6 1, 637. 1 c 53, 199 C13.77 d 2, 874, 841 $37, 020, 366 e 7 2 e $86, 73 e $12. 12 $6, 261, 147 /$920 g 23, 952 5,838 a 919, 614 a 307, R28 61,745,725 6 301.2 e 455, 411 c 26. 25 d 13, 255, 872 $450, 667, 594 e 7 5 e $257. 26 e $34. 18 $80, 664, 116 / $1,120 g 314, 755 a Associations not reporting, local, 1,503 ; national, GG ; total, 1,569. 6 Associations not reporting, local, 38; national, 4; total, 42. c Associations not reporting, local, 69; national, 4; total, 73. d Associations not reporting, local, 18; national, 4; total, 22. e Eased on 5,535 local associations, 226 national associations, total, 5, 761, / Based on 2,128 iocal associations, 45 national associations, total, 2,173. g Associations not reporting, local, 1,326; national, 68; total, 1,394. The total dues paid in on instalment shares in force plus the profits on the same of the building and loan associations of the country, as stated, amount to $450,667,594. A business represented by this great sum, conducted quietly, with little or no advertising, and, as stated, without the experienced banker in charge, shows that the common people, in their own ways, are quite competent to take care of their savings, especially when it is known that but 35 of the associations now in existence showed a net loss at the end of their last fiscal year and that this loss amounted to only $23,332.20. Of course, associations disband for the want of business or from some other cause, but when 16 REPORT OP THE COMMISSIONER OP LABOR. they disband loss does not occur, because the whole business of the association consists of its loans, and these loans are to its own share- holders, as a rule, who hold the securities in their associated forms. A disbanded association, therefore, simply returns to its own members their own property. The terms local and national have been used. A local building and loau association and a national building .and loan association conduct their business under substantially the same method. The local asso- ciation, however, confines its operations te a small community, usually to the county in which located, while the national operates on a large scale, extending its business enterprise far beyond the borders of its own state even. The national is ready usually to make loans on prop- erty anywhere and sell its shares to any person without reference to bis residence. At the present time the prejudice which has existed for many years against nationals is being overcome, and they are conduct- ing their business, as a rule, with the same integrity that the locals dis- play in the conduct of their affairs. There is a jealousy, to some extent, between locals and nationals ; but with proper laws in every state to regulate, control, and supervise both nationals and locals, as savings banks and all other banks are regulated and supervised, there ought to be little or no trouble in securing the honest administration of their affairs. Some states bring their building and loan associations under the same general supervision of law thrown around savings banks. New York, Massachusetts, New Jersey, Ohio, Illinois, and some other states, as will be seen by the compilation of laws relating to building and loan associations published at the close of this work, require such associations to make annual returns in the same manner as savings banks. In other states, however, nothing is officially known of the building and loan associations beyond the formalities of their incor- poration. The states where supervision exists have reports, but no report relat- ing to the whole country has been published prior to this one. There had been private investigations of the methods of conducting building aid loan associations and of the facts relative to their business, but these have been based, so far as figures are concerned, largely unon estimates. It has been thought wise, therefore, in the interest of labor, to ascertain for public use all the leading facts surrounding the build- ing and loan associations of the country. The object has not been to furnish the opportunity of ascertaining the financial stabilitv or stand- ing of any particular association or to certify the condition of any such organization, but to furnish the public with the aggregate facts, both financial and economic, the character of associations, whether they are adhering to their original purpose, the class of people that patronize them, and all the leading points of interest and of value surrounding them. INTRODUCTION. 17 The names of all tlie associations, together with the date of organi- zation, designation as local or national, as permanent, terminating, or serial, the number of shareholders, male, and female, and total, the number of borrowers, the number of shares in force, and number of real estate loans for each association are given in Table I of the general tables. It was not thought wise to give all the other facts in detail for each association by name, for two reasons, the first being that many associations furnished the Department with information on the under- standing or under the promise that all such facts should be considered confidential, and further, because in some states it was exceedingly diffi- cult to secure any information on account of pending legislation looking to the taxing of building and loan associations. While, therefore, it would have been very desirable, from some points of view, to publish all the facts contained in this report for each association by name, the foregoing reasons have prevented such publication. The method adopted, therefore, has been to give the names and facts just enumer- ated in Table I, and then to summarize all the other facts relating to building and loan associations into totals for each state. The number of associations in each state given in this report will not always be the same as that given in state reports. The variation, how- ever, is probably very slight in any instance, and comes from the fact that a different fiscal year has been used, or from the fact that some associations have been abandoned and some organized since a state report was issued. The Department of Labor has not taken into con- sideration the abandoned associations, and therefore can not expect its statements as to numbers to tally at all times with local reports. H. Ex. 209 2 CHAPTER I. GENEBAL TABLES. 19 CHAPTER I. GENERAL TABLES. This chapter is devoted to the presentation and analysis of the gen- eral tables relating to building and loan associations. Chapter II pre- sents, in tabular form, certain facts derived from the schedules used in this investigation but not included in the general tables. These gen- eral tables are sixteen in number and are designated as follows: I. — Name, locality, and description of associations. II. — Number and kind of associations. III. — Number of series. IV. — Number of shares. V. — Shares held outside of state. VI. — Number and sex of shareholders. VII. — Associations classified as to shareholders. VIII. — Associations classified as to borrowers. IX. — Shareholders and borrowers. X. — Associations classified as to total real estate loans. XI. — Homes and other buildings acquired by borrowers during the lives of the associations. XII. — Mortgages foreclosed during the lives of the associations. XIII. — Associations classified as to total stock loans. XIV. — Associations classified as to dues and profits. XV. — Assets and liabililies. XVI. — Classified occupations of shareholders in certain representative associations. These tables will be taken up seriatim. Table I. — Name, locality, and description of associations, pp. 32 to 279. — In this table the associations are taken up separately and arranged alphabetically under the states, counties, and cities or towns in which located. Nearly always the exact legal and official names of associa- tions are used, but occasionally, for the sake of brevity or for other reasons, slight changes are made. They are believed, however, to be suf- ficiently distinctive in every case. In the column showing the date of 6rganization has been given, as nearly as possible, the date on which the associations began business. In a few instances where this date was not known the date of incorporation has been given in its stead. The next column shows the scope of the associations, describing them as local or national. The associations are further described as regards the three plans of issuing shares, the serial, the permanent or perpetual, and the terminating. These plans are described as follows in the 21 22 REPORT OF THE COMMISSIONER OF LABOR. work, A Treatise on Cooperative Savings and Loan Associations, by Seymour Dexter : In the primitive building associations of Philadelphia there was but a single series of stock issued; every person taking shares of stock, subsequent to the date of the first issue of shares, was obliged to pay back dues in order to be in the same position he would have been had he taken his stock at the date of the first issue, so that each share- holder paid the same amount per share into the association regardless of the time when he took his shares. The money was loaned only to shareholders. Inasmuch as only one series of stock was issued the lifetime of the association was limited to the time that it took for the shares to reach their matured value. This scheme necessarily involved the condition that every shareholder remaining in the association at the time the stock matured must be a borrower to the amount of the matured value of shares held by him. Let us make this clear. Sup- pose the charter of the association limited the number of shares it could issue to five hundred, and that during its lifetime it had issued that number. After the payment of its running expenses the funds received could be used for only two purposes, namely, the making of loans to its own members and paying shareholders who withdrew. Suppose that of the five hundred shares issued three hundred had been withdrawn, leaving two hundred outstanding when attaining their matured value. Assume the shares were $200 each at their matured value. Now, two hundred shares at $200 each is $40,000. Before the shares can be matured the association must have $40,000 of assets. The assets consist of the money due from the shareholders to the asso- ciation upon loans. As no shareholder can borrow a larger sum than the matured value of the shares held by him, it follows that no share- holder can owe the association for borrowed money a larger sum than the association will owe him when his shares of stock have matured; therefore, each shareholder must owe the association a sum equal to that which the association will owe him upon his matured shares. The only limitation or exception to this statement of the case will arise in reference to the dues paid at the iast meeting. The amount of those dues will not have been borrowed and will be due to some shareholder or shareholders in excess of the amount owing by him or them to the association. But as the association progresses from year to year towards the maturity of its stock, it might not happen that there are shareholders who desired to borrow. What then"? It Avould not do to have the dues paid in from month to month remain uninvested; no profits would accrue, and the result would be unsatisfactory. Under the scheme of a single series the association has the power to compel shareholders to borrow the funds. They are called forced loans; and their articles of association and bylaws determine who shotild become the borrower when there are no shareholders wishing to borrow. This scheme is known as the terminating plan. It involves three serious defects which it was very desirable to obviate, namely, the dissolution of the association when the stock matured; the large amount of back dues which the new stockholder would have to pay who took stock after the association had been running for some time and, lastly, the making of forced loans — that is, compelling the share- holder to become a borrower whether he wanted to do so or not. To overcome these defects the serial scheme was developed. Under this scheme a new series of stock was issued at the beginning of each CHAPTER I. GENERAL TABLES. 23 fiscal year, or half-yearly. In some instances series have been issued quarterly, and even oftener. This is known as the serial plan. This change in the scheme obvi- ated two of the defects in the single series scheme. It permitted the association to become perpetual, and it furnished a new series of stock so often that one taking stock at any time in the current series did not have a large amount of back dues to pay to place him in the same situ- ation that he would have been had he taken his shares at the first. As a matter of practical experience the serial plan also obviates, except in rare cases, the third defect. It permits of the accession of new stockholders, Avho become such for the express purpose of becom- ing borrowers. In the single series scheme, when an association had become two or more years old, the amount of back dues that they would have to pay on their stock in order to become shareholders, so that they might become borrowers, was a serious obstacle; while under the serial plan, the amouut was not large at any time. In a well-managed association, havjug the confidence of the community, there is usually no difficulty in finding those who wish to borrow the funds. But the scheme provides a mode to obviate an accumulation of funds that can not be loaned by providing a mode for compelling withdrawals. In the serial scheme it is deemed advisable, when a series matures, to have but comparatively few outstanding free shares. Hence, it is deemed a wise policy to encourage withdrawals in series approaching maturity. This is accomplished by increasing the per- centage of profits which the withdrawing shareholder is allowed as the series approaches its maturity. In addition to this policy many associations have provided that the withdrawal of stock maybe compelled after a series has attained a cer- tain number of years. In the case of a compulsory withdrawal the share- holder is allowed all the profits. The scheme of the Massachusetts cooperative banks has this provision, the number of years being placed at four or more. The scheme of the Sew York cooperative savings and loan associations has the same provision, and places the age of the series at four years or more. While it is wise to thus provide a mode for compelling withdrawals, if necessityrequires it, to prevent the accumulation of uninvested funds, there will seldom be occasion for an association to avail itself of the provision. The single series, or terminating plan, has been almost wholly aban- donedin localities where these associations have been in operation long. Most of those that remain in such localities were formed years ago, and have not had time to run their course to a natural dissolution by the maturing of their stock. In some cases where an association is formed upon the serial plan, each series has been conducted separately, as though it was the only series of stock the association had outstanding, thereby making, in effect, as many terminating associations running under one management as there are series issued. This cumbersome mode of conducting the business has arisen from the fact that those who organized and con- ducted the association did not fully comprehend the proper mode of conducting the business in cases where all the series are run together, forming, in effect, a ]>artnership. There is still another scheme, which has assumed the name of the permanent plan. Under this scheme stock is issued at any time when there is a demand for it. The largest association in the state of New York, the Homestead Fund Association of Kochester, and the largest 24 REPORT OF THE COMMISSIONER OF LABOR. iii the state of Ohio, the Mutual Home and Savings Association of Day- ton, issue their stock upon this scheme. The latter association is one of the oldest, most successful, and largest associations in the United States. This scheme no more deserves the name permanent plan than the serial plan, as both make the existence of the association perpetual. The columns following the statement of the three plans of issuing shares give for each association the number of male, female, and total shareholders, the number of borrowers, the number of shares in force, and the number of real estate loans. For the reasons stated in the introduction, no other facts are given for each association by name. Table II. — Number and hind of associations, pp. 280, 281.— In all the general tables which follow, that is, from table II to XVI, inclusive, the facts are given for local and national associations separately, and both then brought into a total, and under all the groups the facts for each state and territory are summarized, a line being given to each. Table II shows the total associations and the number and per cent operating under each of the three plans of issuing shares — serial, permanent, and terminating — as just described under Table I, by states and territories. This table is in fact a summary, so far as kind of association is con- cerned, of Table I. It shows that there are 5,598 local associations, of which 3,168, or 56.0 per cent of the whole, are serial, 1,671, or 29.8 per cent of the whole, are permanent, and 759, or 13.6 per cent, are termi- nating; that of all the associations in the country 240 are nationals, 138, or 57.5 per cent of all the nationals being serial, 101, or 42.1 per cent, being permanent, and only 1 terminating. The whole number, including both locals and nationals, is 5,838, of which 3,306, or 56.6 per cent of the whole, are serial, 1,772, or 30.4 per cent, are permanent, and 760, or 13 per cent of the whole, are terminating. v Examining the total associations, including locals and nationals, it is seen that Pennsylvania leads all the states, having 1,079 associations. This state has but 3 nationals. The state having the next largest number is Ohio, with 721; and Ohio has but 3 nationals. Illinois comes next, with 669 associations of all kinds, 38of them being nationals. Indiana follows, with 445 associations, 16 of them being nationals. New York ranks next, with 418 in all, 28 of them being national associa- tions. The next largest numbers are found in Missouri, that state having 366 in all; New Jersey, 288; Maryland, 240; Kentucky, 14S; California, 133, and Massachusetts, 115. In all the other states the number drops to less than 100. The numbers given for the states, respectively, will not always agree with the numbers reported by each state in its local capacity or through its state officials. This results from the fact that the account taken by the Department of Labor was for a period in most cases differing somewhat from that for which the state officials have given reports, and, furthermore, from the fact that very many companies having names in their incorporation papers which would lead one to CHAPTER I. GENERAL TABLES. 25 consider them building and loan associations, upon examination are found to be entirely different. They are trust companies or associations for the purpose of erecting houses for rental and various other objects, taking them out of the rank of cooperative building and loan associa- tions as such. The state having the largest number of national associations is Illinois, with 38. It is usually supposed that the home of these asso- ciations is in the Northwest, and especially in Minnesota, but this state has only 15. There are several states having more than Minnesota, notably Tennessee, with 17; New York, 28; Missouri, 17; Kentucky, 17, and Indiana, 16. The nationals are distributed through other states in small numbers. The table shows how thoroughly building and loan associations are distributed throughout the country. Table III. — Number of series, pp. 282, 283. — This table includes serial associations only. By reference to the explanation of the three plans of issuing shares — the serial, permanent, and terminating — in the anal- ysis of Table I preceding, the reasons for the omission of the perma- nent and terminating associations from consideration iu this connec- tion will readily be seen. The table shows the total number of serial associations, and for each the number of series issued, matured, and in force, for each state and territory. The difference between the series issued and matured in certain instances is greater than the series in force, owing to the fact that some series were entirely withdrawn before the maturity of the shares. This table presents the facts for both local and national associations, and it will be seen that at the date of the conclusion of this investigation there had been 38,919 series issued, or an average of 11.8 series to each association, considering locals and nationals together. Of this whole number 5,321 had matured, this being an average of only 1.6 series of shares matured to each association. The number in force at the date named was 33,386, or 10.1 series to each association. Table IV. — Number of shares, pp. 284 to 287. — This table shows, for each state and territory and for the associations from which a report as to the number of shares could be obtained, the total and average number of shares issued, matured, and in force. The shares in force are classified in the table as free and borrowed on. The free shares are those which have not been used for the purpose of borrowing ; that is to say, they are the shares held by the shareholders, who have not borrowed upon them. The shares borrowed on are those which are in the hands of the asso- ciations as security for loans made to members, such loans being made either on the shares of the association alone or on shares and real estate as additional security. The facts as to the number of shares are shown in this table for both locals and nationals, and then by a summary for all associations, by which summary it is seen that of the 5,838 asso- ciations in the country 4,614 had reported the number of share- issued, the number being 20,415,799, an average of 4,433.4 shares to each 26 REPORT OF THE COMMISSIONER OF LABOR. association. The number of shares matured was reported by 5,357 associations to be 473,352, or an average of 88.4 matured shares for each association. The number of free shares, as explained, was reported by 5,770 associations, and the total number of such shares was 9,406,347, being an average of 1,630.2 shares to each association. The number of shares upon which loans had been secured was reported by 5,767 associations, the number being 3,649,479, or an average of 632.8 shares for each association. The total number of shares in force, free and borrowed on, was reported by nearly every association, 5,816 associations reporting 13,255,S72 shares in force, an average of 2,279.2 shares in force to each association. In addition to shares for purposes of investment and as security for loans, several associations issue in connection therewith so-called endowment stock. This stock is issued for the benefit of such mem- bers as may desire to protect their investments from the consequences of death before the maturity of their stock, and especially for the ben- efit of borrowing members. Arrangements are made by such associa- tions with a life insurance company, under which the latter guarantees the payment of life insurance in case of death for the full face value of endowment stock held by the member at the time of his death. Members who wish to avail themselves of such advantages must sub- mit to medical examination. In addition to their regular dues such insured members are required to pay an insurance premium graduated according to their age. Table V. — Shares held outside of state, pp. 288, 289. — A comparison of the. second and third columns of this table shows that nearly all asso- ciations in the country reported as regards the number of shares each held outside of the state in which it was incorporated or in which it carried on business, but although a very large number reported as to this fact, the great majority of associations reported that no shares were so held. The total number of associations reporting as to the fact have, however, been used as the basis in computing the averages. It should not be assumed, therefore, that the number of associations appearing under the head "Associations reporting as to" represents the associations in which shares were held outside of the state in which they did business. Taking the summary for all associations, both locals and nationals, on the basis just stated, it is found that there were 515,186 shares held outside of the state, being an average of 91.8 to each association. The value of these shares was $8,073,443, or an average of $1,438 to each association. The number of shareholders holding these outside shares was 58,021, or an average of 10.3 to each association. It is interesting to know whether these outside shares were held largely in national or in local associations. The table shows that of the whole number (515,186) held in all, 475,996 were held in nationals and only 39,190 were held in locals, and of the value of the shares, out of the total of $8,073,443 held in all. $7,023,982 was the CHAPTER I. GENERAL TABLES. 27 value of outside shares held in national associations and $1,049,401 the value of the shares held in locals. It is also seen that of the total number of shareholders holding these outside shares (58,021), 55,405 shareholders belonged to national associations, or an average of 404.4 to each association, while only 2,610 shareholders, or an average of one-half to each association, belonged to locals. Table VI. — Number and sex of shareholders, pp. 290, 291. — Of the 5,838 associations in the country 5,796 reported the total number of share- holders, and 4,269 reported the number of male and female share- holders. A very small proportion of shareholders reported as firms, societies, etc., have been classed in this table with the males. The total number of shareholders in these 5,796 associations reporting was 1,745,725. The number of shareholders whose sex was reported was considerably less, being 1,227,442, of whom 919,614 were males and 307,828 females. Table VII. — Associations classified as to shareholders, pp. 292 to 294. — This table shows simply the classification of associations as to number of shareholders, the classification ranging from those having under 100 shareholders, those having 100 or under 200 shareholders, etc., the gra- dations being by hundreds up to 1,700 or over. The totals show that the largest number have 100 or under 200 shareholders, there being 1,587 having under 100 shareholders, and 1,765 having 100 or under 200 shareholders, the next largest number being 914 associations having 200 or under 300 shareholders each. Those having 300 or under 400 number 513. The largest number of shareholders in one association, 14,088, is found in a national association in Tennessee. Table VIII. — Associations classified as to borrowers, pp. 295, 296. — This table, which is a companion to the preceding, shows that most of the associations have a small number of borrowers. The classification in this table, however, starts at under 50, and then the gradation is divided by 50's up to 200, and then by 100's. Three thousand and twenty-nine associations have under 50 borrowers each, 1,466 have 50 or under 100 borrowers each, and 568 have 100 or under 150, while 243 associations have 150 borrowers, but under 200 each, and 233 associa- tions 200, but under 300 borrowers each. The number having over 300 borrowers each is small. Table IX. — Shareholders and borrowers, pp. 297 to 299. — This table shows thetotalnumber of shareholders and the total numberof borrowers in associations reporting as to each of these facts. Of all the associations in the United States 5,796 reported 1,745,725 shareholders, an average of 301.2 shareholders to each association; 5,776 reported 456,004 bor- rowers, making an average of 78.9 borrowers to each association. The table also shows the number of shareholders and borrowers in associa- tions reporting as to both of these facts, associations reporting as to one fact only having been excluded in order to secure a fair basis for arrivin g at the per cent of shareholders who were borrowers. The number of 28 EEPOET OF THE COMMISSIONER OF LABOR. associations, then, both local and national, reporting as to both facts was 5,765, and in these associations the per cent of shareholders who were borrowers was 26.25. It is an interesting fact as shown by this table that the per cent of shareholders who were borrowers in local associations was more than twice as large as that in nationals, the per cent for locals being 29.83 and for nationals 13.77. Table X. — Associations classified as to total real estate loans, pp. 300 to 303. — That portion of the assets of the various associations designated as loans on real estate is shown in this table in classified form. Loans on real estate are those which have been made upon a first mortgage on the same. The borrower must also pledge nis stock as an additional security for his loan. Taking the total, which comprehends both locals and nationals, we find that there are 22 associations which have no real estate loans, 1,942 which have total real estate loans valued at under $25,000, 1,238 with a total valuation of real estate loans of $25,000 or under $50,000, and 741 with $50,000 or under $75,000, the number having $75,000 or over in total real estate loans decreasing rapidly in the classification. The total shows that the business of associations is not large generally, those having $250,000 or over in real estate loans numbering only 350. Table XI. — Homes and other buildings acquired by borrowers during the lives of the associations, pp. 304, 305. — Of the 5,838 associations in the country, both local and national, 4,444 have reported as to homes acquired by their borrowing shareholders, and through this latter num- ber of associations 314,755 homes have been acquired. In the 4,422 associations reporting as to that fact, 28,459 buildings other than homes have been secured. Of the total number of homes acquired 290,803 have been through local associations and 23,952 through nationals. Through the locals 26,061 buildings other than homes have been acquired and 2,398 through the nationals. Table XII. — Mortgages foreclosed during the lives of the associations- •pp. 306, 307. — The total number of mortgages foreclosed was reported by 5,440 associations, including both locals and nationals, as 8,409, having a value of $12,217,126, the loss on such foreclosures being $449,599. Of the number of foreclosures, 7,765 were by locals, having a value in the aggregate of $11,031,394, the loss being $441,106. The nationals had foreclosed 644 mortgages, having an aggregate value of $1,185,732, the loss incurred being $8,493. It should be remembered that these fore- closures and losses relate to the whole lives of the associations report- ing. Table XIII. — Associations classified as to total stock loans, pp. 308 to 311.— While Table X covered the classification of total real estate loans this table (XIII) gives the classification of total stock loans. Stock loans may be defined as loans made to shareholders on shares of the association of which they are members. Such shares ou which loans CHAPTER I. GENERAL TABLES. 29 ■were made are held by the association as security for the repayment of the loan. Of the total number of associations (5,838) there were 2,519 which had no loans upon stock as described. In Table X it was seen that there were only 22 associations which had no real estate loans. These figures show conclusively that the associations are adhering very closely to the policy of making their loans upon real estate in connec- tion with stock rather than upon stock alone, and the table now under consideration (XIII) shows further that of those associations which have loans upon stock the loans are comparatively small. One thou- sand one hundred and three associations had total stock loans of less than $1,000 each, 536 having such loans amounting to $1,000 or under $2,000 each. Above this number the gradation downward is very rapid. There were some associations that had made in the aggregate quite large stock loans, but only a very few, the total line for all asso- ciations showing the results. Table XIV. — Associations classified as to dues and profits, pp. 312 to 315. — In this table the associations are classified according to the total amount of the instalment dues paid in by shareholders on shares in force plus the profits on the same. Paid-up stock is not included. Of the whole number of associations in the country 2,014 had dues and profits of under $25,000 each, 1,218 had $25,000 or under $50,000 each, 775 had $50,000 or under $75,000 each, while 479 had $75,000 or under $100,000 in dues and profits each. The associations having $250,000 or over were only 32G. Table XV. — Assets and liabilities, pp. 316 to 319. — This table shows the assets and liabilities of all the associations. From the totals, which are given for local and national and for all associations taken together, we find that the local associations had total assets of $473,137,454, consisting of $422,313,725 loaned on real estate, $15,8S0,663 loaned on the stock of the associations themselves, $5,666,853 loaned on other securi- ties, and $12,603,145 cash on hand, while all other assets, which consist largely of furniture, buildings for business purposes, and arrearages, amounted to $16,673,068. The national associations were in possession of assets to the value of $55,715,431, of which $47,828,799 was in loans on real estate, $1,471,530 in loans on stock of the associations them- selves, and $334,818 on securities other than real estate and stock of the associations themselves. They also had $1,453,261 in cash on hand and $4,627,023 in other and various assets. Taking all the associations, both national and local, we find that their total assets amounted to $528,852,885. Of this vast sum $470,142,524 was loaned on real estate on first mortgages, $17,352,193 on the shares of associations, only $6,001,671 on securities other than real estate and the associations' own stock, while they had $14,056,406 in cash on hand and $21,300,091 in other assets. The liabilities of both the local, and national associations are shown in the same table (XV). They consist of borrowed money, dues paid 30 REPORT OF THE COMMISSIONER OF LABOR. in on instalment shares in force, profits, paid-up and prepaid stock, and other incidental liabilities, the total liabilities of the local associations being $473,137,454, of which dues paid in on instalment shares in force plus the profits on the same was $413,647,228. The nationals had net assets of $37,020,366, and all the associations taken together had net assets of $450,667,594. In some slates the amount of paid-up and prepaid stock is consider- able, although that feature is comparatively new in building and loan associations. The following table shows the number of associations reporting paid-up and prepaid stock in the various states and territo- ries and the amount of the same : PAID-UP AND PREPAID STOCK. States and territories. Paid-up and prepaid stock. In local associ- ations. Associ- ations report- ing. In national associ- ations. Associ- ations report- ing. Amount. In all associations. Associ- ations report- ing. Alabama Arizona Arkansas California Colorado Delaware District of Columbia. Florida Georgia Illinois Indiana Iowa Kansas •- Kentucky Louisiana Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska New Hampshire New Jersey New York North Carolina North Dakota Ohio Oregon Pennsylvania South'Dakota Tennessee Texas Virginia Washington West Virginia Wisconsin 1 4 5 01 109 10 10 13 1 7 5 3 10 4 20 1 1 2 15 45 2 1 270 $84, 075 15, 225 86, 672 358, 604 95, 489 78,880 17, 640 80, 168 24, 420 1, 487, 419 3, 383, 254 181, 990 89, 373 242, 052 50, 000 101, 390 116, 750 38, 090 336, 336 101, 547 447, 537 17, 350 6,345 33, 041 285, 478 959, 686 49, 775 1,631 12, 162, 432 1,698,392 59, 060 515, 334 17, 469 324, 671 14, 073 147, 781 89, 184 $156, 560 81, 160 13, 786 3, 197 116, 146 446, 769 762, 257 321, 039 2,032 865, 566 280, 336 225, 091 16,700 2, 261, 870 400 929, 985 9,843 145, 425 ,14, 000 760, 203 5,677 4,423 78, 814 31, 895 67, 020 377, 666 , 705, 268 10, 512 189, 628 28, 598 25, 650 33, 331 16 5 6 3 4 13 70 124 13 12 27 16 01 3 2 272 2 00 5 39 $240, 635 15, 225 86, 672 439, 764 109, 275 78, 880 20, 743 80, 168 140, 566 1,934,188 4, 145, 511 503, 029 91,405 1, 107, 618 330, 336 328, 481 116, 750 54, 790 2, 598, 206 101, 947" 1, 377 522 27, 193 6,345 178, 466 299, 478 1, 725, 889 55, 452 6, 054 12, 241. 246 31, 895 1,765,412 436, 726 2, 220, 602 27, 981 514, 299 42, 671 173,431 122, 515 Total . 23, 798, 519 9, 976, 847 33, 775, 366 The following number of associations in*the various states showed, at the end of the fiscal year reported, net losses of the amounts indicated : Local. — In Illinois 4 associations, $1,531.12 ; in Indiana 6 associa- tions, $2,210.02; in Maryland 1 association, $29.50; in Minnesota 1 association, $85; in Missouri 6 associations, $2,230.40; in New Jersey CHAPTER I. GENERAL TABLES. 31 1 association, $110.91; iu New York 4 associations, $419.13; in Penn- sylvania 8 associations, $4,823.14; in Texas 1 association, $1,239.94; in Utah 1 association, $9,315.40; and in Virginia 1 association, $81.05. The total net loss in 34 local associations was $22,075.01. National. — But one national association reported a loss. It was located in Nebraska and the loss amounted to $1,256.59. The net losses in both local and national associations as given above amounted to $23,332.20. Table XVI. — Classified occupations of shareholders in certain repre sentntive associations, pp. 320 to 323. — The Department undertook to ascertain the facts, as to the kind of people who patronize and use building and loan associations. The original purpose of these associa- tions was to enable men of small means to secure homes for themselves and to save their earnings. The question became vital, then, as to whether the motive of the associations had been preserved. It was impossible to secure the occupation of each and every shareholder in the whole 5,838 associations in the country, and the attempt was not made, but we did learn the occupations of the shareholders in 909 local associations and 12 national associations, or a total of 921 asso- ciations. This table (XVI) gives the occupations in classified form for these associations by states. It shows that in the 909 local associations reporting there were 159,223 shareholders, and in the 12 national associations 15,547 shareholders. In the local associations 111,383 or 69.96 per cent of the whole number were practically working people, while in the nationals they numbered 8,403, or 54.00 per cent. These include the following classes as shown in the table : Accountants, bookkeepers, etc.; artisans and mechanics; farmers, gardeners, etc.; housewives and housekeepers; laborers; mill and factory employes; and salesmen and saleswomen. The remainder, that is, 47,840, or 30.04 per cent in the local associations, and 7,144, or 45.94 per cent in the national associations, consists of agents, bankers, brokers, etc.; corpo- ration officials; government officials and employes; hotel, boarding- house, and restaurant keepers; lodges, churches, and societies; manu- facturers, contractors, capitalists, etc.; merchants and dealers; persons engaged in the professions; and superintendents, foremen, etc. These figures show conclusively that the building and loan associations of the country are being used by the classes for which they were originally established. These percentages may well and honestly be applied to all the shareholders in the country, as the facts relative to occupations were taken at random. All of the general tables, 16 in number, which have been discussed follow in consecutive order. 32 REPOHT OF THE COMMISSIONER OF LABOR. Tab.le I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS. ALABAMA. liar giu- al nunr ber. 18 21 26 27 Locality. BARBOUR COUNTY. Eufaula CALHOUN COUNTY. Anniston . Anniston . COLBERT COUNTY. Sheffield .... Tuscurabia . DALLAS COUNTY. Solma. Selma. ETOWAH COUNTY. Gadsden , JEFFERSON COUNTY. Avondale Bessemer Birmingham . Birmingham . Birmingham . Birmingham . Birmingham . Birmingham - Pratt City . . . LAUDERDALE COUNTY. Florence MADISON COUNTY. Huntsville. Huntsville. MOBILE COUNTY. Mobile MONTGOMERY COUNTY. Montgomery. Montgomery. Montgomery. Montgomery . MORG4.N COUNTY. Decatur TUSCALOOSA COUNTY. Tuscaloosa Name of association. Home Building and Loan. Anniston Building and Loan Farmers and Mechanics' Savings and Loan. Pioneer Building and Loan Tuscumbia and Sheffield Building and Loan . Central Citv Building and Loan Home Real Estate and Loan Company. Gadsden Building and Loan . Avondale Building and Loan , Bessemer Building and Loan Alabama Building and Loan , Alabama Home Building and Loan Birmingham Building and Loan Iron State Building and Loan Company Jefferson County Building and Loan National Guarantee Loan and Trust Company'. Pratt Mines Building and Loan Florence Mutual Building, Loan, and Savings. Huntsville Building and Loan. Southern Building and Loan. . . Mobile Homestead. Empire Building and Loan Home Building and Loan Mutual Benefit Building and Loan. National Building and Loan Morgan County Building and Loan. Tuscaloosa Building and Loan .Date of organization. July 28,1890 Mar. 8, 1887 Jan. 1, 1892 Mar. 1, 1888 May 17,1887 Apr. 30,1887 Oct. 26, 1883 Oct. 1, Mar. 6, 1887 Jan. 1, 1888 Oct. 1, 1890 Apr. 13, 1891 Apr. 5, 1879 bopt. 4. 1890 Apr. 2, 1892 May 3,1890 Aug. 20, 1892 Apr. 1, 1887 May 9, 1887 Sept. 1, 1890 Jan. 28, 1888 Apr. 19, 1884 Apr. 15, 1884 AU£. 1, 1890 Nov. 11, 1890 Jan. 1, 1890 Mar. 7, 1887 a Not reported. CHAPTER I. — GENERAL TABLES. 33 Table I NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS. ALABAMA. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ■ era. Shares in force. Real estate loans. Mar- gin- al num- ber. Male. Female. Total. Terminating 63 19 82 39 1,040 (a) 1 Local 64 67 11 5 75 62 67 20 1 000 1,400' W (a) 2 3 Local 31 63 31 66 26 39 1.722 1, 358J (a) (a) 4 3 5 Local Local 79 34 18 97 34 40 11 1,085 . 627 (a) (a) 6 7 66 14 80 27 1,136 (al 8 Local Local Local Local Local Local Local National Local Local Local National 91 99 230 259 720 321 101 330 73 19 35 55 87 480 35 9 180 2 110 134 285 346 1, 200 356 110 510 75 9 43 101 124 350 105 15 136 10 161 5,279 8, 332 7, 193 60, 048 7,733 2,832 b 8, 090 803 («> 44 (a) (a) 360 105 (a) (a) (a) 10 Permanent n 12 13 14 15 16 17 75 75 34 1,542 (a) 18 38 1,685 27 842 65 2,527 30 972 568 48.512 30 (a) 19 Terminating 20 63 27 90 27 584 j (a) 21 Local Local 87 83 256 1.350 17 16 42 600 104 99 298 1,950 78 49 120 355 3,976 7,155 14.7H8 30, 296 1 (a) (al 1 192 22 23 24 25 42 10 52 24 1,076 (a) 26 Local Terminating 15 3 18 2 220 (a, 27 ^Including paid-up stock. H. Ex. 209- 34 REPORT OF THE COMMISSIONER OF LABOR. Table I. -NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. ARIZONA. Mar gin- al Hum ber. Locality. MARICOPA COUNTY. Phoenix PIMA COUNTY. Tucson PINAL COUNTY. Florence YUMA COUNTY. Tuma Name of association. Phoenix Building and Loan . Tucson Building and Loan Pinal County Building and Loan. Tuma Building and Loan Date of organization. Nov. l, 1889 Mar. 7, 1888 Mar. 13, 1890 Apr. 17,18 ARKANSAS. 18 BRADLEY COUNTY. Warren CONWAY COUNTY. Morrillton CRAIGHEAD COUNTY. Jonesboro CRAWFORD COUNTY. Van Buren DALLAS COUNTY. Fordyce GARLAND COUNTY. Hot Springs . Hot Springs . Hot Springs . Hot Springs . GREENE COUNTY. Paragould JEFFERSON COUNTY, Pine Bluff.. Pine Bluff.. JOHNSON COUNTY. Clarksville MILLER COUNTY. Texarkana PHILLIPS COUNTY. Helena. Helena. Warren Building and Loan Morrillton Building Jonesboro Building and Loan Van Buren Building and Loan, No. 2 . Fordyce Loan and Savings Citizens' Building and Loan Equitable Building and Loan, No. 1 .. Homestead Building and Loan Security Building, Loan, and Savings. Paragould Building and Loan Home Building, Loan, and Savings . Pine Bluff Building and Loan Clarksville Building and Loan G-ate City Building and Loan Home Mutual Building and Loan . People's Building and Loan Feb. 6, 1892 Mar. 1, 1888 May 24s 1888 May 4, 1887 Tune 27,1892 Feb. 9 1887 gJudo 1,1886 July 1. 1888 a Not reported. July May 1, 1892 8, 1889 Nov. May 7, 1892 15. 1S87 Sept. 14, 1891 Sept. 10, 1891 June May 1,1887 1, 1889 b Including paid-up stock. CHAPTER I. GENERAL TABLES. 35 Tabos I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. ARIZONA. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num. ber. Male. Female. Total. Local — Local 107 123 26 26 58 35 7 9 165 158 33 35 65 66 19 7 2,094 1,304 522 259 (a) (a) (a) (a) 1 2 3 4 ARKANSAS. Local ■ Local . Local . Local . Local Local . . . Local . . . Local . . . Local . . - Local . Local . Local . Local . Local ... Local . . Serial . Serial . Serial . Serial . Serial . Serial Serial - Terminating . Terminating . Serial . Serial . Serial . Serial . Terminating'. Serial Terminating . 34 2 36 11 75 8 83 51 153 36 189 79 112 30 142 70 36 5 41 7 76 72 51 33 24 28 22 14 100 100 75 47 46 52 38 13 58 9 67 54 49 114 11 8 60 122 11 57 35 3 38 12 100 9 109 21 161 95 64 36 225 131 99 46 7,105 5.892 1,222 3,476 4-, 269 3, 023 1.914 440 5,821 15,384 9,950 (a) (a) (a.) (a) (a) (a) (01 (a) (a) (a) (a) (a) (a) (a) c Date of incorporation. 36 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. ARICANSAS-Concluded. Locality. Name of association. Date of organization. PULASKI COUNTY. Argonta Little Rock Little Rock Little Rock Little Rock Little Rock Little Rock Little Rock Little Rock Little Rock SEBASTIAN COUNTY. Fort Smith Fort Smith Fort Smith WASHINGTON COUNTY. Fayetteville "WHITE COUNTY. Searcy YELL COUNTY. Dardanelle Argenta Building and Loan Arkansas Building and Loan Capital Building Equitable Building and Loan German- American Building Home Mutual Building, No. 3 Ladies' Building Little Rock Building, No. 6 Mechanics' Building and Loan Young Men's Building Fort Smith Building, No. 2 Pedo Home Mutual Building and Loan People's Building and Loan Fayotteville Building and Loan, No. 1. Searcy Mutual Buildiug Dardanelle Building and Loan Jan. Mar. Nov. 6Dec. Oct. June Jan. Jan. Oct. Oct. 1. 1887 15. 1890 18. 1891 30, 1889 — , 1800 1, 1892 21, 1882 1. 1883 1. 1888 1. 1884 Jan. 1, 1884 June 11, 1891 June 19, 1887 Mar. 15, 1886 May 1, 1889 Jan. 1, 1890 CALIFORNIA. ALAMEDA COUNTY. Alameda Alameda Alameda Berkeley Oakland Oakland Oakland Oaklaud Oakland Oakland Oakland Oakland FRESNO COUNTY. Fresno HUMBOLDT COUNTY. Fortnna KERN COUNTY. Bakersfield Bakersfield LOS ANGELES COUNTY. Los Angeles Los Angeles Los Angeles Los Angeles Los Angeles Los Angeles Los Angeles Los Angeles Los Angeles Alameda Building and Loan California Building and Loan Encinal Building and Loan Homestead Loan Brooklyn Investment and Loan Cosmopolitan Mutual Building and Loan Equity Buildiug and Loan Home Security Buildiug andLoan Oakland Building and Loan People's Building and Loan Standard Building aud Loan "West Oakland Mutual Loan Mutual Building and Loan Fortuna Building and Loan Bakersfield Building and Loan People's Mutual Building and Loan."!!."!. California Mutual Building andLoan..., Columbia Loan and Building Fidelity Savings and Loan !!!!!!!! Home Investment Building and Loan... Imperial Savings and Loan Los Angeles Building and Loan Metropolitan Loan National Building and Loan. Savings Fund and Building Society.!!!!! a Not reported. Mar. 25, 1876 Feb. 1,1888 Dec. 28, 1888 .t'eb. 27, 1886 Oct. 11, 1889 Aug 6, 1879 Aug 21, 1888 July 15,1875 Aug 1, 1889 Dec. 7,1888 Oct. 1, 1890 July 21,1875 Mar. 3, 1892 Mar. 16, 1887 Apr. 28, 1890 Jan. 23, 1892 iAug. 18, 1891 Feb. 10, 1887 Jan. 23, 1891 5Aug. 21, 1889 Feb. 18, 1890 Mar. 19, 1891 Aug. 10, 1886 June 20,1889 6Mar. 13, 1883 CHAPTER I. GENERAL TABLES. 37 Table I — NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. ARKANSAS-Conchided. Local or national. Permanent, termi- 'nating, or serial. Shareholder Total. Borrow- ers. Shares in force. Real Mar- gin- al num ber. Male. Female. loans. Local Local Local Local Local... Local Local Local Local 96 1,070 72 140 97 265 419 262 278 260 55 55 72 129 46 22 22 280 6 44 37 147 172 131 79 90 10 4 28 39 16 2 118 1,350 78 190 134 412 591 393 357 350 05 59 100 168 02 24 56 328 18 49 42 201 240 200 87 119 19 14 49 135 28 11 4,038 57, 053 3, 193 9,300 4,637 24, 459 24, 017 27, 440 16, 890 14, 226* 2,233 1,872 5,174 7,470 3,804 672 (a) (a) (OS) (a) (a) (a) 252 (a) (a) (a) (a) (a) (a) («)• «i) ■ (a) 2 3 4 Serial 5 6 7 8 Permanent 9 10 11 12 13 14 Terminating 15 16 CALIFORNIA. Local Local Local Local Local Local Local Local Local National . . . Local National . . . Local Local National . . . Local 232 80 125 237 (a) (a) 123 400 298 84 79 209 86 45 185 (a) 112 131 48 (a) 89 54 184 984 140 80 32 50 83 (a) (a) 48 208 103 20 10 51' 15 12 28 (a) 22 65 27 («) 35 20 66 320 80 312 118 175 320 180 668 171 668 401 104 89 260 101 57 213 115 134 190- 75 99 124 74 250 1,304 220 132 50 47 115 37 78 74 236 229 24 11 120 10 22 08 28 5 00 41 40 30 23 98 397 ! 108 3,416 1, 9394 2,101 3, 383 3, O8I4 2,291 1.319H 0,517 5. 7384 984J 8784 - 2, 369J 1,598 297 2, 876 2,191 1,228 2,573 1,813 - 1, 225 2,563 756 4,509 9, 0844 1, 434 ~" 183 58 71 192 46 91 (a) 378 (a) 28 11 136 la) 32 (a) (a) (a) (a) (a) (a) <«) (a) 109 (a) {ay 17 18 19 20 21 22 23 24 25 20 27 28 29 30 31 32 33 34 35 36 Permanent 37 38 39 Permanent 40 41 6 Date of incorporation . 38 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. CALIFORIVI A— Continued. Locality. LOS ANGELES CO.— COnc'd Los Angeles Los Angeles Pasadena Pomona liedondo Beach MARIN COUNTY. San Rafael Sausalito MERCED COUNTY. Merced NAPA COUNTY. Napa NEVADA COUNTY. Truckee ORANGE COUNTY. Anaheim Orange Santa Ana PLACER COUNTY. Newcastle SACRAMENTO COUNTY. Sacramen to Sacramento Sacramento Sacramento SAN BERNARDINO COUNT? Oolton Ontario San Bernardino San Bernardino SAN DIEGO COUNTY. San Diego San Diego San Diego SAN FRANCISCO COUNTY. San Francisco San Francisco San Francisco Sau Francisco San Francisco San Francisco San Francisco San Francisco San Francisco San Francisco San Francisco San Francisco San Frnncisco S;in Francisco San Francisco San Francisco San Francisco Name of association. Southern California Loan Union Mutual Building and Loan. Mutual Building and Loan... Mutual Building and Loan Mutual Building and Loan Marin County Mutual Building and Loan. Sausalito Mutual Loan Merced Mutual Building and Loan. . Napa Building and Loan Truckee Mutual Building and Loan. Anaheim Savings, Loan, and Building. Orange Building and Loan Santa Ana Loan and Building Newcastle Building and Loan . Gerraania Building and Loan, . . Occidental Building and Loan . Sacramento Building and Loan. Union Building and Loan Colton Building and Loan No. 2 ... People's Mutual Building and Loan . San Bernardino Land and Building . Santa Fe Building and Loan San Diego Building and Loan .. San Diego Savings and Loan . .. Silver Gate Building and Loan . I>ateof organization, Feb. 9, 1887 Oct. 18,1891 Julv 15, 1892 6 Dec. 24,1892 Dec. 26,1891 July 10,1888 6Dec. 1, 1887 June 12,1891 May 15,1886 May 28,1891 Nov. 28,1888 Sept. 21,1887 Feb. 2, 1887 Apr. 27,1889 Dec. 31,1872 Oct. 12, 1877 Aug. 18, 1874 Nov. 23,187-1 Wan. 1 1888 June 1,1891 Dec. 22,1886 b J an 8, 1890 July 11.18S5 Nov. 11 1887 Apr. 26,1890 Acme Building and Loan Alliance Building and Loan *", Alta Building and Loan Argonaut Mutual Building and Loan Atlas Building and Loan Bay City Building and Loan -!!!!.!!!!!!. California Guarantee Investment Company .'. California Mutual Savings Fund, Loan, and Building Capital Building and Loan Citizens' Building and Loan City Building nnd Loan " Columbia Building and Loan /................. Commercial Building and Loan Commonwealth Mutual Building and Loan".!!!]". Continental Building and Loan Co-op Mutual Building and Loan !! Cosmos Loan a Not reported. Mar. Oct. Feb. Jan. Oct. May 6Ang. Apr. June Jan. Mar. May Dec. July July 5Sept. May 16, ism 16. 1890 9, 1891 31 1891 U. 1890 % 1889 2, 1890 8 1887 10. 1890 7. 1885 26. isai 2. 1890 21,1886 26, 1889 17.1889 16. 1 892 9,1890 CHAPTER I.— GENERAL TABLES. 39 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. GAtM OBHI A— Continued. Local or national. Local National Local Local Local Local . Local . Local . Local. Local . Local . Local . Local . Local . . Local . . Local .. Local . . Permanent, termi- nating, or serial. Serial Serial Serial ...... Serial Permanent . Serial . Serial . Local — Serial . Serial . Serial . Serial . Serial . Serial . Serial Serial . Serial . Serial . Serial . Local . Local . Local . Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local National. Local Local Serial Serial Serial Permanent . Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Permanent . Serial Serial Shareholders. Male. Female. Total 307 546 56 67 31 (») 174, 52 (a) 744 128 224 140 214 42 29 (a) (a) 639 (a) (a) 121 66 078 75 71 25 205 18 <«> I a) 316 46 108 45 (a) (a) (a) 129 (a) 1 247 15 (a) 332 751 64 85 Borrow- ers. 1,060 •174 124 73 4'.) 53 298 66 33 108 80 157 768 125 99 715 112 58 182 73 718 104 77 105 107 102 Shares in force. 285 22 134 25 125 25 12 3 12 8 11 10 40 170 27 25 179 9 16 37 11 81 11 14 3,281 8,239 754 665 460 1,895 1, 407 2,592 702 1228 1,138 8.512 1,732 3, 342 2,1-38 738 1,042 300 475 2,794 434 250 755 1,111 1,513 1,593 1, 310 2, 281 18, 973 982 1,707 8,737 1,430 844 1,865 659 6. 568 2, 320 1,135 Real estate loans. (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) Mar- gin- al num- ber. (a) (a) («) (a) (a) U» (a) (a) (a) <«) (a) 3 17 8 13 44 (a) (a) 24 236 9 17 42 12 (a) (a) 13 11 12 13 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 31 35 36 37 40 41 42 b Date of incorporation. 40 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. CAIJFORIVl A -Continued. Kame of association. Bate of organization. .■AN FRANCISCO CO— COnc'd San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco". San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco - San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . San Francisco . SAN JOAQUIN COUNTY. Stockton . Stockton. SAN LUIS OBISPO COUNTY. San Luis Obispo SAN MATEO COUNTY. Redwood City SANTA BARBARA COUNTY. Santa Barbara , SANTA CLARA COUNTY. Los Gatos . San Jos6... San Jos6 San Jos6 Santa Clara. Economy Building and Loan Eintracht Spar und Bau Verein El Dorado Loan Empire Building and Loan Enterprise Mutual Building and Loan Equitable Building and Loan Eureka Building and Loan Eureka Loan Excelsior Loan _ Fairmount Loan Fidelity Building and Loan Franklin Savings and Building Germania Building aud Loan Golden Gate Mutual Building and Loan Golden Rule Mutual Building and Loan Golden West Building and Loan Guardian Loan Home Investment Home Mutual Building and Loan Homeseekers' Loan Householders' Building and Loan Humboldt Building and. Loan Inter Nos Building and Loan Italian-Swiss Mutual Loan , Mechanics' Building and Loan , Merchants' Loan Mission Home and Loan Monarch Mutual Building and Loan Mutual Savings Fund, Loan, and Building National Home and Loan Occidental Loan Pacific Coast Loan Pacific Coast Savings Society Pacific Loan , Pacific States Savings, Loan, and Building Company. Provident Mutual Loan Prudence Building and Loan Renters* Cooperative Investment Company , Republic Savings, Building, and Loan San Francisco and Oakland Mutual Loan , San Francisco Home Mutual Loan San Fran cisco M utual Loan Security Loan .' Triumph Loan Union Loan " * _ Western Loan West Shore Mutual Loan \' m " "Verba Buena Mutual Building and Loan San Joaquin Valley Building and Loan. Stockton Land, Loan, and Building San Luis Building and Loan. San Mateo County Building and Loan. Santa Barbara Loan and Building. Los Gatos Building and Loan Mutual Building and Loan of College Park and San Jose. Nucleus Building and Loan San JosG Building and Loan , Santa Clara Building and Loan a Net reported. Dec. May Mar. Aug. Feb. Oct. Nov. May Jan. Mar. Feb. Nov. May Aug. May May Apr. 6Mar. Nov. Sept. Oct. Sept. May Apr. Oct. June Mar. Apr. May Nov. Aug. Sept. Jan. Dec. June Sept. Mar. Nov. 60ct. Jan. Nov. Oct. Apr. Jan. May Nov. Aug. Apr. ,1889 ,1884 !( 1890 ,1889 ,1891 •, 1885 ,1890 -, 1889 ,1889 „ 1891 ,1887 ., 1875 ,1889 , 1892 ,1892 ,1890 ,1830 ,1890 ', 1885 ,1SS0 ,1889 , 1890 :, 1889 ,1887 ,1890 ,1889 ,1889 ,1891 ,1883 ,1885 , 1885 . 1890 i. 1891 ,1884 ,1889 , 18*7 , 1891 ,1890 ,1889 ,1889 i, 1800 ,1882 , 1888 ,1891 ,1881 ,1886 „ 1890 ,1891 May 17,1889 Dec. 20,1886 Feb. 2, 1888 6May 8, 1890 Z>May 23,1887 Apr. Mar. Mar. Jan. Mar. 27. 1889 1, 1889 28, 1889 14, 1885 15, 1889 CHAPTER I. GENERAL TABLES. 41 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. CALIFORIVI A— Continued. Local or national. Permanent, termi- nating, or serial. Local Local Local Local LocaL Local Local Local Local Local, . . . Local Local Local LocaK... Local Local Local Local Local Local Local Local Local .... Local Local Local Local Local Local Local — Local — Local Local Local . . . National Local . . . Local . . . National — National. . Local local Local Local Local Local Local Local Serial Serial Serial Serial Serial Terminating . Serial :.-■ Serial Serial Serial ■ Serial . — :.. Serial Serial Serial Serial Serial Serial Serial Serial Serial Serf Hi Serial Serial Serial" Serial Serial Serial Serial Serial Serial Serial Serial Permanent . Serial Serial Serial Serial Serial Permanent . Serial Serial Serial Serial Serial Serial Serial Serial Local Serial Local . Local . Local . Local ■ Local . Local . Local . Local . Local . Local . Serial . Serial . Serial Serial Serial . Serial . Serial . Serial . Serial . Serial . Shareholders. Male. Femalo. Total (a) (a) 203 43 (a) (a) 90 - 20 00 8 (a) (a) 34 7 74 ' 21 123 35 101 21 192 40 (a) («) 217 39 56 15 74 6 73 15 53 15 (a) (a) 159 33 73 20 (a) (a) 105 13 227 56 223 54 50 7 64 19 103 58 53 11 W (a) 135 25 (a) (a) 39 20 (a) (a) (a) (a) 2.975 593 104 38 72 22 382 63 48 11 206 38 70 27 367 85 102 22 91 16 (a) (a) (a) (a) 55 S 71 13 (O) 36 116 (a) (a) (a) (a) «0 Borrow- ers. 72 240 111 110 08 05 41 95 160 122 232 208 256 71 80 170 192 93 77 118 283 277 57 83 251 04 215 160 247 59 2,434 293 3,568 142 94 445 59 244 97 452 124 107 247 260 63 84 299 807 236 43 148 147 501 149 10 83 10 20 9 45 2 25 35 21 81 129 59 (a) Shares : l'orce. 14 14 26 52 22 14 15 56 78 8 29 65 10 83 35 124 6 309 119 554 49 10 75 230 57 5 115 104 7 11 70 203 67 243 32 Real estate lonna. Mar- gin- al num- ber. 1,258 4, 001 1,713 2,088 991 J 3,015 009 1,593 3,745 1, 108i 3,710 2,075 4,351 1. 252 1, 172 1,721 1,4844 1,945 2.021 1,840 800 2,200 2,722 3. '.ni-l }, 650 1,079 2.4161 1,100 3,025 5,763 4,666 755 30, 207 6,468 47, 218 2,008 1,398' 5,284 524 2,841 1,187 4, 9174 3, 0304 1,300 3,541 3,814 1,081 1, 3934 2,500 8,940 1,577 1,305 246 1,561 1,805 6, 08.1 1,170 (a) 102 U 28 9 00 2 SO 37 21 108 72 70 (a) (a) 14 14 21 01 22 (a) 18 56 83 8 30 87 12 113 34 115 w (a) 119 (a) 56 10 (a) (a) 48 9 257 51 5 126 108 7 11 (a) (a) (a) (a) 12 45 45 250 31 7 8 9 10 11 12 13 14 15 10 17 18 II) 20 21 22 23 24 25 26 27 28 20 30 31 32 33 34 35 30 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 54 55 56 57 58 6 Date of incorporation. 42 RSPOHT OF THE COMMISSIONER OF LABOR. Tablk I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. CALIFORINI A— Concluded. Locality. SOLANO COUNTY. Benicia SONOMA COUNTY. Petaluma toantii liosa STANISLAUS COUNTY. Modesto TULARE COUNTY; Tulare Vistula VENTURA COUNTY. Santa Paula YOLO COUNTY. "Woodland Name of association. Benicia Building and Loan Petal uma Mutual Loan Santa liosa Building and Loan . Modesto Building and Loan Tulare Building and Loan Visalia Building and Loan Santa Paula Building and Loan Woodland Building and Loan .. Date of organization. Jan. 4, 1883 Sept Sept. 21, 1889 28, 1888 Oct. 10, 1889 Jan. Dec. 29, 1889 18, 1886 Mar. 17, 1890 (a) COLORADO. ARAPAHOE COUNTY. Brighton Denver Denver Denver Denver .'. Denver Denver , Denver Denver Denver Denver , Denver Denver Denver , Denver Denver Denver Denver Denver Denver Denver Denver Denver Denver Denver Denver Denver Denver Den ver Denver BOULDER COUNTY. Boulder Longraont CHAFFEE COUNTY. Salida CONEJOS COUNTY. Alamosa Brighton Building and Loan Acme Building and Loan American Building and Loan Arapahoe Building and Loan Capitol Building and Loan Centennial Building, Loan, and Investment Colorado Building and Loan Columbia Building and Loan Cooperative Savings and Loan Dayton Building-Investment Company Denver Building and Luan Denver Home and Savings Economy Building and Loan Enterprizo Building and Loan Society Equitable Building and Loan Fidelity Building and Loan Germania Building and Loan Globe Building Loan-Investment Home Mutual Building and Loan Industrial Building and Loan Mechanics' Building aiul Loan Midland Savings* and Loan Company North Side Building and Loan People's Building and Loan Queen City Savings and Loan Security Building and Loan Silver Stale Building and Loan Standard Building and Loan Star Building and Loan State Savings and Loan Company Boulder Building and Loan Longmont Building and Loan Salida Building and Loan Alamosa Building and Loan , a Not reported. Aug. — , 1887 Apr. 6,1889 Mar. 3,1383 Sept. 1, 1891 Jan. 1, 1888 Jan. 1,1884 !Nov. —,1889 Jan. 18, 1890 Apr. 2», 1885 June 20,1889 Mar. — , 1887 Mar. 1,1889 Aug. — , 1888 July — , 1889 Feb. 11, 1887 Nov. — , 1889 Oct. -, 1889 Aug. — , 1888 June 14, 1879 June — , 1891 Mar. — , 1888 Aug. 24, 1891 Mar. 2, 1886 Mar. 1, 1887 Apr, 1,1888 July 11,-1888 Jan. 1, 1889 Aug. — , 1887 b May 31,1880 June 1, 1892 Jan. 2ft, 1890 Feb. 8, 1888 bNov. 11,1886 Apr. — , 1890 CHAPTER I. GENERAL TABLES. 43 Table l.-NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS-Cont'd. tAI.IFORld A— Concluded. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow ers. Shares in l'urce. Keal estate loans. Mnr- Male. Female. Total. nl num- ber. Local Local Local Local Local Local Local. "... eo 78 81 160 207 78' 72 132 27 12 23 48 65 16 20 5 107 "90 104 208 272 94 92 137 58 20 31 41 99 40 30 W -811 1 100 1,061 1,771 2, 637 1,527 929 1,353 61 25 30 (re) (ai (re) (a) (re) 1 Serial 6 Terminating 8 :«3t»>l.©«A WO. Local Local Local Local Local Local Locnl National. . Local Local Local Local Local Local Local National. . Local Local Local National.. Local National. . Local Local Local Local Local Local Lncal Local Local . Local . Local . Local Serial Serial Serial Serial Serial Serial Terminating . Serial Serial Serial Permanent . . . Serial Permanent Serial Serial •Terminating . Permanent — Serial Serial -Serial •Serial •Serial Permanent Serial Serial •Serial Permanent... Serial Terminating . 'Serial -PernMurent . . . Serial . Serial . Serial . 35 104 113 205 2:;2 131 177 (B) 102 82 94 340 121 130 233 1, 792 67 71 308 :2.!1 225 431 374 367 '364 60 162 205 137 157 112 234 2 47 39 45 164 46 46 (re) 61 357 90 30 117 758 20 52 167 120 95 119 188 -223 105 27 99 128 37 11 37 151 152 250 396 177 223 3,200 273 151 158 697 180 166 350 2,550 87 123 475 351 320 550 562 590 309 87 261 333 174 155 331 74 24 98 6 Date of incorporation. 28 59 89 70 178 (re) 66 393 90 43 57 128 00 56 152 425 37 36 134 49 140 65 222 308 169 47 125 119 73 39 228 1,5!)9 2, 478 2,500 3,740 1. 304 1, 634 35. 775 2,291 1,140 2, 258 4, 500 1, 397 1,011 '3, 875 35. 3JS 700 1,133 8 530 3, 893 2, 772 6,745 5.766 6. 035 4,954 1,244 4,609 4, 325 1,810 2,444 941 1,479 (re) (a) (a) (re) 127 (re) (a) (re) (a) (re) (a) («) (re) (a) (re) (a) (a) .27 (re) la) (re) (a) (re) (n) (a) IB) (re) (o) (a) 44 REPORT OF THE COMMISSIONER OF LABOR. Tabus S.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. COL ORA ©O —Concluded. Locality. EL PASO COUNTY. Colorado Springs .HUERFANO COUNTY. "Walsenburg LA PLATA COUNTY. Durango LAS ANIMAS COUNTY. Trinidad MESA COUNTY. Grand Junction /. Grand Junction MONTROSE COUNTY. Montrose OTERO COUNTY. La Junta La Junta PUEBLO COUNTY. Pueblo Pueblo "WELD COUNTY. Platteville FAIRFIELD COUNTY. Bridgeport Shelton South Norwalk HARTFORD COUNTY. Hartford New Britain South Manchester MIDDLESEX COUNTY. Middletown NEW HAVEN COUNTY. Meriden Merideu Meriden New Haven New Haven New Haven TOLLAND COUNTY. Rock vi He WINDHAM COUNTY. "Willimantic Name of association. P. O. S. A. Building, Loan, and Investment "Walsenburg Building and Loan San Juan Building and Loan Citizens' Building and Loan Grand Junction Building, Loan, and Savings Mesa County Building and Loan Montrose Building and Loan Otero County Building and Loan, No. 1 Otero County Building and Loan, No. 2 Bessemer Building aud Loan Home Building and Loan Platteville Building and Loan OONNECTICUT. Bridgeport Savings and Loan Shelton Loan and Savings Norwalk Building and Loan Investment Hartford Building and Loan Mew Britain Cooperative Savings and Loan Manchester Building and Loan Middletown Building aud Loan Meriden Mutual Benefit Building and Loan, No. 1 Meriden Mutual Benefit Building and Loan, No. 2 Merideu Permanent Building and Loan New Haven Building and Loan New Haven Cooperative Savings Fund and Loan. New Haven Progressive Building aud Loan Rockville Building and Loan "Willimantic Building and Loan , ft Not reported. Date of organization. Mar. 22, 1888 Oct. — , 1888 Mar. — . 1892 Jan. 4, 1888 Apr. Sept. —,1887 24, 18S9 July- — , 1888 July Feb. -, 1890 — , 1892 July May 1,1888 — , 1889 Feb. — , 1889 Dec. 5, 1888 June 10, 1S89 Aug. 17, 1889 Mar. 19,1889 Apr. 27,1880 Apr. 1, 1891 May 28,1889 Apr. 2.1887 Oct. 16,1888 Jan. 20, 1888 Oct. 31, 1890 July 18,1881 Jau. J, 1891 Jan. 1, 1890 Fob. 27,1891 UHAPTEE I. GENERAL TABLES. 45 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. COLORADO -Concluded. Local or national. Local . Local . Local . Local -. Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Permanent, termi- nating, or serial. Serial . Terminating . Serial . Serial . Serial Permanent . Local Serial Serial . Terminating . Terminating . Serial . Serial - Local Local Local Serial Serial Permanent . Serial . Serial . Serial . Serial . Terminating . Serial Terminating . Serial Serial Permanent . . . Local Serial Permanent. Shareholders. Male. Female. Total 108 87 140 Borrow- ers. 47 185 (a) (a) («) («J 156 118 157 (a) (a) 107 55 131 (a) (a) Shares in force. CONNECTICUT. 220 47 236 337 («) 133 (a)' (a) 196 87 141 101 2 77 (a) (a) (a) (a) 330 49 313 3R0 274 145 273 295 243 100 188 70 1,918 1,902 1,505 497 500 770), 446" 143 Ecal estate loans. Mar- gin- al nuin ber. 42 2, 213 4 353 20 3, 955 1,519 1,756 963 1,090 39 570 34 097 77 879 3 574 43 1,245 13 405 600 («) («) (a) («) <«) (at (a) . (a) 46 REPORT OF THE COMMISSIONER OF LABOR. Taule I.— NAME, LOCALITY, AND DESCRIP HON OF ASSOCIATIONS— Cont'd. DELAWARE. Mar gin- al hum ber. Locality. I cl 7 8 9 10 11 12 13 14 ! 15j 16 17 18 19 20 KENT COUNTY. Clayton Dover Dover Smyrna NEWCASTLE COUNTY Middletown .- . Newark., New Castle New Castle Newport- Odessa Townsend "Wilmington "Wilmington "Wilmington "Wilmington Wilmington Wilmington Wilmington "Wilmington Wilmington SUSSEX COUNTY. Georgetown Name of association. Clayton Savings and Loan Capitol Building and Loan People's Building and Loan Smyrna Building and Loan Mutual Loan Newark Building and Loan Citizens' Building and Loan New Castle Loan, No. 2 Newport Building and Loan Odessa Loan Mutual Loan Equitable Lonn Germania Building and Loan, No. 2 Guardian Savings and Loan Hope Building and Loan. Mutual Loan Perpetual Savings and Loan St av Loan "Wilmington Loan. Workingmen's Loan Georgetown Building and Loan . .. Date of organization. Mar. 20, 1885 Mar. 10, 1883 Sept 3, 1890 Apr. 9, 1867 Mar. 18, 1873 Mar. 12, 18G7 Mar. 5. 1888 May- 16, 1891 May 12, 1809 Feb. 22, 1885 1>VI>. 12, 1883 Feb. 22, 1878 Feb. 13, 1873 May 22, 1883 Keh. 11, 1867 Jau. 15, 1867 June 3, 1879 Feb. 28, 1861 Apr. 'J -I. 1806 Apr. 25, 1871 Sept. 26, 1*85 DISTRICT OF ((H.i'iatSA. Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Washington Brookland Building Carroll Cooperative Building Citiraeus' Equitable Building Cooperative Building, No. 1 Cooperative Building, Xo. 3 Eastern Building and Loan Enterprise Serial Buihung Equitable Cooperative Building Fidelity Building and Loan 1 Fidelity Building, Loan, and Investment German- American Building, No. 5 German -American Building, No. 6 German -A merienu Building, No. 7 Germ an -American Building, No. 8 Home Building- Homestead Building, No. 2 Industrial Building and Savings Company Metropolis Build in s, No. 8 Mutual Serial Building Northern Liberty German-American Building, No. 5 Northern Liberty German-American Building, No. 6 Oriental Building, No. (i Perpetual Building Serial Savings ana Building South Washington Building „ Union Cooperative Building United States Building and Loan Washington Six Per Cent Permanent Building. ..". Workingmen's Building, No. 2 Feb. Dec. Apr. May Dec. June Mar. Nov. Nov. July May May May Feb. Dec. Oct. May June Nov. Mar. Feb. May Oct. Apr. Jan. Oct. Sept. May Mar. 10. 1890 30. 1891 11, 1883 31. 1882 1, 1882 30, 1889 9, 1892 — , 1879 12, 1S90 1, 18J1 1, 1881 1, 1835 14, 1S88 6, 1890 17. 1883 6, 1887 1. 1885 2. 1886 7,1892 11, 1889 25, 1891 11, 1882 6, 1881 29, 1878 18, lSSS 1, 1881 1,1890 1,1881 31, 18&4, a Not reported. 6 Including 127 shares special class of stock. CHAPTER I. GENERAL TABLES. 47 Tahle I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. DELAWARE, Loral or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num- ber. Male.' Female. Total. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local 180 98 92 113 90 121 120 47 82 168 («) 143 59 71 17 (a) 364 67 24 (a) (a) 21 41 94 38 47 34 54 21 28 58 (a) 57 17 18 1 (a) 129 20 11 (a) (a) 201 139 186 151 137 155 180 68 110 220 218 200 76 89 18 120 493 87 35 80 («) 65 91 28 00 56 63 74 17 36 160 132 91 48 42 10 60 165 53 23 56 (a) 955 1,248 2, 157 590 850 714 1, 122 380 am 885 653 1. 0:)8 575 588 120 762 3,975 605 188 407 511 (a) (a) (a) (a) (a) (O) 63 14 36 (a) 94 80 (a| 36 (a) (a) 103 (a) (a) (a) .(a) Terminating 2 3 4 7 Terminating 8 9 Serial 10 11 12 13 14 15 16 17 18 li< 20 21 DISTRICT OF IIOLinnBIA. Permanent 63 50 113 31 417 (a) 22 110 5 115 20 431 la) »;■ 540 50 590 200 5,838 (a) 24 350 160 510 278 2,214? (a) 25 115 73 188 45 665 (a) 26 195 115 310 81 2, 858£ 4,008 13,399 3.800 95 ?,'i Local National 240 3,750 712 83 1,250 238 329 5, 000 950 40 960 108 53 28 1, 100 29 Permanent (a) 30 National 1,680 1,580 3,260 837 16,311 (o) 31 Local Terminating 47 7 54 19 6 409 (a) 32 Local Terminating 49 17 66 24 C467 (a) 33 Terminating 97 19 116 27 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 289 (a) 56 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. ILLINOIS— Continued. Locality. cook county— cont'd. Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago ' Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Name of association. Blue Island Avenue Building, Loan, and Homestead Bohemia Building and Loan Bohemian California Homestead Bohemian National Building, Loan, and Homestead- Bohemian Workingmen'a Loan and Homestead Bookkeepers' Building and Loan Booksellers and Stationers' Mutual Savings, Loan, and Building. Bori voj Building and Loan Brighton Park Building and Loan Building Homestead and Loan Cahle Building and Loan Canadian- American Loan and Building Carter H. Harrison Building and Loan C. B. & Q. Suburban Building and Loan Central Building and Loan Central Park Building and Loan Ceska Koruna Homestead Chicago Building, Loan, and Homestead Chicago Mutual Buildiug and Loan Chicago Mutual Building, Loan, and Investment So- ciety. Chicago Permanent Building and Loan Chicago Universal Investment and Loan Christopher Columbus Building and Loan Cicero Building and Loan Citizens' Building and Loan Citizens' Mutual Building and Loan City Building and Loan Clerks and Mechanics' Building, Loan, and Invest- ment. Club Loan and Homestead Colonel Mulligan Loan and Building Columbia Building and Loan Columbian Economic Savings and Loan Commercial Loan and Building Commonwealth Building, Loan, and Investment Commonwealth Loan and Building Commonwealth Savings and Loau Company Conservative Building and Loan Conservative Businesslike Lawful Building and Loan Continental Building and Loau Continental Investment and Loan Society Cook County Building and Loan Cosmopolitan Building and Loan Cottage Grove Building and Loan Curran Hall Building and Loan Curran Mutual Aid and Building Dearborn Savings, Loan, and Building Peering Building and Loan Delnicky Krok Building and Loan Dime N ational Building and Loan Domestic Building Domov Building and Loan Douglas Park Building Drexel Building and Loan Eagle Loan and Homestead Eclipse Building and Loan Economy Building and Loan EUdon Loan Ellsworth Park Building and Loan Empire Savings, Building, and Loau Engineers' Building Enterprise Building" and Loan Eqnitable Savings, Loan, and Homestead Eureka Loan and Building Excelsior Loan Family Homestead Building and Loan Farmers and Mechanics' Savings and Loan Federal Savings Building and Loan Foresters' Building and Loan Fourteenth Ward Building and Loan a Not reported. Date of organization. May 1. 1883 Feb. 1, 1886 Feb. 15,1892 Jan. 30, 1888 Apr. 20, 18M Feb. 5, 1884 Nov. 13, 1882 Sept. 29, 1885 Mar. 26, 1890 July 11, 1891 June 17, 1885 Mar. 16, 1885 oJune 18, 1883 Mar. 10, 1888 Nov. 30, 1883 Apr. 17, 188(1 May 6, 1892 Jan. 3. 1883 Oct. 19, 1891 June 21, 1892 Mar. 17, 1883 Dee. 18, 1889 June 10, 1881 July 1,1886 June 7, 1884 Jan. 1, 1889 Feb. 21, 1888 Mar. 27. 1887 Mar. 1.1892 Feb. 1, 1886 Oct. 1,1882 Aug. 13, 1892 Apr. 23, 1883 Feb. 20, 1891 Feb. 1, 1886 May 1, 1892 Aug. 5, 1885 Feb. 25. 18S9 Sept. 2, 1885 Oct. 1, 18'JO Feb. 20, 1884 Oct. 14, 1885 May 10, 1886 Aug. 3, 1886 May 1, 1883 JNov. 14, 1881 Nov. 1, 1887 Nov. 7, 1890 July 26, 1892 Mav 3, 1887 July 16, 1886 Apr. 15, 1884 Dec. 7, 1887 Mar. 3, 1881 July 11, 1888 Dec. — , 18S4 Sept. 1, 1891 Apr. 1, 1892 Mar. 7, 1887 July 1, 18S7 Sept. 6, 1888 Feb. 19, 1885 Jan. 2, 1885 Mar. 30, 1885 Dec. 11, 1885 Jan. 1. 1890 July 16, 1891 July 13, 1886 May 4, 1886 CHAPTER I. GENERAL TABLES. 57 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. II, I.Il\OIS-Contmu6d. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total Borrow- ers. Shares in force. Eeal estate loans. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local National Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local National... Local Local Local Local Local Local Local Local National. . . Local Local Local Local Local Local Local Local Local Local Locals Local Local Local Local Local Local National. . . Local Local Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Soii.il. Serial . Serial - Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Seriitl Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial 162 112 88 (a) 170 467 118 212 38 08 42 (a) (a.) 70 266 161 (a) 78 78 147 (a) 803 385 (a) 23 la) (a) 33 101 242 55 (a) 48 (a) 21 218 104 150 1,720 (a) (a) (a) 109 (a) 672 132 120 187 302 (a) 308 221 (a) 85 166 63 (a) 223 (a) 94 (a) (a) 172 53 81 (a) 33 226 48 150 9 9 111 (a) (a) 18 130 28 (a) 20 14 32 360 (a) 128 72 (of 7 (a) (a) 12 65 194 20 (a) 7 (a) 51 27 440 (a) (a) (a) 87 (a) 301 38 61 286 123 (a) 192 89 (a) (a) < (a) (a) (a) (a) (a) 203 152 130 337 203 693 160 47 77 153 350 163 88 396 180 85 98 92 179 1,152 1,336 931 457 850- 30 35 448 45 220 430 75 1,080 55 671 32 298 155 177 2,100 (a) 319 070 196 170 973 170 1S1 473 425 185 500 320 250 110 211 79 37 290 175 124 470 45 233 76 108 63 378 450 412 & Date of incorporation. 57 24 226 08 324 45 173 9 2 51 190 74 24 149 65 10 49 9 43 504 187 508 221 371 12 10 160 11 93 154 2 635 29 200 10 82 40 02 175 (a) 2S2 78 75 200 45 43 30 103 92 175 77 66 31 102 9 1 120 30 26 143 15 79 21 20 7 97 121 2,301 2,156 570 4,997 2,062 12, 537 3,494 3,250 568 513 3,146 7,289 2,089 1,131 4,633 2,600 473 1,159 1,000 2,092 21, 043 9, 335* 4, 943 9, 188 13, 721 409 1,097 7,084 1,181 2, 872 5,450 1,646 30, 511 482 13, 751 935 7,225 2,138 2,797 22, 267 6,097 5,081 10, 589 1,717 2,307 10, 158 2,084 1,562 3,172 8,436 2,602 11, 144i 10, 809" 3,245 2,500 3,102 2,074 278 6,990 1,625 1,065 14, 380 197 3,510 924 1,876 1,401 5,467 («) W (a) (a) <«) (a) 68 (a) (a) (a) (a) (a) (0) (a) (a) ('<> (a) (a) (a) («) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 104 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (o) (a) 41 (a) (a) (a) («) la) (a) (a) (a) 83 (a) (a) (a) (a) (a) 202 (a) 109 (a) (a) (a) (a) (a) 58 REPORT OF THE COMMISSIONER OP LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. I lu T, IN OI S— Continued. Mar- gin al nam ber. Locality. Name of association. Date of organization. cook county — cont'd. Chicago.. Chicago- . Chicago.. Chicago-. Chicago. - Chicago-- Chicago. - Chicago.. Chicago.. Chicago. . Chicago. . Chicago. . Chicago.. Chicago. . Chicago.. Chicago. . Chicago.. Chicago.. Chicago.. Chicago. . C,hicago.. Chicago.. Chicago- - Chicago.. Chicago. . Chicago. . Chicago.. Chicago. - Chicago.. Chicago. . Chicago.. Chicago- - Chicago.. Chicago. - Chicago.. Chicago.. Chicago. . Chicago.. Chicago .. Chicago.. Chicago.. Chicago.. Chicago.. Chicago.. Chicago. . Chicago. - Chicago. Chicago. Chicago. Chicago. Chicago- Chicago. Chicago. Chicago.. Chieago. Chicago. Chicago. Chicago. Chicago- Chicago.. Chicago . Chicago.. Chicago-. Chicago-. Chicago.. Chicago.. Chicago.. Chicago. . Chicago. - Cliicago.. Chicago. . Chicago.. Chicago. . Franklin Building and Loan Freeholders' Savings, Loan, and Building Free Home Building, Loan, and Homestead Fritz Router Building, Loan, and Homestead Garden City Equitable Loan and Building Garden City Foresters' Building and Loan Garden City Mutual Savings, Loan, and Building. Garfield Building and Loan German-American Savings, Loan, and Building Germania Building and Loan , German Mutual Building and Loan Golden Building, Loan, and Homestead Golden Rule Building and Loan , Grand Army of the Republic Building and Loan ... Grand Calumet Building and Loan Guarantee Building ana Loan Harrison Street Building, Loan, and Homestead Harugari Building and Loan Hoffnung Building, Loan, and Homestead Holland Building and Loan Home Builders' Loan and Building Home Building and Loan Homo Mutual Loan , Home Security Building and Loan House Building and Loan Hoyne Buildingand Homestead Hum bolt Park Building and Loan Illinois Buildingand Loan Illinois National Building and Loan Imperial Building and Loan Independent Building and Loan Industrial Building and Loan International Building, Loan, and Investment Tnion. Interocean Homestead and Loan Interstate Loan and Investment Investors' Loan and Building Jefferson Building, Loan, and Homestead Jeffery Building and Loan J. I. Krazewski Building and Loan Jiri Washington Building and Loan John A. Logan Homestead Loan and Building John A. Logan Mutual Loan and Building Jungman Building and Loan Kaspar Building and Loan King Kazimerthe Great Building and Loan King Mieczyslaus the First National Building, Loan, and Savings Bank. King Zigsmuud tin First Building and Loan Kirk beck Loan and Building ■ Klacel Building and Loan Klatovy Building and Loan, No. 2 Koerner Building and Loan Kosciuszko Building and Loan Kosciuszko Building and Loan, No. 3 Kronan Building and Loan Lafayette Building and Loan Lake, Hyde Park, and Chicago Building and Loan.. Lake Shore Building, Loan, and Homestead Lakeside Building, Loan, and Homestead Lakeviow Buildingand Loan La SnlleBuilding and Loan ..'. Lev Building and Loan, No. 1 Lincoln and Filth "Ward Buildingand Loan Lincoln Park Masonic Building and Loan Linno Building, Loan, and Homestead Live Oak Building and Loan Live Stock Building and Loan Loan and Investment Company of North America.. Logan Buildingand Loan Logan Council Buildine and Loan Lot Owners' Loan andl^uilding Lumberman's Buildingand Loan Madison Building and Loan Manning Building and Loan Apr. Nov. Mar. Oct. Oct. Oct. Feb. Feb. Apr. July May June Feb. May Aug. June Apr. May Nov. Jan. Sept. Nov. May Feb. Sept. July Dec. Sept. Aug. Feb. Mar. Oct. Mar. Nov. Feb. Feb. Mar. July Dec. June Mar. Apr. Oct. May Jan. June Apr. 6 July June Juno Feb. Sept Jan. Aug. Mar. Dec. July Sept. Oct. July Feb. May Dec. Apr. Jan. Jan. Sept. June Mar. Mar. Nov. Feb. Jan. 14. 1884 1,1888 27. 1883 15. 1888 2, 1882 4, 1890 8, 1882 3. 1882 1,1889 2. 1883 9. 1887 1, 1883 14. 1887 15. 1885 9, 1887 25. 1889 5, 1892 1. 1889 3, 1883 2, 1882 23. 1890 1. 1886 19. 1884 14. 1888 — , 1884 27, 1-887 11, 1883 19, 1883 18, 1831 1. 1888 23,1892 4. 1887 30. 1887 23, 1890 1,1890 5, 18H9 21, 1883 17, 1890 1. 1890 5. 1889 2. 1887 1, 1887 4. 1890 29. 1888 27. 1886 10, 1891 23. 1886 1, 1890 13, 1891 25. 1891 3, 1889 1. 1887 15,1891 16. 1887 28. 1886 13, 1885 4, 1883 1, 1885 1. 1888 11,1892 21, 1882 7,1888 25. 1892 25, 1890 8. 1S90 29, 1890 17, 1885 1, 1888 14. 1887 — . 1889 17.1887 1, 1887 aNo^ reported. CHAPTER I. GENERAL TABLES. 59 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IljUIVOIS-Continued. Local or national. Local Local Local Local Local .... Local Local .... Local Local Local LoceI.... Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Xocal Local National Local Local Local National National National Local Local Local Local Local Local Local Local Locai Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local National. . .. Local Local Local Local Local Local Permanent, termi- nating, or serial. Serial Serial Serial Serial Serial Serial Serial Serial Serial , Permanent Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Permanent Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Seria 1 Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial . ._.. . Serial Serial Serial Serial Serial Serial Serial Sei'ial Serial Serial Serial Serial Shareholders. Male. (a) 52 774 89 559 131 229 361 98 840 87 (a) 143 25C 45 73 (a) 222 241 232 42 (a) 1,160 34 193 170 210 la) la) (a) 228 156 (a) (a) 447 237 la) 40 221 (ol 132 146 (a) (a) 157 W 116 la) (a) 172 127 233 341 81 292 52 (a) 165 243 93 100 938 77 (a) 70 (a) (a) la.) 99 140 624 150 150 Female. Total la) 17 334 20 253 35 50 274 30 la) 67 119 la) (a) 365 10 111 40 45 la) la) la) 123 72 la) (a) 153 130 (a) (a) (a) (a) (a) 38 10 2 31 9 106 19 la) 59 127 48 23 335 23 la) la) (a) 35 70 270 50 81 310 69 1,108 115 812 180 285 443 123 1,114 117 329 210 375 47 110 70 300 300 288 48 700 1,525 44 304 222 255 6J0 174 100 351 228 4,875 1,264 600 367 367 56 289 175 210 190 80 338 195 190 122 253 110 210 143 235 372 90 398 71 290 224 370 141 123 1,333 100 32 81 92 508 422 134 22 '2 900 200 231 Borrow- ers. 145 21 531 43 275 10 117 141 20 508 25 101 68 170 18 J5 11 80 123 95 17 235 500 18 74 75 103 235 4 15 41 07 010 59 165 68 150 10 02 140 40 77 24 143 102 32 35 73 12 65 27 78 46 41 245 27 100 64 113 35 21 422 17 4 18 32 30 131 43 77 100 65 48 Shares in force. 3,567 1,411 16, 962 964 17, 430 2,036 2,602 4,283 1.529 14, 251 2.042 3,341 4,310 7,323 245 2,091 5S5 2.909 2.783 3,873 949 11,976 16,215 688 7.506 1,976 2.026 7,704 1,390 2. 693 7,588 1, 74-1 41, 963 8, 231 7,088 4,443 2 882 559 2,419 1.801 2, 665 3,406 1,396 2,917 1,517 1,445 947 4,499 1,015 1,282 1,859 2,162 2,745 849 5,643 1,209 6,172 2,182 5,411 1,526 905 13, 538,% 1.928 301J 846 1,074 4,885 4,546 2,360 6, 008 15, 307 3, 312 2,177 Real estate loans. la) la) (al (a) (a) (a) la) la) (a) (a) (a) (a) la) la) la) la) la) la) la) (a) (a) (a) la) la) (re) (a) (a) la) (a) la> SI (a) la) la) la) la) (a) la) la) (a) (al (a) la) la) la) (a) (a> («) (a) (a) la) la) (a) la) la) 2', la) la) V, la) la) la) la) 15: la) la) (a) (a) (a) b Date of incorporation . 60 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IJLJLIIVOIS— Continued. * Name of association. Date of organization. cook county— cont'd. Chicago Chicago Chicago -. Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago . . . . Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Chicago Maplewood Loan, Building, and Homestead Marquctto Building and Loan Masonic Building, Loan, and Savings Masonic Globe Building and Savings Mechanics and Traders' Savings, Loan, and Building. Metropolitan Building and Loan Milwaukee Avenue Building and Loan Mississippi Valley Homestead and Loan Model Building, Loan, and Homestead Monarch Building and Loan Monitor B uilding and Loan Mount Pleasant Building Mutual Building and Loan Mutual Security, Loan, and Building Mutual Union Loan and Building National Building, Loan, and Investment Society National Loan and Building National Loan and Investment Company National Masonic Savings and Loan, No. 1 National Savings and Loan National State Building and Loan National Union Savings, Loan, and Homestead New City Building ana Loan New Fort Dearborn Building and Loan New Hamburg Building, Loan, and Homestead Normal Park Loan Nortli and South Building and Loan North Avenuo Building and Loan North Chicago Mutual Saving ■> and Building Northern Building and Loan JS orth Shore Building and Loan Northwest Chicago Homestead and Investment Northwestern Loan and Building Oakland Building Occidental Building and Loan Ogden Building and Loan Omnium Building and Loan Company Original Building and Loan O liI Homestead Pacific Loan and Homestead , Parkside Loan and Savings Company Peerless B uilding and Loan People's Building and Loan Phoenix Building Society Pioneer Building and Loan Pisek Buildiug and Loan Plymouth Rock Building and Loan Plzen Building and Loan - Policemen ana Firemen's Building and Loan Polish- American Loan and Building Polish National Loan and Building Porter Homo Building, Loan, and Savings Praha Loan and Building, No. 3 Prairie State Loan and Buildiug Prairie State National Building and Loan Pravda Building and Loan Prosperity Building and Loan , Protection Building and Loan Protective Savings and Loan Provident Building and Loan Public Savings, Loan, and Building Pulaski Building, Loan, and Investment Society Pulaski Loan and Building of the Sixth Ward Queen City Loan and Building Kail way Homestead and Loan Reliable Savings and Loan Reliance Building, Loan, and Homestead Republic Loan and Building Reserve Fund Building andLoan of America Revenue Loan and Building Rheinish Building and Loan Koseland Savings, Loan, and Building Company Rothinaenner Savings, Loan, and Building Royal Arcanum Savings and Loan n Not TwinTtfcd. June 1, Mar. 10, June 14, Apr. 1, July 18, Oct. 20, Dec. 1, Dec. — , July 4, June 11, Dec. 31, Aug. 3, Oct. 13, July 1, Oct. 16, 6Feb. 7, Sept. 16, Apr. 1, May 16, Mar. 23, &Mar. 4, Sept. 29, Mar. 3, Aug. 31, May 1, Feb. 8, Mar. 1, Dec. 27, May 4, Sept. 1, Feb. 10, July 25, Oct. 6, July 1, July 2, May 22, Sept. 5, Dec. 26, Dec. 10, May 10, Oct. 25, Aug. 1, Mar. 14, Oct. ;j, Dec. 1, Dec. 3, Feb. 1, July 1, Mar. 22, Aug. 5, Feb. 28, Sept. 24, Juno 21, July 24, Oct. 1, June 2, Oct, 1, Apr. 4, Sept. 14, Oct. 6, Feb. 1, Sept. 7, Feb. 12, July 5, Mar. 6, Mar. 3, Jan. 20, Jan. 30, Aug. 15, Mar. 17, Mar. 2, Sept. 26, Apr. 30, July 28, 1887 1888 1888 1891 1875 1885 1891 1889 1892 1888 1887 1886 1884 1886 188;! 1890 1884 1890 1891 1885 1892 1888 1891 1885 1800 1887 1801 1886 1882 1890 1891 1892 1882 1880 1886 18S8 1892 1891 1887 1888 1885 1887 1874 188U 1886 1886 1888 1888 1887 1891 1888 1891 1800 1883 189L 1890 1886 1887 1880 1884 1888 1889 1890 18S5 1890 1886 1886 1888 1890 1891 1892 1885 1887 1888 CHAPTER I. — GENERAL TABLES. 61 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. Ili HIVOIS— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Heal estate loans. Mar- Dum- ber Male. Female. Total. Local Local National Local Local National Local Local Local Local Local National Local National National Local Local Local Local Local Local Local National Local Local Local Local Lo.al Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local -. Local Local Local Local National Local Local Local Local . , Local Local Local Local Local Local Local Local National Local Local Local (a) 89 394 (a) (a) (a) 139 (a) (a) (a) 380 129 285 241 (a) 1,156 (a) <«> (O) 211 18 80 141 193 27 150 (a) W 1,111 151 119 S5 437 329 157 189 81 43 (a) 778 48 297 801 (a) (CI) (a) 52 (a) (a) 99 la) 22 128 84 (a) (a) 540 (a) (a) (a) 376 353 238 160 ( a) 119 114 217 61 384 73 (a) 350 25 (a) 39 79 (a) (o) (a) 20 (a) (a) (a) 225 40 111 101 (a) 388 (a) (a) (a) 39 9 44 12 64 10 105 (a) (a) 449 48 27 8 283 163 53 65 7 11 (a) 198 10 05 344 (a) (a) (a) 11 (a) (a) 10 (a) 8 102 36 (a) (a) 110 (a) (a) (a) 221 47 74 150 (a) 56 61 105 8 119 12 (a) 85 7 212 128 473 541 3,000 108 159 2,000 43 85 611 169 396 342 1,200 1, 542 600 1,009 300 250 27 130 153 257 37 255 1 800 550 1,560 199 146 43 720 492 210 254 88 54 305 976 58 362 1,145 4,000 323 170 03 327 79 109 251 30 230 120 196 113 650 160 27 278 597 400 312 310 95 175 175 322 09 503 85 210 435 32 75 77 44 01 750 31 3 21 5 34 130 95 158 120 450 95 150 150 12 133 10 34 71 100 11 57 98 225 725 18 19 2 200 151 61 82 21 5 128 346 19 97 (a) 1,012 80 48 43 141 46 13 00 2 52 46 20 40 240 40 9 114 295 70 77 117 28 56 75 96 16 40 7 104 185 9 1,814 2,352 5,599 5,994 38, 375 1,877 1,550 23,815 532 1,148 6,384 1,848 8. 28!) 0,807 13, 660 13, 130 5,801 9, 009 3, 206 5,067 145 2,181 010 5,763 373 4,346 8,475 4,812 23, 087 2,424 2, 250 406 12, 940 8,626 2, 613i 4, 05'.)" 1, 275 1,299 2,827 23, 708 558 1,231 25, 838 29, 850 3,246 1, 929 1, 149 3,445 1,025 1,746 4,320 180 2,282 1,046 2, 550 1,228 9,720 2,357 459 2,073 13, 106 6,436 1,850 8 121 1,345 2,216 3,071 11, 193 1,074 9,078 2,017 3,672 4,826 862 (a) (a) (a) W (a) (a) W (a) («) (a) (a) i a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) («i (a) (a) (a) 150 140 (a) <«) (a) (a) (a) (a) (a) (a) (a) («) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 1 •/ 3 4 5 fi Serial 7 8 9 10 11 12 13 14 Serial 15 10 17 18 19 20 21 22 23 24 25 20 21 28 29 30 31 32 33 Serial Serial 34 35 • 36 Serial . 37 38 39 4C 41 42 43 44 4b 4b 47 Serial a 49 50 51 52 53 54 bo 5fc 5' 5t 51 01 0) 62 6c 64 bt 6t b bl 6 1 7( 7 7' 7! 7< 6 Date of incorporation. 62 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. ILLINOIS- Continued. Locality. Name of association. Date of organization cook county— cont'd. Chicago. Chicago. Chicago. Chicago. Chicago. Chicago. Chicago. Chicago . Chicago.. Chicago . Chicago. Chicago . . Chicago.. Chicago.. Chicago.. Chicago.. Chicago.. Chicago.. Chicago.. Chicago.. Chicago.. Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago - Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago . Chicago - Chicago . Chicago . Chicago . Chicago . Chicago .. Chicago . Chicago .. Colehour . Safety Loan and Building Saint Joseph Building and Loan Saint Paul Building and Loan Savings Building and Loan Scottish-American Building, Loan, and Savings . Security Loan and Building Silver Leaf Building and Loan Silver Safe Loan and Building Sixteenth Ward Building Sixth "Ward Building and Loan Slavia Building and Loan Solid Building and Loan South Chicago Building and Loan South Side Mutual Building and Loan South Town Loan and Building Standard Building, Loan, and Homestead Standard Loan and Investment Company Star Loan and Building Stephen A. Douglas Loan and Building Stockman's National Building, Loan, and Savings Union. Sun Building, Savings, and Loan Superior Savings, Loan, and Building Surety Building, Loan, and Homestead Surety Loan and Savings Company Svornost Building, Loan, and Homestead Swedish Building and Loan, Ko. 1 Swedish Building and Loan " Scandia" Tacoma Building and Loan Templar Building and Loan Tenth "Ward Building and Loan Tentonia Building Thirty-first Street Building an d Loan Title and Trust Building and Loan Travelling Men's Building and Loan True Plan Homestead, Building, and Loan True Standard Loan and Building Twelfth Ward Building andLoan Twenty -second StreetBuildiug, Loan, anil Homestead Uhland Building and Loan , Union Building and Loan Union Enterprise Building and Loan Union Mutual Building and Loan Union Savings, Loan, and Building United Citizens' Building and Loan United States Building and Loan Society Universal Building and Loan Veteran Building and Loan Victor Building and Loau Victor Hugo Loan and Building Village Loan and Building VJastenec Building and Loan Vypomocny Spolek Tabor, Cis 2 Vysehrad Building and Loan "VI ahash Loan and Building , Wage Earners' Building and Loan Washington Loan and Building Washington Park Building and Loan Webster Savings, Loan, and Building Wendell Phillips Building anil Loan Wentworlh Avenue Mutual Loan and Building Went worth Building West Chicago Building and Loan "West Division Street Build ing and Loan "West End Loan and Building "Western Avenue Building and Loan Western Springs Building and Loan Western Union Building and Loan West North Avenue Building, Loan, and Homestead. West Side Einigkeit Bau und Spar Veroin Wide Awake Building and Loan Young Men's Savings, Loan, and Building Commercial Building, Loan, and Investment May Jan. Nov. May Sept. Jan. July Feb. Feb. Mar. Feb. Oct. Sept. Oct. July Mar. Jan. Apr. Mar. May 20. 1886 6, 1887 1, 1890 11,1888 22, 1888 15, 1883 1. 1887 4, 1890 24. 1887 14. 1883 9, 1886 4. 1888 19, 1882 1, 1886 23. 1888 1. 1886 1, 1800 11. 1884 2. 1887 3, 1890 Nov. 4, Nov. 22, Apr. 6, June 10, July 2, Jan. 23. Nov. 18, Aug. 23, Mar. 19, Apr. 1, Aug. 21, Oct. 7, Sept. 1, June 20, May 15, Apr. 9, Apr. 1, Mar. 2, Sept. 1, Aug. 24, June 8, July 8, July 16, Apr. 13, Apr. 21, Jan. 1, July , 2, July 1, Aug. 6, Apr. 1, Apr. 5, July 25, June 13, Mar. 20, Jan. 18, Apr. 26, Dec. IS, Sept. 17, May 22, July 1, Mar. 31, Sept. 21, Apr. 20, Sept. 14. Oct. 13, Mar. 11, Oct. 27, Mar. 24, Apr. 18, Aug. 25, Oct. 4, Feb. 20, 1887 1892 1887 1885 1884 1886 1889 1891 1892 1892 1886 1892 1892 1881 1888 1887 1886 1887 1886 1888 18!)2 1881 1886 1885 18110 1887 1887 1885 1884 1888 1887 1891 1886 1890 1888 1888 1888 1K85 1883 1887 1883 1888 1885 1886 1887 1891 1«85 1891 1892 1887 1891 a Not reported- CHAPTER I. GENERAL TABLES. 63 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IJLIillVOIS— Continued. Local or national. Permanent, termi- nating, or serial. Shareholuei 9. Borrow- ers. Shares in force. Heal estate loans. Mar- gin- al num- ber. Male. Female. Total. Local Local Local ' Local Local Local Local Local Local Local Local Local Local Local Local National Local Local National Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local , Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local National Local Local Local 317 423 96 <«> 46 (a) 256 22 268 220 151 (a) 204 95 89 192 (a) 281 '268 343 165 98 (a) 109 146 1,162 295 40 184 (a) 47 131 83 177 375 123 (a) 141 161 (a) 26 (a) 32a (a) 202 78 («■) (a) (a) 365 (a) 243 64 91 63 (a) (a) 82 (a) 143 145 148 78 (a) 35 43 339 474 10 22 220 (a) 99 27 19 (a) 10 (a) 65 8 48 67 46 (a) 51 15 16 72 (a) 94 95 37 75 45 (a) 32 31 413 156 13 486 (a) 16 85 26 27 137 52 (a) 26 44 (a) 17 (a) 74 (a) 142 22 (a) (a) (a) 215 (a) 82 14 55 13 (a) (a) 34 (a) 55 41 36 27 (a) 30 17 61 155 1 7 101 (a) 416 450 115 56 56 320 321 30 316 287 197 158 255 110 105 264 800 375 363 380 240 143 19 141 177 1,575 451 53 670 12 63 216 109 204 512 175 75 167 205 198 43 37 400 209 344 100 229 86 330 580 218 325 78 140 76 127 63 116 101 198 186 184 105 135 65 60 400 620 11 29 321 54 185 215 28 13 23 160 116 7 105 123 67 49 105 36 35 68 82 139 83 76 27 32 1 49 48 450 74 8 12 8,562 5,498 1,252 1,279 752 4,433 3,082 383 3, 522 2, 789 2,550 1,571 4,609 2,127 2,807 3,461 7,246 4,461 5,749 5, 327 5,289 1,362 301 1,478 1,931 21, 782 4,231 784 889 215 295 5,247 2. 944 5,501 7, 480 i 3,198 1.130 1,620 2.277 3,244 454 331 7,727 1,830 9,331 1.219 3.909 1. 092 2,764 12, 921 3, 643 3,610 734 2,904 1.098 1.451 026 2,153 1.154 3,062 2. 863 2,955 1,200 2,148 615 1,011 4,509 5,757 84 225 5,655 482 (a) (a) {a) (») (a) (a) (a) (a) (a) (a) (a) (a) (o) (a) (a) (a) (a) (a) (a) (a) («) (a) (a) («) (a) (a) (a) (a) (a) (a) (a) (a) (a) («> (a) («> (a) (a) (o) (a) 8 (a) 157 (a) (a) (a) (a) (a) (a) (a) l« 1 la) («) (o) (a) [a) (a) 40 «0 (a) (n) (a) (a) (a) (a) (a) fa) (as) (a) «X (a) (a) 1 2 4 Serial . . 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Swriai 22 23 24 25 »6 27 28 Serial 29 Serial 30 6 77 6 35 215 30 15 49 104 118 12 5 153 82 100 29 63 30 95 243 148 217 18 61 23 48 8 43 28 60 44 71 32 42 13 11 32 197 8 3 57 25 31 SW 3,1 34 Serial 35 36 37 38 39 Serial 40 Stxinl 41 4?, 43 44 Serial 45 Serial 46 47 48 49 5.1 51 52 ri.i SI .yj 56 n7 58 59 Seriiil 60 61 62 63 64 66 66 - 67 68 Serial 69 '70 71 72 64 REPORT OF THE COMMISSIONER OF LABOR. Table I NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. ILLINOIS— Continued. Mar-! gin- 1 ill num- ber. Locality. Name of association. Date of organization. cook county— conc'd. Coleliour Englewood Englewood Englewood Evanston Evanston Evanston Grand Crossing Hegewisch Irving Park Kensington Lemonfc May wood Norwood Park Oak Park Oak Park Ravens wood Rogers Park South Chicago South Englewood Wiunetka CRAWFORD COUNTY/. Palestine Robinson CUMBERLAND COUNTY. Neoga DEKALB COUNTY. DeKalb Sycamore DEWITT COUNTY. Clinton Farmer City Kenney DOUGLAS COUNTY. Areola Newman Tuscola DUPAGE COUNTY. Downer's Grove Elmhurst Hinsdale Naperville EDGAIl COUNTY. Brocton Hunie Kansas Metcalf Paris EDWARDS COUNTY. Albion EFFINGHAM COUNTY. Altamont Effingham Effingham Shumway Friendship Building and Loan, No. 2 Concordia Building, Loan, and Homestead Englewood Building and Loan Harvard Building and. Loan Business Men's Building and Loan Evanston and North Cook Building and Loan . . Evanston Savings and Loan Grand Crossing Building and Loan Hegewisch Building and Loan Irving Park Loan and Building Calumet Building and Loan Lemout Building, Loan, and Homestead Melrose and May wood Building and Loan Norwood Park Building, Loan, and Homestead Homestead Building and Loan Oak Park Building and Loan Ravenswood Loan and Building Rogers Park Building and Loan Royal Building and Loan Girard Building and Loan "Wiunetka Building and Loan Palestine Building and Loan Crawford Building and Loan Neoga Loan and Building , De Kalb Building and Loan De Kalb County Savings and Loan Dewitt County Building Farmer City Building Kenney Building and Loan Areola Homestead and Loan Newman Building and Loan Tuscola Benefit and Building Downer's Grove Loan and Homestead , Elmhurst Building and Loan Hinsdale Building and Loan , Naperville Building and Loan Brocton Building and Loan Hume Building and Loan Kansas Building and Loan , Metcalf Building and Loan Edgar County Building and Loan Edwards County Loan and Building Altamont Building and Loan , Effingham Building and Loan Washington Loan and Building. Shumway Building, Loan, and Homestead a Not reported. Oct. 1, 1888 Mar. 2, 188D July 14, 1884 May 29, 1801 Mar. 1, 1800 Apr. 14, 18S3 July 1, 1888 Mar. C, 1888 Dec. 18,1888 May 15,1889 June 1,1884 Aug. 1,1885 &Mar. 21, 1889 Apr. 1, 1887 Mar. 28, 1888 Mar. 4,1885 Jan. 25,1886 Jan. 1,1800 Aug. 10, 1887 July -,1886 Jan. 1, 1887 June 4,1887 June 1. 1883 May 5, 1884 June 15,1885 Mar. 1, 1887 July 23,1887 Jan. —.1888 Jan. 11, 1890 Mar. 19,1883 Apr. —,1880 May 1, 1882 Apr. 1, 1888 Apr. 7, 1891 Feb. 1,1888 June 12, 1890 Feb. 1, 1890 Mnr. 26,1888 May 29,1886 Dec. 11, 1889 Apr. 4, 1887 Apr. 2, 1887 Mar. 4, 1S86 May 16,1890 Aug. 27, 1883 Mar. 3, 1888 CHAPTER I. GENERAL TABLES. 65 Tabus I.— NAME, LOCALITY, AND DESCRIPTION OF A SS,OCIATIONS— Cont'd II, I.IIVOI8— Continued. Local or ' national. Permanent, termi- nating, or aerial. Shareholders. -Borrow- ers. Shares in force. Heal estate loans. Mar- gin- al num- ber. Male. Female. Total. Local Local Local ' Local Local Local Local Local Local Local ■- ' Local ' Local Local Local Local Local Local Local Local Local Local Local Local t Local Local Local Local Local Local ,.- Local ' Local Local , Local 223 200 (a) 110 (a) 711 293 88 20 52 320 287 52 119 137 <») 82 (a) 108 (a) 96 45 144 (a) 166 171 (a) 102 32 162 145 451 (a) 127 (a) (a) 32 70 96 18 313 W (a) 74 299 46 24 65 (a) 35 (a) 374 157' 45 1 7 30 49 17 34 37 (a) 43 (a) 72 (a) 44 22 30 (a) 81 48 (a) . 41 4 73 36 104 (a) 17 (a) («) 9 16 48 1 87 (a) 'a) 20 182 17 47 265 815 145 425 1,085 450 133 21 69 350 336 69 153 174 506 125 185 180 90 140 67 174 236 247 219 450 143 36 235 181 555 195 144 250 95 41 86 144 19 400 300 187 94 481 03 73 91 448 15 163 370 85 45 13 10 201 210 21 57 45 190 50 70 63 30 80 30 112 125 103 73 160 70 15 121 96 216 49 16 70 12 17 38 78 4 (a) 83, 97 12 190 27 1,664 6,418 17, 055 1,943 2, 025J 14,944 9,440 1,860 164 924- 4,884 3,073 1,101 1,934 4,806 10, 396J 1,667 2,103 1,567 1,274- 2, 397 346 1, 225i 1,511 2,921 1,719 2,685 1,099 562 2,180 1,377 7,337 2,005 1,287 4,581 821 356 623 1,829 175 5,148 1,507 1,211 791 3.091 379 (a) (a) (a) .(0) (a) (a.) (a) fa) (a) (a) (a) (a) 25 (a) (a) (a) (a) (a) (a) (a) (a) 31 129 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 83 134 12 (a) 21 1 2 3 4 s 6 7 8 9 18 11 18 13 H 16 IS 17 18 19 26 21 22 23 U 25 2« 27 28 2S 38 31 33 33 34 35 36 37 38 39 40 41 42 43 44 45 4f b Date of incorporation. H. Ex. 209- 66 REPORT OF THE COMMISSIONER OP LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. U1E.IIVOIS— Continued. Mar-! gin- 1 al num- ber. ! Locality. Name of association . Bato of organization. Jan. May 25,1888 5, 1884 -Aug. June Oct. Mar. 1,1888 4, 1883 1,1890 3,1883 Dec. June Oct. July July Apr. Deo. May 4,1885 3,1882 12. 1888 1, 1889 1, 1882 5, 1888 19, 1892 23. 1889 Oct. July 25, 1888 23, 1887 July Jan. Sept. 30, 1884 22, 1884 10, 1890 Deo. July Jan. Dec. July Dec. May 1,1885 1, 1885 1, 1891 14. 1888 26. 1889 0,3889 3, 1883 Nor. Nov. Nov. 29, 1882 4,1882 12, 1890 May 4, 3889 June 1,1883 Feb. 10,1883 June 11, 1887 Feb. 1, 1889 May 11,1883, Feb. 7, 18B1 Jan. 9, 1888 May 12, 1885 June 15, 1890 Feb. 7, 1884 June 1, 1883 FAYETTE COUNTY. Farina Vandalia FORD COUNTY. Cabery Gibson City Gibson City Paxton FULTON COUNTY. Astoria Canton Cuba Ipava Lewiston London Mills Table Grove Vermont GALLATIN COUNTY. Ridgway Snawneetown GREENE COUNTY. Carrollton Eoodhouse White Hall HANCOCK COUNTY. Augusta Carthage Dalla s City Hamilton La Harpe Pl ymouth "Warsaw HENRY COUNTY. GalTa Kowanee Kewanee IROQUOIS COUNTY. Cissna Park Gilman Milford Onarga Sheldon.., Watseka JACKSON COUNTY. Ava Carbondale Murphysboro Murphysboro JASPER COUNTY. Newton JEFFERSON COUNTY. Mount Yeraon Parina Building and Loan Citiaens'Mutual Building, LoaD, and Homestead . Cabery Building and Loan. ... Gibson City Savings and Building People's International Investment and Loan Paxton Building, Loan, and Savings - Astoria Mutual Building, Loan, and Homestead Canton Homestead and Loan Cuba Building and Loan Homestead and Loan Lewiston Building London Homestead and Loan I Table Grove Building and Loan Vermont Loan and Building. Eidgway Building ' Shawneetown Homo, Building, and Loan Greene County Savings and Loan IloodhousD Building, Loan, and Savings White Hall Building and Loan Augusia Savings, Loan, ami Building Carthage Savings, Loan, and Building Dallas City Building and Loan Hamilton Loan and Building La Harpe Loan and Building Plymouth Savings, Loan, and Building Young Men's Homestead Loan Galva Homestead and Loan Kewanec Building and Loan Union Building and Loan Cissna Park Building and Savings Gilraan Building and Loan Milford Building and Loan !!!!"_ Onarga Mutual Building-Loan Sheldon Building and Loan Iroquois Building and Loan Ava Building and Loan , Carbondale Building, Loan, and Homestead.".!!.!!! Jackson County Homestead, Loan, and Building... Southern Illinois Building and Loan Jasper County Loan and Building Mount Vernon Loan and Building "a Not reported. CHAPTER I, GENERAL TABLES. 67 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. I .LI. I NOBS— Continued. Local or national.. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total Borrow- ers. Shares in force. Eeal estate loans. Local - Local . Local Local National. Local . Local Local . Local . Local . Local . Local . Local . Local . - - Local ' Local . Local - Loeaii . Local . Laeal . Local . Local . Loeal . Local . Local. Serial . Serial . Serial . Serial . Serial . Serial . Local Serial Local Local National Local . Local . Local . Loeal . Local - Local . Local . Local . Local . Local . Local . Local . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial - Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial - Serial . Serial . Serial . Serial . Serial . Serial . Serial . 132. (a) 44 100 (a) 290 354 140 08 004 m 52 02 «*)■ (a) <*) (a) (a) . 120: 59 60 (a) (a) (a) 50 (a) («) 141 (a) 31 165 (a) (a) (a) (a) 240 35 13 296 19 (a) (a) 202 (*> 24 (a) (as.) (a) (a): (a) (a) (a) (a) 39 6 111 (a) (a) (a) 180 217 51 192 800 623 325 600 175 81 900 76 60 85 517 112 118 46 156 81 75 218 194 300 301 60 130- 177 201 140 120 37 270 234 172 18 120 87 110 247 90 26 327 35 6 30 118 62 19 148 107 10 35 24 16 91 70 140 90 7 100 94 26 403 1,524$ 3,301 5, 516, 5,847 1,126 485 2,329. 272 524 780 249 387 3,691 1,263 821 I', 380 1,788 425 1,109 494 347 1, 780. 1,665 2,657 1,707 670 958 1,925 2, 33.7 921 1, 802J 144 2,258 2; 287J 1,512 2,138 87 108 21 (a) 87 (a) 107 247 00 23 237 35 30 118 «*) (a) (a) (a) 10 (a) 87 110 (,a). (a) (a) 7 118 (a) 160 81 68 REPORT OF THE COMMISSIONER OF LABOR. Tablr I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS—Cont'd. I£j r^IlVOIS— Continued. Locality. Namo of association. Date of organization, JERSEY COUNTY. Jersey ville JOHNSON COUNTY. Vienna KANE COUNTY. Aurora Aurora Aurora Elgin Saint Charles KANKAKEE COUNTY. Kankakee Kankakee Momence Saint, Anne KNOX COUNTY. Galesburg Galesburg Galesburg LAKE COUNTY. Highland Park Waukegan Waukegan LASALLE COUNTY. La Salle LaSallo La Salle La Sallo La Salle La Salle La Salle La Salle La Salle Marseilles Mendota Ottawa Ottawa , Peru , Peru , Peru Peru Streator Streator , Streator LAWRENCE COUNTY. Bridgeport Sumner LEE COUNTY. Dixon , LIVINGSTON COUNTY. Fairbury Forrest Pontiac Jerseyville Building, Loan, and Homestead Johnson County Building and Loan Fox Bjver Valley Building and Loan Home Building and Loan . ... g Improvement Building and Loan Elgin Loan and Homestead Saint Charles Building and Loan Kankakee Building and Loan Kankakee In vestment and Loan Momence Building and Loan Saint Anno Building and Loan Fidelity Savings and Loan Society Mechanics' Homestead and Loan Mutual Loan and Building Highland Park Building, Loan, and Homestead Lake County Building and Loan "Waukegan Borrowers and Investors' Building, Improving, and Loan Eagle Polish Building Equitable Loan and Building Eureka Building Imperial City Building Postep Polish. Building Star Building Union "Workmen's Building "Workman's Loan " Marseilles Building and Loan Mendota Building and Loan Ottawa Building, Homestead, and Savings Valley Building and Loan Arbiter Bau Verein Peru State Building and Savings Society Unity Building Workmen 's Loan Streator Building and Loan Streator German Building Union Building and Loan Bridgeport Building and Loan Sumner Building and Loan , Dixon Loan and Building Fairbury Building and Loan Forrest Building and Loan Pontiac Loan and Building a Not reported. May 27, 1S87 Apr. 1, 1887 Apr. 19, 1890 Sept. 25, 1882 Nov. 1, 1891 Apr. 1, 1883 May 1, 1891 May 1, 1885 Sept. 1, 1892 Apr. 10, 1888 Feb. 20, 1889 Oct. 2, 1892 Apr. 14, 1882 Nov. 19, 1887 uan. 8, 1888 Sept. 12, 1887 Dec. 11,1891 May 8, 1891 Sept. 19, 1889 Jan. 18, 1889 May 7, 1885 Mar. 3, 1888 Mar. 8, 1888 May 16, 1891 Sept. 18, 1888 Nov. 10, 1886 Apr. 1, 1890 Oct. 4, 1889 Aug. 21, 1871 July 1,1889 Mar. 7, 1891 Feb. 25,1892 Nov. 15, 1887 Oct. 31,1887 Feb, 27, 1874 June 7, 1886 Jan. 20,1892 J~uno 24, 1887 Aug. 4,188? May 13,1887 Mar. 10,1883 Apr. 1, 1886 Oct. 12.1885 CHAPTER I, — GENERAL TABLES. 69 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. ILLINOIS- Continued. Local or national. Local . Local . Local . Local . Local . Local . Local . Local National.. Local Local Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local. Local . Local . Local . Locai . Local . Local . Permanent, termi- nating, or serial. Serial . Serial . Serial - Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial Terminating . Serial Serial Terminating . Terminating . Terminating . Serial Serial Serial Serial Serial Serial Terminating . Serial Serial Serial Serial Serial Serial Serial . Serial . Serial . Serial . Serial . Shareholders. Male. Female. Total. 178 (a) 523 133 600 45 (re) 250 96 40 (re) (re) (re) 171 338 58 29 90 41 (re) 33 215 102 55 (a) (re) 77 33 369 87 117 181 176 (a) 231 30 400 15 (re) (a) (re) (a) (a) 4 155 (a) (a) (a) (re) 132 754 163 ,000 60 275 318 145 47 116 1,423 160 112 640 45 28 103 204 429 00 40 123 190 37 370 250 62 27 140 81 41 407 115 143 215 244 176 108 .Borrow- ers. 48 384 17 400 7 140 46 41 17 12 511 69 54 177 6 6 59 66 168 57 25 24 30 58 44 10 135 40 14 3 87 15 22 155 12 54 140 Shares i: force. Mar- Real gin- estate I al loans, num- ber. 2, 717J 1, 891 48 11,904 383 2,613 15 12, 421 457 595 7 4,314 3,349 1,305 443 1.326J, 12, 842" 2,115 1,707 5,311 1,236 409 778 1,455 3,709 511 187 849 308 1,604 1,773 314 4,025 3, 118 603 233 930 778 269 3,932 1,007 965 1,625 2,698 2,097 1,349* 2,360" (re) 152 (a) 60 20 (a) 511 09 (a) (a) (a) (re) (a) (a) 211 35 (a) (re) (a) 67 43 («) 145 47 (a) (a) (a) (re) (re) («) (re) 59 174 (a) (n) (n) 70 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. II*JLirc©IS— Continued. Locality. LOGAN COUNTY. Atlanta Latham Lincoln - Mount Pulaski M r DONOUGH COUNTY Bushnell Colchester Macomb , MTCEMIY COUNTY. Harvard M*XEAN COUNTY. Bellflower Bloomington Blooniington Bloomington Bloomington Bloomington Bloomington Bloomington. — Bloomington Bloomington Bloomington Bloomington Chenoa Le Roy McLean -. McLean Normal Saybrook MACON COUNTY. Blue Mound Decatur Decatur Decatur Warrensburg MACOUPIN COUNTY. Bunker Hill Carlinville Gillespie G-irard _ Modesto Palmyra Staunton Virdcn MADISON COUNTY. Alton Alton Alton Collins ville Collins ville Edwards ville Edwards ville Edwardsville Troy Upper Alton "Upper Altoa Name of association. Atlanta Building and Loan Latham Building and Loan Lincoln Savings and Building , People's Savings and Loan Home Building and Loan Colchester Building and Loan. Macomb Building- and Loan . . . Harvard Mutual Building, Loan, and Savings . Bellflower Building and Loan Blooniington Building, Savings, and Loan. Bloomington Loan and Homestead .- Columbian Loan Equitablo Loan and Investment German National Building and Loan Illinois Building and Loan Interstate Building and Loan McLean County Building National Home Building and Loan People's National Building and Loan State Mutual Building aad Loan Cbenoa Building and Loan Citizens-' Homestead and Loan. McLean Building and Loan Mount Hope Loan and Homestead Citizens' Savings, Loan, and Building Saybrook Building and Loan Bluo Mound Savings, Loan, and Building . Loan and Homestead People's Savings and Loan Savings Fund Building Illini Building and Loan . „ , Bunker Hill Building, Loan,, and Homestead . Carlinville Loan and Building Gillespie Building Macoupin Homestead Loan _ Mutual Building, Loan, and Homestead Palmyra Loan, Building, and Savings.- Staunton Loan and Building „ Virden Homestead and LoanT ~ Alton Germania Building and Loan Bluff City "Workingmen's Building and Loan. Piasa Building and Loan Collins villo Building and Loan Home Building Clover Leaf Loan Edwardsville Building Home Building and Loan Citizens' Building and Loan Citizens' Building and Loan Upper Alton Building Date of organization. Sept. 1,1838 Sept. 20, 1886 Apr. 5, 1883 Mar. 4, 1884 Jan. G, 1890 May 3, 1887' Aug. 1,1882 Jan. 22,1889 Mar- Dec. Jan. June Feb. Aug. Feb. Apr. 6 June Jan. Apr. Sep. Apr. May Sept. Aug. Jan. Juno 3, 1888 6. 1881 1. 1882 24, 1892 3, 1890 4, 1892 11, 1889 1,1889 16. 1887 11, 1890 18, 1892 27, 1892 1, 188fl 9,1889 11. 1888 4. 1887 1. 1888 1. 1889 Apr. 24,1888 Apr. 12,1886 Oct. —,1881 Oct. 25,1881 Sept. 20, 1899 Mar. 26,1888 Aug. 1,1885 May 24,1883 Mar. 19,1887 Nov. 1,1891 July 1, 1888 June 16, 1886 Mar. 2, 1886 Doc. Mar. July Aug. Aug. July Feb. Sept. June Mar. Sept. 1, 1890 —,1885 6,1887 3, 1885 1, 1887 22, 1889 23, 1884 16, 1892 17, 1886 20, 1888 28, 1886 a Not reported* CHAPTER I. GENERAL TABLES. 71 Tabus I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. XI^INOIS-Continueu. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estato loans. Mar- gin- al □ um- ber. Male. Female. Total. Loeal Local Local - Local Local Local Local Local Local National National National National National Local National National National Local Local- Local Local Local Local Local Local Local Local Local Local Local Local Local. Local Local Eocal Local Local Local Local 62 17 484 200 64 312 402 60 44 476 (a) (a) (a) 688 (a) 1,638 188 (a) 1,937 116 81 165 30 31 65 W (a) 26 609 (a) (a) 57 (a) (a) 115 50 135 142 32 221 (a) (a) 455 126 •134 (a) (a) 83 102 57 16 3 210 50 12 163 146 17 1 224 (a) (a) (a) 123 (a) 540 63 (a) 968 37 38 41 8 7 61 (a) (a) 6 328 (a) (a) 26 W (a) 30 6 25 46 118 53 (a) (a) 159 22 35 («) (a) 12 56 18 78 20 «94 250 76 475 548 77 45 700 890 424 3,897 811 4,700 2,178 251 6,116 2,905 153 119 206 38 38 140 78 182 32 937 353 51 83 337 12 145 62 160 188 ISO 274 250 956 C14 148 ie» 73 (a) 95 158 75 28 12 397 107 24 143 243 12 24 270 326 7 645 23 692 673 101 856 155 4 51 146 13 19 51 29 43 22 383 141 14 24 131 6 43 5 62 74 67 40 84 150 245 32 60 60 5 33 52 53 793 101 5,632 2,343 402 a, -600 3,167 762 215 7, 089J 9,298 4,054 39,094 7,692 46,689 40, 125 3,507 50, 791 20, 390 808 1,020 2,000 218 237 1,205 583 917-i 290 12, 326 5,379 280 095 2,678 20 971 256 805 1,852 1,266 2,540 2,123 7,984 5,000 1,254 1,365 439 805 356 1,578 739 (a) <«) 370 (a) 24 (a) 243 (a) (a) 200 388 (a) 498 1 (aj 80 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. Locality. INDIANA- Continced. DAVIESS COUNTY. Elnora Montgomery Odou ' Raglesville Washington Washington DEARBORN COUNTY. Aurora Aurora Cochran Lawrenceburg Lawrenceburg Lawrenceburg Moores Hill DECATUR COUNTY. Greensburg Greensburg Saint Paul DELAWARE COUNTY. Muncie Muncie Muncie Muncie DUBOIS COUNTY. Ferdinand Huntiugburg Jasper ELKHART COUNTY. Elkhart Elkhart Elkhart Elkhart Goshen Nappance FAYETTE COUNTY. Conners ville Connors ville FLOYD COUNTY. New Albany New Albany New Albany ...... New Albany New Albany New Albany FOUNTAIN COUNTY. Attica Covington Hillsboro Mellott - - - -": Newtown Veedersburg FRANKLIN COUNTY. ■Brookville Brookville Laurel Oldenburg Name of association. Elnora Savings and Loan Montgomery and Fanners' Building and Loan, series Odon Building and Loan Baglesville Savings and Loan Daviess Building and Loan - - Industrial Savings and Loan Merchants and Manufacturers' Loan and Building Union Building, Loan Fund, and Savings People's Building and Loan Company Dearborn County Loan and Building German Lawrenceburg Building, No. 4 * Lawrenceburg BuildiDg Society, No. 3 Moores Hill Building and Loan Grecnsburg Building Workingmen's Building and Loan . Saint Paul Building Delaware County Building. Savings, and Loan. Muncie Building, Loan, and Savings, No. 1 Muncie Savings and Loan Mutual Home and Savings Ferdinand Building, Loan, and Savings . Progress Building, Loan, and Savings - - Phenii Loan Equitable Building, Loan, and Savings . Excelsior Building, Loan, and Savings . Union Building Workmen's Building and Loan Elkhart County Loan and Savings Citizens' Building, Loan, and Savings . . Fayette Savings and Loan . . German Building and Loan. East End Building and Savings . . Homo Loan Howard Park Building Mechanics' Building and Savings. People's Building and Loan Workingmen's Building Attica Building and Loan Covington Building and Loan Hillsboro Building and Loan People's Building and Loan Newtown Building and Loan Veedersburg Building, Savings, and Loan. Brookville Building, Loan, and Savings . Citizens' Building, Loan, and Savings. .. Laurel Building, Loan, and Savings Franklin Building and Loan Date of ganization. Feb. 2, 1889 June 15, i889 Feb. 5,1887 Feb. 4, 1891 May 1, 1887 Jan. 21,1884 Jan. Oct. Oct. Jan. May 7. 1890 1, 1885 1,1887 6. 1891 3,1888 May 23,1887 Feb. 2, 1890 Apr. 1, 1891 Apr. 1,1883 Feb. 13,1886 May 10,1888 Mar. 1,1887 Apr. 5,1889 Aug. 29, 1889 Mar. 3,1888 Sept. 25, 1890 Mar. 24,1890 Sept. 20, 1890 Fefc 4, 1890 Oct. 1, 1887 June — , 1885 Jan. 25,1882 June 1,1886 May 3, 1887 Apr. 11, 1892 Sept. 15,1891 Dec. 17,1886 Apr. 2,1887 Feb. 11,1890 Jan. 5, 1889 Mar. 17,1890 Mar. 1,1883 Nov. 6, 1886 Feb. 3, 1890 July 2, 1888 Nov. 26, 1890 Feb. 1, 1888 Aug. 15, 1887 Jan. 5, 1891 Jan. 6, 1890 Apr. 12,1888 a Not reported. CHAPTER I. GENERAL TABLES. 81 Table I — NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. « N DIANA -Continued. Local or national. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Permanent, termi- nating, or serial. Serial Terminating . Serial Serial Serial Serial Terminating . Serial Permanent . - . Permanent ... Terminating . Terminating . Permanent . . . Terminating . Serial Serial Serial Terminating . Permanent . . . Permanent . . . Serial Terminating Serial Permanent . . . Terminating . Serial Serial Serial Serial Serial . Serial . Serial Serial Permanent . Permanent . Permanent - Permanent . Permanent - - . Serial Serial Serial Terminating . Serial Terminating . Serial Permanent . . . Permanent . . . Shareholders. Male. Female. Total (a) (a) (a) 175 175 201 330 127 127 55 97 404 85 825 30 910 133 (a) (a) 30 147 73 (a) (a) 123 403 70 267 630 211 (a) 221 144 78 38 88 (a) 112 163 (a) (a) (a) 48 135 12 174 166 20 (a) (a) (a) 16 145 17 67 414 105 (a) 20 (a) 51 20 48 17 165 206 225 296 375 155 186 70 145 539 97 999 36 1,076 153 75 387 450 30 221 32 218 101 507 119 139 548 93 334 ,044 316 348 275 154 96 41 107 81 149 142 182 Borrow- ers. 23 13 8 5 71 264 78 60 170 35 155 186 30 48 180 53 749 23 380 55 217 11 42 275 88 102 275 200 178 200 33 24 12 Shares in force. 6 Including share issued for paid-up stock. 220 77 191 35 1,051 4,570 875 765 987.1; 853 236 740 961 375 3,646 80 4,171 507 374 500 1,956 b 4, 526 " 263 1, 223 369 510 385 609 2,689 613 2, 209J 3,863 4,451 2, 899J 1,829 365 194 133 518 250 476 290 164 Real estate loans. (a) (a) (a) (a) (a) W (a) (a) (a) (a) (a) («) (a) (a) W (a) (a) («) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (aj (a) «t) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) H. Ex. 209- 82 REPORT OF THE COMMISSIONER OP LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IWBJBAIV A— Continued. Locality. Name of association. Date of organization. FULTON COUNTY. Rochester GIBSON COUNTY. Fort Branch Francisco Haubstadt Oakland City Oakland City Owensville Patoka Princeton Princeton GRANT COUNTY. Fairmount Marion Marion Marion Marion GREENE COUNTY. Bloomfield Bloornfield Linton Owensburg '. "Worthington HAMILTON COUNTY. Noblesville Noblesville Noblesville Noblesville Sheridan - Sheridan HANCOCK COUNTY. Greenfield Greenfield HARRISON COUNTY. Corydon HENDRICKS COUNTY. Danville Danville HENRY COUNTY. New Castle HOWARD COUNTY. Kokomo Kokomo HUNTINGTON COUNTY. Huntington... Huntington.-.. HuDtington Huntington Rochester Loan and Building, No. 2 Fort Branch Building and Loan, No. 2. Francisco Building, Loan Fund, and Savings Haubstadt Building and Loan Oakland City Building, Loan Fund, and Savings People's Loan Fund and Savings Mutual Building, Loan, and Savings Mechanics' Building, Loan, and Savings Home BuildiDg, Loan Fund, and Savings Princeton Building, Loan Fund, and Savings Fairmount Building and Loan Gas City Building ana Loan Homestead Building and Loan Marion Homo and Savings Safety Fund Building and Loan Bloomfield Building, Savings, and Loan Farmers and Mechanics' Mutual Building, Loan, and Savings. Linton Building, Loan , and Savings Owensburg Building, Savings, and Loan Greene County Building, Savings, and Loan Hamilton County Building and Loan Home Building and Loan. Noblesville Building, Loan Fund, and Savings Provident Building and Loan Fund. Citizens' Savings and Investment Company Sheridan. Building and Loan Greenfield Building and Loan Home Building and Loan Corydon Savings and Loan Citizens' Building, Loan Fund, and Savings Farmers' Loan and. Trust Company Henry County Building and Loan Homo Building and Loan Kokomo Loan and Savings Equitable Building and Loan Farmers' National Loan and Savings Huntington County Building, Loan, and Savings*".!! Huntington County Loan and Savings a Not reported. Apr. 15,1889- May 6, 1890 Feb. 9, 1889 Mar. 1, 1889 June 14, 1888 Mar. 16, 1891 Dec. 15,1889 Mar. 7, 1891 Jan. 1,1889 Nov. 1, 18S7 May 25,1889 Dec. 1, 1887 Dec. 17, 1888 Aug. 19, 1891 Jan. 1, 1891 Oct. Apr. 9, 1885 1, 1892 Jan. 25,1887 June 5, 188S Oct. 18,1889 Dec. 29,1886 Dec. 22,1890 Mar. —,1884 Apr. 13,1888 Jan. 29,1890 Apr. —,1886 July 25,1883 Oct. 18, 1889 Jan. 13,1891 May 7, 1883 Feb. 14^1890 Mar. 31,18'JO Oct. 33,1889 Mar. 4, 1885 Dec. 9, 1891 Nov. 10,1890 Sept. 3, 1887 Jan. 6, 1890 CHAPTER I. GENERAL TABLES. 83 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. I«t»IA.BTA— Oo-mtioaed. Local or national. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Locai Local Local Local Local Local Local Permanent, termi- nating, or serial. Terminating .. Terminating .. Terminating .. Terminating .. Serial Terminating ~ Serial Terminating .. Serial Terminating -. Terminating Terminating Serial Permanent Terminating Serial Serial Serial 'Serial Serial Seiial Serial Serial Serial Permanent Serial Permanent Permanent Perm an on t Permanent Permanent Permanent Permanont Permanent Permanent. Permanent Tcrminatiu Permanent Shareholders. Male. (a) (a) 62 70 12 152 71 21 (a) 133 94 (a) 152 21 70 116 240 115 39 79 78 (a) 205 357 1,075 255 89 :i2 69 Female. Total (a) (a) 20 (a) (a) (a) 163 483 (a) 65 44 64 157 92 91 27 244 101 100 27 (a) 197 120 160 75 101 31 112 143 324 155 68 93 82 326 111 520 1,558 301 134 37 100 Borrow- ers. (a) 36 31 45 66 44 3(1 8 118 65 (a) 62 172 36 30 28 60 148 35 195 434 Shares in force. 347 226 395 065 439 267 127 900 397 546 112fc 067" 710 924 587 994 132 644 917 1,963 1,000 725 324 (a) 843 363 328 44 3,101 4,161 8CG 808 184 555 Real estate loans. (a) (a-) 2". (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 17 35 (a) (a) (a) (a) (a) (a) (ft) (a) (a) (a) («) (a) (a) (a) <«> (a) (a) («> 84 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. INDIANA— Continued. Locality. JACKSON COUNTY. Brownstown . Brownstown . Medora Seymour Seymour Seymour Seymour Seymour JASPER COUNT Y. Remington . Rensselaer . JAY COUNTY. Portland - Redkey . . JEFFERSON COUNTY. Hanover . Madison . Madison . Madison . Madison . JENNINGS COUNTY. North "Vernon . North Vernon . North Vernon . Vernon JOHNSON COUNTY. Edinburg... Edinburg . . . Franklin ... Greenwood . Wbiieland . KNOX COUNTY. Monroe City. Vincennes ... Vineeunes . . . Vincennes . . . Vincennes ... KOSCIUSKO COUNTY. Mentone. Men tone. Mil ford . . Milford.. Warsaw . LAKE COUNTY, Hammond LAPORTE COUNTY. Michigan City LAWRENCE COUNTY. Name of association. Brownstown Building Live Men's Building, Loan Fund, and Savings . Medora Building, Loan Fund, and Savings Cooperative Building and Loan Germania Building, Loan Fund, and Savings... Merchants and Laborers' Building Star Building, Loan Fund, and Savings, No. 2.. Union Building, No. 2 «-■ Remington Building and Loan Rensselaer Building, Loan, and Savings. Portland Building and Loan , No . 1 . Redkey Building and Loan, No. 1 . . Hanover Building and Aid, No. 1 . German Building and Aid, No. 6. . Home Building, No. 5 Madison Building and Aid, No. 8 . Mite Building and Loan, No. 1 — Center Building and Loan, No. 5 Citizens' Building and Loan, No. 7 North Vernon Building and Loan, No. 6. Citizens' Building and Loan, No. 2 Citizens' Building, Loan Fund, and Savings. . Edinburg Building, Loan Fund, and Savings . Mutual Building and Loan Greenwood Building and Loan Whiteland Building and Loan Knox County and Monroe City Building and Loan. . . Farmers' Building and Loan . .' , Knox Building ; People's Savings, Loan, and Building Vincennes and Knox County Building, Loan Fund and Savings. Date of organization. Mentone Building, Loan, and Savings, No. 1. Mentone Building, Loan, and Savings, No. 2. Milford Building and Loan, No. 1 Milford Building and Loan, No. 2 People's Loan and Savings Hammond Building, Loan, and Savings. Michigan City Loan and Building . 39 Bedford Bedford Building, Savings, and Loan . 40 Mitchell Mitchell Building, Savings, and Loan . a Not reported. Mar. 3, 1890 Oct. 4, 1887 Feb. 6, 1888 Jan. 2, 1892 Aug. 21,1889 June 24, 1890 Aug. 30,1887 Aug. 12, 1887 Feb. 18, 1888 Mar. 4, 1888 Jan. 7, 1889 Feb. 3, 1890 Mar. 1, 1876 Apr. 28,1885 Sept. 2,1873 Mar. 8, 1875 Sept. 7,1881 May 22,1888 June 6, 1892 June 15,1889 May 6, 1889 July 21,1888 Oct. 3, 1885 Mar. 15,1890 Jan. -26, 1889 Apr. 2,1890 Jan. 1, 1891 Feb. 10,1887 Sept. 25, 1883 June 5,1889 Dec. 30,-1890 May 1, 1888 Feb. 1, 1892 Mar. 4,1889 Aug. 3,1891 Dec. 18,1889 Apr. 1, 1888 Sept. 16, 1885 Feb. 27,1578 Feb. 1,1881 CHAPTER I. — GENERAL TABLES. 85 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. IIVWI ANA -Continued. Local or national. Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local - Local . Local - Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local. Local . Local . Local . Local. Local . Local . Local - Local . Local . Local . Local . Permanent, termi- nating, or serial. Terminating . Terminating . Terminating . Serial Terminating . Terminating . Terminating . Terminating . Terminating . Serial Serial . Serial . Local . Local . Serial . Serial . Serial . Serial . Serial . Terminating . Serial Terminating . Terminating . Terminating . Terminating . Permanent - - . Serial Serial Serial Serial Serial Permanent . Serial Terminating . Terminating . Terminating . Terminating . Permanent . . . Serial . Serial . Shareholders. Male. 57 47 111 87 82 47 35 47 286 135 43 80 234 342 384 245 , 1890 Bluff Road Savings and Loan Mar. 9, 1889 Celtic Savings and Loan. No. 3 July 31,1884 Centennial Savings and Loan June 4, 1889 Center Building and Loan May 4, 1884 Citizens' Savings and Loan, No. 2 Apr. 7,1890 City Savings and Loan Sept. 30, 1892 Clifford Avenue Savings and Loan Jan. 21,1889 College Avenue Savings and Loan Feb. 28, 1885 Columbia Savings and Loan Dec. 20,1891 Commercial Savings and Loan Sept. 2, 1889 Cooperative Savings and Loan Feu. 1,1892 Cottage Building and Loan Aug. 19, 1889 Court Mouse Building and Loan t .. Jan. 12,1892 Dania Building and Loan Oct. 23,1888 Diamond Savings and Loan - June 6, 1888 Downey Street Savings and Loan, No. 1 Sept. 3,1892 Eastern Savings and Loan Jan. 5,1889 East "Washington Street Building and Loan May 3, 1885 Economy Savings and Loan Aug. 1,1S87 English Avenue Savings and Loan, No. 2 Feb. 1, 1891 Equitable Building and Loan Mar. 2, 1891 Equitaible Savings and Loam Feb. 28, 1&88 Eureka Savings and Loan Aug. 27i 1888 Farm and Lot Savings and Loan Jan. 8, 1892 Fidelity Building and Savings Union, No. 1 Feb. 1,1890 Fidelity Building and Savings Union, No. 2 Apr. 3,1891 Fidelity Building and Savings Union, No. 3 Sept. 2,1891 Fidelity Building and Savings Union, No. 4 Jan. 2,1892 Fidelity Building and Savings Union, No. 5 May 1. 1892 Fidelity Savings and Loan ~ May 4,1892 Fletcher Avenue Savings and Loan . . . t _ ._ Aug. 30, 1890 Fourteenth Street Savings and Loan Mar. 7, 1891 Franklin Building and Loan June 10, 1884 Fraternal Building and Loan Nov. 1, 1891 Gambrinus Savings and Loan, No. 2 May 1, 18S9 Garfield Park Building and Loan , June 4,1891 German-American Building, No. 1 Sept. 1,1890 German -American Building, No. 2 Mar. 1,1892 German- American Perpetual Savings and Loan Oct. 13, 188S Globe Building, Loan, and Savings Jan. 27,1892 Government Savings, Loan, and Deposit Company... Dec. 11,1891 Guarantee Savings and Investment Dec. 29, 1890 Hartford Savings and Investment Company Aug. 13,1890 Home Building, Savings, and Loan May 25, 1891 Homestead Building and Loan Feb. 8, 1890 Hoosier Building, Loan, and Investment May 24, 188D Hoosier Savings and Loan July 7, 1884 Ideal Savings and Loan May 1,1890 Illinois and Seventh Streets Savings and Loan Mai- 7 1885 Independent Turners' Savings and Loan, No. 2 Apr. 20, 1891 Indiana Central Savings and Loan Apr. 15 1891 Indiana Mutual Building and Loan, No. 1 May 1 1890 Indiana Mutual Building and Loan, No. 2 Sept. l'l890 Indiana Mutual Building and Loan, No. 3 Mar. l'l891 Indiana Mutual Building and Loan, No. 4 1 May 1,1892 a Not reported. CHAPTER I. — GENERAL TABLES. 87 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS-Cont'd. INDIANA -Continued. Local or national. Permanent, termi- nating, or sorial. Shareholders. Male. Female. Total. Borrow- ers. Shares in force. Eeal estate loans. 561 (a) 8,529 (a) 351 (a) 407 (a) 429 (a) 188 (a) 184 (a) 1,160 (a) 2,627 (a) 634 (a) 773 (a) 1,412 (a) 232 (a) 9,935 (a) 62 (a) 606 (a) 2,741 (a) 342 (a) 881 (a) .397 (a) 273 (a) 151 (a) 1,646 (a) 557 17 539 (a) 299 (a) 509 (a) 362 (a) 758 (a) 165 (a) 072 (a) 694 (a) 004 (a) 191 (a) 510 (a) 1, 413i (a) 2, SOSi (a) 1,822 (a) 251 (a) 8,706 (a) 6,387 (a) 7,545 (a) 9,757 (a) 9, 322 (a) 82 (a) 2,038 (at 496 (a) 210 (a) 8,715 (a) 317 (a) 187 .(a) 6,654 (a) 7,465 220 210 (a) 372 (a) 860 (a) 688 (a) 1,813 (a) 464 41 299 (a) 21 (a) 498 (a) 495 (a) 195 (a) 423 (a) 506 19 8,740 (a) 8,214 (a) 0.849 (a) 5,341 la) Local Local Local Looal Local Local...... Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local National... National. . . National... National. . . National... Local Local '. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local National... National... National. - - National... Permanont . - . Permanent . . . Permanent... Permanent... Permanent . . . Permanent.., Permanent . . . Serial Permanent . . . Permanent... Permanont . . '. Permanent . . . Serial Permanent . . . Serial Serial Permanent.. Terminating . Serial Terminating Terminating Serial Serial Permanent.. Terminating Permanent . . Permanent .. Permanent . Permanent . Terminating Terminating Serial Serial Serial Terminating Permanent . Permanent . Serial Serial Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent Permanent . . Permanent .. Permanent . Terminating. Permanent . Permanent . Permanent .. Serial Permanent . . Permanent . . Permanent . . Permanent .. Serial Terminating. Permanent . . Permanent .. Serial Serial Terminating. Permanent . . Permanent .. Permanent . . Permanent .. Permanent . . 84 687 34 54 96 57 (a) 202 508 128 75 163 83 1,421 15 198 189 79 110 105 (a) 42 345 04 (a) 83 74 45 97 44 108 133 142 70 100 188 578 540 25 1,393 1,109 1,265 1,649 1,498 (a) 373 51 34 1, 825 70 36 1,023 1,147 51 (a) 196 89 123 100 42 21 (a) 77 (a) 72 64 840 917 837 418 39 473 2 2 36 (a) 104 286 32 32 35 25 157 5 53 467 7 111 10 (a) (a) 17 36 6 41 42 54 18 3 90 255 30 9 348 201 240 496 394 (a) 296 14 12 50 14 10 255 286 13 (a) 55 102 89 40 4 (a) 24 W 18 19 285 288 208 92 123 1,100 56 132 63 74 306 794 160 107 198 108 1, 578 20 251 050 80 221 115 69 51 300 92 118 93 106 62 133 50 209 175 190 88 109 278 833 570 34 1,741 1,310 1,505 2,145 1,892 42 009 05 46 1,875 84 46 1,278 1.433 64 105 251 191 212 200 40 21 170 101 02 " 81 1,125 1.205 1,045 510 45 543 21 26 155 280 66 38 04 62 177 17 37 218 40 101 53 1 13 136 17 34 2 20 12 28 31 24 40 83 34 25 55 237 149 8 265 240 290 384 330 1 123 4 21 175 29 18 322 318 12 27 11 27 0,3 59 48 26 41 17 390 389 358 171 88 REPORT OP THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IIVJUI ANA -Continued. Locality. MARION COUNTY— COUC'd. Indianapolis. - Indianapolis. - India^apolis-- Indianapolis. . Indianapolis.. Indianapolis.. Indianapolis. - Indianapolis- - Indianapolis.. Indianapolis.. Indianapolis. - Indianapolis. - Indianapolis.. Indianapolis.. Indianapolis. - Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis -- Indianapolis.. Indianapolis-. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis . . Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis.. Indianapolis. Indianapolis. Indianapolis. Indianapolis . Indianapolis. Indianapolis. MARTIN COUNTY. Loogootee . Loogootee . Shoals Shoals Name of association. Indiana Savings and Investment Company Indiana Savings and Loan Indianapolis Building and Loan Indianapolis Savings and Investment Company Indianola Building and Loan Industrial Building and Loan Interstate Building, Loan, and Savings Eeystone Building and Loan Knights of Labor Savings and Loan, No. 4 Laborers' Savings and Loan, No. 2 Laborers' Savings and Loan, No. 3 Lombard Building and Loan Madison Avenue Savings and Loan, No. 3 Madison Avenue Savings and Loan, No. 4 Madison Road Savings and Loan Marion County Savings and Loan Marion Trust and Loan .' Merrill Savings and Loan Monument Savings and Loan Morris Street Savings and Loan Mutual Home and Savings National Building, Loan, and Savings, No. 1 «.. National Building, Loan,-and Savings, No. 2 National Savings and Loan New Jersey Street Building and Loan New Massachusetts Avenue Savings and Loan New Merrill Savings and Loan New People's Savings New Shelby Street Building and Loan New Year Savings and Loan Noble Street Savings and Loan Northeast Savings and Loan North New Jersey Street Savings and Loan North Side Savings and Loan Occidental Savings and Loan Pan Handle Building, Savings, and Loan Parnell Building and Loan People's Savings and Loan, No. 4 Phoenix Savings and Loan Plymouth Savings and Loan Progress Savings and Loan Prospect Savings and Loan. Provident Savings, Loan, and Investment Prudential Depository, Savings, and Loan Railroad Men's Building and Savings Royal Savin gs and Loan Rural Savings and Loan Saint Clair Savings and Loan, No. 2 Southeastern Savings and Loan South Meriden Savings and Loan, No. 2 Standard Savings and Loan Star Savings and Loan Sun Savings and Investment Company Teutonia Savings and Loan, No. 4 Thorpe Block Savings and Loan Turner Building and Savings, No. 2 Union Depot Savings and Loan, No. I Union Depot Savings and Loan, No. 2 Union Mutual Building and Loan Union National Savings and Loan Union Savings and Loan, No. 2 United States Savings, Fund, and Investment Com- pany. Virginia Avenue Building and Loan Western Savings and Loan "West Market Exchange, Building, and Loan "World Building Loan and Investment Company Loogootee Building and Loan, No. 1 . Loogootee Building and Loan, No. 2 . Shoals Savings and Loan, No. 2 Shoals Savings and Loan, No. 3 a Not reported. Date of organization. May Sept. Feb. Feb. 20, 1889 Aug. G, 1889 Mar. 17,1882 Mar. 15,1890 (a) Jan. 7,1890 Jan. 30,1893 Jan. 5,1892 June 12, 1891 Feb. 16,1891 Apr. 14,1892 Nov. 18,1892 June 29, 1888 Mar. 7, 1892 Jan. 6, 1891 July 1, 1890 Mar. 14,1888 May 7, 1890 July 13, 1801 Nov. 18, 1887 Mar. 19, 1886 Aug. 23, 1889 Mar. 4,1891 May 20, 1885 June 5,1890 Dec. 4, 1890 Oct. 6, 1892 Mar. 20,1850 Aug. 2,1892 Jan. 1, 1888 Feb. 9, 1889 Mar. 12, 1888 Dec. 15,1888 1, 1884 6, 1886 9, 1892 May 21,1889 Jan. 28,1890 May 4,1891 Nov. 30,1886 Feb. 8, 1887 Juno 9,1885 Jan. 21,1890 May 8, 1889 Aug. 11, 1887 Mar. 16, 1892 Jan. 3, 1891 June 20, 1889 Apr. 2,1889 Nov. 16, 1887 June 14, 1887 July 21, 1884 Apr. ll.lBGO Oct, 4, 1887 Oct. 32,1889 Oct. 9, 1889 Apr. 8, 1890 Nov. 17,1887 Sept. 18, 18S0 Feb. 5, 1891 July 5,1888 July 30,1801 Dec. 31.1892 Doc. 17, 1884 May 3, 1888 Aug. 1,1892 Dec. 13.1886 Nov. 5, 1889 Nov. 25. 1887 Mar. 28, 1890 CHAPTER I. GENERAL TABLES. 89 Tablk, I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. INDIAN" A— Continued. Local or national. Local Local Local Local Local Local Local Local LocaL Local Local Local Local Local Local Local Local Local Local Local Local Local Local.... Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local National National. Local Local Local Local Local National. Local . Local . Local . Local . Perm an cut, termi- nating, or serial. Permanent Terminating Permanent Serial Serial Terminating Permanent Permanent Terminating Terminating Terminating Permanent Terminating Terminating Terminating Terminating Serial Terminating Permanent Terminating Permanent Permanent Permanent Serial Serial Serial Terminating ... Permanent Permanent Permanent Serial Serial Terminating . . . Permanent Serial Permanent Serial Terminating Serial Permanent Serial Serial Permanent Permanent Permanent Permanent Permanent Terminating . . . Permanent Terminating ... Serial Serial Permanent Serial Permanent Serial Terminating ... Serial Permanent Permanent Terminating... Permanent Permanent . Serial Permanent . Permanent . Shareholders. Male. Terminating . Terminating . Terminating . Terminating . Female. Total 433 373 > 79 •a, 78 48 396 213 168 30 87 21 (a) la) 61 10 46 11 110 13 49 10 (a) (a) 102 39 102 29 43 7 (a) (a) 52 15 69 19 18 5 50 10 502 488 1,216 304 934 253 118 20 51 25 I a) (a) 71 29 30 03 50 10 178 74 (a) («) 174 20 (a) (a) (a) (a) (a) (a) 103 17 37 20 (a) (a) 85 17 501 137 108 133 184 61 156 24 165 162 1,004 251 129 42 73 33 (a) (a) 187 40 82 45 (a) (a) 348 117 89 46 190 42 105 6 100 31 131 4 30 14 425 365 (al (a) 75 11 603 201 75 213 (a) (a) 20 806 107 120 609 198 111 205 71 07 123 59 55 141 131 50 94 07 88 23 66 1,050 1,580 1,187 138 76 191 10.1 93 00 252 202 194 85 245 230 120 03 7S 102 038 241 245 180 327 1,255 171 106 92 227 127 209 465 135 232 171 131 135 50 790 3,234 80 804 105 219 81 •.'37 Borrow- ers, 145 32 39 105 05 52 40 24 8 37 4 5 05 22 29 21 23 15 7 39 348 430 213 03 15 34 10 20 20 01 99 112 23 100 50 14 27 26 38 170 40 70 170 85 385 43 32 23 09 91 58 200 45 105 98 61 37 38 346 411 59 149 68 35 Shares in force. 3,710 450 382 2,127 652 405 1,290 073 184 400 201 424 527 383 177 42:: 284 342 57 265 4, 203 9,646 6,757 577 217 815 437 20:: 217 012 890 078 441 1,094 810 8*9 283 429 456 2. 599 725 431 560 1.265 7,887 516 068 359 038 464 792 2,409 878 880 1,884 613 410 220 4, 643 15,618 324 3,784 587 850 271 235 220 239 205 364 Real estaTo loans. (al (a) (a) (a I (01 W (a) (a) (a) (a.) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 10) («1 (a) (O) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) («) (a I (a) (a) (a) ia) (a) (a) (a) (a) (a) (K) (a) (a) (a) (a) (a) (a) (al (oj (a) (a) 2( (a) (a) (a) (a) (a) (0 1 10) (a) (a) (a) (ol I (o) 90 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IIVOSAIVA-Continued. Locality. Karao of association. Date of organization. MIAMI COUNTY. Peru Peru MONROE COUNTY. Bloomington Bloomington Harrodsburg MONTGOMERY COUNTY Crawford svillo Crawford svillo Crawfordsville Darlington Ladoga Waveland TVaveland "Wingate MORGAN COUNTY. Martinsville NOBLE COUNTY. Kendallville Kendall villo Ligonicr Ligonier OHIO COUNTY. Rising Sun ORANGE COUNTY. Orleans PARKE COUNTY. Bloomingdalo Bloomingdale Rockvillo Rockvillo Rbscdalo PERRY COUNTY. Tell City TIKE COUNTY. Petersburg Petersburg Win slow Winslow PORTER COUNTY. Valparaiso POSEY COUNTY. Mount Vernon PUTNAM COUNTY. Cloverdale Greoncastlc Greencastle Koachdalo Kussellvillo Miami County Loan and Savings . Peru Building and Loan Real Estate Building and Loan Fund Workingmen's Building, Loan Fund, and Savings - Harrodsburg Building, Loan, and Savings Crawfordsville Building, Loan Fund, and Savings . Home Building Montgomery Savings Darlington "Building, Loan Fund, and Savings Ladoga Building, Loan Fund, and Savings "Waveland Building, Loan Fund, and Savings Waveland Mutual Building and Loan Home Building and Loan Hume Buildinc Kendall villo Building, Loan, and Savings. Mechanics' Building, Loan, and Savings... Citizens' Building, Loan, and Savings. r ... Homo Building, Loan, and Savings losing Sun Building, Loan Fund, and Savings Orleans Building, Savings, and Loan _ Bloomingdalo Building, Loan Fund, and Savings Citizens' Building, Loan Fund, and Savings Parke Building, Loan Fund, and Savings Rockvillo Building, Loan Fund, and Savings Kosedalo Building, Loan Fund, and Savings Tell City Building, Loan Fund, and Savings People's Building and Loan Petersburg Building and Loan Fund Patoka Building and Loan Win slow Building, Loan Fund, and Savings Valparaiso Building, Loan Fund, and Savings Germania Loan and Savings Clovcrdalo Building, Loan Fund, and Savings Farmers' and Citizens' Building, Loau Fund, and Savings. Home Building, Loan, and Savings Roacbdalo Building and Loan Russell ville Building and Loan a Not reported. Jan. 15,1391 Jan. 28,1886 Apr. 24,1888 Apr. 17,1885 May 1, 1888 May 29,1882 July 12,1888 July 18,1888 Dec. 19,1883 May 5, 1884 Apr. 4, 1884 Nov. 28,1891 Jan. 14,1892 Feb. 21,1890 Juno 9, 1S85 Nov. 8,1890 Dec. 25,1884 Apr. 25,1891 Mar. 24,1837 Oct. 24,1884 May 12,1888 Feb. 10,1801 Nov. 3, 1S01 Mar. 17, 1884 Jan. 24,1888 Aug. 12,1885 June 0,3889 Fob. 3,1892 Feb. 24,1831 Feb. 15.18SS Nov. 27,1887 Feb. 17,1887 Oct. 7, 1889 Apr. 10,1884 July 1,1891 Apr. 3, 1885 Feb. 6, 1889 CHAPTER I, — GENERAL TABLES. 91 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. I1VI5IAIVA- Continued. Local or national. Local - Local . Local . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local. Local. Local . Local . Permanent, termi- nating, or serial. Permanent. Serial Permanent . Permanent - Permanent . Serial . Serial - Serial . Serial . Serial . Serial . Serial . Serial . Permanent Terminating . Terminating . Terminating . Terminating . Serial Serial . . Terminating . Serial Permanent ... Serial Terminating , Serial . Terminating . Terminating . Terminating . Terminating . Serial Serial . Permanent . Permanent . Permanent. ■Serial ...- Terminating . Shareholders. Male. 374 125 (a) 109 183 97 67 121 49 101 61 72 110 15 93 (a) (a) (a) 43 353 221 58 55 Female. Total 300 67 138 (a) 24 96 25 135 85 100 17 110 (a) (a) (a) 674 192 451 573 10 106 266 159 90 152 64 143 83 330 2 45 41 494 95 316 5 63 6 01 Borrow era. 170 37 40 122 53 29 58 42 54 10 24 77 13 187 103 15 10 Shares in force. 2,421 942 3.737 3,812 22 503 0S7 548 2434 759i 212 604 403 1,391 390 500 152 201 157 183 291 355 125 1,843 576 475 119 67 2,054* 181 2,330 1,714 196 179 Real estate loans. (a) (a) 198 296 (a) (a) W (a) (a) (as) (a) (a) (as) (o) (a) (a) (as) (a) (a) (as) (a) (a) (a) (a) (as) (a) (a) (a) (a) (as) (as) (a) (a) (a) (a) («> 92 REPORT OF THE COMMISSIONER OF LABOR. Tablk I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. 1 IV D I A N A — Cod tinned . Locality. RANDOLPH COUNTY. Union City Union City Winchester RIPLEY COUNTY. Batesvillo ,. Bates ville Milan Osgood Versailles RUSH cf0UNTY. Rash ville Rush, ville Rusliville Rush ville SAINT JOSEPH COUNTY. Mishawaka South Bend South Bond South. Bend SCOTT COUNTY. Scottsburg SHELBY COUNTY. Flat Rock Shelby villo Shelby ville Shelbyvillo Shelbyville Shelbyvillo Shelbyville Shelbyville Shelbyville Shelbyville SPENCER COUNTY. Dale Roekport SULLIVAN COUNTY. Carlisle Carlisle Dugger Suhivan TIPPECANOE COUNTY. Claries Hill La Fayetto La Fayette La Fayette La Fayetto La Fayette La Fayetto TIPTON COUNTY. Tipton Tipton UNION COUNTY. Liberty Is arao of association. Union City Building and Loan, No. 5 . Union City Building and Loan, No. . "W-inchester Home and Savings Citizens' Savings and Loan Permanent Building and Loan Milan Loan and Building Osgood Building and Loan Fund Versailles Building. Loan, and Saving Equitable Building, Loan Fund, and Savings. Prudential Building and Loan Rushville Building, No. 10 Rush ville Savings - Mishawaka Building and Loan Kosciuszko Building and Loan Saint Joseph County Loan and Savings . South Bend. Building and Loan Scottsburg Building and Loan. Flat Rock Building Central Building Citizens' Building Enterprise Builuing r.nd Loan . Home Loan Mechanics' Building Model Building and Loan Mutual Loan and Savings People's Building Shelbyvillo Loan Dale Building, Loan, and Savings . Home Building and Loan , Carlisle Building and Loan Ideal Building and Loan Bugger Building and Loan Sullivan Building, Savings, and Loan . Clarks Hill Building, Loan, and Savings . Citizens' Building and Loan Citizens' Building and Loan " B" Star City Building and Loan "Wabash Building and Loau "West La Fayette Building and Loau Young Men's Society for Savings , Date of organization. Sept. 1, I8S1 Apr. 1, 1890 Mar. 23,1-889 Feb. 25,1889 June 25, 1884 Jan. 5, 1888 May 19,1887 Feb. 17, 1888 June 11, 1892 July 5, 1S90 Mar. 9,1889 Apr. 2, 1891 June 1,1*89 Sept. .1,1884 Nov. 1, 1889 July 5, 1882 May 21, Jan. 4, 1S90 ( Int. 28, 1880 leb. 15, lSi-8 Jan. i, 1890 Jan. 3, 1891 June 6, 1885 Jan. 9, JS92 Den. 27, 1«91 Apr. 6, 1889 Mar. 1, 1890 Oct. 2, 1892 Sept. 1, 1890 Aug 1, 1887 Mar. 16, 1891 Apr. 9, 1888 Feb. 11,1889 Tel). 7, 1887 Jan. 1, 1887 Sept 13,1892 Nov. 1, 1890 Feb. 20, 1882 Dec. S0,'1892 Aug 26, 1892 Standard Building, Loan, and Savings May 29, 1891 Tipton Building and Loan Feb. 1, 1887 Liberty Building, Loan, and Savings. a Not reported. Dec. 10,1688 CHAPTER I. — GENERAL TABLES. 91 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. » I rVDIArV A— Continued. . Local or national. Permanent, termi- nating, or serial. Local : Serial Local I Serial Local Permanent . Local . Local . Local . Local . Local . Local . Local ^ Local . Local . Local . Local. Local . Local . Local . Local. Local . Local . Local . Local. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . National Local Serial Permanent . Serial Permanent . Permanent. Permanent . Permanent . Permanent . Terminating Serial Serial Permanent . Serial Permanent . Local Permanent Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Permanent ... Terminating , Terminating . Terminating . Terminating . Terminating . Serial Serial Serial Serial Serial Serial Serial Permanent. Permanent. Permanent . Serial . Serial . Shareholders. Male. Female. Total 55 37 91 56 155 65 110 20 211 305 5!) 9 33 8 47 19 (a) ! 64 235 46 (a) 615 442 258 20 (a) (a) 333 53 74 20 28 47 182 43 692 169 256 58 25 126 135 178 (a) 45 126 18 (a) 40 07 148 (a), (a)' 32 (a) 186 24 30 259 64 130 53 17 22 92 147 220 130 316 148 109 361 04 130 055 539 406 43 42 130 140 111 98 116 519 77 104 22 44 67 251 43 951 233 386 111 42 148 161 231 159 Borrow- ers. 45 185 45 13 31 29 53 122 30 169 178 148 20 10 40 45 28 34 25 118 25 31 15 8 39 138 15 291 32 109 42 16 15 Shares in force. 315 476 376 732 248 128 256 1,283 550 2,376 401 956 3,710 4.757 3,670 111 221 708 807 610 425 620 3,657 503 027 150 245 128 175 1,782 79J 5,013 971 3,492 1,780 624 471 946 835 Eeal estate loans. (a) 49 57 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) i,a) (a) W (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 139 (al (a) (al (a) (a) (a) (a) (al (al (a) 94 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. fllVJ&IANA— Continued. Locality. VANDERBURG COUNTY. Evansville Evansville , Evansville.- VERMILION" COUNTY. Cayuga Cayuga --- Clinton Clinton I>ana VIGO COUNTY. Terro Haute Xerre Hauto Terre Hauto Terre Haute Terre Haute Terre Haute Terre Haute Terre Haute - Terre Haute Terre Hauto Terre Haute Torre Haute Terre Haute Terre Haute Terro Haute Terro Haute Terro Haute Terre Haute ^ Terre Haute Terre Haute Terre Haute ■WABASH COUNTY. Wabash. Wabash WARREN COUNTY. "West Lebanon "William aport WARRICK COUNTY. Lynnvillo Newburg Newburg WASHINGTON COUNTY. Campbellsbnrg Salem WAYNE COUNTY. Richmond Richmond Richmond Richmond WELLS COUNTY. Biuffton Bluffton Bluffton Namo of association. Central Trust and Savinga Company Citizens' Building, Loan, and Savinga ■ Permanent Loan and Savings Cayuga Home Savings and Loan Citizens' Building and Loan Clinton Building and Loan Company, No. 2 Clinton Home, Loan, and Savings Vermilion County Savings, .Building, and Loan Cottage Building and Savings Indiana-Savings, Loan, and Building Investors' Loan Mechanics' Building, Loan, and Savings Prairie City Building, Loan Fund, and Savings, No. 8 Prairie City Building, Loan Fund, and Savings, No. 10 Prairie City Mutual Building and Loan, No. 1 RoseBuilding.LoauFund^nd Savings, No. 2, series 1 RoHoBuilding, Loan Fund, and Savings, No. 2, series 2" RoseBuilding, Loan Fund, and Savings, No. 2, series 3 Rose Building.LoanFund, and Savings, No. 2, series 4 RoseBuilding, Loan Fund.and Savings, No. 2, series 5 Rose Building, Loan Fund, and Savings, No. 3 Standard Building and Loan Terre Haute Building, Loan Fund, and Savings, No. 11, series 2. Terre Hauto Building, Loan Fund, and Savings, No. 17, series 2. Terre Hauto Home and Savings - — Terre Haute Mutual Savings Union Savings Vigo County Loan and Savings AY abash Savings, Loan, and Building Diamond Loan and Building - "Wabash Savings, Loan Fund, and Building "West Lebanon Building, Loan Fund, and Savings. . . "Warren County Building, Loan Fund, and Savings . Star Building, Loan, and Savings Newburg Building, Loan, and Savings , Newburg German Building, Loan, and Savings Campbellsbnrg Building, Savings, and Loan Fund Salem Building, Loan Fund, and Savings Continental Guarantee People's Home and Savings Quaker City Building, Loan Fund, and Savings.-. Richmond Loan and Savings Boora Building, Loan, and Savings Nonpareil Building, Loan, and Savings People's Mutual Loan and Savings , a Not reported. Date of organization. Apr. May- 1,1802 17, 1886 Mar. 13, 1885 ilar. 29, 1892 Keb. 28, 1888 Dec. 20, 1886 Feb. 3, 1801 Oct. 28, 1889 Aug. 5, 1889 June 20, 1889 Jan. 1, 1893 Nov. Id, 1890 Feb. 1, 1889 Dee. 23, 1890 Jan. 23, 1890 Oct. 10,1-887 Fob. 24, 1888 a) Feb. 1, 1891 June 26, 1891 Mar. 28, 1892 Sept 21, 1890 Deo. 28, 1888 June 2, 188S Deo. 5, 1888 May- 1. 1884 Apr. 20, 1889 Jan. 24, 1890 Oct. 8, 1889 Nov. 5, 1889 Feb. 17, 1887 Mar. 1, 1887 Dec. 13, 1886 June 5,1888 Mar. 12, 1-891 Sept 19, 1891 Mar. 1, 1888 Apr. 24, 1886 Feb. 27, 1892 July 27, 1889 Juno 26,1890 Sept 22, 1887 May 11, 1887 Sept 24, 1886 Oct. 1, 1890 CHAPTER I. GENERAL TABLES. 95 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. INDIANA— Continued. Local or national. National Local . . - Local . . . Local . . . Local . . . Local . - - Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . - Local... Local . . . Local... Local. .. Local . . . Local . . . Local . . . Local - - . Local . . . Local . . . Local . . . Local . . . Local . . . Local... Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Permanent, termi- nating, or serial. Permanent . Permanent. Permanent . Permanent . Serial Serial Permanent . Permanent . Permanent . . . Permanent — Permanent . . . Permanent . . . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Serial Permanent. . . Terminating . Terminating . Permanent . - . Serial Permanent . .. Permanont . . . Permanent . . . Terminating Serial Serial . Serial . Serial . Serial . Serial . Serial . Serial . Permanent . Permanent . Permanent. Permanent . Terminating . Terminating . Serial Shareholders. Male. 493 48 300 40 -60 236 131 129 253 403 (a) 32S 05 85 75 75 275 107 235 54 450 00 789 130 (a) 41 135 84 (o) 345 09 43 27 120 Female. Total 125 18 50 01 423 «t) 152 28 29 33 37 50 33 25 67 26 (13 2S 158 195 30 101 70 18 CO (a) 169 24 (a) 613 60 35« 59 71 320 187 170 322 820 28 480 93 10-1 132 136 135 108 100 342 133 300 80 527 645 120 101 421 78 102 48 150 94, 93 185 31 514 93 929 47 27 161 Borrow- ers. 70 28 209 11 53 140 32 77 222 276 6 239 48 42 40 59 50 51 54 107 43 318 460 55 407 68 30 222 7 100 19 167 Shares in force. 4, 1C0 616 2,795 188 267 831 071 510 2, 358 4,501 170 2,973 148 144 078 108 158 574 768 861 690 l,-072i 211 198 2,984 1,607 1,190 8,498 408 423 2,703 095 087 172 001 371 230 1;144 769 3,653 1,097 3,580 230 157 937 Real 2state loans. (a) («) (a) (a) (a) (a) (a) («) (a) (a) (a) 337 (a) (a) (a) (a) (a) (a) (a) (a) (n) 75 (a) (a) (a) (a) (a) («) W (a) 154 (a) (a) (a) (a) (a) (a) (a) (a) la) (a) (a) (a) (a) («) 96 REPORT OF THE COMMISSIONER OP LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. ■ JVBJBAWA— Concluded. Locality. WHITE COUNTY Broolcston Chalmers MoDticello Wolcott Naiuo of association. Brookston Building and Loan Chalmers Building, Loan, and Savin Hunticello Building Wolcott Building and Loan Date of organization. Dec. 1, 1887 Juno 14, 1887 Dec. 3, 1885 Mar. 1, 1891 APPANOOSE COUNTY. Centerville BENTON COUNTY. Belle Plaine Shellsburg Vinton -. BLACKHAWK COUNTY. Cedar Falls Cedar Falls Cedar Falls Cedar Falls Laporte City Waterloo Waterloo Waterloo BOONE COUNTY. Boone Boone BUENA VISTA COUNTY. Storm Lake CARROLL COUNTY. Carroll CASS COUNTY. Atlantic Atlantic Atlantic CERRO GORDO COUNTY. Mason City CHEROKEE COUNTY. Cherokee CLAY COUNTY. Spencer CLINTON COUNTY. Clinton Clinton Clinton Clinton Clinton Lyons DES MOINES COUNTY. Burlington Appanoose County Loan and Building .. "Workingmen's Building and Loan Shellsburg Building, Loan, and Savings. . Vinton Savings, Building, and Loan Cedar Falls Building, Loan, and Savings Cedar "Valley Building and Loan * . . Gerraania Building, Loan, and Savings. . . Permanent Savings and Loan Laporte Building, Loan, and Savings People's Mutual Building and Loan Perpetual Building and Loan Waterloo Building and Loan Boone Building and Loan National Building and Savings Storm Lake Local Savings and Loan Northwestern Building and Loan Atlantic Mutual Building Cass County Loan and Building Mutual Benefit Building and Loan Mason City Building and Loan Cherokee Building and Loan Spencer Building and Loan..* Clinton Building Fourth Street Building Geruiania Building Perpetual Building Union Building Lyons Building and Loan Burlington Loan j* a Not reported. Sept. Feb. Aug. Jan. Aug. Apr ; Jan.* Apr. Jan. Apr. Mar. Jan. 60ct. Apr. 20,1890 12, 1887 1, 1890 8, 1890 — , 1881 1, 1891 — , 1892 27, 1892 2,1884 14, 1879 1,1890 31, 1878 1, 1887 22, 1891 Sept. 18, 1892 Apr. 6, 1891 Apr. May Jan. 20, 1881 9, 1S89 7, 1891 Feb. 15,1880 May 25,1885 Mar. 1, 1888 Apr. Sept. Sept. Jan. Sept. Apr. 1, 1886 1,1873 27, 1877 1, 1870 19, 1873 1, 1881 Oct. 27,1883 CHAPTER I." — GENERAL TABLES. 97 Tablk I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. INDIANA— Concluded. Local or national. ~ Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Eeal ■ estate loans. Mar- gin- al num- ber. Male. Female. Total. Local ■Local Local 70 (a) (a) 40 27 (a) (■»> 36 97 56 147 76 41 26 83 17 289 156 475 - 196 (a) W (a) 1 ? Terminating Terminating 3 i I©WA. Local . Local . Local . Local . Load . Local . Local . Local. Local . Local . Local - Local - Local National.. Local . Local - Local . Local - Local . Local . Local . Local. Local . Serial Permanent . Serial Serial Serial Serial Serial Serial Serial Serial Permanent . Serial Serial Permanent . National Local Local National — Permanent . Permanent . Serial Serial Permanent. Serial . Serial . Serial Permanent . Permanent . Permanent. Permanent . Permanent . Permanent . Local ' Serial 189 62 45 (a) 57 222 134 (a) 104 455 31 (a) (a) 341 520 407 (a) (a) 106 25 11 (a) 25 163 42 (a) 140 (a) (a) (a) 369 101 343 (a) (a) 62 27 129 205 87 56 30 82 385 170 (a) 137 595 42 91 120 533 105 710 627 810 750 160 151 57 ! -208 bDato of incorporation. 121 13 5 (a) 80 343 347 370 430 147 194 181 991 2.765 670 340 254 692 3, 802 1,671 4,884 1,088 3,697 1,144 873 .938 2,385 845 475£ (O) 6,870 (a) 4,427 (a) 4, 564| (a) 6,844 («) 1,578 (a) (a) (a) (a) (a) 121 13 (a) (a) 60 152 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 98 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IOWA— Continued. Mar- gin- al num- ber. 18 24 Locality. DUBUQUE COUNTY. Dubuque . I>ubuque . Ihibuquo . FAYETTE COUNTY. Elgin IIARRISON COUNTY. Missouri Talley JEFFERSON COUNTY, Fairfield .KEOKUK COVNTY. "What Cheer . What Cheer . LEE COUNTY. IFort Madison . Keokivk ., Keokuk -. LINN -COUNTY. Cedar Rapids. Cedar Rapids. Cedar Rapids. LOUISA COUNTY. Morning Sun . Morning Sun . "Wapello MADISON COUNTY. Winterset MARSHALL COUNTY. Marshalltown MILLS COUNTY. Glenwood MONTGOMERY COUNTY. Rod Oak. Stanton.. Villisca.. MUSCATINE COUNTY. Muscatino ■ PAOE COUNTY. Shenandoah . Shenandoah . PALO ALTO COUNTY. Emmctsburg - PLYMOUTH COUNTY. Akron . . . Le Mars . Name of association. Dubuque Building and Loan Iowa Mutual Building and Loan - People's Building and Loan Elgin Building and Loan Workingmen's Building and Loan Fairfield Loan and Building Home Building Society "What Cheer Building "Society Fort Madison Loan and P.uildmg Keokuk Loan and Building -. Lee County Loan and Building Bohemian BuSldina and Loan Cedar Rapids Building and Loan Perpetual Building , Mutual Loan and Savings People's Building and Loan "Wapello Loan, Building, and Savings "Winterset Building, Savings, and Loan Iowa State Business Men's Building and Loan Glenwood Building and Loan Red Oak Building and Savings Stanton Mutual Loan and Building Villisca Mutual Loan and Building Muscatine Building and Loan Citizens' Savings, Loan, and Building Shenandoah Mutual Loan Emmetsburg Building and Loan Akron Building and Loan Le Mars Building and Loan -. a Not reported. Date of organization Feb. 1, 1S76 Apr. 16, 1890 June 1, 18S5 Aug. 21,1891 Aug. 4, 1880 May 1, 1883 Jan. 28,1886 Oct. 16,1888 Mar. 15,1878 Mar. —,1872 Sept. 1,1885 .Tan. 1, 1892 Sept. 1,1890 Jan. 19, 1875 May 1,1886 Feb. 17,1891 Feb. 3, 1890 Jan. 1, 1889 Sept. 14, 1891 Dec. 20, 18S9 Oct. 4, 1887 Mar. 1, 1888 Mar. 26, 1880 Oct. 10,1892 Oct. 4, 1884 Jan. 8, 1889 June 8,1888 Feb. 23,1889 May—, 1883 CHAPTER I. GENERAL TABLES. 99 Ta.ruk I.— NAME, LOCALITY, AND BESCIRIPTION OF ASSOCIATIONS— Cont'd. lO W A— Oontaaraed. Local or liaLioiiiil. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin al num- ber. Male. Female. Total. -Local Permanent - . (a) 1, 740 02 (a) 708 193 1,100 2,448 255 270 347 75 9,763 10, 415 3,216 150 67 1 2 3 Local Permanent — 99 57 156: 9 624 (a) 4 109 73 182 79 2,145 (a) 5 (a) (a) 456 172 1.145J (a) 6 Terminating 10 11 10 11 10 5 118 77 (a) (a) 7 f Local Local (a) (a) (a) (a) (a) (a) 461 (a) 576 172 W 224 2,272 1,3871 1.664J 200 (a) (a) 9 1( 11 Local Local Terminating Permanent IBS (a) 221 25 (a) 105 130 209 326 43 49 125 646 1,400 ■2,000 (a.) (a) 125 12 13 14 Local Local Terminating Terminating 39 48 48 3 28 12 42 76 60 30 11 41 151 400 274 (a) W 17 15 16 17 69 22 91 40 458 G3 IS i 557 104 661 39 5, 3084 (a) IS (a) (a) 145 34 452 (a) 2C Local. 128 27 514 52 6 87 180 33 601 107 5 71 786 250 1,269 M (or) (a) 21 22 21 158 21 179 21 600 (a) 24 Local Local Terminating (a) 153 (a) 64 87 217 64 81 384 862 (a) (a) 21 2( 45 6 51 21 790 (a) 2 - Local 30 02 8 3 38 65 16 35 159 567 (a) (a) 2! Serial 2! 100 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IOWA— Concluded. Mar- gin- j al | Locality, num- ber. I Name of association. Date of organization. POLK COUNTY. Des Moines Des Moines Des Moines Des Moines Des Moiues Dea Moines Dea Moines Des Moines POTTAWATTAMIE CO. Avoca Council Bluffs * POWESHIEK COUNTY. G-rinncll SCOTT COUNTY. Davenport Davenport Davenport* SIOUX COUNTY. Alton Ha warden Hull.. Orange City TAMA COUNTY. Tama VAN EUREN COUNTY. Bonaparte WAPELLO COUNTY. Eldon Ottumwa Ottumwa WASHINGTON COUNTY "Washington WEBSTER COUNTY. Fort Dodge WINNESHIEK f.OUNTY. Decorah WOODBURY COUNTY. Sioux City Sioux City Sioux City Sioux City Sioux City Cottage Home Building Home Savings and Loan Iowa Building and Loan Iowa Deposit and Loan Company . Iowa National Building and Loan . Iowa Savinga and Loan Polk County Loan and Building. . . Union Building and Savings Avoca Building and Loan Savings, Loan, and Building . Grrimiell Building and Loan. Davenport Loan, Building, and Savings Home Protective Building, Loan, and Savings Merchants and Mechanics' Loan, Building, and Sav- ings. Sioux County Building and Loan House Building, Savings, and Loan. Mutual Building and Loan Orange City Building and Loan Mutual Loan and Savings. Bonaparte Loan and Building . Eldon Loan and Building Ottumwa Loan and Building Wapello County Loan and Building . Washington Loan and Building Jan. 31.1889 Jan. 1.1892 Jan. 25,1889 Jan. 1, 1891 Mar. 10,1890 Aug. 14, 1889 Oct. —1888 July 1, 1890 May 7, 1889 Mar. 1, 1877 Oct. 1, 1887 June 18, 1877 Apr. 1,1890 Mar. 1,1889 July 14,1890 Apr. 1, 1888 July 1. 1885 Sept. 1,1891 Apr. 2, 1889 Mar. 16, 1891 July 12,1881 Mar. 21, 1875 Juno 20, 1888 Apr. 9, 1886 Eort Dodge Building and Loan ! Oct. 8,1881 I I Decorah Building and Loan \ Oct. 1,1891 House Building Savings and Loan ' Sept. 27, 1887 Interstate Building and Loan Company ' Apr. 27, 1888 Mechanics' Building ' May 21, 1881 People's Building, Loan, and Investment Company... June 1, 1889 Scandia Building ' May 5, 1882 a Not reported. CHAPTER I. — GENERAL TABLES. 101 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IOWA-CouclmW. Local or Dili in jim I. Local Local National. . Local National- - National. . Local National.. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Loct.1 Local Local Permanent, termi- nating, or serial. Permanent Permanont Permanent Permanent Permanent Serial Serial Permanent Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Shareholders. 34 423 265 1,027 ' 5, 193 (a) 220 («) (a) (a) 50 135 52 32 100 769 217 211 (a) 152 202 79 male. Total. 10 50 217 640 48 313 483 1,510 1,039 6, 232 (a) 5,200 7C 296 (a) 1.271 41 144 165 544 34 120 207 697 (a) 210 (a> 370 20 70 65 200 25 77 12 44 22 63 J9 80 33 133 304 . 1, 073 71 288 29 240 (a) 190 12 87 95 247 77 279 30 109 (a) 167 28 209 Borrow- ers. 5(1 GO 54 81)2 767 1,000 (a) 133 00 230 274 40 82 103 205 115 Shares in force. Real estate loaus. 519 (a) 3.219 (a) 1.200 52 9,897 (a) (a) 758 30. 403 1,000 1,674 (a) 7, 928 127 870 W 3,124 «*) 832 58 4. 145 278 1,240 40 3,744 82 258 (a) 1,880,', (a) 543 (a) 254 (a) 912 (a) 520 (a) 412 (a) 1,148 261 304 (a) 853 (a) 1,618 (a) 647 15 3,208 (a) 2,759 (a) 8,4 (a) 1.984 (a) 1.233 (a) 102 KEPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. KANSAS. Mar- gin- al mini ber. 12 Locality. ANDERSON COUNTY. CoUny. Colony ATCHISON COUNTY. AU"lihsc>:i BOURBON COUNTY. Port Scott BROWN COUNTY. Hiawatha Horton Horton CHASE COUNTY. Cottonwood Falls Cottonwood Falls CHAUTAUQUA COUNTY. Cedar Vale Sedan i •- CLAY COUNTY. Clay Center CLOUD COUNTY, Concordia COFFEY COUNTY. Burlington COWLEY COUNTY. Arkansas City Arkansas City Winfleld CRAWFORD COUNTY. Cherokee Girard Pittsburg DICKINSON COUNTY. Abilene Chapman Heriirgton DOUGLAS COUNTY. Lawrence ELLIS COUNTY. Hays City ELLSWORTH COUNTY. Ellswoith Ellsworth Name of association. Colony Improvement and Savings, No. 1 Colony Improvement and Savings, No. 2 Atchison Loau and Building Fort Scott Building and Loan Hiawatha Building and Loan C. E- 1, and P. Employes' Building, Loan, and Savings Merchants and Mechanics' Home Building, Loan, and Savings. Citizens' Building and Loan Home Building and Loan - Cedar "Vale Building, Savings, and Loan Sedan Building and Loan Phoenix Loan and Building Concordia Building and Loan Burlington Building, Loan, and Savings Arkansas City Building and Loan Mechanics' Building and Loan "Walnut Valley Building and Loan Cherokee Building, Loan, and Savings Girard Building and Loan Pittsburg Building, Savings, and Loan Abilene Building and Loan Chapman Building, Loan, and Savings Herington Building and Loan Kansas Building and Loan Hays City Building and Loan "Western Mutual Loan and Building "Wilson Mutual Loan and Building a Not reported. Date of organization. Apr. 9.1887 Fob. 1.1889 Apr. 5,1887 Sept. 1,1881 Apr. 1, 1887 June 2,1892 Mar. 26, 1888 Apr. 1,1888 Apr. 1, 1891 May 1, 1888 Mar. 10,1887 Oct. 21.18S0 June 15, 1887 Mar. 15,1884 Oct. 20,1887 Mar. 21,1892 Jan. 1,1887 May 21.18SG Jan. 1,1890 Mar. 1, 1883 Feb. 21,1885 Aug. 17, 1889 Apr. 23, 1887 Jan. 2, 1890 Oct. —,1887 Jan. 5, 1885 May 1, 1885 CHAPTER I. — GENERAL TABLES. 103 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. KANSAS. Local or national. Local. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local , Permanent, termi- nating, or serial. Terminating . Terminating . Terminating . Serial . Serial . Serial . Serial . Terminating . Terminating . Serial . Serial . Serial . Serial . Permanent. Serial . Serial . Serial . Serial Terminating . Serial Serial . Serial . Serial . Local Permanent Local . Local. Serial . Shareholders. Male. Female. 179 140 79 45 35 Serial . Serial . 214 56 22 30 295 335 10 25 19 Total. 58 ISO 80 50 64 235 64 24 95 30 325 500 Borrow- ers, 20 26 49 10 127 Shares in force . 1,570 1,012 450 500 30 359 98 284 105 725 583 206 248 1,436 635 395 5,200 492 158 184 Eeal estate loans. (a) (a) (a) (a) (a) (a) (a) (a) (a) (a; (a) (a) (a) (a) (a) (a) (a.) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 104 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. KANSAS— Continued. Mar- gin- nura ber. Locality. FORD COUMTY. Dodge City FRANKL1X COUNTY. Ottawa GEARY COUNTY. Junction City GREENWOOD COUNTY. Eureka - Severy . . JEWELL COUNTY. Mankato LEAVENWORTH COUNTY. Leavenworth . Leavenworth . LYON COUNTY. Emporia- Emporia. Emporia. MCPHERSON COUNTY. Lindsborg MARION COUNTY. Marion . . Peabody . MIAMI COUNTY. Osawatomie . Osawatomie . 25 MONTGOMERY COUNTY. Elk City MORRIS COUNTY. Council Grove T NEOSHO COUNTY. Chamito . Erie Name of association. "Western Building, Loan, and Savings Ottawa Mutual Loan and Savings Junction City Building, Loan, and Savings . Eureka City Building and Loan Severy Building, Savings, and Loan . Mankato Building and Loan Citizens' Mutual Building and Loan Leavenworth Mutual Building, Loan, and Savings Emporia Mutual Loan and Savings. Union Building and Loan. No, 5 Union Building and Loan, No. 6 Citizens 1 Building Marion Building and Savings. Peabody Building and Loan .. Borrowers' Building and Loan. . Osawatomie Building and Loan. Date ol- organization. OSAOE COUNTY. Burlingame. Osage City . OTTAWA COUNTY. Delphos Minneapolis . PAWNEE COUNTY. Earned Elk City Building anil Loan Council Grove Building and Loan . Chauute Building and Loan . Erie Building and Loan Burlingame Mutual Loan and Saviugs. Union Building and Loan Delphos Building and Loan Minneapolis Building and Loan Pawnee CounLy Building and Loan. u, Not reported. Apr. 25,1889 Apr. 11,1889 May 5, 1886 Mar. 1, 1888 Apr. 1, 1884 Aug. 7,1889 Mar. 3,3884 Apr. 11,1888 Mar. 8, 1884 May 5, 1889 Aug. 6,1892 Sept. 8,1887 June 1,1886 Apr. 7, 1885 Oct. 25,1892 Sept. 1,1887 Feb. 20,1886 Apr. 3, 1883 Mar. 31,1886 Apr. 1, 1884 June 28, 1886 Oct. 15,1884- June 1,1887 Jan. 1, 1885 Sept. 1, 1885 CHAPTER I. GENERAL TABLES. 105 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. KANSAS-Continned. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. tf ar- gil - Male. Female. Total. a um- ber. 16 3 19 10 73 (a) 1 Local Permanent 226 117 343 117 1,357 (a) 2 158 20 187 92 1,696 103 3 78 44 2 8 80 52 70 35 702 130 (a) (a) 4 Permanent 5 Local Serial 14 2 16 13 171 (a) 6 Loral Serial 525 356 75 119 600 475 200 118 3,780 3,060 (a) . (a) 7 8 Local Permanent Terminating Terminating 224 125 138 115 25 42 339 150 180 195 110 43 4,000 902 1,315 (a) (O) (a) 9 10 11 Local Terminating 39 5 44 29 138 (a) 12 Local 55 26 8 14 63 40 29 20 447 106 23 (a) 13 14 Local Permanent 48 108 8 19 56 127 18 88 148 1,163 (a) 88 15 If 23 23 10 112 (a) 15 20 1 21 13 125 (a) If Local (a) 24 (a) 2 (a) 26 6 16 230 159 (a) (a) It 21 Local Permanent 00 139 33 28 93 167 45 85 800 2,000 (a) (a) 2 Local Local 32 48 32 48 24 42 114 248 (a) "if Serial 41 4 45 13 479 (a) 2 106 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. KANSAS-Conc-liuled. Locality. PHILLIPS COUNTY, Phillips burg RICE COUNTY. Lyons Sterling RILEY COUNTY. Manhattan Riley ROOKS COUNTY. Stockton RUSSELL COUNTY. Russell SALINE COUNTY. New Cambria Salina SHAWNEE COUNTY. lopeka Topeka SUMNER COUNTY. South. Haven "Wellington WILSON COUNTY. Neodesha WOODSON COUNTY. Neosha Falls Neosha Fall* WYANDOTTE COUNTY Argentino Kansas City Kansas City Kansas City Namo of association. Phillipsburg Building and Loan Lyons Building and Loan ~ Sterling Building and Loan Manhattan Building and Savings Riley Building and Loan * Stockton Building and Loan, No. 1 Russell Building and Loan New Cambria Building andXoan Homestead Building ,25tna Loan Company _ , Shawnee Building and Loan South. Saven Building and Loan Home Building and Loan Neodesha Building and Loan Neosha Falls Building, Loan, and Savings, No. 1 Neosihii Falls Building, Loan, and Savings, N-o. 2. Argentine Savings and Loan iEtna Building and Loan Interstate Building and Loan Kansas City Building and Loan Date of organization . Feb. 30,1888 Feb. 21.1887 Jan. 21,1887 Apr. 21,1835 Jan. 25,1888 Feb. 1,1887 June 15, 1885 Nov. 19,1887 Dec. 9, 1889 Oct. 1, 1891 Mar. 39,1885 Jan. 8, 1887 Ang. 2,1886 Feb. 12,1887 Apr. 10, 1886 Feb. 27,1890 Apr. 7,1890 Aug. 1,1891 Apr. 1. 1889 Mar. 31,1888 KENTUCKY. BOONE COUNTY. Constance- Hebron , "Walton BOURBON COUNTY Millcrsburg Paris Paris Paris Paris Paris Constance Building^ and Loan Company Sept. 19,1887 Hebron Perpetual Building and Loan [b Mar. 2,1891 "Walton Perpetual Building and Loan Millersburg Building and Loan Bourbon Colored Mutual Savings and Loan . Citizens' Building and Savings, series A Citizens' Building aDd Savings, series B Citizens' Building and Savings, series C ... Mutual Savings and Loan , a Not reported. May 4,18 Apr. 6,1885 Mar. 12, 1887 Aug. 6, 1888 May 2, 1891 June 14, 1892 Jan. 23,1883 CHAPTER I. GENERAL TABLES. 107 Table I.s-NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. KANSAS— Concluded. Local or national. Permanent, termi- nating, ur serial. Local Local Local Local Local Local Local Local Local National.. - Local Local Local Local Local Local Local Local Local Local Serial Serial Serial Serial Serial Terminating Serial Terminating Serial Serial .'. Serial Terminating Serial Serial Terminating Terminating Permanent .. Permanent . - Serial Terminating Shareholders. Male. 74 (a) 790 380 207 35 102 39 Female. (a) 100 100 Total. 100 33 (a) 480 219 40 100 44 Borrow- ers. (a) 52 135 Shares in force. 912 251 821 188 (a) 1,590 3,643 28 61 2,418 130 530 262 Real estate loans. (a) (a) W (a) (a) (a) (o>) (a) (a) (a) (a) (a) (a) (») (a) (a) SEIVTCCKV. Local Local Local Local Permanent 52 58 140 56 54 83 65 59 206 8 8 25 15 11 27 18 40 81 60 66 165 71 €5 110 83 99 287 24 10 124 21 41 61 34 26 91 185 141 653 294 172 956 A17 C95 821 («) (a) («) W (a) (a) (a) (a) (a) 21 22 23 24 Permanent Terminating Terminating Terminating 25 26 27 28 29 b Date of incorporation. 108 REPORT OF THE COMMISSIONER OP LABOR. Tablm I.— NAME, LOCALITY. AND DESCRIPTION OF ASSOCIATIONS— Cont'd. KEIYTUCKY— Continued. Locality. Name of association. Date of organizatiefti. BOYD COUKTY. Ashland . Ashland . Ashland . Ashland . Ashland . Ashland . Ashland . Ashland . BOYLE COUNTY. Danville BRACKEN COUNTY. August? CALDWELL COUNTY. Princeton CAMPBELL COUNTY. Bellevuo- Bellevuo. Bay ton . . Dayton .. Newport Newport. Newport. Newport. Newport. Newport. Newport. Newport. Newport. Newport. Newport. Newport. Newport. Newport. Newport. Newport. CHRISTIAN COUNTY. Hopkinsville . Hopkinsville . CLARK COUNTY. "Winchester. "Winchester. Winchester. FAYETTE COUNTY. Lexington . Lexington . Lexington . Lexington . Lexington . Lexington . Lexington . Lexington . Lexington . Lexington . FLEMING COUNTY. 47 Flemingsburg . Ashland Building Equitable Building and Loan German Building Home and Savings Fund New Enterprise Building and Loan New Park City Building and Loan Standard Building and Loan Workingmen's Building and Loan Central Kentucky Building and Loan Bracken County Building and Savings Princeton P>uildiug and Savings Bellevue Loan and Building Home Savings and Loan - Citizens ' Loan and Savings Progressive Savings and Loan Company v Banner Loan and savings '. .*. Favorite Savings and Loan Fidelity Building, Savings, and Loan Company Germania Loan and Building Grand Central Building and Savings Home Loan and. Building Kentucky Loan and Building, No. 1 Licking Valley Building, No. 3 - Merchants and Mechanics' Loan and Building... Model Building and Loan National Loan and Building, No. 1 Phoenix Loan and Building Pioneer Building Sixth "Ward Loan and Building „ Washington Loan Workingmen's Loan and Building Hopkinsville Building and Loan South Kentucky Building and Loan Safety Building and Loan Company Winchester Building and Loan Winchester Building and Savings Ashland Building and Savings Blue Grass Building and Loan Deposit Building and Loau Fayette Building and Loan Homestead Loan and Savings Industrial Building John Washington & Co. Home Builders Mechanics' Building and Loan Saturday Night Savings and Loan Union Building and Loan Fleming County Building and Savings aNot reported. Aug. 1, i8:;o Mar. t€, 1891 Nov. 21, 1887 Mar. 4. 1883 Juno. 1,1892 Mar. 15,1889 May 26, 1«91 June 20, 1892 b May 7,1886 Dec. 17,1887 Jan. 6, 1883 Apr. 4, 1889 July 7, 1882 June 25, 1801 Oct. 8, 1889 Mar. 18, 1884 June 7,1883 Dec. 29, 1880 Aug. 17, 1879 Aug. 27, 1891 Apr. 1, 1882 May 8, 1880 May 9, 1883 Sept. 19, 1892 K'eb. 9. 1886 Sept. 30, 1881 May 3, 1*86 *'eb. 2,18*9 Oct. 20, 1883 Jan. 7. 1887 Oct. 7, 1880 Mar. 27, 1890 May 12, 1-892 Jan. 1,-1885 July 1, 1885 May 5,1880 June 8, 1891 Apr. 21,1890 Feb. 29, 1888 May 12, 1884 July 12,-1K>2 June 2, 1890 May 7, 1886 Apr. 7, 1888 Juue 24, 1890 Mar. 4,1885 CHAPTER I. GENERAL TABLES. 109 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS- Cont'd. KENTUCKY- Continued. Local or national. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local National. National Local .... Local Local National. Local Local Local Local Local Local Local Local Permanent, termi- nating, or serial. Terminating . Terminating . Terminating . Serial Terminating. Terminating . Terminating . Permanent... Serial . Serial . Serial . Permanent.. Permanent.. Permanent. Permanent. ■Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. Permanent-. Permanent. Permanent. Serial . Serial . Serial . Serial . Serial . Local Serial Permanent . - . Serial Permanent . .. Permanent... Terminating . Permanent. .. Permanent . .- Terminating . Permanent . -. Permanent... Shareholders Male. Female. Total (a) 30 122 80 I) 44 36 14 (a) 345 382 344 172 99 70 (a) 358 507 67 303 359 624 186 173 213 50 140 153 116 100 334 26 (a) 537 3,208 184 340 233 70 40 143 372 175 (a) 3 21 15 (a) 29 4 75 69 109 124 25 63 («) 92 259 25 154 49 210 98 221 119 28 55 52 85 15 30 149 31 184 799 60 107 115 38 4 82 51 ,90 55 33 143 95 300 73 40 14 420 451 543 290 124 133 648 450 760 92 457 408 870 284 394 332 84 195 205 183 131 130 483 57 (a) 721 ,007 244 447 348 117 44 225 423 265 Borrow- ers. 99 26 125 b Date of incorporation. 24 10 123 17 12 44 150 76 203 07 38 24 206 186 299 14 (a) 141 470 17 108 230 22 39 80 Shares in force. 234 167 507 457 300 271 188 1.465 1.806 1,373 740 - 418 153 1,938 1,196 1,970 154 1,702 798 1,995 1,152 712 1,402$ 172 297 7644 653 979 1,313 Real estate loans. 128 6,389 (a) 18 89 (a) 52 1,490 (a) 339 1,443 (a) 155 9,204 (a) 84 677 53 36.) 1,789 (a) 300 800 (a) 18 274 (a) 18 254 (a) l(i.-> 677 W 161 335 (a) 142 531 135 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 47 110 REPORT OF THE COMMISSIONER OF LABOR. Tai;le t.— NAME r LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd, KE MT U C K.¥— Continued. Locality. FRANKLIN COUNTY. Frankfort Frankfort Frankfort FULTON COUNTY. Fill ton Hickman . GALLATIN COUNTY. GLfiBCOe GAKBARD COUNTY. Lancaster GRANT COUNTY. Crittenden Willi ainstown . HARBISON COUNTY. Cymthiana. Cymlbiana . HENDERSON COUNTY. Henderson. . Henderson.. Henderson. . Henderson.. . HENRY COUNTY. Eminence HICKMAN COUNTY. Columbus .-. JEFFERSpN COUNTY. Louisville . Louisville . Louisville . Louisville . Louisville . Louisville . Louisville - Louisville . Lomisville . Louisville . Louisville . Louisville . Louisville . Loiuisville . Louisville . Louisville . Louisville . Louisville . JESSAMINE COUNTY. Nicholas ville - Nicholas vills . KENTON COUNTY. .38 Covington. 39 Covington. 40 I Covington . Name of association. Frankfort Building and Loan Kentucky Investment and Building. Feopte's Homestead and Savings Fulton. Building and Loan Hickman Building and Loan . Gleneoe Perpertmal Building and Loan. Lancaster Budding and Loan . Crittenden Building and Loan Grant County Building, Loan, and Savings. Cynthiana Building and Savings Harrison County Building and Savings , Henderson Building, and Loan Kentucky Mutual Buildinigand Loan Merchants and MechanicsTUuilding and Loan People's Homestead and Savings Eminence Mutual Building; Loan, and Savings Com- pany. Colunihus Building aud Loan -...„.. Citizens 1 National Building and Loan Citizens' Savings, Loan, and Building Colmmibia Building, Loan, and Savings Commercial Building Trust , Equitable Savings and Loan German Savings and Homestead Fund Company Globe Building and Loan Company Home and Savings Fund Company , Kentucky Building and Loan Louisville SavingB, Loan, and Building Company. Mechanics' National Building and Loan , Mutual Building and Loan National Building and Loan OhioFarlls Building and Loon Old Kentucky Budlding and Loan Portland Savings and Loan , Standard National Savings and Loan , United States Building and Loan „! Jessamine County Building and Loan People's Savings and Loan Burnett Perpetual Building and Loan Centennial Perpetual Building and Loan Champion Building and. Loon a Not reported. Date of organization. Apr. 12, 1872 Oct. 1, 1889 June 1, 1888 May 4, 1887 Feb. 20, 1S90 Mar. 12, 1890 June 13, 1883 Feb. 2,1891 July 23,1888 Feb. 4, 1688 July 1, 188^ Mar. 1, 1874 May 11. 1891 June 1, 1*89 Mar. 1, 18S7 May 6, 1890 June 22, 1SS5 Apr. 4, 1891 Oct. 18, 1889 Jan. 4,1892 Feb. 16, 1882 May 30, 1887 Apr. 20,1889 Feb. 12, 1891 Oct. 30, 1880 June 1,1891 Sept. 10, 1889 Jan. 30, 1892 Sept. 16,1891 Aug. 29, 1889 Jan. 1, 1890 Nov. M, 1887 Nov. 22, 1889 Aug. 1, 1891 Dec. 8,1800 Apr. Feb. 19, 1889 27,1890 Sept. 21, 1S87 May 4, 1891 Dec. 1, 1887 CHAPTER I. — GENERAL TABLES. Ill Taui.h-1.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. K£ H TtT CK V —Continued . Local or national. Permanent, termi- nating, or serial. Local Local Local Local Local Local Local Local Local Local Local Local National. Local Local Local Local National. Local National. National. Local Local National. Local National National. - National- National. National. Local. ... Local Local National. National. Local Local Local Local Local Terminating . Serial iSerial ..* ■Serial tSerial Permanent 'Serial Permanent ^Permanent Permanent . . Permanent . - Serial . Serial . Serial . Serial . Permanent . Serial . Serial permanent . Serial Serial Permanent . Permanent. Serial Permanent. Serial Serial Serial Permanent. Serial Permanent. Serial Permanent. Permanent. Serial Permanent. Permanent. Permanent. Permanent. Permanent. Shareholders. Male. Female. 36 219 61 79 206 66 52 190 150 152 139 293 478 60 449 67 643 1,427 355 621 1,659 1,286 672 2,012 402 54 2,609 455 56 140 191 3,770 U5 80 121 177 41 18 25 19 107 45 118 150 71 221 311 005 133 201 70 7 641 195 33 10 24 871 40 350 269 94 219 Borrow- ers. 228 179 211 ISO 370 488 391 175 556 112 761 1,577 326 842 1,970 1,951 805 2,213 472 61 3,250 650 89 150 215 4,641 189 108 153 235 50 24 208 76 40 Shares in force. 82 35 228 62 42 44 47 98 156 252 911 176 524 56 4 570 118 36 35 21 374 150 5,040 872 206 006 1,025 1,283 2,048 5,360 523 1,780 Ileal estato loans. 5,085 289 3,491 10, 355 3,238 13, 002 20, 392 27,340 5,002 20, 163 3,817 719 22, 567 4,936 463 1, 447 1,846 23, 539 1,113 908 497 1,422 257 Mar- gin- num- ber. (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 44 (a) (a) 135 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 112 REPOET OF THE COMMISSIONER OF LABOR. Taijlk I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. KEIVT€JCK.V-Cuntinued. Locality. KENTON COUNTY— COD C'd. Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Covington Erlan ger Ludlow Ludlow Milldale LEWIS COUNTY. Vanceburg LINCOLN COUNTY. Stanford LOGAN COUNTY. ltussellviUe MCCRACKEN COUNTY. PaducaU Paducah Paducah Paducah Paducah MADISON COUNTY. Kichmond MASON COUNTY. Maysville Maysville Maysville MERCER COUNTY. Harrodsbnrg MONTGOMERY COUNTY. Mount Sterling NICHOLAS COUNTY. Carlisle OLDHAM COUNTY. La Grange Name of association. Citizens' Perpetual Building and Savings Columbia Building Commonwealth. Perpetual Building and Loan Cottage Building, No 2 Covington Perpetual Building and Loan Fidelity Building ■. Forrest Hill Loan and Building, No. 2 General Building, No. 3 Germania Loan and Building Glory Building Grand Central Loan and Building Kentucky Perpetual Building and Loan Latonia Building, No. 2 Lewisburg Building, No. 3 Madison Avenue Perpetual Building Ninth "Ward Perpetual Building People's Building Permanent Building and Loan Star Permanent Building Suburban Perpetual Building and Loan "West End Building and Loan Erlanger Perpetual Building and Loan Home Building, No. 1 Kenton Building Milldale Building and Loan Company "Vanceburg Building, Savings, and Loan Lincoln County Building and Loan Kussellville Building and Loan Citizens' Building and Loan Kentucky Building and Loan Mechanics 1 Building and Loan Paducah Building and Loan Pioneer Building and Loan Kichmond Building and Loan Corporation . . . Limestone Building Mason County Building and Savings People's Building Mercer County Building and Savings Mutual Building and Loan Nicholas County Building and Savings., La Grange Loan, Building, and Savings a Not reported. Date of organization. Mar. 6, 1886 June 1, 1884 Aug. 4, 1885 Deo. 5, 1884 June 1, 1885 Feb. — , 1887 Oct. 9, 1882 Mar. 1,1888 Apr. 2, 1882 Deo. 23, 1888 June 17. 1885 Oct. 3, 1885 Mar. 10,1891 Apr. 4, 1887 Aug. 25, 1885 Mar. 3, 1890 Mar. 2, 1891 Jan. 4, 1887 May 28, 1887 Apr. 4,1887 Oct. 17, 1887 June 10, 1890 May 1, 1880 July 1, 1888 June 19, 1891 Deo. 7. 1891 Feb. 16, 1887 Oct. 24, 1887 Mar. 25, 1887 May 28, 1891 Feb. 1,1887 Feb. 22, 1887 Jan. 1, 1884 July 1, 1888 Mar. 1,1886 Fob. 1,1880 May 1,1891 May 25, 1888 Mar. 19, 1881 Feb. 10, 1883 Not. 21, 1889 CHAPTER I. GENERAL TABLES. 113 Taiii,k I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd, KEIVTUCKV-Continued. Local or national. Local . . Local.. Local , . Local . . Local., Local . Local. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local. Local . Local . Local. Local. Local . Local. Local . Local . National. Local . Local . Local . Local . Local . Local . Local . Local Local National. Local Local . Local . Permanent, termi- nating, or serial. Permanent.. Permanent.. Pormanent.. Permanent. . Serial Permanent.. Permanent.. Permanent.. Permanent. . Permanent. . Permanent-. Permanent.. Permanent.. Permanent- . Serial Permanent. . Permanent. Serial Permanent. Permanent. Permanent. Permanent. Permanent. Permanent . Permanent. Permanent. Serial . Serial . Serial Permanent . Serial Serial Serial Permanent . Serial. Serial. Serial. Permanent Serial . Serial. Local Serial H. Ex.'209 8 Shareholders. Male. Female. Total 003 450 190 437 316 233 200 198 502 43 252 823 164 345 150 201 51 308 167 172 52 09 281 125 184 120 242 220 8!) 122 407 615 289 250 125 43 203 158 119 80 86 312 18 36 240 5') 09 55 83 19 157 47 49 27 21 168 49 4(1 102 125 121 18 S53 575 233 703 474 352 280 284 814 01 288 1,060 214 414 205 284 70 •165 214 221 79 120 449 174 224 32 158 59 301 43 263 32 121 49 171 509 740 410 Borrow- ers. 145 423 102 101 151 215 160 117 330 13 171 283 07 194 63 86 20 147 104 83 27 45 109 42 33 35 181 219 155 Shares in force. 1,780 1,565 1,385 3,821 1,406 905 1,058 1,858 825 173 715 2,472 1,034 1,403 518 1,319 207} 1,587 003 779 183 437 2,187 428 794 843 1,750 2,261 1, 398 585 1,168 1,092 2,751 4,634 2,103 Real estate loans. (a) (a) (a) (a) (a) (al (a) 78 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) («) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 114 REPORT OP THE COMMISSIONER OP LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. K.EIVTUCK.ST— Concluded. Locality. OWEN COUNTY. Owenton PENDLETON COUNTY. Butler Falmouth -. Falmouth PULASKI COUNTY. Somerset , Somerset Somerset SCOTT COUNTY. Georgetown UNION COUNTY. Morganfield WOODFORD COUNTY. Midway Versailles CADDO COUNTY. Shreveport CALCASIEU COUNTY. Lake Charles EAST BATON ROUGE COUNTY. Eaton Kougo EAST CARROLL COUNTY Lake rrovidence IBKIUA COUNTY. Kcw Iberia JEFFERSON COUNTY. Gretna LAFAYETTE COUNTY. La Pay otto ORLEANS COUNTY. New Orleans New Orleans New Orleans New Orleans New Orleans New Orleans New Orleans New Orleans Now Orleans Kamo of association. Owen ton Building, Loan, and Savings Butler: Building and Loan Falmouth. Loan and Building Young Men's Building and Loan Home Bnilding and Loan South. Somerset Buildingand Loan Young Men's Land and Building Company .. Scott County Building and Savings T. Morganfield Homestead and Savings Fidelity Perpetual Building and Loan "Woodford County Building and Loan &.OUISIAIVA. Shreveport Mutual Building Lake Charles Homestead and Loan Baton Rouge Building and Loan Lake Providenco Building and Loan, Limited Iberia Building Jefferson Building and Homestead La Fayetto Building and Loan American Homestead Company Commercial Homestead Cosmopolitan Building and Loan Eciuitaole Guaran tee Homestead Eureka Homestead Society Firemen's Building Italo- American Homestead Louisiana Homestead Mutual Building- and Homestead -. a Not reported. Hate of organization. Mar. 1, 1883 Dec. 6, 1880 Apr. 12,1886 Apr. 26,1890 July 20,1892 May 6, 1887 Apr. 1, 1889 Oct. 19,1886 Jan. 12,1883 Apr. 17,1886 Mar. 1, 1887 Apr. 14,1887 Kov. 27, 188G July 2, 1885 Mar. 7,1892 Mar. 12, 1S87 Oct. 29, 1886 Apr. 14,1888 Oct. Apr. Mar. May Bee. Jan. Nov. Oct. May 11, 1883 19, 1886 31, 1888 15,1887 2. 1884 11, 1886 IS, 1891 6,1885 1. 1885 CHAPTER I. GENERAL TABLES. 115 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. KENT TOKY- Concluded. Local or national. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Permanent, termi- nating, or .serial. Shareholders. Male. Permanent . .. Permanent ... Permanent . . . Terminating . Serial Serial Serial Permanent ... Serial Permanent - . . Permanent . .. 108 83 120 06 Female. Total. 135 100 114 175 110 Borrow- ers. 5 121 30 141 40 Shares in force. (a) 25 221 (a) 232 125 525 759 007 Mar- Peal gin- estate al loans. num- ber. «t> 1 (■«) 2 <«1 3 <«) 4 5 (a) G (O) 7 <«) 8 (a) 9 (a) 10 (a) 11 XiOITISIArVA. Local (a) m 246 70 2,715 73 12 Local Serial 128 23 149 52 714 (0) 13 Local .- Serial 84 19 103 9 1,132 (a) 14 Local Serial 47 11 58 6 318 (a) 15 Local Serial 141 52 193 51 959 (a) 10 Local Serial 115 40 155 43 2,004 (a) 17 Serial 31 4 35 21 249J 3,090 2,159 1,148 450 2,271 4,500 672 2,551 9,325 (a) 13 Local Local Local Local . . .' Local Local Local Serial Serial Serial Serial Serial 274 187 316 50 485 385 139 218 633- 85 87 126 5 280 137 6 97 296 359 274 442 55 765 522 145 315 929 99 74 49 7 285 178 5 61 238 (a) (a) > (a) (a) (a) (a) (a) («) 238 19 20 21 22 23 24 25 26 27 116 HEPORT OF THE COMMISSIONER OF LABOR. Tabus I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. LOUISIANA— Concluded. Locality. ORLEANS COUNTY— Conc'd New Orleans New Orleans New Orleans New Orleans New Orleans New Orleans New Orleans New Orleans OUACHITA COUNTY. Monroe RAPIDES COUNTY. Alexandria SAINT LANDRY COUNTY. Opelousas VERMILION COUNTY. Abbeville Name of association. New Orleans German-American Homestead and Building. New South Building and Loan Pelican Homestead and Build ing People's Homestead Southwestern Building and Loan Sun Homestead and Investment Company Third District Building Union Homestead Monroe Building and Loan Alexandria and Pineville Building and Loan Saint Landry Homestead and Loan Abbeville Building and Loan, Limited Date of organization. Feb. 4, 1886 July 1, 1830 Dec. 5, 1887 Sept. 14, 1882 Jan. 29,lfc90 Sept. 20, 1892 Apr. 15,1887 June 10, 1886 Apr. 1, 1887 Dec. 1, 1889 Mar. 14,1883 July 5. 1850 MABIVE. ANDROSCOGGIN COUNTY. Auburn Mechanic Falls CUMBERLAND COUNTY. Brunswick Falmouth Portland Portland Portland Portland South Portland HANCOCK COUNTY. Bucksport Ellsworth KENNEBEC COUNTY. Augusta Gardiner .' Hallowell Waterville KNOX COUNTY. liockland LINCOLN COUNTY. Waldoboro "Wiscasset PENOBSCOT COUNTY. Bangor Dexter Old Town Auburn Loan and Building Mechanic Falls Loan and Building Brunswick Loan and Building Falmouth Loan and Building CascoLuan and Building Cumberland Loan and Building .... Mechanics' Loan and Building . Portland Loan and Building South Portland Loan and Building. Bucksport Loan and Building Ellsworth Loan and Building Augusta Loan and Building.. Gardiner Loan and Building , Hallowell Loan and Building "Watbrville Loan and Building Rockland Loan and Building "Wnldoboro Loan and Building Wiscasset Loan and Building Bangor Loan and Building Dexter Loan and Building Old Town Loan and Building , a Not reported. June 7, 1887 Sept. 25, 1890 June 5,1888 Aug. 10, 1891 Feb. Apr. Apr. Mar. Jan. 1S8S 5, 1890 8, 1890 19. 1890 24. 1891 Apr. 11, 188.) Apr. G, 1891 June 30,1887 Jan. 12,1887 June 1,1889 Juno 11, 1887 May 18, 1888 Apr. 18.1891 Juno 13,1888 Mar. 8, 1880 June 12. 18rf<» May 31,1888 CHAPTER I. — GENERAL TABLES. 117 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. I/OUISlArVA— Concluded. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Eeal estate loans. Mar- gin- al num- ber. Male. Female. Total. Local National Local Local : National Local Local Local Local Local Local Serial Serial Permanent Serial Serial 153 (a) 108 515 2,437 81 251 (a) (a) 143 98 85 60 (a) 38 285 900 1 125 (a) (a) 40 10 23 213 4,693 146 800 3,337 82 370 146 253 183 114 108 85 959 31 200 296 1 75 32 107 42 31 24 1,572 37, 896 1,748 7, 041 19, 625 625 2,197 712 2,464 2,030 553 443 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 24 1 2 3 4 5 7 8 Serial 9 10 Serial Serial 11 12 Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Serial . Serial.. Serial . Serial . Serial Serial . Serial . Serial . Serial . Serial . Serktl . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . 355 01 (a) (a) 170 10H (a) 409 101 115 104 304 108 108 (a) (al (a) 221 («) 474 70 222 263 835 231 198 029 137 81 111 707 137 142 181 GOO 160 151 159 7 51 IK 255 25 21 120 21 201 42 22 33 18S 01 33 1,955 313 1,025 1.629 4,240 1,381 935 (a) 505 262 381 3,944 614 578 1,120 2, 169J 124 116 4.273 575 920 154 13 46 (a) (a) 24 21 (a) (a) 300 41 138 230 79 45 118 REPORT OF THE COMMISSIONER OP LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— CoatU I?1AI IV IS —Concluded . Locality. PISCATAQUIS COUSTY Fox Croft SAGADAHOC COUNTY. Bath SOMERSET COUNTY. Madison Skowhegan WALDO COUNTY. Belfast YORK COUNTY. Biddeford Kennebunk Sanford Name of association. Piscataquis Loan and Building. Bath Loan and Building Madison Loan and Building — Somerset Loan and Building ... Belfast Loan and Building York Loan and Building Kennebunk Loan and Building Saaibrd Loan and Building Date of organization June 16, 1SS7 July 18,18 Apr. 21,1887 Sept. 1,1883 Jan. 21,180, Feb. C, 1883 May 9, 18S9 Mar. 17,1893 MARYLAND. ALLEGANY COUNTY. Cumberland Cum bcrland Cumberland Cumberland Frostbnrg ANNC ARUNDEL COUNTY. Annapolis BALTIMORE CITY. Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Cumberland Loan and Savings German Building, No. G German Building, No. 7 t Potomac Building Equitable Savings and Loan Society TYorkingmen's Building and Loan Acme Savings and Building Aliceann Street Loan and Savings Ashland Building _. Assurance Permanent Loan and Savings Assured Villa and Cottage Permanent Building Astor Mutual Building Atlas Building Baltic Perpetual Building and Loan Baltimore Building and Loan Baltimore Permanent Building Bartoldi Permanent Building and Savings Bee Hive Perpetual Building Bevan Street Permanent Building Bohemian Northeast Building, No. 1 Bohemian Permanent Building and Savings (Slovan stvo) . Bohemian Permanent Building, No. 1 Bohemian "Workingmcu's Buildiug, No. 2 Border State Perpetual Building Border Stato Perpetual Building, No. 2 Brown Street Building, No. 11 Calverton Perpetual "Building, Savings, and Loan.. Camden Street Building and Savings, No. 1 Canton Avonuo Building, Loan, and Savings Canton Permanent Building, No. 1 Caroline Street Permanent Building, No. 1 Carroll ton Land and Loan Centennial Permanent Building, No. 3 Central Stato Savings, Loan, and Building Central Union. Permanent Building Chesapeake Perpetual Savings, and Building City Block Building, No, 4 oNot reported. Oct. 7,1890 Axir. 6, 1883 Deo. 1,1891 ±'eli. 3,1891 Mar. 23, 1891 June 29, 1S91 Mar. 9,1683 Sept. 1, 1880 H'fitl. 1, 1892 Feb. 26,1892 May 27, 1877 Mar. 9.1892 Nov. 27, 1877 Apr. 1, 1891 Sept. 13, 18S8 Nov. 21.188S Sept. 3, 18S8 Nov. 10, 1880 Juno 29, 1885 May 1,1831 Au- 18, 1879 Apr. 4, 1881 Oct. 7, 1809 Apr. 23, 1879 Dec. 21.18S1 Mar. 12,1887 July 18, 1887 Fob. 15, 1887 Oct. 17, 1887 Alar. 21,1878 Deo. 3, 1888 Nov. 4, 1884 Apr. 1, 1892 Mar. 25, 1875 Alar. 22,1880 June 2, 1884 CHAPTEE I. GENERAL TABLES. 119 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. M AIJVE -Concluded. Local or national. Permanent, termi- nating, or florial. Shareholders. Borrow- ers. Shares in force. Real estate loau3. Mar- gin- Male. Female. Total. num- ber. Local Local Local Locai Local Local Local 87 85 44 159 61 149 W 1 ™ 51 5 18 72 13 60 78 (a) 118 90 62 231 74 209 248 300 34 11 14 85 7 31 78 39 595 400 258 1,209 466 961 1,221 1,296 34 11 12 83 8 IHAEYLAIVD. Local . . . Local . .. Local . . . Local . . . Local . . . Local . . . Local . . . Local . .. Local . . . Local . . . Local . . . Local . . - Local . . . Local ... National Local . . . Local ... Local . .. Local . . . Loeal . . . Loeal . . . Local — Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local — Local Local Local Local Local Permanent . Terminating Terminating Terminating Permanent „ Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Serial Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent .. Permanent . Permanent . Permanent - Permanent . Permanent . Permanent . Permanent . Permanent . Permanent .. Permanent ., Permanent - , (a) 176 (a) 203 (a) 64 336 m (a) (a) 12 (a) 372 4,875 52 (a) 65 92 108 (a) 148 190 491 35 350 (a) (a) 112 241 (a) (a) (a) (a) (a) (a) r (a) 7 113 (a) (a) M '1 (a) 28 1,625 10 (a) 33 25 26 (a) 27 50 239 40 (a) (a) (a) (a) (a) (a) (a) 565 877 1,056 873 S5.-S 460 2,512 406 2,576 410 107 330 1,889 30, 203 391 470 787 768 080 2,010 1,028 1,516 1,774 202 2,515 410 1,102 400 1,724 575 798 514 482 2,188 500 786 (a) 121 (a) (a) 72 (a) 5 185 15 19 (a) (a) (a) 107 695 45 (a) («•) (a) (a) (a) (a) (a) 182 31 (a) (a) (a) 20 (a) 35 (a) 23 7 148 (a) (a) 120 REPORT OF THE COMMISSIONER OF LABOR. Table S.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. ITIARYJGAIV©— Continued. Locality. BALTIMORE CITY— Cont'd. Baltimore .Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore '. Baltimore Baltimore Balti more Baltimore Baltimore. - Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore B^ ltimore Baltimore Baltimore Baltimore Baltimore Baltimore : Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore - Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore- Baltimore Namo of association. City of Baltimore Permanent Building Clifton Permanent Building Columbian Building, No. 9 Colvin Mutual Building, No. 1 Concordia Loan and Savings Conway Street Building, No. 1 Crown Prince Building and Savings: David Reus Permanent Loan and Savings Druid Hill Avenue National Building, No. 2 Druid Hill Permanent Building and Savings. Druid Hill Perpetual Building Eagle Building and Savings, No. 1 Eastern Permanent Building and Lonn East Lombard Street Permanent Building and Sav- ing Society. East Monument Permanent Savings Economy Permanent Building and Loan Eden Street Permanent Building, No. 1 Emory Street Permanent Building and Loan Co., No. 1 Emory Street Permanent Building and Loan Co., No, 2 Empire Permanent Building and Savings .* Enterprise Perpetual Building and Loan Eutaw Permanent Building aud Loan .* Exchange Permanent Building and Loan Federal Hill Perpetual Building and Savings Port Avenue Permanent Building Franklin Loan and Savings Franklin Square Building and Loan, No. 8 Frederick Avenuo Building Fulton Street Permanent Building Garrett Park Permanent Building and Savings Garrison. Lane Building and Savings Gay Street Permanent Building and. Savings Insti- tution . George Schwinn Building, No. 4 German- American. Building, No. 15 , German- American Building, No. 16 ,. German- American Building, No. 17 German-American Building. No. 18 German-American Building, No. 19 -. German- American Building, No. 20 G erman Homestead : Germania Permanent Loan and Savings Globu Building and Savings, No. 1 Good Intent Savings and Loan Great Eastern Permatient Building, No. 1 Grecnmont Mutual Building Guilford Permanent Building Hamburg Loan and Savings, No. 1 Hanover Banking and Building Hanover Loan and Savings Compau v Harlem Perpetual Mutual Building ." Harmony Perpetual Loan and Savings Company Harrison Building, No. 9 " Harrison Building, No. 10 Harrison Building, No. 11 Harrison Permanent Building Henrietta Building and Savings, No. 1 Home Permanent Mutual Loan and Savings Hopkins Permanent Loan and Savings Householders' Permanent Building unci Loan Howard Loan and Savings Howard Permanent Build in g and Loan Imperial Permanent Building aud Loan, No. 1..- Independent Loan and Savings Independent Patterson Park Permanent Loan and Building. Industrial Permanent Building, No, 3 Jefferson Perpetual Building and Loan Kenrick Permanent Building La Fayette Perpetual Building Lansdowne Building and Loan Leaden hall Street Permanent Building aud Savings, No. 1. a Not reported. Date of organization. Mar. 3,1884 Oct. 1,1888 Mar. 15, 1888 Aug. 31, 1887 Feb. 3, 1881 Jan. 20, 1886 Apr. 18, 1888 Jan. 2, 1872 May 7, 1877 June 17, 1873 Dec. 2, 1884 Sept, 20, 187G - Mar. 14, 1887 Jan. 2, 1883 Jan. 17, 1870 Feb. 11, 1880 Mar. 12. 1883 Mar. 2. 1873 May 20, 1874 July 26, 1386 Sept. 12, 1877 Mav 2, 1891 Mar. 1, 1886 Oct.. 3. 1872 May 17, 1875 Juno 3. 1889 Mar. 15, 1S30 July 21, 1885 June 19. 1S74 Jan. 7, 1?91 Oct. 19, 1885 July 6, 1891 Dec. 10, 1883 Mar. 28, 1887 Mar. 5. 1888 Mar. 11. 1889 Mar. 10, 1890 Miir. 9, 1831 Mar. 28. 1892 Apr. 3, 1873 Nov. 3, 1880 July 1, 1891) Sept 11, 1888 May 18, 1883 Nov. 1, 1890 Apr. 16, 1888 Oct. 28, 1884 I<'eb. 1. 1888 Keli. 11, 1874 Nov. 6, 1836 Apr. 3. 1872 Sept 12. 1875 Apr. 3. 1882 Dec. 8, 1888 Jan. 4, 1873 Sept 14, 1888 Apr. 1, 1883 May 1, 1884 Oct. 23, 1891 Mar. 17, 1892 Nov. 11,1886 Mar. 14, 18S8 Oct. 4, 1881 Jan. 2, 1838 — . 1877 D'eb. 10. 1869 Mar. 7. 1887 Apr. 1 1888 i'eb. 5. 18B0 Apr. 30, 1889 CHAPTER I. GENERAL TABLES. 121 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MAR VL AND— Continued. Local or Permanent, termi- nating, or aerial. Shareholders. Borrow- ers. Shares in force. Mar- Keal gin- e&ta te al Male. Female. Total. her. Local Permanent 270 95 365 175 3,015 185 1 Local (a) (a) 397 80 2,671 (a) ■i Local Terminating 25 5 30 10 249 (a) 3 Local Permanent 00 9 69 35 500 (a) 4 P-ermanent 56 14 70 19 200 24 t Local. Permanent (a) (a) 151 38 1,025 43 1 Permanent (a) (a) 53 12 178 2 ' Permanent ....... 164 00 224 75 1,029 (a) t Permanent (a) (a) 160 32 874 (a) Local 179 56 235 57 2,023 57 11 Local Permanent 79 26 105 41 987 50 1 Permanent (a) , (a) 164 50 780 27 1! Local Permanent . 78 8 80 50 1,060 (a) 1. Local Permanent (a) (a) 200 125 1,035 (a) 1 Local (a) (a) 200 50 885 (a) 1 Local (a) (a) 58 8 346 (a) 1 Local Permanent 230 80 280 110 2,137 127 1 Local 242 108 350 65 925 (a) 1 Local Permanent 120 70 190 71 1,271 (a) 1 Local Permanent («) (a) 233 90 2,221 30 2 Local Permanent 63 30 99 24 850 28 2 Local Permanent (a) (a) 126 19 760 19 2 (a) (a) 187 55 2,439 (a) 2 Local Permanent 173 81 254 103 (a) 28 2 364 196 560 147 1,288 100 2 Permanent (a) (a) 213 85 1,700 90 2 Permanent ' 48 13 61 31 459 («) 2 Local . , (a) (a) 352 150 1,728 (a) 2 Local Permanent (a) (a) 112 32 525 (a) 2 Local Permanent (a) (a) 36 5 182 5 3 Local Permanent 60 18 78 12 700 (a) ■ 3 Local (a) (a) 45 21 350 (a) 3 Permanent (a) (a) 148 49 1,663 54 3 Local Terminating 253 127 380 230 1,054 (a) i Local Torminatinii; 341 168 509 251 1,401 (a) i Local Terminating 347 173 520 225 1,373 (a) 6 Local Terminating 365 182 547 206 1.851 (a) 6 Local 410 205 615 210 2.392 (a) i Local Terminating (a) (a) 1,020 180 3,084 (a) Local (a) (a) 85 32 424 (a) 4 Local Permanent (a) (a) 148 26 832 26 4 Local Permanent (a) (a) 100 27 630 27 4 Local Permanent (a) (a) 40 7 92 (a) 4 Local Permanen t 131 30 161 54 1.161 (a) 4 80 51 131 15 867 (a) 4 Local Permanent 255 21 270 32 1,069 (al 4 Local Permanent (a) (a) 70 23 228 (a) 4 Local Permanent (a) (a) 70 28 158 (a) 4 Local Permanent 104 14 118 43 955 (a) 4 Local Permanent (as) (a) 198 82 900 (a) i Permanent 530 185 715 190 4,268 (a) Local Permanent (a) (a) 130 48 1,108 (a) Local Permanent (a) (a) 292 77 2,934 98 Permanent 107 63 170 43 1.069 49 282 93 375 120 3 000 120 (a) (a) 91 35 440 (a) Local Permanent 111 47 158 26 609 - (a) Local 23 17 40 22 200 (<*> Local Permanent 17 6 23 2 96 2 Local 70 5 431 (a) Permanent 50 13 72 37 "129 37 Permanent (a) (a) 128 50 937 Local (a) (a) 1.332 672 0,310 Local Permanent 162 48 210 137 (a) 180 86 275 78 1,700 01 (a) (a) 270 103 2,536 (a) Permanent (a) W 715 141 (a) 190 (a) 60 (a) 250 62 77 24 236 351 (a) (a) (a) 75 122 REPORT OP THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. I71ASS VI AND- Continued. Locality. Name of association. Date of organization. BALTIMORE CITY— Cont'd. Baltimore ■ Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore ... Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore . /, Baltimore Baltimore Baltimore Baltimore Baltimore - Baltimore '. Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore ..... Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore , Baltimore , Baltimore Baltimore Baltimore Baltimore Baltimore Baltimore , Bight Street Building and Savings Light Street Progressive Building and Savings Linden Building and Savings Linden Permanent Loan and Savings Locust Point Building Log Cabin Perm anenf Building, No. 1 Loyola Perpetual Building McKims Hill Permanent Building Madison Square Permanent Building Maryland Savings, Loan, and Investment Company . . Mechanics' Lexington Building and Loan, No. G Mechanics' "Western Perpetual Building Society Mercantile Permanent Building Montebello Permanent Building and Loan Mount Clare Permanent Loan and Building Mutual Building and Savings Society Mutual Reserve Building National Loan and Savings Institution New Michaels Permanent Savings North Baltimore Permanent Stock and Loan North Bond Street Permanent Building and Savings Society, No. I. North Broadway Permanent Building Northeastern Loan and Savings Northeast Permanent Building ■. Northern Central Permanent Building and Loan North Gay Street Permanent Building, No. 1 North Howard Loan and Savings Institution Northwestern American -Germ an Perpetual Building. Oriole Permanent Building and Loan Orleans Street Loan and Savings Paca Building and Loan 1 Park Avenue Permanent Building and Loan Patterson Park Building Union, No. 3 Patterson Park Permanent Loan and Building Pearl Street Perpetual Savings and Building, No. 1 . . Pearl Streot Perpetual Savings and Building, No. 2 .. Pennsylvania Avenue Permanent Building and Loan, Perkins Square Building and Loan Permanent Home Building, No. 1 ■. Perpetual Building, No. 1 '. Perseverance Building and Loan Company Phoenix Perpetual Land and Building Portland Street Perpetual Building, No. 2 Portland Street Perpetual Building, No. 3 Potomac Building Preston Permanent Building and Loan Progress Loan and Savings, If o. 1 Provident Building Railroad Permanent Building Richmond Permanent Loan ami Savings Ridgely Building Riverside Building and Loan. No.l Riverside Permanent Building and Savings, No. 2 . . , Robert Enimot Perpetual Building Royal Oak Perpetual Building Saint Ignatius Perpetual Building Saint Vincent do Paul Perpetual Building and Savings. Saint "Woncelaus Building, No. 1 Saratoga Building and Loan Schroeder Street Mechanics' Building, No. 1 Scott Street Loan and Savings, No. 1 Smalhvood Streot Loan and Savings, No. 1 Socrates Building, No. 2 South Baltimore Progressive Perpetual Building and Loan. South Bond Street Bohemian Permanent Building, No. 1. South Paca Street Building, " S " South "Wolfe Street Loan and Building Spaulding Perpetual Building and Loan Spring Garden Building and Savings Standard Permanent Building and Savings a Not reported. Mar. Dec. Feb. Apr, Sept. 28, 1873 Nov. 18,1884 Aug. 29, 1887 Mar. 10,1891 Aug. 16, 1886 27. 1887 30, 1878 21,1887 10, 1882 Juno 11, 1S92 Aug. 1,1876 Apr. 13,1873 Oct. 25,1888 Sept. 7,1886 Mar. 23,1874 Mar. 12,1883 Nov. 3, 1888 Mar. 27,1889 Dec. 2, 1885 Sept. 3,1890 Oct. 1, 1879 Feb. 24, 188 L Dec. 21, 1884 May 1, 1887 May 3, 1880 Apr. 11,1887 June C, 1882 26, 1S92 7, Jan Nov. June Jan. Sept. Nov. Nov. Mar. Aug. May July 6, 1387 7, 1889 2, 1891 9. 1886 6, 1889 30, 1882 25, 1886 5,1884 , 1, 18S6 May 14,1883 — , 18G6 Mar. 1, 1873 July 27, 1891 Mar. 10,1875 Nov. 6, 1876 (a) Oct. 5, 1835 Jan. 6,1890 Nov. 1,1886 Feb. 14,1874 Sept. 22, 1890 Mar. 14,1874 7, 1876 2, 18S7 12, 1872 1,1886 5. 1887 Mar. 1C, 1891 Apr. 25,1881 June 6,1887 Mar. 3,1885 Jan. 12,1880 May 11,1888 July 19,1881 Feb. 6,1888 Apr. 25, 1882 Dec. 11,1871 Dec. 12,1885 Mar. 29,1886 Oct. 26, 1SS1 Nov. 28,1888 Mar. May Feb. Nov. May CHAPTER I. GENERAL TABLES. 123 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd, MAKITIj AND— Continued. Shareholders. Kcol estate loans. Mar- Local or national. Permanent, termi- nating, or serial. Borrow- ers. Shares in 1'orce. gin- al lum- ber. Male. Female." Total. (ffi) (a) 225 125 1,650 (a) 1 Local Permanent 33 39 16 260 (a) 2 (a) (ffi) 79 23 (ffi) (ffi) 3 (ffi) (ffi) 182 13 1,031 13 i Local 1G5 C6 231 93 983 (ffi) b Local <«) <«) 01 29 554 (ffi) 215 83 905 (ffi) 4: (a) (a) 155 63 1,007 (ffi) i' Local : . . Permanent (a) (a) 35 31 233 47 4. Local 2-12 115 357 95 2,212 95 41 Local Permanent 80 11 97 35 500 (a) 4' Local Permanent -. 601 230 837 354 9,882 401 41 Local (a) (a) 157 53 522 (ffi) 4' Local Permanent 90 41 140 14 909 (a) b Local Permanent 175 75 250 89 1,335 68 b Local Permanent.- (a) (0) 223 57 1,125 (ffi) b Local Permanent (a) (a) 357 116 1,070 (a) b Local Permanent (o) (a) 110 33 375 (ffi) b Local Permanent (ffi) (a) 277 74 3,096 74 5 Local Permanent 29 23 52 22 345 (a) b Local Permanent . . . (a) (ffi) 135 14 808 (ffi) b Permanent 110 17 127 25 651 (ffi) 5 Local Permanent 161 19 180 22 1,165 (a) b Local Permanent 83 23 106 33 561 (ffi) 6 Local Permanent (a) (ffi) 247 70 1,415 87 6 156 37 103 72 1,206 (ffi) 6 Local Pennau ent- - (a) «t) 143 71 1,102 (ffi) 6 Local Permanent 220 52 272 63 1,958 03 6 Local Permanent 112 8 123 120 520 (B) 6 258 110 374 05 2,821 (ffi) 6 (ffi) (ffi) 161 53 933 (a) 6 Local Permanent 275 148 423 107 4,009 (ffi) G (ffi) (a) 154 (ffi) (ffi) Local Permanent — <«> (a) 118 32 1,164 (a) 7 124 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. I?IARVIiAIVI> -Continued. BALTIMORE CITY— CODC'cl. Ealtimoro -. Baltimore. Baltimore. Baltimore. Baltimore. Baltimore. Baltimore. Baltimore. Baltimore. Baltimore . Baltimore. Baltimore.' Baltimore. Baltimore. Baltimore. Baltimore. Baltimore. Baltimore. Baltimore. Baltimore. BALTIMORE COUNTY. Arlington Bradsnaw .. . - Carny Carny Catonsville Catonsville Cockcvsville Fork Fullerton Fullerton Glyndon Go vans town Granite Granite Mount "Washington . . Mount Winans Reisterstown Koaedulo Saint Denis Towson Whito Marsh CARROLL COUNTY. Sykesvillo FREDERICK COUNTY. Frederick. Frederick. HARFORD COUNTY. Bel Air Havre dc Grace. HOWARD COUNTY. Alberton Ellieott City. KENT COUNTY. Chestertown Millington MONTGOMERY COUNTY. Gaithersbnrg Garrett Park Kockville Name of association. Sycamore Permanent Building and Savings Society, No. 1. Traders' and Mechanics' Permanent Savings Uncle Sam Loan and Savings Company Unequal Perpetual Building Union Park Loan and Savings ' Walbrook Park Permanent Building ; "Washington Loan and Savings, No. 1 . .7 Waverly Building Wells and McComas Building and Loan West Baltimore Permanent Mutual Building West Columbia Building, No. 9 West End Savings, Loan, and Building Western Maryland Permanent Building and Loan.. Western Permanent Loan and Building West Pratt Street Loan and Savings Weyler Street Building and Banking, No. 1 William Keller Building William Street Permanent Loan and Savings Winans Permanent Land and Loan Company Workingmen'e Union Permanent Building and Sav- ings, No. 1. Arlington Loan and Savings Gunpowder Permanent Building " Carny Permanent Savings and Loan Germantown Permanent Building, N o. 2 Catonsville Loan and Savings Catonsville Permanent Building and Loan Cockeysville Permanent Building and Savings Pork Permanent Land and Building Fuller-ton Permanent Loan Putty Hill Permanent Loan Glyndon Permanent Building Govanstown Land, Loan, and Building Mutual Building, No. 1 ". Mutual Building, No. 2 Mount Washington Permanent Building and Loan. Mount Winans Building. Loan, and Savings Franklin Permanent Building Rosedalo Building, No. 1 Patapsco Building and Loan Home PermanentMntual Land and Building Cowcnton Permanent Building, No. 1 -Sykesvillo Perpetual Building Homestead Building. Mutual Building Harford County Permanent Building. Home Buiiding Alberton Land and Loan Elliott City Land at< (a) (a) 120 4 23 («) (a) (a) (a) (a) «i) (a) (a) («) «i> (a) (a) (a) W (til 77 (a) 100 404 208 270 70 518 685 250 125 329 25 129 193 00 90 127 80 232 129 134 69 98 160 173 71 102 130 109 30 130 124 51 71 61 108 180 04 58 80 130 Borrow- ers. 87 236 218 147 190 53 150 301 04 24 255 72 110 10 35:: (a) 70 39 105 12 19 23 50 45 30 52 140 48 Shares in force. 27 137 34 6,972 SCO 1,050 1,355 430 594 2. 806 3,424 1,193 1,669 2,510 92 782 1,975 250 1,684 849 042 1,624 527 1,269 119 215 528 1.185 527 813 318 203 95 500 610 321 414 292 545 762 61 508 542 371 1,981 2,010 985 871 283 750 1,557 359 335 230 377 Ecal estato loans. (a) (a) (a) (o) (a) (a! 60 (a) 95 (a) (a) (a) 19 (a) (a) (a) («) (a) (a) 24 (a) {a) (a) (a) (a) 8 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (aj (a) (a) (a) 126 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MABVLAIVD- Conclude.!. Mar- gin- al Locality. Name of association. Date of organization. bcr. PRINCE GEORGE COUNTY. Fob. Apr. 5,1887 20, 1874 17, 1868 TALEOT COUNTY, 4 5 ■WorMmgmen's Building and Loan Apr, Apr, 1, 1870 24, 1872 •WASHINGTON COUNTY. Middle States Loan, Building, and Construction Company. Oct. Oct. 24, 1890 1, 1891 8 WICOMICO COUNTY. Salisbury "WORCESTER, COUNTY. Snow Hill May 1, 1801 MASSACHUSETTS. BARNSTABLE COUNTY Sandwich BERKSHIRE COUNTY.. Great Barrington North Adams Pittsliekl BRISTOL COUNTY. Attleboro — Fall Kiver Fall Kiver Fall River Mansfield New Bedford New Bedford Nortb Attleboro North Dighton North Easton Taunton Taunton Taunton ESSEX COUNTY. Amcsbnry Beverly Dan vers Gloucester Haverhill Haverbill Lawrence Lawrence Lawrence Lynn Lynn Marblebcad Merrimac Newbury port Peabody Salom Sandwich Cooperative Bank Housatonic Cooperative Bank Berkshire County Cooperative Bank Pittsfield Cooperative Bank Attleboro Savings and Loan Fall River Cooperative Bank People's Cooperative Bank Troy Cooperative Bank Mansfield Cooperative Bank Acushnet Cooperative Bank New Bedford Cooperative Bank Plainville Savings and Loan North Dighton Cooperative Bank ... North Easton Cooperative Bank Mechanics 1 Cooperative Bank , Taunton Cooperative Bank "Weir Cooperative Bank , Amesbury Cooperative Bank , Beverly Cooperative Bank Danvers Cooperative Bank Gloucester Cooperative Bank Citizens' Cooperative Bank Haverhill Cooperative Bank Atlantic Cooperative Bank Lawrenco Cooperative Bank Merrimac Cooperative Bank Equitable Cooperative Bank Lynn Cooperative Bank Marblebead Cooperative Bank Economy Cooperative Bank Nowbaryport Cooperative Bank Peabody Cooperative Bank Salem Cooperative Bank a Not reported. Aug. 11, 1SS3 Juno 3, 1880 Nov. 19,1890 Jan. 31,1889 Jan. Nov. Feb. Juno Feb. Nov. July Feb. Mar. Apr. Sept. Feb. July 1, 1876 26. 1888 18. 1882 15, 1880 22. 1883 12. 1889 8, 18S1 5, 1880 18, 1800 17,1889 14, 1877 20, 1880 11. 1884 Apr. Aug. Aug. Feb. Aug. Aug. Mar. Mar. Mar. Oct. Nov. Apr. July Mar. May Mar. 10. 1886 14 J 888 29, 1892 3. 1887 22. 1887 13, 1877 19, 1891 12, 1S88 21,1802 1,1877 1,5891 29, 1880 26, 1889 6. 1888 12. 1888 16, 1888 CHAPTER I. — GENERAL TABLES. 127 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. M.A R V I, AN » -Coittkuletl . Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in ibreo. Peal cstato loans. Mar- gin- al num- ber. Male. Female. Total. Local -. Local Local Local Local National National Local Permanent Permanent--- Permanent Permanent (a) 55 (a) (a) 57 12 (a) (a) (a) 111 (a) 41 (a) (a) 33 3 (0) (a) (a) 7 221 "so 373 374 30 15 3,407 1,081 552 118 51 31 160 200 15 9 228 43 259 34 1,905 370 3,533 2,800 437 54 15, C99 5,460 2,580 436 (a) (a) (a) (a) W (a) 237 47 (a) 22 1 2 3 4 5 6 7 8 Permanent 9 10 MASSACHUSETTS. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local ., Local Local Local Local Local Local Local 49 43 66 (a) (a) 360 (a) 717 28S 246 474 210 97 (a) 742 920 2S9 210 2-1-1 (a) 307 90 713 117 (a) (a) 588 86 178 100 (a) (it) 561 22 29 14 (a) (ffi) 149 (a) 342 1-84 86 235 149 29 («) 452 149 164 58 133 (a) 122 lis 850 33 (a) (a) 294 22 106 40 (a) (a) 289 71 , 72 80 553 1,500 503 536 1,053 478 332 709 359 126 259 1,194 1,009 453 268 377 205 429 294 1,069 150 993 CO 832 108 344 140 449 347 -850 28 21 12 49 75 71 110 199 183 63 252 77 16 50 377 178 149 70 01 9 09 49 229 13 87 3 193 10 55 27 121 62 132 225 354 570 3,395 1,825 4,696 4,127 7,384 3,387 2,376 5,194 1,329 685 1,408 9,347 6,234 3,418 1, 710 1,903 1,250 2,350 . 2,272 7,687 904 3,744 544 0,523 871 1,409 858 3,023 2, 187 4,850 30 10 7 43 178 69 103 151 130 37 179 38 15 40 339 18 122 51 56 15 73 44 213 18 67 7 (a) 4 48 20 (O) 75 132 11 1? 13 14 15 Serial Serial Serial 16 17 18 19 20 9:1 22 S3 ?4 ?,o ?,fi Serial 27 28 Serial ?,9 30 31 3? 33 34 Serial 35 30 Serial 37 38 38 40 Serial 41 42 Serial 43 128 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATION'S— Cont'd. MASSACHUSETTS— Continued. Locality. Xaine of association. Date of organization. FRANKLIN COUNTY. Orange HAMPDEN COUNTY. Holyoko Holyoke Springfield Westtield HAMPSHIRE COUNTY. Northampton . .. MIDDLESEX COUNTY. Arlington Cambridge Cambridge East Cambridge Everett Hudson Lowell Maiden Marlboro Medford Melrose Natick Newton Reading Somervillo South Framingham.-. Stouehani "Wakefield Walt-ham Watertown West Newton West Somerville Woburn NORFOLK COUNTY. Canton Dedham Foxboro Franklin Holbrook Hyde Park Needham Norwood Quincy Quincy Randolph South Braintree South Weymouth Stoughton Weymouth PLYMOUTH COUNTY. Brockton Brockton Hingham Middleboro North Abington Plymouth Whitman SUFFOLK COUNTY. Boston Boston Boston Boston Orange Cooperative Bank City Cooperative Bank Holyoke Cooperative Bank Springfield Cooperative Bank Westtield Cooperative Bank Northampton Cooperative Bank Arlington Cooperative Bank Columbian Cooperative Bank Reliance Cooperative Bank Cambridge Cooperative Bank Everett Cooperative Bank Hudson Cooperative Bank Lowell Cooperative Bank Maiden Cooperative Bank Marlboro Cooperative Bank Medford Cooperative Ban k Melrose Cooperative Bank Henry Wilson Cooperative Bank Newton Cooperative Bank Reading Cooperative Bank Somervillo Cooperative Bank South Framingham Cooperative Bank Stoneham Cooperative Bank Wakefield Cooperative Bank Waltham Cooperative Bank Watertown Cooperative Bank West Newton Cooperative Bank WestSotcerville Cooperative Bank... Woburn Cooperatives Bank Canton Cooperative Bank Dedham Cooperative Bank Foxboro Cooperative Bank Dean Cooperati ve Bank Holbrook Cooperative Bank Hyde Park Cooperative Bank Needham Cooperative Bank Norwood Cooperative Bank Quincy Cooperative Bank Wollaston Cooperative Bank Randolph Cooperative Bank Braintree Cooperative Bank South Weymouth Cooperative Bank.. Stoughton Cooperative Bank South Shoi'u Cooperative Bank Campcllo Cooperative Bank Security Cooperative Bank Hinghani Cooperative Bank Midnlcbe>ro Cooperative Bank North Abingtem Cooperative Bank... Plymouth Cooperative Bank Whitman Cooperative Bank A llston Cooperative Bank Boston Cooperative Bank Dorchester Cooperative Bank Enterprise Cooperative Bank a Not reported. Dec. 31,1888 July 1, 1880 June 28,1880 Mar. 24, 1882 Dec. 10,1881 Mar. 20,1889 Oct. 17,1889 May 6, 1892 July 10, 1889 Sept. 5,1877 Sept. 18, 1890 Sept. 17, 1885 Apr. 23, 1885 Apr. 27,1887 Apr. 11,1890 June 5,1886 Mar. 28, 1890 Sept. 24,1886 Juno 12, 18S8 Nov. 22, 1886 Apr. 29, 1880 Apr. 8,1889 Jan. 5, 1887 Jan. 19,1887 Sept. 25, 1880 June 5,1888 June 16, 1892 Nov. 29,1890 Feb. 10,3887 Dec. 30,1890 Feb. 11,1886 Fob. 12,1889 July 2,1889 May 31,1888 Mar. 17,1886 Apr. 21,1802 Sept. 20, 1889 Apr. 3, 1880 Mar. 30, 1889 Jan. 23,1889 June 6,1889 Feb. 9, 1889 Mar. 6, 1886 Apr. 18,1890 Sept. 21, 1877 Nov. 27,1877 May 28,1889 Apr. 12, 1889 Mar. 23.1888 June 7.1882 Feb. 25, 1889 Mar. 29,1887 Apr. 30,1888 Sept. 10, 1890 Apr. 3, 1888 CHAPTER I. GENERAL TABLES. 129 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. MASSACHUSETTS— Continued. Local or national. Permanent, termi- nating, or Berial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num- ber. Male. Female. Total. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Serial (a) 161 310 638 (a) 247 149 (a) (a) (re) 111 291 409 346 271 303 (a) (re) (a) 320 032 415 232 324 (a) (a) (a) 155 (a) 138 81 127 (a) 119 (a) (a) (a) 193 192 161 (a) (a) 280 (a) (a) (re) (a) 285 (a) 83 (a) 416 (a) (a) 369 (o) 86 200 222 (re) 115 51 (a) (a) (a) 37 160 112 149 134 175 (a) (re) (re) 155 290 92 145 245 (a) (a) (a) 59 (a) 45 60 38 (a) 44 (a) ia) (re) 108 117 75 (a) (a) 137 (re) (re) (re) (a) 149 (a) 47 (re) 201 (a) (a) 105 230 247 510 800 487 362 200 232 812 133 148 451 521 495 405 478 130 389 717 475 922 507 377 569 2,334 377 89 214 434 183 141 165 102 163 493 89 191 306 309 236 114 180 417 159 981 739 282 434 210 130 226 617 553 254 474 58 56 106 148 212 41 22 9 35 39 7 91 141 137 31 95 10 58 76 110 143 45 67 108 505 60 5 12 418 12 34 17 12 38 77 3 37 39 35 36 28 37 184 14 218 379 37 38 40 45 38 94 70 12 90 1,492 1,231 3,275 6,813 ' 3, 022 1,671 1,302 1,389 2, 149 771 1,181 3,129 4,089 3,612 2,296 S,958 947 2,598 5,029 3,109 7,897 2,221 2, 254 3,542 15, 398 3, 394 552 1.558 2,725 1, 205 628 792 458 787 3,477 458 1,167 1,800 2,145 1,077 698 826 2,922 792 8,604 5,868 1,759 1,855 973 548 1,238 6,176 3,991 1,996 4,676 39 26 214 108 147 47 26 9 25 32 15 70 99 85 34 98 10 65 95 115 177 52 63 88 445 42 3 8 95 15 19 17 9 29 62 5 37 39 30 33 17 29 105 11 226 215 41 47 43 39 34 57 48 12 87 1 f, 3 4- 5 Serial fi 7 8 9 10 11 Serial IS 13 14 15 1(1 17 IS 19 ?« 21 22 23 24 25 26 27 28 25 3ft 31 3? 33 34 35 36 Serial 37 38 3! 40 41 Serial 4? 4; 4< 45 4(1 47 48 49 6( b; 52 53 51 Serial 56 H. Ex. 209- 130 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MASSACHUSETTS— Concluded. Locality. Kaiue of association. Bate of organization. SUFFOLK COUNTY— COnc'd Boston Boston Boston Boston Boston Boston Boston Boston Boston Boston Boston Boston WORCESTER COUNTY. Athol Baldwinsville Clinton Fitchburg Fitchburg Gardner Grafton Leominster Milford Spencer Webster Winchendon "Worcester Worcester Worcester Federal Cooperative Bank Gerniania Cooperative Bank Guardian Cooperative Bank Homestead Cooperative Bank — Merchants' Cooperative Bank Pioneer Cooperative Bank ... Provident Cooperative Bank Hoxbury Cooperative Bank Suffolk Cooperative Bank Volunteer Cooperative Bank West Soxbury Cooperative Bank Workingmen's Cooperative Bank Atliol Cooperative Bank Baldwinsville Cooperative Bank. Clinton Cooperative Bank Fidelity Cooperative Bank Fitchburg "Cooperative Bank Gardner Cooperative Bank Grafton Cooperative Bank Leominster Cooperative Bank . . . Milford Cooperative Bank Spencer Cooperative Bank Webster Cooperative Bank Winchendon Cooperative Bank.. Equity Cooperative Bank Home Cooperative Bank Worcester Cooperative Bank Feb. Sept. July Sept. Dec. July Sept. Oet. Jan. Jan. Feb. May 6, 1890 8. 1885 2. 1886 11. 1877 2, 1881 2,1877 21, 1885 31, 1889 1,1886 18, 1888 1, 1881 28, 1880 June 24, 1889 July 10,1889 Sept. 15, 1887 Apr. 23, 1888 Oct. 27,1877 Mar. 12,1889 Sept. 29, 1887 Apr. 26,1888 Mar. 31,1887 June 8,1889 July 11,1889 Aug. 28, 1891 Feb. 9, 1887 June 10, 1882 Oct. 19,1877 MICHIGAN. ALPENA COUNTY. Alpena BARRY COUNTY. Hastings BAY COUNTY. Bay City Bay City West Bay City BERRIEN COUNTY. Benton Harbor Buchanan Niles Niles Niles Saint Joseph Three Oaks CALHOUN COUNTY. Albion Battle Creek , Battle Creek CHIPPEWA COUNTY. Sault de Sainte Marie CLINTON COUNTY. Saint John's Alpena Loan and Building . . . Hastings Building and Loan . Mutual Building and Loan Savings Building and Loan West Bay City Building, Loan, and Savings . Benton Harbor Building and Loan Buchanan Building, Loan, and Savings . Cooperative Savings. Mar. —,1888 Apr. 1, 1890 Apr. Sept. June 14. 1890 22, 1887 12. 1891 Niles Building and Loan | June Saint Joseph v alley Building and Loan Saint Joseph Building , Industrial Building and Loan Deo. 13,1888 June — , 1888 &Mar. Homestead Loan and Building. . . Battle Creek Loan and Building. Home Savings and Loan Soo Mutual Building and Loan . Saint John's Building and Loan . a Not reported. Juue Mai;. Juue July Nov. May 16, 1885 1, 1891 — , 1887 31, 1890 — , 1888 29. 1889 28, 1887 30. 1890 July 2-1,1888 Jan. 0, 1890 CHAPTER I. GENERAL TABLES. 131 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. MASSACHUSETTS— Concluded. "Local or national. Permanent, termi- nating, or aerial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num- ber. Male. Female. Total. Local Local Local Local Local Local' Local Local Local Loeal Local Local Local Local Looal Local Local Local Local Local Local Local Local Local Seri.il (a) (a) 429 570 1,188 639 (a) (a) W (a) 317 (a) 128 83 (a) (a) (a) 283 (a) (a) 387 (a) 117 186 379 628 733 (a) (a) 316 306 396 352 (a) (a) (a) (a) 140 (a) 58 10 (a) (a) (a) 103 (a) (a) 163 (a) 10 46 149 260 352 153 578 745 876 1,584 991 847 190 122 541 457 1,486 186 93 458 593 1,564 386 169 319 550 130 127 232 528 888 1,085 16 96 112 223 323 218 137 11 26 91 124 304 58 19 91 184 562 68 37 39 189 31 23 7 121 264 240 875 4,446 5, 259 6,594 14, 089 6,441 5,129 1,547 673 4,237 3,863 12,155 1,110 455 2,942 5,155 10, 717 1,844 1,114 1,861 3,335 800 780 920 4,783 8,231 9,186 7 70 105 202 294 201 118 7 17 70 63 311 37 13 76 122 549 66 25 38 123 21 19 6 113 209 240 1 2 3 4 5 6 7 8 9 Serial 10 Serial 11 12 13 14 15 16 17 18 19 20 HI n 23 24 25 26 27 JIICHIGAN. Local Local Local Local Local Local - Local Local Local Local Local Local 350 105 327 492 (a) 78 78 41 111 125 98 62 320 328 147 366: 135 125 18 110 219 (a) - 23 17 26 48 36 23 34 95 57 45 76 41 475 123 437 711 528 101 95 67 159 161 121 96 415 385 192 4*2 176 128 38 128 218 184 29 48 46 35 81 41 37 146 127 62 121 66 4,506 947 4,438 7,393 1,801 771 621 544 1,443 1,352 859 ■ 721 2,140 2,633 1,224 7, 834 847 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) . (a) (a) (a) (a) (a) ?8 29 30 31 Permanent Permanent Terminating Terminating Terminating Terminating Serial - 32 33 34 35 36 37 38 39 40 41 42 43 44 b Date of incorporation. 132 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd* MICHIGAN— Continued. Locality. Name of association. Date of organization, DICKINSON COUNTY". Iron Mountain . Norway EMMET COUNTY, Petoskey GENESEE COUNTY. Flint . Flint . GRAND TRAVERSE COUNTY. Traverse City . Traverse City . GRATIOT COUNTY. Alma; Ashley . . . Perrinton . HOUGHTON COUNTY. Hancock INGHAM COUNTY. Lansing . Lansing . IOSCO COUNTY. East Taw as . East Tawas . JACKSON COUNTY. Jackson Jackson . Jackson . Jackson . Jackson . Jackson . Jackson . Jackson . KALAMAZOO COUNTY. Kalamazoo KENT COUNTY. Grand Rapids , Grand Rapids . Grand Rapids . Grand Rapids . Grand Rapids . Grand Rapids . Grand Rapids . Lowell LENAWEE COUNTY. Adrian MANISTEE COUNTY. Manistee Iron Mountain Building and Loan . Norway Savings and Loan Petoskey Permanent Savings, Loan, and Building. Citizens' Building and Loan Equitable Savings and Loan Traverse Bay Building and Loan Traverse City Building and Loan Alma Building and Loan Ashley Building and Loan Perrinton Building and Loan Northern Michigan Building and Loan Capital Investment Building and Loan Union Building and Loan East Tawas Building and Loan Iosco Savings and Loan American Building and Loan Excelsior Building and Loan Germama Building and Loan, No. 4 Independent Building and Loan •. Jackson Building and Loan Laboringmen's Building and Loan, No. 2 New Michigan Building and Loan Peninsular Building and Loan * Kalamazoo Building and Savings Grand Rapids Loan, Building, and Homestead Grand Rapids Mutual Building and Loan Holland Building and Loan Mutual Home and Savings Peninsular Building and Loan Valley City Building and Loan "West Side Bi\ilding and Loan Lowell Building and Loan Adrian Building and Loan Manistee Building and Loan aNot reported. July — . 1890 Sept. 10, 1890 Juno 1, 1891 June 14, 1887 &July 8, 1889 May —,1892 May —,1884 June 6, 1887 Nov. 30, 1887 Apr. 17,1889 Jan. 22,] Mar. 12,1890 June 2, 1886 June 27, 1888 June — , 1890 Sept. Nov. Sept. Nov. June Oct, Oct. Sept. 2. 1889 17, 1887 17, 1890 19, 1887 16. 1890 2. 1890 23. 1891 5. 1891 Mar. 1, 1886 May —,1886 Mar. 1, 1888 Mar. —,1888 Bee. —,1888 June 3, 18»9 Oct, 7, 1887 Nov. —.1887 Apr. 18,1888 July 18,1889 oMar. 13, 1888 CHAPTER I. GENERAL TABLES. 133 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MICHIGAN— Continued. Local or national.. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num- ber. Male. Female. Total. Permanent Permanent 110 165 7 13 117 178 34 40 1,331 1,456 (a) (a) 1 2 Permanent 17 48 65 17 406 (a) 3 Local (a) 115 (a) 35 306 150 119 85 3,420 1,550 (a) (a) 4 5 (a) 50 (a) 16 61 66 8 63 397 681 (a) (a) 6 Terminating 7 Local Local 95 (a) 23 59 (a) 11 154 21 34 68 15 24 1,130 153 574 (a) (a) (a) R 9 10 310 1,325 254 12, 745 (a) 11 National Local 3,118 (a) 795 (a) 3,913 456 561 155 23, 483 3,704 (a) (a) 12 Permanent 13 (a) (a) (a) (a) 154 206 91 65 450 593 (a) (a) 14 15 Local Local Local Local Local Local (a) 240 (a) 58 122 (a) (a) (a) (a) 175 (a) 52 26 (a) (a) (a) 227 415 143 110 148 164 298 222 54 155 63 70 31 24 54 24 1,542 3,112 1,190 519 758 997 2,078 1,422 (a) (a) (.a) (a) (a) ia) (a) 22 16 IV Terminating 18 19 20 21 Permanent 22 23 665 129 794 385 3,968 (a) 24 Local Local Terminating 32 195 305 475 171' 174 350 (a) 10 85 33 115 31 74 85 (a) 42 280 338 590 202 248 435 112 34 110 71 185 43 112 190 48 517 3,676 1,438 6,800 1,590 2,811 1,834 925 24 97 (a) (a) (a) (a) (a) (a) 25 2C 2' Permanent 2t 2£ 31 3 31 357 184 541 161 3,700 157 3; Local 185 72 257 , 368 020 2,265 1,241 (a) 5,714 20, 150 63, 651 801 Real estate loans. Mar- gin- al num- her. (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a, MliMVESOTA. Local . Local . Local . Local Serial Permanent. Serial . Serial . 208 77 85 252 81 33 -230 130 5, 266J (a) 1,806 1,599 788 (a) (a) (a) 136 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IM I WIVE SOT A— Continued. Locality^ FARIBAULT COUNTY. Blue Earth City Elmore Wells "Winnebago City , FREEBORN COUNTY. Albert Lea GOODHUE COUNTY. Red Wing HENNEPIN COUNTY. Minneapolis Minneapolis Minneapolis Minneapolis Minneapolis Minneapolis Minneapolis Minneapolis Minneapolis Minneapolis Minneapolis Minneapolis- Minneapolis Minneapolis Minneapolis , Minneapolis Minneapolis Minneapolis Minneapolis Minneapolis JACKSON COUNTY. Jackson MARTIN COUNTY. Fairmont MORRISON COUNTY. Little .Falls MOWER COUNTY, Austin OLMSTED COUNTY. Rochester OTTERTAIL COUNTY. Fergus Falls POLK COUNTY. Crookaton RAMSEY COUNTY. Saint Paul Saint Paul Saint Paul '. ... Saint Paul Saint Paul Saint Paul Saint Paul Name of association. Blue Earth City Building and Loan Elmore Building and Loan Wells Mutual Building and Loan Winnebago City Building and Loan Albert Lea Building and Loan Bed Wing Building American Savings and Loan Central Building aud Loan East Side Building and Loan Guaranty Savings and Loan Hennepin County Catholic Building and Loan Home Savings and Loan Interstate Savings and Loan Mechanics and Workingmen's Loan and Building Minneapolis Mutual Benefit Building and Loan Minneapolis Savings and Loan Minnesota Savings Fund and Investment Company.. National Savings and Loan North Side Building and Loan Northwestern Loan and Building People's Savings and Loan Pioneer Savings and Loan , Railway Building and Loan Security Savings and Loan South Minneapolis Building and Loan Turners' Building Jackson Building and Loan Fairmont Building and Loan Little Falls Building and Loan Austin Building and Loan ft Rochester Building and Loan Fergus Falls Building Workingmen's Building and Loan Capital Building Society City of Saint Paul Building Society Columbia Building^and Loan Society Continental Savings, Loan, and Building pompany . . . Dayton's Bluff Building* East Seventh Street Building Society Fort Street Building a Not reported. Bate of organization. Apr. 1,1887 May —,1888 Mar. —.1892 May —,1888 Feb. -,1887 Apr. —,1877 Apr. 15, 1887 Mar. — , 1885 Aug. — , 1886 "Dec. — , 18b8 Aug. 20, 1874 July 1, 1888 JuDe 11, 1888 Sept — , 1874 Juno 24 1874 June 15, 1891 Jan. 23, 1889 Jan. 14, 1889 Sept. 10, 1881 Nov. 15, 1888 Jan. -,1889 Jan. 1, 1888 '.Dec. 29, 1888 A pr. 29, 1887 Feb. — 1885 Oct. — , 1877 May 20, 1892 Mar. -,1891 Oct. — , 1891 Mar. — , 1887 Juno — , 1887 Mar. 1, 1882 Oct. — , 1882 Dec. 17,1877 Oct. 17,1882 Nov. — , 1880 Mar. 16, 1888 May 15,1885 Apr. 10,1883 &Fel>. 5, j 884 CHAPTER I. GENERAL TABLES. 137 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. MI IV NESOT A— Continued. Shareholder 3. Mar- Local or national. Permanent, termi- nating, or serial. Borrow- ers. Shares in force. estate loans. gin- al num- ber. Male. Female. Total. Local Local 127 41 81 68 73 1 18 35 200 42 99 103 85 19 17 47 1,531 238 808 741 (a) la) <«) (a) 1 2 3 4 135 40 175 52 3,027 (a) 5 131 19 100 125 831 (a) 6 National Local ...... National National National Local Local National.... National..-^ National National National National National Local (a) Gfi 88 2,078 575 (a) (a) 553 (a) 837 SU4 91 (a) <«■) 1,150 (a) 4,017 (a) 112 90 (a) 14 11 409 260 (a) (a) 49 la) 139 310 20 (a) (a) 300 (a) 573 (a) 10 21 (a) 80 99 2.487 835 4,362 1,933 602 136 976 1,174 111 40 1,988 1,450 (a) 4,590 8,754 122 111 (a) 24 20 408 228 763 508 200 62 243 435 26 14 159 115 (a) 346 1,385 38 24 73, 882 2,150 2,136 21, 792 6,969 35, 288 16, 895 4,699 1,384 4,961 11, 412 1,377 806 9,941 7,494 30, 379 28, 432 02, 127 2,842 1,690 (a) (a) (a) (a) 304 (a) (a) (a) (a) (a) («) (a) (a) (a) (a) («) <«) {a) (a) (a) 7 8 Permanent 10 11 Permanent 12 13 14 Serial 15 Permanent Permanent Permanent 16 17 18 19 Permanent Permanent 20 21 22 Permanent 23 24 25 26 87 6 93 10 430 (a) 27 Serial 124 29 153 34 864 (a) 28 108 13 121 9 1,449 (a) ?9 Serial 149 29 178 110 3,433 (a) 30 Local 97 9 106 42 530 (a) 31 Serial 140 33 173 89 5, 453 (a) 31 120 44 164 36 1,020 (a) 33 Local National Local (a) (a) 106 931 69 125 103 (a) (a) 40 105 20 35 25 140 36 140 1,036 80 160 1 128 35 13 53 120 18 18 59 3,706 776 3,789 6,127 2,777 4,120 3,007 (a) (a) (a) (a) (a> (a) (a) 34 3fc 3t 3' 3t St 41 b Date of incorporation. 138 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MINNESOTA— Concluded. Mar- gin- al nam ber. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 IS 17 18 10 20 21 22 23 2-1 25 26 27 28 29 30 31 32 33 37 Locality. HAMSEY COUNTY — COnc'd. Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Paul. Paul. Paul- Paul. Paul. Paul. Paul. Paul. Paul. Paul. Paul. Paul. Paul. Paul. Paul. Paul.. Paul.. Paul. . Paul.. Paul. . Paul.. Paul. . Paul. . Paul. . Paul.. Paul. . Paul.. Paul. . Paul. . Paul . . Paul.. Paul.. Paul- . ItlCE COUNTY. Name of association. Franklin Building Society German-American Building Germania Loan and Building Globe -Building and Loan Society Interocean Building Lafayette Building. Minnehaha Street Building Minnesota Savings and Loan Society Mutual Benefit Building and Loan Rational Building and Loan Society North American Savings, Loan, andBuilding Company NorthernPacificCooperativeBuildingand Loan Society North Star Building Society ._. Polish- American Building and Loan Railway Loan ". Real Estate and Building Society Rice Street Building Society Saint Paul Mutual Building, No. 1 Saint Paul Savings and Loan Saint Paul "Workmgmen's Building Society Savings Building Society Scandinavian- American Building Society .. Seven Corners Building Seventh Street Building South Saint Paul Loan and Building Spring Park Building State Building. Tradesmen's Building and Loan Society. Union Building Society United States Savings and Loan Company. . West Saint Paul Building West Side Loan and Building Workingmen's Building and Loan Society-. Faribault Faribault Mutual Loan and Building . Northneld Northfield Building and Loan SAINT LOUiS COUNTY. Duluth Duluth Duluth Duluth Duluth Duluth Duluth Duluth Duluth West Duluth . STEAENS COUNTV. Saint Cloud.. Saint Cloud.. Sauk Center. Climax Building and Loan Cooperative Building-Loan Duluth Building and Loan Homestead Building and Loan . . . Ohio Building, Savings, and Loan. Scandia Building and Loan Union Building and Loan West End Building and Loan Zenith Building and Loan West Duluth Building and Loan . WABASHA COUNTY. Wabasha WASHINGTON COUNTY. Stillwater . Stillwater . WINONA COUNTY. Winona Winona Central Minnesota Loan andBuilding Saint Cloud Mutual Building, Loan, and Savings Sauk CeuterMutual Building, Loan, and Savings Fund Wabasha Building and Loan Saint Croix Savings and Loan . Stillwater Building Fidelity Building, Loan, aud Savings. Winona Building and Loan Date of organization. Nov. — , 1876 Mar. 26,1885 Apr. 20,1885 June — , 1887 Feb. —,1889 Mar. 18,1884 Feb. 23,1888 Sept. 15, 1884 Nov. 26,1890 Feb. 24,1883 Mar. 19,1889 Mar. 4, 1885 Dec. 1, 1876 June 19, 1888 Dec. 26,1879 May — , 1880 Nov. 11,1882 Aug. 28, 1869 Aug. 1,1888 Apr. — , 1870 Apr. 29, 1882 Jan. 17,1888 Aug. — , 1884 Apr. 28, 1885 Feb. —,1888 June 22, 1888 Apr. 4,1878 Dec. —,1886 Nov. — , 1889 May 28,1888 Sept. 19, 1874 Aug. — , 1887 May 4, 1880 Dec. 1,1874 Mar. 28, 1883 July .Feb. Mar. Feb. Nov. Jan. Aug. Oct. May June 25, 1892 15, 1892 30, 1882 3, 1886 22, 1892 1, 1888 15, 1887 15. 1887 14. 1888 17. 1889 Apr. 23,1891 June—, 1882 May 1,1882 June 1, 1883 Apr. 30,1885 Mar. 31,1877 Apr. —,1891 June 27, 1882 a Not reported. CHAPTER I. — GENERAL TABLES. 139 Table I NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MINNESOTA— Concluded. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num. ber. Male. Female. Total. Local Local Local Local Local Local National Local Local Local Local National Local Local Local Local Local National Local Local Local Local .Local Local Local JLocal Local Local Local Local Local Local Local Local Local (a) 154 (a) 46 (a) 70 (a) («) (a) 84 1,547 (a) 84 3 (a) 62 148 369 484 (a) 95 (a) 96 73 55 (a) 77 58 52 3,880 (a) 49 («) 127 94 (a) (a) (a) 142 (a) (a) 161 35 114 24 73 162 30 111 103 84 119 266 (a) 30 (a) 12 (a) 12 (a) (a) '{"> 22 254 (a) 20 64 (a). 29 26 113 84 (a) 51 (a) 33 16 9 (a) 24 5 16 737 (a) 9 (a) 22 23 (a) (a) (a) 48 (a) (a) 43 7 32 176 184 80 58 103 82 34 122 75 106 1, 801 194 104 67 67 91 174 482 568 140 146 KlO 129 89 64 117 101 63 68 4,623 202 58 152 149 117 48 115 389 190 79 144 204 42 146 24 86 218 35 127 140 100 133 312 79 47 30 19 56 28 9 30 15 27 220 79 37 30 35 46 80 (a) 48 48 32 23 54 31 13 24 45 17 19 684 46 13 83 63 58 7 13 120 60 4 41 109 16 77 3 18 114 15 114 86 51 19 214 4,858 4, 649 1, 682 8,375 1,835 1,874 707 3,086 1,755 2,928 18. 393 3,952 2,538 1,179 2,059 1,951 4,491 3,948 4,889 3, 464 3,838 2,097 3,012 2,426 1,786 2,528 2,309 1,724 1,317 59, 784 1,138 1, 093 3,418 602 726 695 1,126 3,041 1,662 674 583 2,395 386 24, 651 774 625 1,289 64 595 2,288 1,782 1,611 2,125 52 la) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 45 80 (a) (.a) (a) 32 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 86 (a) (a) (a) (a) (a) (a) (a) (a) (a) 1 Serial 2 3 4 5 6 7 Serial 8 9 10 11 12 13 14 15 16 Serial 17 Permanent 18 19 20 21 22 Serial 23 24 25 26 27 2S 29 30 31 32 33 Serial 34 35 36 37 38 39 40 41 42 43 44 45 13 56 5 16 37 16 14 46 46 47 48 49 50 51 52 53 140 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSISSIPPI. Mar- gin- al num- ber. Locality. Name of association. Date of organization. ADAMS COUNTY. 1 May 7, 18!U Sept. 1,1884 2 ATTALA. COUNTY. 3 Aug. — , 1889 CLAY COUNTY. 4 "West Point Aug. 1,1888 COAHOMA COUNTY. fi COPIAH COUNTY. G Crystal Springs Oct. 26, 1S88 GRENADA COUNTY. 7 May 31, 1886 HANCOCK COUNTY. 8 Bay Saint Louis HARRISON COUNTY. Mar. 3, 1890 9 Pass Christian Jan. 18,1890 HINDS COUNTY. 10 Sept. 7, 1885 Apr. 22, 1890 11 HOLMES COUNTY. 1?, May 7, 1887 Jfor. 13, 1892 13 LAFAYETTE COUNTY. 14 Oct. 15,1888 LAUDERDALE COUNTY. 15 Loan Department Mutual Educational Association . . July 18, 1890 Sept. 7,1882 Aug. 20, 1884 1f> 17 18 LOWNDES COUNTY. 19 Nov. 8, 18S3 MADISON COUNTY. 20 Jan. 1, 1889 MARSHALL COUNTY. 21 Holly Springs July 15,1889 NOXUBEE COUNTY. 22 May 7, 1889 PEARL RIVER COUNTY, 23 Apr. 28,1890 PIKE COUNTY. 24 McComb City Apr. 25, 1892 a Not reported. CHAPTER I. GENERAL TABLES. 141 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSISSIPPI. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares iu force. Eeal estate loans. Mar- gin- al 11UIII- her. Male. Female. Total. Local 43 (a) 16 (a) 59 308 6 116 546 4.384 (a) (a) 1 2 90 27 117 41 478 (a) 3 48 70 39 457 39 4 52 13 65 28 421 (a) 5 82 24 106 65 81 (a) 6 (a) (<*) (a) (a) 896 (a) 7 64 27 91 33 484 (a) 8 53 23 76 17 456 (a) 9 Local National 144 76 126 51 270 127 134 23 2,716 1,117 151 (a) 10 Permanent 11 Local Local 166 36 79 4 245 40 102 5 2, 107i 202" 115 (a) 12 Permanent 13 Local Terminating 37 16 53 26 391 (a) 14 National Local Local Pennanent (a) 290 213 166 (a) 117 80 52 134 407 293 218 46 183 102 86 217 6,628 2,477 5,734 (a) 238 217 103 15 If. 17 18 Serial (a) (a) 165 55 1,017 53 11) 100 50 150 57 908 (a) 20 Local Serial 106 27 133 52 784 (a) 21 43 20 63 18 402 la) 22 2 24 14 187 (a) 23 (a) (a) 38 6 246 (a) 24 142 REPORT OF THE COMMISSIONER OF LABOR. Taelk I.— NAME. LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSISSIPPI— Concluded. Mar- gin- al num- ber. Locality. Naine of association. Date of organization. ] WARREN COUNTY. Apr. 1, 3886 Jan. 11,1871 Nov. 5, 1888 6Apr. 5,1873 —,1889 Juno 28, 1889 June 2, 1891 Feb. 8, 1886 2 3 WASHINGTON COUNTY. Citizens' Building and Loan 4 5 6 YALOBUSHA COUNTY. 7 YAZOO COUNTY. 8 Yazoo City MISSOURI. ADAIR COUNTY. Kirks vi lie . Kirksville . ATCHISON COUNTY. Tarkio AUDRAIN COUNTY. Mexico , BARRY COUNTY. Monett BARTON COUNTY. Lamar BATES COUNTY. Butler Kich Hill . BENTON COUNTY. Warsaw BOONE COUNTY. Centralia. Columbia . BUCHANAN COUNTY. Saint Josepb. SaintJoseph. Saint Joseph. Saint Joseph". Saint Joseph. Saint Joseph. Saint Joseph. Saint Joseph. Saint Joseph. BUTLER COUNTY. Poplar Bluff Adair County Building and Loan . Kirksville Building and Loan Tarkio Building and Loan. Mexico Building and Loan . Monett Building and Loan . Lamar Building and Loan. . Butler Building and Loan Kicb Hill Building and Loan. "Warsaw Building and Loan . Centralia Building and Loan . Columbia Building and Loan. Buchanan Building and Loan Empire Loan Mechanics' BuildiDg and Loan Midland Building People's Home and. Savings Phoenix Loan Provident Building and Loan South Saint Joseph Building and Loan. Hoy al Loan Poplar Bluff Loan and Building. a Not reported. Jan. 1, June 1, 1891 1885 Jan. 12,1887 Feb. 28,1885 Nov. 21, 1883 Feb. 7, Oct. 8, 1887 1883 Feb. 9, 1888 Apr. 1, July 1, July 12, Jan. 1, July 25, May 1, Mar. 31, Aug. 1, Feb. 1, Apr. 1, Apr. 1, 1892 1887 1887 1892 1887 1890 1892 1889 1889 1891 Feb. 24,1887 CHAPTER I. GENERAL TABLES. 143 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSISSIPPI— Concluded. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Eeal estate loans. Mar- gin- al num- ber. Male. Female. Total. Local Local Local Local Lociil Local Local (a) (a) 73 578 48 101 72 173 (a) (o) 24 154 6 13 20 101 150 795 97 732 54 114 92 274 75 302 41 144 6 58 32 128 1,157 7,417 730 2,860 285 1, 108 788 2, 982 98 (a) (a) (a) (a) 77 33 137 1 2 3 4 Serial 5 6 7 8 MISSOURI. Local Local Local Local Local Local Local Local Loc.'l Local Local Local National Local Local National Local Local National Terminating 16 235 140 500 •90 50 98 226 39 41 73 287 412 126 180 373 1,508 150 188 800 84 2 41 20 50 22 9 12 18 6 3 7 50 51 30 30 65 426 75 23 139 6 18 276 160 550 112 59 110 244 45 44 80 337 463 156 210 438 1,934 225 211 939 90 8 103 72 147 64 49 60 109 24 8 16 87 115 62 90 100 948 60 36 193 48 125 1,155 559 1,968 621 222 452 741 135 355 397 2,006 496 2,107 2,000 1, 963i 5,384 1,275 1,554 7,282 615 (a) (a) (a) (a) (a) (as) (a) 127 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 9 10 Serial 11 1? Serial 13 14 15 If Termi nating r if if ?,< 21 Terminating 2: Permanent Permanent 24 2E 2f 2' 2! 2! b Datt) of incorporation. 144 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI— Continued. Locality. Name of association. Date of organization. CAPE GIRARDEAU COUNTY. Cape Girardeau. Jackson CARROLL COUNTY. Carroll ton . Carrollton . Norborne.. Wakenda.. CASS COUNTY. Archie Harrisonville. Pleasant Hill. CEDAR COUNTY. El Dorado Springs.. Stockton CHARITON COUNTY. Brunswick . Keytesville. Salisbury.. . . CHRISTIAN COUNTY. Billings. Ozark . . . CLAY COUNTY. Li berty CLINTON COUNTY. Cameron Plattsburg. COLE COUNTY. Jefferson City . Jefferson City . Jefferson City . Jefferson City . DADE COUNTY. Greenfield . Greenfield . DAVIESS COUNTY. Gallatin , DUNKLIN COUNTY. Maiden FRANKLIN COUNTY. Washington GASCONADE COUNTY. Hermann GENTRY COUNTY. Albany . . . Stan berry. Cape Girardeau Building and Loan. Jackson Building and Loan Carroll County Building and Loan. Carrollton Building and Loan Norborne Building and Loan "Wakenda Building and Loan Archie Mutual Building and Loan. Harrisonville Building and Loan . . . Pleasant Hill Building and Loan. . . El Dorado Springs Building and Loan, No. 2. Stockton Building and Loan Bruuswiek Building and Loan.. Keytcsville Building and Loan. Salisbury Building and Loan ... Billings Building and Loan Christian County Mutual Savings Fund, Loan, and Building. Clay County Mutual Loan and Building. Cameron Building and Loan.*.. Plattsburg Building and Loan. Capital City Building and Loan Cole County Building and Loan Jefferson City Building and Loan ... Missouri Central Building and Loan. Greenfield Building and Loan Home Building and Loan Gallatin Building and Loan Maiden Loan and Building "Washington Building and Savings, No. 2 . Mutual Savings Fund Albany Building and Loan ... Stanberry Building and Loan . a Not reported. Dec. 14,1882 Mar. 20, 3892 Aug Mar. Oct. Mar. 1, 1890 2d, 1887 1, 1888 1,1892 Oct. Sept Mar. 27, 1885 24, 1885 1, 1887 Jan. Sept. 24,1891 IS, 1889 Mar. Apr. Juno 1, 1889 1,1801 5,1887 Apr. July 1, 1889 12, 1888 Feb. 3, 1887 Apr. July 1, 1887 1, 1887 Mar. May Mar. Sept. — , 1886 — , 1887 — , 1884 17, 1899 Sept. Aug. 25, 1883 13, 1889 Oct. 26, 18S8 Feb. 1, 1887 Feb. 20, 1884 Aug. 22, 1885 Apr. Nov. 25, 1891 27, 1890 CHAPTER I. GENERAL TABLES. 145 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI— Continued. Local or national. Permanent, termi- nating, or Berial. Shareholders. Hale. Female. Total Borrow- ers. Shares in force. Heal estate loans. Mar- gin- al Dum- ber. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local ■ Local - Local. Local - Local - Local . Local - Local . Local . Local - Local - Local . Local . Local - Local . Local . Local . Local . Serial Permanent . Serial Serial Serial Permanent . Serial Serial Terminating . Local Serial . Local Serial . Local Serial . Local Serial . Terminating . Serial Serial Serial Terminating . Serial . Serial . Serial Terminating . Serial Serial Terminating . Terminating - Serial . Terminating . Terminating . Serial . 87 (a) 27 534 142 154 80 148 1)4 161 807 (a) 20 218 40 109 133 105 24 (a) 56 31 559 178 150 206 91 185 86 246 883 (a) 10 10 128 111 46 1.531J 410 462 731 79 316 268 189 186 131 559 885 296 423 1,341 644 1,617 883 135 555 53 C52J 34 172 640 (a) 343 460 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 109 (a) (a) (a) (a) 55 (a) (a) (a.) (a) (a) (a) 30 (a) 31 H. Ex. 209 10 146 REPORT OF THE COMMISSIONER OF LABOR. Tablk I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI— Continued. Locality. GREENE COUNTY. Ash Grove. Springfield. Springfield. Springfield. Springfield. Springfield . Springfield. GRUNDY COUNTY. Trenton HENRY COUNTY. Brownington . Clinton Clinton Clinton Clinton Deep water Deep water Deepwater Deepwater Windsor "Windsor HOWARD COUNTY. Glasgow HOWELL COUNTY. West Plains . West Plains . JACKSON COUNTY. Independence . Kansas City... Kansas City... Kansas City... Kansas City... Kansas City... Kansas City... Kansas City... Kansas City... Kansas City . . . Kansas City... Kansas City... JASPER COUNTY. Cartervillo , Carter villo . Carthage . . . Carthage . . . Carthage . . . JNplin Sarcoxie Webb City . Webb City . Webb City . JOHNSON COUNTY. Holden Knobnoster .. Warren sburg. Warrensburg. Warrensburg. LACLEDE COUNTY. Name of association. Ash Grove Building and Loan , Equity Building and Loan Farmers and Mechanics' Savings Company. Home Building and Loan Midland Savings and Loan Company National Loan and Investment Queen City Building and Loan Trenton Building and Loan. Date of organization. Brownington Building and Loan , Clinton Building and Loan Clinton Building and Loan Fund , Cottage Building and Loan , Henry County Building and Loan Deepwater Building and Loan Deepwater Building and Loan, No. 1 Deepwater Building and Loan, No. 2 Home Building and Loan Home Building and Loan Windsor Mutual Building and Loan, No, 1 , Glasgow Building and Loan. Howell County Building and Loan. West Plains Building and Loan Independence Building and Loan Atlas Building and Loan Benefit Building and Loan Continental Building and Loan ]"". Germ an- American Savings and Loan Jackson County Mutual Loan and BuildiDg. Kansas City Building and Loan, No. 5 Kansas City Mutual Loan and Building Mercantile Mutual Building and Loan Mutual Home and Savings Prudential Building andXoan Standard Building and Loan Carterville Building and Loan Workingmen's Building and Loan. Interstate Building and Savings . . Jasper County Building and Loan. Marion Building and Loan Home Building and Loan , Sarcoxie Building and Loan Twin Cities Building and Loan Webb City Building and Loan Zinc Center Building and Loan Holden Building and Loan Knobnoster Building and Loan Citizens' Building and Loan Johnson County Building and Loan . Quarry City Building and Loan Mar. llf, 1885 Jan. 1, 1888 Feb. 7, 1891 July 1,1887 Oct. 11, 1890 Nov. 1, 1890 Oct. 1,1883 Feb. 1, 1892 Mar. 28, 1886 Apr. 1, 1892 July 13. 1883 May 26, 1891 July 7, 1885 Feb. 28, 1887 Dec. 20, 1888 Feb. 28, 1891 June 30, 1891 Apr. 1, 1891 June 1, 1883 May 1, Mar. 3, 1890 Oct. 22,1887 Mar. Nov. Jan. July Apr, Feb. Mar. Dec. Oct. Apr. Jan. May Jan. Apr. July July June May July Oct. Mar. Mar. 1. 1886 7, 1892 7. 1887 1. 1890 1, 1889 1. 1887 9, 1892 9, 1884 1, 1890 1. 1888 24, 1889 1, 1888 1, 1889 20, 1891 1, 1892 14, 1887 6, 1889 1, 1889 13, 1887 1, 1887 1, 1889 1, 1891 Apr. 15,1884 Apr. 1, 189U July 11, 1890 Apr. 1, 1886 July 1, 1890 Lebanon Laclede Loan and Building. Lebanon | Ozark Loan and Building .. a Not reported. May May 1, 1885 1, 1889 CHAPTER I. GENERAL TABLES. 147 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total. 18 18 1«5 10 175 623 173 796 387 76 463 131 19 150 2,813 187 3,000 259 48 907 113 12 125 25 1 26 51 11 62 61 4 65 (a) (a) 76 102 18 120 17 17 23 23 28 1 29 10 10 92 16 108 102 19 121 14 2 16 64 16 80 72 8 80 204 39 243 44 6 50 88 38 126 3,126 423 3,519 309 19 328 175 25 200 160 46 206 30 8 38 1,773 304 2, 077 719 175 894 260 98 52 26 312 124 82 7 89 48 2 50 452 51 503 264 98 362 278 100 378 161 27 188 31 4 35 112 14 ,126 55 8 63 335 61 396 37 6 43 56 14 70 92 22 114 174 31 205 85 26 111 13 5 18 133 89 222 Borrow- ers. Shares in force. Seal estate loans. Local Local National Local National National Local Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local . Local . Local Local Local National. . Local Local Local Local National . . Local Local Local Local Local National . Local Local.... Local Local Local Local Local Local . Local . Local . Loc'al . Local . Local . Local . Terminating Serial Serial Serial Serial Permanent . . Serial Serial Terminating "Terminating Terminating Terminating Terminating Terminating Terminating Terminating Terminating Terminating Terminating Serial Terminating Terminating Serial Permanent. - Permanent. . Serial Serial Serial Terminating Serial Permanent. . Permanent. . Serial Permanent. . Serial Serial Serial Serial Serial Serial Terminating Serial SeriaL. Terminating Terminating Permanent. . Serial Serial Serial Terminating Serial 315 132 350 144 23 40 74 34 298 177 74 18 59 4 101 208 208 65 24 64 25 29 24 127 31 54 1,644 3,872 3,197 028 4,800 1, 614 62 351 204 499 440 94 74 119 la) ■ISrt 434 297 286 645 500 900 3, 790| 1,596 1,911 1,571 538i 13, 837 5,466 1, 992 i 706 307 56 2,977 2,027 1,951 1,241 110 484 395 240 301 799 1,060 3,113 810 (a) la) (a) (a) (a) (a) <«) (a) (a) (a) (a) (a) (a) (a) la) la) la) la) (a) (a) (a) (a) la) (a) 37 (a) 33 40 64 27 (a) 158 (a) 16 la) (a) la) (a) (a) la) la) (a) la) la) la) ■la) la) (a) (a) la) la) 148 REPORT OF THE COMMISSIONER OF LABOR. Tabus I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI— Contiuued. Locality. LAFAYETTE COUNTY. Higginsville . Higginsville . Lexington . . . LAWRENCE COUNTY. Aurora Aurora Marionville Mount Vernon. LINN COUNTY. Brookfield . Bucklin . . . LIVINGSTON COUNTY. Chillicothe . ChilUcothe . MADISON COUNTY. Fredericktown . Fredericktown . MARION COUNTY. Hannibal . Hannibal . Hannibal . Hannibal . Hannibal . Palmyra . . MISSISSIPPI COUNTY. Charleston MONROE COUNTY. Monroe City. Monroe City. MORGAN COUNTY. Versailles NEW MADRID COUNTY. New Madrid NEWTON COUNTY. Neosho Kitchey NODAWAY COUNTY. Mary ville OSAGE COUNTY. Chamois PETTIS COUNTY. Green Ridge. Sedalia Sedalia Sedalia Sedalia Sedalia Sedalia Sedalia , Name of association. Higginsville Building and Loan. Home Building and Loan Lexington Building and Loan — Aurora Building and Loan Missouri Building and Loan Marionville Savings, Loan, and Building- Mount Vernon Building and Loan Brookfield Loan and Building . Bucklin Loan and Building . . . Chillicothe Loan and Building. Farmers' Loan and Building . . National Loan and Building. Star Loan and Building Hannibal Mutual Loan and Building Marion County Mutual Loan and Building Merchants and Mechanics 1 Loan and Building. Missouri Guarantee Savings and Building .' "Workingmen's Mutual Loan, and Building Palmyra Building and Savings Charleston Building and Loan. Merchants and Mechanics' Building and Loan . Monroe City Building and Loan Versailles Building and Loan New Madrid Loan and Building. Neosho Building and Loan .. Ritchey Building and Loan . Maryville Homestead and Loan . Chamois Mutual Savings Fund, Building, and Loan Citizens' Loan, Building, and Investment. Equitable Loan and Investment German Building and Loan Midland Savings and Loan Company Mutual Benefit Building and Loan Occident Building and Loan Sedalia Building and Loan Sedalia Building and Loan, No. 7 a Not reported. Bate of organization. Apr. 5, 1887 Apr. 20,1887 Apr. 1,1887 Mar. 28,1887 Mar. 24,1887 Feb. 10,1888 Dec. 1, 1887 May 1, 1886 May 21,1889 Dec. 9, 1886 Oct. 17,1887 Feb. 25,1892 May 10,1890 Sept. 1,1880 Apr. 1, 1886 Jan. 1, 1887 Feb. 21,1891 Aug. 1,1889 Feb. 10,1887 July 1, 1891 Mar. 1, 1890 Nov. 8, 1888 Dec. 31,1887 May C, 1889 Sept. 1,1884 Jan. 1,1892 Mar. 26,1886 Aug. 20, 1882 Mar. 25,1889 June 20, 1887 May 12,1884 Dec. 21,1891 May 26,1892 Mar. 10,1885 June 30, 1890 May 19,1883 CHAPTER I. GENERAL TABLES. 149 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Ileal estate loans. Mar- gin- al num- ber. Male. Female. Total. Local Local Local Local Local Local Local Local Local Local National Local Local Local Local Local Local Local Local Local Local Local National Local National Local'. ~. . Local 149 138 183 139 110 26 82 240 36 149 86 90 120 274 150 164 10, 930 156 158 52 56 112 65 69 156 31 105 67 50 1,564 76 351 126 77 210 30 14 28 101 16 20 1 5 10 6 18 32 11 5 51 75 41 1,062 21 27 17 14 8 11 6 22 163 166 284 155 130 27 87 250 42 167 118 101 125 325 225 205 11, 992 177 185 09 70 120 70 75 178 31 145 78 54 1,670 87 433 164 112 235 37 115 94 106 110 80 12 48 136 15 92 78 10 124 251 130 150 1,175 43 56 14 16 57 29 29 110 7 87 36 22 393 69 178 44 64 95 21 770 718 1,604 532 567 70 464 1,388 197 1,001 921 238 700 1, 655| 1,484 1,321 7,131 1,177 1,336 1, 134 440 720 268 284 1,034 90 857 319 87 10, 947 487 4,446 1,331 554 3,632 203 (a) (a) (a) (a) (a) (a) (a) (a) (n) (a) 53 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) •(a) (O) (a) (a) (a) (a) (a) (a) 1 2 3 4 Terminating Terminating 5 6 7 8 9 10 11 12 Permanent 13 U 15 16 17 18 19 20 21 n Permanent Terminating 23 24 25 26 40 11 4 112 11 82 38 35 25 7. OT 28 29 30 31 32 33 34 35 36 150 REPORT OF THE COMMISSIONER OP LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI— Continued. Locality. Name of association. Date of organization, PHELPS COUNTY. Newburg PIKE COUNTY. Louisiana POLK COUNTY. Bolivar . Bolivar . PUTNAM COUNTY. "Dnionville RANDOLPH COUNTY. Hoberly BAY COUNTY. Hardin Richmond . SAINT CHARLES COUNTY. Saint Charles SAINT CLAIR COUNTY. Osceola SAINT FRANCOIS 1 COUNTY, Farmiugton Farmington SAINT LOUIS COUNTY. Clayton Ferguson , Florisant Kirkwood SAINT LOUIS CITY. Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Saint Louis Newburg and Rolla Building, Loan, and Savings. Louisiana Building and Loan- Bolivar Building and Loan Polk County Building and Loan . Central Building aud Loan . Moberly Building and Loan . Hardin Building and Loan Richmond Building and Loan. Sept. 26, 1892 Sept. 1, 1889 Jan. 19,1885 Feb. 1, 1889 June 7, 1892 Aug. 23, 1876 May 32,1888 Oct. 12,1886 Saint Charles Building and Loan July 1, 1885 Osceola Building and Loan. Farmington Building and Loan Saint Francois Building and Loan . Clayton Loan and Building Saint Louis County Loan and Building Florisant "Valley Homestead Building and Loan . Kirk-wood Building and Loan Accommodation Building and Loan Acme Building and Loan Active Building and Loan, No. 1 Active Building and Loan, No. 2 Active Building and Loan, No. 3 Active Building and Loan, No. 4 Advance Building and Loan iEtna Loan Company Allemannia Building and Loan American Investment Building and Loan American Mutual Building ana Loan Artisan Building and Loan Aubert Place Loan and Building, No. 1 Aubert Place Loan and Building, No. 2 Aurora Mutual Building and Loan Bank Clerks' Building Banner Building and Loan Beneficial Building and Loan Benton Building and Loan Bohemian-American Home Building and Loan . Bohemian Building and Loan, No. 2 Broadway Building and Loan Buckeye Building and Loan Caledonia Building and Loan "Cech " Building and Loan Centennial Building and Loan Charter Oak Building and Loan, No. 1 Cliarter Oak Building and Loan, No. 2 Chippewa Building and Loan Citizens' Building and Loan Citizens' Mutual Savings, Building, and Loan.. a Not reported. Mar. 15, 1887 Mar. 30,1888 Mar. 26,1891 Jan. 1, 1887 Feb. 12,1884 June 26, 1890 Apr. 2, 1884 Feb. June Oct. Apr. Mar. Oct. Feb. Feb. Sept. June May Apr. Mar. May Apr. Apr. May Mar. Feb. July Jan. June July Feb\ Oct. May May Sept. Nov. Feb. May. 6. 1890 14. 1888 25. 1889 15. 1890 19. 1891 2. 1891 21, 1887 29. 1892 18, 1891 — , 1891 19, 1891 4, 1890 1,1887 16, 1889 — , 1885 11,1892 9. 1889 4, 1887 — , 1887 8. 1890 2. 1892 27, 1891 — , 1892 21, 1891 2. 1887 — , 1889 15, 1891 26, 1891 1. 1888 1, 1887 1. 1891 CHAPTER I. GENERAL TABLES. 151 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MIS SO [FBI- Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total. Borrow- ers. Shares in force. Heal estate loans. Local Local Local Local Local . Local . Local . Local . Local . Local . Local . Loeal . Local . Local . Local . Local Local Local Local Local Local Local National.. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local . . . l - Local Local Serial . Serial . Terminating . Serial Serial . Serial . Terminating . Serial Serial . Terminating . Terminating . Terminating . Serial . Serial . Serial. . Serial . Serial Serial Serial Serial Serial Serial Terminating . Serial Serial . Serial Serial Serial Terminating . Serial . Serial Serial Serial Serial Terminating . Terminating . Serial Serial - Serial . Serial Serial Serial Serial Serial Terminating . Terminating . Serial 177 54 318 103 71 40 20 113 29 35 23 123 40 98 40 121 27 87 32 65 21 1,580 268 122 24 40 10 46 6 68 10 86 29 85 26 79 18 80 9 195 15 102 61 117 12 177 15 276 84 190 23 115 23 54 6 200 25 120 57 180 10 130 25 132 15 150 30 85 15 360 52 101 116 117 142 58 163 138 148 119 86 1,858 146 50 52 78 115 111 97 89 210 163 129 192 360 213 138 60 225 177 190 155 147 180 100 317 180 26 15 19 44 47 34 31 42 118 26 11 19 11 51 32 45 23 14 6 42 42 29 25 27 100 21 207 200 300 1,794 2,543 408 397 877 ,308 247 737i 661 1,584 1.304J 1,2464 999 1,325 3,977* 1, 190 388 381* 7864 1, 511 1,265 1,246 665 1, 1044 1,173 1,4,75 580 2,348 1,428 l,07«fr 322 1,404 1,729 1,370 1,409 802 2,418 725 (a) (a) (a) (a) (a) (a) {a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) («) (a) (a) (a) 2! (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (.a) (a) (as) (a) (a) W (a) 152 REPORT OF THE COMMISSIONER OP LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOUKI— Continued. Locality. Name of association. Date of organization. SAINT LOUIS CITY — cont'd, Saint Louis. Saint Louis. Saint Louis. Saint Louis . Saint Louis - Saint Louis. Saint Louis. Saint Louis - Saint Louis. Saint Louis. Saint Louis - Saint Louis . Saint Louis- Saint Louis. Saint Louis. Saint Louis . Saint Louis . Saint Louis. Saint Louis. Saint Louis. Saint Louis- Saint Louis. Saint Louis. Saint Louis - Saint Louis.. Saint Louis - Saint Louis - Saint Louis. Saint Louis. Saint Louis . Saint Louis. Saint Louis- Saint Louis - . Saint Louis. Saint Louis.. Saint Louis.. Saint Louis - Saint Louis . Saint Louis . . Saint Louis . Saint Louis.. Saiut Louis.. Saint Louis - . Saint Louis . . Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis - . Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis. . Saint Louis . . Saint Louis.. Saint Louis . . Saint Louis . . Saint Louis.. Saint Louis.. Saint Louis . . Saint Louis.. Saint Louis.. Saint Louis. . Saint Louis . . Saint Louis.. Saint Louis . . Saint Louis.. Saint Louis. . Saint Louis.. Saint Louis.. Saint Louis.. Clerks and Mechanics' Building and Loan Aug. Clifton Heights Building and Loan Jan. Climax Building and Loan June 16, Columbia Building and Loan June — , Commercial Building and Loan June Compton Hilt Building and Loan Aug. Concordia Loan and Building May Continental Building and Loan Sept. 20, Cooperative Building and Loan Jan. 19. Cote Brilliante Building and Loan May 26. Covenant Building and Loan Feb. " Crescent Building and Loan Sept. De Soto Savings and Building Mar. 12. Eclipse Building and Loan May 28! Economy Building and Loan Aug. — Edison Building and Loan, No. 1 Mar. 4 Edison Building and Loan, No. 2 Feb. 27, Elaine Building and Loan J une — . Electric Building and Loan Sept. 14, Emerald Savings and Building Jan. 14, Equality Savings and Building .* Aug. Excelsior Mutual Building and Loan May 10, Exchange Building and Loan Nov. 15, Famous Mutual Savings Fund, Loan, and Building .. Mar. 10, Firemen's Building and Loan Apr. 1, Fireside Building and Loan May 10, Forrest Building and Loan June 27, Franco- American Loan and Building Feb. 4. Franklin Savings and Building Aug. 13 Fraternal Building and Loan Aug. 11, Future Great Building and Loan Aug. 25! Garfield Savings and Building Sept. " Garrison Mutual Building and Loan Mar. Gas and Electric Building and Loan Apr. 8 General Hancock Building and Loan Apr. 11 German-American Building and Investment Aug. 13. Germania Building and Loan Mar. 27. German Mutual Building and Loan Mar. 23. Gibraltar Loan and Savings Oct. Gladstone Building and Loan Jan. Globe Building and Loan Jan. Granite Building and Loan Feb. Great Western Building and Loan Oct. Harlem Building and Loan Mar. Henry Clay Building and Loan Sept. Henry Shaw Building and Loan May 15 Hibernia Building, No. 2 Feb. 15. Home and School Building and Loan Feb. 11, Home City Loan and Building Aug. 30, Home Comfort Building and Loan Aug. 27, Home Mutual Building and Loan Dec. 20, Home Seekers-' Building and Loan &Apr. 4 Homestead Mutual Building and Loan Apr. 19. House and Home Building and Loan July 1 Humboldt Building and Loan June 1 Hydraulio Building and Loan Sept Imperial Building and Loan Dec. 11 Improvement Building aud Loau Apr. 13. Independent Building and Loan Oct. 31 Industrial Building and Loan Sept. 20i Investment Building and Loan Apr. 21, Irish- American Savings and Building Apr. 13. Iron Hall Building and Loan June 5. James B. Eads Building aud Loan May Jefferson Building and Loan Nov. Keystone Building and Loan Apr. Knights' Building and Loan Feb. Laclede Building and Loan May Leader Building and Loan Jan. Legiou Building and Loan Oct. Lincoln Building and Loan - Apr. Lindell Savings, Building, and Loan , Apr. a Not reported. 1889 1891 1892 1887 1886 1889 1887 1886 1889 1891 1885 1891 1885 1891 1887 1891 1892 1891 1892 1892 1891 1885 1890 1885 1887 1890 1891 1887 1885 1886 1887 1887 1887 1891 1887 1885 1889 1887 1891 1889 1890 1888 1885 1889 1890 1888 1891 1892 1889 1891 1884 1890 1887 1830 1889 1891 1891 1887 1891 1890 1885 1887 1888 1892 1890 1890 1889 1891 1892 1888 1890 1890 CHAPTER I, — GENERAL TABLES. 153 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI— Continued. Local or national. Permanent, termi- nating, oi" serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num- ber. Male. Female. Total. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Kational Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local 118 58 27 333 58 95 138 51 137 35 51 84 95 150 173 101 94 43 93 29 89 27 81 184 117 80 77 210 148 168 120 128 115 201 152 45 211 162 (a) 185 113 111 180 155 167 123 176 37 80 137 52 125 27 112 76 88 66 183 82 65 71 143 237 74 100 80 63 180 192 45 93 107 31 14 4 45 22 16 25 21 46 19 7' 24 30 17 79 17 10 17 7 9 25 8 39 29 24 26 19 46 29 48 35 29 65 25 49 15 28 28 (a) 47 26 31 16 68 42 35 14 120 29 42 13 43 4 27 5 27 22 17 10 21 32 34 143 15 26 26 10 36 20 16 16 18 149 72 31 378 80 111 163 72 183 54 58 108 125 167 252 118 104 60 100 38 114 35 120 213 141 106 96 256 177 216 155 157 180 226 201 60 239 190 («) 232 139 142 196 223 '209 158 190 157 109 179 65 168 31 139 81 115 88 200 93 86 103 177 380 89 126 106 73 216 212 61 109 125 62 8 9 119 49 24 38 31 54 21 40 13 95 8 69 38 211 19 7 2 22 18 42 87 49 29 42 155 98 92 72 55 59 23 48 27 73 52 (a) 66 39 23 88 66 32 40 30 6 21 24 50 31 16 42 16 33 18 26 13 30 82 58 120 8 41 37 20 43 25 19 37 34 1,302 - 4634 211 2, 6714 1,374 1,132 1,447 1,138 2, 162 513 901 731 1,490 820 3, 2264 713 860 479 9274 259 848 506 815 2, 9584 1,558 1, 525 766 2,307 1,979 2,423 1,291 1,489 2, 258| 2,256 1,715 894 2,042 2,195 («■) 2,305 1,309 2,191 2,278 2,048 1,447 1,795 2,245 898 981 1,663 912 1,118 747?J 1,273 1,341 739f 1,202J 1, 638 692 9154 1,5474 1,940 1.954 765J 945 847 836 3,000 1,412 650 971 1,158 (a) (a) (a) (o) (a) (a) ' (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) («-) 2 (a) (a) (a) (a) (a) (a) 41 (a) (a) (a) (a) (a) (a) '(a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (ai (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 1 Serial f, Serial Serial 3 4 Terminating 5 6 7 Terminating 8 9 10 Terminating- 11 IV, Terminating 13 14 15 16 17 18 Serial 19 20 21 22 23 24 Terminating 25 26 27 28 29 30 31 32 33 34 35 36 37 38 Permanent 39 40 Terminating 41 42 43 44 45 46 Terminating 47 48 4S Terminating Terminating 50 51 52 53 54 55 5b 57 58 59 6( 61 62 63 64 65 Terminating 6b 67 Terminating Permanent Terminating 68 69 70 71 72 &Date of incorporation. 154 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY/ AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI— Continued. SAINT LOUIS CITY— cont'd, Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Locality. Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis.. Saint Louia.. Saint Louis.. Saint Louis . . Saint Louis.. Saint Louis.. Saint Louis . . Saint Louis.. Saint Louis. . Saint LouiB.. Saint Louis.. Saint Louis . . Saint Louis. . . Saint Louis. . Saint Louis. . Saint Louis-. Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis . . Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis.. Saint Louis.. Saiut Louis.. Saint Louis.. Saint Louis. Saint Louis.. Saint Louis. Saint Louis . Saint Louie.. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louia. Saint Louis. Saint Louis. Saint Louis . Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Saint Louis. Name of association. Lucas Building and Loan Marquette Mutual Building Mechanics' Mutual Building and Loan , No. 1 Mechanics' Mutual Building and Loan, No. 2 Mercantile Building and. Loan No. 2 Merchants and Mechanics' Mutual Sayings Fund, Loan, and Building. Merchants' Building and Loan Metropolitan Mutual Building and Loan Midland Building and Loan Mississippi Building and Loan Missouri Mutual Building and Loan Missouri Savings and Loan Company Model Building, Loan, and Investment Mound City Building and Loan Mount Olive Building and Loan, No. 1 Mount Olive Building and Loan, No. 2 Mullannhy Building and Loan MutualBenefitSavingsFund,Building, andLoan,No. 1 MutualBeuefit Savings Fund, Building,andLoan,No. 2 National Building and Loan N ew Era Building and Loan New Plan Building and Loan Nickel Savings, Investment, and Building North End Building and Loan North Saint Louis Building and Loan Northwestern Building and Loan Oak Building, Loan, and Savings t Park Building and Loan, No. 1 Park Building and Loan, No. 2 Parnell Savings and Building Peabody Building and Loan Peerless Building and Loan Peter Cooper Building and Loan, No. 1 Peter Cooper Building and Loan, No. 2 Peter Cooper Building and Loan, No. 3 Peter Cooper Building and Loan, No. 4 Peter Cooper Building and Loan, No. 5 Phoenix Building and Loan, No. 1 Phoenix Building and Loan, No. 2 Powhatan Building and Loan Printing Trades Mutual Building and Loan Progressive Building and Loan Prosperity Building and Loan Provident Building and Loan Real Estate Building and Loan, No. 1 Real Estate Building and Loan, No. 2 .- Real Estate Building and Loan, No. 3 Real Estate Building and Loan, No. 4 Red Cross Building and Loan Reservoir Building and Loan, No. 1 Richmond Savings and Building Robert Emmet Building and Loan Rock Spring Loan and Building, No. 1 Rock Spring Loan and Building, No. 2 Royal Building and Loan , Safety Building and Loan Saint Louis Central Building and Loan Saint Louis Home and Savings Saint Louis Loan and Investment Company Saint Louis Savings and Building Saint Louis Turners' Building and Loan, No. 1. . . Saint Louis Turners' Building and Loan, No. 2... Security Loan and Building, No. 1 Security Loan and Building, No. 2 , Sherman Building and Loan Shoe and Leather Trade Building and Loan Sociale Building and Loan South End Building and Loan South Side Savings, Building, and Loan Southwestern Loan and Building Standard Building and Loan Bate of organization. Apr. 6, 1892 June 8, 1885 Oct. 10,1884 Jan. 7, 1891 Mar. 26,1891 Mar. 20,1885 Aug. 12. 1892 Apr. 1,1887 Feb. 18,1892 Dec. —,1888 Aug. 10, 1883 Apr. 15,1892 Aug. 20, 1889 Jan. 9, 1883 Jan. 4,1885 Jan. 19,1891 Aug. 12, 1887 Dec. 3, 1889 Jan. 27,1890 Apr. 6, 1887 Sept. 20, 1886 Apr. 11,1888 Aug. 10, 1886 Nov. 1,1887 Jan. 15,1891 Mar. 4,1887 May 28,1888 Apr. 1,1890 1. 1890 4, 1889 — , 1887 2. 1891 Apr. Nov. Apr. Apr. Jan. Oct. Oct. Oct. Jan. 1, 1888 1. 1888 1,1889 1. 1889 1. 1890 Dec. 29,1890 Sept. 10, 1891 Mar. 17, 1892 Apr 3, 1888 Mar. 20, 1887 Mar. 7,1890 Jan. 1,1890 June 5,1889 Jan. 1, 1890 June 15, 1891 Apr. 1,1892 Nov. 12,1890 Jan. 28.1890 Apr. 10,1891 June 1,1892 Deo. 27,1885 Mar. 31, 1891 Apr. 1,1892 Aug. — , 1890 Jan. 17,1887 15, 1888 4, 1892 19, 1891 .. 16,1885 Aug. 10, 1887 July 10,1883 July 1,1891 June 6,1891 Sept. 21, 1890 Oct. 4, 1892 Jan. 16,1887 Apr. 1, 1891 Nov. 5, 1885 Sept. 21, 1886 Dec. May Jan. Oct. a Not reported. CHAPTER I. GENERAL TABLES. 155 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI— Continued. Local or national. Permanent, termi- nal iug, or serial. Shareholders. Kale. Female. Total Borrow- ers. Shares in force. Real estate loans. Local . Local . Local . Local . Local . Local . Local Local Looal Local Local National. . Local Local ..... Local Local Local Local Local . - ; . . Local ..... Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Lccal Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local National. . Local Local Local Local Local Local Local Local Local Local Local Local Serial Serial Terminating . Terminating . Serial Serial Permanent. . - Terminating . Serial Terminating . Terminating . Serial Permanent... Serial Terminating . Serial Serial Serial Serial Terminating . Terminating . Serial Serial Terminating . Serial Terminating . Serial Serial Serial Serial Terminating . Permanent... Serial Serial Serial Serial Serial Serial Serial Terminating . Serial Terminating . Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Permanent . . . Permanent . . . Serial Terminating . Terminating . Terminating . Terminating . Serial Serial . Serial . Serial . Serial . Terminating . Terminating . 93 122 121 110 • 110 114 54 72 132 103 62 (a) 105 75 41 131 160 95 84 146 135 48 282 180 136 130 80 99 80 108 118 66 124 102 76 88 52 113 49 81 178 71 274 122 95 138 111 67 47 58 58 137 190 132 38 97 133 103 2,715 65 101 72 71 120 83 140 38 242 175 (a) 35 21 31 42 103 78 52 27 3 11 10 54 36 25 67 56 213 17 33 17 14 33 17 10 2 35 25 20 40 119 160 140 157 122 154 67 83 164 128 60 1,099 134 102 57 104 175 107 92 197 185 55 308 220 160 189 96 110 97 136 154 90 194 145 103 116 68 142 05 104 213 92 305 164 198 210 163 94 50 69 68 191 226 165 41 122 200 159 2,928 82 134 89 85 153 100 150 40 277 200 118 136 15 103 132 44 20 93 24 16 58 50 95 42 34 46 24 118 11 8 75 65 18 125 74 39 56 38 14 9 47 61 46 52 33 16 21 18 25 13 18 67 37 112 37 69 59 33 34 13 27 7 11 80 39 5 20 55 30 123 15 31 19 55 22 26 16 7 127 26 1,301 943 1,372 1,260 7G5 2,074 840 1,038 1,751 1, 669i 1, 131J 1, 795& 2,875 762 881 1, 776£ 2,092 998 709 2, 355 1,681 683 3, 291i 2,228 972 1,821 843 923 876 1,137 1,944 1,071* 1, 649J 1, 281H 777 846 394 873 478 2,145 1,771 1,732 2,459 1,822 1,108 1,117 1,144 892 341i 564 459 1,0714- 1,511 1,263 334 1,046 1,875 2,414 6,457| 962 1,158 754 1,296 2,349 847 1,313 260 2,153 1,139 1,236 1,884 (a) (a) (a) W (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) La) (a) («) (a) (a) 48 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 40 (a) (a) (a) (a) (a) (a) (a) («) (a) {a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) W (a) (a) (a) (a) (a) 156 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI— Concluded. SAINT LOUIS CITT — COno'd. Locality. Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint Saint 27 Saint 28 Saint Louis - - Louis - . Louis.. Louis . . Louis.. Louis.. Louis . . Louis . . Louis . . Louis.. Louis . . Louis.. Louis . Louis . . Louis.. Louis. Louis . Louis . . Louis.. Louis.. Louis., Louis . Louis - Louis. Louis. Louis- Louis. Louis. •SALINE COUNTY. Malta Bend Marshall Marshall Slater Sweet Springs. SCOTLAND COUNTY. Memphis SULLIVAN COUNTY. Milan VERNON COUNTY. Nevada . Nevada . Name of association. Starling Building and Loan State Savings, Building, and Loan Stephen Girard Building and Loan Suburban Mutual Building and Loan Superior Building and Loan, No. 1 Superior Building and Loan. No. 2 Tower Grove and Southwestern Building, No. 1. Tower Grove and Southwestern Building, No. 2. Trust Fund Loan Tuscan Building Uncle Sam's Building and Loan Underwriters' Building and Loan Union Building and Loan.... Valley Building Company Virginia Building and Loan Washington Irving Building and Loan Washington Savings and Building Webster Groves Loan and Building West End Building, Loan, and Savings Western Building and Loan Western Mutual-Building andLoan Western Union. Building and Loan, No. 1 Western Union Building and Loan, No. 2 Western Union Building and Loan, No. 3 Western Union Building and Loan, No. 4 Western Union Building and Loan, No. 5 West Saint Louis Building, Loan, and Savings . . . Workingmen's Building, Loan, and Savings Malta Bend Building and Loan Marshall New Era Loan and Building. Mutual Building andLoan Slater Building and Loan Brownsville Building and Loan .». Memphis Loan and Building. Citizens' Home Building andLoan. Date of organization . Nevada Building and Loan, No. 2 . Nevada Building and Loan, No. 3 . June — , Dec. 4, June 22, Mar. — , Eeb. 20, May 22, July 8, Oct. 23, June 18, Jan. 20, Aug. 25, July 1, July 6, Apr. 4, Eeb. 28, Nov. 3, Jan. 26, Apr. -5, Mar. — , Nov. 15, Eeb. 16, Oct. 24, Jan. — , Mar. — , July — , Nov. — , Apr. 1C, Oct. 1, 1891 1889 1888 1891 1891 1891 1889 1889 1892 1890 1891 1889 1892 1886 1890 1890 1887 1884 1887 1889 1887 1889 1890 1890 1890 1890 1886 1889 June 7,18S8 Aug. 2,1890 July 1, 1888 Apr. 24,1888 Mar. 1,1884 Feb. 1, 1886 Nov. 30,1892 Dec. 30,1885 Nov. 30,1888 MONTANA. CASCADE COUNTY. 38 May —,-1891 GALLATIN COUNTY. 39 Feb. —,1889 LEWIS AND CLARKE CO. 40 Aug. 29,-1885 .Feb. 13,-1890 41 MISSOULA COUNTY. 42 Missoula 6 May 7, 1886 a Not reported. CHAPTER I. GENERAL TABLES. 157 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MISSOURI— Concluded. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total Borrow- ers. Shares in force. Real estate loans. Local Local Local.'. ... Local Local Local Local Local National. . Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local . Local . Local . Local . Local . Local . Local . Local . Local . Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Serial Serial Serial .Serial Serial Serial Permanent . . . Serial Serial Serial Serial Serial Serial Serial Serial Serial . Serial . Serial . Serial . Serial . Serial . Terminating . Terminating . Terminating . 63 17 R7 21 108 40 89 22 70 31 69 21 300 50 295 52 268 8 97 30 159 29 86 18 127 19 62 12 1)1 24 98 40 149 36 153 32 147 28 62 20 152- 25 129 33 114 27 102 29 100 26 118 21 142 32 120 37 99 21 •) (o) 66 13 101 32 79 25 (a) 55 3 29 1 28 2 80 108 148 111 101 90 350 347 276 127 188 104 146 74 115 138 185 185 175 82 177 162 141 131 126 139 174 157 120 (a) 79 133 104 90 503 1,023 1,757 900 1,128 844 1,908 1,934 1,477 1,183 1,541 1,292 1, 796 1,122 1.443J 1,316 2,055 1,971 2,019 3, 757J 2,063 1, 2604; 1,044 973 958 1, 053J 1,844 1,407 430 843 467 9324 314 135 184J (a) (a) (a) (a) (a) (a) (a) la) (a) (a) (a) (a) 12 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) W (a) (a) (a) W (a) (a) (a) (a) (a) (a) MONTANA. Local . Local . Local National . Local Serial Serial . Serial . Permanent. Serial (a) (a) 15 2 139 46 185 68 101 750 23 240 124 990 66 175 178 49 227 125 b Date of incorporation. 1.953 12, 156 (a) (a) (a) (a) (a) 158 REPORT OF THE COMMISSIONER OF LABOR. Table I NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. MONTAIV A— Concluded. Mar- gin- al num- ber, Locality. Name of association. Date of organization. 1 PARK COUNTY. May 11,1888 May 1, 1888 Sept. — , 1885 2 SILVERBOW COUNTY. Butte Citv 3 YELLOWSTONE COUNTY. NEBRASKA. ADAMS COUNTY. Hastings ANTELOPE COUNTY. Neligh... .... BOONE COUNTY. Albion BROWN COUNTY. Ainsworth BUFFALO COUNTY. Kearney CASS COUNTY. Plattsmouth Plattamouth "Weeping "Water . CHERRY COUNTY. Valentine CLAY COUNTY. Edgar . . . Fair held. COLFAX COUNTY. Schuyler CUMING COUNTY. "West Point CUSTER COUNTY. Broken Bow DAWES COUNTY. Chadron DAWSON COUNTY, Cozad Lexington . Lexington . Overton . . . Hastings Land, Loan, and Building . Neligh, Building and Loan.- Albion Building and Loan. Ainsworth Building and Loan Midway City Building and Loan . Livingston Loan and Building Plattsmouth Loan and Building Weeping Water Loan and Building . Valentine Building and Loan . Edgar Building and Loan Fairfield Building and Loan . Schuyler Building ;uid Loan "West Point Building and Loan .. Broken Bow Building and Loan . Chadron Loan and Building Cozad Building and Loan Dawson County Building and Loan . Lexington Building and Loan Overton Building and Loan a Not reported. Pel). 4, 1884 Mar. 5, 1887 Apr. 4,1887 Mar. 24, 1887 Dec. 27, 1887 Jan. Feb. May 11, 1889 6, 1885 24, 1887 Apr. 23, 1892 Mar. May 1. 1889 6. 1890 May 21, 1887 Feb. 28, 1888 Apr. 1, 1887 Apr. 29, 1887 Jan. Apr. Apr. May 1, 1886 20, 1885 1, 1890 7, 1888 CHAPTER I. — GENERAL TABLES. 159 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. MONTAIVA-Concliided. Local .or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in ■ force. Ileal estate loans. Mar- gin- al num- ber. Kale. Female. Total. Local 1 Local Local 96 73 118 31 20 2 127 93 120 63 35 76 1,638 1,534 1.205J (a) 41 (a) 3 NEBR18KA. Local. Local . Local . Local . Local . Local . Local. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local. Local - Serial . Serial . Serial . Serial - Serial Serial Permanent. Permanent.. Permanent. Serial . Serial . Serial . Serial Serial Terminating . Serial 72 150 124 ■10 12 118 47 128 15 83 22 87 42 "n 69 22 40 20 4 5 180 161 117 81 2844 884 693 234 618 285 752 28!) 213 153 (a) (a) (a) to (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 160 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEBRASKA— Continued. Mar gin- al num ber. Locality. Kame of association. Date of organization. 18 DODGE COUNTY. Fremont. Fremont. Hooper . . DOUGLAS COUNTY. Omaha Omaha Omaha Omaha Omaha Omaha Omaha South Omaha. South Omaha. GAGE COUNTY. Beatrice HALL COUNTY. Grand Island . Grand Island. Grand Island . Wood River . . HARLAN COUNTY. Republican City HITCHCOCK COUNTY. Stratton . Trenton . KEARNEY COUNTY. Axtell . . Mind en . KEITH COUNTY. Ogallala KNOX COUNTY. Creighton LANCASTER COUNTY. Lincoln LINCOLN COUNTY. North Platte MADISON COUNTY. Madison Madison Newman Grove. Norfolk Norfolk MERRICK COUNTY. Clarks NUCKOLLS COUNTY. Kelson... Superior . Equitable Building and Loan Nebraska State Guarantee Building and Loan. Hooper Building and Loan Bohemian Loan and Building Conservative Loan and Building Mutual Loan and Building Nebraska Loan and Building Occidental Building and Loan Omaha Loan and Building Provident Savings, Loan, and Building. Bohemian Loan and Building South Omaha Loan and Building Beatrice Building . Equitable Building and Loan Grand Island Building and Loan People's Building, Loan, and Savings. "Wood River Building and Loan Republican City Building and Loan. Stratton Loan and Building . Trenton Loan and Building. . Axtell Building and Loan. . Min den Building and Loan . Ogallala Loan and Building ... Creighton Buiiding and Loan , Lincoln Loan and Building Mutual Building and Loan Madison Building and Savings Madison County Building and Loan . . . Newman Grove Improvement Society . Elkhorn Building and Savings Norfolk Building and Loan .;.... ".\\" Clark» Building and Loan. Apr. 7, 1886 Jan. 4, 1892 Aug. 27, 1889 May Mar. Feb. July June Apr. Feb. Aug. Apr. 7. 1884 2, 1892 9. 1885 26, 1885 11, 1889 10, 1883 8, 1889 31, 1891 1, 1887 Nov. 10,1884 Mar. 1 , 1890 Jan. 9, 1882 July 13,1885 Jan. 2, 1889 Sept. 21,1886 Sept. 28, 1887 May 1, 1887 Feb. 22,1890 Feb. 1, 1887 May 7, 1887 Nov. 1, 1891 Dec. 26,1885 6Mar. 17,1886 Aug. 1,1888 July 2a, 1888 Oct. "2, 1888 Jan. 4, 1888 July 1,1885 Feb. 25,1888 Nelson Loan and Building _ Mar = 1fiRR Citizens' Building, Loan, and Savings \\'_\ §*£ l,im a Not reported. CHAPTER I. GENERAL TABLES. 161 Table I — NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IV JG B R AS K A— Continued. Local or national. Local National Local Local NatiouaL Local Local National Local National Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Permanent, termi- nating, or serial. Serial Serial Serial Serial Permanent Serial Serial Permanent Serial Permanent Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Shareholders. Male. Female. Total 149 523 02 08 83 250 252 355 347 310 71 190 283 105 44 51 104 80 (a) 123 51 67 91 05 23 9 84 27 59 100 13 11 110 34 23 9 (o) 212 550 69 77 92 340 279 414 453 329 77 201 139 67 02 112 81 300 158 61 107 142 125 25 Borrow- ers. 102 44 IB 09 5 151 96 56 74 65 9 60 143 119 44 25 Shares in force. Ecal estale loans, i 1,166 4,445 235 111 (a) (a) 295 550 1,848 1,0744 1,150 S, 390J 7784 289 988 (a) («) (a) (a) (n) 73 (a) (a) (a) 285 (a) 2,143 649 368 192 146 (a) (a) (a) 80 (a) 111 455 (a) (a) 387 319 («> (a) 70 (a) 198 (a) 2,296 17 1,809 (a) 928i 644" 265 561 1,184 (a) (a) (a) (a) 10) 25 } (a) 1,257 174 (a) (a) h Date of iucorporatioo . H. Ex. 209- -11 162 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEBRASKA— Concluded. Mar- gin- al Dum ber. Locality. OTOE COUNTY. Nebraska City PHELPS COUNTY. Holdrege Holdrege PLATTE CODNTY. Columbus Platte Center POLK COUNTY. Stromsburg REDWILLOW COUNTY. McCook SALINE COUNTY. Crete : Wilber SAUNDEKS COUNTY. Ashland Wahoo Wahoo SCOTTS BLUFF COUNTY. Gering THAYER COUNTY. Hebron WASHINGTON COUNTY. Blair YORK COUNTY. York York , WASHOE COUNTY. Reno BELKNAP COUNTY. Laconia Lake-port COOS COUNTY. Berlin ; . . . Berlin Name of association. Nebraska City Building and Loan Holdrege Building, Loan , and Savings Phelps County Building, Loan, and havings Columbus Land, Loan, and Building Platte Center Land, Loan, and Building Stromsburg Mutual Building, Loan, and Savings McCook Cooperative Building and Savings Crete Building and Loan "Wilber Building and Loan Ashland Loan and Building Swedish Mutual Loan and Building "Wahoo Mutual Loan and Building G-ering Building and Loan Hebron Building Blair Building and Loan : Home Building and Loan York Mutual Building and Loan NEVADA. Union Building and Loan NEW JHA1TBIVSIIIKE. Laconia Building and Loan Mutual Building and Loan Berlin Building and Loan People's Building and Loan a Not reported. Date of organization. Mar. 19, 1387 Jan. 15,1887 July 1, 1890 May 1, 1886 Jan. 1. 1888 Feb. 16,1886 Jan. 2, 1889 June 3. 1887 Sept. 1,1891 June 2,1888 Jan. 1, 1889 Apr. 14,1888 Apr. 1, 1889 Apr. 12,1886 Feb. 15,1890 Aug. 12, 1887 J uly 9, 1892 Apr. 6, 1889 Jan. 17,1888 June 10, 1890 Sept. 11,1890 Oct. 8, 1891 CHAPTER I. GENERAL TABLES. 163 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEBRASKA— Concluded. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow ■ era. Shares in force. Real estate loans. Mar- gin- Male. Female. Total. num- ber. ]99 22 221 81 821 (a) 1 Local 20 14 2 18 28 32 11 15 168 339 (a) (a) 2 3 Local 125 (a) 57 43 21 168 90 (a) 1,300 215 (a) (a) (a) 4 5 78 48 586 6 120 42 162 62 878 (a) 7 Local Local 83 136 38 • 48 121 184 61 85 728 1,157 (a) (a) 8 Terminating 9 Local 57 04 131 20 8 62 77 102 193 30 36 55 457 363 1,424 (a) (a) (a) lo 11 12 14 4 17 38 (a) (a) 13 Local 43 15 58 45 315 14 (a) (a) (a) Local Local Terminating 100 216 10 8* 110 300 (1) 18 558 2,196 16 NEVADA. Local . Local . Local . Loeal . Loeal ■ Serial . 61 211 31 1, 484 (a) NEW HAMPSHIRE. Serial . Serial . Serial . Serial . 247 111 (a) 106 (a) (a) 353 162 137 140 1,845 701 553 1, 046 67 (a) 164 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW HAMPSHIRE— Concluded. I Locality. Name of association. Date of organization. Oct. 1, 1891 Dec. 5, 1887 June 1, 1887 Sept. 1, 1890 Nov. 3, 1891 Apr. 10, 1888 60ct. 10, 1891 Sept. 7, 1887 Sept. 23, 1890 Dec. 31, 1887 June 8, 1890 June 23, 1S90 Jan. 3, 1891 HILLSBQRO COUNTY. Manchester Manchester Manchester MiKord Nashua Nashua, Nashua MERRIMACK COUNTY. Concord Concord Franklin Falls ROCKINGHAM COUNTY. Portsmouth STRAFFORD COUNTY. Dover _ Rochester Citizens' Building and Loan Granite State Provident Building and Loan Manchester Building and Loan Milfbnl Building and Loan Home Building and Loan Nashua Building and Loan People's Building and Loan Concord Building and Loan Rumford Building and Loan Franklin Building and Loan Portsmouth Building and Loan Dover Cooperative Savings Fund and Loan Rochester Building and Loan NEW JERSEY, ATLANTIC COUNTY. Atlantic City -_- Atlantic City Atlantic City Egg Harbor City Hammonton Hammonton Mays Landing Pleasant ville BERGEN COUNTY. Allendale Carls tadt Cloater Englewood Hackensaek Hasbrouck Heights.. Lodi Midland Park Oradell Park Ridge Park Ridge Ramsey Ridgerield Ridgewood Ridgewood Rutherford BURLINGTON COUNTY, Beverly Bordentown , Burlington Burlington , Delanco , Fieldshoro Florence Moorestown Moorestown Mount Holly Mount Holly , Mount Holly , New Gretna , Atlantic City Loan and Building Mutual Building and Loan People's Building and Loan Egg Harbor Building and Loan Hammonton Loan and Building "Workingmen's Building and Loan Mays Landing Building and Loan Pleasantville Mutual Loan and Building Orvil Cooperative Building and Loan Carlstadt Mutual Loan and Building Harrington Building and Loan Englewood Mutual Loan and Building Hackensack Mutual Building and Loan Hasbrouck Heights Building, Loan, and Savings Lodi Building "and Loan Franklin Building and Loan Bergen County Building and Loan Eureka Building and Loan "Washington Township Building and Loan Ramsey Building and Loan Ridgefield Building and Loan Cooperative Building and Loan Ridgewood Building and Loan Rutherford Mutual Loan and Building Beverly Building and Loan Bordentown Building and Loan City of Burlington Loan and Building Farmers and Mechanics' Building ana Loan Delanco Building and Loan , Mutual Building and Loan .' Florence Saving Fund, Building, and Loan Moorestown Buildiu e and Loan Workingmen's Cooperative Loan Industry Building and Loan , Mount Holly Building and Loan People's Building and Loan New Gretna Building and Loan Society a Not reported. Jan. Feb. Mar. June Nov. Jan. June Mar. Apr. May Feb. May Mar. June May Fob. Feb. Feb. Feb. Aug. Nov. Feb. Mar. May 18. 1869 26, 1889 1, 18S4 9, 1884 23, 1871 1, 1877 2, 1890 17. 1870 13. 1889 12. 1890 8, 1888 16. 1887 7,1887 3, 1890 22, 1892 16. 1891 21. 1888 20, 1890 3. 1890 11, 1890 30. 1889 1. 1891 28, 1885 11, 1876 Jan. Mar. Feb. Apr. May Oct. Apr. Dec. Feb. Mar. Feb. Aug. Mar. 13, 1868 9, 1880 13, 1868 1, 187L 3, 1890 12, 18S1 13, 1882 14, 1891 27, 1888 30, 1874 1, 1862 2, 1883 1, 1889 CHAPTER I. GENERAL TABLES. 165 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. NEW HimPSUIRE- Concluded. Local or national. Permanent, termi- nating, or serial. ■ Shareholders. Borrow- ers. Shales in force. Real estate loans. Mar- gin- al num- ber. Male. Female. Total. Local National Local Local Local Local Local Local Local Local Local Local Local Permanent Permanent Serial (a) (a) (a) 112 97 385 130 (a) (a) (a) 152 (a) 332 (a) (a; (a) 36 24 140 46 (a) (a) .(a) 14 (a) 100 53 4,000 •701 148 121 525 176 632 89 204 166 154 432 37 409 120 3 8 104 5 93 4 63 13 14 19 317 34, 847 3,417 511 780 3,160 993 2,922 •115 900 843 579 1,517 <«) 398 120 3 12 104 5 93 4 49 12 10 18 1 2 3 4 6 8 1] 12 13 NEW JERSEY. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local . Local Local . Local . Local . Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial .'. Serial Serial Serial Serial Serial Serial Serial Terminating Serial Serial Serial Serial ". . . Serial Serial Serial (a) 01 (a) (a) (a) (a) (a) 330 91 87 127 265 334 100 (a) 55 (a) 01 35 42 135 08 160 232 102 120 150 (a) (a) (a) 126 89 75 291 187 (a) 114 (a) 14 (a) (a) (a) (a) (a) 102 24 7 30 116 111 22 (a) 5 (a) 19 7 10 38 17 92 98 (a) (a) (a) 41 30 15 153 120 (a) 11 1,014 75 107 29S 384 505 108 432 115 94 157 381 445 122 97 00 317 110 42 52 173 85 252 330 175 190 212 294 55 40 167 119 90 444 307 220 125 58(5 5 37 95 151 240 10 200 12 15 31 83 104 17 3 2 82 17 15 6 34 7 51 77 59 18 79 99 13 40 79 9 21 144 129 75 28 5,135 271 530 959 2,464 2,707 350 1,262 ■ 034 015 885 2,814 3,419 884 542 316 2,076 475 93 346 1,310 408 2,631 2,130 829 814 1,183 1,552 359 161 919 688 497. 3,415 1.927J 2,048 . 680 (a) 94 (a) 303 11 (a) 13 11 (a) 77 80 14 (a) 2 (a) (a) (a) 6 30 45 62 65 20 (a) 131 7 16 93 7 11 125 129 (a) . 26 frDate of incorporation. 166 REPORT OF THE COMMISSIONER OF LABOR. Tabu? I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW JERSEY- Continued. Locality. BCRLING-TON CO. — COnc'd. Palmyra ■ Pemb'erton Riverside Biverton CAMDEN COUNTY. Berlin Camden Camden Camden Camden Camden Camden Camden , Camden Camden Camden Camden Camden Camden Camden Camden Camden Camden Camden Camden Camden Camden Chesilhurst Clementon Collingswood Gloucester City Gloucester City } I add on field Linden wold Magnolia Merckantville CAPE MAT COUNTT. Avalon Cape May Cape May C. H Dennisville Ocean City Sea Isl e City South Seaville Tuckahoe CUMBERLAND COUNTY. IMdgeton Uridgeton Millville Millville Millville Vineland ESSEX COUNTY. Belleville Belleville Bloomfield Bloomfield Caldwell East Orange Franklin Irvington Mont Clair Newark Newark , Name of association. Palmyra Building and Loan Pemberton Building and Loan .' Riverside' Building and Loan Cinnaminson Building and Loan Berlin Building and Loan, No. 3 Artisans' Building and Loan - Bishop Bay ley Building and Loan, No. 2 .". Brotherhood Building and Homestead Camden Building and Loan City Building and Loan, No. 2 Economy Building and Loan Excelsior Building and Loan Fidelity Building and Loan Franklin Building and Loan, No. 3 German Centennial Building and Saving Fund Guarantee Building and Loan Homestead Building and Loan Mechanics and Workingmen's Building and Loan - . Mutual Building and Loan - Mutual Guarantee Building and Loan North Camden Building and Loan People's Building .and Loan Provident Building and Loan South Ward Building and Loan, No. 2 State Mutual Building and Loan Stockton Building and Loan Chesilhurst Building and Loan Clementon Building and Loan Collingswood Mutual Loan and Building Improvement Building and Loan United Mutual Loan and Building Mutual Loan, Savings, and Building "United Towns Building and Loan Mutual Building and Loan Merchantville Buildin g and Loan Avalon City Building and Loan Cape May Savings Fund and Building Mechanics and Laborers' Building and Loan Dennisville Loan and Building Ocean City Building and Loan Sea Isle City Building and Loan South Seaville Building and Loan Tuckahoe Building and Loan Bridgeton Savings Fund and Building Merchants and Mechanics' Savings Fund and Build ing. Hope Savings Fund and Building Institute Building and Loan Security Perpetual Loan and Building Mechanics' Building and Loan, No. I Belleville Building and Loan Home Building and Loan Bloomfield Bunding and. Loan Essex County Building and Loan Caldwell Building and Loan East Orange Building and Loan Franklin Building and Loan Irvington Building and Loan , Mont Clair Building and Loan iEtna Building and Loan , Casino Building and Loan a Not reported. Date of organization. Feb. 12,1887 Apr. 18,1884 May 5, 188G Oct. 1, 1878 Mar. 8, 1886 Dec. 10,1873 Mar. 2, 1880 Jan. 18, 1892 July 22, 1867 May 2, 1874 Nov. 22, 1881 July 29, 1870 Feb. 16,1883 Sept. 10, 1873 Apr. 13, 1876 Aug. 20, 1886 Jan. 14,1884 Feb. 25,1871 Apr. 13,1872 Feb. 14,1891 Oct. 10,1879 Mar. 1, 1871 Dec. —,1892 June 3,1859 Dec. 12,18yi Dec. 15,1890 Sept. 3,1887 Apr. 12,1892 May 7, 1890 July 17,1887 Aug. 21, 1866 Jan. 15,1874 Mar. 10, 1890 May 2, 1889 Aug. 2,1880 Apr. 24,1889 Jan. 28,1867 Feb. 26, 1872 Feb. 7, 1881 Mar. 12,1887 Aug. 28, 1888 Feb. 16,1872 Mar. 5,1870 June 5,1865 Apr. 20,1870 Dec. 6, 1880 Oct. 22,1883 Nov. 28, 1874 July 21,1873 Sept. Nov. Jan. Oct. Dec. Mar. Sept. July Jan. June Feb. 5, 1873 17, 1890 11, 1886 20,1885 20, 1890 2, 1887 15, 1886 14,1887 8, 1886 25, 1890 15, 1892 CHAPTER I. GENERAL TABLES. 167 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW JERSEV- Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total Borrow- ers. Shares in force. Real estate loans. 3824 23 2,673 63 1, 326 (0) 2,463 (a) 673 38 3,020 205 8,455 345 132 3 2, 629J 240" 2, 006J 124 2,860 78 1,999 55 57 3 3, 313| 233 1,380 77 1,490 (a) 1, 996i 80 2,977 171 1,8494 124 10, 385 (a) 2,878 71 2, 5621 157 674* (a) 1.954J (a) 11, 923 30 442 4 98J 30 169 (a) 309 8 2, 286^ 122 9074 120 3,838 165 7804 11 8884 24 2,718 110 8894 21 1,289 (a) 742 <•) 326 (a) 372 9 354 («) 253 (a) 416 70 3,254 (a) 4,156 307 2, 3474 244 1, 280| 109 1,990 218 1,901 182 1,376 65 512 9 1,406 49 3, 5301 114 366 5 3,797 (a) 1,700 66 985 32 5,924 125 1,216 11 854 4 Local . Local . Local . Local . Serial . Serial . Serial . Serial . Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local National. Locnl Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . . . Local . . - Local . . . Local . . . Local . Local . Local . Local . Local Local . Local Local . Local . Local . Local. Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . 51 190 (a) 104 652 (a) 34 416 263 (a) (a) (a) 375 149 178 271 422 160 (a) (•) 327 87 183 1,502 53 42 (0) 49 (a) 149 328 119 (a) (a) 122 173 (a) (a) 92 (a) (a) (a) (a) (a) 396 210 82 175 361 57 SOU 194 120 470 (a) (a) (a) 38 77 (a) 2 136 91 (a) (a) (a) 197 21 64 61 173 103 (a) (a) 163 16 87 421 15 8 (a) 5 (a) 66 221 32 (a) (a) (a) (a) I a) (a) (a) (a) (a) 70 24 53 162 12 200 70 23 230 (a) (a) 81 280 237 405 142 729 619 36 552 354 372 234 101 572 170 242 332 595 203 960 451 490 103 270 ,923 68 50 44 54 273 215 549 151 169 378 130 270 206 143 116 70 176 137 657 1,037 779 280 507 549 280 106 228 523 69 500 264 143 700 172 142 23 64 52 125 42 207 352 5 233 122 85 55 3 219 81 73 78 218 25 41 75 172 8 120 (a) 4 28 2 7 103 78 166 17 32 111 25 102 59 62 46 10 32 65 177 555 238 103 210 131 8 56 144 4 50 71 50 160 27 4 168 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW JERSEY- Continued. Locality. Name of association. Dato of organization. kssex county — conc'd. Newark Newark New ark Newark Newark Newark Newark Newark Newark Newark .Newark Newark Newark^ Newark" Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark Newark' Newark Newark Newark Newark Newark Newark Newark Newark Orange Orange Valley. South Orange . Vailsburg GLOUCESTER COUNTY. Clayton Glassboro MullicaHill... Paulsboro Swedesboro . . . Williamstown . "Woodbury HUDSON COUNTY. Arlington . . Arlington .. Arlington .. Bayonne Bayonne Bayonne Harrison . . . Harrison . . . Hnboken . . . Jersey City. Central Building and Loan Chosen Friends' Home, Loan, and Savings League. Citizens' Building and Loan Eighth "Ward Building and Loan Enterprise Building and Loan Excelsior Building and Loan, No. 2 Fireside Building and Loan First Italian Building and Loan Fourteenth "Ward Building and Loan Fraternal Building and Loan German Building and Loan Grand Building and Loan Hearthstone Building and Loan Home Building and Loan Howard Building and Loan Knights of Pythias Building and Loan Lincoln Building and Loan ;.._ Mechanics' Building and Loan Mercer Building and Loan Modern Building and Loan Mutual Building and Loan Newark Building and Loan , New Jersey Building and Loan Norfolk Building and Loan North End Building and Loan Northwestern Building and Loan Passaic Building and Loan Phoenix Building and Loan Protection Building and Loan Prudential Building and Loan Beliablo Building and Loan Ilosevillo Building and Loan , Savings Building and Loan , Security Building and Loan Seventh AYard Building and Loan Standard Building and Loan State Building and Loan Tenth "Ward Building and Loan Teutonia Building and Loan Thirteenth "Ward Building and Loan Union Building and Loan Uptown Building and Loan Washington Building and Loan "West End Building and Loan "Woodside Building and Loan AVorkingmen's Building and Loan Orange Building and Loan Orange "Valley Building and Loan South Orange Building and Loan Yailsburg Building and Loan Clayton Building Glassboro Loan and Building Mullica Hill Building and Loan Paulsboro Loan and Building Swedesboro Loan and Building Monroe Building Woodbury Real "Estate Mutual Loan! Arlington Building and Loan Equity Building and Loan Kearney Building and Loan . . Bayonne Building, No. 2 Centerville Building and Loan ' Pamrapo Building and Loan HarriBon and Kearney Building and Loan. People's Building aud Loan Hoboken Building and Loan Aldene Building and Loan June 13, Oct. 1. Dec. 1, Dec. 21, Mar. 30, May 20, Feb. 5, Apr. 21, Dec. 21, Apr. 27, June 2, Oct. 12, Dec. 6, June 3, Aug. 14, Mar. 26, Jan. 20, Aug. 18, Nov. 23, May 11, May 25, May 25, July 28, Apr. 3, May 29, Mar. 15, June 27, Dec. 2, Jan. 27, June 1, Sept. 14, Nov. 13, Jan. 20, July 9, Oct. 2, Sept. 15, Aug. 3, Feb. 17, Oct. 7, Apr. 9, June 24, June 14, May 16, J une 4, Aug. 22, Apr. 23, Feb. 11, Mar. 22, Sept. 15, Mar. 8, 1881 1889 1801 1885 1883 1879 1887 1891 1885 1887 1881 1891 1888 1884 1884 1886 18S7 1884 1890 1892 1867 1883 1887 1888 1889 1892 1884 1886 1886 1892 1884 1885 1886 1884 1891 1886 1887 1887 1890 1887 1887 1892 1887 1888 1884 1888 1887 1888 1887 1892 Mar, 8,1880 Mav 1, 1883 Jan. 10,1876 Feb. 22,1873 May 1,1871 Feb. 5, 1870 May 5, 1871 June Jan. Nov. Dec. Aug. Feb. May Aug. Feb. Mar. a ]Not reported. 2, 1892 20,1889 10, 1884 1,1831 19,1889 1, 1887 19, 18S6 20, 1873 15, 1887 7, 1892 CHAPTER I. GENERAL TABLES. 169 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW JERSEY- Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in ! force- Mar- Real gin- cstato al loans, num- ber. Male. Female. Total. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local 128 426 103 353 (o) 227 (.a) 57 (a) 216 302 75 (a) (a) (a) 339 216 (a) 201 (a) 507 (a) 167 128 (a) 153 (a) 317 (a) 40 272 254 333 389 91 (a) 152 297 (a) 132 (a) (al 209 230 283 104 223 («) ■ 88 (OS) (a) 128 la) (a) 100 134 487 (a) (a) (a) 655 387 170 161 1,032 485 (a) 34 76 17 200 (a) 47 (a) 2 (a) 93 84 14 (a) (a) (a) 93 21 (a) 36 (a) 194 (a) 48 36 (a) - 38 (a) 86 (a) 6 101 122 90 60 19 (a) 49 65 (a) 14 (a) (a) 36 106 103 24 68 (a) 25 (a) (a) 29 (a) («) 44 26 412 (a) (a) (a) 123 J 37 49 73 645 113 • (a) 162 502 120 553 401 274 191 59 927 309 386 89 146 252 460 432 240 238 237 220 701 202- 215 164 182 191 268 403 342 40 373 370 423 449 110 505 201 302 197 140 240 150 245 336 386 128 291 211 113 122 142 157 113 203 144 160 899 105 127 351 778 524 219 234 1,677 598 22 60 60 6 87 150 59 39 2 182 67 150 5 24 99 126 104 41 79 7 6 122 91 32 38 14 17 76 89 96 1 110 74 89 163 rt 132 26 101 29 35 32 6 99 39 99 30 59 45 16 8 75 106 41 75 73 58 265 3 25 74 197 54 44 53 411 122 1 1 1, 297 j 3,221 1,C05 5, 268 , 2, 807i | 2, 917 | 1,496$ 482 7,911 2, 153 2,976 629 1, 140* 2,086 3, 7484 2, 937| 1,615 1,761 1,658 814 6,668 2,395 1. 482* M88 1,304 1,0304 1.835 2,683 2,891 232 2,758 3, 165 2,973 3,226 725 3,912 1, 3664 2,804 1,311 714 1,588 1,029 2, 0774 2,171 3, 057* 060" 1,890 1,430 685 ■ 714 768 663 350 773 675 564 5,913 667 1,272 2, 022* 6,593" 3,518 854 I, 528 10, 350J 6,332 124 37 (a) 3 111 123 60 34 2 125 51 127 5 19 70 148 69 36 (a) 7 la) (a) 74 48 (a) 14 (a) 54 03 99 («) 87 85 59 155 2 104 22 77 22 16 29 (a) 45 30 113 10 55 35 13 6 (a) 106 32 70 60 59 448 (a) (a) 80 , 185 53 (a) 42 463 .120 (a) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 C ; | 21 22 23 24 25 26 27 28 29 30 31 Serial 32 33 34 35 Serial 36 37 38 39 Serial 40 41 1 Serial 42 43 44 45 Serial 46 47 48 49 50 51 52 53 54 55 56 57 58 53 60 61 62 63 64 65 66 67 170 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW JERSEY— Continued. Mar-] gin- | al | num- ber. | Locality. HUDSON COUNTY— COnc'd Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersty City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey City Jersey Ci ty TVeehawken West Hoboken HUNTERDON COUNTY. Flemington Elemington Lambert ville MEBCER COUNTY. Higlitstown Hopewell Pennington Trenton Trenton Trenton MIDDLESEX COUNTY. Dunellen Jamesburg New Brunswick New Brunswick New Brunswick New Brunswick New Brunswick ... New Brunswick New Brunswick New Brunswick Perth Amboy Perth Amboy Perth Amboy Perth Amboy South Amboy Namo of association. Bergen Mutual Building and Loan, No. 2 Bergen Mutual Building and Loan, No. 3 Carteret Mutual Building and Loan Columbia Building and Loan Communipau Building and Loan Crescent Mutual Building and Loan Enterprise Mutual Building and Loan Equitable Building and Loan * Erie Building and Loan Excelsior Mutual Building and Loan, No. 1 Excelsior Mutual Building and Loan, No. 2 Enirmount Mutual Building and Loan Garfield Building and Loan * Greenville Building and Loan, No. 1 GreeD ville Building and Loan, No. 2 Greenville United Building and Loan. Highland Mutual Building and Loan Home Mutual Building and Loan Hudson City Mutual Building and Loan Hudson County Caledonian Building and Loan Hudson Mutual Building and Loan Improved Land and Loan '. Industrial Mutual Building and Loan Jersey City Building and Loan Lafayette Mutual Building and Loan Lincoln Building and Loan Madison Building and Loan Montgomery Mutual Building and Loan, Monticellu Mutual Building and'Loan Mutual Land and Building Syndicate North Hudson County BuDding and Loan Paulus Hook Building and Loan. Pavonia Building an a) (a) («) («) : (a) (a) (a) («) (a) 40 150 41 («) 1 (a) fa) (a) (a) 228 90 (ft) (a) (ft) (o)_ <«)' («) («) (a) (a) 4 (a) 32 (a) (a) <«) 220 58 (a) («) (a) i; (a) (a) (a) (ft) (ft) {a) (ft) (a) 94 45 010 (a) V. (re) (a) (a) (a) (ft) (ft), (a)' : (a) (a) (a) (a) (a) 35 153 02 (a) (a) (a) (a) (a) (ft) (a) (tO (a) (a) 2fl 17 21 215 (a) (a) («) (a) (a) (ft), (ft)' (*> 20 53 189 159 550 212 30 85 38 68 1,252 94 05 380 189 1,440 72 532 44 21 08 43 20 55 77 51 71 170 30 118 473 59 109 33 231 110 48 381 158 189 137 133 52 39 (a) 89 103 98 71 54 01 128 53 79 480 71 30 34 44 581 8 298 118 109 202 150 100 301 200 12 24 11 70 33 3 5 4 7 107 4 70 9 250 8 38 13 2 3 5 3 10 7 5 10 9 45 15 10 7 22 17 90 180 342 572 2,235 2,780 4,133 1,960 171 778 253 l,180i 23, 213 1,530 1,315 2,061 3,206 10, 712 824 7,517" 327 173 1,072 358 135 483 524 340 481 1)629 225 988 3,455 999 1,380 267 3,580 1,390 514 4,518 2,080 2,381 2,360 1,230 017 227 2,938 1,476 839 445 375 028 372 ' 1,086 396 447 8,980 560 375 504 467 3,244 42 2,265 705 3,187 822 571 908' 2,461 1,790 7 117 4 08 9 388 4 51 14 2 3 1 3 . 10 7 6 10 9 18 53 5 5 12 9 2 4 22 23 (a) 6 23 1 5 9 9 4 8 42 77 13 3 10 35 3 45 15 19 7 22 16 105 103 180 REPORT OF- THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW YORK- Continued. Locality. FULTorr county. Glovcrsville Glovcrsville CEXESEE COUNTY. Batavia GREENE COUNTY. Catskill HERKIMER COUNTY. Dolgeville Ilion Jefferson county. Carthago Clayton "Watertown KINGS COUNTY. Batli Beach Brooklyn Brooklyn Brooklyn. Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn . . A Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn Brooklyn , Brooklyn Brooklyn Brooklyn , Brooklyn Brooklyn Flatbush Port Hamilton LIVINGSTON COUNTY. Dansvillo MADISON COUNTY. Canastota Oneida MONROE COUNTY. Brighton Brockport Brockport Fairport Xamo cf association. Gloversvilio Building and Loan People's Savings and Loan ■ Genefce County Permain nt Loan and Building Catskill Building and Loan Bolgeville Savings, Building, and Loan Ilion Permanent Barings, Building, and Loan Carthage Savings, Loan, and Building Security Building, Loan , and Savings "Watertown Savings, Loan, and Building Citizens' Cooperative Building and Loan Atlantic Cooperative Savings and Loan Bedford Cooperative Building and Loan Brooklyn and New York Arcanum Building, Loan. and Savings. Brooklyn City Cooperative Building and Loan Brooklyn Mutual Building and Loan Buskw'ick Cooperative Building and Loan Columbia Building and Loan East Brooklyn Cooperative Building East New York Cooperative Savings and Building Loan. Equitable Cooperative Building and Loan Fifth Avenue Cooperative Building and Loan Fort Greene Cooperative Building and Loan Fulton Cooperative Building andXoan German Building and Savings Company Gcrmania Building, Savings, and Loan Hamilton Cooperative Building and Loan Homestead Cooperative Building and Loan J. H. Shulta Cooperative Building and Loan Kings County Cooperative Building and Loan Long Island Building anil Loan - , Madison Cooperative Building and Loan Model Building and Loan Montauk Buildin g and Loan Nassau Coopcrati ve Building and Loan Ninth Street Savings and Loan Prospect Home Building and Loan , South Brooklyn Cooperative Building and Loan Union Cooperative Building and Loan Flatbush Cooperative Savings and Loan New Utrecht Cooperative Building and Loan Dansvillo Savings and Loan Canastota Savings and Loan Oneida Savings, Building, and Loan Brighton Permanent Savings and Loan Brockport Loan and Building Citizens' Savings and Loan Fairport Permanent Loan oNot reported. Dato of organization. Sept 8, 1SS8 Sept 29, 1801 -Apr. 15, 1S79 Jan. 22, 1889 Oct. 13, 1891 Oct. 3, 1888 Dec. 3, 1888 Mar. 2, 1889 Dec. 19, 1887 Kbv. 0,1889 May 14, 1888 Jan. 4, 1888 Nov. 10, 1885 Mar. 2, 1887 Jan. 16, 1883 July 16, 1888 Aug 14, 188D Apr. 20, 1885 Aug 9, 1892 Juno i, 1888 Dec. 19, 1889 July 15.18S9 Oct. 2, 1888 Oct. 1,1880 Jan. 17, 1888 May 27, 1889 Doc. 12, 1888 Jan. 21, 1888 Jan. 10, 1888 Mar. 2S, 1888 July 16, 1888 Oct. 15, 1889 Juno 17, 1889 Apr. 25, 1883 Oct. 20, 1890 Apr. 21, 1SC0 Apr. 13, 1886 Apr. 30, 1S90 I''bI>. 21, 1889 Mar. 28, 1887 Jan. 13, 1888 Fell. 9, 1889 May 10, 1887 July 0, 1888 Jan. 19, 1888 Mar. 15, 1890 May 1, 1888 CHAPTER L-^-GENERAL TABLES. 181 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW YORK-Continued. Local ot -national. Local.... Local Local — Local . . . Local — Local Local National Local . . . Local . . . Local . . . Local . . . Local . . . Local . . - Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local - . . Local . . - Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local... Local . .. Local . - - Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . - Local . . . Local Local... Local . . . Permanent, termi- nating, or serial. Permanent Pcrmanont Permanent Serial Permanent Permanent Permanent Permanent Permanent Serial Serial Serial Serial Permanent Serial Serial Serial Serial Permanent Serial Permanent Permanent Serial Serial , Permanent Perman ent Serial Serial Serial Serial Permanent Serial Permanent Serial Permanent Permanent Permanent Serial Serial ....>"-... Serial Permanent Permanent Permanent Permanent JPermanent Permanent Permanent Shareholders. Halo. Female Total («) (a) 81 204 (a) (a) (a) 263 140 (a) 225 <«) 7G (a) 312 G13 163 08 1G1 (a) 52 203 172 167 (a) (a) 173 47 GO (a) (a) 221 1,107 215 254 205 fa) (a) 202 52 («) (a) 33 14 112 145 (a) 250 (a) (a) (a) f (a)' («) 10 144 279 42 28 23 (a) (a) (a) («> (a) 45 364 45 70 64 (a) (a) 122 375 250 710 95 376 309 382 839 290 370 323 185 1,318 280 817 86 1,052 450 S92 210 120 184 149 60 , 257 221 171 878 646 208 63 80 488 149 266 1,471 260 324 269 146 275 82 403 324 90 Borrow- ers. 01 58 59 141 (a) 130 50 57 11 152 16 100 14 15 13 28 14 25 15 23 79 08 10 7 12 39 4 15 190 19 34 10 110 GO 14 Shares in force. Heal estate loans. 5,639 43 4,199 17 3,524 129 565 (a) 685 13 2,894 01 1,405 (a) 1,270 61 4, 161 . 178 2, 212 > 21 2, 209J (a) 1,975 (a) l,350i . ■■(«) 9,142 136 1.711J 35 0,581 (a) 445 6 8,022 152 5,882 15 7,648 (a) 1,865 10 876 7 1,238 13 383 10 83 (a) 2,084 16 1,452 15 1,749 14 7, in 79 5,765 (a) 1,977 14 517 G 599 6 3,559 («1 2,080 4 2,173 14 12, 555 190 1,621 5 2,132 26 1,226 39 8,941 93 713 26 1,325 90 1, 072* 9 0, 337i 110 4,966 60 427 13 182 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW YOKJK— Continued. Locality. Namo cf association. Date of organization. MONROE COUNTY — Cont'd Rochostor - Rochester - Rochester . Rochester . Rochester . Rochester . Rochester . Rochester . Rochester - Rochester - Rochester - Rochester - Rochester . Rochester . Rochester - Rochester - Rochester - Rochester . Rochester - Rochester - Rochester - Rochester . Rochester - Rochester . Rochester . Rochester . Rochester - Rochester - Rochester . Rochester . Rochester . Rochester - Rochester - Rochester . Rochester - Rochester . Rochester . Rochester - Rochester - Rochester - Rochester - Rochester - Rochester . Rochester - Rochester - Rochester . Rochester— . Rochester - Rochester . Rochester . . Rochester . Rochester - Rochester . . Rochester . . Rochester . . Rochester . . Rochester . . Rochester . . Rochester . . Rochester . . Rochester .. Rochester . . Rochester . . Rochester .. Rochester . . Rochester . . Rochester . . Rochester . . Rochester . . Rochester . . Rochester .. Rochester . . Alliance Loan Brown Street and Jefferson Avenue Dime Permanent Savings and Loan. Carthage Dime Permanent Savings and Loan Citizens' Permanent Savings and Loan Columbia Banking, Savings, and Loan Commercial Loan Conkey Avenue Savings, Aid, and Loan Consolidated Savings and Loan Dime Banking and Loan - East Rochester Permanent Loan Eighth. "Ward Permanent Loan Eighth "Ward Standard Loan Empire Permanent Loan Enterprise Permanent Savings and Loan Expressman's Permanent Savings and Loan Fifteenth "Ward Loan Fifth "Ward Permanent Savings and Loan Flower City Cooperative Sarvings and Loan Fourteenth "Ward Dime Permanent Savings and Loan . Frankfort Permanent Savings and Loan Franklin Dime Permanent Loan Genesee Falls Permanent Savings and Loan Genesee National Savings and Loan Germania Permanent Savings and Loan Glenwood Permanent Savings and Loan Goodman Street Dime Savings and Loan Herman Permanent Savings and Loan Homo Banking and Loan Homestead Loan Hudson Street Permanent Savings and Loan Lake Avenue Permanent Savings and Loan Lincoln Park Permanent Savings and Loan Lincoln Permanent Loan Lowell Dime Permanent Savings and Loan Lyell Avenue Savings and Loan .' Monroe Avenue Dime Banking and Loan Monroe County Permanent Savings and Loan Monroe Savings and Loan _.. Mount Hope Avenue Dime Savings and Loan Mutual Benefit Savings and Loan National Savings and Loan New Homestead Loan Ninth "Ward Savings and Loan North Avenue Permanent Savings and Loan North Clinton Street Mechanics' Savings and Loan . . Northeastern Permanent Savings and Loan North Rochester Savings and Loan Park Avenue Loan .". People's Permanent Savings ami Loan Phoenix_Savings and Loan Pinnacle" Avenue Savings and Loan Plymouth Avenue Savings and Loan Popular Banking Savings and Loan Profit Loan Rochester Dime Savings and Loan ! Rochester Equity Deposit and Loan Rochester Permanent Savings Saint Joseph Street Permanent Savings and Loan Security Loan Sixth "Ward Permanent Savings and Loan South End Savings and Loan Standard Loan States Building and Loan Tenth "Ward Dime Permanent Savings and Loan Teutonia Permanent Savings and Loan Third "Ward Permanent Savings and Loan Thirteenth "Ward Permanent Loan Union Dime Permanent Loan Union Permanent Savings and Loan ... United Permanent Savings and Loan Wadsworth Dime Banking, Aid, and Loan V. wakelee Farm Dime Banking and Loan a Not reported. Oct. Sept. 9,1890 3, 1887 Nov.- 22, 18S8 Aug. 9,1880 Feb. 28,1884 Jan. 9, 1891 Juno 3, 1885 May 17,1889 Sept. 20, 1886 Juno 15,1880 Apr. 22,1885 Sept. 28, 1889 Jan. 25,1888 Oct. 4, 1889 Juno 9,1888 May 21,1889 Sept. 23, 1886 Jan. 26,1888 May 4, 1887 Mar. 12,1888 Aug. 23, 1887 Sept. 17,1887 Mar. 5, 1891 May 18,1885 Mar. 1,1887 May 28,1888 Oct. 25_,1882' Juno 1, 1886 Oct. 6, 1881 Nov. 2, 1885 Feb. 5,1889 Feb. 19,1889 Juno 20, 1889 July 19, 1887 Juno — , 1883 July 11, 1887 Nov. 2, 1887 Feb. 8, 1884 Apr. 10, 1888 Apr. 3, 1888 Jan. 2, 18S9 July 23, 1889 Feb. 24,1886 Mar. 11,1886 Jan. 23,1883 Juno 20, 1890 Sept. 27, 1883 Mar. 16,1888 Sept. 25, 1885 May 11,1887 Feb. 24,1890 Jan. 1,1891 Oct. 25, 1886 May 24,1886 May 20,1880 Apr. 30,1834 Feb. 28,1882 Aug. 2,1886 May 17,1881 Mar. 29, 1886 Sept. 16, 1886 Jan. 5, 18S7 Apr. 1, 1891 June 16, 18S7 Feb. 27,1884 July 13,1886 May 21,1888 Aug. 2,1887 June 1,1886 Aug. 3,1886 Oct. 12,1887 Oct. 13,1886 CHAPTER I.— GENERAL TABLES. 183 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. WEW YOSK— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Malo. Female. Total. Borrow- ers. Shares in force. Heal estate loans. Mar- gin- al num- ber. Local - Local . Permanent . Permanent . Local Local Local Local Local....... Local Local Loeal Xocal Local Local Local Local Local Local Local Local Local . Local Local National ... Local Local Local Local Local Local Local Local Local Local Loeal Loeal -, Local .' Local Local Local Local Local Local Local Local Local Local ------ Local Local Local Local Local Local Local Local Local Local Local Local Local ■ Local Local Local National... Local Local Local Local Local Local Local Local Local Permanent . . . Permanent - . - Permanent... Permanent. -- Permanent . . . Permanent . . . Permanent — Permanent. -- Permanent . . - Permanent.. - Permanent - - . Permanent.. - Permanent — Permanent . . . Permanent . - - Serial Permanent . - . Permanent . . . Permanent — Permanent — Serial Permanent - - - Permanent . . . Permanent... Permanent — Permanent - - - Permanent - - - Permanent- -- Permanent — Permanent - - - Permanent - - . Permanent — Permanent . - - Permanent - - . Permanent - - - Permanent - - - Permanent . . . Permanent — Permanent - - - Permanent - - . Permanent - - - Permanent - - - Permanent - - - Pormanent.-- Permanent . - . Permanent - - - Permanent... Permanent . - . Permanent-. - Permanent - - - Permanent. -- Permanent... Permanent - - - Permanent . - . Permanent . - - Permanent - - - Permanent - - . Permanent . . . Permanent . - - Permanent ... Serial Permanent . . - Permanent . . . Permanent. -- Permanent. .. Permanent . - - Permanent - — Permanent.- . Permanent . . . Permanent... (a) (a) 37 103 (a) 113 13 (a) 411 (a) 181 96 (a) 325 (a) (a) 31 (a) 34 (a) 57 423 84 235 (a) Mo- rn 33 124 10 143 167 21 (a) (a) 2, 096 317 421 312 151 320 98 3T9 090 60 00 148 77 370 124 19 103 71 103 19 155 33 87 201 239 208 80 57 73 05 125 58 20 104 5 50 241 10 20 03 30 140 .93 34 21 70 39 53 17 32 19 13 8 100 42 30 24 42 05 43 400 195 50 81 27 41 25 113 70 05 74 00 202 47 97 60 51 35 27 70 191 21 12 15 22 135 81 9 38 16 36 4 50 3 73 91 49 15 7 21 14 31 19 2,820 4,530 334 1,285 10, 066 1,656 353i 2, 724 . 3,007 0,384 1,045 1,903 238 8,529 4,171 5,898 467 0:i5 750 546 850 10, 882 5,196 925 498 3,259 2, 030 660 13, 5ul 8,191 1,270 4,305 873 4,193 461 12, 049 1,440 2,402 4, 750 2,609 9,264 4,959 4,991 3,737 1,876 3,668 1,263 4,209 5,274 858 573 1, 328J 1,048 3,863 2,141 335 811 065 1,019 169 2,334 251 700 4, 298J 3,819 1, 380J 552 876 823 381 1,755 20 102 5 51 241 17 19 03 36 140 93 35 21 70 39 53 17 31 25 13 8 200 36 34 20 42 65 41 473 199 50 81 27 41 23 132 70 04 79 00 254 47 93 71 51 37 35 80 205 25 12 15 22 (a) 81 <«> 10 41 53 6 73 82 94 15 7 30 29 31 19 184 REPORT OF THE COMMISSIONER OF LABOR. Tabus I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd: NEW yOBE- Continued. Locality. Name of association. Date of organization. MOXF.OE COUNTY — COnc'd Rochester Rochester Rochester _ ; - . Rochester Rochester Rochester Rochester KEW 5 01UC COUXTV. New York. New York. New York. New York. New York. New York. New York- New York. New York. New York. New York. New York. New York. New York. New York. New York. Now, York . New York. New York. New York. New York. New York. New York. New York. New York. New York. New York. New York. New York. New York. New York. New York. New York. New York . New York. New 'York. New York . New York . . New York.. New York.. New York.. New York.. New York.. !New York.. New York.. New York.. New York.. New York.. New York.. New York.. New York.. Now York. New - York. New York. New York. New York. New York. Washingtou Permanent Loan and Aid • "West Avenue Loan "Western New York Permanent Savings and Loan. "Westphalia Cooperative Savings and Loan West Side Permanent Loan Windsor Permanent Savings and Loan Workingmen's Permanent Savings and Loan May 11,1880 Nov. 10, 1890 Mar. 18,1889 Sept. 24, 1887 Feb. 23,1883 May 20,1890 Mar. 23,1885 a Not reported. American Cooperative Savings and Loan Anglo-American Savings ahef Loan Assured Building and Loan : . . . Bank Clerks' Cooperative Building and Loan ... . Bankers' Loan and Investment Company Birheck Investment Savings and Loan Company Broadway Dry Goods Cooperative Building and Loan-. Citizens' Savings and Loan Cooperative Building Bank '. • Daily News Building, Savings, and Loan East Side Cooperative Building and Loan Electric Building, Loan, and Savings Eureka Cooperative Savings and Loan Federal Cooperative Building and Loan . ... = i German-American Building and Loan Greenwich Building and Loan Harlem Cooperative BuildiBg and Loan Harlem River Building, Loan, and Savings Herald Employes' Cooperative Building and Loan Home Mutual Building-Loan Industrial Cooperative Building and Loan Italian Cooperative Building and Loan Jewellers' Building and Loan Keystone National Savings, Loan, and Investment . . . Manhattan and Suburban Savings and Loan Manhattan Mutual Cooperative Savings and Loan . . . Mercantile Cooperative Bank Methodist Boole Concern Employes' Cooperative Building and Loan. Metropolitan Cooperative Building and Loan Millinery Building and Loan Model Building and Loan Mount Morris Cooperative Building and Loan Mount Saint Vincent Cooperative Building and Loan. Murray Hill Cooperative Building and Loan National Mutual Building and Loan New York and Suburban Cooperative Building and Loan. New York and Wakefield Cooperative Building and Loan. New York Building-Loan Banking Company New York Cooperative Building and Loan New York Mutual Savings and Loan New York National Building and Loan New York Stato Mortgage, Bank, and Savings New York World Cooperative Building and Loan Northern Building, Savings, and Loan . North Now York Cooperative Building and Loan Park Building and Loan 7 People's Cooperative Building and Loan Produce Exchange Building and Loan Railroad Brotherhood Savings and Building. . Railroad Cooperative Building and Loan Railway and Steamship Employes' Mutual Buildin" and Loan . ° Safety Cooperative Building, Loan, and Savings Scandinavian Building and Mutual Loan Security Building-Loan Mortgage Company Serial Building,. Loan, and Savings Institution Sherman Park Bail Verein, No. 1 Sherman Park Savings and Building .. Mar. Nov. Nov. Mar. Oct. Feb. Sept. Oct. Mar. Mar. Feb. Mar. June May June Oct, Mar. Apr. May May Sept. Mar. May Mar. Apr. Aug. Oct. June 2. 1888 8, 1890 7. 1889 26. 1890 1. 1890 18, 1892 12, 1888 1. 1889 4, 1690 8,1888 15, 1888 23. 1891 8,1888 24. 1888 7. 1888 15. 1889 21. 1887 14, 1891 27. 1888 10, 1888 6,1887 14. 1891 9. 1890 31. 1890 27. 1892 24, 1887 9. 1889 1, 1S88 Feb. 22,1888 Dec. 31,1888 Aug. 12, 1889 Mar. 4,1888 Mar. 22,1888 Mar. 30,1888 Apr. 19,1888 May 1, 1888 Mar. 27, 1888 Jan. 15, 189o Feb. 24,1888 Juno 24, 1889 Jan. 13,1890 Sept. 28,1891 Oct, 2, 1886 Sept, 11, 1889 Apr. 19,1888 Apr. 4, 1892 July 24, 1888 May 20,1888 July 20, 1891 Mar. 5, 1890 Feb. 2, 1891 Oct. 30,1888 Oct. 25,1887 Apr. —,1891 Jan. 20,1885 Aug. — , 1891 Nov. 30,1891 b Including paid-up stock. CHAPTER I.^GENERAL TABLES. 185 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW YORK- Continued. Local or national. Local . Local . Local . Local . Local . Local . Local . Local National — Local Local : National... National- . - Local Local National. .. Local Local Local Local Local Local Local- Xocal Local Local Local •. Local Local Local National... Local Local National... Local Local Local . — Local Local Local Local National . - Local ■- Local- . Local Local National.. National- . Local Local Local Local Local Local Local National.. Local Local. 1 Local .-. . . Local National . Local .... Local Local — Permanent, termi- nating, or serial. Permanent . . Permanent. - Permanent . . Permanent - - Permanent-. Permanent . - Permanent . . Serial Permanent. Permanent . Permanent . Permanent - Permanent . Serial Permanent . Permanent . Permanent . Permanent . Permanent . Serial .' Serial Serial Serial Permanent . Serial Permanent . Serial Serial Serial Permanent. Permanent'. Permanent. Serial . ■- Permanent . Serial Permanent . .Serial Serial Permanent - Serial Serial Serial Serial Serial . Permanent - Serial Pernianont . Permanent . Serial Serial Permanent . Permanent - Permanent . Permanent . Serial Permanont . Permanent . Serial Serial Serial Permanent . Serial Serial Serial Shareholders . Male. Female («> (a) (a) (a) (o) c (a)' (a) (a) 212 295 401 481 (a) 210 1,714 (a) 342 110 (a) 128 (a) 128 (a) (a) 401 (a) 392 75 249 401 16 (a) 1,349 (a) 160 240 (a) 838 (a) 202 4,296 463 464 431 561 0,284 871 187 (a) (a) 194 72 (a) 947 (a) 295 (a) 236 (a) (a) 429 32 (a) (a) (a) (a) (a) (a) 1 («) (a) («) 76 40 110 158 («) 67 278 la) (a) t (a)' (a) 52 140 («> 5 45 129 2 (a) 1] («) (a) 2: (a) 102 S03 77 101 156 51 45 (a) («) (a) 500 («) 29 (a) 108 (a) (a) 15S 1 (a) Total. 149 217 244 190 52 45 202 419 1,372 283 335 511 639 317 277 1,992 1,106 422 127 208 180 253 160 078 30 541 182 491 80 294 590 18 305 1,461 226 210 303 339 1,051 182 304 5,099 540 596 532 717 6,335 916 193 153 167 270 85 190 1,447 272 324 66 314 258 369 587 33 101 Borrow- ers. 32 79 32 33 74 57 28 25 74 105 52 3 34 21 39 5 58 55 37 07 9 24 29 2 25 107 18 27 17 15 108 36 25 728 122 71 53 427 30 27 28 11 30 4 23 201 7 22 2 30 34 4 139 1 4 Shares in force. 2,664 2,391 1,992 1,453 777 225 2,370 2, 461 J 18, 528 5,226 2,356 b 7, 322 5,894 2,880 936 24, 294 c 19, 272ft 3,394 813 1,261 1, 226§- <«) 943 6,099 290 6,817 1,151 3,726 443 2,892 7,134 38 2,322 7,289 1,048 1,254 2,321 2,029 9, 0384 1, 234* 1,781 48, 992 4,433 4,310 11, 849 5, 423-# 6 50, 633 7,488 1,603 2,171 1,168 2,609 628 1,247 9,406 1,719 b 3, 012 552 2,405 1,786 3,931 5,180 188 588 Mar- Real gin- estato loans. 57 41 37 51 29 10 153 32 57 (a) ■ 12 (a) 58 28 13 57 101 52 < • 3 . "■ 24 ' 22 "19 5 54 (a) 53 23 02 9 21 23 (a) (a) ' 72 (a) 16 21 (a) 88 24 23 511 74 37 53 (a) 30 10 39 (a) 23 92 (a) 17 (a) 25 22 (a) 166 (a) 4 clnclading 1,255ft shares, raatnriu: the serial plan. value, $250, issued by the association while operating under 186 REPORT OF THE COMMISSIONER OF LABOR. Table I NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW YORK— Continued. Mar g it num- ber. locality. 3\"aiue of association. NEW YOItK CO.— COUC'il. New York. JNew York. Now York. New York- New York. New York. New York. New York. New York. New York. New York., New York. New York- New York. New York. NIAGAUA COUNTY. Lockport -Niagara. Falls North Tonawanda .. . North Tonawanda. Suspension Bridge.. ONEIDA COUNTY. Homo . Utiea . Utica. Utica. ONONDAGA COUNTY. Syracuso . Syracuse . Syracuso . Syracuso . Syracuso . Syracuso . Syracuse . Syracuse . ONTARIO COUNTY. Geneva . God ova . Geneva . OllANGE COUNTY. Central Yallcy. Middletown ... Moni'oo Newburg. Port Jem& Port Jervis Port Jervis Port Jervis OBLEANS COUNTY. Albion. . Medina - OSWEGO COUNTY. Oswego. Oswego. Oswego . Oswego . Oswego. Oswego. Silver Lake Park Building and. Loan Star -Cooperative Building and Loan Stuyvesant Cooperative Building and Loan., Sun. and Evening Sun Building, Mutual Loan } and Accumulating Fund. Teacners' Building and Loan Teachers' Cooperative Building and Loan Tcacbers' Emiitable Building and Loan Tremont Building and Loan - Twenty-third "Ward Cooperative Building and Loan. . Union Building, Loan, and Savings Union Square Permanent Cooperative Building and Loan. United Building and Loan Bank United States Building-Loan League "West End Cooperative Building and. Loan West Side Mutual Building, Loan, and. Savings .. Lockport Savings and Loan NiagaTa Permanent Savings and Loan. Homestead Loan.- North Tonawanda Aid and Savings . . - Niagara Savings and Loan Mntnal Savings, Loan, and Building Corn Hill Building and Loan Homestead Aid Savings Building ami Loan Atlantic Savings and Loan Central City Building and Loan Central New York Cooperative Savings and Loan Cosmopolitan Building and Loan Eastern Building and Loan Empire Co operative Savings, Building, and. Loan Safety Investment and Loan Company Syracuse Cooperative Savings and Loan Geneva Permanent Loan and Savings . People's Building, Loan, and Savings . Universal Savings and Loan Company Union Buildin g and Loan Homestead Building and Loan "Woodbury, Monroe, and Chester Building Newburg Building and Loan Cooperative Loau and Savings Orange County Building and Loan, No. 2. Port Jervis Bnilding and Loan, No. 1 Port Jervis Eeal Estate Loan md Loan . . Orleans County Cooperative Savings and Loan . Medina Savings and Loan Dime Building and Loan Frontier Permanent Building and Loan . Home Savings and. Aid Lake City Building and Loan Reciprocity Building and Loan Security Building and Loan Date of organization. Aug. 20, 1S92 Feb. 25,1588 Ayr. 16,1888 Juno 22, 1888 Juno — , 1888 fcJuly 0,1888 Jan. 20,1890 May 1, 1884 Apr. 2, 1888 Sept. 23, 1888 Sept. 12, 1888 Feb. 1, 1891 Dec. 15,1890 Oct. 3; 1887 Aug. 17, 1888 Jan. 2, 1SS8 Sept. 5,1887 May 5,1890 Mar. 17,1887 Sept. 29, 1889 July 31, 1868 Jan. 29,1891 Peb. 4, 1884 Apr, 21,1391 Mar. 21, 1892 May 27,1891 Mar. 14,1889 Mar. 30,1892 Mar. 1, 1890 Peb. 13.1892 June 23; 1890 Feb. 4, 1868 Apr. 19,1886 Dec. 22,1887 Apr. 1, 1891 Apr. Dec. Feb. Apr. Aug. 10, 1890 12,1888 18,1890. 16, 1886 13,1891 Aug. 13,1886 June 3, 3868 Aug. 7,1891 a Not roported. July 9, 1889 Mar. 20,1888 Mar. 5, 1890 Sept. 25, 1888 Jan. 10,1888 Aug. 14, J890 Oct 16,1890 Aug. 1,1890 CHAPTER I. — GENERAL TABLES. 187 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW YORK-Continued. Local or national. Local . Local . Local . Local . Local Local National Local Local Local Local Local National. Local Local Local . Local . Local . Local . Local . Local . Local . Local . Local . Hational National... Local...... National... National... National. . . National. . . Local Local National... National... Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Permanent, termi- nating, or serial. Permanent . . Serial Serial Serial Serial Serial Permanent. - Serial Serial Permanent . . Permanent . . Permanent . . Permanent.. Permanent . - Serial Serial Permanent . . Serial Terminating Permanent . . Permanent . . Serial Serial Serial Serial Permanent . . Permanent . . Serial Serial Permanent . . Permanent . . Serial Permanent . . Permanent . . Permanent . . Serial Serial Serial Sorial Serial Serial Sorial Serial Serial Serial Permanent . . Permanent . . Terminating. Permanont . . Permanent .. Permanent . . Shareholders. Male. Female. Total 15 381 (a) 166 (a) 164, 137 (a) 192 (a) 243 (a) - 445 251 (a) 419 97 (a) (a) 50 139 604 (a) (a) 319 187 (a) (a) (a) (a) (a) (a) 94 320 102 198 229 270 (a) 207 172 223 225 (0) (a) 201 (a) (a) 150 33 (a) 767 (a) 140 49 (a) t (a) 40 (a) (a) 370 24 (a) (a) (a) (a) (a) (a) (a) 87 126 (a) (a) (a) 37 117 17 73 59 150 (a) 81 175 (a) (a) (a) (a) 15 531 216 513 933 489 304 188 229 241 160 246 CO 5-11 297 701 789 121 157 30 71 171 941 47 522 383 259 1,247 6,540 750 586 480 4,343 162 131 437 119 271 288 420 310 204 250 398 330 , 002 54 365 150 123 Borrow- ers. 103 25 184 146 43 151 6 48 5 223 1 32 65 39 20 304 34 34 101 130 548 14 120 17 60 15 78 87 00 100 45 100 15 28 Shares in force. 91 3,004 1,763 4,395 6,140 3,355 1,983 2,78G 1,931 1,905 1,360 759 966 4,262 1,367 3,958 0,001 758 1, 535 88 512 1,470 8,018 542 3,097 1,675 1,152 7,901 35,144 5,092 4,916 3,725 11,078 36, 826 565A 518 3,008 470 2, 235J 2,006 2,797i 2, 828§ 2,067 772 1,737 4,070 14, 933 321 0,159 2,043 1,306 Peal estate loans. (a) 43 24 56 (a) 43 (a) (a) 145 37 143 6 41 5 227 (a) 39 65 20 20 296 34 35 83 120 425 7 14 63 17 76 15 128 86 9 100 21 81 15 21 &Date of incorporation. 188 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NE VV VORE- Continued. Locality. num- ber. OTSEGO COUNTY. Oneo:ita QUEENS COUNTY. Flushing — Hempstead Jamaica Long Island City Long Island City Port "Washington Eockvillo Center "Whitestone RENSSELAER COUNTY, Hoosick Falls Troy Troy RICHMOND COUNTY. Port liiclimond Port Richmond Stapleton ..j Tottenvillo "West New Brighton. ROCKLAND COUNTY. Xvack -. Spring Valley . Spring Valley . Spring Valley . Sufl'ern SAINT LAWRENCE COUNTY Canton Gouvemeur . Norwood Ogdensburg . Potsdam SCHENECTADY COUNTY. Schenectady STEUBEN COUNTY. Avoca Bath Cohooton Corning Hornellsville North Cohocton . Wayland ULSTER COUNTY. Iloudout WARREN COUNTY. Glens Falls WAYNE COUNTY. Palmyra Namo of association. Onconta Building anil Loan. Flushing Cooperative Savings and Loan Hempstead Cooperative Building and Loan, — 8ueen8 County Cooperative Savings and Loan. entral Permanent Building and Loan Long Island City Building and Loan Port "Washington Building and Loan Eockvillo Center Savings and Loan "Whitestono Cooperative Savings and Loan Permanent Savings and Loan Industrial Building, Loan, and Savings- Pioneer Building. Loan, and Savings . . . Northfield Building, Loan, and Savings -■- North. Shoro Building, Loan, and Savings --'- Edgewater Cooperative Savings and Building-Loan . Richmond County Building and Mutual Loan Staten Island Building, Loan, and Savings Nyack Building, Cooperative Savings, and Loan. Cooperative Savings and Loan Home Building and Loan Provident Budding and Loan Ramapo Bulling and LoaD, No. 1 Canton Savings and Loan Gouverneur Savings and Loan Norwood Savings, Loan, and Building . Ogdensburg Savings and Loan Potsdam Savings, Loan, and Building . Schenectady Building, Loan, and Savings . Avoca Cooperative Savings and Loan Bath Savings and Loan Cohocton Dime Savings and Loan Corning Cooperative Savings and Loan Hornellsvillo Cooperative Savings and Loan . Union Dime Savings and Loan "Wayland Dime Savings and Loan Homesoekers' Cooperative Savings and Loan Dato of organization. Apr. 27,1838 Mar. Mar. May Nov. Juno Oct. Nov. Aug. G, 1888 10, 1889 22, 1888 27. 1888 22,1887 12, 1891 29. 1889 .31, 1891 June 18, 1889 May 1,1889 Feb. 17,1889 Mar. 2, 1887 Apr. 28,1888 Apr. 3, 1887 Dec. 15,1881 Feb. 8, 1876 June 16, 1888 Sept. — , 1889 Mar. 1,1891 May 25,1888 Feb. 1,1887 Feb. 27,1889 Jan. 14,1892 May 3, 1890 Apr. 21,1888 May 19,1890 Apr. 9,1889 Oct. .-3MSS9 F^eb. 4, 1890 Feb. G, 1890 May 31,1889 Mar. 27,1888 Mar. 14,1891 Jan. 20,1888 July 13,1883 Glens Falls Savings and Loan | Dec. 2,1889 "Wayne Building, Loan, and Accumulating Fund . . . a Kot reported. Mar. 8, 1888 CHAPTER I.— GENERAL TABLES. 189- Table B.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW YORK— Continued. Local or national. Permanent, terrai nating, or serial. Shareholders. Male. Female. Total Borrow- ers. Shares i force. Kcal estate loans. Mar-" gin- al num- ber. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local - Local . Serial . Serial ...... Serial Serial Permanent Serial Serial Permanent Serial Permanent Serial Serial Serial Serial Serial Serial Serial Serial Serial Permanent Serial Serial Permanent Permanent Permanent Permanent Permanent Serial Serial Permanent Perma-nent . Serial Serial Permanent Permanent Serial. Permanent 165 52 247 78 60 84 ]fl0 1GG 851 (a) 74 279 2SG («) (a) (a) 55 20 (a) («> 59 15 194 08 178 95 141 75 108 51 390 281 203 84 49 171 <«) 500 232 96 (o) 23 03 21 129 9 18 14 90 20 320 (a) (,«) 29 131 (a) 222 171 20 (n) 2*;; 101 228 73 376 87 78 98 286 186 1,171 631 108 343 381 403 459 75 74 262 273 210 159 077 287 73 302 202 722 403 110 212 43 100 3 7 5 19 121 100 11 51 94 105 40 11 33 147 29 20 50 31 170 84 19 S3 National Permanent 1,000 2,909 487 1, 269§ 323 2,657 284 559 522 1,776 1,069 6.643 3,551 785 2,440 2,892 2,786 ,558 -192 142 339 ,289 958 728 601? 2,599 1,0714 1.980 271 4,745 5, 073i 6,016 1,895 2,579 4,867 2, 394J 100 11 ■60 81 301 (a) 194 31 19 49 33 227 91 20 83 190 REPORT OF THE COMMISSIONER OP LABOR. Tabus S.-NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS-Cont'd. HEW YORK— Concluded. Mar- gin- al DU1U- ber. Locality. Is'ame of association. Bate of organization. 1 WESTCHESTER COUNTY. Jan. 2, 1891 Juno 8,1887 Sept. 15, 1888 Juno 25, 1890 May 1,1890 May 1, 1889' Jan. 18,1888 Jan. 2.7,1890 Peekskill Cooperative Savings, Bunding, and Loan. . . 7 8 YATES COUNTY. NORTH CAROIIIVA. 10 11 12 ALAMANCE COUNTY. Graham ANSON COUNTY. Wadcsboro CABARRUS COUNTY. Concord CATAWBA COUNTY. Hickory CRAVEN COUNTY. N cwbem EDGECOMBE COUNTY. Tarboro — FORSYTH COUNTY. Winston IREDELL COUNTY. States ville MECKLENBURG COUNTY, Cliarlotto Charlotte Charlotte Charlotte Charlotte NEW HANOVER COUNT/, "Wilmington "Wilmington "Wilmington Wilmington Wilmington Wilmington ROBESON COUNTY. Maston ROWAN COUNTY. Salisbury Graham "Building and Loan. Anson Building and Loan . Concord Perpetual Building and Loan. Hickory^Building and Loan, Ko. 1 Newbern Building and Loan Edgeeombe Homestead and Loan Winston-Salem Building and Loan Statesville Building and Loan, No. 1. Cliarlotto Building and Loan Mechanics' Perpetual Building and Loan. Mutnal Building and Loan North Carolina Building and Loan People's Building and Loau Carolina Interstate Building and Loan . Citizens' Building and Loan Mechanics' Home North Carolina Home Building, No. 1 .. People's Perpetual Building and Loan.. Wilmington Homestead and Loan Maxton Building and Loan . Juno 10,1889 Jan. 1,1890 Juno 0,1888 Apr. 3, 1S90 Oct. 1, 1887 Sept. 1,1889 D.-c. 1,1889 IY1). 5, 1887 Aug. 4,1890 Mar. H, 1883 Apr. 6,1881 Oct. 15,1889 July 12.1881 Perpetual Building and Loan. It Not reported. Sept. 5,1890 Sept. 24, 1887 May 9, 1889 Mar. 31,1890 Sept. 16, 1889 Aug. 11, 1880 July 25, 1889 Fob. 18,1885 CHAPTER I. GENERAL TABLES. 191 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NEW YORK— Concluded. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num- ber. Male. Female. ' Total. Local Local Local Local Local 94 316 111 68 (o) (a) (a) 46 14 189 98 24 (a) (a) (a) 27 108 505 209 92 165 133 325 73 10 92 45 7 21 23 31 9 607 4,697 1,400 518 866 832 2,506 313 10 90 24 8 23 24 (a) 9 1 2 3 Permanent 4 5 6 7 8 NOB'fH CAROLINA. Locr.l Serial 31 13 44 35 538 («> D 55 9 64 30 242 (a) 10 Local 171 34 205 100 1,040 . W - 11 Serial 83 16 99 42 410 (a) 1? 90 96 57 1,034 (a) 13 Serial 98 40 138 07 1,326 (a) 14 146 27 173 78 2,464 (a) 15 Local Serial 290 37 333 125 2,078 16 Local Local Local Local 92 452 282 039 25 36 164 85 50 128 616 367 689 25 40 294 162 225 20 050 5,677 2,998 3,098 125 (a) (a) (a) (a) (o) 17 18 19 • ?,f 91 National Local Local Local 805 275 192 45 99 134 250 75 48 5 50 20 1,055 350 240 50 149 154 179 100 123 27 79 75 7,170 1,897 1,762 465 260 1.651 (a) (a) (a) (a) (ai 61 ?2 Serial 23 24 25 26 Hi 40 7 47 23 260 23 28 Serial 216 40 256 125 1,255 (a) 29 192 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NORTH CAROLINA— Concluded. Mar- gin- al num- ber. Locality. RUTHERFORD COUNTY. Ruth erf ordton UNION COUNTY. Monroe WAKE COUNTY. Ealoigh WILSON COUNTY. "Wilson Name of association. Citizens 1 Building and Loan. Perpetual Building and Loan. Tlaleigli Building and Loan. "Wilson Home and Loan. Date of organization. Jan. 10,1888 Jan. 18,1881 Aug. 1,1891 Oct. 4, 1889 NORTH DAKOTA. CASS COUNTY. Fargo DICKEY BOUNTY. ELLendalo cllA-XD FORK6 COUNTY. Grand Forks PEMBINA COUNTY. Pembina ...... t . . RANSOM COUNTY. Lisbon STUTSMAN COUNTY. Jamestown Fargo Building Ellendale Building and Loan Grand Forks Building and Loan Pembina Building and Loan Lisbon Building and Loan Fraternal Building and Loan .* _ Mar. —,1880 Jan. —,1887 Jan. —,1887 Mar. 1,1887 Mar. 7,1887 Deo. — , 1891 O5SH<0>. ADAMS COUNTY. Manchester ALLEN COUNTY. Delphos Lima Lima Lima Spencervillo . ASHTABULA COUNTY. Ashtabula Conneaut . . ATHENS COUNTY. Athens Glouster Nelsonville . Progressive Building and Loan Company. Delphos Savingaand Loan Company .. Citizens' Loan and Building Company. Lima Home and Savings South Side Building and Loan Sponcerville Home and Savings People's Building and Loan Company .. Conneaut Building and Loan Company. Athens Building and Loan Glouster Building, Savings, and Loan Company. Nelsonville Home and Savings May 14,1887 July 1,1889 Mar. 25, 1882 Sept. 26, 1887 Aug. 21,1888 Oct. 1, 1887 May 12,1890 Apr. 9, 1888 June 11, 1892 Apr. 25, I860 Jan. 1,1889 a Not reported. CHAPTER I. — GENERAL TABLES. 193 Tabus I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. NORTH CAROLINA— Concluded. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num- ber. Male. Female. Total. Local Local Local 97 73 46 114 19 17 10 12 116 90 56 126 65 34 11 46 678 456 300 795 (a) (a) (a) 46 1 2 3 4 NORTH DAKOTA. 75 13 88 17 3,138 (a) 5 Serial 42 18 60 39 303 (a) S Serial 224 59 283 130 8,894 (a) 7 Local National 38 13 51 19 451 (a) 8 Si-riiil 68 21 89 37 627 (a) 9 Permanent 62 3 65 6 510 (a) 10 Local Permanent ( { Local Local ( Local Local 33 15 48 10 116 (a) 11 441 618 (a) (a) 257 180 337 (a) (a) 34 621 955 552 906 291 187 248 179 351 115 4,360 5, 877i 4,070 4,448 176 (a) (a) (a) (a) (a) 12 13 14 15 16 la) (a) (a) (a) 339 256 54 82 1,504 1,865 (a) (a) 17 18 (a) 130 (a) (a) 10 (a) 108 140 598 25 26 143 377 562 2,841 (a) (a) (a) 19 20 21 H. Ex. 209 13 194 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHIO— Continued. AUGLAIZE COUNTY. Minster New Bremen . New Bremen . Saint Mary . . Saint Mary . . "Wapakoneta . Wapakoneta . BELMONT COUNTY, Barnesville Barnesville . Bellaire Bella-ire Bridgeport Bridgeport Bridgeport Bridgeport Flushing Martin's Ferry. . Martin's Ferry.. Martin's Ferry.. Saint Clairsville - BROWN COUNTY. Aberdeen — Georgetown , Ripley. Ripley.. RussellvilLe- BUTLER COUNTY. Hamilton Hamilton — Hamilton — Hamilton Hamilton — Hamilton Middletown . Middletown . Oxford Somerville. . . Venice CHAMPAIGN COUNTY. Mechanicsburg . TTrbana Urbana Urbana Urbana CLARK COUNTY. New Carlisle South Charleston . Springfield Springfield Springfield CLERMONT COUNTY. Amelia Batavia Bethel Loveland ... Mi ami ville . Milford Milford Minster Loan and Savings Company Citizens' Building and Loan Company Concordia Building and Savings Fidelity Building and Loan Company People s Building and Loan Company Citizens' Building and Loan Company "Wapakoneta Building and Savings Company. Home Building and Loan Company People's Building and Loan Company — Belmont Savings and Loan Company Buckeye Savings and Loan Company Enterprise Building Company Home Building Company Ohio State Savings and Loan Company... Progress Building Company People's Savings and Loan Company Fidelity Savings and Loan Company Retail Merchants' Aid and Loan Standard Home and Savings Saint Clair Building and Loan Company . Aberdeen Building and Loan Company. Safety Building and Loan Company People's Buildmg_and Loan Company Ripley Loan andBuilding Company. .__ . Russellville Building and Loan Company . Butler Building and Loan Company Dollar Savings and Loan Company Hamilton Homestead and Loan Company Home Loan and Building Mosler Building and Loan Company "West Side Build ng and Loan Germania Building and Loan Company Middletown Building and Deposit , Oxford Loan and Building Somerville Building, Loan, and Savings Company. Permanent Loan and Building Company , Mutual Loan and Savings Company Home Loan Company Industry Loan and Building Company , People's Savings and Loan Perpetual Savings and Building New Carlisle Building and Loan Company Mutual Home and Savings Citizens' Building and Loan Merchants and Mechanics' Building and Loan Com- pany. Springfield Building and Loan Amelia Building and Loan Company.. Batavin Building and Loan Companv- -T>„H,~1 17.,.! 1,1 J „_J r n_ J J Bethel Building and Loan Company Loveland Mutual Building and Loan Company. . Clermont Building, Savings, and Loan Company. Milford Building and Loan Company Milford Home Building Company Aug. 30, 1883 Feb. 22, 1886 Dec. 10,1883 May 26,1887 Apr. 2, 1890 Feb. 23,1889 July 10,1882 Mar. June Apr. May Feb. June Dec. Apr. Feb. Feb. Jan. Mar. Apr. 2. 1889 8, 1885 13, 1885 9. 1890 1, 1887 16, 1883 1. 1887 7, 1890 17, 1888 25, 1888 6, 18&1 3. 1888 7, 1888 Feb. 1, 1884 Nov. 16, 1886 Jan. 19,1886 Nov. 24, 1888 May 1, 1891 Nov. 10, 1885 Mar. 1, 1S88 ±'eb. 19, 1801 Apr. 3, 1873 Dec. 16, 1891 Apr. 27, 1887 June 1, 1889 May 6, 1886 Nov. 21, 1877 Mar. 6, 1891 Mar. 3, 1873 An?. 5, 1889 May 28, 1883 Jan. 23, 1883 Sept 30, 1892 Mar. 15, 1878 Aur. 8, 1883 Oct. 15, 1891 July Feb. 11, 1887 26, 1892 June 17, 1884 May 23,1888 Jan. 25, 1885 Mar. 13, 1889 Sept. 23, 1884 Deo. 10, 1885 Jan. 16, 1882 Mar. 14, 1885 a Not reported. CHAPTER I. GENERAL TABLES. 195 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. OHIO— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total Borrow- ers. Shares in force. Ileal estate loans. Local - Local . Loeal . Local- . Local - Local . Local. Local . Loeal . Local. Local . Local . Local . Local - Local . Local . Local . Local . Local . Local. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local. Local . Local . Local . Local . Local . Local . Local . Local - Local - Local . Local. Local . Local . Local . Local - Local . Local . Local - Local . Local . Local . Local . Local . Permanent . . Permanent ; . Permanent - - Permanent - . Permanent . . Permanent . . Permanent . . Permanent . . Serial ' Permanent - - Permanent.. Terminating Terminating Permanent - . Terminating Permanent . . Permanent . . Permanent .- Permanent. - Permanent . . Permanent . - Serial Serial Terminating Permanent . - Permanent.. Permanent. - Permanent . - Permanent . . Permanent. . Permanent . . Permanent . . Permanent . . Permanent. - Permanent . - Serial Permanent .. Permanent . . Permanent -- Permanent .. Permanent . . Permanent . - Permanent . . Permanent - - Permanent - . Permanent . . Permanent . . Permanent . . -Permanent . - Permanent .. Permanent . . -Permanent . . Permanent - - 273 209 221 (a) (a) (a) 358 113 184 (a) 1! (a) 13 183 79 (a) 111 333 119 715 (a) 129 1,627 570 370 229 (a) 396 50 322 129 (a) 87 (a) (a) 122 59 (a) (a.) 47 130 67 (a) 54 146 247 25 82 93 {a) (a) (a) 124 57 84 773 625 (a) (a) (a) (a) (a) 56 270 68 (a) 10 813 30 209 40 (a) 276 18 (a) (a) (a) (a) (a) (a) 298 291 314 364 186 459 482 170 268 2,469 1.475 76 49 398 103 148 231 13 235 101 170 612 187 71 794 313 139 2,440 600 579 269 2,945 672 68 152 HO 110 931 210 65 161 1,167 82 217 111 372 76 211 314 104 102 97 129 40 124 185 59 121 497 355 43 30 78 -;.; 48 55 4 42 40 35 74 264 187 47 174 123 19 640 41 132 107 722 403 31 144 63 13 434 42 5 103 26 24 73 20 107 23 116 76 1,316 981 981 1,725 865 1,268| 1, 643J 816 1,496 6, 832 16, 600 600 275J 1,221 717 71)5 978 26 1,667 680 2,877 964 133 1.824J 917 393ft 15, 499 666 4,346 1,728 12, 747 2,670 176 5->a 592 1,183 270J 625 2,893 472 181 1,323 867 6,472 312 622 166 1,325 174 487J (a) (a) (a) (a) W (a) (»> (a) (a) 251 (a) (a) (a) (a) (a) (a) (a) (a) 42 (a) (a) (a) (a) (a) la) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) la) (a) la) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 196 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHSO — Continued. >Jame of association. Datoof organization. CLERMONT CO.— COnc'd. Mount Carniel New Richmond Owensville Tobasco CLINTON COUNTY. Blanchester Blanchester -. Blanchester Midland City Sabina Wilmington "Wilmington COLUMBIANA COUNTY. East Liverpool East Liverpool East Liverpool East Palestine Leetonia New Lisbon Salem Wellsville Wellsville Wellsville Wellsville .' Wellsville COSHOCTON COUNTY. Coshocton Coshocton CRAWFORD COUNTY. Bueyrus Bueyrus Crestline Galion Galion CUYAHOGA COUNTY. Bedford Brooklyn Village Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland : Cleveland Cleveland Cleveland Cleveland '. Cleveland Cleveland Cleveland Cleveland DARKE COUiiTY. Arcanum Greenville Greenville Versailles DEFIANCE COUNTY. Defiance Hicksville Mount Carmel Building and Loan Company Clermont Building, Loan, and Savings Company Boston. Building, Loan, and Savings Company Union Building and Loan Company Blanchester Building and Loan Company Blanchester Loan and Deposit Company People's Building and Loan Company Midland City Perpetual Building and Loan Company . . Sabina Building and Loan Company Union Loan and Savings Company Wilmington Homestead Company East Liverpool Savings, Building, and Loan Company Potters Building and Savings Company Witena Building and Loan Company East Palestine Building and Loan People's Saviugs and Loan Company..'. People's Savings and Loan Company Salem Savings and Loan Commny Central Building and Loan Company ; Columbian Loan Company Industrial Building and Loan Company Perpetual Savings and Loan Company! Union Loan Company Citizens' Building and Loan Home Building, Loan, and Savings Company Bucyrus Loan and Building Company People's Savings, Loan, ana Building Company. . ..... Crestline Building and Loan Galion Building and Loan Home Building, Loan, and Savings Company Bedford Savings and Loan Brooklyn Savings and Loan Brooklyn Building and Loan Company Cleveland Permanent Building and Loan Company .. Cleveland West Side Ban Verein Company Employes' Savings, Loan, and Building Company Home Savings Company Hungarian Building and Loan, No. 1 Industrial Building and Loan Company Mutual Building and Investment Company Ohio National Building and Loan Company Ohio Savings. Loan, and Building Company Savings, Building, and Loan Company South Side German Building, No. 1 Union Building and Loan Company Western Keserve Savings, Building, and Loan Com- pany. Arcanum Building and Loan Darke County Building Company Greenville Building Company Versailles Building and Loan Company . Sopt 12, 1800 May 25,1886 Apr. May 1, 1888 2, 1888 Mar. 6, 1SS3 Dec. 18, 1890 Dec. 2G, 1800 Mar. 17, 1891 Mar. 28, 1888 Jan. 18, 1890 May 8, 1886 Apr. 10, 1886 Feb. 11, 1889 Mar. 13, 1885 Mar. 5, 1802 Apr. 20, 1889 Mar. 16, 1889 Deo. 22, 1891 Sept. 10, 1892 Jan. 7, 18S2 June 12, 18S8 Aug. 31, 1891 July 10, 1885 Feb. 22, 1892 Apr. 25, 1883 Feb. 19, 1887 Jan. 24, 1888 Oct. 23, 1891 Feb. 13, 1888 June 9, 1891 Dec. — , 1891 May 25, 1888 May — , 1887 Nov. 21,1888 Dec. — , 1886 >Oct. 14, 1891 Dec. 24, 1891 Feb. 11, 1888 May 6, 1889 iMar 3, 1891 July 17,1891 i''«b. 14, 1889 Mar. 25, 1889 Feb. 1,1892 June 23, 1891 Feb. 6, 1892 Sept. 14, 1885 Apr. 16, 1881 June 8, 1883 Dec. 20, 1887 Defiance Home, Savings, and Loan May 5,1888 Hicksville Building, Loan, and Savings Company Jan. 11^ 1890 a Not reported. CHAPTER I. GENERAL TABLES. 197 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHIO— Continued. Local or national. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local . Local . Local . Local . Local Local Local Local Local Local local — Local Local Local National. Local Local Local Local Local Permanent, termi- nating, or serial. Permanent . Permanent . Permanent . Permanent . Terminating . Permanent . . . Permanent . . . Permanent... Permanent, . . Permanent . . . Permanent . . . Terminating . Permanent — Terminating . Permanent . . - Permanent . . . Permanent . . - Permanent . . . Permanent . . . Terminating . Terminating . Permanent... Terminating . Permanent . Permanent. Local Local Local Local Local Looal Permanent. Permanent . Shareholders. (ft) 2C (a) (a) (a) 103 90 (a) 69 150 (ft) 71 (a) (a) i (a) (a) Permanent . . Permanent . . Permanent. . Permanent - . Permanent . . Permanent . . Permanent . . Permanent . . Permanent . . Serial Permanent . . Permanent.. Terminating Permanent. . Permanent . - Pormanent.. Permanent . - Permanent . . Serial Permanent. . Permanent.. Permanent . Serial Permanent . Permanent . 354 02 (a) 87 145 408 283 .48 (a) (a) 312 280 71 26 124 52 538 (a) 140 549 (a) 213 no 136 326 (a) Female. Total i (a) 25 (a) (a) (a) (a) 376 (a) (a) 9 <«) 12 22 20 (a) 164 10 («) 172 124 32 101 152 (a) 19 7 50 13 230 (a) 57 185 (a) 158 20 (a) 11 Borrow- ers. 64 232 259 90 55 192 166 116 128 193 242 37 1,090 58 104 91 268 52 87 08 182 51S 72 136 159 513 412 177 509 435 58 222 379 539 348 90 33 174 65 768 1,782 197 734 150 371 130 154 78 223 961 50 | 9 58 166 34 21 265 46 11 21 57 2 17 54 57 135 46 120 109 18 146 7 80 149 49 72 Shares in force. <«) 4 52 19 231 265 103 207 (a) 27 64 20 104 156 223 19 Real estate loans. "Mar-- giu- al num- ber. 127 382 491 203 750 098 301 420 906 987 248 7, 450| 284 282 289 1,191 192 721 381 i 983 3,015 490 501 305 1,414 1,174 860 1.839J 1,512 235 917 .2,42188 2,829 1,873 6G8 1,071 951 703 5, 601A 14, 820 2,352 1,860 528 2.000 857 667J 2414 1,664 1, 032JV 3,626 412 (a) (a) (a) (a) (a) (ft) (a) (a) (a) (a) (a) (a) 264 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) la) (a) (a) (a) 1,149 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) («) (a) («) (a) (a) (a) (a) 6 Bate of incorporation. 198 REPORT OF THE COMMISSIONER OP LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. O HI © —Continued. Locality. Name of association. Bate of organization. DELAWARE COUNTY. Delaware Delaware ] >ela-vrare ERIE COUNTY. Sandusky Sandusky Sandusky FAIRFIELD COUNTY. Baltimore Lancaster Lancaster Lancaster Lancaster FAYETTE COUNTY. Blnomingburg Jeffersonville Washington C. H "Washington C. H FRANKLIN COUNTY. Columbus Columbus Columbus Columbus Columbus Columbus Columbus Columbus Columbus Columbus Columbus Columbus Columbus Columbus FULTON COUNTY. Delta Wauseon GALLIA COUNTY. Gallipolis GREENE COUNTY. Jamestown Xenia Yellow Springs GUERNSEY COUNTY Cambridge Quaker City HAMILTON COUNTY. Anderson Ferry Bond Hill Carthage Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Citizens' Building and Loan Company - Fidelity Building and Loan Company People's Building and Loan Company HomeSavings and Loan Company People's Loan and Savings Company Savings, Building, and Loan Company Liberty Township Loan and Building Company Citizens' Loan and Building Company New Plan Savings and Loan Company Perpetual Savings and Building Company Square Deal Savings and Loan Company Bloomingburg Building 3Dd Loan Jefferson ville Building and Loan Company Home Building and Loan Company People's Savings and Loan Company Allemania Building and Loan Company Central Building, Loan, and Savings Company Columbian Building, Loan, and Investment Company Columbus Savings East End Building, Loan, and Savings Company . . . Franklin Loan and Savings Company German Building and Loan Company Hibernian Savings, Building, and Loan Company... Lilley Building and Loan Company Mutual Savings and Loan \ Ohio State Savings and Loan Park Building, Loan, and Savings Company People's Building and Loan Company Railroad Employes' Building and Loan Company Delta Building, Loan, and Savings Company Fulton County Building, Loan, and Savings Com- pany. Gallipolis Savings and Loan Company Jamestown Savings and Loan People's Building and Savings Company Mutual Savings Cambridge Loan and Building Company Home Building and Loan Company Anderson Ferry Building and Loan Company Bond Hill Building Company Carthage Savings and Loan" Abigail Street Building Company Accommodation Loan and Building Company. Active Building and Loan Company , Addison Building and Loan Company Advance Building and Loan Company a Not reported. Feb. 4, 1882 Jan. 21, 1887 Sept 14, 1885 July 25, 1892 Dec. 5, 1889 May- — , 1888 Apr. 30, 1890 i'eb. 9, 1888 June 1,1891 June 28, 1889 June 15, 18?2 May 8, 1888 Mar. 1, 1888 Dec. 1, 1885 Jb'eb. 1, 1890 Mar. 9, 1888 Feb. 18, 1889 May 8, 1891 Apr. 3, 1883 Apr. 4, 1890 Apr. 25, 1890 Sept. 25, 1882 June 23, 1890 Dec. 29, 1888 Oct. 9, 1886 Apr. 27, 1891 Jan. 3, 1890 Nov. 30, 1888 July 24, 1885 May 25, 1889 Apr. 16, 1889 July 5, 1886 Apr. 9, 1889 Sept. 22, 1885 Nov. 18, 1887 Apr. 21, 1885 Apr. 2, 1892 Aug. 20, 1887 May 30, 1884 Mar. 14, 1874 Jan. 1,1881 Mar. 13, 1891 Aug. 21, 1889 Sept. 5, 1887 Nov. 10, 1890 CHAPTER I.— GENERAL TABLES. 199 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHIO— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total. Borrow- ers. Shares in force. Heal estate loans. Local — .Local . . . Local . . . Local... Local . . - Local . . . Local... Local... Local. -- Local . . . Local . . . Local . . . Local - . . Local . . . Local . . . Local - - - Local . . . Hational Local--. Local . - - Local . . . Local - . - Local - - - Local . . . Local . - - Local . . . Local . . . Local . . - Local . . . Local — Local . . . Local Local Local Local Local Local Local Local Local Local Local Local Local Local Terminating . Permanent . . . Permanent . . . Permanent . Permanent . Permanent . Permanent... Terminating . Permanent Serial Permanent . . . Permanent . Permanent - Permanent . Permanent . Permanent — Permanent - - . Permanent . - . Permanent — Perinanont.. . Permanent.-. Terminating . Permanent . - - Permanent . . - Permanent . . . Serial Pernmient .*. . Permanent . - . Permanent — Permanent . Permanent - Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent <«0 (a) (a) 101 132 (a) (a) (a) 3( (a) (a)' 17 (a) 187 5U0 1,497 45 (a) (a) 128 281 (a) 584 118 580 (a) («) (a) 03 421 133 (a) (al 107 160 119 27 109 106 345 (a) (a) (a) (a) (a) (a) 207 (a) (a) (a) (a) 180 97 871 19 (a) 40 (a) 177 67 417 (a) (a) (a) 15 309 87 (a) (a) 95 153 23 27 35 64 26 135 591 010 184 122 188 42 394 431 509 530 79 21 009 318 280 367 603 2,368 64 541 86 168 077 404 761 185 997 1.200 313 1, 061 78 730 220 268 108 95 262 313 142 54 144 170 371 30 188 205 164 117 121 137 20 13 296 101 03 90 130 416 13 24 306 90 77 30 207 327 176 54 463 1,899 3,270 SS5i 460 519 165 2,156 2, 523 2,938 2,134 617 63 3,202 1,340 2,007 2, 086 4,218 11,112 361 3,712 702 1,046 4,508 1, 7491 3, 309 1,015 7,172 10, 376 1,787 5.619 150 3, 657 367 1,788 358 342 1,437 1,200 317 260J 495 703 371 (a) («) (a) (a) (a) (a) <«> (a) 124 (a) (a) (a) (a) (a) (a) (a) {a) W (a) (a) (a) (a) (a) (a) (a) (a) 207 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a.) (a) (a) (a) 200 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. O IIIO- Continued. Locality. Name of association. Datoof organization, HAMILTON CO.— Cont'd. Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincin nati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati. Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati . - . Cincinnati 1 . . Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinn ai i Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati Cincinnati iEtna Loan and Building Company Allemania Loan and Building Company, No. 2 Alpha Building and Loan Company American Loan and Building Company American Loan and Savings Company Apollo Building and Loan Company Aragon Building and Loan Company, No. 2 Arion Loan and Building Company Atlantic Building Company Atlas Loan and Building Company Aurora Loan and Building Company Avondale Loan and Building Company. Avondale United Savings Loan and Building Com- pany. Baltimore Avenue Loan and Building Company Bank Street Building Company Bavaria Building and Loan Company Bay miller Street Loan and Building Company Beehive Building and Loan. Company Bellevue Building Big Boom Loan and Building Company. * Big Four Building and Savings Company Bonanza Building and Savings Company Bon Ton Building and Loan Company Boulevard Loan and Building Company Brighton Cable Eoad Loan and Building Company... Brighton Hall Building and Savings Company Broadway Building and Loan Company Browne Street Building, No. 2 Buckeye Building and Loan Company Burnet "Woods Building and Savings Company Business Men's Building and Loan Company Butchers and Drovers' Building and Savings Com- pany. Cabinet Loan and Building Company Calhoun Loan and Building Company, No. 1 Calhoun Loan and Building Company, No. 2 Camp "Washington Building, No. 1 Carlisle Building and Loan Company Centennial Building Central Avenue Loan and Building Company Central "Walnut Hills Building and Loan Company . . Champion Building, No. 2 Cincinnati Buildingand Deposit Company Cincinnati Loan and Buildiug Company Cincinnati Workingmen's Club Building and Loan Company. Cincinnatus Loan and Building Company Cincinnatus Savings, Loan, and Building Company... Citizens* Building. No. 2 Citizens' Grift Building and Loan Company City and Suburban Building and Loan Company City Hall Loan and Building Company Clark Street Loan and Building Company Cleveland Building Company Clifton Heights Loan and Building Company, No. 1 .. Clifton Heights Loan and Building Company, No. 2 . . Clifton Mutual Savings and Building Company Climax Building and Deposit Company Colerain Building and Loan Company College Hill Loan and Buildiug Company Columbia Building and Loan Company Columbian Building and Savings Company Columbus Loan and Building Company Commercial Building and Loan Company Commonwealth Building, Loan, and Savings Company Concordia Building Congress Building Company \ Consolidated Building and Savings Company Court House Loan and Building Company " Court Street Market Building and Savings Company. Crown Deposit and Loan Company Cullom Building and Loan Company a Not reported. Apr. Dec. Nov. Aug. 6Nov, July Apr. Mar. Mar. Dec. Aug. Apr. May 1, 1884 1,1874 1, 1886 31, 3880 27, 1891 27. 1881 26. 1881 22, 1887 1, 1880 14, 1883 30. 1887 17. 1882 31,1888 Oct. 12,1889 (a) Oct. 1,1800 Sept. 17, 1885 Feb. 5,1885 Mar. 4, 1879 Sept. 7,1887 Aug. 3,1882 June 28, 1889 May 1, 1886 Nov. 1,1890 Nov. 27,1886 Oct 28,1881 Nov. 15. ] 882 May I! 1879 June 12, 1885 Sept. 22, 1890 Juno 11,1885 Jan. 18,1882 Feb. Apr. Mar. Juno Jan. Feb. Nov. Aug. Mar. Oct, June Apr. 6, 1885 8, 1881 1, 1887 1, 1887 12, 1886 1, 1876 8. 1S83 24, 1890 2,1879 24, 1883 — , 1883 8, 1881 May 1, Feb. 21, Mar. 10, Apr. 11, Nov. 13, Oct. 7, June 30, May 18. Aug. 15, May 1, Juno 1G. June 4, Oct. 23, Mar. 4, Mar. 22, Jan. 1, Aug. 4, Apr. 7, Mar. 1 , 'July 19, May 1, Oct. 18, Nov. 2, Aug. 9, Jan. 26, Mar. 2. 1885 1890 1879 1883 18S4 18fl0 1884 1885 1885 1891 1884 1884 18S4 1884 1883 1892 1884 1883 1884 1878 1882 1885 1883 1883 1889 1889 CHAPTER I. — GENERAL TABLES. 201 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. OKI O— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total Borrow- ers. Shares in force. Beal estate loans. Local . . Local . . Local . - Local . . Local - - Local . - Local . - Local . - Local . . Local - - Local . . Local . . Local - - Local - - Local. - Local'.. Local.. Local . . Local . . Local . . Local - - Local.. Local . . Local . . Local . . Local . . Local . . Local . . Local . . Local . . Local . . Local . . Local . Local . . Local . . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local . Local . Permanent . - Permanent . . Permanent - - Permanent.. Permanent - - Permanent.. Permanent . . Permanent . . Permanent . . Permanent-. Permanent . . Permanent . . Permanent - . Permanent . . Permanent . . Permanent . . Permanent - . Permanent . . Permanent . . Permanent . . Permanent . . Permanent.. Permanent . . Permanent.. Permanent . . Permanent . . Permanent . Permanent . . Permanent . . Permanent . . Permanent . . Permanent . . Permanent . Permanent. Permanent . Permanent . Permanent . Permanent . Permanent . Permanent - Permanent . Serial Permanent . Permanent . Permanent .. Permanent . . Permanent j. Permanent.. Permanent.. Permanent . . Permanent . . Permanent . . Permanent . . Permanent . . Permanent . . Permanent . . Permanent - - Permanent.. Permanent . . Permanent . . Permanent . - Permanent . . Permanent . . Permanent . . Permanent . . Permanent . . Permanent . . Permanent . . Permanent . . Permanent . . 223 56 131 32 57 300 191 (a) 322 172 210 95 (a) 84 209 220 106 88 410 49 128 57 100 256 120 393 141 130 271 214 271 169 (a) 108 92 328 83 120 167 281 147 152 110 138 148 151 402 120 117 80 113 39 191 323 115 192 104 87 80 189 104 247 189 474 126 177 254 60 00 40 10 10 173 109 (a) 22 89 13 182 40 (a) 02 73 18 52 83 28 89 16 23 68 127 100 79 40 139 58 98 07 29 12 71 105 36 90 35 100 47 200 47 102 21 64 15 191 172 57 123 60 113 31 167 125 136 34 255 03 90 31 15 283 116 177 42 73 569 300 183 344 261 102 392 135 140 178 117 271 299 124 140 493 77 217 73 129 324 247 499 220 170 410 272 300 230 (a) 120 103 433 119 210 202 381 180 335 168 170 237 198 002 167 219 101 177 54 382 495 172 315 104 200 111 350 229 383 223 729 189 273 285 41 107 53 25 75 42 9 85 16 18 25 6 47 40 37 20 76 7 44 5 13 66 37 130 45 15 60 51 50 53 ) 28 10 77 18 12 43 70 23 85 17 23 47 45 103 22 47 18 29 2 48 94 39 91 34 7 23 77 40 98 30 135 23 55 43 (a) 492 308 010 1684 277 1,877 1, 196J 856 1,007 865 382 920 549 780 508 1,534 1,290 485 615 2,260 275 505 292J 639 1,315 814 2,209 712 850 1,991 1,260 1,359 657 •108 405 904 1,182 005 670* 459* 1,749 552 927 720 719 1, 038* 700 2,630 467 li! IS 312 722 178 2,351 - 1,719 702 803 233 1, 020J 202 953 616 1,190 692 3,225 757 1,390 1,157* 96" (a) (a) («) (a) (a) (a) (a) (a) (a) (a) (a) <«) (a) (a) (a) (a) («) (a) (a) («) (a) (a) (a) ("> (a) (a) (a) (a) (a) (a) (a) («) (a) (a) (a) (a) (a) (a) <«.) 79 (a) (a) (a) (a) fa) (a) (a) («) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 3-: (a) (a) (a) 6 Date of incorporation. 20? REPORT OP THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. OHIO— Continued. Mar- gin- al num- ber, i Locality* Name of association. Date of organization. HAMILTON CO.— cont'd. Cin Cine Cine Cinci Cinci Cine: Cinci Cine' Cine: Cine: Cine: Cine: Cine: Cine: Cine: Cine: Cine: Cine Cine: Cine: Cine: Cine j Cine Cine: Cine Cine Cinci Cine' Cine: Cine Cine Cine- Cine: Cine Cine: Cinci Cine: Cinci Cine: Cinci Cinci Cine: Cine Cine Cine Cine Cine Cine Cine: Cin Cine: Cine: Cine: Cin. Cin. Cine Cin Cine: Cine: Cine: Cin Cine Cine: Cine: Cin Cine: Cine: Cine: Cine: Cin Cine Cin. Cine: nnati. nnati nnati . nnati. nnati. nnati . nnati. nnati. nnati .nnati. nnati nnati nnati nnati. nnati. nnati. nnati nnati nnati nnati nnati nnati. nnati nnati nnati nnati. nnati nnati nnati innati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnati nnali nnati nnati. nnati nnati. nnati. Custom House Building and Loan Company Debolt Loan and Building Company Delta Loan Company Deutscber Landwehr Building and Savings Company Domestic Loan and Building Company Douglas Loan and Building Company Eagle Building Company East End Loan Company East "Walnut Hills Building and Loan Company Eighteenth Ward Loan and Savings Company Eintracht Loan and Building Company Electric Loan and Building Company Eleventh "Ward Building, No. 2 Elmont Building and Savings Company, No. 1 Elmont Building and Savings Company, No. 2 Elm Street Industry Loan and Building Company Elsmere Building and Loan Company Emperor Building and Loan Company t Equality Building Company Equitable Loan and Building Ernst Station Loan and Building Company Everett Street Loan and Building Company Excellent Loan and Building Company Excelsior Building .. Exposition Building andXoan Company Extension Loan and Building Company Eairmount Building and Savings Company Family Building, No. 1 Fifth Ward Building Findlay Loan andBuildingCompany, No. 3 Findlay Market Loan and Building Company, No. 2.. First Ward Building and Loan Company... Fischmann Loan and Building Company Fortschritt Ban Yerein Fortuna Loan and Building Company Forward Building and Loan Company Foundation Building and Loan Company Fountain Square Building and Loan Company Fourteenth ward Loan and Building Company Fourth Ward Building and Loan Company Freeman Avenue Loan and Building Company, No. 2. Front Street Building Company Fulton Building and Loan, No. 4 Fundamental Loan and .Building Company Funk Loan and Building Company Furlong Loan and Bui lding^ Company Garden Deposit and Loan Company Garfield Building Company, No. 1 Garfield Loan and Building Company, No. 2 Garnett Building and Loan Company Gem Building and Loan Company Germania Building, No. 3 Germania Loan and Building Company, No. 2 Germania Loan and Building Company, No. 5 (Jest Street Building, No. 1 Gest Street Loau and Building Company, No. 2 Gilt Edge Building and Savings Company Globe BuildiDg and Savings Company Gloria Loan and Building Company Goosetown Loan and Building Company Government Loan and Building Company Grand Central Building Grand Central Building and Loan Company, No. 2 Grand National Building Company Grand Union Building, No. 2 Granite Building and Loan Comprmy Green Street Loan and Building Company, No. 1 Green Street Loau and Building Company, No. 2 Guttenberg Loan and Building Company Hamilton County Loan and Building Company Hancock Loan and Building Company Hanover Bau Verein Company Harmonia Building and Loan Company . . . . , a Not reported. Nov. 21 1890 Feb. 23 ISSfi July 2 1883 Aug. 1 1883 Mar. 6 IKK!) May 2 1884 Mar. 9 1KR2 July 16 1888 July 30 1883 Julv 1 1891 Jan. 21 1891 Deo. 21 1S86 May 2 1877 July 12 1883 Nov. 26 18!>!i Apr. 22 1889 July 5 1890 Nov. 22 1883 Aug. 3 1883 May 1 1878 May 4 1887 Mav 19 1884. Feb". 19 1880 Mar. 15 1877 Aug. 9 1883 Dec. 24 1890 May 1 1880 May 6 1878 July 1 1875 Dec. 13 1K82 Aug. 17 1885 Mar. 12 1890 Dec. 20 1883 Dec. 1 1879 June 10 1890 Feb. — 1887 Oct. 16 1888 Sept. 30 1890 June 1 1887 Dee. 1 1888 July 25 1883 Nov. 15 1881 Mar. 25 1878 Mar. 18 1882 June 5 1884 June 24 1887 SJuly 5 18112 Dec. 5 1881 Nov. 15 1883 June 4 1885 July 1 1890 Not. 6 1877 Jan. 12 1882 June 1 1883 Apr. 2 1877 June 25 1883 May 17 1884 Feb. 3 1887 Apr. 1 1888 Jan. 1 1KK8 Mar. 4 1SR0 July 6 1878 Feb. 2 1882 Jan. 14 1887 June 21 1881 Dec. 15 1885 Jan. 27 1881 Sept. 15 1883 Titov. 27 1882 Mar. 2S 1888 Nov. 7 18S1 Sept. 12 1883 Nov. 2 1882 CHAPTER I. GENERAL TABLES. 203 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHIO— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total Borrow- ers. Shares in force. Heal estate loans. Mar- gin- al num- ber. Local .- Local Local Local Loral Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Locj'.l Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local . . T . . Local Local Local Local Local Local Permanent . . Permanent.. Permanent . . Permanent . . Permanent . . Permanent . - Permanent . . Permanent . . Permanent - . Permanent . . Permanent . - Permanent.. Permanent . . Permanent . . Permanent-. Permanent . . Permanent. . Permanent . . Permanent.. Permanor.t . . Permanent . . Permanent -. Permanent . - Permanent . . Permanent - - Permanent - . Permanent. - Permanent.. Permanent.. Permanent . - Permanent . . Serial Permanent . . Permanent . - Permanent. - Permanent . . Permanent. . Permanent . - Permanent.. Permanent . . Permanent. - Permanent . . Permanent . . Permanent-. Permanent.. Permanent .- Permanent - - Permanent.. Permanent . . Permanent. - Permanent - - Permanent.. Permanent . . Permanent -- Permanent . . Permanent . . Permanent.. Permanent . . Permanent . - Permanent . . Permanent. - Permanent.. Permanent.. Permanent . . Permanent - . Permanent . . Permanent'.. Permanent . . Permanent .*. Permanent . . Permanent . . Permanent . . Permanent . . 172 83 274 153 147 206 203 (a) 247 37 27 60 148 433 39 82 (a) 194 188 174 128 150 126 103 390 449 567 95 231 147 206 167 191 150 31 (a) 105 44 95 125 181 48 263 317 48 II 83 239 129 92 149 300 459 118 255 75 126 (a) 107 50 142 267 152 175 152 91 273 174 216 56 325 (a) 100 55 42 177 27 17 143 120 (a) 203 15 3 6 74 102 16 51 (a) 76 30 57 61 75 63 79 220 27 283 61 118 84 118 116 18 (a) 19 2 33 46 34 10 54 100 23 2 32 175 103 49 59 175 311 80 85 20 59 (a) 31 9 77 184 38 75 119 44 27 65 58 4 163 (a) 56 227 125 451 180 164 349 323 281 450 52 30 66 222 535 55 143 60 270 218 231 189 225 189 182 610 476 850 156 599 209 324 251 -309 266 52 93 124 46 128 171 215 58 317 417 71 13 115 414 232 141 208 475 770 198 340 95 185 214 138 59 219 451 190 250 271 135 300 239 274 60 488 157 156 13 19 114 45 21 57 54 73 84 1 1 9 50 79 2 14 10 40 34 64 35 41 26 46 92 22 159 39 152 38 46 26 66 72 5 15 12 2 12 24 34 6 99 92 14 1 8 94 52 12 17 99 149 37 70 13 18 26 13 4 (a) 388 758 1,446 930 553 2, 412 1,087 961 2,274 82 93 222 614 3,692 178 610 22r,= 855 637; 560$ 642 790 544g 475 2,116 476i 1,857 4051. 1,623 599 1,270 1,331 219J 205 198 426J 571 135 512 721 188 649 1,285 187 24 408 1,946 930J 29984 1,027 1,310 2,306 626J 784 268 585 1,077 595 148 676 815 089 731J 909 474 741 220 1,920 323 369ft (a) (a) (a) la) (a) (a) - (a) la) la) la) (a) la) (a) (a) (a) la) la) la) la) (a) la) (a) (a) 48 la) (a) (a) la) (a) (a) (a) 21 (a) (a) la) (a) (a) (a) la) la) (a) la) la) la) la) (a) (a) la) (a) la) la) la) la) (a) (a) la) la) la) la) la) la) la) la) (a) 77 la) la) la) la) la) (a) la) la) b Date of incorporation. 204 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHIO— Continued. Locality. Name of association. Date of organization. HAMILTON CO.— Cont'd. ncinnati. ncinnati . ncinuati. ncinnati. ncinnati. ncinnati . ncinnati.. ncinnati . noinnati. ncinnati. ncinnati.. .ncinnati.. .ncinnati.. ncinnati.. ncinnati.. ncinnati . ncinnati. . ncinnati.. ncinnati. ncinnati., ncinnati.. ncinnati., ncinnati.. ncinnati. . ncinnati.. ncinnati. . ncinnati.. ncinnati. ncinnati.. ncinnati. ncinnati.. ncinnati. ncinnati. ncinnati. ncinnati.. ncinnati.. ncinnati . ncinnati . ncinnati.. ncinnati. ncinnati. ncinnati. ncinnati. ncinnati. ncinnati . ncinnati. ncinnati. ncinnati. ncinnati. ncinnati.. ncinnati - ncinnati. ncinnati. ncinnati- ncinnati- ncinnati. ncinnati. ncinnati. ncinnati. ncinnati. ncinnati- ucinnati. ncinnati . ncinnati.. ncinnati. ncinnati. ncinnati. ncinnati. ncinnati. ncinnati. ncinnati. ncinnati. ncinnati . Harrison. Avenuo Loan and Building Hecker Loan and Building Company Helpmate Building and Home Company Helvetia Loan and Building Company Highland Avenue Loan and Building Company — Hillsdale Loan and Building Company Hill Top Building, Savings, and Loan Company — Home Savings and Loan Company Humboldt Euilding Company Hunt Street Loan and Building Company Irish Building and Loan Company Jewel Loan and Building Company John Street Loan and Building Company June Street Building, Savings, and Loan Company Jung Loan, and Building Company Kindel Avenue Loan and Building Company Lafayette Building Laurel Building Liberal Loan and Building Company Lincoln Ban Verein Lincoln Building, No. 1 Lincoln Park Building and Loan Company Linn Street Building '. Lion Loan and Building Company Lion Loan and Building Company, No. 1 Live Oak Loan and Building Company Livingston Street Loan and Building Company . . . Lorraine Building and Loan Company Losantiville Building and Savings Company Lower Market Loan and Building Company Ly tie Building and Loan Company McCook Loan and Building Company McMicken Loan and Building Company, No. 1 Madison Hoad Savings and Loan Company Main Street Building and Loan Company Market Loan an d Buildin g Company Mechanics' Relief Loan and Building Company ... Mentor Loan and Building Company Mercantile Building and Loan Company Mercer Loan and Building Company Merchants' Loan and Building Company, No. 1 . . . Miami Loan and Building Company Milton Building Company, No. 2 Model Loan and Building Company Mohawk Place Building and Loan Company Molitor Loan and Building Company Monarch Building and Loan Company Montana Savings and Building Company Mound Building and Loan Company Mount Adams Building and Loan Mount Adams Building Company Mount Auburn Loan and Building Company Mount Healthy Savings and Loan Company Mount Hope Homestead Company Mount Lookout Building and Loan Company Mozart Loan and Building Company Music Hall Loan and Building Company Mutual Home Building and Savings Company National Building Company No Plus Ultra Building and Loan Company New Charter Building and Loan Company New Court House Building and Loan Company . . . New Era Loan and Building Company New Foundation Loan and Building Company New German Loan and Building Company New Magnolia Building and Loan Company New Mohawk Building New Plan Savings and Building Company New Veteran Building Company Nineteenth Ward Building Company Nobel Third "Ward Building Company Nonpareil Building Company North Cincinnati Loan and Building Company a Not reported. Oct. 10 Jan. Aug. 1 Dec. 20 Feb. 1] Dec. 9 Apr. 1 July 1 Aug. 23 May 14 Jan. 28 Nov. 12. July 18 Nov. 11 Dec. 31 Jan. 5 Dec. 19 May 16 Nov. 8 Aug. 18 Dec. l. Aug. 20. May 1, Mar. SO. Aug. 1 Mar. 16 July 20 Jan. 1 Oct. 8 Oct. 1, Oct. 22 Aug. 14 Sept. 12, Apr. 27 Dec. " Jan. Feb. 11 Aug. 18 Oct. 1. Oct. 16 Sept. 24 Sept. 1 Feb. 26 Sept. 1. Jan. July Apr. 1 Jan. 10 Apr. 21, Sept. 14 June 29. Mar. 26 Feb. 8 Mar. 1 Oct. — Aug. 15 Aug. 27 4 May 8, Nov. 5, Aug. 25 Mar. 31 Feb. 8 June 25 Aug. 20. Nov. 29. Feb. June 2, June 14 Jan. 3 Feb. 1 May 3 June 22 Sept. 2 1878 1881 1883 18g2 1887 1890 1883 1890 1877 1890 1889 1885 1882 1889 1887 1887 1879 1879 1888 1878 1879 1883 1879 1884 1887 1889 1886 1886 3883 1887 1883 1882 1883 1888 1882 1888 1887 1S92 1890 1890 1884 1880 1880 1885 1891 1884 1883 1890 1881 1878 1881 1882 1887 1891 1882 1891 1884 1888 1881 1888 1801 1889 1888 1891 1884 1892 1876 1887 1883 1888 1884 1882 1882- CHAPTER I. GENERAL TABLES. * 205 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. O III O— Continued . Local or national. Local . . Local . . Local . . Local . . Local . . Local - . Local . Local . Local . Local . Local - Local - Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Permanent, termi- nating, or aerial. Pernianont . . Permanent.. Permanent . . Permanent . . Permanent . . Permanent . . Permanent . . Permanent. . Permanent- . Permanent. . Permanent.. Permanent. . Permanent. . Permanent. . Permanent.. Permanent.. Permanent. . Permanent. . Permanent. . Permanent. . Permanent.. Permanent. . Permanent.. Permanent.. Permanent-. Permanent.. Permanent. Permanent. . Permanent . . Permanent.. Permanent. Permanent. . Permanent. . Permanent.. Permanent. . Permanent. . Permanent. . Permanent. . Permanent.. Permanent-. Serial Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. Permanent. 'Permanent. Permanent. Permanent. Permanent- . Permanent. Permanent. Permanent. Permanent. Permanent. Permanent- Permanent. Permanent- Permanent . . Permanent. Permanent . . Permanent . . 'Permanent.. Permanent. Permanent . Permanent . Permanent . Permanent . Permanent . Shareholders. Male. 68 99 117 214 154 1G0 535 111 444 112 161 125 173 113 08 94 219 16(5 289 242 224 168 426 111 85 67 84 102 103 435 101 270 196 73 128 61 70 67 95 90 21 388 191 88 85 137 167 124 90 143 (a) 224 231 112 81 65 203 100 317 51 50 54 (a) 49 163 (a) 180 159 89 208 498 178 248 Female. 34 29 80 111 88 10 525 12 347 24 152 58 80 51 29 29 100 100 145 232 101 60 143 56 48 30 48 52 94 142 23 111 59 53 50 12 32 26 63 20 13 100 15 20 35 100 75 07 28 111 (a) 108 137 21 72 30 22 39 245 19 (a) (a) 20 111 08 147 345 57 137 Total. 92 128 203 325 242 170 1,060 123 791 130 313 183 259 164 95 123 319 266 434 474 325 234 569 167 133 97 132 154 197 577 124 381 255 126 178 73 102 93 158 110 34 488 2116 108 120 237 242 191 118 251 312 133 153 95 225 139 562 70 62 75 80 59 238 159 200 270 157 355 843 233 385 Borrow- ers. 16 20 32 74 29 6 151 15 178 20 52 29 00 24 12 19 72 07 07 86 109 45 132 21 25 12 20 14 22 135 10 63 35 10 12 12 12 4 18 10 6 85 37 43 12 32 39 16 10 46 85 61 101 8 48 4 34 17 110 5 4 9 7 5 29 8 44 15 26 35 130 40 97 Shares in force. 400 060 805 1,092 1, 6461 571* 3, 682" 330 2, 401J 300 1, 106J 813 952 520 409 533 1,449 1,113 1,514 1, 659} 883 803 1,961 495 1,034 460 500 4491 553 1, 819rV 408 1,782 813 360 5723 323 391,'. 263 694 410 105 1,4751 594 3 93 592 729 694 1,048 368J, 1,167" 1,543 8514. 1,256 737 571 J 350 1,280 575 2, 5011 231 220 321 267 2251 993" 503 770 1, 028 537 1,612 2, 4061 7714 2,159 Real estate loans. (a) (a) («) (a) 25 («) («) (a) (a) (a) (a) (a) (a) (a) (a) («) (a) (a) (ii) («) (a) (o) (a) (a) (a) (a) (a) (a) (a) (a) (a) it) (O (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) Ci 14 (a) («) (a) (as) (a) (a) (a) (as) (a) (a) (a) (a) (a) 9 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) la) '206 REPORT OF THE COMMISSIONER OF LABOR. Table J.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. O II I O— Continued. Locality. Name of association. Bate of organization. Hamilton CO.— cont'd. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati.. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. . Cincinnati.. Cincinnati.. Cincinnati. Cincinnati. , Cincinnati . . Cincinnati., Cincinnati. Cincinnati-. Cincinnati.. Cincinnati.. Cincinnati. . Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati. . Cincinnati.. Cincinnati.. Cincinnati. . Cincinnati. . Cincinnati. . Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati- . Cincinnati.. Cincinnati.. Cincinnati- . Cincinnati.. Cincinnati .. Cincinnati.. Cincinnati .. Cincinnati.. Cincinnati. . Cincinnati. . Cincinnati.. Cincinnati. . Cincinnati. - Cincinnati.. Cincinnati. , Cincinnati.. Cincinnati. . North. Eastern Building Company North. Fairmount Building and Savings North. Side Loan Northwestern Building and Loan Company Norwood Building and Loan Company Norwood Improved Building and Loan Company Oak Loan and Building O'Bryonville Building and Loan Company Odeon Building Company Ohio Mechanics' Building and Loan Company Ohio 'Valley Loan and Building Company Old Ninth ward Homestead Company Old Reliable Building Company Ormonde Savings and Loan Company Ortiz Building and Loan Company Peerless Building and Loan Company Pendleton Loan and Building Company People's Deposit and Loan Company Phoenix Loan and Building Company, No. 2 Plank Road Loan and Building Company Pleasant Building and Loan Company Poplar Building and Loan Company Post-Central Building and Saving Company Price Hill Building and Loan Company, No. 1 Price Hill Building and Loan Company, No. 2 Price Hill Eagle Loan and Building Company, No. 1-. Progress Loan and Building Company Protective Deposit and Loan Company ., Provident Loan Company .; Queen City Building and Loan Company Quick "Withdrawal Building Company Race- Street Loan and Building Company Reed Building and Loan Company Reliance Building and Loan Company Republic Loan and Building Company Ringgold Building and Loan Company Riverside Building and Loan Company Saint Clair Building and Loan Company Sampson Building and Loan Company Saturday Afternoon Deposit and Loan Company Schuetzen Building and Loan Company Security Savings and Loan Company Senate Loan and Building Company Seventeenth "Ward Building and Loan Company Seventh "Ward Loan and Building Company Sherman Loan and Building Company Sidney Avenue Building and Savings Company Sixteenth Ward Building Company Sixth "Ward Building Company Southern Ohio Loan and Trust Company South Side Loan and Building Company South "West End Building , SparkasseLoan and Building Company Spring Garden Loan and Building Company Spring Grove Avenue Loan and Deposit Company. . Square Deal Loan and Building Company Standard Building and Loan Company Star Building Company, No. 3 State Avenue Loan and Building Company Sterling Building and Homestead Company Storrs Township Building Company Summit Savings Building and Loan Company Sun Building, No. 1 Superior Loan and Building Company Supreme Loan and Building Company ; .".*. Sycamore Street Building ] " ." Tannery Loan and Building Telephone Building .' TempleBar Loan and Savings Company Tent Ii "Ward Building Company Tenth "Ward Loan and Building Company, No. 2 ." Teutonia Loan and Building Company , Oct. Mar. Apr. Apr. Apr. Mar. Feb. 2, 1883 Jan. 18,1884 -Tune 9,1874 Apr. 21,1887 Oct. 4, 1882 Apr. 21,1888 Sept. 12, 1887 May 1, 1890 May 12,1887 Feb. 24,1885 Mar. 15,1887 dune 21, 1883 Mar. 1,1884 Apr. 11,1892 June 5, 1889 June 18, 1886 Apr. 8, 1890 Jan. 1, 1890 Aug. 4,1883 Oct. 16,1882 July 28, 1885 Apr. 1, 1890 Sept. 11, 1890 Fob. 1, 1891 Apr. 15,1892 July 9,1882 5,1885 3, 1888 27, 1887 9, 1884 1, 1SS6 2. 1881 (a) July 9, 1884 Jan. 7, 1884 Mar. 6, 1886 Dec. 28,1883 Oct. 25,1882 Sept. 25, 1887 Aug. 6,1887 Feb. 27,18*4 Sept. 30, 1891 May 1, 1880 June 29, 3882 July 17, 1882 Jan. 1, 1886 Apr. 27,1891 Oct. 26,1882 Mar. 7,3882 July 19, 1890 Oct. 17,1890 Oct. 25,1878 June 6, 18S7 Sept. 11, 1888 Dec. 1,1882 Aug. 28, 1890 July 6, 1885 July 26,1881 Feb. 1, 1891 Apr. —1882 July 20, 18S8 Feb. 2, 1891 Nov. 13,1873 Mar. 1,1883 5. 1883 15, 1880 9. 1882 11. 1878 12, 1889 2, 1882 6, 1891 5. 1884 May Feb. Aug. Doc. Oct. Feb. Mar. July a Not reported. CHAPTER I. GENERAL TABLES. 207 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHIO— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. ' Female. Total. Borrow- Shares in force. Real estate loans. 467 (a) 1,633 (a) 2,395 (a) 1,184 (a) 447 38 957 (a) 1,797* 72 587 (a) 1,539 (a) 1,702 26 962 (a) 1,169 (a) 692 (a) 379 (a) 1, 184* (a) 434 (a) 273J (a) 1,692 59 246 (a) 378 (a) 556 17 632 (a) 347 (a) 410 (a) 880 (a) 1,158 (a) 1,833 (a) 645 (a) 1,017 (a) 340 (a) 1,274 (a) 097 (a) 582 (a) 418 (a) 708 (a) 550 (a) 1,314* (a) 1,064 (a) 524 (a) 474 (a) 1,374 («) 43 (a) 1,060 101 1,405* (a) 2,425 (a) 1,546* (a) 905§ (a) 1,011 (a) 1, 188 (a) 10, 356 (a) 774 (a) 517* (a) 453 (a) 421 (a) 2,534 (a) 222 (o) 679 (a) 1,119 (a) 195 (a) 512 (a) 506 (a) 519 (a) 781 (a) 34 (a) 414 (a) 895* 64 321 (a) 605* (a) 293 (a) 8,089 (a) 190* (a) 1,859 (a) Local Local Local Local Local Local Local Local Looal Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local National... Local Local Local Local Local Local Local Local Local Local Local Local Local Loral Local Local Local Local Looal Local Local Local Permanent . . . Permanent Permanent . . . Permanent . . . Permanent . . . Permanent . . . Permanent . . . Permanent — Permanent. .. Permanent .. . Permanent... Permanent Permanent Permanent . . . Permanent . . . Permanent Permanent... Permanent... Permanent Permanent Permanent... Permanent . . . Permanent... Permanent . . . Permanent . . . Permanent . . . Permanent . . . Permanent. .. Permanent... Permanent . . . Permanent... Permanent . . - Permanent . . . Permanent . - - Permanent . . . J'ermanent . . . Permanent Permanent Permanent Permanent Permanent . . . Permanent Permanent . . . Permanent.. . Permanent — Permanent Permanent . . . Permanent. .. Permanent — Permanent... Permanent. - - Permanent... Permanent. .. Permanent. . . Permanent. . . Permanent — Permanent Permanent Perm an ent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent 137 (o) 335 167 102 115 187 124 211 161 124 W 179 65 156 76 79 330 76 60 94 75 82 79 180 164 151 125 119 87 188 127 121 85 148 (a) 233 141 139 68 275 22 280 205 340 186 130 134 183 2, 068 101 155 82 92 340 58 67 294 44 96 97 122 373 20 149 226 42 115 62 432 77 125 (a) 230 106 51 82 130 54 107 120 (a) 41 20 172 19 29 45 11 37 35 58 10 33 21 81 112 61 80 27 65 71 68 35 100 55 76 87 71 46 129 136 170 82 65 28 94 414 60 59 18 21 170 10 74 164 12 20 28 40 19 1 78 65 34 60 12 180 20 300 198 323 565 273 153 197 317 178 318 281 187 212 220 85 328 95 108 375 87 97 129 133 92 112 207 245 263 186 229 114 253 198 189 120 248 (a) 309 228 213 114 - 404 22 333 341 510 268 201 162 277 2,482 161 214 100 113 516 68 141 458 56 116 125 162 392 21 227 291 76 184 74 612 97 425 61 85 111 51 39 44 48 28 36 39 30 42 38 5 26 16 5 59 11 19 17 9 1 12 8 67 32 35 24 23 62 27 66 32 33 (a) 97 63 86 40 27 27 46 ?-«2 14 58 18 16 86 3 16 110 3 21 15 27 78 3 51 69 23 40 5 151 13 79 208 REPORT OF THE COMMISSIONER OF LABOR. Taiji.e I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHIO— Can tin ueil. Mar- Locality. Name of association. Dato of organization. Hamilton co. — cont'd. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati.. Cincinnati. Cincinnati- Cincinnati.. Cincinnati. Cincinnati- Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. 22 I Cincinnati. Cinciimati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati. Cincinnati- Cincinnati. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati.. Cincinnati., Cincinnati-. Cincinnati Cincinnati Delhi Elm wood Place Elm wood Place Glendale Glendale Harrison , Harrison Hartwell Hartwell Home City , Ivory dale Kennedy Kennedy Lin wood Lockland Lockland Ludlo w Grove Madisonville Madisonville , Mount "Washington . Newtown North Bend Oakley Pleasant Ridge . Reading Reading Texas Building Company Texaa Building, No. 4 Third Ward Building Company Triumph Building Company Turner Ban Verein, No. 3 Tusculum Building and Loan Company Twelfth Ward Building and Loan Company Twenty-fifth "Ward German Building and. Savings Company. Twenty-fourth "Ward Loan and Building Company. . . Twenty-second Ward Loan and Deposit Company . . Twenty-third "Ward Building Company Union Central Loan and Building Company Unity Loan and Building Company U. S. Grant Loan and Building Company Victoria Building, No. 1 Victoria Building, No. 2 Victoria Loan and Building Company, No. 3 Vine Street Cable Loan and Building Company Volunteer Loan and Building Company Waclit am Rhein Loan and Building Company "Wade Street Building. Walnut Hills and Woodburn Savings, Loan, and Building Conrpany. Walnut Hills Savings and Loan Company Washington Building and Loan, No. 4 Washington Building, No. 3 , Welcome Loan and Building Company Wesley Chapel Building and Loan Company , West Cincinnati Turner Building Company West End Homestead Company , Western Avenue Building Western German Loan and Building Company Western Hills Building, Savings, and Loan Company Western Mutual Building and Savings Company . .'. Westlicher Stern Loan and Building Company West Norwood Building and Loan Company Weatwood Avenue Building and Savings Company . . Wildey Building Company, No. 3 William Tell Loan and Building Company I. Windsor Loan and Building Company ... Woodburn Avenue Loan and Building Company Workiugmen's German Building and Savings Com pany. York Street Building Company Young Men's Bui] ding and Loan Company Glenway Loan and Deposit Company Elmwood Place Loan and Building ... Millcreek Valley Building and Loan Company Glendale Building and Loan Company Glendale Savings Citizens' Building and Loan Company .... Harrison Building and Deposit Compa.ny ... Homestead Savings and Loan Company Royal Building and Loan Company Finance Loan and Savings Company Lenox Building and Loan Company Auburn Avenue Building and Loan Company Kennedy Building and Loan Comuany Enterprise Building Company Enterprise Building and Loan Company '. Lockland and Reading Savings and Loan Saint Bernard Loan and Building Company Cottage Building and Loan Company. Madison Building, No. 2 Mount Washington Loan, BuildingVand Deposit Com pany. Compromise Building, Loan, and Savings Company . jtuarm Township Building and Loan Company . Oakley Building and Loan Company ... Pleasant Ridge Building and Loan 'Company German Building, Loan, and Savings Company Home Building and Loan \\ a Not reported. Feb. 27,1882 Nov. 5,1877 Mar. 1, 1881 Sept. 18, 1882 Jan. 1, 1887 Sept. 15,1882 June 27, 1883 Apr. 1, 1880 July 11, 1891 Dec. 29, 1891 •Aug 1, 1882 June 6, 1883 Mar. 15,1888 Sept 9, 1885 Jan. 3,] 876 Oct. 5, 1879 Dec. 21, 1885 Dec. 27, 1886 May 14.1887 Feb. 14,1888 Dec. 2, 1879 Jan. 1, 1887 Nov. 24, 1886 Nov. 19, 1879 Jb'eb. 17, 1875 Oct. 31, 1883 Mar. 18, 1891 July 25,1883 Dec. 1, 1881 May 9, 1879 Jb'eb 7, 1889 June 9, 1883 July 13, 1882 Dec. 28, 1875 Aug. 2, 1892 Jan. 13, 3890 Jan. 5, 1881 Mar. 9, 1882 Mar. 26, 1885 Feb. 9, 1889 May 6,1882 Oct. 10,1882 July 7,1890 June 1, 1891 Feb. 1, 1S86 Mar. 2, 1892 May 13,1886 Oct. 1, 1879 Feb. 20, 1891 May 26, 1882 Mar. 29,1882 Mar. 20,1884 Oct. 25,1883 Aug. 1,1887 June 2, 1883 May 7, 1887 Nov. 19, 1885 Mar. 5, 1888 Apr. 1,1875 May 20,1881 May 17,1883 Mar. 1, 1877 July 1, 1886 Dec. 4, 1885 May 19,1883 Feb. —,1880 June 12, 1883 May 15, 1884 May 14,1891 CHAPTER I. GENERAL TABLES. 20£ Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHIO — Continued, 'Local or national. Local. Local. Local. Local. Local.. Local. . Local. Local. Local . , Local. Local. Local - Local- Local. Local.. Local. Local. Local. Local. Local. Local. Local. Local. Local. Local. Local. Local . Local. Local. ■Local. LocaK Local . Local - Local . Local . Local . Local . Local . Local . Local . Local . Local . Local - Local - Local . Local . Local . Local . Local . Local : Local : Local . Local . Local - Local . Local . Local . Local . Local . Local - Local . Local : Local . Local . Local . Local . Local . Local '. Local . Permanent, termi- nating, or serial. Permanent. . Permanent. . Permanent. . Permanent.. Permanent. . Serial Permanent. . Permanent. . Permanent. . Permanent. . Permanent. . Permanent. . Permanent. . Permanent. . Permanent. . Permanent.. Permanent. . Permanent.. Permanent.. Permanent. . Permanent. . Permanent. . Permanent.. Permanent . Permanent. Permanent. Permanent. Permanent. Permanent. . Permanent. Permanent. . Permanent. Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent. Permanent . Permanent. Permanent. Permanent . Permanent . Permanent . Permanent . Permanent. Permanent . Permanent . -Permanent . Permanent - Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent . Permanent. Permanent . -Permanent. Permanent. Permanent . Permanent . Shareholders. Male. Female. Total 209 361 197 49 130 224 145 216 84 107 238 36 127 98 («) 281 125 100 90 81 50 180 311 102 188 08 112 170 356 253 110 173 93 105 C9 162 217 187 117 182 312 300 144 108 144 84 70 85 32 272 154 199 92 104 224 26 193 100 135 285 400 760 109 40 94 189 121 82 303 70 243 27 32 90 154 08 97 48 20 90 32 10 (a) 200 42 89 51 11 8 50 87 85 10 97 102 118 152 30 179 50 35 20 35 77 97 47 98 J 58 233 42 48 90 27 00 09 22 00 147 17 42 52 210 10 90 71 65 110 167 104 45 05 23 75 27 117 279 604 224 81 220 378 213 313 132 127 334 08 137 173 588 481 167 189 147- 92 58 230 380 139 273 78 209 278 474 405 140 352 110 140 89 197 294 284 164 28(1 470 533 180 150 240 111 142 154 54 332 301 216 134 156 140 30 289 177 200 395 507 804 154 02 159 212 196 109 42(1 Borrow- ers. 58 132 31 13 42 88 20 71 5 02 13 18 21 133 90 29 12 21 4 9 07 08 29 85 10 5 64 81 59 30 07 24 20 7 30 40 05 36 39 114 80 20 14 40 9 32 03 18 108 56 31 22 25 100 5 85 43 72 111 150 301 43 31 53 50 44 30 58 Shares in force. 749 2, 273J 689J 227 895 1,135 550 1,301 543J 387 091 426? 886 634 1,773 1,928 547 852 503 307* 215 1,087 1,613 446J 940 395 793J 1,391 1,064 1,127 577 1,842 563 370 327 315 831 977/, 1,049 1,440 1,852 2.31U 865" 681 830 409 402 008 170 840 1,538 301 400 778 2,004 157 694? 470 488 1,832 1.285J 2.221 018 012 024 838 533J 984 Real estato loans. (a) (a) 31 (a) W (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) W (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 38 («) 36 (a) (o) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (at (a) (d) (a) (a) H. Ex. 209- -14 210 REPORT OF THE COMMISSIONER OF liABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. O H f -©—Continued. Locality. Hamilton CO.— cont'd. Reading , Sharon ville Sharonville . » , Silverton _. Terrace Park "Westwood ,—. ,, "Wanton Plao&. _ "Wyoming ..-.-. "Wyoming HANCOCK COUNTY. Fimdlay , Findlay . Findlay . HARDIN COUNTY. 13 Ada . Kenton . Kenton . HARRISON COUNTY. Cadiz Cadiz - Jewett New Athens. Soio ,- HBQHLAKD COUNTY. Greenfield .... Greenfield .-. HiUsboTO ..- Hilisboro Laeaburg Lynchburg . . HOCKING COUNTY. Logftn HUKON COUNTY. Bellevuo . Nor walk. ■JACKSON COUNTY. Jackson . . Jackson .. "Wells ton . JEFKIiRSON COUNTY. Steuben ville . Toronto KNOX COUNTY. Mount Vernon LAKE COUNTY. Painesville LAWRENCE COUNTY. Coalgrove Ironton Iron ton „ Ironton Namoof association. Sycamore Bu ilding and Loan Company Rose Street Building and Loan Company Sharon .Savings and Loan Company Silverton Loan and Buil&imig Company Terrace Park Building and Loan Company "Westweod Homestead Company "Winton Place Building anu Loan Company Lockland-"Wyoming Building and Loan Company . "Wyoming Loan and Savings Company , Findlay Building and Loan Industrial Building and Loan Company Nortih Side Building, Loan, and Savings Gompany.' Home .Savings, Building, and Loan Gompany Home -Savings, Building, and Loan Gompany People's Savings, Building, and Loan Company . Equitable Building and Loan Company . . . Peopled Building and Loan Company Jewett Building ;and Loan Company New Athens Budding and Loan Company . Scib Building and Loan Company Fidelity Building and Loan Company Home Building and Loan Company Equitable Building and Loan Company . - Superior Loan and Building - Lees"b*ur.g Building and Loan Lynchburg Building and Loan Company. Logan Home and Savings Industrial Savings and Loan Company Home Savings and Loan Company Citizens' Building and Loan Company. "Union Building and Loan Company . . . Citizens' Building and Loan Company. Date of organization. Apr. May Feb, Oct. .Mar. :Sept. Jan. Bee. Aug. 6, 1881 2,1892 3,1882 11, 1S9B 23,1892 18,1883 27, ]g87 1,1888 28,1882 Steuben ville Building and Loan Company. Toronto Savings and Loan Company Company." Hume Building and Loan Company Citizens' Loan and Building (!n:npany Coal Grovo Building and Loan Company , Bishop Building Company, No. 3 Eagle Building and Loan Company German -American Building Company. No. 3. aNotTeported. Max. 18,1886 May 29, 1889 June 17, 1889 Dec. 5, Feb. 7,. Feb. 1, Apr. 4, 1892 Mar. 28, 1888 Apr. 10,1892 Apr.. 1,1890 July 1,1890 May 4, 1887 Apr. 10,:i886 Apr. 7,1890 Oct. 2, 1886 Fe"b. 2,.1884 July 1,1889 Jan. 12,1889 Feb. 13,1800 Apr. G,1S88 Apr. 19,1890 Apr. 19, 188.4 Jan. 13,1888 Mar. 28,1888 Get. 9,1890 Apr. 3 7,1883 July 1,1889 Jan. 6,1892 May 30,1892 Aug. 21,1892 CHAPTER I. GENERAL TABLES. 211 Table I.— STAKE, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. O HI O— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total, Borrow- ers, Shares in force. Real estate loans. 735 (a) 147 '(■a) 757g w 93 (a) 157 («) 793 (o) 420£ «J) 264 (a) 992 <«> 2,785 <«) 3,438 (a) 534 <*> 1,537 (a) 4,517 (a) 1,336 (») 2,008 (a) 994 (a) 293 (a) 288 (a) 357 25 984 ' (a) 1,302 W 783 (a) 4,000 <«) 294 m 391 <«) 2, C08J (a) 2,330 (a) 7,931 559 3,979 (a) 508 id) 989 (03 3, 120 176 255 (a) 2,192 <«> 045 (a) 851 (a) 646 (a)' 706 (a) 514 1 (a) Local Local Looal Local Local Local Local Local Local Permanent . Permanent . Permanent • Permanent . Permanent . Permanent . Permanent . Permanent. Permanent . Local . Local. Local . Permanent . Permanent . Permanent . Local . Local. Local . Permanent . Permanent . Permanent - Local . Local . Local . Local . Local - Terminating . Terminating . Terminating . Terminating . Terminating.. Local Local Local Local Local Local .— ,-.* Serial Serial Permanent, Permanent . Serial Permanent . Local Permanent Local . Local . Local . Local - Local . Local . Local . Local . Local . Local . Local . Local ■ Local . Permanent . Permanent. Serial . Serial - Serial . Serial Permanent . Serial . Permanent . . . Terminating . Permanent.-. Terminating . 148 38 139 37 232 49 195 (a) 162 119 250 829 (a) (a) 177 183 329 76 (a) 290 751 (a) 66 134 (a) 110 (a) (a) 70 9 85 12 17 117 12 66 172 (a) 124 49 125 474 (a) (a) S (a) 101 104 21 231 27 (a) 193 452 (a) (a) 12 40 (a) (a) 224 47 221 38 54 349 80 115 307 950 286 168 375 1,303 1,514 251 150 75 84 95 278 287 85 560 103 114 86 176 586 37 150 102 135 91 91 2 3 109 13 18 60 270 90 51 139 533 268 44 103 15 44 31 78 80 21 324 57 33 131 489 167 67 176 15 39 40 212 REPORT OF THE COMMISSIONER OF LABOR. Tablk I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. Oil BO— Continued. Lawrence co.— cone'd. Ironton . Iron ton . Ironton . Ironton . Ironton . Ironton . LICKING COUNTY. Granville . . Johnstown . Newark — Newark — Newark LOGAN COUNTY. Bellefontaine . Bellefontaine - Bellefontaine . Bellefontaine . De Graff De Graff "West Liberty. LORAIN COUNTY. Elyria Lorain LUCAS COUNTY. Auburndale Mauraee Toledo Toledo Toledo Toledo Toledo Toledo Toledo Toledo Toledo West Toledo MADISON COUNTY. London London London London Mount Sterling Main City West Jefferson MAHONING COUNTY, Youngstown Youngstown MARION COUNTY. Marion 2JERCER COUNTY. Celina Cold water Eort Recovery German "Workingmen's Building Company Home Building Company Iron City Building and Loan Company New Central Building Company Standard Building Company "West Ironton Loan and Building Company, No. Granville Building, Savings, and Loan Company Johnstown Building and Loan Company Citizens' Building and Loan Homo Building Company Homestead Building and Savings Company Bellefontaine Savings, Building, and Loan Company Citizens' Building and Loan Company Enterprise Building and Loan Company Mutual Building and Loan Company Miami Building and Loan Company People's Building an d Loan Company People's Savings and Loan Company Jvlvrin Savings and Loan Company Citizens' Home and Savings Company Auburndale Savings and Loan Company Maumco Loan and liuilding Company Central Building and Loan Company Corn City Building and Loan Company East Side Building and Loan Company Home Building and Loan Company Industry Savings and Building- Company Mutual Aid Bunding and Loan Company People's Savings, Loan, and Building Company Phoenix Building and Loan Company Toledo Loan Company West Toledo Savings, Building, and Loan Company Citizens' Loan and Savings Company London Homo and Savings Company London Loan and Building Company Madison Loan and Building Company Mount Sterling Building and Loan Company Plain City Homo and Savings Company West Jefferson Building and Loan Company -Amalgamated Building and Loan Company . Homo Building and Loan Company ]SIiirion r.iiihHug, Savings, ami Loan Cuinpui Mercer County Building and Loan Home Building and Loan Company Port ^Recovery Building and LoanCompany a Not reported. Mar. 4, 1890 Oct. 27, 1887 Jan. 15, 1891 Jan. 26, 1889 Sept 1, 1887 Apr. 16, 1892 Feb. 2, 1889 Apr. 2, 1889 i'eb. 4,1889 Mar. 1,1880 Aug. 22, 1887 July- 15, 1891 Jan. 23, 1865 Apr. 16, 1882 Apr. 9, 1888 Apr. 2!, 1883 May 7, 1889 Jan. 17, 1890 Fell. 10, 1890 July 1, 1889 Sept. July- 14, 1869 1, 1888 July 15, 1891 June 29, 1891 Apr. 20, 1888 Deo. 21, 1887 Sept. July 3, 1887 1G, 1888 July 25, 1887 Jan. 30, 1891 Dec. 10, 1885 Sept. 15, 1891 May 11,1891 Jan. 29, 1889 Jan. 1, 1887 :«■) June 10, 1889 June 17, 1889 Apr. 13, 1889 Dec. 28, 1891 Jan. 14, 1889 May 1, 1888 Mar. C8, 1888 Apr. 11,1888 July 2i, 1889 CHAPTER' I. GENERAL TABLES. 213 Tabi-k I.— NAME, LOCALITY; AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHIO— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total Borrow- ers. Shares in force. Real estato loans. 445 (a) 101 («) 753 (a) 061 (a) 1,168 (a) 597 (a) " 1,195 " (a) 622 (a) 619 ralta .MOJJROW COUNTY. Cardington Mount Gileacl MUSKINGU3I COUNTY Dresden Frazeysburg Jtosoville Hosevillo , , Zanesville .._ Zanesville Zanesvillo Zanesville Zanesville Zanesville Zanesville Zanesville NOBLE UOUXTY. Caldwell I'EKRY COUNTY. Hemlock Shawnee , PICKAWAY COUNTY. Circleville Circleville Circleville Circleville Covington Building and .Loan Border City Builfling and Loan Merchants and Mechanics' Loan and Bmililing Com- pany. PiquaiBnilding and Loan Company, 5vo. 3 Monroe Building and Loan _ Home Savings People's Building and Savings Company West Milton Homo Savings "Wootlsfield Building and Loan C< i-iniam* .. Malta Ba gs a:ul Loan Company. MorroW'Countjjr -Building mid Loan Buck-eye Building and Loan Company. Dresden Building and Loan Company Frazeysburg Building and Loan Company. . Peopled Building and Loan Company KoseviHe Building and Loan Company Buck-eye Building and Loan Company Citizens' Building and Savings Company . . . City Bmildiug Company Economy Building and Loan Company Equitable Building Company Farmers' Building and Loan Company Home Building and Savings Company Homestead Building and Savings Company. Caldwell Building and Loan Comp;my. Hemlock Savings and Loan Company . Shawnee Savings and Loan Gorman ia Building and Loan Company Golden Rule Aid Company Home Buildingand Loan Company ... New Citizens' Building and Loan Company a Not reported. Mar. CO, 1886 June -5., 1871 Apr. .9,1389 Sept. 23,1864 July 27,1875 Mar. 8, 1875 May 1, 1890 Dec. 5, 1887 Mar. 12, 1887 American Loan and Savings Central Building — - ... Dayton Building Company Enterprise Loain-and Savings Equitable Loan and Savings Gem-City Building -and Loan.. Germaaaia Building Homestead Aid Mechanics' Loan and Savings Miami Loan and Building Mutual Home and Savings New Franklin Building Permanent Building and Savings "Washington Building Company West Side Building and Loan Company German town Building and Savings Mutual.Buildingand Loan Company . . . Fob. Jan. Mar. Judy Te-b. Jan. Mar. Nov. Feb. Mar. Apr. Jnly Apr. Apr. Mar. Jan. May 22, 1875 8,1876 3, 1883 15,1832 15,1836 7,1*8B 14,1873 26, 1884 1, 1888 3, 1887 10, 1873 1,1879 9,1874 14,1867 21, 1887 12, 1887 15,1880 Juno 7,1890 Jan. U,1B84 Feb. 28,1887 Mar. 23,1800 Apr. 10, 1388 Jan. "3,1887 Feb. 20,1391 July 2G.16S8 Oct. 28,1887 May 11,1891 Feb. 23,1887 Oct. 17,1887 Juno 18, 1889 May 1, 1886 Juno 10,1884 Feb. 13,1885 Jan. 17,1891 Jan. 17,1889 Apr. 22,1881 Mar. 1,1880 Apr. l, 18P0 Juno 1, 1S82 CHAPTER I. GENERAL TABLES. 215 Tablk I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. ©Ill©— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total. Borrow- ers, Shares in force. Heal cat a to loans. Local . Local . Local . Local . Local . Local. Local . Local . Local . Local. Local. Local . Local . Local . Local . Local . Local . Local . Local . Loci.1 . Local. Local . Local . Local . Local . Local. Local. Local . Local . Local . Local . Local. Local - Local. Loeal . Local . Local . Local . Local. Local . Local. Local. Local . Local . Local . . Local . . Local . . Local . . Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent ..... Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent . . Permanent.. Terminating Permanent . . Permanent.. Permanent . - Permanent . . Permanent . . Permanent . . Permanent.. Serial Permanent . . Permanent.. Permanent -. Permanent . . Permanent . - Terminating Terminating Permanent.. 487 005 <«) (a) w (a) (a) 707 250 79 55 (a) 372 1,039 G48 109 070 5, 835 142 182 217 (a) 235 4 49 (a) (a) (a) 85 (a) f (a)" (a) (a) 41 504 (a) 85 376 259 336 (a) (a) 193 (a) (oil (i) 311 100 42 («) 180 947 420 79 354 2,827 TO 180 IDS (a) 26 403 (a) <«) (a) 28 150 (a) E (a) Ini (a) 37 410 (a) (a) (a) (a) fa) 162 56 183 44 746 841 487 914 464 373 325 99 1,018 418 121 01 2,175 558 2,586 1,068 248 1,030 8,«62 218 362 325 1,225 261 912 183 141 54 137 235 420 149 502 752 170 78 014 97 233 156 53 218 227 253 225 96 2G2 210 153 100 31 262 181 41 3 402 269 Oil 307 . 02 260 1,435 80 132 81 315 87 308 29 43 20 27 144 123 48 142 284 55 54 53 94 117 1,204 5,066 3,325 0,424 1,012 978 1,822 205 3,978 2, 5884 809 419 3, 831J 4,262 11,8874 4, 252 736 6,147 59, 755 2,443 1.938J 1,002 3,245 1,228 4,183 R59 558 530 179$ 319 656 I 2, C97J 1,970 818 3,047 3,261 855 409 6,741 276 850 1,107 1984 1,275 1,248 (a) (a) (a) (a I (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) («) 1,327 (o) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) fa) la) (a) (a) (a) (a) (a) (a) («) (a) (a) (a) (a) la) (a) (a) b Including paid-up Bhares. 216 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHIO— Continued. Xanie of association. Date of organization. TIKE COUNTY. "Waverly PHEBLE COUNTY. Camden Eaton New Paris . TUTNAJI COUNTY. Glaudorf . Ottawa . . RICHLAND COUNTY. Mansfield. . Mansfield.. Mansfield.. Mansfield.. Plymouth . ROSS COUNTY. Chillicothe. Chillicothe. Chillicothe. Frankfort . Kingston . . . SANDUSKY COUNTY. Clyde.... Fremont. SCIOTO COUNTY. Buena Vista. Portsmouth . Portsmouth . Portsmouth . Portsmouth . Portsmouth . Portsmouth . Portsmouth . Portsmouth . Portsmouth .. Portsmouth . Portsmouth .. Portsmouth . . Portsmouth .. Portsmouth .. SENECA COUNTY. Fostoria Tiffin Tiffin SHELBY COUNTY. Sidney STARK COUNTY. Alliance . . Alliance . . Canton . . . Canton . . . Canton ... Massillon. Massillon. "Waverly Building and Loan Company Camden Loan and Building Company Eaton Loan and Home Aid Company New Paris Loan and Building Company Glandorf German Building and Loan Company . . Ottawa Home and Savings Citizens' Savings and Loan Company Mansfield Building and Loan Mechanics Building and Loan Company Ohio Farmers' Loan Company Plymouth Savings, Building, and Loan Company East End Building and Loau Company. Fidelity Building and Loan Company . . Mutual Loan and Savings Concord Building and Loan Company . . Kingston Building and Loan Company. Citizens' Building and Loan Company Henry B. Smith Building and Loau Company. Buena Vista Building Company Citizens' Savings and Loan Company East End Building and Loan Company, series 1 . . . East End Building and Loan Company, series 2 ... Equitable Building and Loan Company Homo Mutual Building and Loan Company Monarch Savings and Loan Company '. People's Savings and Loan Company Portsmouth German Building and Loan Company Portsmouth Savings and Loan Company Royal Savings ana Loan Company Scioto Building and Loan Company, No. 2, series 1 Scioto Building and Loan Company, No. 2, series 2 Scioto Building and Loan Company, No. 2, series 3 Scioto Building and Loan Company, No. 2, series 4 Fostoria Building and Loau Company Citizens' Building Company National Building and Loan Company People's Savings and Loan Industrial Building and Loan Mutual Real Estate Improvement Canton Building, Loan, and Savings Company!. Home Savings and Loan Company Worldngmen's Building and Loan Society, No. 1 Massillon Loan and Building Company People's liuilding and Loau Company ! a Not reported. Mar. 19,1892 Mar. 1, 1881 May 1, 1882 Apr. 28,1884 Sept. 24, 1887 July 28,1888 Apr. 1, 1882 July 24,1876 Feb. 20,1886 July 12,1892 Feb. 16,1891 Aug. 14, 1890 Apr. 1, 1886 Apr. 5, 1888 Aug. 19, 1890 May 16,1887 Mar. 28,1889 Jan. 2, 1886 Mar. 19,1886 Nov. 21,1891 June 18, 1889 Aug. 12, 1890 Mar. 4, 1886 Jan. 24,1888 July 25,1887 Jan. 4, 1890 Apr. 20,1892 Mar. 5, 1891 Feb. 8, 1890 Apr. 24,1885 June 10, 1887 Feb. 7, 1890 Aug. 14,1891 June 10, 1887 Feb. 11,1885 Sept. 23, 1889 Oct. 23, 1886 Apr. 6, 1883 Mar. 23,1888 Nov. 18,1889 Apr. 5, 1887 Dec. 16,1886 Mar. 26,1888 June 7, 1892 CHAPTER I. — GENERAL TABLES.' 217 > Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. OKI O — Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num- ber. Male. Female. Total. Local Permanent 124 47 171 15 3,143 (a) 1 Local Local Permanent Permanent (a) 294 50 (a) 239 43 319 533 93 127 155 42 1,437 2,210 155 (a) (a) (a) 2 3 4 Local Local Permanent 270 355 86 128 350 483 138 181 1,256 2,345 (a) (a; 5 6 Local Local Local Permanent 1,400 1,475 (a) <«> 98 1,100 935 (a) (a) 30 2,500 2,410 315 80 128 720 580 85 4 39 11, 175 10, 797 1, 822 240 646 (a) (a) (a) - (a) (a) 7 8 9 10 11 Local Local Local Local Permanent Permanent 133 330 (a) 56 <«) 43 171 (a) - 16 (a) 176 501 379 72 53 21 154 92 14 14 834 2,785 2,953 206 133 (a) (a) (a) (a) (a) 12 13 14 15 ,16 Local 133 (a) 77 (a) 210 283 66 114 608 1,012 (a) (a) 17 18 Local Local Local Local Local Local Local Local Local Local Terminating Permanent 12 110 139 41 (a) 140 (a) 99 (a) (a) 451 56 29 105 69 15 03 65 26 (a) 110 (a) 43 (a) (a) 36S 41 23 94 35 27 179 204 67 92 250 95 142 164 441 819 97 52 199 104 14 41 11 38 65 54 28 13 12 134 43 19 42 13 104 2,761 532 144 236 624/» 231 691 939 1,075 4,414 230 08 623 268 (a) (a) (a) (a) (a) (a) (a) (a) (a) (n) . (a) ' (a) (a) (a) (a) 19 20 21 22 23 24 -25 Permanent Permanent Terminating Permanent Permanent 26 27 28 29 30 31 32 33 Local Local Permanent 117 (a) 105 57 (a) 38 174 383 143 36 179 63 682 2,017 632 (a) (a) (a) 34 35 36 Local Permanent («) (a) 1,740 420 8,054 430 37 Local Local Local Local Local...; . ■ Local Local Permanent Permanent Permanent 232 153 la) 560 109 725 (a) 62 20 (a) 447 18 . 372 («) 294 173 30 1,007 127 1,097 173 08 53 4 365 49 272 49 1,842 914 96 2,857 692 3,998 871 (a) .(a) (a) (a) (a) (al- io) 38 39 40 41 42 43 44 218 REPORT OF THE COMMISSIONER OF LABOR. Tabltb I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OHIO— Concluded. Mar- gin- num- ber. | Locality Xiiin© of association. 3>at6 of organization. SUMMIT COUNTY - . Akron Akron Akron Cuyahoga Falls TEUMRUIX COUNTY. Warren TUSCARAWAS COUNTY Dennison Mineral Point Uhrichsvillo UNION COUNTY. MHrysvillc.- VAX WERT COUNTY. Van Wert VINTON COUNTY. Hamdeu Junction He Arthur _ WARREN COUNTY. Franklin Franklin Lebanon Mason WASHINGTON COUNTY Marietta Marietta WAYNE COUNTY. Wooster WILLIAMS COUNTY. Bryan Montpelier Montpelier WOOI> COUNTY. Bowling Green Worth .Baltimore WYANDOT COUNTY. Sycamore Upper SanduBky LOflAN COUNTY. Outline Akron Building and Loan Home Building and Loan "William H. Evans Building and Loan . Falls Savings and Loan.- Trumbull Building and Loan Oumpany. Dennison and DliTiclisvillo Building and Loan Company Mineral Point Savings and Loan People's Building and Loan Company Citizens' Homo and Savings Company. Van Wert Building and Savings Company . Hainderi Building Company Mc Arthur Building and Loan Company. Franklin Savings and Loan Company Mutual Home and Savings People's Building. Loan, and Savings Company . Mason Building, Loan, and Savings Company... German .Building and Loan Company „ , Washington County • Savings, Loan, and Building Company. Wonsier Building and Loan Company. Homo Savings, Loan, and Building Company. Fidelity Building and Loan Company Montpelier Building and Loan Company Equitable Building and Loan Company. Homo Savings and Building Citizens' Building and Loan Company. Building and Loan Company, No. 1 Oct. 1, 1888 July 11,1891 Aug. 1,1891 Oct. 2,1888 Mar. 1G, 1S89 Dec. 9, 1885 Feb. 26,1892 Apr. 13,1889 Sept. 27, 1889 Juno 4, 1889 Mar. 23,3868 May 20,1889 Aug. 29, 1889 Jan. 1, 1880 Mar. 14,1889 Juno 12, 1890 Sept. 3, 1890 May 1,1890 May G, 1 Aug. 19,1889 Mar. 22,1892 Mar. 22, 1892 Fob. 8, 1889 Juno 13, 1888 Apr. 10,1891 Aug. 1, 1892 OKIiAllO.lU. Guthrie Building and Loan Dec*. 10,1889 a Not reported CHAPTER I. GENERAL TABLES. 219 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS -Cont'd. OHIO— Concluded. Local or national. Permanent, term i- nating, or Borial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num- ber. Male. Female. Total. Local Local Local Permanent 1,887 341 154 231 686 95 84 209 2,573 436 238 440 558 204 128 106 9,983 3,764 1,502 1.814 (a) 204 . ("1 (a) 1 2 3 4 Local 191 81 272 75 1,074 (a) 5 Local Local Local Permanent Permanent 456 57 136 J8 (a) 592 75 458 343 10 123 4.M5J 106 2, 424} (a) (a) (a) 6 7 8 Local Permanent 421 219 040 202 2,721 fa) 9 Local Permanent 460 52 521 288 1,653 (a) 10 Local Local 21 (a) 8 (a) 29 55 10 28 69 153 (a) W 11 Permanent 12 Local Local Permanent Permanent Permanent (a) 478 (a) 58 (a) 186 (3) 30 299 664 331 88 79 268 53 14 1,859 4,182 2,095 388 (a) ia\ (a) 13 14 15 16 Local Local Permanent 202 219 71 89 273 308 139 75 1,691 1,582 (a) (a) 17 18 (a) (a) 392 59 962 (a) 19 Local Local Local Permanent Permanent 307 (a) (a) 231 (a) 628 60 96 274 33 27 2,026 306 275 (a) (a) 20 21 22 Local Local Permanent Permanent (a) (a) (a) (a) 282 101 96 58 1.218 323} (a) (a) 23 24 Local Pernaaiaent to) (a) (a) 123 113 5 10 112 447 (a) <«) 25 26 OKLAHOMA. Local . Permanent 142 28 (a) 220 REPORT OF TIIE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. OREGON. Locality. BAKER COUNTY. Baiter City CLATSOP COUNTY. Astoria DOUGLAS COUNTY. Oakland Hoseburg Roseburg JACKSON COUNTY. Ashland LINN COUNTY. Albany MABION COUNTY. Salem MULTNOMAH COUNTY, Portland Portland ; Portland Portland Portland Portland UMATILLA COUNTY. Milton Pendleton UNION COUNTY. La Grande Name of association. Home Building and Loan Company Astoria Building and Loan Oakland Building and Loan Douglas County Building and Loan Roseburg Building and Loan Ashland Building and Loan Albany Building and Loan Salem Building and Loan East Portland Building and Loan Franklin Building andLoan Northwest National Building, Loan, and Investment. Oregon Building and Loan Portland Building and Loan Puget Sound National Savings and Loan Oregon Instalment, Investment, and Loan Oregon Building and Loan La Grande Building and Loan Pate of organization. Deo. 21, Feb. 4, 1887 Feb. 3, 1892 Feb. 26,1891 Deo. 19.1888 Feb. 12,1 Jan. 20,1889 Oct. 23,1889 Nov. 16,1888 Apr. 7, 1883 Mar. S, 1892 Dec. 29,1890 Nov. 19,1888 Jan. 2, 1890 Apr. 16,1890 Apr. 26,1888 Oct. 3, 1887 PENNSYLVANIA. ADAMS COUNTY. Gettysburg Gettysburg New Oxford ALLEGHENY COUNTY. Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Gettysburg Building and Loan, No. 4 Gettysburg Building and Loan, No. 5 New Oxford Building and Loan Adams Building and Loan Allegheny Building Allegheny City Premium Building and Loan, No. 1 Allegheny City Premium Building and Loan, No. 2 Allegheny City Ten Cent Premium Building and Loan American Premium Building andLoan Ben Franklin Premium Building and Loan Brighton Building and Loan Capital Building and Loan Cash Building and Loan Citizens' Premium Building and Loan Clifton Building and Loan Commercial Building andLoan Concord Premium Building and Loan Fast Park Premium Building and Loan Eighth "Ward Premium Building and Loan, No. 2. Eiu tracht Premium Building and Loan ■■ a Not reported. May 7, 1887 May 4, 1889 Oct. 1,1890 Aug. 22, 1889 May 1, 1883 Nov. 12,1883 Sept. 1,1892 Aug. 18,-1890 July 30, 1886 Apr. 21,1886 Nov. 10, 1886 Aug. 18, 1886 Sept. 2,1890 May 23,1882 Nov. 12, 1891 Sept. 8,1891 May 17,1887 Oct. 17,1890 Nov. 1, 1890 Jan. 20,1885 CHAPTER I. — GENERAL TABLES. 221 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS- -Cont'd. OREGON. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total Borrow- ers. Shares in force. Real estate loans. Local . Local . Local . Local . Local . Local. Local . Local . Permanent . Serial . Serial Serial Terminating . Terminating . Local , Serial Local Local National . National Local National . Local . Local . Serial . Serial Serial Permanent . Serial Serial . .1 . . . Permanent . Permanent . Serial CO 397 82 309 102 («) 20 3 01 7 151 15 32 12 (11) 07 548 97 341 114 J 00 30 147 16 224 14 05 38 129 250 400 1,490 5,094 1,425 3,635 1, 089J 3,740 133 794 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 1PE1VIVSVI.VANIA. Local (a) (n> 52 29 121 30 If Terminating (a) (ai 117 42 364 46 11 74 9 83 24 312 25 21 Local 38 7 45 37 425 37 2 Local 115 35 150 44 1,448 (a) 2' Local Permanent 166 73 239 29 3,168 31 2: Local 80 24 104 30 1,169 (a) 2 Local (a) (a) 148 13 1,343 (a) 2, Local (a) («> 147 43 1,501 (a) . 2 Local (a) (a) 150 37 1,714 (a) 2 Local 152 59 211 03 1,776 (a) 2 (a) («) 151 27 1,793 (a) 2 Local 97 (a) 31 (a) 128 258 35 97 1,243 3,467 (a) 109 8 3 67 14 81 11 031 4 ■i Local 123 (a) 62 ia) 185 117 30 40 2,854 1,547 (a) (a) B Permanent 8 (a) (a) 55 14 1,146 «0 3 Permanent (a) (a) 93 17 1,143 (a) d Local 120 32 158 36 1,873 40 3 222 REPORT OF THE -COMMISSIONER OF XABOR. TaeleL-XAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PENIVSV.r.V.a.TVlA— Continued. Locality. Ifamo of association. Date of organization. ALLEGHENY CO. — cont'd. Allegheny .* . '. -Allegheny Allegheny Allegheny — Allegheny .-. ... Alleghony Allegheny Allegheny Allegheny .. 1. Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny ... - Allegheny Allegheny .Allegheny - - ■Allegheny .' Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny Allegheny .- Allegheny. Allegheny Allegheny Allegheny Avalon . ' Banks ville Believuo Beltzhoover Beltzhoover Braddock BrMgevillo Brashton Castle Shannon Coraopolis Grafton Duquesne lEtna Etna Glensbaw Homestead Hope Church Mansfield Valley McKeesport McKeesport McKeesport McKeesport McKeesport McKcc's Rocks McKcc's Rocks Mount Oliver Mount Oliver Oafcdale Station Pittsburg.- Pittsburg Pittsburg. — Pittsburg Pittsburg — . Pittsburg Pittsburg. - - Pittsburg ■ Pittsburg Pittsburg Pittsburg FederaT Building and Loan„ Garfield Premium Building and Loan, No. 2 German Building and Loan German Premium and Loan, No. 2 Germariia Premium and Loan Great "VVesternPremium Building and Loan Home Mutual Building and Loan Hope Buildingrand Loan- Humboldt Premium Building and Loan, No. 2 Juniata Premium Building.:and Loan _ La Fayette Building andl/oan Liberty Building and Loan Madison Building and Loan , Monitor Premium Building and Loan, No. 3 National Premium Building;and Loan, No. 3 North Avenue Premium and Loan, No. 2 North Side Premium andXoan O'Hara Premium Building.and Loan Ohio Street Premium andLoan . . Pennsylvania Premium Building and Loan Pleasant Valley Building and Loan Progress Premium Building and Loan Reserve "Premium Building and Loan. - - , Safelnvestment Building and Loan ■-■ Spring Garden Borough Building and Loan Spring Hill Premium ISuilding and Loan. Standard Building and Loan — - Tweif th'Ward^Premium and Loan ..■ '. TT.Dian33nildine.and Loan -■ TJnitediStates Excelsior Building, No. 3 "Washington Premium Building and Loan AYood'sltun Building andLoan "Workingmen's Premium and Loan "Workmen Premium and Loan ,- Ohio Valley Building and Loan People 's.Mutual Bufldingand Loan Bellevue Homestead Loan and Trust Company Fidelity Dime Building and Loan .... Rising Star Mutual Building and Loan - Consolidated Building and Loan - Bridgeville Building and Loan Brusutou Building and Loan Castle Shannon Building and Loan Coraopolis Buildingand Loan Shingiss Building and Loan of Chartiers Township Duquesne Building and Loan Etna Borough Building and Loan People's Building andLoan of Etna and Sharpsburg. Pine Creek Valley Building and Loan Homestead Building and Loan - _ Hope Church Buihlingand Loan ^ Anchor Building and Loan * Home Security Building and Loan McKeesport Building and Loan New Enterprise Building and Loan. Union Savings Fund and Loan, No. 1 Union Savings .Fund and, Loan, No. 2 McKcc's Rocks Building and Loan ----- McKoe's Rocks Modern Buililingand Loan Lower Saint Clair Building andLoan Mount:01iver and Knox viue Building and Loan Beechmont Building and Loan Acme Building and Loan ^__ AllemaniaBuildingandLoan of theTwenty -fifth Ward AHcntoivn TuniBuildingand Loan Alpheus Building and Loan American Building andLoan _, American Iron Building and Loan , Arcanum Building and Loan Arlington Avenue Building andLoan , Aurora Building and Loan Birmingham Dime Building and Loan Bloomfield Building and Loan, No. 3 Aug. 1,1860 Dec. 4, 1882 Sept. 23, 1801 May 17,1882 •July 27,1880 Apr. 18,1884 June 1,1880 July 0,1885 .May l,it«fl0 -My ,2,1880 .Max. 20, 1883 Nov. 21, 1883 May ■ 5, 1884 July 9, 1884 Jan. 2G, 1887 My 19,1882 July 10,1882 Jan. 20, 1885 Mar. 1,1875 May 24,1892 May 31,1881 Jan. 29, 1891 Juno .12, 1891 May 1,1891 Feb. 11,1885 July 30,1880 Feb. 1,1880 Oct. 4,1SS3 Not. 21,1880 Jan. 18,1891 .May 22,1884 Juno 7,1880 Mar. Dec. Aug. Mar. May Oct. Aug. Oct. 5, 1881 15, 1886 2, 1892 1,1892 9,1891 23,1891 7, 1885 „ 12,1888 Jan.** 1,1831 Eeb. 6, 1892 Feb. 27,1888 Mar. 8, 1889 Nov. 22,1884 Mar. 3, 1888 May 4, 1889 July 25,1887 Apr. 6, 1885 Jan. 23,1883 Oct. 20,1821 Oct. 5, 1887 Fob. 1, 1887 Juno 8,1887 Aug. 13, 1887 July 1,1881 Mar. 1,1880 ApT. 1, 1835 Apr. 23,1892 Jan. 4,1891 Apr. 0,1891 ITeb. '23,1885 Aug. 3,1836 Aug. 14,1884 Mar. 14, 1891 Feb. -4,1891 Get. 15,1887 Dec. 1, 1891 Aug. 16,1887 Mar. 30,1^91 June 22,1887 June 4,1892 July 20, 1885 a Not reported CHAPTER I. GENERAL TABLES. 223 Table!.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. PENWaWXTAWIA— Conttoued. Local or national. Bormanent, termi- nating, or serial. Shareholders. Hale. Female. Total Borrow- ers. Shares in forco. Real estate loans. Mar- gin- al num.- her 9 10 11 12 13 14 15 10 17 18 19 -20 21 22 23 24 25 26 27 30 81 32 33 34 35 36 37 38 39 40 41 42 43 41 45 46 47 48 49 SO 51 52 53 54' 55 56 57 58 59 CO 61 02 03 64 C5 06 07 08 C9 70 71 72 73 Local Local Locsil Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local. Local Local Local '. Local Local Local Local Local Local Local Local Local Local Local. Local Local Local Local Local Local Local Local -'. . . . Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local. Local Local Local Local Local Local Local Local Local Local Local Local Permanent — Permanent Permanent- Permanent.. Permanent .-Permanent , Serial .Permanent Permanent. Permanent Permanent Permanent Permanent Permanent Permanent Permanent - Permanent Permanent- Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Serial Permanent Permanent Serial Permanent Serial Permanent Permanent Permanent Serial — Permanent Permanent Permanent •Serial Permanent Permanent.. .Serial Serial Permanent Serial ..._ Terminating — Serial Serial Permanent Serial Permanent Serial Serial Serial Serial Serial Serial Permanent Permanent Permanent Serial Permanent Serial '. Permanent Permanent Permanent Permanent Serial Permanent 'Terminating . — Permanent Terminating... (a) 288 148 (a) 48 17S <*) ■m 217 180 -w 125 (a)) 173 S5 (a) 36 110 80 180 (a) (a) («) <«) 22 372 (a) 63 (a) 175 250 (a) 45 50 35 (a) (a) (a) 122 (a) 44 35 77 (a) <«) (a) 154 (a) 30 (a) 273 (a) 211 ' TS72 312 (a) ■ (a) 57 97 43 (a) 133 (a) (a) (a) (a) 44 55 25 (a) 84 17 (a) 24 106 (a) (a) 87 03 (a) (a) 48 (a) 58 - 15 (a) 48 76 20 45 («) (a) (a) (a) 136 140 (») 39 i2 (a) 72 152 (a) (a) (a) (a) 23 (a) 8 10 32 (a) (a) (a) 30 (a) 4 (a) 241 (a) 97 381 203 (a) (a) (a) 35 (a) (a) (a) (a) 95 372 165 50 72 281 393 335 304 243 138 217 173 130 231 100 58 144 180 115 225 85 51 278 152 .178 512 191 140 75 135 247 402 268 53 65 38 61 145 115 52 45 109 220 113 440 184 263 34 384 514 575 317 07 77 157 07 130 59 195 168 29 44 208 242 58 86 35 32 110 13 12 34 02 119 196 71 08 31 04 59 34 65 12 26 28 74 34 68 35 12 10 48 58 264 55 30 10 58 127 101 \ 5 I i ; 3 / 3 51 ! 20 ! s 21 14 30 26 83 150 41 79 ■ 5 01 127 , 99 / 85 301 141 122 5 17 1.3 21 04 16 33 16 j 29 1 9 110 49 50 12 3-1 739 4,141 1,088 372 728 3,650 2,572i 3,433 3,060 2,790 1, 5.76 2,297 2,421 1,425 2,590 727 501 1,671 1,757 1,308 2,433 837 394 2,048 2,185 2,261 2,681 2,065 1,844 1,085 1,522 2,081 4,200 2,201 202 213 250J 843 .52 2,238 590 407 372 139 1,300 075 909 4,383 1, 050 2,088 262 1,260 1,849 2,782 2,211 4,310 ,063 ,457 623 534 3,194 410 1,312 502 3,080 1,248 283 406 1,8464 4,231 567 1,710 276 (a) 120 9 (a) (a) •(«) 135 (a) (a) («) (a) 38 95 (a) (a) 30 (a) (a) (a) (a) 12 12 (a) (a) (a) 55 30 9 50 91 73 (a) (a) <«) (a) (a) 31 7 10 15 30 (a) .25 116 37 70 (a) (a) 138 00 90 301 144 143 "(a) (a) 10 27 ' 33 (a) 8 14 (a.) 4 ► 46 (a) W (a) 17 224 REPORT OF THE COMMISSIONER OF LABOR. Tabi/h I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PENIVSTfr. VAIV1 A— Continued. Locality. Name of association. Date of organization. ALLEGHENY CO.— COnt'd.[, Pittsburg. Pittsburg.. Pittsburg- Pittsburg. Pittsburg. Pittsburg. . Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg.. Pittsburg. Pittsburg . Pittsburg. Pittsburg. Pittsburg - Pittsburg. Pittsburg. Pittsburg . Pittsburg . Pittsburg. Pittsburg . Pittsburg . Pittsburg- Pittsburg. Pittsburg . Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg . Pittsburg. Pittsburg. Pittsburg . Pittsburg - Pittsburg. Pittsburg- Pittsburg- Pittsburg. Pittsburg . Pittsburg. Pittsburg - Fittsburg. Pittsburg . Pittsburg. Pittsburg. Pittsburg. Pittsburg. Carson Building and Loan Casb Building and Loan Central Traction Building and Loan Chestnut Building and Loan Columbia Building and Loan of tho T wenty-sixth*Ward Columbus Building and Loan, No. 2 Comet Building and Loan ^. Commonwealth Building and Loan Confidence Building and Loan Crescent Building and Loan, No. 2 Crescent Building and Loan, No. 1 Crescent Building and Loan, No. 2 Crescent Building and Loan, No. 3 Crescent Building and Loan, No. 4 Crescent Building and Loan, No. 5 Dime Building and Loan of the Twenty-fifth, ward Dime Savings Fund and Loan Dispatch Building and Loan Duquesno Heights Building and Loan Dwelling House Building and Loan Eagle Building and Loan Eagle Building of Bloomfield, series 2 Eagle Building of Bloomfield, series 3 East End Building and Loan, No. 1 East End Building and Loan, No. 2 East Liberty Building and Loan Eighteenth "Ward Ten Cent Building and Loan Eureka Savings Fund and Loan Fidelity Building and Loan Fifth Avenue Building Fifth Avenue Traction Building Fireside Building and Loan F. L. Jahn Building and Loan . Pittsburg- .. Pittsburg. .. Pittsburg. .. Pittsburg. .. Pittsburg... Pittsburg. . . Pittsburg . . . rittsburg. . . Pittsburg. . . Pittsburg... Pittsburg... Pittsburg. . Pittsburg. . Pittsburg . Pittsburg- .. Pittsburg... Pittsburg- . . Pittsburg... Pittsburg... Pittsburg. .. Pittsburg... Fort Liberty Building and Loan Fort Pitt Building and Loan, No. 1 Fort Pitt Building and Loan, No. 2 Franlistown Avenue Building and Loan Frankstown Building and Loan, No. 4 Friendship Building and Loan German Building and Loan, No. 1 German Building and Loan, No. 2 Globe Mutual Building and Loan Grant Street Building and Loan, series 3 Great Easteftl Building and Loan, No. 1 Great Eastern Building and Loan, No, 2 Harmony Building and Loan H. C.AVolf Building and Loan Heptasoph's Building and Loan Homo Building and Loan of tho Thirty-first "Ward... Homo Building and Loan of the Twenty-sixth "Ward Improved Building and Loan of the Twenty-eighth "Ward. Improved "Washington Building and Loan Independent Deposit and Loan Industrial Building and Loan Iron and Glass Building and Loan Iron City Deposit and Loan J. M. Gusty Building and Loan Josepbino Building and Loan, No. 1 ■ Josepbino Building and Loan, No. 2 Josephine Bu ilding and Loan, No. 3 Keystono Building and Loan Lawreiico Building and Loan Lincoln Avenue Building and Loan McCandless Building and Loan, series 2 McCaudless Building and Loan, series 3 Merchants' Building and Loan Metropolitan Building and Loan, No. 1 Metropolitan Building and Loan, No. 2 Model Building and Loan Modern Building and Loan Mount "Washington German Building and Loan Mozart Building and Loan Feb. 4, i888 Apr. 1,1886 Nov. 7, 1889 June 20, 1891 Aug. 20, 1888 Feb. 0, 1884 June 1,1887 Jan. 1, 1891 Apr. 17,1890 Aug. 28, 1880 May 8, 1886 June 8,1887 Juno 8,1888 June 8,1889 Jan. 26,1891 Feb. 23,1888 July 1,1890 Oct. 1, 1891 July 30,1887 June 23, 1890 Dec. 5, 1889 Oct. 10,1889 June 23, 1892 Nov. 20, 1886 Apr. 20,1883 July 13,1887 Apr. 14, 1892 Feb. 15,1886 Aug. 1,1887 July 1,1887 Sept. 12,1888 Mar. 1, 1887 Jan. 1,1891 July 26, 1886 July 1,1891 June 20, 1892 July 1,1892 Oct. 4, 1883 Dec. 1, 1891 Feb. 28,1888 July 17, 1888 Sept. 20, 1884 July 29*1891 Jan. 1, 1883 Jan. 1, 1891 Aug. 4,1890 Nov. 6,1886 Feb. 20,1892 Mar. 23,1889 May 15,1890 Sept. 19, 1892 Jan. Sept. Mar. Oct. May Nov. July Oct. May Oct. Jan. May June Juuo Mar. June Oct. Jan. Mar. Aug. Oct. 0, 1889 5, 1891 10. 1888 28. 1889 12. 1890 1, 1890 2, 1885 23. 1889 19, 1892 26, 1892 6, 1888 2. 1888 22, 1886 15. 1890 7. 1889 7, 188G 10, 1892 21, 1889 12. 1888 5, 1885 16. 1889 a Not repojted. CHAPTER I. GENERAL TABLES. 225 Tabus I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PENNSYLVANIA— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders Male. Female. Total Borrow- ers. Shares in- ibrce. Heal estate loans. Local Local .... Local Local Local Local Local Local Local..... Local Local Local Local Local Local Local Local Local Local .... Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local .".... Local Local . . - . Local Local Local Local Local Local Local Local Local H. Permanent . . . Permanent . . . Terminating . Terminating . Permanent. .- Permanent . . . Terminating . Permanent . . . Permanent . . . Permanent . . . Terminating . Terminating . ^Terminating . Terminating . Terminating . Permanent . . . Permanent . - - Serial Serial Serial Permanent . . . Terminating . Terminating . Terminating . Terminating . Permanent . . . Permanent . . . Serial Permanent . . . Terminating . Permanent.-. Terminating . Permanent . . . Terminating . Serial Permanent . . . Serial Serial Permanent. -. Terminating . Permanent . . . Permanent . . . Terminating . Serial Serial Permanent... Serial Permanent . . . Permanent . . . Permanent . . . Permanent.. . Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Terminating ... Permanent Terminating ... Terminating . . . Serial Terminating . . . Serial Serial Permanent Serial Permanent (a) (a) (a) (a) HI 55 (a) (a) (a) (a) (a) (a) (a) (a) 161 182 04 (a) 70 (a) (a) 73 (a) 34 (a) 82 175 (a) (a) 234 (a) 94 fa) («) 51 170 168 69 (a) 103 (a) 44 (a) (a) 5D 104 43 (a) 73 30 (a) 140 (a) 159 (a) (a) ■203 182 119 70 300 188 47 101 140 54 136 256 (a) (a) 22 (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) («) (a) J (a) (a) (a) (a) (a) (a) (a), (a)' 37 (a) (a) (a) (o) ( (a)' I (a) (a) 64 37 47 13 39 48 42 11 24 51 7 40 119 (a) (a) 128 120 410 60 63 34 213 73 39 91 174 22 45 10 29 110 208 245 104 82 100 110 00 89 142 47 121 08 226 110 121 333 210 123 187 50 00 178 219 100 01 110 125 53 420 210 95 132 50 164 107 44 411 198 337 213 240 117 240 229 132 109 157 230 58 125 191 01 170 375 175 324 471 34 100 29 17 34 75 73 2 7 74 7 11 7 S 17 4 32 15 28 29 24 125 15 121 10 52 37 50 98 120 32 187 3 10 120 19 59 78 95 20 130 15 39 52 8 39 11 154 23 84 61 72 9 101 08 20 8 SO 42 47 32 32 61 34 54 73 197 115 1,041 4,990 743 1,450 304 1,194 716 412 1,055 1,720 64 202 50 154 507 4,062 3,127 3,393 592 995 1,114 489 1,210 1,505 424 1,310 1,597 1,712 1,200 977 7,414 1,510 894 1,459 358 449 472 1,188 1,478 702 1,203 3,842 648 4,504 2,691 911 909 351 3,160 1,686 870 9,085 2,690 3,978 2,349 2,685 1,304 4, 710 4, 950 1,500 2,952 1,354 1,858 436 1,204 1,950 686 2,183 2,196 2,008 1,357 5,287 (a) 70 (a) (a) (a) 49 22 (a) (a) W 6 11 6 7 5 52 17 4 13 8 (a) 29 (a) 45 13 (a) (a) 50 20 23 48' (a) (a) (a) 3 148 7 (a) 49 08 97 10 13 55 (o) (a) (a) (a) 23 09 42 71 11 (a) (a) (a) (a) (a) (a) 33 21 30 23 (a) la) (a) (a) (a) Ex. 209- -15 226 REPOBT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. JPElVIVS«'jr.,VAIY»A— Continued. Name of association. Datcof organization. ALLEGHENY CO cont'd, Pittsburg. Pittsburg. Pittsburg. IMttsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. PittBburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg . Pittsburg. Pittsburg. Pittsburg - Pittsburg.. Pittsburg. Pittsburg.. Pittsburg. PittsbuTg. . Pittsburg.. Pittsburg., Pittsburg.. Pittsburg.. Pittsburg. . Pittsburg. . Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg. Pittsburg.. Pittsburg.. Pittsburg. Pittsburg. Rankin Station. Sewickley Sewickley Sewickley Sewickley Sharpsburg: Sharpsburg Sharpsburg..... Sharpsburg'. Sharpsburg Springdale Mutual Savings Fund aud Loau . .. NationalJBuilaing and Loan, No. 1 New American Building , Oregon Building and Loan, No. 3 Orpheus Building and Loan PattisonBuildiug and Loan - Pennsylvania Building and: Loan - Pennsylvania National Savin gsFimd and Loan Peoplo-S' Building and Loan Pittsburg Central Building and Loau Pittsburg Mutual Building and Loan — Pius Building and Loan, series 2 Polish- American Building and'Xoan Popular Building and Loan - Powderly Building and Loan. - Progressive Mutual Savings Fund and Loan Prospect! Building and Loan Provident B uilding and Loan Pulaski Building andLo.in Ficeville Building.and Loan* No. 2 Riceville Building and Loan, No. 3 Koso Building ana Loan Safe Ten Cent Building and Loan Sarah Building and Loan Savings Fund Building and Loan Second 1 Avenuo Ten Cent Building and Loan Security SavingsFund and'Xoan Seventh Ward Building and Loan, series -2 Seventh Ward Building and Loan, series 3 Sixteenth Ward Building and Loan, No. 2 Smoky City Building and Loan, No. 2 Smoky City Building and Loan, No. 2, series 2 Smoky City B uilding and Loan of tho Twenty -fourth Ward. South Sido Building and Loan, South Side Turner Building and Loan , South Twelfth Street Building and Loan Steuben Building and Loan, No. 2 Ten Cent Tutor. Building and Loan Thirtieth AVard Building and Loan, No. 1 Thirtieth "Ward Building and Loau, No. 2 Traction Building, and Loan Turners' Building and Loan Tutor Building and Loan Twelfth WardUnion Building, and Loan Twenty. eighth Ward Building and Loan Twenty-first Ward Building aud Loan, No. 2 Twenty-first Ward Buildingand Loan, No. 3 Twonty-seventh Ward Building and Loan, No. 2, scries 3. Twenty-third Ward Building and Loan Uhland Building aud Loan . ^ United Mutual Building and Loan United, States Excelsior Building, No, 1. United' States Excelsior Building, No. G Unity Building and Loan Utility Building and Loan, No. 1 "Vorwaert's Building; West End Building and Loan '.[ William Penn Building and Loau Workiugmen's Building and Loan, third section, dime series. Rankin Ten Cent Building and Loau Sewickley Building and Loan, No. 1 '.'.'.'.. Sewickley Building and Loan, No. 2: '..'.".'.".'.'.' Sewickley Building and Loan, No, 3 Sewickley Building and Lean, No. 4. \ Dime Savings Building and Loan '.'.'.'.'.'. Excelsior Building and Loan " ' Independent Building and Loan ..[ Keystone Building and Loan, No. 2 ... Valley Building aud Loan '.'.'.'.'. Springdalo Building and Loan *"_' May 20,1887 Nov. 16,1891 May C, 188D Aug. 2,1892 July 39, 1887 Sept.. 29, 1801 Jan. 5,1889 Mar. 1,1892 Apr. 10, 1883 Aug.,24, 1883 Jan. 5,1888 Nov. 8,1890 May 21,1892 Cct. 0,1890 Apr. 25, 1887 Aug. 10, 1887 Oct. 18,1879 Deo. 23,1880 Nov. 12, 1887 Mar. 5,1S8S Jan.. 8,1891 Nor. 2, 1891- May 28,1893 Mar. 22, 1888 June — ,1891 Feb. 22,1801 Jan. 14,1880 Apr. 10,1889 July 1,1891' June 21, 1892 Feb. 4, 188T July 25, 1891 Nov. 10,1891 May 21, 1887 Oct. 10,1890 Feb. 0, 1SS8- Deo. 19,1887 Sept. 10, 1892 Jan. 3, 1883 Deo. 19,1887 Feb. 4, 1889 Apr. 9,1885 Oct: 18,1886 Feb. 29, 1892 Oct. 1, 1886 Mar. 22, 1886 Feb. 4, 1889- Deo. 30,1889 July 10, 1885 June 11, 1887 Feb. 3, 1883 Oct. 0, 1890 June 9,1891 Jan. 0, 18S8 Oct. 9, 1888 Nov. 11,1889 Apr. 1,1886 Aug. 20, 1888 Jan. 18,1889 Jan. July July July July July May Dec Jan. May Nov. 1, 1892 1, 1884' 1, 1888 1, 1888 1, 1890 11, 1893 20, 1889 5. 1887 1. 1888 21,1887' 26, 1887 a Not reported. CHAPTER I, GENERAL TABLES. 227 I^ble I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PEHN SIX V AWT A— Continued. Local or national. local National Local Local Local Local Local National . Local Local Local Local Local Local Local Local Local Local Local . ..... Local Local Local Local Loeal — i - Loeal Loeal Local Local Local Local Local Local Local — Permanent, termi- nating, or serial. Shareholders. Male. Local Loeal Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Loeal Local Local Local Local Local Local.. Local - Local Local Permanent' Permanent.. Permanent Terminating Serial Permanent Permanent Permanent Serial Serial Serial Permanent Permanent Permanent Permanent Permanent Serial Serial Permanent Terminating Terminating Permanent Permanent .- Serial Permanent Permanent. Permanent Terminating Terminating Terminating terminating . Terminating Permanent Permanent . . . Permanent . . . Permanent.. - Terminating . Permanent. . . Permanent . . . Permanent . - . Serial Permanent *.. Permanent . - . Permanent . . . Permanent . . . Serial Terminating . I^ermsiient . . . Serial Permanent... Xierminating . Terminating . Tierminating . Permanent - - . Permanent... Permanent... Permanent . - . Permanent . . . Permanent Permanent... Terminating . Terminating . Terminating . Terminating . Piermanent . . . Terminating . Terminating . Permanent . . . Serial Serial Female-. Total 140 (a) 148 62 161 (a) 333 (a). 454 119 78 77 215 (a) (a) (a) (a) 23fi 41 62 81 (a) 230 124 181 181 30 85 75 100 58 129 122 88 171 57 146 143 48 (ff)- (a) 123 (a) 126 (a) 93 64 93 51 (■«) (a) 139 (a) (a) 31 145 (a) (a) (a) (a) (a) (a) (a) 19 (a) (a) 64 118 77 96 (a) 57 20 52 (a) 105 178 51 9. (a) 3 41 (0!) (a) (a) (a) 42 20 32 25 ) 85 37 32 73 7 21 12 27 20 (a) 44 14 103 21 49 76 37 (a) (a), (a)' f (a)' 31 (a) (a)' (a) 31 (a) (a) (a) (a) (a) (a) (a) 137 (a) (a) 230 1,272 205 82 216 113 438 ] 058 632 170 87 05 80 250 166 217 228 249 278 61 94 100 148 315 161 213 257 43 100 87 127 78 Borrow- ers. Shares in force. 34 105 40 210 44 20 28 8 27 52 62 61 27 121 61 21 14 43 109 32 2 57 31 31 25 127 19 166 40 102 3 274 76 78 78 195 36 21!) 64 85 27 338 91 346 76 154 86 135 8 185 65 122 88 120 64 82 20 110 28 59 22 175 (o) 54 7 170 13 261 53 444 64 37 17 194 50 88 45 105 38 61 1 44 17 31 14 28 10 45 9 156 51 84 33 82 82 96 38 164 108 113 23 923 12, 048 3,899 971 1,685 1,368 4,430 8,936 4,837 1, 559 945 470 056 3,001 1,507 3,610 1451 2,126 2,110 597 929 1,160 4,024 2,424 1,935 1,300 2,371 402 826 764 1,447 1,010 1,649 2,594 2,395 3,952 776 2,376 2,098 781 2,808 4,308 1,622 3,027 1,680 915 1,121 087 1,076 449 1,936 793 2,610 2,151 9i850 795 1,817 706 1,791 254 269 238 410 1,174 839 767 735 1,344 582i Real estate loans. liar- gin. num- ber. 63 80 30 59 (a) 83 (a) 206 26 13 15 (a) 22 (a) W (a) 19 71 (a) (a) (a) 22 (a) {a) 2 (a) 23 18 67 19 18 33 (*) 50 40 (a) (a) (a) (a) 12 33 (a) 25 11 (a) . 7 14 (a) (a) 3 48 17 40 1 13 11 10 6 41 27 42 28 75 29 228 REPORT OP THE COMMISSIONER OF LABOR. Tari.k I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PJENNSV1.VAIVIA— Continued. Locality. Name of association. Date of organization. ALLEGHENY CO.— COIlc'd. Tarentum Turtle Croek . Verona Wilkinsburg . Wilmerding . . ARMSTRONG COUNTY. Apollo Freeport Kittanning . Leechburg. . BEAVER COUNTY. Beaver Beaver Beaver Falls Beaver Falls Beaver Falls New Brighton New Brighton New Brighton Rochester Rochester Rochester "Wept Bridgewater . BERKS COUNTT. Hamburg Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Reading Stony Creek Mills . BLAIR COUNTY. Altoona. Altoona. Altoona. Altoona. 61 I Altoona.. Natural Gas Building. and Loan . . . East Pittsburg Building and Loan . Verona Building and Loan Wilkinsburg Building and Loan . . . Air Brake Building and Loan Apollo Mutual Building and Loan. Freeport Building and Loan Kittanning Building and Loan Leechburg Building and Loan Beaver Building and Loan County Seat Building and Loan Beaver Falls Building and Loan People's Building and Loan Workingman's Building and Loan Beaver County Building and Loan Beaver Valley Building and Loan New Brighton Building and Loan Capital Building and Loan Central Building and Loan of Beaver County . Equitable Building and Loan, No. 3 Bridgewater Building, No, 2 Hamburg Building and Loan Columbia Building and Savings, No. 4 Equitable Savings and Loan, No. 2 Franklin Building and Savings, No. 3 *. Friendship Building, and Savings, No. 3 Germania Building and Savings, No. 3 Hampden Building and Savings, No. 2 • Homestead Building and Savings, No. 3 Homestead Building and Savings, No. 4 Homestead Building and Savings, No. 5 Homestead Building and Savings, No. 6 Jefferson Building and Savings, No. 3 Jefferson Building and Savings, No. 4 Keystone Building and Savings, No. 2 Keystone Building and Savings, No. 3 National Building and Savings, No. 2 Neversink Building and Savings, No. 3 Neversink Building and Savings, No. 4 Northeast Building and Savings Northwest Building and Savings , Progressive Building and Loan Provident Building and Savings, No. 1 Provident Building and Savings, No. 2 Reading Eagle Employes' Savings Fund Ringgold Building and Savings, No. 1 Ringgold Building and Savings, No. 2 Schiller Building and Savings, No. 3 Schiller Building and Savings, No. 4 Schuylkill Valley Building and Loan Union Building and Savings, No. 3..... Washington Building and savings, No. 3 West Reading Savings Fund ancf Loan, No. 3 . West Reading Savings Fund and Loan, No. i . William Penn Building and Savings . . . ." Stony Creek Mills Building and Loan Allegheny Loan and Building, No. 3. Altoona Building and Loan Blair County Loan and Building Citizens' Loan and Building Eighth Ward Loan and Building Feb. —,1886 June 1, 1889 Jan. 1, 1887 Apr. 2,1885 Aug. 26, 1889 July 12, 1886 Nov. 26, 1886 Jan. 18,1892 Juno 1, 1889 Feb. Apr. Apr. Apr. May Apr. Apr. Nov. Jan. Oct. Jan. Aug. 11, 1889 1, 1892 1, 1878 23. 1888 30. 1889 1, 1892 1, 1876 17. 1887 11. 1888 3, 1889 31. 1889 3, 1891 a Not reported. Nov. — , 1891 Sept. 14, 1887 Apr. 24, 1888 Oct. 28,1885 .Oct. 15,1889 Feb. 9, 1891 Apr. 29, 1890 Mar. 23, 1880 Apr. 28, 1882 Jan. 11,1888 Apr. 14, 1891 June 23, 1887 Oct. 24,1889 Mar. 19,1881 May 15,1882 Dec. 19,1887 Aug. 24, 1883 Sept. 25, 1891 Feb. 26,1884 Aug. 21, 1882 Dec. 5, 1888 Feb. 12,1888 May 21,1888 Oct. 26,1886 Oct. 3, 1832 May 24,1888 July 6, 1885 July 21,1886 Nov. 22,1883 May 27,1890 Oct. 24,1889 Sept. 3,1889 Aug. 13, 1891 Sept. 24, 1881 Aug. 11, 1891 Oct. 31,1889 Jan. 21,1889 Aug. 20, 1890 Mar. 2, 1887 Nov. 4 1889 CHAPTER I. GENERAL TABLES. 229 Tai-.lk I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. I'EIVNS'Vr.VAIVIA— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total .Rorrow- cre. Shares in force. Real estate Joans. Local . Local . Local . . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local . Local. Local . Local . Local . Local . Local . Local. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . * Serial Permanent . Serial Permanent . Permanent. Serial . Serial . Serial . Serial . Terminating . Serial Serial Permanent... Permanent . - - Serial Serial Serial Permanent... Serial Terminating . Terminating . Terminating . Terminating . Serial Terminating . Terminating - Terminating . Terminating . Terminating . Terminating - Terminating . Terminating . Terminating - Terminating . Terminating . Terminating . Terminating . Terminating - Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Serial . Serial . Serial . Serial . Serial . (a) 277 71 (a) 117 129 (a) (a) (a) (a) 385 (a) 310 (a) (a) 102 292 94 («) 237 (a) 171 («> <«) (a) 234 («) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 119 227 110 24 (O) <«> (a) (a) 192 (a) (a) 291 296 (a) 09 (a) (a) (a) <«) 08 (a) <«> 42 (a) (a) (a) V, (a) ', (a) (a) 43 135 37 (a) (a) 11 (a) (a) (a) C (a) (a) W (a) fa) (a) (a) (a) W (a) (a) (a) («) (a) (a) (a) (a) I (a)' (a) 103 107 (a) (a) (a) (i) 310 185 371 122 160 151 203 41 199 214 113 001 555 310 380 852 1,219 145 427 131 209 047 281 424 300 343 209 210 874 800 581 000 400 410 487 723 221 343 298 300 158 303 203 24 310 1,200 512 700 248 870 538 394 403 482 92 ISO 218 167 255 195 80 07 121 35 39 73 25 261 200 140 100 357 401 55 103 129 18 22 45 31 101 31 92 83 12 75 30 70 80 141 50 15 50 50 8 1 7 92 70 101 95 00 30 39 14 12 1,566 1,361 2,482 885 1,521 926 1,481 238 837 1,376 953 3, 987* 2, 975" 1,700 2, 499£ 4,193 4, 592* 880" 2,419 1,524 1,118 762 1,4411 1, 606i 1,520ft 932J 3,000 1,886 937* 1, 106 j 2, 238 3,000 1,029 1,757 686 709* 1,871 517 1,500 073 068 832 1,800 1.386 108 972J 2,048 942i 1,043 1,275 2,500 1,732*. 2,279 2,459 0914 500 73 («> 122 24 36 09 25 (a) 195 115 (a) (a) 395 39 133 (a) 17 (a). 4S 24 97 31 1 77 87 80 12 76 27 01 71 133 53 15 55 51 G 1 5 3 91 73 91 102 53 28 42 8 10 72 3 1,042 54 1,464 09 1,127 (a) 1,799 135 1,229 42 230 REPORT OF THE COMMISSIONER OF LABOR. Tablis I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd, PENNSYLVANIA- Continued. Locality. Name of association. Date of organization, 1JI.AIR COUNTY— COnc'd. Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Altoona Bellwood Duneansville . Tyrone Tyrone Tyrone BRADFORD COUNTY. Atbcns . Sayre . . . BUCKS COUNTY. Bristol „. Bristol Bristol Bristol Laughorne Morrisville . .. New Hope Newpoitvjllo . Newtown Quaker town .- Quakertown . . Kiegelsville... Tullvtown Yardley BUTLER COUNTY. Butler . Butler . Butler . Butler . Butler . Butler . Butler . Butler . Butler . Butler . CAMBRIA COUNTY. Conemaugh . Ebensburg.. Gallitzin Johnstown . Johnstown . Johnstown . Enterprise Loan and Building, No, 2 Equitable Loan and Building Excelsior Building and Loan ,.. Fame Loan and Building Fidelity Building, Loan, and Savings Franklin Loan and Building Germania Building and Savings, No. 2 Hope Building ana Loan Independent Building and Loan Jefferson, Loan and Building Juniata Building and Loan Keystone- Building and Loan _ Logan Loan and Building Mutual Building and Loan renn Building and Loan, No. 2 Pennsylvania Building and Loan. - People's Building r.nd Loan Provident Building and Loan _ Security Building and Loan Standard Building and Loan TeutoniaLoan and Building Vigilant Building and Loan Washington Loan and Building, No. 2... Workingmen's Building and Loan Bellwood Mutual Building and Loan Duncansrille Building and Loan ^ Central Building and Loan Improvement Building and Loan Tyrone Building and Loan, No. 3 Athens Building, Loan, and Savings Sayre Building and Loan n Bristol Building Fidelity Building Merchants and Mechanics' Building Union Building and Loan Company Langhorne Building and Loan _.. Mechanics' Mutual Loan and Building New Hope Building and Loan ... Benevolent Building and Savings Fund - Newtown Building and Loan Quakertown Building and Loan - "Working/man's Building Riegelsville Building and Loan..... AVilliam Penn Mutual Loan and Building Yardley Building and Loan Citizens' Building ami Loan, scries 1 Citizens' Building and. Loan, series 2 Citizens' Building and Loan, aeries 3 Eureka Building and Loan Mechanics' Building and Loan People's Building and Loan "Workingmen's Building and Loan, scries I _ Workingmen's Equitable Building and Loan, series B "Workingmen's Equitable Building and Loan, series C "Workingmcn'sEquitablo Building and Loan, series D Conemaugh Building fuul Loan Ebensburg Building and Loan Gallitzin Building and Loan Cambria Building and Loan German Loan, Building, and Savings. Johnstown Building and Loan J'eb. 10, 1887 May 5, 1881 Mar. 24, 1886 May 10, 1887 June 28, 1884 Mar. 23, 1882 Nov. 5,1883 July 18, 1884 Dec. 17,1889 Apr. 1,1880 July 7,1892 Ji'eb. 9,1878 Mar. 1, 1877 Nov. 19, 1888 Jan. 2. 1S92 Feb. 20, 1892 l-'eb. 7, 1885 July 8,1887 Dec. 5, 1885 Ue.c,. 13, 1887 July 12, 18815 Nov. 28,1888 Apr. 5,1889 May 31, 1883 JaD. 22, 1892 Deo. — , 18B7 July 10, 1886 Sept. 24, 1890 May 19, 1887 Oct. 4,1887 Juno 1,1885 Dec. 3,1366 Jan. 12, 1885 Nov. 3, 1885 May 11, 1874 Aug. 10, 1891 Sept. July 26, 1888 16,1880 Juno 2, 1885 Juno 1,1888 Aug. 3, 1886 Apr. 11, 1682 Jan. 1, 187G Aug. 17, 1834 (0) Mar. 1,1890 Jan. 3, 1891 Jan. 2,1892 Mar. 30, 1888 l<'eb. 1,1890 l-'et). 5, 1887 Koh. 5, 1892 Feb. 12.18S8 Deo. 24, 1880 .Feb. 18, 1890 Oct. 25, 1889 May 23, 1892 Nov. 29,1886 June 1,1886 An r 1, 1882 Dec. 11,1871 a Not reported. CHAPTER I. GENERAL TABLES. 231 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. PENBTS fL TANIA- Continued. Local or national . Permanent, termi- nating, or serial. Shareholders. Male. Female. Borrow- ers. Shares in force. Real estate loans. Local . . Local . . Local . . Local . Loeal . Local . Local . Local . Lceal . Local . Local . Local . Local . Local . Local - Local - Loeal . Local . Local . Loeal . Loeal - Local - Local . Local - Local . Local . Local . Local . Lceal. Local . Local - Loeal . Local . Local . Local - Local . Local . Loeal . Local . Local . Local . Local - Local . Local . Local . Local . Local . Loeal . Local . Local . Local . Loeal . Local . Local . Loeal . Local . . Local . . Local . . Local . . Local . . Local . . Serial Serial Serial Serial Serial Serial Terminating . Serial Serial Serial Serial- , Serial Serial Serial Serial Permanent . . . Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Serial . Terminating . Serial . Serial . Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Serial . ■. Serial Serial Termina/ting - Torm-maiting . Terminnting . Serial Serial Terminating . ToriniB'a'tiD'g . T«rmana>tiBig . Ternainatim-g . Terminating . Serial Serial Serial Serial Twrnina-timg Serial (a) («) 221 231 471 550 152 (a) 99 183 183 457 508 150 134, (ft) 333 «« (a) 151 (*> (a) (a) (a) (a) 108 161 275 174 193 145 144 155 121 152 120 112 239 (a) 97 192 35 90 («) (a) 123 6 (a) («) 104 (a) (a) (a) 20 81 110 140 30 (a) {a) 14 (e) (a) t (a) (a) (a) (a) (a) (a) (a) (a) (a) («) 85 184 (a) 190 616 247 312 587 705 182 380 110 244 204 527 602 193 156 548 473 295 370 195 353 180 243 483 90 149 195 352 231 242 218 221 211 220 219 157 147 290 101 155 231 42 105 177 76 120 108 100 38 168 10 140 65 97 104 191 141 450 872 362 1.013 55 360 100 91 287 422 162 202 23 86 21 306 293 47 26 47 220 98 128 53 128 35 65 215 12 42 128 83 125 00 20 240 265 95 461 1, 400 4, 472J 1,97% 2,070 4,806 3,160 1,001 3,040 832 l, (a) 322 67 18 85 (a) («) 900 227 54 281 362 154 516 131 52 183 72 21 93 93 20 113 (a) (a) 224 (a) («) 465 (a) (a) 240 (a) (a) 189 (a) (a) 79 (a) (a) 94 (a) fa) 53 (a) (a) 131 (a) (a) 475 (a) (a) 212 (a) (a) 254 290 2C4 494 (a) (a) 246 Borrow- ers. Shares in Real estate loans. 1,278 98 844J 34 1,237 75 1,946,',- 84 337J 17 638 92 1,500 24 945 97 1,024 142 1,187 65 1,200 20 1,493 35 1,000 10 1,270 75 816 140 850 36 539 68 2,590 406 900 20 1,158 '88 1,186§ 51 1,437 90 1,512 1C 1,136* 40 1,031 43 418 32 944*. 41 876 45 1, 181J 57 l,559i 61 3,132 194 2.147 <«> 699 10 1,334 233 1,127 128 1,982 50 894 225 768 58 717 (a) 1,164 85 2,500 23 865 62 1,372 50 430 (a) 454 (a) 127 19 480 36 2,396 117 1,046 57 804 25 2,924 91 845 84 Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Serial , Serial Serial Serial Serial Terminating Serial Terminating Terminating Terminating, Terminating*. Terminating Terminating . Terminating Terminating Terminating Terminating Serial Permanent . Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating Terminating Terminating Terminating Serial Terminating Terminating Terminating Terminating Terminating Serial Terminating Terminating Serial Terminating Terminating Serial Terminating (a) 24 97 151 65 20 35 10 75 140 36 68 400 83 62 83 15 43 76 42 42 53 75 62 196 10 533 129 58 120 36 59 85 23 62 •19 45 6 19 31 117 58 25 91 64 234 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME/ LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. 5»JE NIVStL VA3VEA— Continued. DAUPHIN COUNTY — COUc'd. Harrisburg .. Harrisburg . Harrisburg . Harrisburg.. Harrisburg . . Harrisburg . . Harrisburg . . Harrisburg . . Harrisburg . . Harrisburg ... Harrisburg . . Harrisburg ... Harrisburg . . Harrisburg . , Harrisburg - Harrisburg . Harrisburg . Harrisburg . Harrisburg ... Middletown. Middletown. Middletown. Steeltou Steelton Steelton Steeltou Steelton DELAWARE COUNTY. Chester Chester Chester Chester Chester Chester Chester Chestor Chester Chester Clifton Heights.. Collhigdale Darby Fernwood Garrettford Lansdowne Lenni Mills Linwood Station. Media Morton Morton Morton Kutledge Rutledge Thurhrw "Wayne ELK COUNTY. Johnsonburg . Ridgway Itidgway ERIE COUNTY. Erie Erie _ FAYETTE COUNTY Connollsville Uniontown Friendship tBudlding-and Loan,No. 2 German National iiuilding and Loan Germama Building and Loan Harris BuildiH^-TaaHlXoafQ Harrisburg BuiMingand Loan, No. 1 Harrisburg Building and Loan, No. 2 ..... . Keystone Loan, No. 2 Mount Pleasant Building and Loan National Savings Building aod Loan. . Peopled Building, Loan, and Savings Safe Deposit Building and Loan , State Savings and Loan Teutomia Building and Loan, No. 3.,. Union Building and Loan * "Washington Building and Loan, No. 2 "West Harrisburg Building and Loan, No. 1 West Harrisburg Building and Loan, No. 2 "West Harrisburg Building and Loan, No. 3. "William Penn Building and Loan... Londonderry Building and Loan, series 1. . Londonderry Building and Loan, series 2... Middletown Building and Loan Citizens' Building and Loan Felton Building and Loan People's Building and Loan >. Steelton Building and Loan, No. 2 Steel "Workers' Building and Loan Chester and Upland Building Chester Building , Excelsior Savings Fund Franklin Building and Loaai Industrial Building and Loan Keystone Building and Loan - Pennsylvania Savings, Loan, and Building . People's Building and Loan - Provident Building and Loan Union Building and Loan Clifton Hoights Building and Loan Home Building and Loan Sharon Building Fernwood Building . Upper Darby Building and Loan Lausdowne Building and Loan , Central Loan and Savings Linwood Building and Loan Media Loan and Savings, No. 2 Folsom Building and Loan Morton Building and Loan Springfield Building and Loan Government Mutual Building and Loan Kutledge Mutual Building and Loan Iron "Workers' Building "Wayne Building and Loan Elk National Savings and Loan , People's Building and Loan Ridgway Building and Loau Mutual Building and Loan "Workingman's Building aud Loan People's Building and Loan United States Excelsior Building and Loan a Not reported. Apr. Mai. 1,1891 8, 1888 June 27, 1884 Apr. 10, 1886 June 6, 1881 July- 1, 1890 Apr. 8, 1880 June 3, 1891 Feb. 24, 1890 Doc. 1, 1889 Apr. 1, 1892 Oct. C, 1890 Apr. 2, 1891 Apr. 30, 1890 Apr. 5, 1886 June 3, 1886 Sept 2,1887 Juno 3, 1891 May- 12, 1888 June 24, 1887 Aug. 25, 1891 -Nov. 22, 1881 Apr. 26, 18S6 Mar. 22, 1887 Feb. 23, 1892 Mar. 5, 1892 Feb. 26, 1890 Oct 13, 1873 Dec. 2, 1873 Oct. 16, 1886 May 25, 1885 Juno 10, 1881 May 27, 1882 Nov. 7, 1889 May 26, 1883 Oct,. 20, 1883 Sept. 11,1890 June 28, 1870 Feb. 1, 1890 July 22, 1876 Fb1>. 24, 1873 July 23, 1868 Dec. 17, 1888 Mar. 19, 1889 Apr. 3, 1886 Apr. 19, 1809 Jan. 18, 1889 Oct. 5, 1885 Feb. 12, 1872 Sept. 3, 1888 Oct 1,1885 Nov. 29, 1879 Dec. 4, 1886 Fob. 27, 1891 July 27, 1891 Apr. 24, 1891 Jan. 1. 1888 July 10, 18T8 Oct. 6, 1890 Feb. 18, 1892 CHAPTER I. GENERAL TABLES. 235 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PEIV1VS ¥1 VA.JSXA— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Pemale. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al num- ber. Local . Local . Local . Local . Local - Local . Local - Local . Local - Local . Local . Local . Local . Local . Local . Local . Local . Local - Local - Local . Local . Local . Local - Local . Local . Local . Local . Local . Local - Local . Local . Local - Local . Local . Local . Local . Local . Local - Local . Local . Local - Local . Local . Local - Local . Local . Local . Local - Local . Local . Local - Local . Local . Local . Local . Local : Local . Local . Local . Local . Ternnnaxmg . Terminating - Terminating . Serial Terminating - Terminating . Terminating . Serial Terminating . Permanent . - . Serial Serial Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Serial Terminating . Terminating . Terminating . Terminating . Terminating . Serial .. Serial . Serial - Serial . Serial . Serial - Serial . Serial . Serial . Serial . Serial . Serial - Serial . Serial - Serial . Serial . Serial . Serial . Serial . Serial - Serial . Serial - Serial . Sorial . Serial - Serial . Permanent . Serial Serial Serial . Serial . («) 25 (a) (a) (a) (a) 154 (a) (a) (a) 262 60 336 (a) 170 (a) (a) (a) (a) Serial Terminating . 45 80 287 59 (a) 185 (a) (a) (a) 131 244 101 100 146 65 (a) (a) ( a) (a) (a) (a) (a) 83 54 264 97 (a) V, (a) (a) 110 110 14 358 161 156 230 (a) (a) If (a) (a) (a) (a) i (a) (as) (a) 84 103 32 226 77 (a) r (a,) ' (a) (a) (a) (a) ( (a) (a) (a) 131 135 29 48 63 49 (a) (a) (a) (a) (a) («) (a) 15 139 32 (a) i (a) (a) 48 (a) 429 378 61 247 59 180 238 60 60 37 305 92 562 265 252 50 71 174 218 51 90 367 74 130 251 227 420 379 130 157 209 114 142 162 123 231 132 217 35 114 296 73 09 403 129 327 258 12 368 143 174 16 183 194 156 287 221 07 (a) 138 34 70 22 25 65 42 109 122 30 64 313 11 83 71 14 78 38 112 9 51 50 12 22 207 37 104 73- 6 (a) 1,449 1,367 297 1, 693J 335 1,247 1,276 286 270 158 1,871 232 2,516 1,691 768 296 312 1,057 1,026 226 442 2,194 385 590 1,320 1,357 1,493 636£ 1,489 1.241J 673| 933 1.368J 548J (a) (a) 98 53 37 61 5 7 6 (a) 11 51 (a) (a) (a) (ai 39 (a) 27 9 (a) 48 75 (a) (a) (a) 921i 65 798 16 1,637 96 910 53 1,985 96 222J (a) 647 64 1,876 (a) 463 10 379 17 2,448| (a) 5931 35 3,4741 79 3,1 02 J 77 382 6 2,206 (a) 867 61 920 41 92 (a) 1,393 (a) 1,213 28 733 37 1,391 70 1,550 31 800 (a) 236 REPORT OF THE COMMISSIONER OF LABOR. Table I,— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. IPEIVUrS i'L VAIVI A— Continued. Locality. Name of association. Date of organization. FRANKLIN COUNTY. Chambersburg Chambersburg GREENE COUNTY. "Waynesburg Waynesburg INDIANA COUNTY. Blairsville Blairsville Saltsburg JEFFERSON COUNTY. Big Run Brockwayville Punxsutawney Punxsutawney Punxsutawney Keynoldsville JUNIATA COUNTY. Mifflintown LACKAWANNA COUNTY Duninore Scranton Scranton Scranton Scranton Scranton Scranton Scranton Scranton Scranton Scranton Scranton Scranton Scranton Scranton Scranton Taylor Taylor LANCASTER COUNTY. Christiana Columbia Columbia Columbia Lancaster Lancaster Lancaster Lancaster Lancaster LAWRENCE COUNTY. New Castle New Castle New Castle LEBANON COUNTY. Lebanon Lebanon Lebanon Lebanon Franklin Building and Loan Mechanics' Building and Loan Citizens' Building and Loan "Waynesburg Building and Loan Conemaugh Building and Loan Home Building and Loan Ki skim in etas Building and Loan Big Run Building and Loan Brockwayville Building and Loan Home Building and Loan Mahoning Building and Loan Punxsntawney Mutual Building and Loan ReynoldsvilloBuilding and Loan I'Vimanangh Building and Loan Dunmore Building and Loan Anthracite Building and Loan Commonwealth Building and Loan Electric Building and Loan Equitable Building and Loan German Building German Building, No. C Germania Building and Loan Harmony Building and Loan, No. 2 Home Building and Loan Industrial Building and Loan Lackawanna Buildin g and Loan Meadow Brook Building and Loan Schiller Building and Loan Suburban Building and Loan "West Side Building and Loan German Building and Loan - Taylorsville Building and Loan , Christiana Building and Loan r Columbia Building, No. 1 Columbia Building, No. 2 Saint Joseph's Building, No. 2 American Mechanics' Building and Loan Home Building and Loan People's Building, Loan, and Deposit Company .. Union Building and Loan "West End Building and Loan New Castle Mutual Building and Loan People's Mutual Building and Loan United States Excelsior Building and Loan No. 3 Economy Building and Loan Fidelity Building and Loan Homestead Building and Sayings People's Building and Loan . ..-, # a Not reported. July- G, 188ft Apr. 20, 1890 July- 7, 1890 May 7, 1888 June 17, 3880 Feb. 16, 1891 Oct. 1,1890 Mar. 18. 1890 Feb. 17, 1890 Oct. 6, 1890 May 2, 1892 Apr. 9, 1885 Apr. 21, 1890 Apr. 8, 1879 Jan. 9, 1891 Sept. 23, 1890 Apr. 20, 1891 June 1, 1889 Nov. 1, 1885 June 1, 1886 Aug. 1, 1890 Juno 7, 1886 fob. 26, 1891 May -1, 1892 Juno 6, 1892 July 17, 1890 Nov. 26, 1888 June 26, 1886 Oct. 1, 1887 Aug. 21, 1888 Jan. 20, 1890 Apr. 1, 1888 July 23, 1890 Nov. 19, 1885 .Nov. 28, 1889 Mar. 6, 1889 Dec. 26, 1868 Sept. 19,1888 June 12, 1875 Apr. Mar. 30, 1875 16, 1886 Sept July 29, 1887 24, 1887 May 13, 1892 Aug. 13, 1890 May 11, 1886 Deo. 14, 1882 Dec. 4, 1876 CHAPTER I.— GENERAL TABLES. 237 Tabus I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PEMNSYLVANIA- Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Female. Total Borrow- ers. Shares in force. Heal estate loans. Local - Local . Local . Local . Local - Local . Local . Local . Local . Local . Local - Local . Local . Loc.-.l . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local - Local . Local . Local . Local . Local . Local - Local - Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Terminating . Serial Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Terminating . Terminating . Terminating . Serial Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating - Terminating . Terminating . Serial Terminating . Terminating . Terminating . Serial Terminating . Terminating . Terminating . Serial Serial Serial Serial Serial Serial . Serial . Serial . Serial . Serial . Serial . Serial . 110 265 (o) (a) 258 177 62 102 (a) 262 127 810 178 160 (a) 250 186 21 484 335 320 338 (a) («) 270 (a) 363 (a) 458 137 80 195 (a) (a) (a) («) (a) 536 437 500 179 (n) 256 43 187 292 418 (a) (a) (a) (a) 98 52 324 136 (a) 35 37 4 211 90 101 47 (a) (a) 30 (a) 63 (a) 113 13 6 30 (a) (a) (a) (a) («) 97 227 SCO 56 (a) 07 05 142 («) 136 316 214 (a) 315 241 79 132 73 360 179 1,234 314 120 285 223 25 695 425 421 385 (a) (a) 300 409 426 376 571 150 86 225 117 227 184 241 479 033 664 050 235 360 286 50 254 357 560 567 (a) 200 35 14 44 24 95 54 592 111 17 95 20 139 303 174 275 (a) («) 20 80 115 240 178 41 9 148 14 157 39 91 127 89 219 201 01 140 101 56 128 293 396 531 1,693 1,366 2,070 371 594 298 2,079 958 4,993 2,251 1,210 665 2,065 1,289 159 1,529 2,353 2,495 1,906 1,587 1,710 2,170 2,455 1,547 2,196 1,731 554i 184" 1,099 443 1,247 831 1,170 2, 534J 2,333 1,633 3,731 1,388 2,414 1,800 565 1,431 1,796 3,301 4,413 350 40 14 <«) (a) 118 (a) (a) 134 17 95 20 (a) (a) 128 105 275 (a) (a) (a) 220 178 41 (a) 148 9 147 37 98 114 98 194 (a) 53 (a) (a) («) 71 170 390 495 238 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PENNSYLVANIA -Continued. Kame of association. Bate of organization, LEHIGH COUNTY. Allentown. - Allentown.. Allentown.. Allentown.. Catasauqua. Catasauqua. Slatington.. Slatington.. LUZERNE COUNTY. Hazleton "Wilkes Barre. LYCOMING COUNTY. Hughesville Jersey Shore... _ "William sport William sport - - - MERCER, COUNTY. 15 Sharon JIONROE COUNTY. Stroii dsbnrg MONTGOMERY COUNTY. Bryn Mawr Cheltenham Conshohocken Conshohockon Hatboro Huntingdon Valley.. ttenkintown Jenkinto wn Norristown Norristown Norristown Pottsto wn Eosemout "West Conaholtocken. NORTHAMPTON COUNTY. Bethlehem , Easton Easton Ereemansburg. _ South Bethlehem South Bethlehem South Bethlehem , NORTHUMBERLAND CO. Mount Carmel Mount Carmel Shamokin Sunbury PHILADELPHIA COUNTY. Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia. Philadelphia.- Philadelphia. Mechanics' Loan and Building Mutual Loan and Building . . _ Pennsylvania Loan and Building Security Building Catasauqua Building and Loan Home Building Excelsior Building and Loan Keystone Building and Loan Middle Coal Field Building and Loan . . . Keystone Building and Loan Hughesville Building and Loan Provident Building and Loan German Building "West Branch Building and Loan Sharon Building and Loan Commonwealth Building and Loan Bryn Mawr Loan and Building Cheltenham Building, No. 2 -. Home Savings Eumd and Loan Welcome Savings Eund and Loan Hatboro Building and Loam Huntingdon Valley Building Abington Building ... Jenkmtown Building National Saviugs Eund and Loan, No. 2. Star Loam "West Norristown Building and. Loan Guardian Building and Loan Rosemont Loan and Building Rising Sun Building and Loan Bethlehem Building and Loan Northampton County Building and Loan West Ward Building. ..'. Ereemansburg Building and Loan Equitable Bunding and Loan Industrial Building and Loan Soutli Bethlehem Building and Loan Anthracite Building and Loan Citizens' Building and Loan Home Building and Loan Susquehanna Building and Loan Acme Building and Loan Active Building and Loan Active Building, No. 2 Adelphia Loan and Building Alert Building Allegheny Avenue Building and Loan... Allegheny Building, No. 2 a Not reported. Mai-. Oct. Oct. Jan. Jan. Mnr. May Aug 7, 1892 27, 1888 28, 1891 10, 1883 7, 1890 4, 1887 10, 1887 1, 1890 Oct. Sept 16, 1889 30, 1887 Jan. Feb. Apr. Aug. 28, 1892 16,1889 25,1867 5,1886 Oct. 3, 1889 May 1, 1878 Feb. 18,1874 Jan. 11,1865 Aug. 3,1882 July 7, 1884 June 14, 1866 June 7,1871 Nov. 14, 1870 Sept. 26, 1878 Nov. —,1868 Mar. 26, 1880 Nov. 29, 1886 May 20,1888 Mar. 2, 1885 Sept. 17, 1878 Jan. 20,1887 Mar. 15,1892 May 6, 1873 Sept. 30, 1872 Deo. 6, 1883 Dec. 4, 1890 Dec. 16,1886 May 26,1882 May 31,1880 Feb. 28,1888 July 3, 1876 May 6, 1890 Mar. —,1883 Feb. 3, 1888 Nov. IS, 1888 May 1, 1889 Feb. 10,1871 Mar. 15,1888 CHAPTER I.-— GENERAL TABLES. 239 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd, I*EIVIVS"VJLVAIV1A— Continued. Local or national. Local Loeal Local. Local Local Local Local Local Local Local Local,. Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local. Local. Local. Local . Local" . Local . Local . Local. Local ■ Local Local Local Local Local Local Local Looal Local Local Local Loeal Local Local Local Looal Local Local Permanent, termi- nating, or serial. Serial Serial Serial Serial Serial Serial Terminating Terminating Serial Serial Serial Serial Serial Serial' Serial Serial Serial Serial" Terminating. Terminating Serial Serial Serial Serial- Serial Serial Serial Terminating Serial Serial Terminating' Serial Serial Serial — -.. Serial Terminating. Serial Serial Serial Serial Serial ... Serial Serial Serial Serial Serial Serial Serial Shareholders,. Borrow- ers. Hale. Female. Total. (a) to) 167 13 350 100 450 53 (a) (a), 256 18 225 127' 452 90 (a) (<*> 125 22 (a) («): 420 76 (a) (a) 110 64 (a) (a) 130 35 (a) (a)- 279 45 (a) (a) 225 72 02 24. 88 15 (a) (a) 119 29 105 42 147 54 164. 40 204 61 (a) (a) 302 124 197 3-7 234 52- 182 92 274. too (a) (o) 16.0 47 (a) (a) 94 54 (a) (a) ' 45 25 H8 42 190 77 138 38 179- (a) (a) (a) 100 48 (a) (<*) 315 116 (a) (a) 162 38 (a) (a) 220 50 147 64 211 28 (a) (a) 496 146 (a) to) 538 41 189 111 300 80 (a) (a) 125 37 (a) (a) 172 12 (a) (a) 317 127 (a) (a) 213 166 (a) (a) 232 76 (a) (*) 268 26 (a) • (a) 215 77 509 264 773 259 (a) (a) 683 476 240 81 321 93 68 13 81 24 (a) (a) (a) 19 402 164. 566 121 182 98 280 72 (a) (a) 54 18 W (a) 77 14 314 92 406 114 (a) (a) 144 32 Shares in force. 902 2,990 2,074 2,582 6214 1, 6734 637 700 1,500 1,420 335i 565 599 853 2,180 1, 703k 520, 2814' 1, 174, 1,391 952 2,090 742. 1,280 li 172 2,580 2, 598^ 1, 382* Real estate loans. 545 31 1, 782J (o) 3, 841i 86 2,451 122. 1, 149- 68 887 25 1,405 58 3, 7474 378 3,413 518 1,356 95 454 27 1,179 15 4, 0164 106 2, 2914' 02 656J. (a) 356 10 3,044 96 1,127 (a) (a) (a) 18 78 22 76 40 35 (a) 49 25 (a) (a)i 33. (a) 25 39 28 101. (a) (a) 240 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PENNSYLVANIA- Continued. Locality. Name of association. Date of organization. PHILADELPHIA CO. — cont'd Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia 'Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia 'Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Allison Building and Loan Amber Building and Loan American Enterprise Building and Loan American Instalment Building and Loan Anchor Building and Loan Annual Series Building and Loan Anthracite Building and Loan Aramingo Building and Loan Ark Building and Loan Artisans' Building and Loan, No. 1 ArtisanB' Building and Loan, No. 2 Art Workers' Building and Loan Ashland Building and Loan, No. 3 Assistance Building and Loan, No. 1 Assistance Building and Loan, No. 2 Assurance Building and Loan Atlas Building and Lean Bakers' Building and Loan Belgrade Building and Loan Bellevue Building and Loan Belmont Building and Loan Belrose Building and Loan Ben Franklin Building and Loan Berean Building and Loan Best Plan Building and Loan Bi-Centennial Building and Loan Bluecher Building, No. 3 Bluecher Building, No. 4 Bluecher Building, No. 5 Borrowers' Building Bourier Building and Loan Bridesburg Building Bridesburg Perpetual Building Building and Loan, No. 90 Building and Loan, No. 155 Bulletin Building Bush Hill Building, No. 1 Bush Hill Building, No. 2 Bush Hill Building, No. 3 Cable Building and Loan Cadwalader Building Caledonian Building, No. 2 Cannstatter Building Carpet and Hoisery Building and Loan . . Cedar Building Centennial Building and Loan Century Building and Loan Charles Carroll Building, No. 1 Charles Carroll Building, No. 2 Charles Clare Building and Loan, No. 1. . Charles Clare Building and Loan, No. 2. . Charles Claro Building and Loan, No. 3 . . Charles Clare Building and Loan, No. 4 . . Charles Clare Building and Loan. No. 5 . . Charles H. Salmon Building and Loan . . . Charles Tyroll Loan and Building Chelten Hills Mutual Improvement Chestnut Hill Building and Loan City Hall Building and Loan City of Homes Building and Loan City of Penn Savings Fund and Loan . . . Cohocksink MutualBuilding and Loan . . College Building Collingdale Building, Land, and Loan . . . Columbia Avenue Building Columbia Building and Loan Columbus Building and Loan Combination Building and Loan, No. 4 ... Combination Building and Loan, No. 5 . . . Commercial Building and Loan Commodore Stewart Building and Loan. Concord Building and Loan Consolidation Building Constitutional Building a Not reported. June 25, May May 12, May ■ 9, Feb. — . Apr. 25. July 2ft Feb. 29. Dec. 16. Feb. 8 Oct. 19 May 11 Sept. — Dec. 1 Sept. 29 Apr. 15 Apr. 30 Feb. 4 July 3 Dec. 2, May 24, Mar. 6. Feb. 12 Mar. Jan. Jan. Sept. 27 Mar. 1 Mav 1 Sept. 9 Oct. 28 Jan. 1 Apr. 19 Feb. 1 June — Apr. 19 Jan. 5 Oct. 1 Aug. 1 Doc. 1 June 16, Mar. 18 Jan. 13 Oct. 13 Nov. 23 Oct. 27 Not. 9 Oct. 29 Aug. 8, Sept. 19 Oct. 24 Oct, 24 Dec. 19, Nov. 8 Dec. 26 Aug. — July 17 Dec. 14 Jan. 24 Oct. — Nov. — July 22. Oct. 2 Feb. — Sept. 28 Apr. 9 June 1 Jan. 1 May 20 Jan. 4 May 8 Nov. 2 Sept. 19 1872 1876 1890 1889 1874 1873 1868 1892 1876 1869 1873 1878 1886 1874 1883 1887 1889 1884 1889 1872 1888 1880 1872 1888 1889 1883 1879 1879 1881 1886 1889 1868 1869 1888 1889 1881 1877 1869 1884 1377 1884 1869 1884 1881 1886 1872 188S 1882 1883 1881 1885 1886 1888 1889 1881 1870 1867 1885 1883 1876 1882 1870 1888 1888 1876 1871 1890 1885 1890 1889 1892 1872 1883 1887 CHAPTER I. GENERAL TABLES. 24$ Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. PENNSYLVANIA— Continued. Local or national. Local . . Local . . Local . Local - Local . Local . Local . Local . Local . Local . Local . Local .- Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local ■ Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local . Local. Local . Local . Local . Local . Local ■ Local . Local . Local • Local . Local . Lo(jal . Local . Local . Local . Local ■ Local . Local . Local . Local . Local . Local . Permanent, termi- nating, or serial. Shareholders. Male. Female. Total Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Serial Serial . Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Terminating . Terminating . Terminating . Terminating . Serial Serial Serial Terminating . Serial Serial Serial Serial Serial Serial Serial Serial Wrial Terminating . Terminating . Serial Serial Serial Terminating . Serial (a) 122 143 (a) (a) (a) 400 (a) (a) 251 70 (a) (a) (a) (a) (a) 1] (a) IS (a) W (a) (a) (a) 106 351 174 33 CO 283 502 (a) (a) 82 142 350 134 59 (a) E (a) (a) («), (a)" (a) i (a) (a) (a) (a) (a) 82 163 72 270 44 (a) (a) ! (a) (a) 4 (a) I (a) (a) (a) (a) W •«t) (a) 18 (a) (a) (a) (a) 21 (a) (a) (a) («) <«) (a) (a) ( (a)' (a) (a) (a) (a) (a) 26 31 107 51 7 19 108 136 (a) (a) 12 08 171 52 20 (a) \ (a) (a) (a) 1 (a) (a) I (a)' (a) (a) la) (a) 56 38 129 17 75 (a) (a) ■; (a) (a) : (a) ] (a) M (a) (a) (a) (a) (a) 25 101 152 170 219 78 346 110 610 357 181 308 100 156 13? 136 134 340 138 328 105 174 101 (a) 102 139 137 458 225 40 85 301 638 122 204 94 210 521 186 79 230 76 380 109 180 138 102 91 83 53 85 229 110 399 01 285 538 104 109 52 57 306 29 119 223 143 117 91 124 80 142 Borrow- ers. 35 39 22 81 18 193 4 74 09 36 82 60 :a 35 34 33 83 21 110 28 53 19 (a) 23 59 29 105 78 15 18 148 290 40 41 37 53 175 54 24 91 32 78 14 37 14 28 49 22 22 20 24 11 26 83 51 117 57 74 109 63 31 7 5 83 10 14 45 28 14 12 27 48 42 Shares in force. 150 700 1,513 1,024 1, 591i 403i 2, 569* 788 4,003 2, 011£ 1,049£ 1,961* 8134 850" 083s 1,352 1,243 2,890 845J 2, 236J 1, 192 1,2444 636 774i 8024 1,159 716 2, 8484 1,478 276 712 2,553 4,838 787 981 1,165 1,950 4,316 1,359 581 1,104 675 2,673 323 1, 126J 333 510* 1,072 738 382 440 400 247 235 2, 0364 825J 5,082 748 2,076 3, 586J 1,5824 1,031 372 284 2,508 104 405 667 630i 493 737 743 1,837 (a) 32 (a) 18 48 21 156 (a) 53 45 28 54 43 23 22 28 27 59 (a) 110 16 57 22 19 (a) 18 19 100 71 (a) 8 154 169 28 24 29 35 129 38 21 56 39 64 12 19 12 18 50 27 (a) (a) (a) (a) (a) 69 43 78 29 50 71 39 21 (a) 66 8 6 24 10 10 6 34 24 41 H. Ex. 209- -16 242 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PEIV JVS VI. VAIVI A— Continued. Locality- Name of association. Date of organization. PHILADELPHIA CO. — cont'd Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Pniladelphia Continental Building ■ Corinthian Building and Loan Crescent Building and Loan Cumberland Building and Loan, No. 1 Cumberland Building and Loan, No. 2. . - Daniel O'Connell Building Dauphin Building David Smyth Loan and Building Decatur Building Delaware Building Delaware River Building and L^an Diamond Building and Loan Dickerson Building, No. 4 Dime Building. Disston Building and Loan, No. 2 Dry Dock Series Building — . East End Building and Loan East PaTk Building and Loan Economy Building and Loan Economy Building, No. 1 Eintracnt Building Eleventh "Ward Series Building Elm Building t Elm Tree Building and Loan Elmwood Building and Loan Emerald Building Emmet Building and Loan, No. 1 Emmet Building 1 and Loan, No. 2 Empire-Building- and Loan Energetic Building Equitable Building and Loan .' Erie Building Erin Building Essington-Cor.bindale Building and Loan E. T. Ty sc ra Building and Loan Eureka Building Eair Chance Building and Loan Eairmount Avenue Building and Loan Fairmount Building and Loan Falls of Schuylkill Building, Savings Fund, and Loan Eern Rock Building and Loan Fidelity Building Fifth ward Building and Loan Finance Building and Loan FrankfordBuildingand'Loan Franklin Building/No. 6 Franklin Square Building and Loan Franklinville Building, Loan, andLand Franz Abt Building and Loan , Garfield Building Gem Building and Loan , George ~W. Hyde Savings Fund, Loan, and Building . . George ~W. Hyde Loan and Building, No. 2 George W. Hyde Building and Loan, No. 3 G eorgo "W. Nebinger Building German- American Building and Loan German Building German Cuntral Building, No. 1 „ German Crntral Building, No. 2 , German Central Building, No. 3 , German Enterprise Building German Fairhill Building, No. 2 .', German Lehigh Building German Philadelphia Central Building ... German Rising Sun Building and Savings, No. i. German Southeastern Building, No. 1 ^ German Southeastern Building, No. 2 '. [ftf German Union Building Germania Building and Loan ..'.'_ Germantown Avenue Building Girard Avenue Building, No. 2 Girard Building, No. 2 Girard Savings and Loan a Not reported. Feb. Apr. Apr. Nov. July Feb. Mar. Oct. ■Jan. Feb. Aug. Dec. May Oct. Dec. Nov. Oct. Jan. Aug. Dec. Deo. Mar. Sept. Sept. Jan. Jan. Feb. Mar. Nov. Feb. Jan. Aug. Apr. Jan. Apr. Nov. Apr. Apr. May Aug. Oct. June Sept. Sept. June June June May Mar. Jan. June Feb. Dec. Apr. Apr. Mar. Mar. Sept. Dec. Jan. May July Mar. July Oct. Apr. Mar. Mar. Feb. Nov. Apr. 20, 1888 13, 1877 8. 1889 14. 1871 7,1873 3,1886 15,1883 10, 1877 —,1889 10. 1883 5, 1872 3. 1888 1, 1882 14,1889 —,1879 8,1883 13, 1877 10. 1888 24,1888 15, 1886 5. 1881 13,1882 1, 1884 15. 1872 20,1866 15,1888 19. 1884 — , 1889 30, 1870 — , 1871 4, 1887 17. 1884 27, 1882 2,1891 18, 1881 25. 1889 18. 1881 — , 1875 3. 1882 — , 1867 1,1889 — , 1873 — , 1873 11. 1890 15, 1868 20, 1877 11, 1889 1, 1868 31. 1882 1, 1882 24, 1889 2,1873 25, 1874 9,1882 18,1873 2. 1890 11,1887 1. 1881 1. 1882 15. 1885 — , 1880 9. 1882 7,1884 8, 1881 15, 1876 1,1884 1. 1889 21, 1870 6. 1883 6, 1S72 15. 1879 9, 1877 8, 1886 CHAPTER I. GENERAL TABLES. 243 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PEHHTSTLTAKU- Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Male, Female. » Total. .90 68 158 40 187 62 249 41 (a) (a) 132 22 (a) (a) 237 62 (a) (a) 189 80 (a) (a) 122 69 (a) (a) 343 96 264 84 348 101 (a) (a) 337 121 61 13 74 36 87 10 127 48 (a) («) 73 29 (a.) «*) 412 99 (a) (a) 60 12 (a) (a) 87 .21 133 16 149 24 (a) (a) 72 19 (a) (■«) 85 24 (a) (a) 129 28 (a) (*) 220 (a) (a) (a) 297 95 (a) (a) 197 41 (a) (a) 125 42 (a) (a) 174 44 (a) («) 125 25 (») (a) 105 33 (a) (a) ' 345 118 (a) (a) 277 33 38 .14 52 24 (a) (a) 85 17 110 50 160 61 50 24 74 27 (a) (a) ■225 92 (a) (a) 54 6 4C0 123 523 133 (a) (a) 134 34 (a) (a) 189 38 (a) (a) (a) (a) 140 35 175 43 (a) (a) 138 56 84 23 107 34 233 82 .315 60 (a) (a) 180 67 71 15 86 10 238 109 347 87 121 34 155 32 (a) (a) 249 40 99 57 156 59 (a) (a) 121 49 124 21 145 12 24 71 95 30 28 35 63 21 218 132 350 103 (a) (a) 193 33 42 20 62 11 (a) («) 104 21 69 24 93 29 56 23 79 61 01 20 81 55 62 25 87 30 (a) (a) 535 168 (a) (a) 443 130 317 .77 394 102 (a) < 250 80 (a) (a) 415 139 75 30 105 39 174 73 247 28 208 113 321 103 99 21 120 71 (a) (a) 270 83 (a) (a) 420 80 103 27 130 21 (a) («> 182 50 Shares in force. ] Real estate loans, i 1,301 31 1,936 45 966* 22 1, 942 52 1,136 (a.) 1,059 38 2,468 83 2, 1774 (a) 1,994 112 527 19 796 40 487 10 3,369 .96 798 6 868i 16 957 , 18 453 14 807 15 859 26 1,708 (a) 1,214 44 1,077 .32 1,050 39 931J 42 468J 24 904* 22 2, 607i W) 1, 385* 24 341 17 767 17 1,831 57 645 23 1,149*. 50 467* 5 3, 629* " 134 1,280| 25 1,181 33 1, 323J (a) 685 (a) 1,139 54 655* 17 2,067 53 1,915 55 290 (a) 1, 735£ 85 866 30 1,899 22 2,020 33 856 30 931 18 718 (a) 580 (*) 2, 086* (a) 1,139 20 320* 8 632 24 820 21 5uS 25 528 24 SI 8 20 3,858 144 3,466 93 2.272 111 1,461 (a) 1,944 137 858 29 1,965 25 2,557 90 1,270 46 1,711 62 2,326 76 888 13 1,285 38 Local . . . Local . . . Local... Local . . . Local . . . Local . - Local-. Local-. Local . . Local . . Local . - Local . - Local-. . Local , . Local . - Local - . Local . . Local . . Local . . Local .- Local . . Local . . Local . . Local . . Local.. Local . . Local.. Local . . Local . . Local - . Local . . Local . . Local .. Local . . Local . . Local .. Local . . Local . . Local . . Local . . Local . . Local . • Local . . Local . . Local . . Local . . Local . . Local . . Local . . Local . . Local . . Local . . Xocal . . Local . . Local . . Local . . Local . . Local . . Local . . Local . . Local . . Local . . Local . . Local . . . Local . . , Local . . Local . . . Local . . , Local . . Local . . . Local . . . Local . . . Local . . . Serial Serial Serial Serial Serial Terminating Serial Serial Serial - Terminating Ser i ii-1 Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating Serial Serial Serial Serial Serial Terminating Terminating Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating Terminating Terminating Terminating Serial Serial Serial Serial Serial Terminating Serial Serial Terminating Serial Serial Serial Serial .244 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PENNSVL V A NI A— Continued. Locality. Name of association. Bate of organization. PHILADELPHIA CO.— Cont'd Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Philadelphia Glen wood Mutual Building Glohe Building, No. 3 Goethe Building, No. 2 Goethe Building, No. 3 Good Hope Building Goodwill Building and Loan Green Hill Building aod Loan Guarantee Building Gurnoy Building and Loan Hancock Building Handel and Haydn Building and Loan Hand-in-Hand Building and Loan Harmonie Building and Loan Harp Building and Loan Harrowgate Building Haverford Loan and Building Haymarket Building and Loan ". Hazel Loan and Building HeDry Christian Building and Loan Henry H. Koelofa Building and Loan Hercules Building and Loan Hermann Building and Loan, No. 1 Hermann Building and Loan, No. 2 Hermann Building and Loan, No. 3 Hermann Building and Loan, No. 4 Hihernia Building Home Builders" Building and Loan Home Building Home Building and Loan Home Building and Loan of Germantown . . Homo Building Society of Frankford Home Guarantee Building and Loan Home Investment Building and Loan Home Makers' Building and Loan Home Providers' Building and Loan Home Seekers' Building and Loan Homestead Building and Loan Homeward Building and Loan, Householders' Building^ and Loan Humboldt Building and. Savings, No. 7 Humholdt Building and Savings, No. 8 Income Building Indian Queen Building Industry Building and Loan, No. 2 Industry Building and Loan, No. 3 Influential Building and Loan Integrity Building Investment Building and Loan Investors' Building and Loan Invincible Building and Loan Ironsides Building and Loan Irish- American Building and Loan Ivy Building Jackson Building and Loan James B. Cowden Building and Loan John Adams Building and Loan John Bley Building and Loan John B. Stetson Building and Loan John Mechesney Building Joseph R. Clausen B n ild in g an d Loan Joseph R. Lyndall Building and Loan, No. 2 Kenderton Building and Loan Kensington Avenue Building and Loon Kensington Building Kensington Hand-in-Hand Building Kensington Industrial Building and Loan.. Kensington "Workingmen's Building, No. 2 . Kevstono Building Knickerbocker Building and Loan __ Laurel Hill Building Leamy Building and Loan Lebanon Building and Loan- Ledger Loan and Building, No. 4 Lehigh Avenue Building and Loan a Not r<^» f > rt ed. Mar. 5, 1887 July — , 1872 Mar. 19,1878 Deo. 3, 1883 Feb. 24,1870 Sept. 4,1876 (a) June 24, 1875 Nov. 4, 1872 Sept. 7,1879 Dec. 17,1879 May 3, 3882 Aug. 4,1879 Nov. 9, 1883 Jan. 17,1887 June 1,1869 Apr. 2, 1878 July 16,1872 Jan. —1873 Jan. 19,1892 Dec. 18,1890 Apr. 15,1878 May 18,1878 Ar.g. 17, 1878 —,1883 Apr. 15,1891 Apr. 29,1885 Oct. 14,1867 19, 1870 2, 1873 8, 1870 8, 1890 8, 1890 2G, 1883 7, 1889 -, 1884 _. 20,1890 Apr. —,1876 July 15,1874 Julv 19, 1878 May 24,1883 May 2, 1865 Aug. 8,1884 Mar. 23,1877 July —,1888 May 18,1874 Oct. 24,1887 Mar. 1,1867 Mar. 26,1877 Oct. 19, 1888 Nov. 25,1869 Oct. 20,1890 May 27,1882 May 15,1872 Dec. 9, 1876 Dec. 8, 1888 Juno 1,1883 Dec. 11,1880 Mar. 19,1872 Mar. 17,1879 Mar. 1,1887 May 24,1872 Jan. 12,1891 Dec. 23,1883 Mar. 14,1873 Mar. 7,1884 Mar. 26, 1873 Nov. —,1886 Mar. 17,1876 June 29, 1869 Oct. 21,1889 Jan. —,1876 Jan. 22,1889 Oct. 3, 1877 Nov. Sept. Mar. Jan. Apr. Nov. May Feb. Mar. CHAPTER I. GENERAL TABLES. 245 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PENNSYLVANIA -Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Male. Female. Total. .Borroiv ers. Shares in force. Keal estate loans. 1, 0404 (a) 846 16 1,936 90 1,429 55 2,571 («) 3,950 (a) 385 11 2,615 112 9174 55 4,058 148 2,045 54 1,252 42 732 (a) 862 34 628 (a) 2,731 81 512 53 518 21 1, 060£ (a) 651 4 567A 4 1,576 54 1,411 52 ],43S1 53 449 11 1, 0454 18 1,210 49 973 32 1,868 57 3,730 90 1,757 73 498£ 10 528 3 2,542 129 6964 16 791 <»> 1,865 (a) 338J 13 1,789 44 1,457 39 1,052 29 980 25 2,370 56 24 5 730J (a) 947J 21 1,609 33 1,944 55 439 (a) 451 13 5674 25 744J 8 820 10 1, 5554 66 1,764 63 1, 052* 21 1,359 (a) 3,210 51 7851 10 387 7 4641 15 1,379 51 1, 1871 (a) 2,720 90 1,463 51 1, 1824 58 4,249 159 7254 16 350 11 1,067 39 730 (a) 1,151 52 1,107 18 1, 2544 (a) Local — Local . . . Local . . . Local. - - . Local - . . Local . - - Local - -- Local ... Local. -- Local--- Local — Local — Local--- Local ... Local . . . Local . . . Local . . . Local... Local... Local ... Local - . . Local . . . Local . . . Local..". Local... Local... Local . . . Local . . . Local . . . Local . -■- Local . . . Local . . . Local . . . Local . . . Local . . . Local... Local . . . Local . . . Local . . . Local . - . Local . . . Local... Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local... Local... Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local . . . Local Local . . . Local Local Local Local Local Local Local Lccal Lopal Local Local Local.... Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Serial Serial Serial , Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Serial Serial - -. Serial Serial Serial Serial - Serial Serial Serial . -. Serial - ; Serial Serial ..::.:.. Serial ..:.;:.: 77 (a) :i; 410£ 2, 736J 923 416i 678 2,346 1,013 920*. 653 763 2,226 023 541 2, 021J 2, 165f 1, 293*. 784*. 1,671 1,381*. 2,353 569*. 423 3,126*. 911*. 1,0211 3841 (a) 17 (a) (a) 65 138 44 21 20 33 (a) 2 90 54 55 30 18 33 69 75 (a) 24 29 27 (a) 3 34 47 20 5 66 ■ 32 25 56 41 22 19 41 24 28 42 9 132 (a) 122 (a) 40 15 199 (a) 6 20 38 14 41 27 20 71 6 26 94 91 77 43 (a) (a) 67 25 (a)- 107 16 42 9 250 EEPOET OF THE COMMISSIONER OF LABOR. Table E.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PENNSYLVANIA— Continued. SCHUYLKILL COUNTY. Ashland Ashland Ashland Ashland Barnesville . Name of association. PHILADELPHIA CO.— COnc'd Philadelphia. Philadelphia. Philadelphia- Philadelphia. Philadelphia. Philadelphia. Philadelphia. Philadelphia. . Philadelphia. Philadelphia. . Philadelphia. . Philadelphia- . Philadelphia. . Philadelphia. . Philadelphia.. Philadelphia.. Philadelphia. . Philadelphia.. Philadelphia. . Philadelphia.. Philadelphia. . Philadelphia-. Philadelphia. . Philadelphia.. Philadelphia. . Philadelphia.. Philadelphia.. Philadelphia.. Philadelphia. . Philadelphia. . Philadelphia.. Philadelphia.. Philadelphia. . Philadelphia. . Philadelphia. . Philadelphia. - Philadelphia.. Philadelphia- - Philadelphia. - Philadelphia. . Philadelphia. . Philadelphia. , Philadelphia- . Philadelphia. . Philadelphia. - Philadelphia. . Philadelphia- - Philadelphia. - Philadelphia. . Philadelphia.. Philadelphia. . Philadelphia.. Philadelphia.. Philadelphia. . Philadelphia.. Philadelphia.. Philadelphia.. Philadelphia. . Philadelphia. . Philadelphia. - Philadelphia.. Philadelphia- . Philadelphia. . Philadelphia.. Sherman Building and Loan Solar Building Somerset Building and Loan Somerton Building and Loan South Philadelphia Building and Loan, No. 2 Southwestern Building, No. 2 Spartan Building and Loan Standard Building and Loan State Mutual Savings Fund, Loan, and Building. . . Stephen Girard Savings, Loan, and Building Sterling Building and Loan Successful Building Sure Investment Building and Loan Surety Building and Loan Susquehanna Avenue Building, No. 1 Susquehanna Building and Loan, No. 2 Sylvania Building and Loan Tacony Building and Loan Toutonia Building, No. 2 Thirteenth Street Building Thirteenth "Ward Building and Loan Thirtieth "Ward Building and Loan Thirty-fifth "Ward Building and Loan Thurlow Building Tioga Building Tradesmen's Building and Loan, No. 2 Tradesmen's Buildingand Loan, No. 3 Tradesmen's Savings Fund and Loan of Conshohocken Triennial Savings and Loan Triumph Building Triumph Building and Loan, No. 2 True Plan Building and Loan Trust Building and Loan Twenty -first "Ward Building Twenty-ninth "Ward Building and Loan Union Building and Loan Union Savings and Building •. United Building and Loan University Building and Loan Van Pelt Building and Loan Vienna Building Vine Building Vineyard Savings, Loan, and Building "Warren Building and Loan, No. 2 "West Columbia Avenue Building and Loan "West Girard Avenue Building and Loan West Market Street Buildin g an d L aan "Westminister Building West Park Avenue Building and Loan West Philadelphia Building, No. 3 West Philadelphia Gcrmania Building and Loan. . Wharton Building, No. 1 Wharton Building, No. 2 Wharton Building, No. 3 Wharton Building and Loan William Penn Building Willimantic Building and Loan Wissahickon Building : Wissinoming Building and Loan Workingmen's Building and Loan Workingmen's Club and Belief Building and Loan Wyndom Building and Loan Wyoming Loan and Building Young Men's Building Bate of organization Ashland Savings Fund and Loan Citizens' Savings and Loan Locust Mountain Savings and Loan.. Miners and Laborers' Savings Fund . Barnesville Building and Loan Jan. 3,1800 Jan. 15,1860 Fob. 3, 1877 Apr. 13,1868 Apr. 17,1880 Apr. 18, 1859 Mar. 2, 1891 Oct. 7, 1875 June 3,1872 Apr. 24,1876 Mar. 26, 1872 Oct 12,1871 Jan. 12,1891 June 20. 1870 Apr. i; 1873 July 2, 1887 July 9,1885 Dec. —,1873 May —,1878 Feb. 25,1891 Apr. 17,1883 Sept. 6,1878 Aug. 17, 1891 Aug. 22, 1881 Mar. 7,1873 May 4, 1870 Oct. 15,1870 May 28,1889 Mar. 8, 1890 Mar. 20, 1891 Aug. 16, 1882 Nov. 17,1878 Oct. 30,1889 Sept. 15, 1879 Mar. 13,1873 May 21,1867 Feb. 2, 1854 Dec. — ,1885 Jan. 10,1889 Apr. — , 1887 June 1,1885 Oct. 20,1887 Mar. 3, 1377 Dec. 13,1881 Jan. 13,1885 Mar. 20,1891 May 21,1874 Fob. 11,1889 July 15,1889 Mar. 12,1872 Oct. —,1876 Nov. 14,1882 May 15,1885 Jan. 4, 1887 Nov. 22, 1884 Doc. 5, 1870 June 1,1877 Sept. 15, 1873 War. 1.18S6 Mar. 12, 1884 Oct. 15,1803 Jan. 8, 1891 July 14, 1873 Apr. — , 18«2 July 28,1873 Jan. 24, 1874 June 23, 1879 Aug. 22, 1873 Feb. 11,1882 a Not reported. CHAPTER I. — GENERAL TABLES. 251 Tabie I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. PENlVSYIiVAIVIA— Continued. Local or national. Permanent, termi- nating, or Berial. Shareholders . Male. Female. Total. Borrow- ers. Shares in force. Real estate loans. Mar- num- ber. Local . . Local . . Local . . Local . . Local . . Local . . Local . LoGal. Local - Local . Local - Local. Local . . Local . Local . Local . . Local . . Local. Local . . Local . . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local . Local . Looal- Looal - Local. Local . Local . Local - Local . Local - Local . Local .. Local . Local - Local. Local . Local . Local . Local . Local - Local. Local . Local . Local - Local . Local . Local . Local . Local . Local . Local . Local . Local. Local . Local . Local. Local. Local - Local . Local. Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial .- Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Seria! Serial Serial Serial Serial Serial Serial Terminating . Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Serial Terminating . Serial - Serial - Serial - Serial . Serial . (a) (a) 84 117 71 41 (a) (a) (a) (a) (a) (a) (a) (a> (a) (a) (a) (a) (as) (a) (a) (a) (a) 1 (a) E (a) (a) (a) 20 37 19 45 (a) (a) («> (a) (a) (a) (a) (a) (a) 335 101 196 110 148 123 57 278 148 134 238 127 118 180 085 238 45 499 243 83 138 120 173 139 115 148 169 127 131 136 64 130 93 253 (a) 83 435 540 187 120 112 72 («) 46 (a) 56 129 226 214 195 228 102 340 340 78 35 141 209 124 330 75 74 266 76 1,192 787 1,432 64 108 41 61 18 47 30 8 86 22 24 48 44 5 62 202 60 10 155 54 8 42 43 14 34 42 36 37 21 49 4 40 41 19 61 (a) 21 102 62 24 31 34 12 (a) 4 (a) 73 103 89 20 18 49 101 46 81 29 15 95 63 518 246 715 31 2,417 1241 1,122* 327 1,007 829 533 4,271 766 720 2,031 6424 4141 1,055 3,231 1,742 208 4,613 1,038 8324 827 95% 1,776 8144 682 721i 745 652 785 924 466 670 567 1,300 844 398| 2,959 1,445 1,414 863 9521 455 1, 0504 316 619 328 847 1, 3404 1, 3584 1,095* 1,840 629 2,319 2,561 3764 228 1,466 1,758 1,158 2, 500J 462 390 2,090 894 2, 190 3,846 2,723 4,820 209 67 (a) <«) 28 45 24 8 (a) 14 20 38 33 5 52 190 40 (a) 173 (a) 40 10 32 (a) 28 19 25 16 4 24 26 16 59 (a) (a) 96 55 13 (a) 40 12 («) 16 (a) 5 44 21 16 44 60 62 71 (a) (a) 41 (a) (a) (a) 389 518 48 320 25 252 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PENNSYLVANIA— Continued. Mar- Locality. Name of association. Date of organization. SCHUYLKILL CO.— COnc'd, Coaldale Cressona Donaldson Frackville Girardville Girardville Gordon , Mahanoy City Mahanoy City Mahanoy City Minersville Pine Grove..: Pine Grove Pottsville Potts ville Schuylkill Haven . Shenandoah Shenandoah Shenandoah Tamanend Tamaqua Tower City Tremont Tremont--, TIOGA COUNTY. Wellsboro VENANGO COUNTY. Franklin . Oil City . . Oil City... Oil City . . WARREN COUNTY. "Warren WASHINGTON COUNTY. Canonsburg .. Canons burg... McDonald Monongahela . Washington . . "Washington . - "Washington . . "Washington . - Washington . . "Washington . . WESTMORELAND COUNTY. Avonmore Derry Station Greensburg Greensburg Green sburg Irwin Irwin Jeannette Latrobe Latrobe Mount Pleasant. . . Mount Pleasant . . New Kensington Scottdale Scottdale Coaldale Building and Loan Citizens' Building and Savings Donaldson Building and Loan Broad Mountain Building and Loan Girard Savings Fund and Loan People's Building and Loan Gordon Building and Loan Fidelity Building and Loan Serial Building and Loan "Washington German Building and Loan Minersville Building and Loan Central Building and Savings "West End Building and Loan Central Building , Pottsville Building and Loan, No. 2 Schuylkill Building and Loan Citizens' Building and Loan Miners, Mechanics, and Laborers' Building and Loan . Mutual Savings Tamanend Building and Loan , Tamaqua Building and Loan Williams Valley Savings Fund and Building Hancock Building and Loan Logan Building and Loan "Wellsboro Building and Lor.n . Mutital Building and Loan . . . Home Building and Loan Keystone Building and Loan . Mutual Building and Loan . . . Helping Hand Building and Loan . Canonsburg Building and Loan United States Excelsior Building, No. 1. . . Mutual Building and Loan Home Building and Loan Keystone Building and Loan Mutual Building and Loan People's Building and Loan Progressive Perpetual Building and Loan- United States Excelsior Building, No. 1 "Washington Building and Loan Avonmore Building and Loan Derry Building and Loan Greensburg Building and Loan Homo Building and Loan "WestmorclanuBuilding and Loan.. Equitable Building and Loan Irwin Building ana Loan Gem Building and Loan Home Building and Loan Latrobe Building and Loan Citizens' Building and Loan Mount Pleasant Building and Loan . Burrell Building and Loan Fountain Building and Loan Scottdale Building and Loan Jan Jan, Jan. Mar. Oct. 11,1889 May 25,1888 Feb. 25,1889 Aug. 23, 1887 Apr. 1,1881 May 22,1882 Apr. 30, 1888 Nov. 9,1874 Sept. 26, 1882 May 25,1881 Jan. 30,1889 Dec. 9, 1889 1, 1884 17, 1884 26, 1889 26, 1883 (a) July 31,1889 June 22, 1871 Apr. 17,1891 Jan. 4, 1892 Mar. 31,1886 Aug. 25, 1890 Juno 7,1883 Jan. 15,1887 Feb. 11,1886 Dec. 11,1890 Jan. 19,1891 Sept. 15, 1873 Feb. Feb. Sept. Mar. Apr. Feb. Apr. May June May July May Aug. Apr. Dec. Mar. Mar. June Apr. Aug. Apr. Nov. Oct. May Apr. 21, 1887 1, 1892 20, 1887 16, 1892 5, 1889 24. 1887 27. 1888 14. 1889 29, 1891 26, 1883 13, 1891 1, 1883 25, 1873 4. 1889 0, 1887 2. 1891 — , 1886 24, 1889 5. 1892 31, 1883 22, 1891 25, 18S7 ]5, 1891 9. 1890 3, 1876 a Not reported. CHAPTER I. — GENERAL TABLES. 253 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. PEIYIVSVI-VAIVFA— Continued. Local or national. Permanent, termi- ' nating, or serial. Shareholder:). Borrow- ers. Shares in force. Real estate loans. Mar- gin- al OUD3' ber. Male. Female . Total. Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Local Lccal Local Local Local Local Local Local Terminating 126 97 (a) (a) (a) 668 (a) 655 (a) (a) 142 133 (a) 175 216 (a) 422 308 58 97 (a) 349 240 86 79 (a) (a) 248 314 181 109 (a) 137 (a) 135 201 (a) (a) 49 57 64 194 416 (a) 256 155 (a) 97 88 99 (a) 223 70 (a) 282 51 11 (a) (a) (a) 225 (a) 245 (a) (a) 60 69 (a) 35 149 («) 335 94 42 18 (a) 186 142 50 15 («) (a) 99 80 53 29 (a) 23 (a) 59 103 (a) (a) 20 8 7 36 192 (a) 96 42 (a) 22 26 53 (a) 153 12 (a) 44 177 108 102 156 545 893 213 900 821 686 202 202 49 210 365 325 757 402 100 115 75 535 382 136 94 229 467 347 400 234 138 80 160 133 194 304 123 173 69 05 71 230 608 91 352 197 013 119 114 152 162 376 82 140 326 47 22 42 136 252 51 180 412 222 47 37 49 67 105 129 184 41 90 15 640 561 166 1,105 2, 224 ■ 3,033 777 2,033 3,686 2,333 904 0294 266 574 1,536 1,325 4,051 2,170 503 4474 500 864 1,320* 624" S27 1,588 3,044 2,963 2,431 1,212 7144 667 669 590 1,391 2,040 754 871 831 5464 4864 1,196 3,786 1,0514 2,523 9634 2.968 946 1,136 1,402 966 2,392 726 823 2,267 47 22 (a) (a) (a) 51 180 (a) 232 47 37 48 67 103 (0) 164 37 15 15 173 95 13 42 (a) (a) (a) 50 148 49 4 60 11 50 120 38 36 (a) 94 (a) 120 297 (a) 128 22 (a) 31 (a) (a) 22 178 (a) 26 1 148 1 2 :i 4 5 7 Serial 8 9 10 11 12 Terminating 13 14 15 16 17 18 19 20 21 170 90 13 05 99 286 78 46 131 37 4 57 11 43 112 34 34 8 56 8 126 335 34 113 21 242 26 21 128 20 145 21 21 140 22 23 24 25 Terminating .Terminating Terminating 26 27 28 29 30 31 m 33 34 Terminating Terminating Terminating Permanent 35 36 37 3S 38 Terminating 40 41 4i 4r 44 4,' 4i 4' 41 4! 5! 5 5i Permanent Serial 5; 5- Serial 5. 254 REPORT OF THE COMMISSIONER OP LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. JPKrYFre'E'Ki'VANIA— Concluded. Mar- gin- al num- ber. Locality. Xante of association. Dateoif organization. YORK COUNTY. Delta Hanover Hanover... New Freedom York York - York York York York York York York York York York York York _ York York York York Delta Building and Loan .... - - Hanover Building and Loan, No. 6 Hanover Building and Loan, No. 7 .' - Equitable Building and Loan— Anchor Building and Loan , City Bairldin" and Loan Eastern-Building and Loan.- - Excelsior Buildingiand Loan — • --- Home jBuilding and Loan - . Keystone Building and Loan Meo-handcs and W^orkingmen's Building and Loan. National Building -and Loan. Park iBaiilding aiud Loan. - . .- • People's Buildittgand Loan : Progressive Building and Loan — Protective Building and lioan Spring Garden Building and Loan Standard Building and Loan Star Building and Loan 1 "Union Building and Loan - "West End Building and Loan York Mutual Building and Loan Dec. Mar. Feb. Sept. Dec. July July Oct. Jan. Mar. July Nov, May Feb. Mar. Dec. Feb. Mar. Mar. Oct. Nov. 20, 1883 10, 1889 18, 1891 8,1887 17, 1881 5,1887 20, 1875 5,1881 (a) 28, 1889 25,1679 1-8, 1881 IB, 1882 31,1876 10, 1887 0,1881 4,1*75 5, 1889 5,1880 5,1889 27,1882" 12,1872 BHOBE ISLAR'B. NEWPORT COUNTY. Newport PROVIDENCE COUNTY. Manton Providence Providence Woonsocket WASHINGTON COUNTY Westerly Newport Cooperative Savings and Building Manton Building and Improvement Homestead Savings Fund and Loan Roger "Williams Savings Fund and Loan Woonsocket Building and Loan "Westerly Savings Fund and Loan Apr. 12,1888 Aug. 1,1890 July 17,1891 Nov. 16, 1880 Sept. 26, 1889 Aug. 2,1388 SOUTH CABOL1IVA, 33 ABBEVILLE COUNTY. Greenwood Greenwood AIKEN COUNTY. Aiken ANDERSON COUNTY. Anderson C. H BARNWELL COUNTY. Bamberg CHARLESTON COUNTY. 'Charleston 'Charleston Charleston Charleston Charleston Greenwood Building and Loan People's Building and Loan Ailcen Building and Loan Anderson Savings, Loan, and Investment Company Bamberg Building and Loan Acme Building and Loan BankiDg System Building and Loan Economy Building and Loan Fidelity Building and Loan Germania Building and Loan a Not reported. Mar. Aug. 7, 1886 ' 1, 1892 Mar. 18, 1884 Mar. 4, 1893 Nov. 14, 1889 Mar. July Feb. May Jan. 2, 1891 30, 1890 4,1889 30, 1890 11, 1887 CHAPTER I. GENERAL TABLES. 255 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. I»EN"IVS-Yl.VAIVIA^Conelu 13 14 Permanent Permanent 15 16 17 18 19 Permanent 20 21 Serial 22 RHODE ISLAND. Local . Local. Local . Local . Local . Local Serial Serial . Serial . Serial . Serial . Serial . 213 02 275 70 (a) 151 1,021 186 (a) 50 340 29 62 201 1,361 215 2 12 442 27 93 16 109 34 1,731 205 1,670 11, 875 1,275 2 12 331 20 SOUTH CAKOLINA. Local Local Local Local Local Local Local Local Local Local Terminating . Terminating . Terminating . Serial . Terminating . Terminating . Terminating . Terminating . Terminating . Terminating . 07 49 120 138 4 47 1 38 21 11 60 7 39 16 104 12 79 13 62 25 145 12 150 (a) 382 201 945 1,102 030 3,565 729 (a) (a) W <«> (a) (a) (a) 3: (a) 256 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd, SOUTH CAROLINA— Continued. Mar- ■£- mini ber. Locality. CHARLESTON CO.— COUC'd Charleston Charleston Charleston Charleston CHESTER COUNTY. Chester Chester CHESTERFIELD COUNTY. Chesterfield C. H DARLINGTON COUNTY. Darlington C. H FLORENCE COUNTY. Florence Florence GEORGETOWN COUNTY. Georgetown Georgetown GREENVILLE COUNTY. Greenville KERSHAW COUNTY. Camden LAURENS COUNTY. Clinton Clinton Laurens Laurens MARION COUNTY. Marion MARLBORO COUNTY. Bennettsville NEWBERRY COUNTY. Newberry ORANGEBURG COUNTY. Orangeburg C. H Orangeburg C. H RICHLAND COUNTY. Columbia Columbia Columbia Columbia Columbia SPARTANBURG COUNTY. Spartanburg Spartanburg Spartanburg 2s an ie of association. Date of ■ organization. Hibemia Building and Loan Homestead Building and Loan Household Building and Loan Workingman's Building and Loan. Chester Building, Loan, and Savings Institution. Spratt Building and Loan Chesterfield Building and Loan - Darlington Building and Loan . Florence Loan and Investment Company- Mechanics* Building and Loan Georgetown Building and Loan. People's Building and Loan Piedmont Savings and Investment Company. Enterprise Building and Loan Clinton Building and Loan . . . Home Building and Loan Laurens Building and Loan . . Perpetual Building and Loan. Marion Building and Loan Bennettsville Building and Loan . Newberry Building and Loan. Orangeburg Building and Loan... Young Men's Building and Loan . Columbia Building and Investment . . . Columbia Savings and Five Per Cent . . Mutual Beneficial Building and Loan . Richland Building and Loan "Worlcingmen's Building and Loan Home Building and Loan Mechanics 1 Building and Loan. People's Building and Loan . . . May 1,1890 Dec. 6, 1886 Oct. 5,3891 Sept. 7,1888 Jan. 7,1889 Feb. 16,1892 Mar. 1, 1889 May 25,1888 Apr. 20, 1891 July 19,1887 July 28,188G Oct. 28,1891 Mar. 31,1891 Aug. 6, 1883 Jan. 4, 1888 Sept. 1,1891 Feb. 2, 188G Feb. 1, 1889 Aug. 3,1888 July 1, 1888 Oct. 5, 1885 Sept. 20, 1885 July 16,1891 Jan. 16,1889 (a) Feb. 5, 1884 Jan. 12,1888 June 5,1883 Dec. — , 1892 1 Jan. 1,1879 1 Nov. 21,1889 a Not reported. CHAPTER I. — GENERAL, TABLES. 257 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. SOUTH VA ROLiniA -Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al onm- her. Male. Female. Total. Local. Terminating Terminating Terminating 74 47 109 121 16 16 19 20 90 63 128 141 33 . 02 23 70 856 630 1,624 1,490 (a) (a) 23 (a) 1 2 3 4 Terminating 90 121 15 27 105 148 30 12 400 551 (a) (a) 5 6 25 9 34 14 105 (a) 7 G6 19 85 eo 600 (a) 8 Local 79 40 6 10 85 50 12 34 700 480 (a) («) ft 10 Local Local Terminating 69 66 6 11 75 77 01 20 500 600 (a) (a) 11 12 105 55 100 05 912 («> 13 181 25 200 55 777 (a) 14 Local Local Local Local Terminating 42 37 36 78 19 13 19 20 61 50 55 98 17 11 40 30 249 181 403 420 (a) (a) (a) («) 15 16 17 18 Local Terminating 59 11 70 37 427 (a) 19 Terminating 54 6 60 42 537 (a) 20 67 20 87 25 523 (a) 21 Local Local Terminating Terminating 57 80 15 7 72 87 45 21 470 500 (a) (a) 22 23 Local Local Local 54 34 109 103 71 8 16 26 19 21 62 50 135 122 92 25 18 68 50 58 553 285 1,322 870 837 (a) (a) (a) (a) (a) 24 25 26 Terminating 27 28 Local 109 105 224 21 36 6 130 141 230 21 38 144 927 1,272 2,103 (a) (a) (O) 29 30 31 H. Ex. 209 17 258 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. SOUTH CAROLINA- Concluded. gin- al num- ber. Locality. Name of association. Date of organization. SUMTER COUNTY. Bishopvillo . Sumter Sumter UNION COUNTY. Union YORK COUNTY. Black sburg . Rock Hill.. - Rock Hill... Biahopvillo Building and Loan- People's Building and Loan Sumter Building and Loan Union Building and Loan . Mechanics' Building and Loan Mutual Home Building and Loan Rock Hill Real Estate and Loan Company. Aug. 17,1891 Feb. 1, 1889 June ID, 1885 Mar. —.1875 Jan. 2, 1890 Apr. 11, 1892 Mar. 15, 1889 SOUTH DAKOTA. 15 BEADLE COUNTY. H uron BROWN COUNTY. Aberdeen . Aberdeen. Aberdeen . CODINGTON COUNTY. "Watertown . ~SV aterto"wn . DAVISON COUNTY. Mitchell LAKE COUNTY. Madison - LINCOLN COUNTY. Canton MINNEHAHA COUNTY. Sioux Palls. Sioux Falls. PENNINGTON COUNTY. Rapid City TURNER COUNTY. Centorville . Hurley UNION COUNTY. Elk Point YANKTON COUNTY. Tank ton . Yankton . Huron Building and Loan Aberdeen Building and Loan Dakota Buildingand Loan Northwestern Savings, Loan, and Building. Citizens' Loan and Building "Watertown Building and Loan . Mitchell Building and Loan Madison Building and Loan . - Canton Building and Loan Cooperative Savings and Loan. Sioux Tails Mutual Aid Rapid City Building and Loan .. Centervillo Building and Loan . Hurley Building and Loan Elk Point Building and Loan "Western Home Building and Loan Yankton Building and Loan May 1,1885 Feb. Oct. Feb. —,1886 18,1888 — , 1889 Mar. Oct. — , 1885 8, 1883 Dec. — , 1886 Apr. —,1888 Apr. 1, 1887 July Feb. —,1891 —,1884, May 12,1890 June 27, 1892 July — , 1889 Feb. 1, 1890 Oct. Feb. 24, 1889 1, 1886 a Not reported. CHAPTER I. GENERAL TABLES. 259 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. SOUTH CAROLINA— Concluded. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Real estate loans. Mar- gin- al mun- her. Male. Pemale. Total. Local Local Local Terminating Terminating Terminating Serial 33 163 116 84 14 57 67 5 12 12 14 1 3 3 44 175 128 98 15 GO 70 20 35 52 45 8 7 10 296 1,000 1,000 413 100 295 762 (a) (a) («> (a) (a) (a) (a) 1 2 3 4 Terminating 5 6 Permanent 7 SOUTH DAKOTA. National Local Serial Serial Serial Local Serial Serial Local Serial Local Serial Serial National.... Local Serial Serial Local Serial Local Local Serial Serial Serial National Permanent . Local Serial 88 27 115 70 29 2,190 41 6 449 4 35 2,639 45 20 445 19 08 65 5 15 73 80 49 66 74 35 109 64 116 24 140 42 95 9 104 32 4,300 146 150 38 4,450 184 215 90 59 23 82 (a) 32 51 2 4 34 55 3 24 34 13 47 21 34 150 7 108 41 268 14 88 .90 25, 087 292 465 481 5301 23, 735 1,596 377 247 270 302 2,910 (a) (a) W (a) (a) , (a) (a) (a) (a) (a) («) (a) (a) (a) (a) 260 REPORT OP THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. TENKESSEE. ■Mar- gin- al num- ber. Locality. BRADLEY COUNTY. Cleveland CARROLL COUNTY. Huntingdon CHESTER COUNTY. Henderson COFFEE COUNTY. Tullahoma DAVIDSON COUNTT. Nashville. Nashville. Nashville. Nashville. Nashville. Nashville. Nashville. Nashville. Nashville. Nashville. Nashville. Nashville. Nashville. DICKSON COUNTY. Dickson DYER COUNTY. Dyersburg FRANKLIN COUNTY. Winchester GIBSON COUNTY. Humboldt . Trenton . - . Name of association. Cleveland Building, Loan, and Improvement- Huntingdon Building, Loan, and Savings Henderson Building and Loan Tullahoma Building and Savings Equitable Building and Loan Farmers' Savings, Building, and Loan . Guarantee Fund, Building, and Loan. . House Building and Loan . Nashville and Edgefield Building and Savings Nashville Building and Savings North Nashville Building and Savings People's Building and Savings Provident Savings and Loan Society - Security Home Building and Loan South Nashville Building and Mechanics' Savings . State Building and Savings "West End Building and Savings Home Building, Loan, r.nd Savings. Dyersburg Building and Savings- "W^inclicster Building . Humboldt Building and Loan . Trenton Building and Loan . . . Pulaski Building and Loan . Mutual Building and Loan . Mountain Homo Building and Loan . GILES COUNTY. Pulaski GREENE COUNTY. Greenevillo GRUNDY COUNTY. Tracy City HAMBLEN COUNTY. Morristown HAMILTON COUNTY. Chattanooga American Mutual Building and Savings Chattanooga Atlas Savings and Loan ... Chattanooga Central Building and Loan Chattanooga Chattanooga National Building and Loan Chattanooga Chattanooga Savings and Building Chattanooga Cumberland Building-Loan Chattanooga Hamilton Perpetual Building and Loan Chattanooga Lookout Homestead Chattanooga Merchants and Mechanics ' Buildin^ .. Chattanooga I Tennessee Mutual Building and Loan a No' Morristown Building. Date of organization. Mar. 12,1888 Mar. 1, 1888 5, 1888 Apr. Mar. 3,1888 Oct. 1, 1891 July 1, 1891 Fob. 21,1891 Oct. -1,1891 Feb. 10,1881 Oct. 1, 1892 Aug. 1,1887 June 11, IS85 md Loan J u ] y 20,1887 ....I rob. 1,1891 Sept. Feb. Apr. Nov. Jan. Feb. July Mar. Oct. July Sept. July July 10. 1889 10. 1890 21. 1891 4. 1889 21, 1886 1. 1891 1, 1885 12, 1889 1. 1892 4, 1891 8, 1883 1. 1890 2, 1881 Dec. 13,1887 Mar. 22, 1882 Mar. 1, 1891 Feb. Aug. 3,1887 7, 1884 May 1, 1887 Aug. 1,1890 June 1,1891 Jan. 1, 1890 CHAPTER I. GENERAL TABLES. 261 Table I.— NAME, LOCALITY, AND DESCRIPTION OP ASSOCIATIONS— Cont'd. TENNESSEE. Local or national. Local . Local . Local . Local . Local.... National National . . . Local. Local Local Local Local .". Local Local Local National... Local Local . Local . Local . Local . Local . National... National National National National Local National.... Local Local Local Local Permanent, termi- nating, or serial. Serial . Serial . Serial . Serial . Permanent . Serial Serial Serial Serial Serial Serial Serial Permanent. Permanent . Serial Serial Serial Shareholders. le. Fe.-nale. Total Scrlnl . Serial . Serial . Serial . Serial . Serial . Serial Permanent . Serial Serial Serial Serial Serial Serial Permanent. Serial CI 261 2,872 289 167 142 72 245 155 48 533 137 702 294 121 97 1,269 74 250 197 332 351 168 550 245 175 224 96 105 3)0 22 83 27 22 160 55 8 174 52 92 171 07 3,191 311 250 169 94 405 210 50 707 189 794 465 CO 137 131 1,349 50 32 291 53 250 78 410 32 383 54 222 65 015 36 281 06 241 41 265 21 117 Borrow- ers. 28 108 707 30 31 77 35 155 83 12 321 75 172 217 24 199 105 108 80 34 124 96 121 44 Shares in force. 4 49 J 3,824 22, 341 2,494 350 1,254 929i 3,719 1,808 84G 0,903 1,103 4,504 4,510 422i S44 851 1,550 3,908 2,354 2,463 5,749 1,910 1,885 2,348 1,433 Heal estate loans. (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 205 115 (a) (a) (a) (a) (a) <«> (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) 123 (a) (a) 115 128 (a) 262 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. TE IV IVESSE E— Continued. locality. Name of association. Bate of organisation. HATWOOD COUNTY. Brownsville KNOX COUNTY. Knoxville Knoxville Knoxville Knoxville Knoxville Knoxv ille Knoxville KnoxviUo Knoxville Knoxville Knoxville LINCOLN COUNTY. Fayettevill© MADISON COUNTY. Jackson Jaekson MARION COUNTY. South. Pittsburg South Pittsburg , MAURY COUNTY. Columbia MONTGOMERY COUNTY. Clarksville Clarksville — Clarksville Clarksville OBION COUNTY. Union. City .- -. "Union City Union City ROANE COUNTY. Harriman SHELBY COUNTY. Memphis Memphis Memphis , Memphis Memphis Memphis , Memphis Memphis Memphis SULLIVAN COUNTY. Bristol SUMNER- COUNTY, Gallatin TIPTON COUNTY. Covington ............. Brownsville Building and Loan Citizens' Building and Loan Covenant Building and Loan Homestead Investment Company Interstate Building and Loan Knoxville Building and Loan Knoxville Savings, Building, and Loan. Mechanics' Building and Loan People's Building and Loan Southern Building and Loan Star Savings and Loan Company "Workingman's Building and Savings . . Lincoln County .Building and Loan Home Building and Loan Jackson Building and Savings Marion Building Society South Pittsburg Building and Loan Maury County Building and Loan Citizens' Building and Loan Clarksville Building and Loan Equitable Building and Loan Tennessee National Building and Loan . Home Building and Loan Union City Building and Loan Union City National Building and Loan Harriman Building and Loan American Building, Loan, and Tontine Anglo- Teutonia Building and Loan Bluff City Building and Loan De Soto Building and Loan Equitable Buildingand Loan German- American Building and Loan.. Memphis Building and Savings People's Building and Loan "Workingmen's Building and Loan Holston National Building and Loan Gallatin Building and Loan Tipton County Building and Loan «Not reuorted. Aug. 1,1889 Jan. Jan. Sept. July Mar. Apr. Mar. Feb. Jan. Dec. Oct. 1,1891 1. 1890 7. 1891 13, 1891 7, 1376 23, 1889 23, 1886 — , 1891 9,1889 24, 1891 28, 1886 May 13,1890 May 15,1890 May 7,1880 May 4,1885 Apr. 24,1891 Oct. 11,1881 Apr. 24, 3878 Peb. 8, 1887 Mar. 1, 1889 May 30,1891 Sept. 9,1890 Mar. 4, 1884 Mar. 15,1892 Kay 20,1890 Juno 1,1889 Aug. 10, 1887 Jan. 17,1876 May 2, 1876 10, 1887 1, 1876 6, 1873 1,1892 1, 1873 Jan. May Jan. Jan. Mar. Nov. 17, 1890 Apr. 4, 1887 Mar. 8, 1887 CHAPTER I. — GENERAL TABLES. 263 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. TENNESSEE— Continued. Local or national. Permanent, termi- nating, or serial. Shareholders. -Female. Total Borrow- ers. Shares in force. Real estate loans. National. . . National... Local Local Local Local Local Local National... National... Local Local . Local . Local . Local . Local . Loc:.l . Local Local.... Local National Local . Local . Local . Local . National. Local Local .... Local Local Local Local Local Local National. . . Local. Serial Serial Serial Serial Serial Serial Serial Serial Permanent . Serial Serial Serial Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Serial . Permanent . Serial Serial Serial Serial Serial Serial Serial Serial Serial . Serial . 1,186 3,200 404 173 176 005 253 (a) ] 0,566 290 191 89 (a) (a) (a) (a) (.a) W (a) (a) (a) (a) («) (a) (a) (a) (a) (a) (a) (a) (a) (a) 246 («> (a) (a) 264 REPORT OP THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. TENNESSEE —Concluded. Mar- gin- al xvnm- bcr. Locality. Kamo of association. Date of organization. 1 WARREN COUNTY. June 8, 1P85 Jan. 2, 1892 July 1, 1889 Juno 2D, 1889 WASHINGTON COUNTY. 3 WEAKLEY COUNTY. 4 WILSON COUNTY. TEXAS. 12 ANDERSON COUNTY. Palestine BELL COUNTY. Bel ton CHILDRESS COUNTY. Childress COOKE COUNTY. Gainesville DALLAS COUNTY. Dallas . DallaB . Dallas . DENTON COUNTY. Denton ELLIS COUNTY. Ennis "Waxahachio . FANNIN COUNTY. Bonham Honey Grove . GALVESTCN COUNTY. Galveston . Galveston . GRAYSON COUNTY. Denison . Denison . Denison . HARRIS COUNTY. Houston . Houston . Houston . Mechanics' Building and Lor. Young Men's Building and Loan . Childress Building and Loan . Hesperian Building and Savings. Dallas Homestead and Loan Mutual Building Sanger Brothers Employes' Loan and Saving Denton Building End Investment Company Ennis Building and Loan Ellis County Building and Havings. Bonhani Improvement and Loan . Honey Grove Building and Lean . Galveston Building and Loan Company. Texas Loan and Investment Company . . Citizens' Building and Loan Gate City Building and Loan North Texas Savings and Building. Bayou City Building and Loan . Mechanics' Building and Loan. Mutual Building and Loan Feb. 10,1690 Aug. 20, 1883 July 1, 1891 Kov, 12,1890 Dec. G, 1880 Oct. 1, 1887 Mar. 29, 1886 June 2G, 1889 July 1, 1888 Aug. 3,1888 Mar. 23, 1S90 Mar. 21, 1885 Apr. 1,1890 Kov. 1,1890 Feh. 2,1888 Kov. 5,1884 Avr. 12,1888 Apr. 1,1890 May 8, 1888 Apr. 15,1887 a Kot reported. CHAPTER I. — GENERAL TABLES. 26 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. TENNESSEE— Concluded. Local cr national. Permanent, termi- nating, or serial. Shareholders. Borrow- OTS. Shares in force. Keal estate loans. Mar- gin- al ber. Male. Female. Total. Local National Local Local Serial Serial 116 162 50 44 23 23 3 IC9 188 59 CO 49 04 32 22 5=2 2,387 394J 494 (a) (a) (a) 31 1 2 3 4 Local . Local . Local . Local . Local . Local . Local . Local . Local . Local - Local . Local National.. Local . Local . Local . Local . Local . Local . Serial Torminatmir . Serial Serial Serial Serial Serial Terminating . Terminating . Serial Terminating . Serial Serial Serial Terminating . Terminating . ' Serial Serial Serial Permanent 152 100 104 :.2l J 70 128 121 220 SI 198 305 194 218 120 363 510 149 137 251 87 225 331 101 121 07 78 110 21 36 102 2334 1,038 1,177 1,310 343 163 267 452 503 2,197 8,650 902 000 957 082 750 2,461 (o) (a) (n> (.") W (a) (a) (a) (a) (a) (a) (a) (a) (a) (a) (1) (a) (a) (a) (a) 266 REPORT OF THE COMMISSIONER OP LABOR. Taiili! I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. T£ X AS— Concluded . Locality. Same of association. Date -of organization. HOPKINS COUNTY. Sulphur Springs HUNT COUNTY. Commerce Greenville LAMAR COUNTY. Paris Paris PARKER COUNTY. Weatherfbrd Weatherfbrd REEVES COUNTY. Pecos ROBERTSON COUNTY. Hearne SMITH COUNTY. Tyler TARRAXT COUNTY. Fort Wortll Fort "Worth FortWorth Fort Worth Fort Worth Fort Wortll FortWorth FortWorth FortWorth TOM GREEN COUNTY. San Angelo. WILLIAMSON COUNTY. Taylor Sulphur Springs Loan and Building., Commerce Building and Loan Greenville Building and Loan ^National Building and Loan Paris Building and Loan Mutual Building and Loan Weatherford Savings and Loan Pecos City Building and Loan Hearne Building and Loan East Texas Loan and Saviugs Builders' Loan and Savings FortWorth Building Germania Building ami Loan Mutual Savings and Loan Company Printers' Building and Loan Eailroad Men's Savings and Loan Company South Side Building and Loan Workingman's Building - Young Men's Building and Loan "West Texas Building _ Taylor Savings and Loan _. Aug. 13, 1 May 1, 1S90 Dec. 14,1886 Oct. 1, 1891 Apr. 12,1884 Apr. 1,1891 Apr. 1, 1888 Dec. 20,1890 Feb. 21, 1891 Apr. 1, 1830 Oct. 30,1890 July 10, 1887 Sept. 1,1889 Sept. 1,1888 Sept. 25, 1889 Nov. 10, 1891 Sept. 6,1890 Jan. 10,1890 Juno 1,1888 May 28,1889 Juno 1,1891 SALT LAKE COUNTY. Salt Lake-City Salt Lake City Salt Lake City Salt Lake City Salt Lake City WEBER COUNTY. Ogden Pioneer Loan and Homestead Salt Lake Building and Loan Utah Loan and Building Western Loan and Savings Company Zion's Benefit Building Society Ogden Building and Savings a Not reported. Apr. 14 1890 Mar. — 1890 June 1887 Apr. 16 1892 June 12 1883 Mar. 27 1883 CHAPTER I. GENERAL TABLES. 267 Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. TEXAS-Concluded. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares i:i force. Real cstato loans. Mar- gin- al num- ber. Male. Female. Total. Local .- Serial 98 10 114 44 1,169 fa) 1 24 GO 6 11 30 71 18 33 196 440 fa) fa) 2 3 National < 775 99 223 11 998 110 131 65 10, 304 966 (a) (a) 4 5 Local Local Terminating Terminating 47 61 2 9 49 73 13 23 275 438 fa) 6 7 Local Terminating 34 3 37 16 341 (a) 8 Local 45 C 51 7 384 (a) 9 Local 25' 7 93 350 145 3,214 (a) 10 Local Local...--.. Local..-—.. Local Terminating 87 96 175 83 45 79 87 90 98 12 12 25 15 7 G 12 99 108 200 98 52 85 93 102 105 42 75 50 73 6 10 11 61 70 1,143 1, 499 1,850 720 676 415 447 1,119 1,255 fa) fa) fa) fa) fa) (a) W (a) (a) 272 REPORT OF THE COMMISSIONER OP LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. VIKf. INI A— Concluded. Mar- gin- al num- ber. Locality. Karao of association. Date of organization. 1 WARWICK COUNTY. Jan. 2, 1892 Sept. 1, 1887 Mar. 1, 1887 3 V/YTHE COUNTY. WASHINGTON. Grays Harbor Building and Loan Vancouver Building and Loan . King County Building and Loan Mutual Loan and Building Seattle Building and Loan Washington National Building, Loan.andlnvestment. Sprague Building and Loan Wilbur Savings and Loan Spokane Homo Building and Loan Olympia Building and Loan Interstate Building, Loan, and Trust Walla WallaBuilding and Loan Bellingham Bay Savings and Building New Whatcom Building and Loan Colfax Building and Loan Whitman Building and Loan Pullman Building and Loan WEST VIRGINIA. Berkeley County Building and Loan Central Building and Loan Enterprise Building Improvement Loan and Building Valley Exchange Building Barbouraville Building and Loau Guyandotto Building Huntington National Building and Loan a Not reported. CHEHALIS COUNTY. Aberdeen CLAEKE COUNTY. Vancouver KING COUNTY. Seattle Seattle Seattle Seattle LINCOLN COUNTY. Sprague Wilbur SPOKANE COUNTY. Spokane THUBSTON COUNTY. Olympia WALLA WALLA COUNTY. Walla Walla Walla Walla WHATCOM COUNTY. Fairhaven New Whatcom WHITMAN COUNTY. Colfax Colfax Pullman BERKELEY COUNTY. Martins!)!! rg Martinsbarg Martinsburg Martinsburg Martinsburg CABELL COUNTY. Barbouraville Guyandotto Huntington Mar. 10, 1891 Nov. 17, 18S8 Aug. 27, 1891 June 18, 1887 Apr. 23, 18S0 Sept. 21, 1889 Mar. 24, 1890 Apr. 27, 1892 May 13, 1891 Apr. 24, 1891 Feb. 21, 1890 May 29, 1888 Sept, 1, 1890 June 20, 1892 Oct. 0, 1890 Mar. 22, 1886 Mar. — , 1888 June 28, 1888 Oct. 27, 1885 Mar. 0, 1888 Mar, 23, 1890 Sept. 18, 1891 July 20, 1889 June 18, 1888 Apr. 30, 1892 CHAPTER I. — GENERAL TABLES. 273 TABLK I NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. VIROIIVIA-Concluded. Local or national. Permanent, termi- nating, or serial. Shareholders. Borrow- ers. Shares in force. Keal estate loans. Mar- gin- al num- ber- Male. Female. Total. Local Local Local Permanent 71 56 eo 16 9 25 87 65 85 17 29 1,213 565 500 (a) (a) (aj 1 2 Permanent 3 WASIIINGTOIV. Local . Local Local Local National.. Local . Local . National- Local . National Local Local . Local . Local . Local . Local . Terminating . Serial . Serial . Serial . Serial - Serial . Terminating . Serial Permanent . Serial . Serial . Serial . Permanent - Serial Serial . Serial . Serial . 86 13 131 1,141 ■219 (a) 12 46 303 («) (a) 24 16 81 177 1,444 13 291 12 62 326 285 07 611 1,881 19, 076 387 237 3,051 119 03 582 632J 42 482 (a) (a) (a) (a) (a) («) 37 (a) (a) (i) CO (a) (a) (a) (a) (a) (a) WEST VIRGINIA. Local . Local . Local . Local . Local . Local Local . .,. — National. . . Terminating . Terminating . Terminating - Serial Permanent. . . Serial . Serial . Serial . 186 60 75 312 69 79 154 801 212 69 91 353 85 102 178 837 23 75 126 1,053 587 757 3,300 728 234 738 4,186 (a) (a) 63 (a) 10 (a) 125 (a) 274 REPORT OF THE COMMISSIONER OF LABOR. Table I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont'd. W.EST VIRGINIA- Continued. Locality. Name of association. Date of organization. CABELL COUNT!'— COno'd. Huntington . Huntington . Huntington , Huntington . HAMPSHIRE COUNTY. Romney HARBISON COUNTY. Clarksburg . Clarksburg. Salem. JACKSON COUNTY. Kavenswood JEFFERSON COUNTY. Charlestown Charlestown Charlestown Charlestown Charlestown Charlestown Harper's Ferry Harper's Ferry Shenandoah. Junction . KANAWHA COUNTY. Cedar Grove . Charleston... Charleston... Charleston... Charleston... LEWIS COUNTY. "Weston. Weston . MARION COUNTY. Fairmont MARSHALL COUNTY. Benwood Moundsville. Mounasville . MASON COUNTY. Poin t Pleasant MINERAL COUNTY. Piedmont MONONGALIA COUNTY. Morgantown Morgantown OHIO COUNTY. "Wheeling , Wheeling , "Wheeling . Wheeling . Wheeling - Wheeling . Huntington Savings and Loan Society . Mechanics' Building and Loan Mountain State Building and Loan Ohio Valley Building and Loan Hampshire Building and Loan, No. 1- Econoiny Building. Eureka Loan and Building . Salem Building and Loan. . . Jackson County Building and Loan. Jefferson Building, No. 9 Jefferson Building, No. 10 Jefferson Building, No. 11 Jefferson County Building, No. 7 Jefferson County Building, No. 8 Jefferson Permanent Building Harper's Ferry and BolivarBuilding, No. 1 . Harper's Ferry and BolivarBuilding, No. 2 . Shenandoah Junction Building, No,l. . East Bank Building and Loan Kanawha "Valley Building Mutual Building and Loan, No. 1. . . Mutual Building and Loan, No. 2. . . Valley Mutual Building and Loan. Weston Building Weston Home Building Homo Building. Benwood Building and Loan. Homo Building and Loan Mound City Building Mason County Building and Loan. Piedmont Building and Loan. Mutual Building and Loan People's Building and Loan, No. 3. Citizens' Building, No. 2 Eagle Building La Allema Building, Loan, and Savings . Star Building.-. Union Building Wheeling Building a Not reported. Jan. 4, 1890 May 23,1891 Sept. 1,1892 June 5, 1883 Mar. 7, 1890 Dec. 3,1887 May 2, 1891 Mar. 16, 1889 Nov. 19,1887 Apr. 2, 1888 Feb. 3, 1890 May 18,1891 Apr. 5, 1886 Sept. Apr. Nov. May Apr. 6. 1886 6, 1891 1. 1887 4, 1891 8, 1890 Oct. 12,1889 Sept. 3,1889 Sept. 22, 1866 May 9, 1892 May 7, 1892 May May 1, 1886 7, 1892 Dec. 3, 1892 Mar. 31,1890 Sept. 5,1890 Mar. 12,1888 Feb. 2, 1888 Apr. 1,1 Feb. 19,1389 Aug. 12, 1892 Apr. 16, 1887 Mar. 31,1888 Sept. 4,1889 May 23,1890 Apr. 12,1889 Oct. 23,1891 CHAPTER I. GENERAL TABLES. 275 Tablk I.— NAME, LOCALITY, AND DESCRIPTION OF ASSOCIATIONS— Cont ; d. WEST VIRGINIA— Continued. Local or national. Permanent, termi- nating, or serial. Sliareh older s. Male. Eemale. Total. Borrow- ers. Shares in force. Real estate loans. 1,245 W 627 (o) 900 (a) 5,554 (a) 250 W 558 (a) 1,268 (a) 211 (a) 994 W 853 (a) 911 (a) 295 (a) 090 (a) 852 (a) 763 (a) 737 (a) 597 (a) 221 (a) 75 (a) (a) 1,203 (a) 970 40 439 (a) 456 (a) 188 (a) 356 <<*) 932 (a) 867 (a) 699 (a) 1,333 7 9,884 133 5,325 5,663 164 148, 403 23, 188 6,159 3, 236- 18, 509 2,738 617.8 5.3 253.6 195.3 41.0 240.9 57.3 91.9 47. G 143.5 105.3 8 9 District of Columbia. 10 11 12 in 14 15 ir> 17 18 19 3,458 2,953 207 38, 179 3,905 1,982 1,107 2,246 18.5 25.7 2.9 495.8 130.2 5.7 158.1 34.6 20 21 22 23 24 25 20 27 ?R New Hampshire 2D 15, 068 63. 3 ?.o New Mexico 31 8,558 4,484 1,137 10, 712 22.6 195.0 227.4 24.9 32 33 34 North Carolina North Dakota Ohio 35 30 37 38 Pennsylvania Rhode Island South Carolina South Dakota 24, 706 29.7 39 40 41 1,812 1,964 9,625 2,067 38.6 140.3 165.9 55.9 42 43 Utah 44 2,751 758 5,041 3,261 36.7 .51.1 95.1 83.6 45 40 47 Washington West Virginia 48 Total NATIONAL. 5,598 4,404 15, 598, 752 3, 542. 5,120 466, 882 91.2 | 49 4 8 4 3 2 12 38 16 8 1 17 2 3 3 15 2 17 1 4 1 2 28 3 4 3 2 8 36 8 7 1 17 2 3 10 2 15 1 4 1 1 28 06, 537 152, 621 158, 577 107, 405 5,834 200, 604 919, 815 91, 077 115, 536 1,890 222, 459 129, 928 73,518 179, 756 977, 494 14, 383 153, 618 20, 200 8,249 70, 285 58, 974 22,195.7 25,436.8 39, 644. 3 35,801.7 2,917.0 25, 075. 5 25, 550. 4 11, 384. 6 16, 505. 1 1,890.0 13,085.8 04, 964. 24, 500. 59,918.7 97, 749. 4 7,191.5 10,241.2 20,200.0 2, 002. 3 70, 285. 58, 974. 17 m 8 16, 946 2,118.3 8 5,536 692.0 8 22, 482 2, 810. 3 38 70 -35, 954 513.6 70 15,613 223.0 70 51, 567 736.7 39 , 1 1,157 1, 157. 1 327 327.0 1 1,484 1,484.0 40 17 48, 813 2,871.4 17 6,593 387.8 17 55, 406 3, 259. 2 41 284 408, 525 1,438.5 284 157, 806 555.7 288 577, 163 2, 004. 42 5 4,151 830.2 5 1,618 323.6 5 5,769 1, 153. 8 43 413 1, 029, 101 2, 491. 8 415 240, 868 580. 4 414 1, 294, 746 3, 127. 4 44 25 22, 743 909.7 25 15, 892 635.7 25 38, 635 1, 545. 4 45 5 10, 180 2, 036. 5 3,116 023.2 6 13, 923 2, 320. 5 46 720 741,384 1,029.7 720 294, 175 408.6 721 1,036,184 1,437.1 47 1 715 715.0 1 186 186.0 1 901 901.0 48 17 17, 345 1,020.3 17 8,221 483.6 17 25, 566 1, 503. 9 49 1,066 1, 146, 168 1, 075. 2 1,066 439, 018 411.8 1,079 1, 603, 787 1,486.4 50 C 12, 423 2, 070. 5 4,908 818.0 6 17, 331 2, 888. 5 51 48 21, 985 458.0 48 12, 912 269.0 48 34, 897 727.0 52 17 45, «0 2, 675. 3 17 13, 617 801.0 17 59, 097 3, 476. 3 53 78 265, 138 3, 399. 2 78 96, 870 1, 241. 9 78 362, 008 4, 641. 1 54 40 34, 654 866.4 40 17, 863 446.6 41 53, 200 1, 297. 6 55 6 33, 647 5, 607. 8 6 9,407 1, 567. 8 6 43, 054 7, 175. 7 56 83 136, 156 1,640.4 80 66, 735 834.8 83 202. 941 2,445.1 57 17 23, 586 1, 387. 4 17 5,144 302.6 17 28, 730 1, 690. 58 54 35, 278 653. 3 54 19, 717 365.1 56 08, 587 1, 224. 8 59 40 01, 490 1,537.3 40 25, 053 626.3 4L 88, 288 2, 153. 4 60 5 3,512 702.4 5 2,405 481. 7,480 1,246.7 61 5,770 9, 406, 347 1,030.2 5,767 3, 649, 479 032.8 5,816 13, 255, 872 2, 279. 2 288 REPORT OP THE COMMISSIONER OP LABOR. Table V SHARES HELD OUTSIDE OF STATE. States p.nd territories. LOCAL. Alabama Arizona Arkansas ' California Colorado Connecticut Delaware District of Columbia. Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana i Nebraska Nevada New Hampshire New Jersey Now Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Teimesseo Texas Utah - Yirginia Washington "West Yirginia "Wisconsin Wyoming Total . NATIONAL. Alabama . .. California Colorado District of Columbia . Florida Georgia Illinois Indiana Iowa Kansas Kentucky Louisiana Maryland Michigan Minnesota. Mississippi Missouri Montana Nebraska - New Hampshire New Jersey New York Total associa< tioiis. 23 4 32 125 42 15 21 20 21 31 4, 031 429 81 71 131 20 29 237 115 72 82 30 349 7 00 1 16 280 5 390 24 5 718 1 14 1,070 C 48 14 61 39 5 76 14 54 39 Associa- tions re- porting as to. 32 125 30 15 21 20 21 30 4 015 428 74 09 129 26 27 230 no 64 80 30 346 6 05 12 279 5 so a 24 5 714 1 14 1,069 48 14 01 38 4 74 14 54 36 4 5,476 Shares held outside of stale. Number cf shares. 3,006 440 518 194 188 100 30 4,289 319 478 180 213 38 203 53 461 1,240 10, 690 719J 1,086 166 3,350 355 800 497 25 460 1,085 58 2,341 149 25 4, 178J Aver- age. 166.0 13.8 4.1 5.4 12.5 5.0 1.2 7.0 .7 0.5 2.0 1.7 1.5 7.5 .2 4.2 19.4 133.0 24.0 1.7 16.7 13.8 12.0 71.0 2.2 20.7 5.0 .7 4.1 38.4 3.9 116.1 1,190 130 65.0 12, 699 1, 587. 4 190 44, 905J 23, 267 210 854 24,819 20, 484 119, 056 52 9,122 95.0 6, 415. 1 1,011.6 30.0 213.5 1,551.2 20, 484. 14, 957. 52.0 1, 140. 3 4,760 42, 316 4, 760. 6, 045. 1 Value of shares. Total. $40, 521 1,251 4,437 9,750 3,924 7,890 3,643 172, 361 7,150 27, 208 13, 945 13, 301 3,256 3,351 6,218 23, 138 . 27,501 121, 120 31, 252 29, 647 80, 266 1,687 165, 509 15, 870 8,106 19, 010 905 44, 491 47, 080 2,048 53, 051 7,099 655 52, 784 1, 049, 461 1,000 140, 769 520 753, 286 200, 094 4,798 7,248 109, 049 211,313 2, 905, 269 919 130, 297 9,617 660, 645 Aver- age. $1,S42 39 35 271 2C2 376 140 280 17 368 202 103 125 124 20 210 430 514 042 86 1,235 141 593 3,174 23 794 181 62 Shareholders holding. 238 37 74 24 17 4 30 7 104 74 205 56 129 24 505 34 02 40 3 79 44 [ 146 870 187 7 226 14 187 192 j 2, 616 500 17,596 6 777 260 107, 612 8,700 685 1,812 6,816 211, 313 12 5,462 45 127 1,000 3,012 363, 159 919 16, 287 9,617 94, 378 12, 491 1 3,855 368 4 067 CHAPTER I. — GENERAL TABLES. 289 Table V.— SHARES HELD OUTSIDE OF STATE— Concluded. Total associa. tions. Shares held outside of state. States and lc:ritories. Associa- tions re- porting as to. Numljer of shares. Yaluc of shares. Shareholders holding. Total. Aver- age. Total. Aver- age. Total. Aver- age. national— concluded . 1 1 3 3 3 3 17 2 1 7 3 2 3 1 1,540 1, 540. $15, 961 $15, 961 240 North Dakota Ohio 2 2 3 67 355 2,500 33.5 177.5 833.3 4,890 2,333 20, 000 2,445 1,167 6,667 10 23 312 17 159, 362* 9, 374. 3 1, 698, 153 99, 891 18, 277 1,075.1 4 3 2 2 4,627 3,906 1, 156. 8 1,302.0 84, 800 55, 371 21,200 18, 457 422 387 105.5 129.0 7,650 3,825 13 6 5 Total 240 137 475, 990 3, 474. 4 7, 023, 982 51, 270 55, 405 404.4 ALL ASSOCIATIONS. 27 _ 4 32 133 46 15 21 29 23 43 4 669 445 89 72 148 28 29 • 240 115 75 97 32 366 8 70 1 17 288 5 418 25 6 721 24 3 32 133 36 15 21 27 23 37 4 638 435 78 70 145 27 27 236 110 64 88 31 354 6 67 3,790 158.2 41,521 1,730 129 6.4 440 13.217 194 188 100 30 190 44, 905J 13.8 99.4 5.4 32.5 5.0 1.1 8.3 1,213.7 1, 251 145, 200 9,750 3, 921 7,890 3,643 520 753, 280 39 1,092 271 262 370 135 23 20, 359 3 794 17 ' 24 12 3 12 5,462 .1 CO .5 Connecticut 1.6 s District of Columbia .1 5 147.6 27, 550 . 529 1,332 180 25, 032 20, 522 203 53 461 1,240 130, 346 77H 9, 705" 43.2 1.2 17.1 •2.0 172.6 760.1 7. 5 .2 4.2 19.4 1,481.2 24.9 27.4 372, 455 -11,948 34, 450 13, 945 122, 350 214, 569 3,351 0,218 23,138 27, 501 3, 020, 389 32, 171 159,944 584 27 442 199 844 7,947 124 26 210 430 34, 391 1,038 452 4,127 82 201 24 1,617 3,010 30 7 104 74 12, 690 60 '3,919 0.5 .2 2.6 .3 11.2 Louisiana 111.7 1.1 .8 .9 1 2 Minnesota 144.3 1.9 11.1 1,080 16.2 80, 200 1, 19t< 129 1.9 12 280 5 367 25 5 716 1 16 1,072 6 48 14 78 40 4 78 17 56 38 4 160 8,110 355 43,110 2,037 25 533 13.8 29.0 71.0 317. 5 81.5 5.0 .7 1,087 175, 126 15, 870 008, 751 35. 007 905 49, 381 141 625 3,174 1,822 3,400 181 69 24 873 34 4,129 280 3 89 2.0 New Jersey 3.1 0.8 11.3 11.4 .6 Ohio .1 1 Oregon I 17 Pennsylvania \ 1, 079 Bhode Island' i; 355 3,585 22.2 3.3 2,333 07, 080 340 63 23 482 1.4 .4 48 17 78 1 South Dakota 58 10I,703i 149 4.1 2, 073. 1 3.7 2,048 1,751,204 7,099 140 22, 451 177 7 18, 593 14 .5 237.2 41 6 83 17 50 42 6 .4 Utah 4,052 3,900 59.6 229.8 80, 455 55, 371 1,080 3,257 425 387 5.4 22.8 4, 352J 114.5 60, 434 3,590 200 5.3 5,838 5,013 515,180 91.8 8, 073, 443 1,438 58, 021 10.3 H. Ex. 209- -19 290 REPORT OF THE COKEMISSIONER OP LABOR. Table yi— NUMBER AND SEX OF SHAREHOLDERS. [A very small proportion of shareholders rouorted as firms, societies, etc., have been classod in this tabfe with the males.] States and terri- tories. LOCAL. Alabama ArizoDa Arkansas California Colorado Connecticut . . Delaware Diat. of Columbia Florida Georgia- — Idaho Illinois Indiana Iow-a Kansas Kentucky Louisiana Maino Maryland Massachusetts. .". Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire. New Jersey New Mexico New York North Carolina - . North 1 akota ... Ohio Oklahoma Oregon Pennsylvania. . - A . Rhode' Island.-.*. South Carolina . . South Dakota . . . 'Tennessee Texas Utah Virginia Washington "West Virginia. .. Wisconsin AVyoming Total NATIONAL. Alabama California Colorado Dist. of Columbia Florida Georgia Illinois Indiana Iowa Kansas' Kentucky Louisiana Maryland Michigan Minnesota Mississippi . . . Missouri Montana Nebraska Total, associ, ations 23 4 32 125 42 15 21 26 21 31 4 631 429 SI 71 131 28 29 237 115 72 82 30 349 7 C6 1 16 280 5 390 24 5 718 1 14 ,070 48 14 CI 39 5 76 14 54 5,598 Shareholders at end cf last fiscal yoar. Malos . Associ- ations report- ing. 23 4 S2 99 40 11 17 20 16 25 4 442 366 04 09 120 23 24 127 07 53 00 24 345 6 01 1 230 24 5 588 1 14 525 5 48 14 60 39 5 71 12 54 Number. 2, .953 282 4,600 12,995 5,861 1,897 1,862 12, 797 1,541 2,795 271 87,096 59, 666 11,915 5,932 23, 662 4,665 3, 2!£ 21, 258 21', 529 11,048 8,054 2,800 40, 040 705 5,974 - 150 1,566 42, 554 566 45, 791 3,797 447 126, 070 103 1,580 84,786 1,664 3,690 1,048 9,423 4, 2f.2 1,087 8,484 643 7,666 7,778 380 710, 150 3,422 5,750 2,454 2,680 360 6,692, 15,888 12, 717 6,470 790 18,339 2,437 4,875 8,244 15, 048 70 29, 056 750 1,277 128.4 70.5 143.8 131.3 146.5 172.5 109.5 492.2 96.3 111.8 67.8 198.4 163.0 186.2 S6.0 187.8 202.8 134.1 167.4 :;21.3 208.5 134. 2 116.7 117.8 117,5 93.3 150.0 195.8 230.0 113.2 199.1 158. 2 89.4 214,4 103.0 113. 5 161.5 332.8 76.9 74.9 157.1 109.0 217.4 119.5 53.0 142.0 204.7 63.3 173.4 855.5 718.8 818.0 893.3 180.0 956.0 882.7 847.8 1,617.5 790.0 1, 078 8 2, 437. 4, 875. 4, 122. 1, 672. 76.0 1, 937. 1 750.0 319.3 Females. Associ- ations report- ing. 40 11 17 26 16 25 4 440 366 64 69 120 23 24 127 07 53 00 21 345 185 5 230 24 5 591 1 14 525 5 48 14 60 39 5 71 12 54 38 6 15 Number. 929 109 1, 416 3,810 2,758 413 6S9 4, 228- 077 093 74 32, 066 20, 707 5,134 1.-333 8,^97 1,856 1,431 7,386 9,929 3,386 2, 008 1,043 9,155 171. 1,701 61 492 15,110 141 19, 402 814 124 02, 190 39 504 30,725 497 094 313 3,014 679 326 2,246 138 1,724 2,064 92 Aver- age. 40.4- 27.3 44.3 38.5 09.0 37.5 40.5 162.6 42.3 27.7 18.5 72.0 56.0 80.2 19.3 70.0 80.7 59.6 58.2 148.2 63.9 33. S 43. 5 : 26.K 28.5 26. G 61.0 01.5 81.7 28.2 84.4 33.9 24.8 105.4 39.0 36.0 58.5 99.4 14.5 22.4 50.2 17.4 65.2 31.0 11.5 31.9 54.3 15.3 263, 38S 64.3 1,627 1,294 997 1,894 115 1,027 5,902 3,218 1,331 100 3,761 900 1,625 1,536 2,792 51 3,518 240 400.8 161.8 332.3 631.3 57.5 146.7 327.9 214.5 332.8 100.0 221.2 900.0 1, 025. 768.0 310.2 51.0 234.5 240.0 Total. Associ- ations report-- ing. 23 4 32 J 25 40 15 20 20 21 31 4 628 420 79 09 130 20 29 236 115 71 82 29 348 7 04 1 16 2ri5 5 389 24 5 710 1 14 1,063 6 48 14 00 39 5 76 14 54 39 6 5,560 Number. 3,882 391 0,016 24,488 8,619 3,222 2,969 17, 025 3,398 4,818 345 174, 380 93, 132 22, 125 7,265 33, 815 7,166 7, 306 52, 410 53,953 19, 837 12, 751 5, 299 50, 083 891 7,075 211 4,193 85, 098 707 110, 390 4,611 571 233,- 348 142 2,093 233, 655 2,223 4,384 1,361 12, 437 4,931 1, 413 13,154 802 9, 390 9,864 472 1, 359, 366 5,049 7,044 6,651 4,574 475 26, 476 54i 063 39, 109 15, 132 890 22, 100 8,030 10,988 19,488 34,877 261 33, 073 990 CHAPTER I. GENERAL TABLES. 291 Tabli? VI.— NUMBER AND SEX OF SHAREHOLDERS— Concluded. States and terri- tories. Total associ- ations. Shareholders at ond of last fiscal year. Males. Associ- ations report- ing. Aver- age. "Females. Associ- ations report- Number. Aver- age. Total. Associ- ations report- ing. Number. Total. national — con- cluded. New Hampshire. New Jersey New York North Carolina . . North Dakota . . . OMo Oregon Pennsylvania South Dakota Tennessee TXtali Virginia Washington West Virginia. - Wisconsin Total . AXLASSOCIATIONS. Alabama Arizona Arkansas California ....... Colorado .... Connecticut Delaware Diat.of Columbia Florida Georgia Idaho Illinois- Indiana Iowa ., Kansas- Kentucky Louisiana Maine Maryland Massachu setts - Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada „ New Hampshire New Jersey New Mexico New York North Carolina.. North Dakota ... Ohio Oklahoma Oregon Pennsylvania . . . Khode Island... South Carolina.. Sooth Dakota. . . Tennessee Texas Utah Virginia Washington West Virginia. - Wisconsin Wyoming 27 4 32 133 46 15 21 29 23 43 4 C69 415 89 72 148 28 29 249 115 75 97 32 360 8 70 1 17 288 5 418 25 721 1 17 1,079 48 17 303 21,771 805 02 2,574 391 303.0 , 360. 7 805.0 82.0 1, 287. 185.5 6,524 25, 391 1,245 2, 049 5,734 1, 372 902 3, 010 2, 174. 7 1, 493. 622.5 2, 049. 1, 433. 5 457.3 401.0 1, 003. 3 209, 458 1, 203. 8 32 107 43 11 17 29 18 32 4 460 381 68 70 143 24 24 128 67 55 69 25 360 7 63 1 240 25 000 1 16 525 5 48 17 77 41 75 15 56 41 6 6,373 282 4,000 18, 745 8,315 1,897 1, 862 15, 477 1,901 9,487 271 103, 584 72, 383 18, 385 6,722 42, 001 7,102 3, 218 26, 133 21, 529 19, 292 23, 102 2,876 G9, 096 1,450 7,251 150 1,566 42, 857 566 67, 562 4,602 509 128, 650 103 1,980 84, 786 1,664 3,090 7,572 34, 814 5,497 3, 136 14, 218 2,015 8, 568 10, 788 Total . 0,838 80 ,320 250 3 511 47 80.0 207.0 250.0 3.0 250.5 23.5 236.1 70.5 143.8 175.2 193.4 172.5 109.5 533.7 105.6 296.5 67.8 225.2 190.0 270. 4 96.0 293.7 295.9 134.1 204.2 321.3 300.8 334.8 110.0 193.6 207.9 106.6 100.0 195.8 230.4 113.2 274.6 181.1 84.8 218.1 103.0 123.8 161.5 332.8 78. 9 445.4 452.1 134. 1 022.7 189.6 134.3 153.0 263. 1 63.3 174 27 4 32 107 43 11 17 29 38 32 4 458 381 63 70 143 24 24 128 67 05 09 25 360 7 68 1 8 180 5 246 25 592 1 16 525 48 17 77 41 6 75 15 56 41 6 606 5,599 263 210 353 370 50 736 202.0 329.4 131.5 210.0 88.3 125.3 25.0 245.3 44, 440 255. 4 2,556 109 1,416 5,104 3,755 413 089 6,122 792 1-, 720 74 37, 968 23,925 6,465 1.433 12, 658 2,756 1,431 9,011 9,929 4,922 4,800 1,094 12, 673 411 1,808 61 492 15,190 141 22, 722 1,064 12.7 02, 701 39 551 30, 725 497 094 919 8,613 942 536 2,093 514 1,774 2,800 92 215. 4 307,828 91.7 27.3 44.3 47.7 87.3 37.5 40.0 211.1 44.0 53.8 18.5 82.9 02.8 95.1 20. 5 88.5 114.8 59.0 70.4 148. 2 89.5 69.6 43.8 35.2 58.7 26.6 61.0 61.5 81.7 28.2 92.4 42.0 21.2 105.9 39.0 34.4 58.5 99.4 14.5 54.1 111.9 23.0 89.3 34.7 34.3 31.7 08.3 15.3 236 4 32 133 44 15 20 23 23 43 4 666 442 87 70 147 28 29 239 115 74 95 31 36-4 1 17 287 5 417 25 719 1 17 1,060 6 48 17 77 41 6 82 17 56 42 4,000 1,343 41, 197 1,055 05 4,867 904 0,330- 7,130 30, 990 1,508 2,259 7,900 1,748 952 3,746 386, 359 8,931 391 0,016 31, 532 15,270 3,222 2,969 21,599 3,868 31, 294 345 228, 443 112,301 37,257 8,155 55,915 15,196 7,366 63,398 53, 953 39, 320 47,628 5,560 83,758 1,881 9,060 211 8,193 87, 041 707 151,587 5,666 636 238, 215 142 2,997 238, 985 2,223 4,384 8,491 43, 427 0,439 3,672 21, 104 2, 550 10, 342 13, 616 472 5,790 1,745,755 292 REPORT OF THE COMMISSIONER OF LABOR. TAiiM VIS.— ASSOCIATIONS CLASSIFIED AS TO SHAREHOLDERS. Number of associations Laving — Asso- cia- tions not re- port- ing. States and territories. Under 100 share- hold- ers. u 2 13 50 9 3 7 4 8 14 2 161 175 20 50 36 4 7 71 7 12 28- 13 121 2 33 100 or under 200 share- hold- ers. 4 2 12 38 17 3 8 8 10 2 178 124 22 9 34 10 9 70 24 23 41 7 158 4 21 200 1 300 or | or under under 300 1 400 share- share- hold- hold- ers, era. 2 I 2 400 or under 500 share- hold- ers. 500 or under 700 share- hold- ers. 70D or under 900 share- hold- ers. 900 or under 1,100 share- hold- ers. 1,100 or under 1,300 share- hold- ers. 1,300 or under 1,500 share- hold- ers. 1,500 or under 1,700 share- hold- ers. 1,700 share- hold- ers or over. Total asso- cia- tions. LOCAL. 1 ! 23 i 4 1 23 4 G 4 1 2 5 3 4 3 1 1 2 1 1 3 3 1 32 3 1 si 2 125 1 42 15 1 2 1 21 Diet, of Col. U 1 63 26 Florida 21 2 i 31 \ i 4 llliuois Indiana Iowa 103 41 13 3 21 4 C 45 15 12 6 5 44 1 5 1 1 02 2 71 3 1 136 70 29 3 3 10 3 1 21 14 7 3 1 17 37 12 2 2 11 1 1 17 9 1 1 2 34 20 2 5 I 11 14 4 1 3 15 7 3 11 7 1 8 5 1 3 1 4 4 1 ci dl el 3 3 2 2 1 631 429 81 71 8 2 • 4 10 2 1 2. 2 1 1 1 /I 131 i 26 | 29 Maryland . . . Massacli'tts. Michigan . . . 2 8 1 1 1 1 2 3 Xi 1 1 237 115 72 1 82 Mississippi . 1 2 7 4 1 1 1 2 G6 1 1 W. Hamps're Kew Jersey . 2 31 3 113 9 4 133 8 94 84 7 215 1 4 379 1 14 5 17 12 4 29 19 7 1 1 33 1 19 2 25 1 12 1 4 2 1| ,2 1 286 5 New York.. 40 3 24 24 2 14 7 3 5 2[ l» 1 390 "N. Dakota . . 5 Ohio 83 42 50 is 20 5 1 3 3|* U 2 718 Oregon Pennsylv'ia 7 239 1 32 8 20 19 1 203 3 2 1 12 5 1 108 .60 1 50 1 ..' 14 5 4 1 13 1 1 i I 4 3 2 3 1 1 1 ! Utah. 1 2 1 | 29 12 20 11 5 9 3 2 1 1 ' . .1 76 ! 1 "W.Virginia. 8 8 5 1 9 1 2 1 1 1 51 1 1 "Wyoming .. ... .1 1 1 i 1 i Total . . . 1,570 1,747 904 492 272 278 126 73 32 | 19 17 j 29 39 5,598 NATIONAL. Alabama . . . 1 2 j 1 1 | (2 m 1 ii 2 ol 4 8 4 3 2 12 38 16 California . . 1 1 2 1 1 1 Dist.ofCol.. 1 Florida 1 1 3 2 1 1 1 1 Georgia Illinois Indiana 2 3 1 4 1 4 1 1 1 1 p 5 oil r4 5 3 1 1 1 1 2 a2,434. 6 2,150, 2,500, 5,000. c 1,800, 2,500, 3,000, 4,000. d 1,875. c 2,448. / 1,951. g 3,824. ft 2,334. i 1,893, 1,923. ./ 1,839, 2,096. k 1,740, 2,175, 2,368, 2,410, 2,440, 2,469, 2,500 2,573, 2,586, 2,945, 3,805, 8,662. ! 1,950, 2,527. m 3,508. n 2,550, 3,200. 3,260. p 1,824, 4,010, 4,800, 5,000, 7,950. J 1,800, 2,000, 2,160, 2,178, 2,300, 2,il05, 3,897, 4,700,4,875,6,116,6,494. r 1,741, 1,892, 2,145,3,234. CHAPTER I. GENERAL TABLES. 293 Table VII.— ASSOCIATIONS CLASSIFIED AS TO SHAREHOLDERS— Cont'd. Xumher of associations Laving — Asso- cia- tions not re- port- ing. States and territories. Unilci 100 share- hold- ers. 100 or under 200 share- hold- ers. 200 or under 300 share- hold- ers. 300 or under 400 share- hold- ers. 400 cr under 500 share- hold- ers. 500 j 700 or | or under. under 700 900 share- share- hold- hold- ers, crs. 900 or under 1,100 share- hold- ers. 1,100 1 1,300 or or under.nnder 1,300 j 1,500 share- share- hold- hold- ers, ers. 1,500 or under 1,700 share- hold- ers. 1,700 share- hold- ers or orer. Xotal asso- cia- tions. NATIONAL— concluded. 2 3 1 a% i 1 2 Kentucky .. 2 1| 1 ! 4 1 1 65 c2 d2 e3 /8 2 17 2 1 1 3 I 1 3 1 •1 1 1 1 1 1 1 15 Mississippi . 1 2 1 i 9 1 1 2 1 07 1 17 1 1 1 1 1 4 N. Hamps're 1 l hi 1 1 5 " ' |~~" 1 1 I 2 N qw York.. a 1 1 1 3 1 2 iO 28 1 N.Dakota.. l i 1 1 1 j2 3 Oregon i . .. 1 1 1 3 1 1 fcl 12 mi 3 i 1 1 3 2 2 | 3 1 1 2 1 17 1 1 2 Utah 1 ... «l ol 1 1 1 i i i 1 i i 1 1 7 Washington l 1 1 1 3 1 2 1 l ' ' kl .... I Total 17 | 18 10 21 16 | 25 17 | 14 | 8 | 9 7 74 4 240 ALL ASSOCI- ATIONS. 15 2 13 52 9 3 7 4 8 16 2 161 175 26 50 4 2 12 39 17 3 8 9 11 2 181 126 22 9 2 2 1 1 l 1 ' 1 V 2 27 4 1 23 "i 4. 1 3 6 3 4 7 3 6 1 1 3 1 1 3 4 1 1 32 California .. 5 1 1 1-2 2 133 46 1 15 1 2 1 1 21 Dist. of Col. 1 1 1 ,4 29 23 Georgia 1 3 1 (5 43 Illinois Indiana Iowa Kansas 101 42 13 3 75 29 5 3 40 12 2 2 38 22 9 2 19 8 3 1 12 , 9 8 ' 7 1! 2 4 2 5 6 1 Ml5 V 5 to3 3 3 2 2 669 445 89 27 a 5,200, 6,232. m 1,887, 3,191, 3,1-32, 14,088. 6 1,970,2,213, 3,250, 4,0;>7, 4,641. n 2,259. c 3,337, 4,093. o 3,800. rf 3,407, 6,500. p 1,950, 2,527 e 3,913, 5,867, 9,708. q 2,434, 3,568. /1.801, 1,933, 1,988, 2,487, 4,362, 4,590, 4,623, r 2,550, 3,200. 8,754. * 2,150, 2,500, 3,260, 5,000. g 1,858, 1,934, 2,077, 2,928, 3,000, 3.549. 11,992. 1 1,824, 4,010, 4,800, 5,000, 7,950. h 4,000. u 1,800, 1,800, 2,000, 2,160, 2,178, 2,300, 2,500 i 1,992, 3,874, 4,343, 5,099, 6,335, 6.540. 2,905, 3,000,3,897, 4,000, 4,700, 4,875, 6,116 j 1.782, 2,482. 6,494. k 3,000. v 1,741, 1,875, 1,892, 2,145, 3,234. 1 2,639, 4,450. u- 2,448, 5,200, 6, 232. 294 REPORT OP THE COMMISSIONER OF LABOR. Table VII.— ASSOCIATIONS CLASSIFIED AS TO SHAREHOLDERS— Cone'd. Number of associations having — Asso- cia- tions not re- port- ing. States and territories. Under 100 share hold- ers. 100 or under 200 share- hold- ers. 200 en under 300 share- hold- ers- 300 or under 400 share- hold- ers. 400 cr under 500 share- hold- ers. 500 or under 700 share- hold- ers. 700 or under 9C0 share- hold- ers. 900 or under 1,100 share- hold- ers. 1,100 or undei 1,300 share- hold- ers. 1,300 or under 1,500 share- hold- ers. 1,500 or under 1,700 share- hold- ers. 1,700 share- hold- ers or ovor. Total asso- cia- tions. ALL ASSO- CIATIONS — concluded. Kentucky . . 38 4 7 71 7 12 28 13 121 2 34 35 10 9 70 24 23 42 9 159 4 21 25 4 6 45 15 12 6 5 45 1 5 1 1 62 2 72 3 1 136 10 3 1 21 14 7 3 I 17 15 1 1 9 17 9 1 1 4 6 1 3 11 14 4 2 4 10 2 2 4 30 2 i 2 3 1 1 1 ad 62 1 148 Louisiana .. Maine 29 Maryland . . Massach'tts Michigan... 3 8 1 1 1 1 2 1 3 c3 dl e 3 /8 1 1 2 1 3 240 115 Minnesota . . Mississippi 2 1 97 32 Missouri .. . 1 i at Montana .. . 8 Nebraska... 5 2 1 2 1 N. Hamps're 2 31 3 115 9 5 133 8 94 85 7 215 1 4 379 1 14 5 19 12 4 30 2 20 7 1 1 34 1 19 2 25 1 12 111 1 New Jersey. New Mexico 5 2 l 288 New York.. N. Carolina. 45 3 25 29 2 17 8 1 4 7 2 J8 1 418 25 N. Dakota.. Ohio 80 42 51 18 20 5 3 2 £14 2 721 1 Oregon 8 239 1 32 9 20 19 1 203 3 2 1 14 5 2 108 1 60 1 50 Pennsylv'ia. EhodeXsland 14 G 5 1 1 11 13 1,079 S. Carolina. . S. Dakota... mi ni 1 17 78 Tennessee . . Texas 7 3 3 4 1 2 1 2 1 1 2 1 TTtah ol pi 1 6 83 17 Virginia "Washington 29 13 20 11 5 9 1 8 8 3 3 2 1 1 1 1 VV . V irginia 5 2 10 1 2 1 1 1 Wisconsin.. 11 Wyoming... Total 1,587 1,705 914 513 288 303 143 87 40 28 24 103 43 s,s::s 01,951,1,970, 2,213, 3,250,4,007, 4,041. 6 3,337, 4,693. cl,824, 3,407, 6,500. d 2,334. c 3,913, 5,867, 9,708. /1.801, 1,933, 1,988, 2,487, 4,302, 4,590, 4,623, 8,754. g 1,858, 1,934, 2,077, 2,928, 3,000, 3,549, 11,992. A 4, 000. i 1,803, 1,923. j 1,839, 1,992, 2,096, 3,874, 4.343, 5,099, G.335, 0,5.(0. * 1,740, 1,782, 2,175, 2,368, 2,410, 2,440, 2,469, 2,482, 2,500, 2,573, -2,586, 2,945, 3.S05, 8,662. 1 3,000. m2,639, 4,450. ml,887, 3,191, 3,832, 14,088. 2,259. p 3,800. CHAPTER I. GENERAL TABLES. 295 Tabus VIII.— ASSOCIATIONS CLASSIFIED AS TO BORROWERS. dumber of associations Laving — Asso- cia- tions not re- port- ing. States and territories. Uo , bor- ' row- ers. Til- ler 50 bOT- row- ers. )0 or un- ci or 100 bor- row- ers. 100 or un- der 150 bor- row- ers. 150 or un- der 200 bor- row- ers. 200 or un- der 300 bor- row- ers. 300 or un- der 400 bor- row- ers. 400 or un- der 500 bor- row- ers. 500 or un- der 600 bor- row- ers. 600 or un- der 700 bor- row- ers. 700 or un- der 800 bor- row- ers. 800 bor- row- ers or over Total asso- cia- tions. LOCAL. 10 2 17 70 13 12 7 13 11 17 4 264 237 35- 52 55 13 19 116 50 20 50 14 222 2 30 1 11 122 3 260 10 4 380 1 10 570 4 36 8 27 23 1 35 13 22 10 5 2 2 22 15 3 10 2 S 9 4 1 23 4 2 13 2 3 3 6 1 1 1 1 | 3° 1 2 3 125 1 42 1 15 1 3 1 2 2 2 1 L... 1 21 2 1 1 2 I ol 26 21 1 \ 1 31 \ 4 1 1 161 96 21 9 33 8 4 07 29 20 19 7 VI 4 23 70 32 8 5 15 1 2 23 14 11 8 6 26 1 4 48 24 3 1 11 1 2 5 8 8 1 4 37 20 5 2 9 3 2 15 8 4 4 3 16 8 4 9 5 1 9 1 2 I 2 1 2 62 el 4 3 3 1 1 031 429 81 1 71 4 2 til .131 * ?« 29 1 5 4 1 1 2 1 3 237 115 1 1 1 1 I 72 82 1 1 i 30 l 349 i 7 . 1 1 2 66 l I 3 80 2 72 174 2 30 i IS 14 14 2 3 2 1 1 28ft ! S 1 25 5 1 07 14 1 7 2 3 ..... 1 390 [ 24 , 5 Ohio - 1 28 30 14 8 | 3 3 i 2 c2 6 718 1 2 304 I 10 5 .15 12 3 20 1 20 7 1 111 25 1 31 14 2 8 G a I- 15 1,076 1 6 1 1 1 2 48 ' 1 14 7 4 6 1 2 1 1 61 1 3J "Utah 1 .... I.... 5 7 1 2 l 1 1 70 ! 14 5 G 4 3 2 3 ..... | 1 1 54 i 39 1 1 1 6 1 i Total 8 2,953 — 1 3 1 1,427 1 545 223 220 80 40 22 a 7 | 7 57 5, 508 NATIONAL. 2 1 1 1 1 1 1 L /!■' 4 1 1 i 8 1 4 1 I Jl 3 2 5 10 1 2 2 9 3 3 1 3 1 2 1 1 5 1 1 i 4 1 ft 2 i 1 12 1 2. 38 3 6 16 1 i 1 8 1 1 3 1 1 1 1 2 17 It 1 2 1 1 3 1 2 1 1 I 1 ml 2 3 2 2 2 2 1 1 1 1 1 15 2 1 4 2 1 1 4 n 2 1 17 1 2 2 1 1 4 a 960. 6 1,012, 1,125. c802. <»11. C864. 1,435. /972. ,7 837. A 1,015, 1,135. i Hon. j 1,000. k 959. I 1,646. m 1,385. n 918, 1,175. 29G REPORT OF THE COMMISSIONER OF LABOR. Tai.i.f. VIII.— ASSOCIATIONS CLASSIFIED AS TO BORROWERS— ConcM. XuTiibcr of assoc iations baring— Asso cia- tions Dot re- port- ing. St;;tc:> and territories. Xo "bor- row- ers. Un- der 50 "bor- row- ers. 50 or «n- der 1C0 bor- row- ers. 100 or un- der 150 bor- row- ers. 150 or un- der 200 lior- row- ers. 200 or un- der 300 ■bor- row- ers. 300 or un- der 400 bor- row- ers. 400 or un- der 500 bor- row- ers. 500 or un- der 600 bor- row- ers. 6C0 or Tin- der 700 bor- row- ers. 700 or nn- der 800 bor- row- ers. 800 bor- row- ers or over. Total asso- cia- tions. national — concluded. 1 1 15 i 1 2 1 G 1 1 1 1 1 i 28 1 1 1 i . .. 1 1 1 2 !.... i 3 1 1 1 5 1 1 I i i | 3 1 i .... I 1... i 1 '. 3 1 1 1 2 i 3 1 2 2 4 l|ol 17 2 Utah ] 1 1 1 2 1 1 1 1 2 M 1 I i 1 3 i 2 1 1 ' 3 < i i 1 Total 1 76 39 23 20 13 19 2 -2L _°_ 8 5 | 12 4 240 ALL ASSOCIATIONS. 17 2 17 82 14 12 7 13 13 22 4 280 238 37 52 01 13 19 117 5D 26 52 16 224 2 38 1 11 124 3 281 10 5 380 1 11 571 4 36 9 32 23 1 37 14 23 19 5 2 2 9 24 16 3 10 3 8 9 5 1 1 27 4 2 14 6 2 3 3 6 1 1 2 2 i i i 32 i 1 2 3 133 46 i 15 1 4 1 3 2 2 2 1 i 1 21 1 i 2 e 2 29 23 1 i 1 i 1 a 2 1 43 4 1 1 170 99 24 10 36 8 4 67 20 20 19 7 93 4 23 78 32 9 5 16 J 23 14 11 10 30 1 4 53 23 3 1 14 1 o 5 8 8 1 1 6 1 1 37 23 5 2 10 4 2 16 8 4 5 4 IS 14 4 10 7 1 9 1 6 2 | e 3 2 . 1 ,2 4 3 3 1 1 G69 445 89 1 72 5 2 2 1 ft 1 148 28 29 1 5 4 1 1 1 5 •1 2 1 2 1 1 2 3 210 115 1 1 1 i 1 1 \j 1 1 3 1 2 75 ' 97 32 I .. 1: 2 366 8 o 70 1 3 89 2 78 6 174 2 39 i 1 3 17 " 14 2 2 1 288 5 2 20 5 1 G8 14 2 7 2 * 2 1 1 1 |.--. 1 .418 25 1 : 1 1 G 1 28 32 14 8 » 3 2 | I 2 1 3 305 1 10 5 10 12 3 27 2 20 9 2 111 26 >1 17 2 8 6 1 3 1 1 1 13 ' G 1 i , 1.... 1 1 1 1 3 1 3 .... !... J. 9 10 j 1 1 1 ol 2 .... I I 8 1 2 1 2 | o 1 G G 4 3 2 3 1 1 1 1 6 ~ 3 - 17 12 Total 9 3,029 1,466 568 _43 233 B9 51 10 01 5,838 I al 976. c 837, 960. e 853, 1,012, 1,125. ff 911. i 1,610. k 948, 1,175. 6 972. d 1,015, 1,133. / 802, 1,000. CHAPTER I. GENERAL TABLES. 297 Taih.k BX — SHAREHOLDERS AND BORROWERS. States mid ti tories. LOCAL. Alabama Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts . . . Michigan il iunesota Mississippi Missouri Montana Nebraska Nevada New Hampshire . New Jersey Now Mexico New York North Carolina. . . North Dakota Ohio Oklahoma Oregon . . : Pennsylvania Kb ode Island South Carolina. . . South Dakola Tennessee Texas Utah Virginia "Washington "West Virginia ... "Wisconsin Wyoming Total asso- cia- tions. 23 4 32 125 42 15 21 20 21 31 i 031 423 81 71 131 20 29 237 115 72 Total 5, 598 5, 500 1, 359, 366 Shareholders. Asso- cia- tions re- port- ing. 23 4 32 125 40 15 20 20 21 31 4 028 120 79 09 130 20 29 230 115 71 82 30 29 349 348 7 7 06 04 1 1 16 16 286 285 5 5 393 389 24 24 5 5 718 716 1 1 .14 14 1,076 1, 003 6 48 48 14 14 61 60 39 39 5 5 70 76 14 14 54 54 39 39 6 Number. 3, 882 391 0,010 24,488 8, 619 3, 222 2,969 17,025 3,393 4,818 345 174, 380 93, 132 22, 125 7,265 33,815 7,166 7,360 52, 410 53, 953 19, 837 12,751 5,293 50, 083 891 7,675 211 4,193 85, 098 707 110, 390 4, 011 571 233, 348 142 2,093 233, 655 2, 223 4,384 1,361 12,437 4,931 1,413 13, 154 802 9,390 9,864 472 Aver- age. 108.8 97.8 188.0 195.9 215.5 214.8 148.5 054. 8 161.6 155.4 80.3 277.7 218.6 280. 1 105.3 260.1 275.6 254.0 222 1 469! 2 279.4 155.5 182.7 113.9 127.3 119.9 211.0 262.1 300.7 141. 4 283.8 192.1 114.2 325.9 142.0 119. 5 219.8 370.5 91.3 97.2 207.3 126.4 282.6 173.1 57.3 173. 9 252.9 78.7 Borrowers. Asso- cia- tions re- port- ing. i 32 123 39 15 20 20 21 30 4 G27 420 20 29 234 115 71 81 29 348 7 01 1 10 285 5 3S9 24 5 712 1 14 1,060 6 47 13 59 39 5 75 14 54 244.5 5,540 402,805 Number. 1,370 157 2,263 0,751 3,206 48D 1,360 4, 343 1,219 1,859 128 63, 122 33, 042 7,564 3,090 12,883 1,878 1,731 17, 512 10, 975 0,810 4,402 1,971 10, 594 435 3,117 31 083 22, 392 254 18, 230 1,989 242 57, 201 28 716 08, 897 587 1,623 588 5,197 1,£56 540 5,516 249 4,253 3,323 155 53.0 39.3 70.9 51.9 82.2 32.6 08. 167.0 59.5 62. 32.0 100.7 77.6 97.0 44.1 99.1 72.2 59.7 74.8 S5.4 90.3 51.3 68.0 47.7 03.1 48.7 31.0 36.8 78.6 50.8 40.9 82.9 48.4 80.3 28.0 51.1 65.0 97.8 34. 5 45.2 88.1 47.6 109.2 73.5 17.8 78.8 85.2 31.0 Shareholders and borrowers. Asso- Number, cia- j tions [ I Share Port- j holders. nig 23 4 32 123 39 13 20 20 21 :o 4 026 426 78 00 129 26 20 234 115 71 81 29 348 7 03 1 16 284 5 3S8 24 5 712 1 14 1,-055 6 47 13 59 39 5 75 14 54 39 5 3,882 391 0,016 24, 280 8,442 3,222 2,969 17, 025 3,893 4, 108 345 172, 835 93, 132 21, 829 7,265 33, 358 7,100 7.300 51, 571 53, 953 19,837 12, 269. 5,299 50, 083 891 7,565 211 4,193 83, 775 707 110, 205 4,611 571 231, 420 142 2,093 232, 043 2,223 4,234 1,279 12, 293 4,931 1,413 13, 069 802 9,390 9,804 384 Bor- rowers 5, 529 1, 348, 345 402, 21 1,370 157 2,209 6,751 3,200 489 1,300 4,343 1,219 1,859 128 63,117 33, 042 7,501 3,081 12, 831 1,878 1, 731 17,512 10, 975 6,840 i; 402 1,971 16,591 435 3,057 31 089 22,-330 254 18, 227 1,989 242 57, 201 28 710 68, 498 587 1,623 588 5,197 1,850 540 5,515 249 4,253 3,323 155 Per cent of bor- row- ers. 35.29 40.15 37.72 27.80 37.98 15. IS 45.81 25.51 36.81 45.25 37.10 30.52 35.48 34.65 42.45 38.46 26.21 23.50 33.96 20.34 34.48 35.88 37.23 33.13 48.82 40.41 14.09 14.05 26.05 35.93 10.54 43. 14 42.38 24. 72 19.72 34.21 29. 52 20. 41 33.33 45.97 42.28 87.04 33.04 42. 21 31.05 45.29 33. 69 40.36 .83 298 REPORT OF THE COMMISSIONER. OF LABOR. Table IX.— SHAREHOLDERS AND BORROWERS— Continued. States and terri- tories. NATIONAL. Alabama California Colorado Dist. of Columbia Florida Georgia Illinois Indiana Iowa .. Kansas _. Kentucky Louisiana Maryland Michigan Minnesota Mississippi Missouri Montana Nebraska Now Hampshire . New Jersey New York North Carolina!.. North Dakota Ohio Oregon Pennsylvania South Dakota Tennessee — Texas Utah Virginia "Washington "West Virginia Wisconsin Total Total asso- cia- tions. Shareholders. Asso- cia- tions re- port- ing. Number. Total. 5,049 7,0-14, fl, 651 4,574 475 26, 476 54, 063 19, 169 15, 132 890 22,100 8,030 10, 988 19, 488 34, 877 261 33, 673 990 1,385 4,000 1,343 41,197 1,055 65 4,867 904 5,330 7,130 30, 990 1,508 2,259 7,950 1,748 952 3,746 386, 359 Aver- age. 1, 202. 3 880.5 1, 662. 8 1, 524. 7 237.5 2, 206. 3 1, 422. 7 1, 198. 1 1, 891. 5 890.0 1,300.0 4, 015. 3, 662. 6, 498. 2, 682. 8 130.5 2, 104. 990.0 346.3 4, 000. 071.5 1, 471. 3 1, 055. 05.0 1, 622. 3 301.3 1, 776. 7 2, 376. 7 1, 822. 9 754.0 2, 259. 1,325.0 582.7 476.0 248.7 1, 637. 1 Borrowers. cia- tions re- port- ing. Number. Total. 1,483 1,299 932 1,008 79 4,273 6,046 4,100 2,176 52 2,709 1,255 961 2,673 5,217 09 4,807 175 170 409 43 3,488 179 6 677 208 280 674 5,038 252 230 948 412 142 630 53,199 225.4 Aver age. 370.8 162.4 233.0 i.O 1.5 356.1 159.1 261.9 272.0 52.0 159.4 627.5 320.3 891.0 401.3 34.5 300.4 175.0 42.5 409.0 21.5 124. 6 179.0 6.0 225.7 69.3 93.3 224.7 .4 126.0 230.0 158.0 137.3 71.0 213.0 Shareholders and borrowers. Asso- cia- tions re- ponfc ing. 236 Number. Share- holders. 5,049 7,044 6,651 4,574 475 20, 476 54, 063 19, 169 15, 132 890 22, 100 8,030 10, 983 19, 488 34, 877 261 33, 673 990 1,385 4,000 1,343 41, 197 1,055 63 4,867 904 5,330 7,130 30, 990 1,508 2,259 7,950 1,748 952 3,746 Bor- rowers 1,483 1,299 932 1,008 79 4,273 6,046 4,190 2,176 52 2,709 1,255 961 2,673 5,217 69 4,807 175 170 409 43 3,488 179 6 677 208 280 674 5,038 252 230 948 412 142 639 Per- cent of bor- row- ers. 29.37 18.44 14.01 22.04 16.63 16.14 11.18 21.86 14.38 5.84 12. 26 15.63 8.75 13.72 14.96 26.44 14.28 17. 68 • 12.27 10.23 3.20 8.47 16.97. 9.23 13. 9L 23.01 5.25 9.45 16.26 16.71 10.18 11.92 23.57 14.92 17.06 359 53, 199 13. 77 CHAPTER I. GENERAL TABLES. 299 Table IS.— SHAREHOLDERS AND BORROWERS— Concluded. States and terri- tories. Total asso- cia- tions. ALL ASSOCIATIONS. Alabama Arizona Arkansas California Colorado Connecticut . - . Delaware Dist. of Columbia Florida Georgia Idabo Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts . . Michigan Minnesota Mississippi Missouri ; Montana Nebraska Nevada New Hampshire- New Jersey New Mexico New York North Carolina . - North Dakota . . . Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina . - South Dakota . - . Tennessee Texas Utah Virginia "Washington West Virginia... Wisconsin Wyoming Total 5, 32 133 46 15 21 29 23 43 4 6G9 445 89 72 148 28 29 240 115 . 75 97 32 360 8 70 1 17 288 5 418 25 6 721 1 17 1,079 6 48 17 78 41 6 83 17 56 42 6 Shareholders. Asso- cia- tions re- port- ing. 27 4 32 133 44 15 20 29 23 43 4 666 442 87 70 147 28 29 239 115 74 95 31 364 1 17 287 5 417 25 6 719 1 17 1,066 G 48 17 77 41 Number. Total. Aver- age. 8,931 .391 0,016 31, 532 15, 270 3,222 2,969 21, 599 3,868 31, 294 345 228, 443 112,301 37, 257 8,155 55, 915 15, 196 7,366 03, 398 53, 953 39, 325 47, 628 5,560 83, 756 1,881 9,060 211 8,193 87, 041 707 151, 587 5,666 636 238, 215 142 2,997 238, 985 2,223 4,384 8,491 43,427 6,439 3,672 21, 104 2,550 10, 342 13, 610 472 5,796 1,745,725 330.8 97.8 188.0 237.1 347.0 214.8 148.5 744.8 168.2 727.8 86.3 343.0 254.1 428.2 116.5 580. 4 542.7 254.0 265.3 469.2 531.4 501.3 179.4 230.1 235.1 133.2 211.0 481.9 303.3 141.4 363.5 226.0 106.0 331.3 142.0 170.3 224.2 370.5 91.3 499.5 564.0 157.0 012. 257.4 150.0 184.7 324.0 78.7 Borrowers. Asso- cia- tions re- port- ing. 301.2 27 4 32 131 43 15 20 20 23 42 4 065 442 80 71 147 28 29 237 115 74 94 31 364 1 17 287 5 417 25 6 715 1 17 ,063 6 47 16 76 41 6 81 17 56 42 5 Total. Aver age. 2,853 157 2,269 8,050 4,138 489 1,360 5,351 1,328 6,132 128 09, 168 37, 232 9,740 3,142 15, 592 3,133 1,731 18, 473 10, 975 9,513 9,619 2,040 21,401 610 3,287 31 998 22, 435 254 21,724 2,108 248 57, 878 28 924 09, 177 587 1,623 1,262 10, 235 2,108 776 6,464 661 4,395 3,962 155 5,776 456,004 78.9 5,765 105.7 39.3 70.9 01.5 06.2 32.0 08.0 184.5 57.7 146.0 32.0 104.0 84.2 113. 3 44.3 106.1 111.9 59.7 77.9 95.4 128.6 102.3 65.8 58.8 76.3 48.3 31.0 58.7 78,"2 50.8 52.1 86.7 41.3 80.9 28.0 54.4 65.1 97.8 34.5 78.9 134.7 51.4 129.3 79.8 38.9 78.5 94.3 31.0 Shareholders and borrowers. Asso- cia- tions re- port- ing. 27 4 32 131 43 15 20 29 23 42 4 664 442 86 70 146 28 29 237 115 74 94 31 .364 8 67 1 17 280 5 416 25 6 715 1 17 ,058 6 47 16 76 41 6 81 17 56 42 5 Number. Share- holders. 8,931 391 0,016 31, 324 15, 093 3,222 2,969 21, 599 3,808 30, 584 345 226, 898 112, 301 36, 961 8,155 55, 458 15, 196 7,366 02, 559 53, 953 39, 325 47, 146 5,560 83, 756 1,881 8,950 211 8,193 85, 118 707 151, 402 5,666 036 236, 287 142 2,997 237, 373 2,223 4,234 8,409 43, 283 6,439 3,072 21, 019 2,550 10, 342 13, 610 384 1,734,704 455,411 Bor- rowers . 2,853 157 2,269 8,050 4,138 489 1,360 5,351 1,328 6,132 128 09, 163 37, 232 9,740 3,136 15, 540 3,133 1,731 18, 473 10, 975 9,513 9,619 2,040 21, 401 610 3,227 31 998 22, 373 254 21, 715 2,168 248 57, 878 28 924 68, 778 587 1,623 1,262 10, 235 2,108 776 6,464 661 4,395 3,962 155 Per cent of bor- row- ers. 31.94 40.15 37.72 25.70 27.42 15.18 45.81 24.77 34.33 20-. 05 37.10 30.48 33.15 26.35 38.45 28.02 20.62 23.50 29.53 20.34 24.19 20.40 36.69 25.55 32.43 36.08 14.69 12.18 26.28 35.93 14.34 38.26 38.99 24.49 19.72 30.83 28.97 26.41 38.33 15.01 23.65 32.74 21.13 30.75 25.92 42.50 29.11 40.36 26.25 300 REPORT OF THE COMMISSIONER OF LABOR. Taelt; X.— ASSOCIATIONS CLASSIFIED AS TO TOTAL REAL ESTATE LOANS. [Under lorms on real estate are included also, in the case of a few associations, loans on the stock of the associations, loans on other securities, and loans to shareholders without stock security. States and terri- tories. Total asso- cia- tions. Associations w th total real estato loans of— gm- al num- ber. Noth- ing. Under $25, 000 $25,000 or under $50,000 $50, 000 or tinder $75,000 $73,000 or under $100,000 $100,000 or nnder $125,000 $125,000 or under $150,000 $150,000 $175,000 or cr under .under $175,000 $200, CC0 1 2 LOCAL. Alabama 23 4 32 125 42 15 21 26 21 31 4 631 429 81 71 131 26 29 237 115 72 82 30 349 7 63 1 16 280 5 300 24 5 718 1 14 1,076 6 48 14 61 39 5 76 14 54 39 6 1 1 1 1 9 8 o 9 25 ■ 8 5 3 4 7 10 3 201 190 29 49 39 6 34 115 34 19 35 7 79 1 29 7 23 7 •8 10 5 2 3 1 111 115 16 9 33 4 8 53 19 20 22 10 70 2 21 :i 13 8 2 5 2 3 5 1 2 i 1 < 3 1 8 4 1 8 2 3 4 3 4 5 Colorado 5 , 7 1 7 1 4 5 4 1 2, i 8 Dist. of Columbia . 1 1 1 10 11 12 75 45 15 5 11 4 1 19 8 11 10 3 58 3 8 1 2 33 CO 25 4 2 11 2 1 12 11 5 39 47 14 o 1 2 2 11 10 4 3 20 23 3 4 1 9 1 2 5 9 3 1 11 2 i 4 13 2 1 1 2 13 14 13 10 17 18 19 8 1 1 30 1 1 1 1 13 1 1 29 21 22 23 24 Massachusetts Michigan Mississippi 25 20 3 2 2 27 28 New Hampshire.. New Jersey New Mexico New York North Carolina.. . North Dakota Ohio 1 1 2 2 2 10 73 2 104 9 3 228 1 323 3 17 6 37 17 1 26 10 24 14 1 1 38 1 C7 1 132 32 1 1 21 1 l 29 no 33 1 19 .. ... 19 32 • 31 32 33 44 4 25 2 ! 4 34 89 72 54 39 38 35 Oklahoma 30 2 281 2 15 4 9 9 17 3 11 6 3 2 161 2 107 f 1 37 38 Rhode Island South Carolina . . . Tennessee 71 42 31 12 39 40 10 2 9 5 2 33 10 5 1 2 8 - 1 1 41 42 5 1 3 i 1 43 Utah 41 7 1 5 5 2 2 i 45 Washington West Virginia Wisconsin Total NATIONAL. Alabama California 40 * 1 :> 1 47 43 5, 598 21 1,683 1,199 724 490 1 1 329 229 157 304 49 4 1 1 f.O 51 8 4 3 2 12 38 16 8 1 17 2 3 n 15 2 17 1 o 1 1 1 1 3 1 52 Dist. of Columbia. Florida 1 , l 'i 53 1 4 14 2 1 4 i 51 1 3 2 2 2 53 Illinois 2 1 1 4 1 50 2 2 57 58 59 Kentucky 4| , 1 » 60 61 1 1 1 02 03 Minnesota Mississippi i I l 1 1 1 " 1 01 2 3 65 2 2 2 60 Montana 1 a $700,370, $839,926, $1,072,155, $1,270,269. 6 $725,200, $745,100, $766,800, $845,075, $8B6,iiO0, $930,200, $940,900, $1,175,000, $1,335,400. C$989,366, $1,205,311, $1,055,084. d $700,400. e $702,658. CHAPTER I. GENERAL TABLES. 301 Table X.— ASSOCIATIONS CLASSIFIED AS TO TOTAL REAL ESTATE LOANS. Tliey aro included in these casca because the amounts -were not reported, and no separation could be iuado.1 Associations vvith total real estate loans of — Mar. ( J200.0CO '$230,000 '$300,000 '$350,000 or 1 or or or under under | tinder under 5250,000 $300,000 $350,000 $400,000 $400, 000 '$450, 000 '$500, 000 or 1 or | or under under under £450,000 $500,000 $550,000 5550,000 $600,000 '$050,000 or or or under under under J00J,000 $650,000 $700,000 $700,000 or OTer. ::ot re- port- ed. gin- al aum Ijer. j 1 1 i i i 1 i i 1 ', 11 11 1 -1 3 3' ' ! 1 1 1' 1 ' ' 1 11 2 1 1 3 ' | 1 5 | 1 4 1 i i 1 (1 1 ' 3 2 i i 1 ill 1 l ! : i i i ' fl4 F i ii i c l 1 1 1 i If i m_ 1 1 1 1 i 11 2> I | 7 1 n 1 :i H 1 1 '4 1 1 1 2 8 11 o9 ..:.. ir- o 1 1 1 2 i 4 1 1 IS 1 1 i i 14 i i ir 4 i I 1| 2 1 1 if 1 l r i ' i if ! 1 2 1 1 1 i< 7| 3 2 ' 1 1 °( 1 21 l 1 1 2 ' ! ?' 1 9 : 1 X 1 1 1 ?4 , 1" w .1 i i i I I I ?f i 1 1 ! I 1 r 1 1 1 "" '■"" ■'■ " i | ?f 15 1 8 0| 3| 2| 1- 1 1 1 ?< 1 3( 8 1 7 1 A. \ i. 1 3 1 1 ! 3 1 ■ ! 1 3 2J | 11 1 13 9 3 1 . * 1 | 2 c3 3' 13 1 12 \ i ; S ril l a 1 '■i ■ 1 1 l < 4 1 3| 2 2 I '. 1 | 1 4 1 1 1 4 1 1 2 I 1 i /j 2 1 1 1 i A 1 1 i 4 1 1 1 1 i 4 1 1 i l 4 1 1 1 i 1 i i 1 i i l 163 1 92 | 58 46 | 28 11 17 H 6 | 3 17 1 • 1 l i ! i i I 4 i i i el ^ ! | 1 1 i) j i i 1 1 I ! > 1 1 1 i i i 1 :..i i i i 1 /? ; si 5 1 I 4 1 I .* 1 1 i| - 5 5 1 1 i 1 i i fl > i i 1 ' 1 S 1 l 1 1 i i 1 1 1 5 ! ! 1 | i (! 1 . 1 i i 1 i fi 1 1 2 i 1 .... 1 M • 5 e 1 1 I i 6 2 i 1 i | i2|- t i ( /$78 r/$91 A$l, 3,700, $1 9.800. 102,250. 020,260. { $804, j $1,02 J09, $933 ',667, $1, 553, $95] 036,991. ,450, $9" 1,700, i?l 811,414. 302 REPORT OF THE COMMISSIONER OP LABOR. Table X.— ASSOCIATIONS CLASSIFIED AS TO TOTAL REAL ESTATE LOANS— Concluded. Mar Slates and terri- tories. Total asso- cia- tions. Associations with total real est ate loans of — Sin- ai num- ber. Noth- ing. Under $25,000 $25,000 or under $50,000 $50, COO or under $75,000 $75,000 or under $100,000 $100,000 or under $125,000 $125,000 or under $150,000 $150,000 .or under $175,000 $175,000 or ■under $200,000 1 NATIONAL — COnc'd. 4 1 2 28 1 1 3 3 3 3 17 2 1 7 3 2 3 3 1 ?, New Hampshire- . New Jersey New York North Carolina - . . North Dakota Ohio 3 1 1 a 6 1 1 4 5 2 3 1 1 fi l 7 1 1 R i 1 1 1 n Pennsylvania South Dakota Tennessee 1 1 10 l 2 1 1 1 n 3 1 2 1 2 1 13 "Utah 14 2 1 1 2 . 1 15 Washington "West Virginia Total 1 1 1 IB 1 17 1 i 5 . 50 39 17 21 12 12 | 10 ALL ASSOCLVWONS. 18 27 4 32 133 40 15 21 29 23 43 4 669 445 89 72 148 23 29 240 115 75 97 32 366 8 70 1 17 288 5 418 25 6 721 1 17 1,079 48 17 78 41 83 17 56 43 6 1 1 1 1 9 9 2 9 20 8 5 3 4 8 14 3 215 192 31 50 43 6 14 115 34 19 35 9 82 1 32 7 7 30 9 8 10 6 3 4 1 117 116 19 9 37 4 8 54 19 20 23 10 72 2 22 3 2 7 18 8 o 5 3 3 5 2 2 1 19 Arizona 30 Arkansas 1 9 4 1 8 2 3 4 3 1 21 5 8 1 22 23 Connecticut Delaware U 1 5 5 4 1 3 25 20 Dist..oi' Columbia. 2 1 2 1 2 1 27 28 29 77 46 16 5 13 4 1 19 8 11 11 3 59 4 8 1 2 34 61 26 4 2 12 2 1 12 11 5 7 3 41 50 16 2 1 6 2 2 11 10 4 4 20 25 3 4 1 12 1 2 5 9 3 2 2 24 14 11 2 1 4 15 8 2 1 1 2 30 31 a?, 33 34 35 Maine 36 8 6 5 1 1 18 1 1 2 1 15 1 1 37 38 Massachusetts 39 40 41 Minnesota Mississippi 42 Montana 43 3 2 2 44 Nevada 45 Now Hampshire . . New Jersey New York North Carolina . . . North Dakota Ohio 1 2 2 2 2 10 74 2 172 9 4 228 1 7 323 3 17 7 19 - 17 1 28 11 25 14 1 1 38 1 73 6 1 132 2 32 1 23 1 27 2 l 4li 47 18 1 19 1 30 19 12 48 49 50 45 4 27 2 10 1 1 51 52 89 73 54 19 18 53 3 282 2 15 4 12 9 17 3 12 7 3 3 161 2 108 i i 51 55 Pennsylvania South Carolina . . . South Dakota. : . . . 71 42 32 12 50 57 10 2 9 8 2 15 1 10 5 1 o 2 10 6 6 1 1 1 4 1 1 58 59 3 1 1 1 GO TJ tah 61 9 1 5 6 2 2 1 02 Washington West Virginia "Wyoming . . . ^. C3 4 1 3 1 64 1 1 Total 5,838 22 1 1, 942 1,238 741 511 341 241 167 109 a $766,848. 6 $790,852. C$3,210,600. d $1,285,500. '. $702,658. /$700,370, $839,926, $1,072,155, $1,276,209. g $783,700, $1,026,269. h $725,200, $745,100, $766,800\. $845 075 $886,900, $919,800, $930,200, $940'90o' $1,175,000, $1,338(400. ' CHAPTER I. GENERAL TABLES. 303 Tabi.k X.— ASSOCIATIONS CLASSIFIED AS TO TOTAL REAL ESTATE LOAHS— Concluded. Associations "with total real estate loans of — Mar- Rin- al num- ber. $200,000 I 01* under $250,000 S, 250,000 or under >300,000 3300,000 $350,000 or 1 or rmder [ under J350.000 $-100,000 1400,000 '$450,000 or j or under | tinder J450,000 $500,000 1500,000 or under 5550,000 £550,000 or under !600,000 $600,000 or under J6c 0,000 £650,000 or under {700,000 1700,000 or over. Mot re- port- ed. | | 1 1 l 1 ol •>, 1 1 1 3 1 | 1 1 l| 3 1 A 1 1 "> 1 1 fi 1 1 1 7 i 1 I I 8 1 1 1 I 1'"" Of 1 i 1 1 -I "1 cX in 1 ------ !| 1 1 1 1... n 1 1 i? 1 i 1 1 13 1 1 l \ 1 dl 1 14 i 15 1 ' 1 1 Iff 1 12 1 1 1 1 • ' 17 7 | | 7 r, 5 | 2 2 2 1 3 | 10 1 | 1 1 18 13 1 3 1 4 1 3 1 1 1 1 1 ?0 1 4 2 1 1 1 5 M : ci 21 j i ?,?. 1 3 2 4 ! .1 i n 1 i i fi n. i 1 ' i an 2 I 1 i 2 n 1 w 20 11 2 1 8 1 1 1 4 1 1 20 9 10 2 9 3 12 1 1 4 1 2 7 2 9 3 j All) [ 29 30 1 1 I 3T 1 1 3? 5 1 2 1| 2 2 1 1 1 33 1 1 . 2 1 1 i 37 o 3 ti 38 1 1 1 39 i 40 2 2 A2 41 i 42 1 , 1 1 1 ' 1 43 ! 1 1 . . i 44 i 1 : 1 1 ol 45 13 8 3 2 1 1 1 1 40 47 9 1 9 7 1 5 5 2 1 1 1 4R 49 1 50 23 12 13 9 3 *l 1 ■ 2 13 5T 5"> 19 1 12 1 1 4 1 s: 1 3 .. I ml 1 M 1 55 SI ill el 57 2 3 3 3 1 1 51 59 1 2 1 2 1 2 Oil 1 1 1 1 dl 61 fis 1 63 1 64 Bf 175 90 04 53 33 19 19 16 8 6 33 1 i $1W> 250. I $989,366, $1,205,311, $1,955,084. j $804,609, $933,556, $951,450, $971,709, $1,811,414. m $700,400. A- $1,027,667, $1,036,991. 304 REPORT OF THE COMMISSIONER OP LABOR. Table XI.— HOMES AND OTHER BUILDINGS ACQUIRED BY BORROWERS DURING THE LIVES OF THE ASSOCIATIONS. States and turrilori Total associa- tions. Homes acquired. Associa- tions re- porting as to. Number. Other buildings acquired. Associa- tions re- porting as to. Number. LOCAL. Alabama Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Idaho' Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana ■- .Nebraska Nevada Now Hampshire New Jersey .■New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania . . -■ Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia : . "Washington. ■West Virginia "Wisconsin Wyoming Total NATIONAL Alabama California Colorado District of Columbia Florida Georgia Illinois Indiana Iowa Kansas Kentucky Louisiana Maryland Michigan Minnesota Mississippi Missouri Montana Nebraska Now Hampshire New Jersey Now York 23 4 32 125 42 15 21 26 21 31 4 631 429 81 71 131 26 29 237 115 72 82 30 349 7 06 1 16 286 5 390 24 5 718 1 14 ,076 6 48 14 61 39 5 76 14 54 39 5,598 20 4 32 103 39 15 16 20 21 27 4 543 300 67 67 128 26 16 179 45 45 73 28 330 7 63 1 15 188 5 360 19 4 053 1 11 451 3 46 13 60 34 4 67 14 51 39 4 1,936 107 2,697 4,386 2,671 316 1,114 4,571 1,089 1,726 113 53,111 18, 866 6,937 3, 684 12, 632 2,682 66 14, 075 857 2,186 5,920 1,899 14, 695 506 2,588 29 350 8,928 199 14, 669 1,217 366 61, 700 25 245 19, 076 431 1,255 693 7,075 1,356 615 4,719 237 3, 776 2, 310 93 4,272 290, 803 106 037 433 374 29 2,683 4,283 807 1,156 48 1,828 245 243 1,700 009 22 2,220 2 912 21 4 32 104 39 15 14 19 21 27 4 538 288 73 67 120 26 19 204 42 45 75 28 329 7 65 1 15 196 5 359 20 4 642 1 11 434 3 47 13 60 34 4 69 14 40 39 4 4,250 CHAPTER I. GENERAL TABLES. 305 Tablk XI.— homes and other buildings acquired by borrowers- DURING THE LIVES OF THE ASSOCIATIONS— Concluded. State* i'.jhT territories. national — concluded. North. Carolina. North Dakota.. Ohio Oregon Pennsylvania . . South Dakota . . Tennessee Texas Utah Virginia Washington West Virginia . "Wisconsin Total. ALL ASSOCIATIONS , Alabama ' Arizona Arkansas ( . California ' Colorado .' Connecticut Delaware District of Columbia Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Novada New Hampshire New Jersey New Mexico New York North Carolina North Dakota ( yhio Oklahoma Oregon Pennsylvania Khode Island South Carolina South Dakota Tennessee Texas Utah Virginia Washington West Virginia Wisconsin Wyoming Total associa- tions. Total. 133 40 15 21 20 ■ 23 43 ■1 ci.i:) .115 118 28 20 210 115 75 07 ;;o 300 8 ■70 1 17 2S8 5 418 25 721 1 17 ,079 48 17 78 41 83 17 50 42 Homes acquired. Associa- tions re- porting as to. Other buildings acquired. Associa- tions re- porting as to. 470 91 15 491 ,010 170 102 50 00 348 23,952 108 42 15 10 22 23 38 4 572 311 73 08 115 27 10 181 45 47 78 20 339 7 GO 1 15 1S9 5 383 19 5 050 1 14 455 3 40 10 77 30 4 71 10 53 42 4 4,441 2, 012 107 2,097 5, 023 3, 104 310 1,114 4, 945 1,118 4,409 113 57, 391- 19,073 8,093 3,732 34,400 2,927 GO 14,318 857 3,880 0,529 1,921 16,915 500 2,670 29 350 8,930 199 13,581 1,217 372 02,188 25 330 19, 091 431 1,255 1,187 10, 091 1,520 015 4,911 293 3,830 2,058 314, 755 4 32 109 42 15 11 22 23 38 .} 507 292 78 08 130 27 19 200 42 17 79 29 33S 7 00 1 15 103 5 383 20 5 045 1 14 435 3 47 10 30 4 73 10 51 42 4 Number- H. Ex. 209 20 306 REPORT OP THE COMMISSIONER OF LABOR. Tabmc XII,- MORTGAGES FORECLOSED DURING THE LIVES OF THE ASSOCIATIONS. Total associa- tions. 1 Mortgages foreclosed during 1 ciation. fe of asso- States and territories. Associa- tions re- porting as to. ' dumber Amount. Jjoss. LOCAL. 23 4 32 125 42 15 21 26 21 31 4 631 429 81 71 131 20 29 237 115 72 82 30 349 7 CO 1 IB 286 5 390 24 5 713 1 14 1,070 48 11 61 39 5 76 14 54 39 23 4 32 123 41 15 15 26 20 29 4 020 428 78 65 129 21 29 201 115 72 79 29 348 7 04 62 2 42 48 120 $65, 318 3,000 90, 665 171, 204 254, 060 $3,210 2,800 11,063 3,322 82 37 29 39 1 946 245 151 207 324 34 6 843 151 20 720 43 382 16 128 112,472 82,945 63, 362 48, 032 1,378 1, 629, 133 181, 780 104, 560 152, 956 406, 520 03,500 4,400 259, 142 269, 549 24, B83 CS9, 108 49, 008 v 014, 095 23,850 110, 651 .278 1,715 7,090 0,851 11,517 18,325 7,164 101,828 3,533 1, ISO 8, 497 I^eTT Hampshire 10 201 5 389 24 5 096 1 11 813 5 47 11 61 39 4 71 It 54 39 5 2 298 4 291 38 29 1,512 1,600 495, 942 7,000 598, 118 18, 652 32, 350 2, 460, 602 44,962 0,705 Ohio 103, 230 1 793 1, 308 093, 890 51, 015 Khorle Island 43 09 258 14 17 111 9 03 34 1 32, 550 56, 675 325, 634 16, 377 22,200 97,900 8,100 48,096 39, ISO 703 750 1,000 9,148 209 1,000 2, S23 IT tab 494 1,200 Total 5,598 5,200 7,765 11, 031, 394 411, 106 NATIONAL. 4 8 4 3 2 12 38 16 8 1 17 2 3 3 15 2 17 1 4 1 2 28 3 8 4 3 2 12 37 10 8 1 17 2 3 3 11 2 15 1 4 1 2 27 4 D 2,770 15, 504 31 13 13 14 •13, 186 22, 731 14, 600 12, 013 800 7 9, 7S0 8,550 25 4 314 U. 100 70S, 005 80 1,707 30 1 2 13 40, 134 600 2,- 282 22, 100 CHAPTER I. GENERAL TABLES. 307 Taislb XII.— -MORTGAGES FORECLOSED DURING THE LIVES OF THE ASSOCIATIONS— Concluded. States and tei-ritork. TotaL" associa- tions. Mortgages foreclosed during life of asso- ciation. Asaocia- tionS' re- porting as to. dumber. NATIONAL — concluded ° North Carolina North Dakota Ohio Oregon Pennsylvania South Dakota - Tennessee Texas Utah Virginia- "Washington 'West Virginia "Wisconsin Total ALL ASSOCIATIONS. Alabama - Arizona Arkansas California Colorado Connecticut Delaware , District of Columbia Florida Georgia Idaho '- Illinois Indiana Iowa . ... Kansas Kentucky Louisiana Maine - _ Maryland Massachusetts Michigan Minnesota . -■ Mississippi Missouri - Montana Nebraska Nevada - New Hampshire New Jersey •- New Mexico New York North Carolina North Dakota Ohio Oklahoma. '- Oregon Pennsylvania Bhode Island South Carolina South Dakota Tennessee Texas Utah Virginia "Washington "West Virginia Wisconsin Wyoming Total * 27 4 32 133 46 15 21 29 23 43 4 660 445 80 72 148 28 20 240 115 75 97 32 SCO 8 70 1 17 288 5 418 25 6 721 1 17 ,079 6 48 17 78 41 C 83 17 56 42 6 $u, 650 94, 138 62, 609 750 500 48,800 2,200 1,700 25 32 131 45" 15 13 29 22 41 i 663 444 86 60 140 29 204 115 75 9a 31 363 06 2 42 53 120 3,000 90, 665 186, 708 254, 660 82 37 29 70 1 959 255 165 207 331 40 6 340 154 24 ,064 43 412 17 130 112, 472, 82, 945 63, 302 91,218 1,378 , 651, 864 196, 380 116, 609 152, 956 416, 300 72, 050 4,400 25$ 142 269, 549 31, 083 , 757, 173 49, 008 654, 229 24,450 112, 833 17 263 5 416 25 6 699 1 17 816 5 47 17 78 41 5 81 17 56 42 5 2 298 4 304 38 20 1,512 1,000 495, 942 7,000 620, 218 18, 652 32, 350 2, 460, 602 5 793 7, 958 43 140 324 15 18 125 11 64 34 1 32, 550 150, 813 388, 243 17, 127 22, 700 146, 790 10, 300 47, 796 39, 180 793 5,440 308 REPORT OF THE COMMISSIONER OF LABOR. Table XIII.— ASSOCIATIONS CLASSIFIED AS TO TOTAL STOCK LOANS. [In the case of a few associations the loans on stock aro included in the loans on real cstato, and Mar- States and terri- tories. Total asso- cia- tions. Associations ■with total stock loans of- gin- al num- ber. Noth- ing. Un- der tl, 000 $i,ooo'$2,ooo!$3,ooo' or un- or un- or un- der der der {2, 000 $3, 000 $4, 000 f 4, 000 or un- der {5, 000 ;5, ooo or un- der £0, COO $6, 000 $7, 000 $8, 000 or un-'or un- or un- der der der $7, 000 $8, O00.$9, 000 $9, 000 or un- der $10, 000 1 LOCAL. 23 4 32 125 42 15 21 26 21 31 4 631 429 81 71 131 26 29 237 115 72 82 30 349 7 66 1 16 286 5 390 24 5 718 1 14 1,076 6 48 14 61 39 5 76 14 54 39 6 12 1 10 71 8 7 18 12 17 1 258 173 34 51 49 19 11 157 8 31 22 20 198 3 24 1 10 64 2 249 3 5 353 1 6 321 1 21 9 56 21 2 41 10 37 12 1 1 1 1 1 1 2 1 1 1 | 2 3 Arkansas California 9 17 4 2 2 2 3 3 2 127 91 18 11 28 1 9 21 25 11 22 2 73 1 18 1 2 2 2 2 3 1 4 5 8 5 3 3 3 2 G 2 2 1 6 1 1 4 1 1 3 1 2 1 1 1 2 2 6 Connecticut Dist. of Columbia Florida 7 1 I i 1 o 1 1 8 i 1 10 1 i 1 11 1 19 13 2 ! 12 64 42 11 3 14 2 5 13 19 8 17 3 25 36 26 5 1 7 30 21 1 8 1) 1 3 7 5 1 1 4 1 11 7 1 1 1 5 6 1 1 3 5 1 1 2 13 14 15 10 17 Kentucky Louisiana 3 3 1 18 3 12 n 9 10 1 12 ♦ 1 3 1 3 2 19 20 21 Maryland Massachusetts . . . Michigan Mississippi 7 6 .3 2 1 16 1 3 5 C 1 2 6 5 4 2 2 4 2 3 1 1 22 ......... 23 24 4 1 1 2 1 d 1 2 25 26 27 Nebraska 3 1 2 28 New Hampshire . New Jersey New Mexico New York North Carolina . . North Dakota. . . . 4 46 1 59 4 1 35 1 32 7 1. 17 | 29 30 24 10 19 1 4 2 14 15 9 1 3 31 32 15 3 4 1 (i 1 1 1 33 34 200 52 30 17 19 4 I 4 ... 5 4 35 Oklahoma 30 3 179 1 4 3 2 8 11 5 12 2 100 1 2 2 2 2 4 2 1 5 2 1 82 1 3 2 34 36 ... 1 20 37 38 Pennsylvania Khode Island South Carolina .. South Dakota Tennessee 55 1 52 1 4 1 14 13 39 1 1 40 . 41 i 42 1 2 ! 3 1 1 43 Utah 44 2 1 2 ! * 1 1 1 45 "Washington "West Virginia . . . "Wisconsin Wyoming Total KATIdN.U.. Alabama California Colorado Dist. of Columbia I'lorida Georgia c - | - 46 ■■■! * i i 2 J 1 1 2 1 47 2 1 i l 48 i 1 50 5,598 2,450 1,047 511 305 219 | 176 121 102 78 ' 50 49 i 8 4 3 2 12 38 16 8 1 17 2 3 3 35 2 17 1 4 1 1 1 i 2 ! | ' 50 3 i 1 51 i i 1 | 52 2 1 2 4 7 7 1 2 1 53 1 2 17 1 4 i J 54 1 I 1 1 5 2 i 3 1 i 55 2 1 1 1 1 1 56 57 58 Kentucky Maryland Minnesota Mississippi 59 i 1 1 00 1 ei 1 62 2 63 2 5 1 1 64 4 2 3 05 2 1 ! i 1 66 Montana Nebraska New Hampshire 07 1 3 I 08 fi $72,650, $75,007. 1. $98,450. c$90,410. d$1 02, wn 5 $79,300, $07,000. f $148,748. CHAPTER I. GENERAL TABLES. 309 Table -XIM.— ASSOCIATIONS CLASSIFIED AS TO TOTAL STOCK LOANS, the amounts not being reported separately are not included iu tliis table.] Associations -with total stock loans of— $10, ooo' or im- der $15, 000 fl5, OOo'$20, CO!" or un- or un- der dcr {20, 000 $25, oo: f 25, 000 or un- der J30, 000 $30, OOO] or un- der $35, 000 $35, 000 or un- der $40, 000 $10, 000 dcr $45, 000 $45, O00'$30, CO0'$55, 000 or un- 1 or un- 1 or un- der | dcr der $50, 000 '555, 000 $00, 000 $60, 000 or un- der $05, 000 $65, 000 or over. Not re- ported. gin- nl num- ber 1 1 1 ! i 1 1 1 2 3 1 1 2 1 1 1 ' . _ i < 1 2 3 1 1 11 ' aS 4 3 1 II I 61 5 1 '■ 1 6 3 1 1 1 2 1 1 cl 1 ! ' 1 8 I 9 1 1 i j ■ i i j iii 4 i 11 23 12 1 1 4 13 8 2 1 1 3 5 1 1 1 " | c " 7 5 4 12 13 1 ' t /l 14 1 ' i 15 4 1 i 6 16 1 I ' 1 ! 1 i 18 1 5 1 1 1 5 3 10 .,. 1 II ■ 1 4 19 4 1 1 ■ ' i 20 . . 1 1 21 1 3 | 1 1 22 1 2 I i 1 |. ... 1 23 1 1 1 Ill 24 i 1 " 1 ' ! 1 25 2 1 1 1 T" '1 j'" i * 26 i i i ' i : 27 . i i ' i 28 21 fl| 1 4 3 1 ; : I 4 29 1 . 1 : i 30 1 a 1 2 2 ...1 1 ; ' 1 31 l III 32 i 1 1 14 ) 2 1 M 1 i j i] i 2 34 35 co 1 23 ' 1 ■ ! 36 21 1 .:M 4 5 '■'• 2 J ■ 3 2 ! gl 23 37 38 2 2 1 i 3 39 i I 40 1 1 1 3 i ... . 1 41 i i 1 42 •! i 1 43 l| ij l ^■■■■■" 1 i i - 44 i 45 j 1 i i 2 . .1 46 i ; i i 1 47 , 1 48 ! | 1 1 i 1 I 175 | 94 44 23 19 9 9 | 'J | | 1 * 15 | 76 1 ft 1 49 1 1 l i ] 50 i ' 51 1 1 1 1 i 1 52 ...1 i ! 53 1 1 1 1 i * t3 1 54 j 1 1 i ! 55 1 56 1 ' 67 i I 58 1 ! * ' 1 59 i i 00 l CI 1 02 ; 1 1 1| 2 1 l I ;i 03 1 64 * t K 65 i 66 1 : i '■ ■- 67 1 V i 68 n$05,000, $80,500, $85,400, $86,443, $93,184. S163. 200. $309,800. /. $73,817. j $68,315. i $84,700, $86, 372, $103,098. /: $85, 119. 310 REPORT OF THE COMMISSIONER OF LABOR. Table XIII.— ASSOCIATIONS CLASSIFIED AS TO TOTAL STOCK LOANS— Concluded. Mar- States and terri- tories. Total asso- cia- tions - Associations with total stock loans of — gin- al num ber. Noth- ing. Un- der $1, 000 $1, 00q'$2, 0Dq'$3, 0B0 or un-|or un-jor un- der der I der $2; 000 $3,000 $4, 000 $4,000 or un- der $5, 0D0 $5; OOo'$6, 000 or nn-! or un- der ' der $6, 000 $7, 000 $7, OOo'$8, OOOJ $9, 000' ornR- or-un*- or/Ten- der der' der $s, ooo $Qi ooa'$io, ooo 1 NATIONAL — COnC'd. New Jersey New York North Carolina . . North Dakota . . . Ohio 2. 28 1 1 3 3 3 3 17 2 1 7 3 2 3 12 1 9 2 1 1 1 2 1 l 3 4 1 1 1 14 1 1 S 1 2 1 1 2 1 1 1 1 1 fi Oregon Pennsylvania South Dakota . . . Tennessee Texas Utah . 7 1 8 1 1 " il 1 in 1 n v>, 3 ....... 1 1 1 1 2 m Washington West Virginia... Total..- ALL ASSOCIATIONS. Alabama l 14- 15 1 1 240 69 56 25 25 8 7 3 5 * 4 16 27 4 32 133 46 15 21 29 23 43 4 669 445 89 72 148 28 29 240 115 7.5 97 32 306 8 70 1 17 288 5 418 25 721 1 17 1,079 6 48 17 78 41 6 83 17 50 42 6 33 1 16 71 8 7 20 13 19 1 262 180 37 51 56 20 11 159 8 31 22 20 202 3 25 1 10 64 2 261 3 354 1 322 1 24 9 70 22 2 44 10 38 12 1 1 ...... 18 4 2 2 2 4 5 2 144 93 20 12 32 1 9 22 25 11 22 4 76 1 18 3 1 1 2 1 1 1 17 1 18 Arkansas 1 2 2 2 2 3 19 20 9 7 3 3 3 U 9 2 2 ...... 1 6 o 1 4 2 1 1 4 I 2 1 1 2 2. 21 Connecticut Delaware Dist. of Columbia Florida 22 1 1 i 1 2:1 24. 25 1 21 13 2 1 26 Idaho . _. Illinois. . . 27 66 43 13 3 15 2 5 13 19 8 19 3 27 ..... 41 28 5 1 8 33 25 1 8 9 1 3 7 5 1 1 4 1 12 7 1 1 2 6 7 1 1 3 6 2 1 2 29 30 Kansas.. Kentucky Louisiana 31 32 4 4 1 33 3 12 11 9 15 1 ■33 1 3 1 3 2 e>" 34 35 30 Massachusetts. . . Mississippi Missouri 7 6 3 2 1 18 1 3 5 6 3 2 6 5 4 2 2 4 2 2 2 3 1 2 37 38 39 40 6 1 1 2 2 5 2 2 l 41 42 Nebraska Nevada 3 I 2 43 New Hampshire . New Jersey New York North Carolina . . Ohio 4 47 1 68 4 1 35 1 3-1 8 1 17 1 44 45 25 11 19 1 4 2 14 15 9 1 3 40 47 15 3 4 1 2 1 2 1 1 48 49 20 L 52 31 17 19 4 1 * 5 4 50 Oklahoma Oregon 51 5 180 1 4 4 4 8 12 1 a 12 2 101 1 2 2 2 4 :: 4 G . 2 2 82 1 3 1 2 34 36 1 20 52 53 Pennsylvania Rhodo Island South Carolina . '. South Dakota Tennessee Texas- 55 1 52 1 4 1 14 13 54 ii.::::: 1 55 bti i 57 1 2 3 1 1 58 Utah 59 4 1 2 2 1 2 2 o m "Washington West Virginia... Wisconsin Wyoming Total m 2 2 1 1 1 62 2 3 1 63 5,838 2,519 1, 103 I 536 330 227 183 121 105 33 | 5t 54 a $70,469. b $73,817. C$72,650, $75,007. d $98,450. e $90,410. / $84,706, $86,572, $102,200, $103,608. t) $79,300, $ A $148,748. 7,000. CHAPTEE I. GENERAL TABLES. 311 Ta;:i.:j XMS.— ASSOCIATIONS CLASSIFIED AS TO TOTAL STOCK LOANS— Concluded. A ssocciat iona witli total stock loans of— Mar- $10, 000 cr wil- der $15, COO J15,00o'$20,000 or ua- 1 or un- der I der $20, 000 $25, 000 $25, 00u'$30, COO or un- 1 or un- der | der $30, 000 $35, 000 $35, 000 or un- der $40, 000 $40, O0fl'$45, 000$50, 000'$55, OOo'$00, 000 or un- or un- 1 or un- 1 or un- or un- der tier der der der $45, 000 $50, 000 $55, 000 $60, 000 $05, 000 $65, COO or over. Not re- ported. gin- al num- ber. 1 1 1 1 2 1 3 l 1 4 " 1 5 1 6 .1... I 7 1 1 | 8 | t 9 1 1 ! 10 l l 1 01 1 11 1 I:::::::::.::.::::::. 12 1 i i 1 13 , i 1 14 i 15 "0 5 2 5| 1 2 i| i 7 1 1 1 i 61 1 16 17 1 1 1 2 1 1 2 18 3 1 1 1 i c2 til 19 20 i ■ r 21 1 1 2 1 , i ' el 1 22 ■"■■""I i "i 1 23 , i i 1 21 M l ) M ! ! M "■ 5 25 i 26 30 12 1 1 5 13 9 1 3 ° M- | i ■ 3 ! 2 | 1 * 2 7 5 4 27 28 1 ' 1 _' 1 1 7il ?9 30 5 1 ; 1 G 31 1 T ' 33 1 33 1 5 2 o 1 5 3 10 1 4 34 4 1 * 35 | '! 1 1 ... .„'.. 1 1 36 2 3 1 1 2 2 1 i 1 1 1 ' 37 | < 38 1 M 1 i jl 09 i 40 2 1 1 i i 1 41 i -i 1 42 1 21 i i [ 43 6 1 4 3 4 44 45 1 4 1 2 2 1 - 1 46 47 l 4R 14 o 2 1 M 1 l 1 2 49 50 CJ l 25 i 51 21 6 1 4 4 5 3 2 3 2 kl 28 52 53 2 2 1 1 4 2 1 1 1 3 54 03 50 1 57 si 58 1 1 1 1 1 1 59 60 1 1 2 61 1 1 62 63 181 99 46 28 20 a" 11 7 7 4 22 1 77 68,315. 85,119. J $65,000, $80,500, $85,400, $86,443, $93,184, $163,200, $309,800. 312 REPORT OF THE COMMISSIONER OF LABOR. Table XIV.— ASSOCIATIONS CLASSIFIED AS TO DUES AND PROFITS. [The facta in this table relate to dues and profits on instalment shares only. In a very few cases, however, the amount paid on prepaid and paid-up stock is included because it was not reported eepa- gin- S'jitoaand lorriforio LOCAL. Alabama Arizona Arkansas California Colorado Connecticut Delaware District of Columbia. Florida Georgia Idaho Illinois ,. Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina NoTth Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Igland : . . . South Carolina South Dakota Tennessee Texas Utah Virginia "Washington West Virginia "Wisconsin "Wyoming Total NAT I OX AL. Alabama California Colorado District of Columbia. Florida Georgia Illinois Indiana Iowa Kansas Kentucky Louisiana Maryland Michigan Minnesota Mississippi Missouri Montana Total asso- cia- tions. Under $25, 000 Associations with due3 and profits- of— $25, 00o'.$50,000 $75, 000 j$100, 000 or or or or under under under under $50, 000 $75,000 $100, 000 $125, 000 $125, OOOJ$150, COO or 1 or under under $150, 000 $175, 000 $175, 000 or under $200, 000 23 7 2 9 42 5 5 3 7 10 2 198 200 32 40 40 5 14 120 31 17 27 .8 114 1 27 1 8 21 10 7 5 3 2 3 2 119 109 15 16 34 5 9 56 17 19 15 9 81 2 21 1 9 8 3 7 4 4 4 1 1 1 4 32 125 42 15 13 4 2 3 2 i 3 3 ! 4 2j. 2 7 21 i 1 i 26 21 2 7 1 3 2 !... 1 1 1 31 3 4 "1" 031 429 81 71 131 20 20 79 55 11 9 13 i 17 9 14 22 4 41 2 7 1 1 35 52 25 8 1 1 14 12 2 9 1 24 1 6 44 | 29 9 1 5 2 7| a 2 i 2 :i 19 9 2 3 1 8 3 1 1 1 237 115 72 82 30 340 7 10 8 7 ,4 1 18 10 li 1 17 o ■8 2 - 2 13 3 4 <> 2 i V CO 1 2 I 2 i ! 10 10 70 2 162 10 2 262 1 6 301 3 14 7 24 15 1 28 10 21 13 1 2 40 1 08 5 2 137 2 30 1 20 1 20 2 1 38 280 5 14 | 2) 1 1 2J | 6 14 i 380 24 51 5 25 1 7 1 5 i 718 1 91 CO 67 | 21 14 | 14 2 248 1 12 3 8 9 21 2 11 9 1 2 175 1 12 2 5 2 12 1 8 4 2 2 100 1 1,070 6 80 44 J iO 29 I 48 4 1 8 2 1 3 ;1 ■ 14 01 39 1 | 1 1 ' 5 70 4 5 1 14 1 8 i 54 1 , 2 39 1 4 ! 4 1 6 5,598 1,932 1,180 755 463 309 | 232 | 170 J 14 ; -- 4 1 1 2 5 14 4 2 1 7 1 1 1 8 1 1 2 3 4 3 1 i 2 12 1 4 1 3 i 2 .... 2 ! 2 38 8 1 3 1 10 8 i 1 17 5 1 1 2 3 ii r 3 15 2 2 G i 3 i 17 1 1 3 V- a $700,380, $844,508, $1,425,020. 6 $700,929, $724,511, $733,692, $750,330, $778,040, $'.)28',933, $978,000 SI 01'' 73(1 C$740,207, $978,203, $1,185,463. CHAPTER I. GENERAL TABLES. 313 Tabi.k XIV — ASSOCIATIONS CLASSIFIED AS TO DUES AND PROFITS. rately. Advance payments and dues, interest, premiums, and fines in arrears aro in some cases included, in others not, according to the practice of each association.] Associations with dues e nd profits of— $200, 000 or under $250, 000 $250, 000 '$300, C00| $350, 000 or or or under under | under $300, 000 $350, C00 $400, 000 $400, 000 or under $450, 000 $450, 000 or under $500, 000 $500, 000[ $350, 000 '$000, COo' $050, 000 or or or j or under under l under under $550, 000 $600, 000 $650, 000 $700, 000 $700, 000 or over. gin- al num- ber. ' I i i 8! 1 1 j 1 a i 1 2 3 1 1 1 •j ; 1 i i i i 4 5 I G 7 1 1 ! 1 1 1 l ! i : . 1... 1 j ID 2 * 5 .... 1 l 20 I 21 i 1 1 1 1 1 | 22 ID 1 5 , ! ' 23 24 25 26 27 28 2D 30 31 32 33 34 35 36 37 1 1 i 1 1 " . 1 1 1 1 1 ■ 1 " 13 1 14 ■li i\ 2 1 i 1 1 10 1? 5 j :i | i j 3 1 !.. 1 1 1 1 1 ; 2t 1 n I 3 | 2 1 1 2 c'i j i 3 ! 8 1 1 31 15 1 1 ! 38 | 1 i !, i 1 40 2 a P? ni.«t« ,w. ' *- th0 n Caso 0f - a ^ ei 7 f ? w associations, included under tho item, all other assets. nofccm,^r™i-,= ^»? ot . IIlal eases include dues, interest, premiums, and fines in arrears, as they are ?!,St? a ? aSS6t3 hy aU °? ihe associations. Dues paid in on instalment shares in force includes JSA.^T 8 advance payments, and dues, interest, premiums, and tines in arrears, amount* paid on S™S?i ,™l P 2 ld ii' P - at S ck , 1 V d profits - - £ roflta inclade in som « eases unearned premiums divided C^t™,C™, y , I -? M , d ■>? dues All other liabilities include in some cases advance payments amountpaid on prepaid and paid-up stock, and unearned premiums.] Liabilities. Borrowed money. j Dues paid in | on instalment ! shares in 1 i force . $10, 656 600 04, 145 1, 653, 921 382, 781 6,600 26, 775 102, 494 17, 227 56, 334 507, 132 , 009, 711 470, 124 12, 583 366, 756 36, 939 5, 575 084, 267 17, 179 43, 120 202, 249 33, 719 , 347, 905 14, 357 23, 211 1,000 811,449 10,109 299, 977 07, 821 10, 750 702, 227 21, 150 1, 644, 298 81, 690 44, 171 29, 413 58, 632 166, 825 2,205 101, 055 26, 150 112 $1,127,496 92, 067 2, 075, 183 10,450,342 3, 903, 220 401, 539 1, 200, 953 4, 900, 281 1, 010, 207 2, 250, 560 84, 812 47, 574, 467 15, 886, 400 4, 408, 822 1, 732, 747 9, 979, 040 3, 004, 289 1, 228, 710 10,500,659 11,658,513 3, 959, 694 3, 584, 265 1,790,743 17,605,491 315,035 1,985,095 46, 580 475, 890 23, 744, 154 215, 192 22, 724, 290 714, 217 169,870 49, 529, 350 17,415 725, 310 00. 724, 640 599, 296 1,799,096 354, 677 3, 987, 723 1, 483, 098 504, 927 3,687,043 187, 478 2, 400, 758 2, 012, 997 237, 748 I'mlils. $388, 141 42, 041 591, 987 3, 617, 040 1,784,032 32, 059 366, 608 732, 621 515, 193 422, 093 20, 814 14, 789, 855 3, 224, 375 935, 147 589, 273 1, 009, 040 310, 814 72, 330 369, 540 1,804,988 1,025,804 '1,363,105 804, 590 0, 978, 724 150, 202 808, 241 22, 853 58, 768 5, 901, 245 77, 465 3, 542, 389 109,804 07, 497 2, 163, 945 (a) 426, 850 14, 581, 036 107, 314 716, 386 144, 892 1, 239, 821 379, 183 122, 926 440, 006 90, 486 577, 283 529, 304 88, 103 Paid-up and prepaid stock. .$84, 075 15, 225 80, 672 358, 004 95, 489 78, 880 17, 540 80, 108 24, 420 1,487,419 3, 383, 254 181,990 80, 373 242, 052 50, 000 101,390 116,750 38, 090 336,336 101. 547 447, 537 17, 350 6,345 33,041 285, 478 959, 686 49. 775 M31 12,162,432 59, 000 515, 334 17, 400 324, 671 14, 073 147,781 89,181 All other $05, 152 5,915 55, 152 076, 178 95, 225 37, 147 01, 826 077, 300 16, 588 533, 180 4,232 5, 438, 532 429, 395 169,807 128, 241 07,915 130, 776 68, 012 114,168 55, 900 407, 309 267, 145 131, 578 !'., 917, 674 6,304 148,420 301 2,394 887, 229 0, 056 1,351,299 2,708 785 2, 578, 761 204 40, 739 2,918,528 511 105, 818 7,452 837, 429 35, 710 12, 747 569, 902 4,335 55,151 184, 287 22, 075 Dues and 2irofita. $1,875,520 155,748 2, 873, 139 10,750,085 6, 263, 347 477, 345 1,741,047 0, 496, 248 1, 039, 383 3, 280, 587 109, 858 09,887,405 23, 033, 204 0,171,890 2, 552, 217 H,724,S09 3, 564, 818 1,375,227 11,770,024 13, 653, 330 5, 474, 146 5, 753, 100 2, 862. 177 31, 297, 331 003, 848 2,971,912 69, 734 571,093 31,620,555 308,012 28, 877, 041 944, 385 250, 533 07, 130, 721 17, 019 1,214,049 81, 560, 894 707, 121 2, 703, 590 566, 081 0, 084, 478 1,944,873 699, 232 5,188,537 298, 577 3, 348, 028 2,841,928 398,128 $1,715,637 134, 108 2, 667, 170 14, 007, 382 5, 089, 852 433, 598 1, 573, 566 5, 698, 902 1, 525, 400 2, 672, 653 105, 626 .62, 364, 322 19, 110, 844 5, 343, 969 2, 322, 020 11, 048, 086 3, 321, 103 1,301,040 10, 870, 199 13, 463, 501 4, 985, 558 4, 947, 370 2, 595, 333 24, 584, 215 465, 837 2, 793, 936 09, 433 534, 058 29, 045, 399 292, 657 20, 266, 679 824, 021 237, 367 51, 693, 301 17, 415 1,152,160 75, 305, 676 706, 610 2, 516, 082 499, 569 5, 22T, 544 1, 862, 281 627, 853 4, 127, 049 277, 964 3, 044, 041 2, 542, 301 375, 941 12, 271, 399 339, 244, 259 74, 402, 909 23, 798, 519 7,447 62, 520 37, 951 22, 904 81, 751 12, 970 52, 948 44, 618 2,625 42, 904 81, 500 27, 000 23,511 1.500 841,934 925, 838 721, 199 127, 669 30, 809 2, 333, 716 4, 139, 094 1,291,943 615, 527 17, 464 1,143,389 546, 469 286, 841 1,557,663 5, 579, 660 28, 244 179, 712 217, 291 91,112 14,501 11, 195 931, 708 813,219 .296, 293 99, 165 6,368 159, 951 104,745 40, 696 234, 380 962, 978 2,567 156, 560 81, 160 13, 780 3,197 110,140 446, 769 762, 257 321, 039 2,032 '865, 566 280, 336 225, 091 16,700 ,261,870 400 23, 420, 308 473, 137, 454 413, 047, 228 47, 299 50, 697 115,099 75, 089 1,374 563, 836 472, 102 287, 150 112, 763 10, 870 66, 643 251, 403 142, 420 89, 976 1,158,561 1,609 1,232,952 1, 337, 506 979, 747 221, 359 66, 282 4, 027, 157 5, 884, 154 2, 090, 591 1,193,112 39, 308 2, 278, 453 1, 264, 453 095, 054 1,925,719 9, 980, 580 34, 320 1,021,040 1, 143, 129 812, 311 142, 173 42, 004 3, 265, 424 4, 952, 313 1,588,236 714, 692 23, 832 1. 303, 340 651,214 327, 537 1, 792, 043 6, 542, 638 30, 811 318 REPORT OF THE COMMISSIONER OF LABOR. Table XV.— ASSETS AND LIABILITIES— Concluded. States nntl terri- tories. XATIOXAL— CCnc'd Missouri Montana Nebraska Now Hampshire New Jersey ... New York North Carolina North Dakota... Ohio Oregon Pennsylvania. . South 'Dakota . Tennessee Texas Utah Virginia "Washing-ton... West Virginia. Wisconsin Total . ALL ASSOCIATIONS. Alabama Arizona Arkansas California Colorado Connecticut Delaware Diet. of Columbia Florida Georgia Idaho Illinois Indiana Iowa ". . Kansas Kentucky Louisiana - Maine Maryland Massachusetts.. Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada NewHampshire. New Jersey New Mexico New York North Carolina . North Dakota . . Ohio Oklahoma Oregon Pennsylvania.. . Hhode Island... South Carolina.. South Dakota... Tennessee Texas Utah Virginia Washington West Virginia. . Wisconsin Wyoming Total . Total asso- cia- tions. Assets. Loans on— Ileal e3tate. Stock of Other association, securities 27 4 32 133 46 15 21 29 23 43 4 GG9 445 80 72 148 28 29 240 115 75 97 32 366 8 70 1 17 288 . 5 418 25 6 721 1 17 1,079 6 48 17 78 41 83 17 50 42 G ¥3, 797, 095 72, 273 78, 861 766, 848 67, 400 3, 605, 729 136, 750 5,800 476, 805 113,625 273, 875 925, 243 5, 671, 300 206, 394 214, 749 2, 121, 324 328, 550 49, 400 321, 185 47, 828. 799 2, 607, 536 136, 241 2, 626, 404 16, 983, 297 6, 115, 167 426, 191 1.148,460 G, 207, 794 1, 560, 745 6, 229, 820 99, 842 69,019,515 23, 907, 658 6, 543, 775 2, 158, 794 13, 097, 750 4, 300, 560 1, 278, 425 10; 734, 758 12, 073, 794 6, 809, 82S 11,747,252 2, 525, 770 32, 695, 196 521, 209 2, 560, 031 G8, 127 1, 299, 021 28, 774, 645 295, 888 30, 535, 243 1,000,079 221,348 G2, 798, 299 10, 761 1,255,950 07, 780, 929 637, 370 2, 054, 328 1, 427, 121 11,702,402 1, 848, 729 870, 100 6, 412, 876 586, 051 2, 968, 222 2, 935, 343 351, 800 $150, 179 9,973 3,712 10, 312 2,378 83, 094 1,345 3,023 3,212 2, 504 E2.416 12, 597 20, 122 70, 469 18, 832 44, 360 450 19, 617 186, 053 8,904 106, 347 451, 270 360, 991 13, 199 237, 700 119,846 -30, 180 559, 978 4,950 , 991, 275 937, 429 270, 932 51, 791 378, 494 54, 971 25, 361 326, 881 611, 470 123,681 388, 535 42, 905 C20, 805 22, 786 168, 400 18, 056 1, 154, 024 5,399 530, 275 51,132 1,035,308 42, 860 5, 404, 367 35,950 183, 683 30, 623 25, 927 72, 021 84, 570 264, 699 03, 351 139, 374 104, 620 10,211 ,956 6,398 334, 818 44, 750 16, 737 15, 192 27,150 2,000 129, 05.7 98, 091 9,379 115, 757 33, 502 758, 424 88, 854 2,750 54, 094 1,253 300 441, 490 103, 028 14,573 52,446 1,162 228, 579 2 449 100 345 079 33 363 342, 345 250, 033 000 194, 781 50, 162 357,643 183, 368 2,575 5,838 470,142,524 17,352,193 0,001,671 14,056,406 21,300,091 1528,852,885 Cash on hand. $101, 503 7,467 21, 195 4,699 170, 932 2,071 6,224 978 10, 078 68, 697 76, 795 4,019 4,878 53, 351 919 528 2,978 1, 453, 261 51,420 6,087 49, 223 238, 789 128,380 30, 425 22, 984 39, 541 56, 177 139, 923 1,222 075, 608 690, 875 170, 558 121,664 265, 490 111, 818 53, 527 436, 819 603, 208 236, 400 595, 648 90,462 521, 316 17, 810 99,848 1,088 46,200 724,892 1,740 1, 075, 429 26, 541 0,854 2, 367, 383 681 14, 837 992, 270 26, 190 G9, 167 80, 155 363, 529 82, 929 6,504 171, 864 4,098 55, 802 74, 274 2,771 All other. $460, 496 5,064 13, 621 78, 041 10, 649 264, 758 2, 608 1,500 3,601 3,872 17, 613 129, 051 452, 195 8,991 2,173 88, 638 9, 394 1,874 11,434 218, 693 4,516 74, 428 405, 04,'t 611, 406 5,530 202, 846 252, 335 49, 184 268, 260 3,844 651, 569 329, 409 290, 883 256, 586 207, 434 270, 663 17, 614 525, 330 261, 830 125, 383 2, 955, 799 230, 192 1, 775, 634 29, 353 242, 835 419 84, 212 714, 841 5,885 834, 242 9,467 29,«31 1, 0S3, 039 177 22, 0S3 443, 359 7,011 201, 031 173, 580 805, 507 130, 558 24, 222 267, 321 28, 300 54, 322 80, 330 33, 346 $1, 544, 229 87, 310 181, 651 876, 396 85, 126 4, 130, 911 142, 834 7,300 489, 653 121, 687 304, 070 1, 145, 407 6, 212, 887 239, 526 292, 269 2, 285, 871 383, 223 53, 060 355, 214 55,715,431 3, 108, 472 155, 748 2, 873, 139 IS, 093, 591 7, 243, 094 477, 345 1, 741, 047 6, 717, 607 1, 705, 665 7, 313, 744 109, 858 73, 771, 559 26, 623, 795 7, 365, 002 2, 591, 585 14, 003, 202 4, 829, 271 1, 375, 227 12, 465, 078 13, 653, 330 7, 399, 865 15, 739, 680 2, 896, 497 35, 841, 560 591,158 3, 073, 563 69, 734 1, 447, 489 31, 714, 681 308, 912 33, 008, 552 1, 087, 219 257, 833 67, 620, 374 17, 619 1, 335, 736 81, 870, 961 707, 121 2, 703, 590 1,711,488 12, 897, 365 2, 184, 399 991, 501 7, 474, 408 G81, 8C0 3, 401, 038 3,197,142 398, 128 a Included iu dues paid in on instalment shares in force. CHAPTER I. — GEKERAL TABLES. Table XV.— ASSETS AND LIABILITIES— Concluded. 319 Liabilities. Dues paid in Borrowed on instalment money. shares in force. $171,750 5,450 0,455 09, 791 44, 370 32, 000 0,052 1,050 26, 756 23, 000 70,550 3,542 707 18,238 Profits. $2, 340. 418 59, 899 82,261 233, 710 45, 803 2, 538, 480 02, 787 2, 584 348, 280 80, 277 215, 510 356, 099 2, 115, 635 175, 771 211, 578 1,111,139 324, 053 21, 093 215, 720 $628, 650 12, 118 3,854 90, 663 381 270, 575 251 11, 869 2,384 15, 769 121, 741 596, 422 36, 394 51, 136 165, 983 22, 774 5,610 52, 689 Paid-up and prepaid stock. All other. $929, 985 9,843 145, 425 14, 000 766, 203 5,677 4,423 78, 814 31, 895 67, 020 377," 066 1, 705, 268 10, 512 189, 628 28, 598 25, 650 33, 331 $473, 420 9," 078 400, 598 24,882 455, 862 42 18, 690 1,079 5,771 288, 251 1, 768, 806 10,849 6,555 748, 571 4,256 ,236 $4, 544, 229 87, 310 101, 651 876, 396 85, 126 4, 130, 911 142, 834 7,300 489, 653 121, 687 304, 070 1, 145, 407 6, 212, 887 239, 526 292, 269 2, 285, 871 383, 223 53, 060 355, 214 Dues and profits. 72, 86, 330, 46, 2, 809, 92, 2, 300. 82, 231, 478, 2, 712, 212, 262, 1, 277, 346, 26, 208, Mar- gin- al num- bor. 1,011,866 30, 759, 219 9, 976, 847 55, 715, 431 37, 020, 306 18,103 500 64, 145 ., 716, 441 420, 732 6,600 26, 775 102,494 40,131 138, 085 . 010,102 1,062,659 520, 742 15, 208 409, 660 118, 439 5,575 084, 267 17, 179 70, 129 225, 760 35, 219 2,510,661 19, 807 20, 660 1,000 811,449 10, 199 399, 768 112, 191 10, 750 734, 227 27, 202 1, 644, 298 81, 690 1,050 70, 927 29, 413 81, 632 237, 375 5,747 101,762 44, 394 112 13, 281, 265 1,909,430 92, 067 2, 075, 183 11, 376, 180 4, 626, 419 401,539 1, 206, 958 5, 093, 950 1,041,010 4, 584, 270 84, 812 51,713,561 17, 178, 412 5, 024, 349 1,750,211 11,122,429 3, 550, 758 1,228,710 10, 787, 500 11,658,513 5, 517, 357 9,163,925 1, 818, 987 19, 945, 909 375, 534 2, 067, 959 40, 680 709, 600 23,790,017 215, 192 25, 262, 770 807, 004 172, 454 49, 877, 636 17,415 805, 587 60, 940, 150 599, 296 1,799,696 711, 370 6, 103, 358 1, 658, 869 716, 505 4, 798, 182 511, 631 2, 487, 851 2, 228, 717 287, 748 1, 370, 003, 478 707, 853 42, 041 501, 987 3, 834, 331 1, 875, 744 32, 059 366, 008 747, 125 526, 388 1, 353, 801 20, 814 15, 603, 074 3, 520, 668 1, 034, 312 595, 641 , 228, 997 421, 559 72, 330 41Q, 236 1,804,988 1, 260, 244 2, 326, 083 807, 157 7, 607, 374 102, 320 812, 005 22, 853 155, 431 5, 901, 026 77, 465 3, 812, 964 109, 804 67,748 2, 175, 814 (a) 429, 234 14, 596, 805 107, 314 716, 386 266, 633 1, 836, 243 415, 577 174, 062 005, 980 113, 260 582, 893 581, 993 88, 103 240, 035 15, 225 86, 672 439, 764 109, 275 78, 880 20, 743 SO, 168 140, 560 80,664,116 1, 934, 188 4, 145, 511 503, 029 91,405 1,107,618 330, 336 326, 481 116, 75') 54, 790 2, 598, 206 101, 947 1, 377, 522 27, 193 6,345 178, 466 299, 478 1, 725, 889 55, 452 G,054 12, 241, 246 1 31, 895 765,412 2 436, 726 220, 602 27, 981 514, 299 42, 071 173, 431 122,515 33, 775, 306 112,451 5,915 55, 152 726, 875 210, 924 37, 147 01, 820 753, 295 17, 962 1,097,016 4,232 5, 910, 034 716, 545 282, 570 139, 120 134, 558 408, 179 68, 612 256, 594 55, 900 497, 345 1, 425, 706 133, 187 4, 391, 094 6,304 157,498 301 402, 892 912,111 6,056 1,807,161 2,768 827 2,597,451 204 41,818 2, 924, 299 511 103, 818 295, 703 2, 666, 235 52, 559 19, 302 1,318,563 8,591 55, 151 219,523 22, 075 3,108,472 155, 748 2, 873, 139 18, 093, 591 7, 243, 094 477, 345 1,741,047 6,717,607 1, 705, 665 7, 313, 744 109, 858 75, 771, 559 26, 623, 795 7, 365, 002 2,591,585 14, 003, 202 4, 829, 271 1, 375, 227 12, 465, 078 13, 653, 330 7, 399, 865 .15, 739, 680 2, 896, 497 35,841,560 591, 158 3, 073, 563 ■ 69.734 1,447,489 31,714,681 308,012 33, 008, 552 1, 087, 210 257, 833 07, 626, 374 17, 619 1, 335, 736 81, 870, 964 707, 121 2, 703, 590 1,711,488 12,897,365 2, 184, 399 991, 501 7, 474, 408 681, 800 3,401,088 3, 197, 142 398, 128 31,126,660 28, 852, 885 2, 737, 283 134, 108 2, 667, 170 15, 210, 511 6, 502, 163 433, 598 1, 573, 566 5, 841, 075 1, 567, 404 5, 938, 077 105,626 67, 316, 635 20, 699, 080 6, 058, 661 2, 345, 852 12, 351, 426 3, 972, 317 1, 301, 040 11, 197, 736 13, 463, 501 6, 777, 601 11,490,008 2, 626, 144 27, 553, 283 537, 854 2, 880, 054 69, 433 865, 031 29, C91, 643 292, 657 29, 075, 734 916, 808 240, 202 52, 053, 450 17,415 1,234,821 75, 536, 955 706, 610 2, 516, 082 978, 009 7, 939, 601 2, 074, 446 800, 567 5, 404, 171 624, 791 3, 070, 744 2,810,710 375, 941 450, 667, 594 320 REPORT OF THE COMMISSIONER OF LABOR. Table XVI. -CLASSIFIED OCCUPATIONS OF SHAREHOLDERS IN CER- TAIN REPRESENTATIVE ASSOCIATIONS. LOCAL ASSOCIATIONS. Classes of occupations. Accountants, bookkeepers, clerks, otc Agents, bankers, brokers, etc Artisans and mechanics Corporation officials Farmers, gardeners, etc Government officials and employes Hotel, boarding-house, and restaurant keepers. Housewives and housekeepers "Laborers Lodges, churches, and societies Manufacturers, contractors, capitalists, etc Merchants and dealers Mill and factory employes 1 Persons engage'd in tbo professions Salesmen and saleswomen Superintendents, iorenicn, etc Alabama— 2 associations. Num- Per ber. cent. Total . 8.97 1.92 7.05 3.85 1.92 2.56 .04 29.49 4.49 3.85 17.31 3.85 7. 00 2.56 3.85 100. 00 Arkansas — 3 associations. Num- Per ber. cent. 208 01 13 32 222 22 111 71 20 7.38 6.73 6.83 1.20 .92 3.04 3.51 19.19 D.63 1.20 2.95 20.48 2.03 10.24 6.83 1.S1 100. 00 California— 50 associations. Num- Per ber. cent. .')26 272 650 at 50 132 01 830 451 10 238 1,183 139 452 452 HI 9.35 4.84 11.67 .91 .89 2.35 1.09 14.70 8.07 .28 1.23 21.04 2.47 8.04 8.04 1.97 5,023 100.00 Colorado — 4 associations. Num- Per ber. cent. 42 16 58 13 4 17 7 180 67 3 18 70 16 44 19 IS 7.09 2.70 9.80 2.20 68 2.87 1.18 30. 41 11.32 .51 3.04 11: 82 2.70 7.43 3.21 3.04 100. 00 Accountants, bookkeepers, clerks, etc... - Agents, bankers, brokers, etc '. . Art'sans and mechanics Corporation officials Fanners, gardeners, etc Government officials and employes Hotel, boarding-house, and restaurant keepers. Housewives and housekeepers Laborers Lodges, churches, and societies Manufacturers, contractors, capitalists, etc Merchants and dealers Mill and factory employes Persons engaged in the professions Salesmen and saleswomen Superintendents, foremen, etc..-. Total Accountants, bookkeepers, clerks, etc Agents, bankers, brokers, etc Artisans and mechanics '. Corporation officials Farmers, gardeners, etc Government officials and employes Hotel, boarding-house, and restaurant keepers. Housewives and housekeepers Laborers Lodges, churches, and societies Manufacturers, contractors, capitalists, etc Merchants and dealers -■ Mill and factory employes Persons engaged in the professions Salesmen and saleswomen Superintendents, foremen, etc Total Connecticut— 13 associations. X um- ber. 158 24 280 8 17 27 305 99 2 128 225 797 95 113 95 2,375 Per cent. 0.05 1.01 11.79 .34 .72 1.14 .08 12.84 4.17 .08 5.39 9.47 33.56 4.00 4.76 4.00 Delaware— 3 associations. Num- ber. Per cent. 5. 45 .27 5.45 .82 9.54 1.36 1.09 22.62 16.89 4.63 2.18 13.35 9.54 4.09 1.09 1.63 Dist. of Col. - 3 associations Num- ber. 100 34 2 11 Pei- cent. 2.36 1.93 10.92 .85 1.28 19.91 1.50 21.41 7.28 .43 2.36 16.91 2.36 8.14 2.30 Florida — associations. Num- ber. 115 47 165 13 21 46 29 270 179 26 48 205 28 94 51 36 Per cent. 3.42 12.02 .95 1.53 3.35 2.11 19.66 13.04 1.89 3.50 14.93 2.01 6.85 3.71 2.02 100. 00 Georgia — 4 associations. Num- Per ber. cent. 22 142 2 5 11 0.85 4.56 29.46 .42 1.04 2.28 .42 13.07 6.64 1.04 2.28 10.37 2.07 10.17 7.88 1.45 Illinois— 140 associations. Num- ber. 1.549 078 3, 7J5 140 1,456 557 4 OS 4,496 4,215 154 796 3,325 1,448 1,991 1,188 447 482 100. 00 20, 653 100. 00 Per cent. 5.81 2.54 14.05 .53 5. 46 2.09 1.70 16.87 15.81 .58 2.99 12.47 5.43 7.47 4.46 1.68 Indiana — 14 associations. Num- ber. 73 r,ii:i n 177 75 84 639 402 '2 135 555 174 354 134 53 Per cent. 6.72 1.95 15.18 .29 4.72 2.00 2. 24 17.05 12.32 .05 3.60 14.81 4.64 9.44 3.58 1.41 3,749 100.00 Iowa — 17 associations. Num- ber. 51 28S 15 60 30 18 361 204 10 60 233 70 180 115 23 1,709 Per cent. 4.17 2.83 16. 01 .83 3.33 1.67 1.00 20.07 11.34 .50 3.67 12.95 3.89 10.01 6.39 1.28 100. 00 CHAPTER I. GENERAL TABLES. 321 Tauus XVI. -CLASSIFIED OCCUPATIONS OP SHAREHOLDERS IN CER- TAIN REPRESENTATIVE ASSOCIATIONS— Continued. LOCAL ASSOCIATIONS-- Continued. Classes of occupation Accountants, bookkeepers, clerks, etc Agents, bankers, brokers, etc Artisans and mechanics Corporation officials Farmers, gardeners, etc Government officials and employes Hotel, boarding-house, and restaurant keepers. Housewives and housekeepers Laborers Lodges, churches, and societies Manufacturers, contractors, capitalists, etc Merchants and dealers ■ Mill and factory employes Persons engaged in the professions Salesmen and saleswomen Superintendents, foremen, etc Total .' ':.. Kansas— associations. Num- Per her. cent. 24 14 105 4 18 26 4.50 2.63 19.70 .75 3.38 4.88 1.50 12.01 15.57 .75 3.00 15.01 1.31 7.51 5.44 2.06 533 1100.00 Kentucky- :ssociatzons. Num- Per her. cent. 124 40 200 1 21 21 34 241 179 C 49 257 77 G9 103 5 1,493 8.30 2.68 17.84 .07 1.41 1.41 2.28 16.14 11.99 .40 3.28 17.21 5.16 4.62 6.90 .33 100. oo Louisiana— 2 associations Num.- Per her. cent. 230 10.44 4.78 10.87 3.91 9.13 6.09 2.61 0.90 2.17 13.04 1.30 11.74 10.00 3.48 100. 00 Maine — 4 associations. Num- Per her. cent 10 6.91 2.21 16.02 1.95 ' 2.48 4.42 12.15 7.46 .28 3.04 17.68 5.25 10.22 6.91 3.04 362 100.00 Accountants, bookkeepers, clerks, otc Agents, bankers, brokers, etc Artisans and mechanics Corporation officials Farmers, gardeners, etc Government officials and employes Hotel, boarding-house, and restaurant keepers. Housewives and housekeepers Laborers '. Lodges, churches, and societies Manufacturers, contractors, capitalists, etc Merchants and dealers Mill and factory employes Persons engaged in the professions Salesmen and saleswomen Superintendents, foremen, etc Total Maryland — 31 associations. Num- ber. 200 42 728 84 121 530 644 3 100 592 260 200 130 39 3,789 Per cent. 5.28 1.11 19.21 .08 2.19 2.22 3.19 14.22 17.00 .08 2.80 15.62 7.02 5.28 3.67 1.03 100.00 Massach'tts- 10 associations. Num- ber. 54 15 119 4 47 58 213 162 1 40 121 300 00 a 32 Per cent. 3.92 1.09 8.64 .29 3.41 4.21 .43 15.46 11.76 .07 3.56 8.78 28.30 4.35 3.41 2.32 100. 00 Michigan — 7 associations. Num- ber. 78 21 161 5 39 21 22 226 59 140 150 106 01 30 1,423 Per cent. 5.48 1.48 11.31 .35 2.74 1.48 1.55 15.88 18.41 .42 4.15 9.84 10.54 7.45 6.39 2.53 100. 00 Minnesota — 5 associations. Num- ber. 47 26 308 11 10 09 17 212 375 6 38 87 41 57 68 12 Per cent. 3.97 2.2A 9.12 .93 .84 5.8a 1.44 17.91 31.67 .51 3.21 7.3S 3.46 4.81 5.74 1.01 1C0. 00 Accountants, bookkeepers, clerks, etc Agents, bankers, brokers, etc Artisans and mechanics Corporation officials . : . Farmers, gardeners, etc Government officials and employes Hotel, boarding house, and restaurant keepers. Housewives and housekeepers Laborers -,-- - - Lodges, 1 churches, and societies Manufacturers, contractors, capitalists, etc Merchants and dealers Mill and factory employes Persons engaged in the professions Salesmen and saleswomen Superintendents, foremen, etc Total H. Ex. 209 21 Mississippi— 2 associations. Num- Per her. cent. 9.34 3.98 14.51 .60 1.93 3.58 1.79 13.12 4.77 1.19 2.58 18.49 5.37 9.15 6.96 2.58 100. 00 Missouri — 15 associations. Num- ber. 313 139 458 3 33 :»5 37 338 311 11 72 315 102 213 314 37 2,731 Per cent. 11.46 5.09 16.77 .11 1.21 1.28 1.35 12.38 11.39 .40 2.64 11.53 3.74 7.80 11.50 1.35 100. 00 Montana — 1 association. Num- Per ber. cent. 75 2.67 30.67 1.33 2.67 14.67 20.00 1.33 5.33 8.00 6.67 1.33 1.33 4.00 100. 00 Nebraska — 8 associations. Num- Per ber. cent. 235 82 193 10 18 06 29 323 211 3 53 179 00 136 91 42 13. 51 4.71 11.09 1.09 1.03 3.79 1.67 18.53 12.13 .17 3.05 10.29 3.45 7.82 5.23 2.41 100. 00 322 REPORT OF THE COMMISSIONER OF LABOR. Taulk XVI — CLASSIFIED OCCUPATIONS OF SHAREHOLDERS IN CER- TAIN REPRESENTATIVE ASSOCIATIONS— Continued, LOCAL ASSOCIATIONS— Continued. Classes of occupations. N.Hamps're — New Jersey— 11 81 associations, nscociations. Sum- Per ber. cent. Num- Per ber. cent. New York — 153 associations. Num- Per ber. cent. N. Carolina — 3 ssociations. Num- Per ber. cent. Accountants, bookkeepers, clerks, etc Agents, bankers, brokers, etc Artisans and mechanics Corporation officials Parmers, gardeners, etc Government officials and employes Hotel, boarding-house, and restaurant keepers. Housewives and housekeepers Laborers Lodges, churches, and societies Manufacturers, contractors, capitalists, etc Merchants and dealers Mill and factory employes Persons engaged in the professions Salesmen and saleswomen Superintendents, foremen, etc Total.. 52 •10 404 14 77 38 BOD 46 ■1 70 287 1,021 144 260 1.70 1.31 13.22 .46 2.52 1.24 .29 16.05 1.50 .13 2.29 9.39 33.40 4.71 8.51 2.68 819 195 1.647 47 594 206 305 2,265 1,481 112 420 1,623 1,230 714 560 212 0.59 1.57 13.24 .38 4.78 1.60 2.45 18.21 11.91 .90 3.43 13.05 9.89 5.74 4.50 1.70 3,022 081 5,540 83 COO 574 542 4,543 3,220 35 912 3,514 3,106 2,067 1,705 063 9.81 2.21 17.98 .29 1.95 1.80 1.76 14.74 10.45 .11 2.96 11.41 10.08 6.71 5.53 2.15 o.eo 1.35 10.13 .*34 4.73 3.38 1.35 0.11 15.20 1.01 20.95 2.36 8.45 11.49 1.35 ,057 100. 00 12, 436 100. 00 30, 812 100. 00 100. 00 Ohio— 20 associations. Num- Per ber. cent. Accountants, bookkeepers, clerks, etc. ... Agents, bankers, brokers, etc Artisans and mechanics Corporation officials Parmers, gardeners, etc Government officials and employes Hotel, boarding-house, and restaurant keepers. Housewives and housekeepers Laborers - Lodges, churches, and societies Manufacturers, contractors, capitalists, etc Merchants and dealers Mill and factory employes Person s engaged in the professions Salesmen and saleswomen .\. Superintendents, foremen, etc Total -. 277 114 1,009 5 533 86 137 1,871 816 45 213 708 855 496 389 3.03 1.49 13.22 .07 6.98 1.13 1.79 24.52 10.69 .59 2.79 9.28 11.20 6.50 5.10 1.02 100.00 Oregon — 2 associations. Pennsylvania- Phodo Isl'd — 245 4 associations, associations. Num- Per ber. cent. 321 5.86 5.86 9.57 .93 5.25 4.94 1.24 15.74 9.88 .31 4.01 15.12 2.16 11.11 6.48 1.54 100. 00 Nnm- Per ber. cent. 1,344 407 5,359 164 705 364 556 8,050 9,055 325 846 4,219 3,654 1,700 1,100 751 3S, 509 3.48 1.05 13.88 .43 1.83 .94 1.44 20.83 23.46 .84 2.19 10.93 9.47 4.40 2.85 1.95 100. CO Nuin- Per ber. cent. 66 9 102 8 4 11 4 11.52 1.57 17.80 1.40 .70 1.92 .70 C.98 G.46 .17 3.81 13.44 15.71 7.85 3.31 G.63 100. 00 Accountants, bookkeepers, clerks, etc A gents, bankers, brokers, etc Artisans and mechanics Corporation officials farmers, gardeners, etc Government officials and employes Hotel, boarding-house, and restaurant keepers. Housewives and housekeepers Laborers Lodges, churches, and societies Manufacturers, contractors, capitalists, etc. Merchants and dealers Mill and factory employes Persons engaged in the professions Salesmen and saleswomen Superintendents, foremen, etc Total S. Carolina — 3 associations. S. Dakota— 2 associations. Num- ber. Per cent. Num- ber. 12.88 3.07 11.66 2.15 .61 2.45 .92 8.59 8.90 1.53 24.54 1.84 10.12 7.67 3.07 100. 00 Per cent. 2.44 3.49 9.76 2.44 3.48 7.32 1.05 30.31 9.06 1.39 4.18 9.70 1.39 8.01 4.53 1.39 100. 00 Tennessee — 8 associations. Num- ber. 1C0 97 191 33 38 76 36 436 133 13 110 271 82 169 163 47 2,061 Per cent. 7.70 4.71 0.27 1.60 1.84 3.69 1.75 21.15 0.45 .03 0. 63 13.15 3.98 8.20 7.91 2.28 100. 00 Virginia — 10 associations. Num- ber. SD 32 105 5 23 30 15 Per cent. 8. Co 3.46 11.35 .54 2.49 3.24 1.62 157 16.97 85 9.19 5 .54 25 2.70 195 21.08 24 2.00 54 5.81 55 5.95 45 3.78 100. 00 CHAPTER I. — GENERAL TABLES. 323 Tamlb XVI — CLASSIFIED OCCUPATIONS OP SHAREHOLDERS IN CER- TAIN REPRESENTATIVE ASSOCIATIONS— Concluded. LOCAL ASSOCIATIONS— Concluded. Classes cf occupations. Accountants, bookkeepers, clerks, etc Agents, bankers, brokers, etc Artisans and mechanics Corporation officials Farmers, gardeners, etc Government officials and employes Hotel, boarding-house, and restaurant keepers. Housewives and housekeepers Laborers Lodges, churches, and societies Manufacturers, contractors, capitalists, etc. Merchants and dealers Mill and factory employes Persons engaged in the professions Salesmen and saleswomen •superintendents, foremen, etc Total . TVashington- 1 association. Num- ber. Per cent. 7.25 1.45 23.19 7.25 7.25 11.59 1.45 1.45 17.39 10.14 5.79 4.35 1.45 100. 00 TV. 'Virginia — 6 associations. Num- ber. 00 19 213 17 110 42 20 309 164 3 45 162 54 90 50 13 1,377 Per cent. 4.30 1.38 15.47 1.23 7.99 3.05 1.45 22.44 11.91 .22 3.27 11.06 3.92 6.54 4.07 .94 100. 00 Wisconsin — 3 associations. Num- Per ber. cent. 6.91 4.17 20.49 1.39 1.04 1.74 2.78 9.03 9.38 9.03 13.54 6.94 7.29 3.12 3.12 100. 00 Total— 909 local associations. Num- ber. 10, 048 3,339 23, 148 751 4,883 2,951 2,658 28, 275 23, 378 847 710 19, 513 14, 070 10, 048 7,581 3.023 159,223 Per cent. 6.31 2.10 14.54 .47 3.07 1.85 1.67 17.76 14.68 .53 2.96 12.25 8.84 6.31 4.76 1.90 100.00 NATIONAL ASSOCIATIONS. California — 1 association. Num- ber. Per cent. Georgia. — 1 association. Num- ber. Per cent. Illinois— 1 association. Num- ber. Per cent. Indiana — 1 association. Num- ber. Per cent. Accountants, bookkeepers, clerks, etc Agents, bankers, brokers, etc * Artisans and mechanics Corporation officials Farmers, gardeners, etc Government officials and employes Hotel, boarding-house, and restaurant keepers. Housewives and housekeepers Laborers Lodges, churches, and societies Manufacturers, contractors, capitalists, etc. Merchants and dealers Mill and factory employes Persons engaged in the professions Salesmen and saleswomen Superintendents, foremen, etc ..06 13.64 3.03 1.51 4.55 1.51 28.79 9.09 6.06 10.61 9.09 4.55 1.51 198 25 64 4 100 15 127 52 2 11 126 15 21 11 10 23.16 3.18 8.13 .51 12.71 1.90 .76 16.14 6.61 .25 1.40 16.01 1.90 2.67 1,40 1.27 2.90 5.80 11.59 7.25 4.35 7.25 11 15.94 3 4.35 7 10.14 8.69 4 5.80 11 15.94 216 73 97 10 70 27" 43 258 113 2 34 239 47 55 21 28 16.20 5.48 7.28 .75 5.25 2.02 3.23 19.35 8.48 .15 2.55 17.93 3.53 4.13 1.57 2.10 Total . 100. 00 737 100. 00 69 100. 00 100. 00 Kentucky — 2 associations. New York— 5 associations. Num- Per ber. cent. Num- Per ber. cent. Penusylvania- 1 association. Num- Per ber. cent. Total— 12 national associations. Num. Per ber. cent. Accountants, bookkeepers, clerks, etc Agents, bankers, brokers, etc Artisans and mechanics Corporation officials Farmers, gardeners, etc Government officials and employes Hotel, -boarding-house, and restaurant keepers. Housewives and housekeepers Laborers - - -. Lodges, churches, and societies Manufacturers, contractors, capitalists, etc . Merchants and dealers Mill and factory employ6s Persons engaged in the professions Salesmen and saleswomen Superintendents, foremen, etc 73 37 ICO 6 122 37 32 116 70 6.24 3.17 14.20 .51 10.44 3.16 2.74 9.92 6.50 48 196 76 134 28 22 4.11 16.77 6.50 11.40 2.40 1 88 850 539 1,469 107 487 244 226 741 1,168 3 716 1,977 517 1,400 329 334 7.65 4.85 13.23 .96 4.38 2.20 2.04 0. 07 10.52 .03 0.45 17.80 4.65 12.00 2.96 3.01 26 127 5 27 14 9 153 105 9.74 2.56 12.50 .49 2.66 1.38 .89 15.06 10.33 20 143 84 59 123 17 1.97 14.07 8.27 5.81 12.60 1.67 1,442 704 1,940 139 810 345 317 1,425 1,523 7 840 2,694 743 1,680 520 412 9.28 4.53 12.48 .89 5.21 2.22 2.04 9.17 9.80 .04 5.40 17.33 4.78 10.84 3.34 2.65 100. 00 11, 107 100. 00 1,016 100. 00 15, 547 100. 00 CHAPTER II. SPECIAL TABLES 325 CHAPTER II. SPECIAL TABLES. The sixteen general tables presented and analyzed in tlie preceding chapter summarized by states and territories the facts of a more gen- eral character relating to the description and condition of the associa- tions of the eountry. In addition" to them sixteen special tables have been constructed, which give in a summary by states and territories some of the facts relating to the methods and practice of the associa- tions. The special tables as a rule relate to fewer associations than the general tables, the aim here being to give a statement that shall Be, representative rather than complete. The titles of these sixteen special tables are as follows: A. — Age of associations. B. — Frequency of issue of series. C. — Shares, shareholders, and dues ami profits. D. — Entrance fee. E. — Frequency of payment of dues. F. — Dues per share at each payment. G. — Maturing value of shares. H. — Number of shares allowed one person. J. — Votes allowed. ' K. — Transfer fee. L. — Existing real estate loans in certain representative associations. M. — Individual real estate loans in certain representative associations. If. — Interest rate charged on real estate loans in certain representative asso- ciations. O. — Average premium rate charged on real estate loans in certain representa- tive associations. P. — Loans to other than shareholders. Q. — Associations taking money on deposit. These tables will be taken up seriatim. Table A. — Age of associations, pp. 338, 339. — While building and loan associations had their birth in the decade of years from 1840 to 1850, with perhaps here and tbere one prior to 1840, it is seen by this table that the average age of all the associations is but 6.2 years, the locals having an average age of 6.3 years and the nationals of only 2.5 years. Of the locals 2,394 are under 5 years of age, 2,163 are 5 or under 10 years of age, and 589 are 10 or under 15 years of age, making a total of 5,146 associations under 15 years of age. There are 433 associations 15 years of age or over. Of the nationals 228 are under 5 years of age and only 14 over 5. These figures certainly show that the building 327 328 REPORT OF THE COMMISSIONER OF LABOR. and loan associations of the country are entirely modem institutions and Lave reached their great proportions during the last ten or fifteen years. Tabic B.— Frequency of issue of series, pp. 340, 341.— This table needs no explanation. It shows how many serial associations there are — local and national and all taken together — which issue their series monthly, quarterly, quadri-montb.lv, etc. Associations operating under the per- manent and terminating plans are omitted for reasons that will be seen by reference to the explanation of the plans on pages 22 to 24. Table G. — Shares, shareholders, and dues and profits, pp. 342, 343. — This table is intended to show the average shares per shareholder, the average instalment dues paid in plus profits on. the same per share- holder, and the average value of shares. In order to obtain a fair basis for the' averages all associations which failed to report in regard to either their shares, shareholders, or dues and profits were discarded from consideration. The dues and profits do not include the amount received for paid-up or prepaid stock, but are confined simply to the dues paid in on instalment shares in force plus the profits on the same. This element of paid-up and prepaid stock has also been eliminated from the number of shares and number of shareholders. It will be seen that the number of shares per shareholder in the local associations is 7.6 and the average dues and profits to each shareholder $302.87, while the average value of the shares is $39.71. In the nationals the average number of shares to each shareholder is 7.2 and the average dues and profits to each shareholder $86.74, while the average value of the shares is $12.12. Taking all the associations together the average shares per shareholder is 7.5, the average dues and profits to each, shareholder $257.08, and the average value of the shares $34.16. Table D. — Entrance fee, pp. 344 to 347. — This table needs but little explanation. It will be seen that the entrance fee of 25 cents per share is that most frequently determined upon. One thousand five hundred and nineteen associations, however, charge no entrance fee at all. Tabic E. — Frequency of payment of dues, pp. 348, 349. — This table shows that the majority of the associations collect their dues in weekly or monthly payments, the variation from this being very rare. Table F. — Dues per share at each payment, pp. 350 to 353. — A very large number (1,289) of associations require the payment of 25 cents per share as dues, and 1,123 require 50 cents, while 2,413 require a payment of $1 per share. The number varying from these amounts is small. Table O.— Maturing value of shares, pp. 354 to 357.— This table shows that 2,215 associations have their shares mature at $100, while 2,337 have their shares mature at $200, the variations from these tsvo sums being comparatively few. Table E. — Number of shares allowed one person, pp. 358, 359. — A large number of associations (2,341) do not limit the number of shares allowed to one person, while 1,190 associations place the limit of shares which one person can take under 25. CHAPTER II.— SPECIAL TABLES. 329 Table J.— Votes allowed, pp. 360, 361.— The associations which allow one voto to each shareholder number 2,513, and those which allow one vote to each share number 2,558. These two classes comprise all but 11 of the associations reporting as to the voting qualifications of mem- bers of building and loan associations. Table K.— Transfer fee, pp. 362 to 365.— The fees charged by associa- tions for the transfer of stock are shown in this table. One thousand one hundred and eighty-nine associations reported that tbey make no charge for such transfers, while 346 charge 25 cents, 351 charge 50 cents, and 307 charge $1 for each transaction. The associations charg- ing a transfer fee for each share transferred are shown in the second half of the table. Of these 1,380 charge 25 cents per share, while the balance vary from 2 cents to $1. Table L. — Existing real estate loans in certain representative associa- tions, pp. 366, 367.— This table deals with 2,173 associations only. It shows the number of existing loans on real estate for that number of associations; also the original amount of such loans and the largest and smallest loan. The figures given show the original amount of loans, undiminished by partial payments on the same, and although less than one-half of the total associations have been considered as regards the facts shown in this table, it is believed that the showing is fairly representative of all the associations in the country. The table shows that the 2,173 associations which reported the value of existing loans on real estate had 164,627 such loans, with a total original amount of $184,404,322; the largest loan being $100,000, the smallest $5, and the average $1,120. The classification of the loans is shown in — Table M. — Individual real estate loans in certain representative asso- ciations, pp. 368 to 371. — This table is designed to show the size of the loans usually made to individual borrowers. A number of the repre- sentative associations reporting the amount of each of their real estate . loans to shareholders have been used and the loans classified according to the size. The chief object of this table was to show whether the building and loan associations of the country have been used by small or large borrowers; whether the loans have been made in small sums for the purpose of helping the ordinary man, or in large sums to aid capitalists in the erection of buildings, etc. Taking the totals, which include both local and national associations, we find that 532 associa- tions made report as to 36,821 individual loans. It is found that there are only 664 loans out of the 36,S21 the original amounts of which were over $5,000 each. This is 1.8 per cent of all the loans existing in 532 associations. This is an exceedingly gratifying showing, and leads to the conclusion that the associations are being conducted in the interest of men of small means. There have been comparatively few associa- tions making loans of over $7,500 each. In some instances the Depart- ment has learned of loans to the amount of $50,000 or more — even up to the amount of $100,000 in one case— but these have been rare, and 330 REPORT OF THE COMMISSIONER OP LABOR. are mads by associations that are composed -very largely of merchants and business men generally. Table W. — Interest rate charged on real estate loans in certain repre- sentative associations, pp. 372 to 375. — By this table it will be seen that C per cent is the prevailing rate of interest, but 388 of those reported falling below and but 377 going above that rate. Table 0. — Average premium rate charged on real estate loans in certain representative associations, pp. 376 to 379. — This is a companion table to'Table 1ST. The majority of associations charge a premium on loans in addition to interest. Two methods of doing this prevail (a). Under the first the borrower receives the full amount of the share or shares on which the loan is made, and pays the premium in instalments, with the interest. For the sake of uniformity this has been reduced to the rate per cent per annum in this table. Under the second method the borrower receives the amount of the share or shares on which the loan is made less the premium charged, the gross amount of which is deducted in advance, interest, however, being charged on the face of the loan. In the table the associations using this method are tabulated under the head gross. These facts were secured from but 1,704 associa tions, yet they are believed to be fairly representative of the entire number. The interest and premium charges enable us to ascertain the cost of a loan to the borrower, and also to consider the question of whether loans secured through building and loan associations are more or less economical to the borrower than those secured from savings banks or private capitalists. In order to illustrate this interesting question we have made an analysis showing the comparative cost to the borrower of a loan of $1,000 from a representative building and loan association and from a savings bank, both in the state of Massa- chusetts. A building and loan association has been selected which has matured several series of shares, the maturing period being in each case 133 months. The comparative results have been shown under the lowest, highest, and average premium rates charged by this association upon the loans in existence at the end of the fiscal year reported to the Department. The practice of the association was to charge upon each $200 share dues of $1 per month, interest of $1 per month, and such monthly premium as might be bid. These payments are made for 133 months, when the shares mature and the loan is satisfied. A loan of the same amount, principal payable at the end of 133 months, interest at the rate of 5 per cent per annum payable semi-annually, is made from a savings bank. We will suppose the borrower to deposit in the savings bank each month a sum equal to that which is paid into the building and loan association. From this sum he will require $25 semi-annually on each $1,000 to meet the interest payments. The balance he allows to remain in the savings bank to create a fund to pay off the principal of the loan at the end of the 133 months. At the end a A full description of all the premium plans will he found in Chapter III. CHAPTER II. SPECIAL TABLES. 331 of each, six months he is credited with a dividend of 2J per cent on all sums which have been on deposit for six months preceding, or 1 J per cent on all sums which have been on deposit for three months preceding. The results under the above conditions are as follows: BUILDING AND LOAN ASSOCIATION — LOWEST PREMIUM RATE. Cost of a loan of $1,000 from a building and loan association in Massa- chusetts with dues at $5 and interest at $5 per month— no premium being charged — running to the maturity of the shares, 133 months, $1,330. In this case the borrower pays in cash — Dues at $5 per month, for 133 months $665. 00 Interest at $5 per month for 133 months 665. 00 Premium Total cash, paid 1,330.00 SAVINGS BANK. A loan of $1,000 is secured from a savings bank at the interest rate of 5 per cent per annum payable semi-annually, principal payable at the end of 133 months. The borrower deposits in the savings bank each month a sum equal to the above amounts paid into the building and loan association. From this sum he will require $25 each six months to meet the semi-annual interest payments. His account at the end of 133 months is then as follows : Deposits, $10 per month for 133 months $1,330.00 Less -withdrawals to pay interest on loan, $25 each six months for 133 months --- 554.17 Deposits remaining in hank at end of 133 months 775. 83 Add dividends credited semi-annually 262. 28 Balance in hank at end of 133 months 1,038.11 But this balance in bank is $38.11 more than is required to pay off the principal of the loan. Iu this case then the same payments which are required to pay for a loan of $1,000 from the building and loan association at its lowest pre- mium rate would have paid for the loan from the savings bank and left a cash balance of $38.11. BUILDING AND LOAN ASSOCIATION — HIGHEST PREMIUM RATE. Cost of a loan of $1,000 from a building and loan association in Mas- sachusetts with dues at $5, interest at $5, and premium at $3 per month, running to the maturity of the shares, 133 months, $1,729. In this case the borrower pays in cash — Dues at $5 per month for 133 months $663.00 Interest at $5 per month for 133 months 665 - 00 Premium at $3 per month for 133 months 399- 00 Total cash paid 7. h 729 - 00 332 REPORT OF THE COMMISSIONER OF LABOR. SAVINGS BANK. , A loan of $1,000 is secured from a savings bank at the interest rate of 5 per cent per annum payable semi annually, principal payable at the end of 133 months. The borrower deposits in the savings bank each month a sum equal to the above amounts paid into the building and loan association. From this sum he will require $25 each six months to meet the semi-annual interest payments. His account at the end of 133 months is then as follows: Deposits, $13 per mouth for 133 mouths . $1,729.00 Less withdrawals to pay interest on loan, $25 each six months for 133 months 554. 17 Deposits remaining' in hank at end of 133 months 1, 174. 83 Add dividends credited semi-annually 391. 20 Balance in hank at end of 133 months 1, 566. 03 But this balance in bank is $566.03 more than is required to pay off the principal of the loan. In this case, then the same payments which were required to pay for a loan of $1,000 from the building and loan association at its highest premium rate would have paid for the loan from the savings bank and left a cash balance of $566.03. BUILDING AND LOAN ASSOCIATION — AVERAGE PREMIUM RATE. Cost of a loan of $1,000 from a building and loan association in Mas- sachusetts with dues at $5, interest at $5, and premium at $0.78 per month, running to the maturity of the shares, 133 months, $1,433.74. In this case the borrower pays in cash — Dues at $5 per month for'133 months $665. 00 Interest at $5 per month for 133 months 665. 00 Premium at $0.78 per month for 133 months 103. 74 Total cash paid 1,433.74 SAVINGS BANK. A loan of $1,000 is secured from a savings bank at the interest rate of 5 per ceut per annum, payable semi-annually, principal payable at the end of 133 months. The borrower deposits in the savings bank each month a sum equal to the above amounts paid into the building and loan association. From this sum he will require $25 each six months to meet the semi-annual interest payments. His account at the end of 133 months is then as follows : Deposits, $10.78 per month for 133 months $1, 433. 74 Less withdrawals to pay interest on loan, $25 each six months for 133 months 554. 17 Deposits remaining in hank at end of 133 months .* 879.57 Add dividends credited semi-annually 295.78 Balance in hank at end of 133 months 1, 175. 35 But this balance in bank is $175.35 more than is required to pay off the principal of the loan. CHAPTER II.— SPECIAL TABLES. 333 In this case, then, the same payments -which were required to pay for a loan of $1,000 from the building and loan association at its average premium rate would have paid for the loan from the savings bank and left a cash balance of $175.35. Table P. — Loans to other than shareholders,^. 380, 381.— By this table it is seen that only 76 out of the 2,245 associations reporting have loans to other than shareholders, and that they have 2,056 such loans existing, the aggregate value of -which is $2,328,621, being an average of $1,133 for each loan. These figures prove conclusively that the associ- ations adhere very closely to the rule of making their loans to share- holders only. Table Q. — Associations talcing money on deposit, pp. 383, 383. — Building and loan associations are not banks of deposit, yet we find 641 taking money on deposit, and the table shows the varying rates of interest paid on such deposits, the prevailing rate being 6 per cent. THE DAYTON PLAN. Among the managers of building and loan associations the so-called "Dayton plan" is fairly well known. Yery many consider it a model plan, and have suggested that it be incorporated in this report, that all interested in the conduct of building and loan associations may be able to use it should they desire. Mr. A. A. Winters, general manager of the Mutual Home and Savings Association of Dayton, Ohio, has very kindly furnished the Department with the following statement: The so-called Dayton plan of conducting building associations is not anybody's invention. It is a growth; the growth of twenty years. Hence, it has not been the same in any two successive years. I will therefore confine myself to the plan as it is now in operation, leaving entirely out of account what it has been. As the developments and changes which have made up the Dayton plan have mostly originated in the Mutual Home and Savings Association of Dayton, Ohio, I will also confine myself to the plan as practised by that association. In the first place it must be noted that the plan is applicable to per- manent associations only, and can not be applied to either terminating or serial associations. The plan differs from other plans in four main particulars, besides some minor ones. First. New members may join at anytime without paying back dues. Second. Paid-up stock is issued. Third. Premium is entirely abolished, each member being entitled to borrow money in the order of his application at such rate of interest as the board of directors may from time to time fix. Fourth. Earnings are not only ascertained and divided semi-annu- ally, but when credited are subject to withdrawal the same as money payments. I will take them in their order. As a preliminary observation, how- ever, I might say that the main object of all these changes has been to simplify methods and to enable the association to more easily adjust itself to the situation and needs of the various people with whom it deals. All the older plans are more or less iron-clad. Very little attempt 334 REPORT OP THE COMMISSIONER OP LABOR. is made at elasticity or to accommodate the individual member; on the contrary, the member is required to adjust himself to the association. He must join not when he wants to, but when he can. He can not pay his money in when he gets it, but when the association is ready to take it. If he wants to borrow money the association, through the medium of premium ascertained by competitive bids, so complicates matters that he is wholly unable to calculate the rate of interest he is to pay, and finally, if through misfortune or sickness he is compelled to quit before his shares mature, his rights are enveloped in mist, and he is generally compelled to suffer a forfeiture which embitters him ever after. First. A member may join at any time. This is accomplished by sub- stantially making each man's stock a separate series. The theory oi this is plain enough, the difficulties which suggest themselves being merely the keeping of the books and the division of earnings, both of which will be explained later on. Second. Paid-up stock is issued. This is a decided innovation. The old theory being that in all cases when stock matured the member was paid in cash and the stock cancelled. It is not issued at all times, but only when the society can profitably loan the money. It may be called in also if a glut of money occurs. It is entitled to share in the earn- ings like other stock, but dividends when declared, instead of being credited on the book as in the case of running stock, are paid in cash. It may also be withdrawn the same as running stock. In fact, barring the fact that it pays no dues and receives dividends in cash, it has sub- stantially the same rights and liabilities as running stock. Paid-up stock, however, is an exceedingly useful adjunct to a build- ing association. It gives the association command of a large additional amount of money to loan and thus reduces the rates to borrowers. This class of stockholders is also a little steadier than the book-holders. They are not so easily panicked, nor are they so needy as to require their money at once in case of a stringency in finance or a business depression. Paid-up stock is also a sort of financial regulator to an association. When money is too plenty, not being obliged to issue it, the doors are closed and a large source of supply is thus shut off. If this does not suffice even outstanding stock may be called in. When, however, the demand for money becomes greater than the supply, paid-up stock being a favorite investment, the association has but to open the gates and money pours in until the equilibrium is restored. By these means the idle cash balance of the association is kept continually small, and yet all really desirable loans can be made, and all other demands promptly met. It must not be supposed, however, that this paid-up stock is held entirely or even largely by capitalists. On the contrary, it is held almost entirely in small sums by the more frugal element in the working classes. In the annual report of the association heretofore referred to, made on January 1, 1893, 2,411 persons appear as holding $867,700 of this stock, or an average of $359.£9 per person, while of the whole 2,411 certificates outstanding, 822 were for $100 only. Third. Probably the most pronounced difference, however, between the Dayton plan and others is in the method of loaning money. Instead of selling at auction to the highest bidder in open meeting the right to borrow money, it is loaned to members at a rate of interest fixed by the board of directors, on the principle of " first come, first served." The following is a copy of the contract signed by the' borrower, which I think will largely explain itself. ( Por convenience I make it a loan of CHAPTER H. SPECIAL TABLES. 335 $100, and suppose the rate of interest agreed upon is 13 cents per week) : " 1100.00. Dayton, Ohio, " Received as a loan from the Mutual Home and Savings Association, of Dayton, Ohio, the sum of one hundred dollars, which sum I agree to repay with -^ dollars per week interest thereon, payable weeldv, as follows: ->i ■ " I hereby subscribe for one share of stock in said association, of one hundred dollars each, book No. 34,64=1, and I agree to pay to said asso- ciation weekly, not less than the sum of t %% dollars, which sum is to be applied as follows: " First. To the payment of any fines, insurance, taxes, or other assess- ments made against me in accordance with the bylaws of said associa- tion. u Second. To the payment of the interest due on said loan. " Third. The balance of said amount to be applied toward the payment of my said stock subscription. Said weekly payments shall be con- tinued until said stock is fully paid up by the payments applied thereto as above stated, and the dividends declared thereon. I also hereby assign the stock aforesaid to said association as collateral security for said loan, and I authorize it, when said stock is fully paid up, or should I fail for eight weeks to make the payments above stated, at its option to withdraw said stock in accordance with the bylaws of said associa- tion, or any or all of the money paid thereon, and apply the amount withdrawn to the payment of said loan, or the interest thereon, or any of the assessments above stated. " Should any part of said loan or the interest thereon or any of said assessments remain unpaid after the withdrawal value of said stock is so applied, they shall become due and payable at the option of said association. Signed : ."" It will be seen that the loan, so far as it is concerned, is a plain loan at a definite rate of interest, and that the stock which the borrower subscribes for is used as a sort of sinking fund in which to accumulate the money with which to pay the loan. When the money in the fund is sufficient to pay the loan — that is, when the*stock matures — the money is transferred from the stock to the loan and the latter is cancelled. While the money is being accumulated on the stock it is entitled to its share of the earnings just as other stock. It will be observed that the required weekly payment is even 25 cents on each share of $100. The borrower does not pay as in the old asso- ciations 25 cents as his dues and an additional sum for interest, fines, etc. Twenty-five cents per week pays the whole bill. The interest, etc., is taken out of it and the balance, whatever it is, becomes a credit on his stock. No matter what rate of interest is agreed upon or what fines or other assessments are made, the weekly payment remains the same. The rate of interest merely shortens or lengthens the time it will take to mature the stock and cancel the loan. A borrower there- fore knows exactly what he has to pay from the start to the finish. You will observe also that the weekly payment required is a minimum payment. The borrower may therefore pay as much more as he is able. Whatever payment he makes draws dividends and shortens the time in which his loan will be paid up. It is not expected that every bor- rower will simply pay the required clues. The minimum payment is made as low as is consistent with safety, and the field is left open for 336 REPORT O? THE COMMISSIONER OF LABOR. each man to pay off his loan as soon as he can. He may, therefore, pay it up in five years, or one year, or even in one week, if he wishes. For the same reason he may pay off his loan at any time whatever. The minimum payment only being fixed, he may pay at the time the whole balance due on the loan and have it cancelled, paying interest ^of course only up to the date of cancellation. A borrower may also, at any time, pay up one or more of his shares, and have the amount credited on his loan and interest stopped to that extent. Fourth. As to the distribution of earnings : Under this plan it is a very simple matter. Every six months the earnings are ascertained. As they consist almost entirely of interest paid, this is soon done. Out of this first comes the expenses. Then the Ohio law requires that 5 per cent be set aside to a fund out of which all losses are paid (when, however, this fuud reaches 5 per cent of the outstanding loans this is no longer required). The balance is then divided among all the members iu proportion to the amount standing to the credit of each member. The amount standing to the member's credit at the begin- ning of the six months, unless since withdrawn, is the basis of the dis- tribution, but an allowance is also made to members on the required payments made since that time. On all running stock this dividend is credited to the member's account, and thereafter is regarded just the same as money paid. On all paid-up stock the dividend is paid in cash. The exact money value of each man's stock being thus ascertained at the close of each six months, the matter of withdrawals is also made easy. The amount in the loss fund represents the risk in the outstaud- ing loans. Every man's account is therefore worth its face. He is, therefore, allowed to withdraw any or all of the amount standing to his credit, dividends and all, by giving two weeks' notice, provided the money is in the treasury. If it is not, his notice is filed and ho is paid in his order as fast as the money comes in. It will be further observed that in the above method of ascertaining and dividing the earnings the number of shares a man holds cuts very little figure. The money paid in on them is the basis of the calculation for dividends. This has a most important side effect. The money, actually paid in by a member, not what he ought to have paid, as in the older plans, is the basis of dividends. It is, therefore, no longer necessary to insist that a. member, not a borrower, should make the payments his shares call for. No attention is, therefore, paid as to whether a non-borrower pays up or not. If he does not it is his own affair ; nobody but himself is the loser. Neither are fines ever assessed on the non-borrower. No attention is paid to him except to adj ust his dividend in accordance with his payments. The effect of this has been surpris- in g. Nobody can estimate the number of people who have been deterred from joining building associations by the fear that they might not be able to keep up their payments after they were in, and would be fined and otherwise mulcted in consequence. They were the very best and most prudent people, too. The ignorant and the thoughtless may be induced to assume burdens which they are not sure they can carry, but the intelligent and the thoughtful will hesitate. At any rate this fact, together with the ease and certainty with which money may be with- drawn, and also the further fact that no initiation fee is required, has led to a regular stampede to join building associations in the city of Dayton. Over 10 per cent of all the people in the city, men, women, and children, belong to this one association alone, and there are a num- ber of other good associations &lso. The popularity of these associations in Dayton can not be better CHAPTER H. SPECIAL TABLES. 337 illustrated than by comparing the population of the city with the num- ber of members of the various associations. The population of the city in 1890 was 65,500. It has been growing rapidly since, but an outside estimate would hardly give it over 80,000. The membership in the various associations on January 1, 1893, was 19,886. Of course in a few instances the same person is a member of more than one association, but, nevertheless, the figures are almost startling. Probably more people belong to such associations in the city of Dayton in proportion to its size than in any other city in the world. The rule as to fines need not be so strictly enforced even against bor- rowers as is necessary under the old plans. The borrower gets credit for only what he pays, and if the security is ample the society suffers no pecuniary loss if he does not pay promptly. Consequently, hues are seldom assessed to any great extent. The association before named collected only $100.30 in tines in 1892, although its gross receipts were over $1,S00,000. It only remains for me to answer some queries which will naturally arise -as to the bookkeeping. It is undoubtedly true that in small asso- ciations the labor of keeping the books is somewhat increased under this plan, as an individual ledger account must be kept with each member. On the other hand the books are ever so much better even in a small association, and it is wholly impossible to keep correct books in an asso- ciation of any size under the old plans. It is almost impossible to give any satisfactory explanation of the methods of bookkeeping in any reasonable space. They must be seen to be understood. In general, however, a weekly payment journal similar to those always in use is kept, in which is entered all payments in the proper column for the cur- rent week and opposite the name of the member. It is ruled to last six months, and at the end of that time the amount paid is transferred or posted to the individual account of the member in the ledger. There is, however, this difference: The weekly payment of the borrower is not separated into dues, interest, lines, etc., in this journal. Only the bulk sum paid is entered. The interest, tines, etc., are charged every six months to the borrower's individual account in the ledger, and when, at the end of the six months, the bulk sum of his payments is also posted to his account, a balance is struck. This is an enormous saving in bookkeeping and in handling cash. The weekly payment is the same for both borrower and non-borrower, being 2 > cents on each share of stock. It is even money also, and avoids the handling of much small eh ange as is necessary when the payment is separated each week, the interest nearly always comprising odd cents. The semi-annual dividend is credited to each man's account in the weekly journal as the first pay- ment of the six months. Of course many other minor details are not touched upon, but they are only such as would naturally suggest them- selves to a bookkeeper. In a large association a greater subdivision of accounts can be made, each with its appropriate book, and intricacy be thus further avoided. The special tables lettered from A to Q, inclusive, which have been analyzed in the preceding portion of this chapter, immediately follow: H. Ex. 209 22 338 REPORT OF THE COMMISSIONER OF LABOR. Table A AGE OF ASSOCIATIONS. Total asso- cia- tions. Asso- cia- tions re- port- ing. N umber of associations of each specified ago. States and territories. Under 5 years. ' 5 or under 10 years. 10 or under 15 years. 15 or under 20 years. 20 or under 25 years. 25 or under 30 years.. 30 years or over. -Average age. LOCAL. 23 4 32 125 42 15 21 26 21 31 4 631 429 81 71 131 26 29 237 115 72 82 30 349 66 1 16 286 5 3B0 24 5 718 1 14 1,076 6 48 14 61 39 5 76 14 54 39 6 4 32 121 42 15 21 26 21 31 4 631 427 81 71 131 26 29 236 115 72 82 30 349 06 1 10 280 5 390 24 5 715 1 14 1,065 6 47 14 61 39 5 76 14 51 39 e 9 3 35 77 17 13 8 13 16 3 214 215 34 16 45 5 16 75 58 37 16 17 181 2 18 1 15 95 3 251 13 250 1 10 412 5 24 5 24 21 2 45 9 31 17 5 13 1 14 35 23 1 5 8 7 12 1 323 165 24 52 65 19 13 84 31 35 34 10 155 5 40 1 5.3 4.0 3 5 2 1 3 9 1 1 7 1 1 1 1 1 5 • 5-|:::::::: 15.7 7.5 District of Columbia. . i 1 1 i 81 13 12 3 19 2 11 3 9 2 1 2 5 8 1 1 32 21 26 5 17 2 S.3 5.7 Massachusetts Michigan 4.3 18 1 12 12 1 2 2 Montana 5 6 2 1 112 2 114 8 4 277 2.2 24 21 25 G, a'i 8.6 i. 6 New Mexico New York ...^ 20 3 1 149 - 4 1 4.4 North Carolina 5.3 North Dakota 7.4 Ohio 33 5 1 G.8 Oregon 3 326 19 8 23 10 1 21 5 19 19 1 1 123 1 3 1 7 2 2 6 105 77 10 60 8.1 Rhode Island South Carolina 1 5.1 South Dakota 5.8 Tennessee 5 2 Utah | "Virginia 1 | I 3.6 4.7 "West "Virginia 2 2 1 1 1 J I Total 5,598 4 8 4 3 2 12 38 Hi 8 1 17 2 3 3 15 17 1 4 1 5,579 4 8 4 3 2 12 38 16 8 1 17 2 3 3 15 2 17 1 4 1 2,394 4 7 4 3 2 12 37 16 8 1 17 2 3 3 7 2 16 1 4 2,163 589 250 143 | 31 9 6.3 NATIONAL. California , 1 1 2.8 District of Columbia. . Florida 2.8 2.2 2.1 2.4 2.0 2.1 1 Kentucky Louisiana 2.3 3.0 4.7 Michigan 8 Mississippi Missouri 1 1.9 3.0 2.5 5.0 i a Ono 30 years, one 33 years, and ono 38 years. b One 30 years, one 33 years, one 35 years, one 37 years, ono 38 years, and ono 42 years. CHAPTER II. SPECIAL TABLES. Table A.— AGE OF ASSOCIATIONS— Concluded. 339 Total asso- cia- tions. Asso- cia- tions re- port- ing. Number oJ associations of each specified age. States and territories. "Under 5 years. 5 or under 10 years. 10 or under 15 years. 15 or under 20 years. 20 or under 25 years. 25 or under 30 years. 30 years or over. A.vcrag3 age. national— concluded . 2 28 1 1 3 3 3 3 17 2 1 7 3 2 3 2 28 1 1 3 3 3 3 17 2 1 7 3 2 3 2 27 1 1 3 3 3 3 17 2 1 7 3 2 2 2.0 1 2.0 3.0 ' 1.0 Ohio 1.7 2.7 1.3 3.0 2.4 2.5 Utah 1.0 2.3 3.0 2.0 1 4.0 Total 240 240 226 14 2.5 ALL ASSOCIATIONS. 27 4 32 133 40 15 21 29 23 43 4 669 445 89 72 148 28 29 240 115 75 97 32 366 8 70 1 17 288 5 418 25 G 721 1 17 1,079 48 17 78 41 83 17 30 42 27 4 32 132 46 15 21 29 23 43 4 669 443 89 72 148 28 29 239 115 75 97 32 366 8 '70 1 17 288 5 418 25 718 1 17 1,068 6 47 17 78 41 83 17 56 42 6 13 3 15 81 21 13 2 11 15 28 3 251 261 42 17 62 7 16 78 58 40 23 IS 197 3 22 1 15 97 3 278 14 1 253 1 13 415 5 24 8 41 23 3 52 12 33 19 5 13 1 14 36 23 1 5 8 7 12 1 324 165 24 52 65 19 13 84 31 35 42 10 156 5 46 1 4.9 4.0 3 5 o 1 3 1 1 4.9 7 4.5 4.8 3.3 1 1 5 5 15.7 7.0 3.8 1 1 4.7 3.8 81 13 12 3 19 2 11 3 9 2 1 2 5.8 4.4 6.8 5.8 1 1 5.7 5.8 3.7 32 21 26 5 17 2 I 8.2 Massachusetts 5.7 . ' 1 4.2 18 1 12 12 1 2 2 1 8.1 1 5.6 1 4.5 5.3 2 5.3 4.0 New Hampshire 2 112 2 115 8 4 277 2.4 24 21 25 93 8.6 4.6 20 3 1 149 4 1 4.3 North Carolina North Dakota 5.2 1 6.3 33 5 1 6.8 1.0 3 326 19 8 23 16 1 24 5 19 20 1 1 123 1 3 1 7 2 2 C 4.0 103 77 16 &6 8.1 4.2 Sonth Carolina 1 5.1 5.3 5 2 5.9 4.5 5.7 Virginia 1 4.4 3.5 West Virginia 2 2 1 1 1 4.5 5.0 3.0 Total 5,838 5,819 2,620 2,177 589 250 143 31 9 6.2 a One 30 years, one 33 years, and one 38 years. b One 30 years, one 33 years, one 35 years, one 37 years, one 33 years, and one £3 years. 340 REPORT OF THE COMMISSIONER OF LABOR. Table B.— FREQUENCY OF ISSUE OF SERIES. [This tabje includes serial associations only, those operating under the permanent and terminating plans having been omitted tor reasons that Will he seen by reference to the explanation of the plans on pages 22 to 24.] States and territories. Month- ly. Quar- terly. Quadri month- iy- Semi- annu- ally. An- nual- iy- Bien- nial- iy- Ir- regu- larly. Xot report- ed. Total serial associ- ations. LOCAL. 1 1 3 2 1 4 17 32 9 2 3 10 11' 8 3 134 123 24 45 34 20 7 3 10 15 43 18 144 3 44 1 G 3G 5 4 18 2 21 17 4 1 32 4 4 3 2 2 2 33 8 3 11 1 5 17 10 1 1 25 120 x ! 31 10 i 19 14 1 2 14 1 i 14 i 3 1 1 223 3 G 5 103 13 8 73 2 13 2 2 Gl 8 5 013 152 57 47 1 2 i 2 1 14 1 00 27 G 11 1 38 1 1 1 4 2 24 3 29 5 4 13 1 1 8 115 3 2 2 1 47 78 1 4 1 2 1 01 1 5 28 19 1 3 1 241 6 5 59 1 1 6 33 2 33 15 4 5 1.16 4 251 5 4 1J 1 57 1 20 25 5 130 24 i 3 5 Ohio M- 4 2G 1 1S1 4 1 57 1 8 75 1 13 10 23 li 3 G 8 18 15 2 10 1 28 i 351 7 703 G 1 14 1 5 2 3 2 1 1 2 14 1 5 j 10 55 17 Utah L . 1 1 5 Virginia 1 1 ..... 3 3 11 11 23 4 2 30 2 Total 31 331 8 G35 727 14 328 1,004 3,168 NATIONAL. 1 2 o 1 2 1 3 2 1 i 10 24 1 2 i 1 11 1 ; i i 2 i 1 2 1 1 1 7 1 7 1 a 3 3 1 1 1 1 1 1 3 1 1 11 1 1 11 1 1 1 G 1 6 CHAPTER II. SPECIAL TABLES. Table B.— FREQUENCY OF ISSUE OF SERIES— Concluded. 341 States and territories. Month- ly. 1 Quar- terly. Qnauri- jnontli- Semi- annu- ally. An- nual- Bien- nial- ly. Ir- regu- larly. - Not report- ed. Total serial associ- ations. NATIONAL — concluded ■ 1 Ohio :;:::::: 1 1 i 2 5 I 2 10 2 1 2 1 1 1 15 2 Utah > 1 1 1 1 1 1 3 1 2 i 2 2 Total 79 i 58 138 1 ALL ASSOCIATIONS. 2 i 3 2 1 10 4 17 ;o 2 3 10 11 9 3 145 124 24 46 41 21 7 3 10 15 46 18 155 4 45 1 36 5 4 18 2 21 19 4 1 "3 4 •1 3 2 2 2 33 8 3 11 1 5 17 10 1 1 25 2 2 7 1 123 33 10 19 14 1 2 14 11 1 25 3 31 2 3 228 3 G 5 103 15 8 73 2 13 2 2 01 8 5 648 154 59 48 7 1 1 2 4 2 1 11 1 90 27 11 1 52 1 1 1 4 2 G 26 3 29 3 8 4 12 1 1 8 115 6 5 2 1 50 84 1 4 1 2 1 01 1 5 28 10 1 3 1 252 7 5 CO 1 1 6 33 2 33 15 5 5 136 4, 252 5 10 1 10 1 57 1 29 25 5 136 25 3 5 1. 4 26 1 181 4 1 57 1 9 75 1 13 10 33 16 4 8 19 16 2 11 2 28 354 7 704 6 1 2 C 14 1 5 2 3 2 1 1 2 16 5 10 70 19 ,7".® x *j s 1 I 6 2 1 1 1 1 14 3 3 3 13 2 25 4 2 32 2 110 | 832 8 I 665 | 727 11 328 1,122 3,306 342 REPORT OF THE COMMISSIONER OF LABOR. Table C— SHARES, SHAREHOLDERS, AND DUES AND PROFITS. [This table relates to instalment shares only.] States and territories. LOCAL. Alabama Arizona Arkansas California Colorado Connecticut Delaware District of Columbia. Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentucky .Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada, N«w Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Khode Island South Carolina South Dakota Tennessee Texas Utah Virginia Washington "West Virginia: "Wisconsin "Wyoming Total «!ATIOMAL. Alabama California Colorado District of Columbia Florida Georgia Illinois Indiana Iowa Kansas Kentucky Louisiana Maryland Michigan Minnesota Mississippi Missouri Montana Nebraska New Hampshire New Jersey New York Total asso- cia- tions. 23 4 22 125 42 15 21 26 21 31 4 631 429 81 71 131 20 20 237 115 72 82 30 349 7 00 1 10 280 5 390 24 5 718 1 14 ,076 6 48 14 61 39 5 70 14 04 39 6 Shares, shareholders, and dues and profits. Asso- cia- tions report ing. 23 4 31 125 40 15 20 26 21 31 4 626 J 20 79 69 128 26 28 232 115 71 82 29 347 7 64 1 16 285 5 380 24 5 712 1 14 1,063 6 48 14 60 39 5 76 14 54 5,53"5 Number of share- holders. 3,882 391 5,980 24, 488 8,619 3,222 2,969 17, 025 3,393 4, 81S 345 174, 153 88, 766 22, 125 7, 265 33, 621 7,166 6,737 51,237 53, 953 19, 837 12,751 5,299 50, 073 891 7,675 211 4,193 85, 698 707 109, 246 4,611 571 231,618 142 2,093 233,655 2,223 4, 384 1,361 12,437 4,931 1,413 13,154 802 9,390 9,444 472 4,539 5,681 0,651 4,574 475 26, 476 51, 885 19,169 8,900 890 22, 100 8,030 10, 988 9,780 34, 877 201 33, 673 960 1,385 4,000 1,343 39, 414 Nnmber of shares. 130, 559 4,179 278, 067 309, 928 90, 834 18, 266 18, 446 122, 054 29, 130 36, 845 3,772 2, 185, 455 440, 165 138, 869 50, 685 166, 340 53,770 33, 472 291, 796 366, 100 176, 583 205, 368 49, 134 385, 901 10, 326 43, 500 1,484 20, 559 560, 038 5,769 969, 606 31,465 13,413 997, 528 901 16, 760 1,543,381 17,331 34, 897 9,973 111,435 34, 180 18,250 111,480 0,471 03, 501 75, 746 7,480 10,291,210 80, 208 71,685 81,741 22, 955 3,104 ' 187, 245 437, 007 105,691 52, 126 1,590 141, 547 57,521 51, 362 43, 633 283, 951 1,334 79, 298 12,156 6,924 34, 847 15, 508 299. 953 Dues and profits. $1, 715, 037 134, 108 2, 664, 243 14, 067, 382 5, 655, 698 433, 598 1, 527, 192 5, 698, 902 1,525,400 2, 672, 653 105, 626 62, 086, 468 18, 132, 098 5, 071, 961 2, 309, 598 10, 938, 815 3, 321, 103 1, 170, 460 10,638,037 13,463,501 4,919,713 4, 947, 370 2, 550, 300 24, 572, 803 465, 837 2, 743, 909 69, 433 534, 658 29, 577, 837 292, 657 26, 054, 415 824, 021 237, 367 50, 178, 793 17,415 1, 152, 160 74, 479, 140 706, 610 2, 516, 082 499, 569 5, 207, 896 1,862,281 627, 853 4, 127, 049 277, 964 3, 044, 041 2, 508, 526 375, 941 Aver- age shares per share- holder. 33.6 10.7 46.5 12.7 10.5 5.7 6.2 7.2 8.6 7.6 10.9 12.5 5.0 0.3 7.0 4.9 7.5 5.0 5.7 0.8 8.9 16.1 9.3 7.7 11.6 5.7 7.0 4.9 6.5 8.2 8.0 6.8 23.5 4.3 0.3 8.0 6.6 7.8 8.0 7.3 9.0 6.9 12.9 8.5 8.1 0.8 8.0 15.8 408, 704, 126 927, 507 919, 275 812, 311 142, 173 42, 004 3, 265, 424 4,458,123 1, 588, 236 521,842 23, 832 1, 303, 340 651,214 327, 537 720, 868 3, 732, 472 30. 811 2, 959, 068 72, 017 86, 118 330, 373 46, 244 2. 679. 393 7.6 17.7 12.0 12.3 5.0 0.5 7.1 8.4 5.5 5.9 1.8 6.4 7.2 4.7 4.5 8.1 5.1 2.4 12.3 5.0 8.7 11.5 7.6 Aver- age dues and profits per share- holder. $441.65 342.99 445. 53 574. 46 656. 19 134.57 514. 38 334.74 449.57 554. 72 306. 16 356.51 204. 27 229. 24 317. 91 325. 36 463. 45 173. 74 207. 62 '249. 54 248.01 388. 00 481.28 490. 74 522. 82 357. 51 329. 07 127. 51 345. 14 413.94 238. 49 178. 71 415.70 216. 61 122. 64 550. 48 318.76 317.86 573. 92 367. 66 418. 74 377. 67 444.34 313. 75 346. 59 324. 18 265. 62 796. 49 302. 87 204. 34 161. 82 122.13 31.08 88.43 123. 34 85. G2 82.85 58.63 26.78 58.97 81.10 29.81 73.71 107. 02 118.05 87.88 72.74 62.18 82.59 34.43 67.98 Aver- age value of shares. CHAPTER II. — SPECIAL TABLES. 343 Taiw.k C— SHARES, SHAREHOLDERS, AND DUES AND PROFITS— Concluded. Total asso- cia- tions. Shares, shareholders, and dues and x>rofits. Avcr- aS 6 shares per share- holder. xVver- agedue3 and profits per sh are- holder. States ami territories. Asso- cia- tions report- ing. Number of share- holders. Number of shares. Dues and profits. Aver- age valuo of shares. N ATIONAL— concluded . 1 1 3 3 3 3 17 2 1 7 3 2 3 1 1 2 3 3 3 17 2 1 6 3 2 3 1,055 65 3,085 904 5,330 7,130 30, 990 1,508 2,259 7,950 1,748 952 3,74.— ENTRANCE" FEE. [This tablo relates to instalment shares only. Owing- to tho lack of epacc several rates -which -were cliarged by single associations only are not shown, andhavo been tabulated as not reported. A very great part of tho associations for which tho entrance fee is given as not reported are those where the conditions were too complex for any form of tabiilation. Examples of a few of these are: 4.0 cents States and terri- tories. Associations charging an entrance fee per member of — None cliarged. $0.10 $0.15 1 $0.25 $0.30 $0.50 $0.75 $1.00 $1.25 $2.00 $3.00 $5.C0 $10.C0 LOCAL. 7 1 1 23 9 2 a 18 26 14 14 1 109 81 24 16 20 24 3 112 8 13 24 206 1 1 1 1 1 1 1 3 1 " 1 " f" 1 1 1 1 1 1 9 4 8 1 4 1 2 2 1 1 1 Maine 1 4 G Massachusetts::".: 1 1 1 1 1 "' 1 ' 1 """1 1 .... ,....1 ' 1 ""1 4 1 106 1 1 1 1 1 ""1 1 II' 1 New Hampshire . . . New Jersey l 2 35 1 Ij 5|..:.. 13 1 53 1 1 7 1 1 211 1 1 30 1 20 1 8 1 | 2 2 | 1 1" " 1 Ohio 4 5 1 1 3 I 1 7 273 ■-" 1 1 1 Pennsj-lrauia 1 1 2 1 1 1 | ' " 1 """ 1 44 1 22 20 1 1 1 1 1 '"1 1 2 1 I 1 1 1 1 Utah 1 1 i 1 1 12 2 5 5 1 1 1 "" "1 "Washington. l ".f" i 1 ! "West Virginia 1 1 l 1 1 1 1 1 i 1 1 1 | 1 101 i 1 1,404 1 1 1 54 *1 9 90 l 3 2 1 1 NATIONAL. 2 1 1 I 1 j District of Columbia 2 1 j ! l 1 " " 1 1 1 1 3 5 n 1 1 -. ! 1 1 1 l 1 I :::■::!::::: 1 I 1 ■ 1 i - Minnesota 2 i i .... 1 1 i < Missouri 1 CHAPTER II. SPECIAL TABLES. Tahle E>.— ENTRANCE PEE. 345 Tw„ ? ^ h yCa, ' ! ™ cents for tho first share, 25 cents for each additional share; 25 cents per ?Zl wS7 6 ' S ' 15 . t ? e,lt ?.E ur »l>aro for borrowers. In tho case of those associations issuing se> er.il classes ot shares with a different entrance fee for each, tho class having the largest Lumber ot' shareholders has been given, the other classes being disregarded.! " I - umuerM Associations charging r.n entrance fee per sharo of— Asso- cia- tions not report ing. Total asso- cia- tions. Mar- S'a- al num- ber. $3.02 03.05 $3.10 $0.12* $0.15 $0.20 $0.25 $0.30 $0.40 $0.50 $0.75 $1.00 $1.25 $2.00 o 8 1 2° 2 2 1 1 1 1 1 23 4 32 125 42 15 21 20 21 11 4 031 42.1 61 71 131 20 20 237 115 73 83 30 349 7 00 1 10 230 5 390 21 5" 718 1 11 1,070 48 14 01 39 5 70 11 54 39 1 2 3 4 5 C 7 8 9 10 11 12 1 3 2 1 4 8 33 a 1 1 1 4 2 4 1 1 1 2 1 2 ' 1 \ 1 • > - 1 1 7 1 1 1 18 72 11 8 2 3 14 t .... L 5 1 345 209 18 31 39 1 2 131 2 1 1 3 1 10 24 8 4 30 1 1 1 -■! 7 ICO 1 ■1 3 2 2 7 1 1 8 3 4 5 14 2 1 1 1 1 2 1 1 i 14 15 10 17 18 19 20 21 22 23 21 25 20 27 28 i i 1 1 ■ i i 40 20 1 1 1 " 1 2 2 2 2 - 8 8 .20 30 10 1 53 3 48 11 11 55 2 1 1 1 1 2 1 2 1 10 1 1 1 1 2 25 1 1 I 2 1 i 3 1 7 1 i 1 1 i 1 7 1 13 1 13 2 1 .... : i " i 10 4 44 3 120 18 1 103 \ 507 2 1 4 30 31 32 33 34 35 36 75 o 1 11 1 2 13 1 i 1 i 13 3 5 1 217 1 141 8 • . i 1 3 20 2 1 11 l 133 | i 13 11 27 1 1 1 38 39 •10 41 1 1 / 1 2 3 3 1 10 5 1 1 1 1 i o 1 5 2 20 2 33 3 23 '4 3 1° 3 3 •1 4 1 1 1 1 i 1 1 .1 . 1 1 1 '•* 5 4 2 1 i 3 1 1 1 44 45 '-' 11 1 583 1 1 1 -:::l 2 ! 47 1 48 i i 1 1 G 33 8 115 50 1, 975 35 n I 570 15 333 2 1 5 78 5,598 1 1 3 1 1 1 4 8 .t 3 4< 38 10 8 1 17 2 3 3 13 2 17 49 1 1 4 3 1 I 50 '::: 1 1 51 1 :"\'i::::: . 52 1 i 1 53 1 .... i 11 34 11 i 1 54 1 ■;: 1 55 1 56 1 1 ; 1 57 j 58 1 3 14 59 ' ' 1 1 00 3 3 8 1 7 Gl | i 1 ■ 1 1 02 i ' f 1 4 1 1 1 7 03 i 1 1 04 1 ■ 1 1 1 05 346 .REPORT OF THE COMMISSIONER OF LABOR. Table D.— ENTRANCE FEE— Concluded. Mar- gin- States and terri- tories. Associations charging an entrance fee per member of — al Dum- ber. None charged. $0.10 $0.15 $0.25 $0.30 $0.50 $0.75 $1.00 $1.25 $2.00 $3.00 $5.00 $10.00 NATIONAL — COnc'd. 2 . 1 .. 3 New Hampshire New Jersey 1 1 1 1 4 i i 3 1 1 8 Ohio 1 10 1 11 j 12 4 I 1 1 13 1 i "" 14 Utah "1 i "" ::::::: 15 l I .. [.. .... i i 1 10 1 17 III 18 .... 1 i 1 1 1 Total II 1 25 3 1 1 1 1 ALL ASSOCIATIONS. 1 19 7 ~r 1 | 20 ■--•-•••••, - i i i 21 23 11 2 18 28 15 14 1 112 86 26 16 6 20 24 3 112 8 15 24 208 ■■"I i 1 22 1 3 " i 23 i 24 Connecticut i 25 20 Districtof Columbia Florida 27 28 29 30 9 4 8 i 4 1 31 2 .2 32 33 1 34 • 1 1 1 35 1 1 l 36 l i 37 4 ! 38 Massachusetts | 39 1 j j 40 1 41 42 43 44 4 1 7 107 1 45 46 New Hampshire ... New Jersey 2 35 47 1 5 13 1 50 48 1 49 7 1 1 211 1 39 1 26 8 1 2 ■i 50 North Carolina North Dakota Ohio 51 52 4 5 3 53 54 7 273 55 Pennsylvania 1 2 50 57 South Carolina South Dakota 44 1 26 20 58 ... 2 59 00 01 Utah 02 12 o 5 5 03 Washington "West Virginia 04 4 05 1 1 OK Total 1,519 1 1 54 1 101 9 99 1 3 2 1 1 CHAPTEE II. SPECIAL TABLES. Table B.— ENTRANCE FEE— Concluded. 347 Associations charg iDg »j) cntranco fee per share of— Asso- cia- tions not report- ing. Total asso- cia- tions. Mar- $0.02 J0.05 £0.10 J0.12V $0.15 $0.20 $0.25 $0.30 50.40 $0.50 $0.75 $1.00 $1.25 $2.00 al num- ber. 1 2 1 4 1 2 28 1 1 3 3 3 3 17 2 1 7 3 2 3 1 1 1 2 1 1 3 ! 1 18 1 4 ( 1 1 1 3 1 1 1 5 t 1 I 6 ■ ""I 1 1 1 7 1 I 1 "" 3 3 3 8 1 ! 1 9 "" i r 10 1 ! 1 1 1 2 i 11 1 1 11 1 1 5 2 2 1 12 1 13 1 1 14 1 1 1 1 15 1 ! 16 1 1. .J !"" " 1 . .. 17 I ' I | 3 18 [ i |---- : -i 1 1..... 3 2 34 1 ] 100 I 9 21 240 o 8 1 03 2 2 2 4 1 1 1 1 ! 1 1 27 4 32 133 46 15 21 29 23 43 •4 669 445 89 72 148 28 29 240 115 75 97 32 366 8 70 1 17 288 5 418 25 721 1 17 1,079 6 48 17 78 41 6 83 17 50 42 19 i"" i 20 3 2 1 4 9 32 2 i 21 1 1 1 4 2 4 1 1 5 5 1 22 1 23 24 1 25 1 26 1 7 7 1 1 18 72 12 8 40 2 3 14 27 5 1 340 209 18 31 39 1 2 131 2 1 1 14 1 44 35 12 4 50 3 1 1 28 29 7 100 1 4 3 2 2 C 7 1 1 8 3 4 5 14 2 1 1 30 1 1 3 i i 31 32 33 1 34 1 35 36 1 46 20 1 1 1 5 2 5 8 1 32 2 3 2 37 38 ..... 8 2 8 20 30 10 1 55 3 48 11 11 56 2 1 1 1 2 2 3 8 39 16 1 4 40 1 1 1 41 2 2 42 3 43 3 1 7 1 1 1 44 45 25 1 14 1 31 3 40 1 10 16 4 44 3 121 18 1 105 1 1 567 6 2 1 4 47 48 75 2 3 15 2 14 1 3 1 13 49 50 1 8 51 3 5 1 217 144 52 53 3 20 5, 12 1 11 54 1 133 1 13 11 27 1 55 56 1 2 3 17 4 2 15 7 3 1 3 1 1 57 2 3 1 5 2 20 9 2 33 3 25 22 4 3 3 6 1 4 3 4 4 1 1 1 58 2 1 1 59 60 L 5 61 2 4 2 1 4 2 1 4 62 63 2 11 2 1 1 61 2 65 66 G 36 584 8 115 50 1,978 35 13 590 10 499 2 14 99 5,838 348 REPORT OP THE COMMISSIONER OF LABOR. Table E.— FREQUENCY OF PAYMENT OF DUES. [This table relates to instalment shares only. In many associations shareholders are allowed a choice as to the frequency of payment. _In such cases the rule has been given, the exceptions being disregarded. Associations Iiavin, lated as not reported.] a different rule for borrowers and non-borrowers have been tabu- States and territories. Associations requiring dues to bo paid — Associ- ations not report- ing. Total "Weekly. Bi- Semi- weekly, monthly. Quadri- weekly. Montblj . Irregu- larly. ations. LOCAL. 23 4 29 125 42 11 21 •za 13 24 4 451 128 G8 87 11 8 CO 115 25 70 SO 343 7 48 1 10 262 5 101 4 5 00 1 2 32 4 8 7 1GD 232 13 110 17 1 G 1 1 2 1 7 1 29 213 U 1 41 3 1 4 1 S2 30 a 7 16 1 1 C6 1 17 2 2 3 231 2 'J 1 3 1 24 Ohio G41 1 1 247 17 3 7 718 l'S 746 47 12 54 16 4 50 13 7 27 81 2 1 6 1 2 G 2 1 12 47 11 48 14 1 Gl 1 39 Utah . . 4 76 14 54 1 39 6 '"1 2,234 i:;o S2 | 3,181 1 H 5,598 .NATIONAL. 1 | 4 i 1 ■1 2 1 12 35 16 8 1 15 2 3 15 2 13 1 i i 1 3 i 38 2 i 17 i 2 1 1 4 :::::::::i::::::::: 1 CHAPTER II. SPECIAL TABLES. 349 Table E.— FREQUENCY OF PAYMENT OF DUES— Concluded. States and territories. Associations requiring dues to 1)6 paid- Associ- ations not report- ing. Total Weekly. Bi- weekly. Semi- monthly. Quadri- weekly. Monthly Irregu larly. associ- ations. national— concluded. 4 1 1 21 1 1 3 3 3 3 16 2 1 7 3 2 3 4 1 2 28 1 1 6 <■ Ohio 1 o 2 18 220 ^-^= 2 ALL ASSOCIATIONS. 27 4 29 133 11 o 8 1 G 5 2 2 12 10 75 25 21 51 5 20 12 113 2 11 1 2 1 3 2 3 13 14 1 ' 15 16 2 17 18 [ 19 2 20 1 1 1 1 2 2 21 22 20 310 ■4, 37 1 10 249 4 07 4 2 132 1 22 1 12 23 1 1 24 1 2 25 2 1 26 27 28 2 1 29 1 30 1 31 1 32 ! ■! 33 1 1 1 1 1 1 2 2 183 34 .1 .1 ..." 35 1 10 700 G 38 20 1 28 5 9 5 36 1 10 1 37 .... ! 38 1 1 1 2 G 39 1 1 40 1 41 3 - 2 42 43 1 1 1 1 2 16 44 45 1 46 1 3 47 1 48 28 i 17 13 1 1 2,394 2 G 15 48 | ID | 2 | 6 218 5,598 4 8 4 3 2 12 38 16 8 1 17 2 3 3 15 2 17 49 i 50 1 1 1 51 1 52 53 1 11 1 1 54 1 1 55 1 1 1 1 56 57 1 58 1 59 2 60 61 2 I 1 62 1 1 G3 1 64 4 3 1 1 2 1 65 352 REPORT OF THE COMMISSIONER OF LABOR. Tap.i.e F.— DUES PER SHARE AT EACH PAYMENT— Concluded. Mar Associations requiring dues l cr sliaro at each payr-'.cut cf— gui- al num- ber. States and tcnitorica. II III 11 $0. 10 $0. 12 $0. 12jUo. 15 $0. 20 $0. 25 $0. 30 $0. 35 $0. 40 JO. 50 50.00 $0.65 1 2 3 NATIONAL — concluded. M! M'l 1 ■) 1 1 ' 1 ! 1 ' ' 1 i 1 1 2l.....| 4 1 2 8 1 1 1 1 1 1 12 1 1 1 i 1 1 1 14 1 1 1 2 1 1 i 11 1 ::".:i::. 1 1 11 1 11 1 12 1 1 1 13 1 i 1 14 Utah 1 1 13 i " 1 1 10 1 17 i ! 1 IS i 1 1 Total 2 1 4 | D 5 s ALL ASSOCIATIONS. 13 4 3 1 3 i 2 1 ... 5 I G 18 1 ■ 22 8 1 Ij'-T 2) 1 1 " A i 1 23 1 1 '... 1 26 1 8 6 27 1 I 1 2 1 28 1 1 10 ■ 29 1 80 9 2 SO 3 20 4 1 7 112 153 13 19 40 17 2 1 1 ! 2 ■ • 3D5 122 32 15 ::i 25 J 13 5 1 13 2 1 1 15 ; 1 1 31 32 33 Kansas l 12 2 1 1 .1 ' 34 5 i 1 1 33 1 sr, - 27 Maryland 1 i 168 1 1 ... 1 20 3 38 1 ::a Michigan . -Tj-T 8 4 7 1 25 47 ^ ... 19 7 >) IS 2 10 19 1 7 1 3 40 Minnesota Mississippi.. 41 42 Missouri - 2 3 43 a Nebraska . . . n 4 1 10 45 Nevada New Hampshire . i 1 1 1 ! 20 11 49 50 51 52 r'i 53 50 57 £8 59 00 01 02 03 61 03 00 1 - H0 1 4 5 175 20 2 130 1 1 171 ..... 5' iii" 1 •re 12 2 13 a 1 North Carolina . Ohio ." Oklahoma .'.'...'_ Oregon | ." Pennsylvania. ... Rhode Island South Carolina South Dakota ""."' Tennessee '.'.[." Texas utah ;.;." "Virginia " ' "Washington West Virginia "Wisconsin "Wyoming ' "3" si' "3' "3 ~2 "s "1 "1 "2 "3l" "i •-> ...... Y "*"£' 1 i 231 f3 A 5 2 3 8 1 "ii" 1 ' "i ..... 11 "i 3 22 2 1 5 3 2 1 1 -2 .... ' i ""1 151 2 CI | CI 40 jl, 260 45 8 "0 1, 123 ICO :o CHAPTER II. — SPECIAL TABLES. 353 Table P.— DUES PEE SHAKE AT EACH PAYMENT— Concluded. Associations requiring dues per share at each payment of — Asso- cia- tions not report- ing. Total asso- cia- tions. Mar- gin- al num- ber. $0. 7o'f .0.75 $0.80) 40.85 $0.90 ; ,0. G5 $1.00 $1.20 $1.25 $1.50 $2.00 $2.50 $2.75 $5.00 1 ........ 1 4 1 2 28 1 1 3 3 3 3 17 2 1 7 3 2 3 1 1 2 " 1 1 1 1 1 1 4 I 5 1 5 1 .... 1 . 1 7 1 1 1 1 g ! 9 1 "" 1 " l""~ 1 ... .1 1 1 1 11 1 12 1 13 '1 1 ... 14 ;;:. 1 1 15 1 .. I i 1 ' 16 i 17 1 .... i. . 18 i 20 ii . 2 2 1 19 4 1 4 1 1 2 7 240 G 2 27 4 32 133 46 15 21 29 23 43 4 669 445 89 72 148 28 29 240 115 75 97 32 366 8 70 1 17 288 5 418 25 6 721 1 17 1,079 C 48 17 78 41 6 83 17 56 42 6 19 1 20 3 21 i 114 32 10 19 23 12 18 2 30 76- 26 2L 52 5 29 12 113 1 23 20 314 4 37 1 17 249 4 102 4 2 132 1 1 1 22 1 1 i 23 i 24 i . 25 1 i 1 I 26 ::::'i 27 2 8 1 I. 2 17 G i 1 3 1 23 29 i 19 3 2 30 1 1 2 11 1 2 2 3 2 3 31 3?. 1 33 34 2 2 35 36 37 2 38 1 1 1 3 ... 2 3 39 1 1 I 40 .... 1 i 1 15 i 41 1 1 1 M * 2 1 42 1 1 2 43 1 3 1 1 44 l 45 1 46 1 1 2 2 47 1 48 1 1 1 1 1 1 49 1 50 i 51 1 1 1 1 1 2 1 2 184 52 S3 1 10 7C6 6 43 6 38 29 1 29 9 5 9 . 5 j 54 1 1 ID 1 55 1 56 1 1 2 6 57 1 1 58 1 1 59 3 1 2 60 ' '•""1 fil ' o 1 o 1 1 2 10 62 ' 1 63 1 ! - 64 1 3 65 I fl* 1 23 40 2-1 3 3 1 2,413 G 13 52 11 3 8 225 5,838 II. Ex. 209- -23 354 REPORT OF THE COMMISSIONER OF LABOR. Table G.— MATURING VALUE OF SHARES. [This table relates to instalment shares only. It was not possible, owing to lack of space, to show all tho maturing values found. A very few, therefore, found in one or two associations only, hare been Mar- States and terri- tories. Associations having stock of a maturing value per sharo of — gin- al num- ber. $25 $40 $50 $52 $85 $90 $100 $104 $105 $110 $m $115 $120 $125 $130 1 LOCAL. 8 9 3 2 2 l 3 32 1 1 4 10 16 1 2 1 1 5 l :::::::. 1 ■ i .. 1 L... 8 1 9 ...J 13. 8 3 030 204 59 50 50 4 i i i 10 1 i 2 i 11 1 12 1 "1 1 """"•' 13 Indiana 1 3 1 14 ! i 15 1 2 . 1 . i 16 1 i! 17 18 19 2 . . .'i 1 140 18 3 2 j 43 20 1 1 21 4 41 53 21 10 21 6 20 1 1.... l 13 1 1 22 Minnesota 1 I | 23 2 1 24 \.... l.:. i 1.... 25 i i i i 1 20 ::" i . 'i. i.... i 27 28 ii ! 'i 29 13 .... I.... !.... .... ! 1 30 1.. .... 1.... 31 New York 1 .... i 1 132 24 1 167 1 3 185 1 23 3 1 1 I 9 1 8 | 50 32 33 2 2 ! 1 l 34 Ohio 1 II! 35 1 1 1 1 > i 30 1 | 1 1 1 37 1 2 1 5 1 1 3 1 1 8 i 38 39 2 12 7 19 28 4 39 8 7 19 3 1 I 1 40 I 1 1 I 41 1 ! 1 42 1 1 I l 43 TJtali 1 i 44 2 5 1 1 45 1 1 40 1 1 k | i 33 1 47 4 .... 1. "i ! 1 48 1 "! ■ i i Total NATIONAL. ii 40 8 83 | 1 2 1 2,004 23 24 8 ■1 1 9 | 5 j 30 123 49 4 1 ! i 1 i 1 50 8 4 1 2 12 38 10 8 | ■ 51 1 1 ■ m Dist. of Columbia . 1 53 i > i 54 55 50 57 * 58 59 1 16 2 3 3 15 2 7 1 2 On ' 1 ' 1 01 III! 02 03 I 1 • i 04 1"""' i '""i 05 * |i| (ill lii 07 ! l 1 i CHAPTER II.- — SPECIAL TABLES. 355 Table «.— MATURING VALUE OP SHARES. tabulated as not reported. Many associations have several classes of shares. Only tlio class having the largest number of shareholders has been given in oaeh case, the other classes being disregarded. ] Associations having stock of a maturing value per share of — Asso- cia- tions not report- ing. Total asso- cia- tions, Mar- $150 $100 $105 $180 $182 $195 $200 $225 $240 $250 $300 $400 $500 $1,000 gin- al num- ber. 3 2 23 4 32 125 42 15 21 20 21 31 4 631 429 81 71 131 26 29 237 115 72 82 30 349 7 66 1 16 286 5 390 24 5 718 1 14 1,070 48 14 61 39 5 76 14 54 39 6 1 2 3 108 16 10 18 10 8 10 1 4 1 1 2 8 5 2 6 1 1 7 1 4 1 8 9 1 1 3 10 1 . i 1 11 1 1 1 1 12 7 1 5 1 1 .. 1 100 20 19 19 20 29" 7 113 1 16 10 1 4 11 13 1 14 1 1 1 1 36 2 15 ... 1 1 14 2 6 1 16 1 1 1 17 " 1 I 1 18 10 1 1 1 2 12 19 l 1 20 21 17 17 187 1 46 1 10 264 5 82 2 22 ""' 1 I 23 1 1 89 3 40 8 1 24 «5 20 ■ 1 27 .1 28 p 2 1 3 3 1 29 30 4 69 3 31 32 1 2 118 1 33 5 1 50 22 18 333 1| 2 34 35 11 819 G 33 G 41 11 1 25 G 36 19 1 1 # 1 2 1 11 1 7 2 37 38 1 1 1 39 i 40 I 41 1 42 1 43 1 1 3 44 1 45 12 1 1 1 1 1 40 14 o 47 1 48 57 1 2 5 1 1 2 2,325 1 90 j 158 | 89 39 401 8 39 5, 598 1 1 .. 49 8 4 3 2 12 38 16 8 1 17 2 3 3 15 2 17 1 4 51 51 1 2 52 53 54 55 50 57 ....... ""l ""a ..... 59 60 61 62 63 64 65 6" 356 REPORT OF THE COMMISSIONER OF LABOR. Table G.— MATURING VALUE OF SHARES— Concluded. States and terri- tories. Associations having stock of a maturing value per share of— gin- al Dum- ber. $25 $40 $50 $52 $85 $90 $100 $104 $105 $110 $111 $115 $120 $125 $130 NATIONAL — COnc'tl. 2 2 25 1 1 3 3 3 3 15 1 1 5 3 2 3 1 1 1 1 ! Ohio I 1 7 8 1 1 9 ! 10 t 11 1 12 Utah 1 I 13 1 j i I 11 1 1 1 L... I . 15 1 .! .1 | 1 10 i i i i. :::"::: Total 7 211 i i ALL ASSOCIATIONS. = .. 17 8 13 3 2 18 ; I 19 32 1 i 1 1 20 24 20 1 2 1 15 20 3 C08 220 07 50 00 1 1 | 21 ....!.... l i ; i 22 1 :::;v""i 23 ....!.... | ! i i . 24 Dist. of Columbia. 1 I i i 25 i 1 i 20 1 2 | 27 ' 1 " ! 1 28 ! 1 1 29 1 3 I . 1... i 1 ■ 30 i i i c.::~:< ' 31 1 3 < 38 Minnesota 1 1 39 ! ' ! 2 1 1 40 ' l 41 1 i 42 1 : 43 i 1 1 1 44 ...J.... 45 1 15 1 1 I 40 1 1 1 ! 1 i 47 New York 1 4 1 1 157 25 o 170 1 1P8 .... j 23 1 3 1 • 9 ! 8 53 48 49 North Dakota 2 2 1 1 i 50 Ohio ....].... 1 1 1 i 1 51 1 .... 1 ' 'I'"" 1 | 1 52 53 Pennsylvania 1 2 1 | i | 3 i 1 i B i 54 i " 55 South Carolina 2 12 10 34 29 5 44 11 9 22 3 > 1 '• 1 i 50 57 1 1 1 1 | 58 1 .1 1 59 Utah ! 1 i. no 2 6 1 .... 1 1 1 01 1 1 1.. 02 1 03 4 [-... '1 "' 04 Total 30 40 8 90 1 1 1 2 1 1 J2, 215 21 1 21 G 1 4 5 128 CHAPTER II. SPECIAL TABLES. 357 Table G.— MATURING VALUE OF SHARES— Concluded. Associations having stock of a maturing value per sharo o] Asso- cia- tions not report- ing. Total asso- cia- tions. $150 $100 $165 $180 $182 $195 $200 $225 $240 $250 $300 $400 $500 $1,000 gin- al num- ber. 1 1 2 28 1 1 3 3 3 3 17 2 1 7 3 2 3 1 i 1 i 1 2 3 1 ' l i ; i i " 1 i i 1 1 1 1 1 1 1 2 1 ! I 1 i 1 '1 1 !.... 1 1 ! . 1 I 1 1 i h. [ ...1 35 1 . 1 16 1 ' i 1 1 .... 1 ! .■ 12 2 lj i\ 3 240 T i 1 | 3 2 27 4 32 133 40 15 21 29 23 43 . i 669 445 89 72 148 28 29 240 115 75 97 32 366 8 70 1 17 288 5 418 25 6 721 1 17 1,079 6 48 17 78 41 6 83 17 56 42 6 17 L... : 1 i 18 1 1 " '1 19 108 10 10 18 21 8 l(i 1 1. .. 20 1 1 2 8 21 2 22 1 1 23 i 4 1 24 25 1 3 26 27 1 1 28 7 1 5 ' 166 20 19 19 20 29 7 113 1 10 10 1 4 11 29 1 30 i - 2 36 2 31 1 i ! 11 2 6 1 32 .... 1 33 1 34 10 2 12 35 1 1 36 37 1 17 17 190 1 48 1 17 204 5 83 2 38 1 39 89 3 40 9 3 3 1 40 ...!-- 41 42 1 43 1 44 I 2 1 3 3 45 46 i 4 71 3 47 48 2 118 49 5 50 22 18 333 1 2 50 51 11 819 6 33 6 43 11 1 26 52 19 1 l 1 2 1 11 1 7 o 53 51 1 1 55 56 57 58 59 1 3 60 61 12 1 1 1 1 1 62 14 2 63 1 64 57 o 5 l 1 2 2,337 1 96 160 89. 40 405 11 39 5,838 358 REPORT OF THE COMMISSIONER OF LABOR. Table II.— NUMBER OF SHARES ALLOWED ONE PERSON. Associations allowing tho following number of shares to ono person. Asso- cia- tions not re- port- ing. Under 25. 23 or un- der 50. 50 or un- der 75. 75 or un- der 100. 100 or un- der 1,001 In each sories. Un- lim- ited. Total States aud territories. Under 25. 25 or un- der 50. 50 or un- der 75. 75 or un- der 100. 100 or un- der 201. cia- tions. LOCAL. 1 3 2 1 10 1 3 3 3 16 30 30 1 13 1 3 l i 1 32 1 1 5 2 3 G 5 2 48 10 3 2 1 8 1 3 9 1 1 1 15 16 24 9 13 2 165 175 8 24 37 2 1 2 8 1 1 1 26 2 4 1 2 2 7 1 2 5 1 1 2 2 11 2 4 27 136 71 13 41 1 1 20 r 6 8 3 37 110 21 1 12 21 2 28 38 113 8 7 4 50 2 70 25 8 1 183 24 23 33 1 7 2 2 16 1 16 C31 10 10 6 2 1 1 13 3 3 3 7 2 1 131 16 9 1 150 1 25 7 7 102 1 7 3 2 8 2 129 1 2 6 47 5 1 11 1 14 6 1 5 1 3 1 82 30 20 2 1 6 1 2 1 349 7 Nebraska 53 G6 1 New Hampshire 4 26 12 45 4 80 3 16 14 4 15 9 1 1 1 - 171 1 57 86 5 3 03 8 4 2 81 14 2 141 1 1 809 1 2 6 24 North Dakota 1 570 2 Ohio 2 1 2 5 44 2 8 5 3 5 2 41 4 6 1 2 5 1 2 1 6 17 3 50 1 2 31 1 56 19 19 South Carolina ■ 1 2 31 G 1 17 1 2 4 3 1 1 9 2 1 11 2 30 3 2 18 1 37 31 4 2 2 South Dakota 1 2 1 1 9 2 1 Utah 1 1 4 2 9 1 1 4 'Washington 1 1 8 1 4 1 1 1 1 1 39 1 i Total 1,180 682 569 23 480 180 130 68 1 29 2, 211 45 5,598 NATIONAL. 1 4 1 2 3 3 3 1 2 7 15 14 1 1 4 1 2 o 13 1 10 1 1 1 4 8 4 3 2 12 38 16 8 1 5 20 1 1 1 1 7 ..... . 1 12 1 1 2 3 3 15 2 17 1 4 2 1 1 2 4 1 1 Nebraska 1 2 CHAPTER II. SPECIAL TABLES. 359 Table H.— NUMBER OF SHARES ALLOWED ONE PERSON— Concluded. Associations allowing the following num person. ber of shares to one Asso- cia- tions not re- port- ing. Under 25. 25 or un- der 50. 50 or un- der 75. 75 or un- der 100. 100 or un- der 1,001 In each series. Un- lim- ited. Total States and territories. Jnder 25. 25 or un- der 50. 50 or un- der 75. 75 or un- der 100. 100 or un- der 201. cia- tions. Hatiokal — concluded. 1 2 19 1 1 3 1 1 2 1 2 1 5 n 1 1 2 1 8 28 1 1 Ohio 3 2 2 1 15 1 3 i 3 3 1 * 17 2 1 2 1 7 3 2 1 1 88 3 Total 10 2 7 130 3 240 ALL ASSOCIATIONS. 1 3 2 1 11 1 3 3 16 33 33 1 14 1 27 4 3 11 14 1 1 32 1 1 5 2 3 6 5 2 48 3 • 2 1 8 1 3 9 1 133 46 1 1 15 16 25 11 20 2 180 189 9 25 41 3 1 3 8 1 1 21 3 29 2 4 1 2 ' 2 7 i 2 5 1 23 1 7 43 2 11 2 4 27 136 78 13 41 1 1 20 1 6 8 3 38 111 21 1 12 21 2 28 38 113 8 7 5 50 2 71 26 8 1 203 25 23 33 1 7 2 2 16 1 16 669 445 89 10 11 6 2 1 1 25 4 3 3 7 72 2 I 148 28 29 16 10 1 I 152 1 27 20 8 112 1 9 3 1 240 1 115 2 8 2 131 1 2 49 5 1 11 1 14 6 I 5 1 3 1 75 97 32 24 1 1 2 1 6 1 2 1 366 54 70 1 1 4 26 12 45 4 86 3 1 173 1 17 14 4 15 a 1 1 1 288 5 58 86 5 3 71 8 4 2 100 15 3 144 1 2 810 1 2 6 418 25 1 570 2 6 2 1 2 721 rvi ii l " " ' 1 5 44 2 8 5 3 5 2 41 4 6 1 2 5 1 2 ■1 6 17 3 50 1 4 33 1 56 17 19 19 1,079 6 Rhode Island 1 2 32 6 1 17 1 2 5 3 1 1 2. 24 2 1 16 1 1 9 1 2 30 5 3 20 2 42 8 33 5 2 2 2 48 1 2 1 1 9 2 17 1 1 78 6 4 2 9 1 4 1 1 4 17 56 West Virginia ..- 1 1 42 1,190 684 576 23 568 180 130 68 1 29 2,341 48 5,838 360 REPORT OF THE COMMISSIONER OP LABOR. TABLT5 S.— VOTES ALLOWED. [Tn tliis fable all variations from tlio form of statement shown aro tabulated ao not reported. Some of such variations are: One vote to every share, but not exceeding 10; one vote to overy share of fully paid-up stock ; one vote to every share, but for free shares only ; one vote to every shareholder except borrowers ; one vote to every share for each year it has run.] Associafiona allowing ono rote to every — Associa- tion a not re- porting. Total States c::d territories. Share- holder. Share. 5 shares. 10 yliarcs. associa- tions. LCCAL. 2 21 A. 32 110 33 1 4 3 18 23 4 107 i07 ia 43 39 21 23 4 32 11 1 14 37 21 3 3 1 2 125 42 15 21 2 26 21 5 122 216 32 26 89 1 £01 2 3 1 131 1 26 29 120 115 26 C7 3 31 2 5 29 CO a 2 14 27 338 4 CO 1 41 1 72 82 349 i 7 1 36 245 1 325 12 1 72 1 34 4 58 12 4 504 7 5 1 390 24 5 Ohio 142 14 245 818 6 2 11 6 48 31 59 20 2 57 12 48 23 5 48 3 ;t 36 2 6 15 1 10 1 3 Utah 14 54 1 1 Total 2,483 2,394 8 2 711 NATIONAL. 4 8 4 2 11 4 16 4 1 16 2 3 4 1 1 1 31 3 1 1- 3 4 1 5 11 1 11 1 2 o 1 2 1 2 2 CHAPTER II. SPECIAL TABLES. Taiu.k J — VOTES ALLOWED— Concluded. 361 AGSoeiiiliona allowing f nevoio to every— Associa- tions not re- porting. Total States a:ul tor:-itor;es. Share- holder. G'.iaro. 5 shares. 1C Ehnrca associa- tions. NATIONAL— CO Included. 13 17 1 1 28 1 1 3 3 3 3 17 1 3 3 2 3 16 2 1 3 2 3 1 1 Utah 3 1 5 Total 30 161 1 45 ALL ASSOCIATIONS. 23 ~4 S2 118 43 1 4 27 4 H 1 ji 17 1 3 1 2 2 20 34 4 111 223 53 44 53 20 6 43 i " 4 123 210 35 20 !)0 1 d3i 6 1 1 609 - 445 .1 . 89 72 1 148 1 23 23 120 115 20 71 I 10 2 5 , 29 03 1 57 240 1 115 2 25 28 319 5 02 1 1 17 1 75 97 1 32 ! 1 1 3 366 \ 8 l 70 1 1 17 545 1 335 12 72, I 1 17 36 I 75 13 4 504 1 7 288 1 5 1 7 '418 6 145 721 1 17 17 819 G 247 11 1,079 6 48 14 75 22 3 03 15 50 26 5 1 48 1 3 2 17 2 6 15 17 1 2 16 1 3 ■ 78 41 6 S3 17 58 i 1 42 6 2,513 2,558 9 2 756 5,838 362 REPORT OF THE COMMISSIONER OF LABOR. Tablk St.— TRANSFER FEE. [In tins table, owing to the lack of space, several rates which, were charged by a very few associa- tions only are not shown, and have been tabulated as not reported- A very great part of the associa- tions for which the transfer fee is given as not reported are those where the conditions were too complex for any form of tabulation. Examples of a few of these are: 5 cents per share, but not less Mar- gin- States ami territories. Associations charging a transfer fee per transaction of — al num- ber. None charged $0.10 $0. IS $0.20 M. 25 $0.50 $0. 60 550.75 $1.00 $2.00 1 LOCAL. 16 1 2 2 3 7 7 23 1 11 10 9 13 1 59 49 13 6 18 3 3 30 20 1 3 3 3 1 i 3 4 5 3 1 2 7 8 Districtof Columbia 3 1 3 2 10 11 12 53 31 11 6 20 45 11 3 1 9 18 3 1 3 1 2 2 13 2 1 14 1 15 1G 17 2 5 4 30 1 1 5 9 18 1 5 1 8 14 2 41 19 2 7 20 21 10 10 8 36 2 8 22 1 23 24 1 1 34 25 2G 12 19 1 27 28 NeW'Hampshire 7 135 1 26 2!) 3 1 40 13 30 31 21 6 20 63 88 1 32 North Carolina 33 34 Ohio 149 37 19 4 35 36 6 399 37 Pennsylvania 37 1 4 8 2 1 10 4 8 1 38 39 33 1 21 21 1 13 1 2 3 1 1 2 3 1 2 3 2 40 41 1 42 43 Utah 1 4 2 4 44 * 45 46 2 10 1 1 1 2 47 48 Total "1 1,173 7 2 | 2 j 345 348 1 2 224 6 XATIONAL. 49 1 2 1 3 2 1 1 10 50 1 51 m District of Columbia :::::: 53 54 Georgia 1 2 1 4 7 55 50 57 Iowa 1 58 1 G 1 3 59 "1 fin fil 62 63 7 2 64 2 1 65 1 1 6 CHAPTER II. SPECIAL TABLES. 363 Tablk K.— TRANSFER FEE. than $1 per transaction; $1 per share up to $5, 20 cents for each additional share; transfers to mem- bers, 25 cents per transaction; to non-members, 50 cents per transaction. In the case of those associa- tions issuing several classes of shares "with a different transfer fee for each, the class having the largest number of shareholders has been given, the other classes being disregarded.] Associations charging a transfer fee per share cf— Asso- cia- tions not report- ing. Total asso- cia- tions. Mar- gin- $0.02 $0.05 $0.10 $0.1 2J $0.15 $0. 20 $0.25 $0.35 $0.50 $0.75 $1.00 al num- ber. 2 1 1 2 23 4 32 125 42 15 21 26 21 31 4 631 429 81 71 131 26 20 237 115 72 82 30 349 7 00 1 16 286 5 390 24 5 718 1 14 1,076 48 14 61 39 5 70 14 54 39 6 1 2 2 2 1 1 3 1 100 4 2 1 5 2 8 2 122 IS 1 22 ~5 2 1 4 7 8 5 4 2 1 280 163 16 15 34 15 20 121 76 8 so 1 18 4 4 5 G 7 1 8 1 9 1 1 1 1 1 10 11 11 1 G 10 5 t 1 3 2 12 64 12 6 27 1 1 7 1 48 20 11 5 6 2 12 13 14 2 5 1 15 | 31 16 17 18 2 17 6 2 1 35 1 1 11 14 6 1 8 19 20 13 23 13 17 2 27 3 1 1 i 25 4 1 21 1 22 1 1 2 14 23 1 87 24 1 25 4 3 26 27 2 13 5 45 10 3 103 1 1 166 5 2 10 2 20 i 28 15 2 1 2 1 18 28 2 1 1 29 30 10 18 G 1 2 12 6 104 1 31 32 2 1 33 17 1 5 217 142 23 34 35 5 196 1 21 1 189 36 52 1 1 1 37 38 1 4 1 5 39 2 1 2 40 1 1 10 1 1 1 41 42 43 1 2 1 G 3 2 18 1 9 1 44 4b 1 6 1 46 47 48 2 129 071 3 36 21 | 1,363 3 527 3 214 516 5,598 | 1 4 4 8 4 3 2 12 38 16 e 1 17 2 3 3 15 2 17 49 2 1 1 50 " 51 52 1 6 7 6 2 53 1 7 2 54 1 1 7 2 1 1 55 1 1 56 2 1 57 58 4 3 1 59 60 61 2 1 62 1 1 1 65 364 REPORT OF THE COMMISSIONER OP LABOR. Taislk K TRANSFER FEE— Concluded. Mar- gin- Slates ami territories. Associations charging a transfer fee per transaction of — al num- ber. Nono charged $0.10 $0.15 $0.20 $3.25 $0.50 $:>. CO $0.75 $1.C0 £2.00 1 NATIONAL— COUC'll. • 1 2 2 a New Hampshire 1 2 4 4 5 1 8 3 G 7 8 Ohio 1 9 2 10 Pennsylvania 1 11 1 1 14 2 1 3 1 2 2 12 1 13 14 Utah " 1 15 16 1 17 18 1 1 10 1 ^ S3 17 ALL ASSOCIATIONS. , 19 17 4 20 i 21 7 7 23 1 11 10 9 15 1 59 49 14 6 18 Q 30 i 20 1 3 ! 4 1 1 1 1 22 3 4 1 23 1 24 Connecticut 3 9 1 25 1 1 26 Districtt>f Columbia 1 1 2 1 27 3 I 3 1 | 2 ......J 1 28 1 1 29 30 53 31 11 6 20 45 11 1 i 13 1 12 :5 ' 3 2 '■ 9 | 2 2 ' 31 2 1 i 32 1 | 33 34 " V 35 2 1 30 5 4 30 1 1 5 1 5 1 8 11 2 a 37 1 5 38 . -- . 7 39 10 10 10 37 2 8 l 40 i 8 2 41 1 42 1 1 40 1 3 43 44 12 19 45 . 46 New Hampshire New Jersey 8 137 1 20 47 3 1 4G 13 48 49 25 G 20 G4 96 3 50 North Carolina 1 51 52 149 37 20 4 53 6 400 2 8 1 55 Pennsylvania 37 1 2 4 8 2 1 10 i South Carolina South Dakota 33 1 22 21 1 13 1 o 3 1 1 ! 1 58 59 60 61 G2 63 64 65 66 2 3 3 17 4 1 8 2 3 3 2 1 1 1 4 3 4 Washington West Virginia 2 10 1 Xotal 1,189 7 2 2 340 351 1 2 327 23 CHAPTER II. SPECIAL TABLES. Tablk Ji.— TRANSFER FEE— Concluded. 365 Associations charging a transfer fee per share of — Asso- cia- tions not report- ing. Total asso- cia- tions. Mar- $0. 02 $0.C5 $0.10 $0. 12£ $0. 15 $0.20 $0.25 $0.85 $0. 50 $0.75 $1.00 u al num- ber. - # 1 4 1 2 28 1 1 3 o . 3 3 17 2 1 7 3 Tui!iber. Original amount. Largosl. Smallest. Average si:er. 242 10D CD 39 19 11 1 13 2 .... 5 1 2 1,109 1 ?, i 3 1 1 ! II ! 1 4 i 1 1 1 1 5 1 I | fi 1 i - ' L 1 1 7 1 1 1 ; 1 1 8 1 1 1 ! 9 1 10 1 1 1 i 11 1 1 1 1 12 i 1 1 13 1 1 1. 14 1 1 657 | 218 197 94 70 | 33 37 5 | 28 | 7 11 1 2 W 4,040 | 15 16 74 223 47 143 23 12 100 184 14 119 21 54 3 8 32 30 14 132 42 32 3 6 04 9 8 2 9 78 10 13 1 2 30 4 7 33 1 1 1 17 4 29 3 1 5 4 1 1 10 14 2 473 1,171 207 351 171 39 025 671 17 13 1 1. 18 19 20 ?,\ 22 20 67 9 11 8 18 1 4 6 17 2 1 4 4 2 1 5 2 5 23 24 25 523 104 72 122 28 9 108 24 9 43 1 43 6 1 18 1 10 3 1 1 10 1 5 1 1 3 10 4,821 1,095 443 26 28 29 107 5 224 258 918 55 49 110 392 39 35 73 343 7 3 13 11 123 10 1 19 9 95 1 1 2 39 5 2 1 7 57 1 1 1 3 470 58 1,421 1,756 3, 467 3(1 31 32 2 10 3 27 1 1 1 33 34 35 20 87 28 13 14 4 5 10 9 1 2 1 2 1 118 473 103 36 6 1 3 1 1 3 2 2 37 38 1 1 39 20 3 5 76 40 ! 1 41 246 1,080 61 337 68 360 24 103 30 lfi3 5 43 10 65 2 1 9 18 47 1 6 1 4 25 874 4,745 42 12 1| 7 43 44 978 8 471 7 345 4 178 1 105 71 70 51 74 1 19 28 10 | 8 61 45 46 1 47 149 78 64 31 36 15 14 6 15 2 10 1| 2 15 48 4a 45 1,454 95 14 9 458 49 7 7 469 04 7 2 114 37 2 6 141 23 3 48 8 '1 2 82 10 1 16 2 i 39 5 5,240 421 56 51) 17 3 | 11 S3 51 52 53 £4 277 71 112 20 45 4 19 1 1 6 2 4 1| 1 55 •56 57 23 19 24 8 1 8 6 1 37 158 5« i ' 59 2 3 1 SO 61 62 7,668 2, 651 2,490 839 937 307 428 130 j 292 56 102 17 j 44 1 153 36, 821 372 REPORT OP THE COMMISSIONER OP LABOR. Table IV.— INTEREST RATE CHARGED ON REAL ESTATE LOANS IN CER- TAIN REPRESENTATIVE ASSOCIATIONS. Mar- Associations charging an interest rate on real estate loans of — gin- al num- ber. States and ter- ritories. 3.00 per cent. 4.00 per cent. 4.20 per cent. 4.50 pei- cent. 4.52 per cent. 4.73 per cent. 4.80 per cent. 4.95 per cent. 5.00 per cent. 5.20 per cent. 5.50 per cent. 5.72 per cent. 5.98 per cent. 6.001 0.12 I per j per cent, cent.: 1 LOCAL. 1 1 13 3 8 G 3 Q 10 12 2 1 S.'8 20 1 1 5 2 C5 13 14 15 1G 17 1 18 1 2 2 G 129 ' 20 100 1 21 i [ 22 i 1 4 4 3 i Z'3 1 24 2 2 L 1 25 2G ! I ' 1 27 1 1 28 NewHamps're New Jersey.. New Mexico . New York . . . i i ! 14 205 29 1 1 3 JO 1 1 30 1 i 31 32 4 3 1 7 1 3 20 01 122 1 4 111 1 1 North Dakota 34 1 17 1 35 1 30 37 "Pennsylvania Rhodelsland- 1 4 1 G3 20 2 1 711 5 1 3 38 39 1 ; South Dakota 41 ! i 42 1 ] 4IJ ' 11 1 G 3 45 "Washington . West Virginia 40 i::::: 47 i Total .. NATIONAL. i 4 20 1 146 i 5 4 1 5 8 7 1 154 3 1 1,432 3 49 | 50 1 51 1 52 Dist. of Col... 53 54 1 i 2 7 1 3 55 1 1 56 '1 57 58 1 ! 59 1 1 1 GO 1 1 1 Gl 3 62 G3 G4 05 00 07 03 NewHanips're 1 1 8 09 1.. 70 1 1 G 3 CHAPTER II. SPECIAL TABLES. 373 Table ^.-INTEREST RATE CHARGED ON REAL ESTATE LOANS IN CER- TAIN REPRESENTATIVE ASSOCIATIONS. Assbciations charging r.n interest rate on real estate loans of— Total asso- cia- tions. Mar- 6.21 1 0.25 1 6.50 per per per cent. 'cent. cent. 6.93 per cent. 6.96 per cent. 7.00 per cent. 7.10 per cent. 7.20 per cent. 7.30 per cent. 7.50 per cent. 7.80 per cent 8.00 per cent. 9.00 per cent 10.00 per cent None charg- ed. Kot report- ed. gin- al num. hor. 4 18 4 30 40 38 1 13 20 14 28 4 415 404 CI CO 12G 23 4 307 15 67 70 19 332 6 00 1 ■2 CO 5 33 21 5 091 1 12 199 1 40 13 54 39 5 05 13 48 35 6 23 4 32 125 42 15 21 26 21 31 4 031 429 81 71 131 20 20 237 115 72 82 30 349 7 CO 1 16 280 5 390 24 5 718 1 14 1,070 48 14 CI 39 5 70 14 54 39 1 2 3 4 5 7 8 9 10 11 12 13 14 15 16 1 2 1 1 39 3 2 14 2 1 1 2 1 3 .... 1.... 1 1 1 1 38 1 1 1 18 50 2 13 1 1 1 1 1 1 1 1 4 1 1 1 1 .... II. 1 I 18 19 20 21 20 ! l 2 2 2 | 1 1 2 1 2 1 5 1 1 5 | 23 1 1 2 1 I 1 2 25 26 1 1 2 1 1 6 1 1 30 7 .1 8 1 1 3 32 1 '1 5 1 1 1 1 1 35 ! 2 3 36 35 3 13 2 :::::i i" i 4 1 2 37 38 39 1 40 41 42 43 44 45 1 . ::::.:; 46 1 1 47 i 48 70 5 23 2 i 83 i j 7 3 34 104 8 16 j 13 3,414 5,598 " 4 8 4 3 2 10 30 15 4 1 16 2 4 8 4 3 2 12 38 16 8 1 17 2 3 3 15 2 17 1 4 1 2 28 49 50 1 1 1 " 51 1 52 ' , 53 i 54 j 1 55 1 50 i 1 57 1 58 69 i CO i CI 3 15 2 17 1 4 62 t 03 1 64 ! 65 i 60 .. I 07 I OS 1 1 9 69 i 70 374 REPORT OF THE COMMISSIONER OF LABOR. Table W.— INTEREST RATE CHARGED ON REAL ESTATE LOANS IN CER- TAIN REPRESENTATIVE ASSOCIATIONS— Concluded. Mar- States and ter- ritories. Associations charging an interest rate on real estate loans of — al num- ber. 3.00 per cent. 4.00 per cent. 4.20 per cent. 4.50 per cent 4.52 per cent. 4.73 per cent. 4.80 per cent 4.95 per oont. 5.00 per cent. 5.20 per cent. 5.50 per cent .5.72 per cent 5.98 per cent. ■0.00 per cent 0.12 per cent. 1 NATIONAL — concluded. ? North Dakota ' 3 *""" 4 1 ! i ( 5 Pennsylvania South "Dakota \ 1" i i n 1 i i i i 1 i 7 8 ' i ! ; • 9 Utah i 1 i 1 1 1 in 1 j 1 ' ii "Washington "WestTirginia 1 III i?, ' 1 ! .'" in 1 1 Total .. 1 1 1 3 1 " ALL ASSOCIA- TIONS. 14 15 1 1 Ifi 1 ' 17 1 1 1 13 1 18 1 10 3 Q|..... 3j 5 ! ?0 1 ?1 [ n m "::"i •/>, i 95 2 1 i 103 21 ! .... ?n i ?,7 ! 28 ; 1 2 25 32 ■ 100 ?0 .an 1 SI 1 32 2 i 6 33 34 .35 36 4 4 3 37 2 2 I 1 38 3D i 40 i 41 NewHamps're New .Jersey. . New Mexico New York. . . I 4?. 1 1 3 .. . 10 206 43 ! 44 45 46 47 48 4 :i 1 7. 1 4 20 67 i33 1 1 i 122 North Dakota 1 ] I Ohio i 1 1 ! | 17 1 I 49 i 50 Pennsylvania Rhode Island 1 4 1 03 26 2 1 712 .5 1 3 ■51 52 1 53 -South Dakota 1 i 54 t 1 55 i I [ 56 57 11 1 G 3 .58 .50 "West Virginia | i m .01 Total.... 1 6 1, 460 5 | 4 5 8 7 1 6 20 152 127 3 3 CHAPTER II. SPECIAL TABLES. 375 Table N. -INTEREST RATE CHARGED ON REAL ESTATE LOANS IN CER- TAIN REPRESENTATIVE ASSOCIATIONS— Concluded. Associations charging an interest rato on real estate loans of — Total asso- cia- tions. Mar- 0.24 per cent. 6.25 per ;ent. 6.50 per cent. 6.93 per cent. 6.96 per cent. 7.00 per cent. 7.10 per cent. 7.20 per cent. 7.30 per cent. 7.50 per cent. 7.80 per cent. 8.00 por cent. 9.00 per cent. 10.00 per cent. None charg- ed. Not report- ed. gli- al nnm- l>er. 1 1 3 3 2 3 17 2 1 7 2 3 1 1 3 3 3 3 17 2 1 7 2 3 1 1 2 1 - 3 1 1 4 1 . 1 5 1 1 6 7 . ...L... i 8 i 9 1 10 1 11 1 12 13 i 1 1 1 1 1 199 240 4 22 4 30 57 42 1 13 23 16 38 4 445 419 65 67 142 25 4 167 15 70 91 21 349 7 04 1 2 01 5 41 22 G 694 1 15 201 1 46 16 71 41 6 72 16 50 38 6 27 4 32 133 46 15 21 29 23 43 4 669 445 89 72 148 28 29 240 115 75 97 32 360 8 70 1 17 288 5 418 25 721 1 17 1,079 6 48 17 78 41 83 17 56 42 6 14 i i 15 I i 1 2 1 1 IB i 39 3 2 14 2 17 1 2 18 i 19 i 20 * 1 21 I 1 1 1 3 22 ; n 24 1 38 1 2 C 1 1 1 19 50 2 13 1 1 1 25 1 26 1 i i 1 1 1 4 27 1 ""i i.:.:.i 28 I 1 ! 29 i ! i 1 30 " 1 . > 31 26 1 ..1 2 2 32 I i 33 2 J. 2 1 34 2 1 5 1 3a 1 1 5 36 Ij... 2 37 1 2 38 1 2 1 39 40 i 41 6 42 43 7 8 1 1 1 44 3 45 46 5 1 1 1 1 47 48 2 3 49 35 3 13 2 1 1 4 1 2 50 bl 52 1 1 53 54 55 56 57 58 59 1 60 61 76 5 23 2 1 81 1 9 7 3 35 104 8 16 14 3,613 5,838 376 REPORT OF THE COMMISSIONER OP LABOR. T/.m.i: -AVERAGE PREMIUM RATE CHARGED ON REAL ESTATE LOANS IX CERTAIN REPRESENTATIVE ASSOCIATIONS. States and terri- tories. Associations ^ -ith average premium rate per Ci nt on real estate loans. Mar- gin- al num- ber. Per annum. Under .50. .50 or un- der 1.00. 1.00 or un- der 1.50. 1.50 or un- der 2.00. 2.00 or un- der 2.50. 2.50 or un- der 3.00. 3.00 or un- der 3.50. 3.50 or un- der 4. CO. 4.00 or un- der 4.50. 4.50 or un- der 5.C0. 5.00 or un- der 5.50 5.50 or un- der 6.00. G.C0 or over. 1 LOCAL. o s 8 9 10 1 1 :;:;::i:: ,j " 1" 1" .j... 1 1 I i i 1 1 i Connecticut 2 4 1 1 I 1 i i i 1 I - 1 !"" ! Dist. of Columbia. 1 I 1 1 1 1 i 1 1 1 i i 11 [ i i i i 12 2 1 1 1 3 8 1 8 | 3 1 .11 2 ' 1 2 | 1 7 o 1 13 U 1 1 15 1 1 1 10 ::::i::::: 17 1 ... i ' ' i IS 1 3 6 3 G 2 1 i i ii 19 iii 20 Massachusetts 40 36 5 2 . 1 .1 J ' ' ! 21 1 lit L. 22 i i 1 2 23 1 1 1 j 1 1 24 1 2 i I 2 i ! I i 1 23 ] 20 i ...1 III. J 27 .1 J i 1 23 New Hampshire . . New Jersey 1 i 1 i i i i 1 I 29 30 5 « 9 5 M ! ! ! 2 31 4 7 8 15 13 | 1G 8| 4 5 »| 2; 32 33 I'll. ' 1 31 Ohio 1 14 1 ' 1 3 2 | 1 1 1 35 i 1 30 1 ! 37 38 Pennsylvania Rhode Island 41 3 32 2 17 29 SI 10 | 2 6 1 ' 7 5 13 1 39 ! ! 1 1 40 .... ( ... 1 l""' 1 41 . ...i i. .!. 1""' i " ■ "'" 43 111 |.""" i ! ■ 43 "Utah ! 1 1. 44 2 2 1 i 45 i 40 1 1 ' 1 ■17 1 ' 48 . .1 1 : ■ 1 Total NATIONAL. 102 44 CO i. 90 40 30 42 ' 15 10 13 | 15 | 8 | 3-i / ■ 40 1 1 1 1 1 SO '1 1 1 1 1 51 i l III 1 52 l 1 53 i 1 1 54 I 1 i 1 i 1 6 1 2 55 i l l M M 50 " 1""" "1 ' 1 1 57 t 1 l 1 1 ' j 58 i 1 1 .1 1 i ' ""1 " 50 l l 1 1.. 1 1 '"" 1 00 i ■ 1 I'll 01 i 1 1 ii 3 m : 1 1 i .... 'Ill m ! u . L... ! 1 ' 1 1. .1 m 1 1 1 j 1 1 I 1 1 | 66 1 1 1. 1 1 j CHAPTER IT. SPECIAL TABLES. 377 Taeijs O. ■AVERAGE PREMIUM RATE CHARGED ON REAL ESTATE LOANS IN CERTAIN REPRESENTATIVE ASSOCIATIONS. Associations tvith average prero ium r atQ per cent on real e. tate 1 jans. Total " asso- cia- tions. 23 4 32 125 42 15 21 20 21 31 i 031 429 81 71 131 20 29 237 115 72 82 30 349 7 GO 1 10 280 5 390 24 718 I 14 1,070 •18 1-1 01 39 5 70 14 54 39 u Gross. 1 None charg- ed. ! Not re- port- ed. ~4 30 73 38 1 18 22 15 28 4 441 409 6C G7 127 25 5 107 26 71 80 24 330 7 01 1 2 133 5 f9 21 5 089 1 12 467 Under 2.50. 2.50 or tin- der 5.00. 5.00 or un- der 7.50. 7.50 10.00 12.50 15.00 17.50 20.00 22.50 or or or or 1 or or or tin- un- nn- nn- un- nn- un- der der der der 1 dcr der der [0.00 12.50 15.00 17.50 20.00 22.50 25.00 1 25.00 or un- der 27.50. 27.50 or un- der 30. OC. 30.00 cr orer. i i l 1 1 i 1 1 .1 ....! 1 ! 1 j 1 1 1. ...1 ....1 1 1 1 M 1 2 1 10 1 5 1 2 3 3 3 16 2 i i 1 1 I -::! M 1 i 1 2 ::: j ;:. 1 1 M 1 i i 1 1 2 3 : ! I.i I . ...' ""1 1 1 .. | 3 1| 2 4 i 1 e 1 2 j 10 1 1 9 | 19 "1 1 10 1 10 | 15 1 8 25 19 i 9 2 2 C8 ....| 1 1 1 1 l 1 1 M M • i" 1 1 1 1 ' 1 1 1 1 1 ... 1 .-I l l 1 1 i i r ---j---- ,---• 1 1 1 1 2 1 i i 1 2 1 r":r:::. ■::::. 1 l 2 1 i 1 2 4 :i 32 20 ! 18 4 1 1 1 1 0; 3J 1 1 2 1 7 .. ii 1 ii | S3 | 51 53 j 10 1 3 1 7 ■■■■' 3 1 M 1 3 1 1 1 i "". :::::i::...: 4 1 i i 228 ii 1 ii | is | i 14 2 ii | 26 41 7 | 9 5 | 12 13 54 39 5 07 13 50 37 I"" 1 1 1 l 1 1 M l 1 1| 3 2 2 1 1 i 1 1 a 71 02 93 93 34 50 50 59 25 33 18 70 368 3,931 5,598 4 8 i 3 2 11 29 15 10 2 4 8 4 3 2 12 38 16 8 1 17 2 3 3 15 2 17 1 i '"'.'.'/.'.'.'. C.'.'. c~.~. 1 1 I.. 1 "" '.'.'.'.'J'.'.'.'.'.'.'.'.'.'. |::::::: '.'.'.'.'.''.'.'.V.i ■■■■-'■'■ ■ 15 2 ■! Mar- gin- al num- ber. 378 REPORT OF THE COMMISSIONER OF LABOR. Takle ©.—AVERAGE PREMIUM RATE CHARGED ON REAL, ESTATE LOANS IN CERTAIN REPRESENTATIVE ASSOCIATIONS— Concluded. States and terri- tories. Associations with average premium rate per cent on real estate loans. Mar- gin- al mini ber. Per annum. Under .50. .50 or un- der 1.00. 1.00 or un- der 1.50. 1.50 or un- der 2.00. 2.00 or ii li- der 2.50. 2.50 or un- der 3.00. 3.00 or un- der 3.50. 3.50 or un- der 4.00. 4.0.1 or un- der 4.50. 4.50 or un- der 5.00. 5.00 or un- der 5.50. 5.50 or un- der 6.00. 0.00 or over. xatioxal— eone'd. 1 1 2 1 1 1 1 1 d 1 1 2 5 7 - .. 1 1 Ohio 1 8 1 1 1 10 1 1 ! 11 ---------- i 1 12 1 1 13 Utah III 14 ' 1 15 [li 10 1 . I'll 17 1 1 1 Total 1 1 ! 1 1| 3| 1 oo ALL ASSOCIATIONS. 1 18 | j ' | 10 1 1 \ 20 i i ! 1 21 1 i 22 I ! 1 1 23 Connecticut 2 4 1 1 'III 24 I 1 25 Dist. of Columbia . 1 1 20 1 1 1 27 ! 1 28 1 i 1 20 2 1 1 1 3 8 1 | 8 3 1 5 I 3 1| 2 13 3 30 31 1 1 3 32 1 1 33 1 34 1 ! 1 35 1 3 3 2 1 1 30 .1 3 37 Massachusetts 40 30 5 2 j 38 1 1 39 i 40 1 1 1 41 2 .... 1 2 1 49, 43 44 45 New Hampshire .. 1 4 1 1 2 46 5 5 2 1 1 47 1 48 4 7 8 15 15 16 8 5 j 7 j 8 2 j 7 40 50 North Dakota 1 ! | " 51 52 Ohio 1 14 1 1 . 3 2 1 1 ! 1 1 j i Wi 1 1 1 "i i 54 05 Pennsylvania j 41 Rhode Island I 3 32 2 17 29 8 10 1 2 6 1 i J 7 5 U 1 50 " 1'" 1 57 | r.s 1 no Texas 1 60 Utah 1 01 2 2 ! 1 02 "Washington I 03 1 64 1 1 05 1 Total 1 15 i i 96 102 44 60 46 30 42 17 16 21 9 55 CHAPTER IL SPECIAL TABLES. 379 Table ©.—AVERAGE PREMIUM RATE CHARGED ON REAL ESTATE LOANS IN CERTAIN REPRESENTATIVE ASSOCIATIONS— Concluded. Associations -with, average premium rate per cent on real estate loans. Total asso- cia- tions. Gross. None charg- ed. Not re- port- ed. Mar- gin- al num- ber. Under 2.50. 2.50 or un- der 5.00. 5.00 or un- der 7.50 7.50 or un- der 10.00 10.00 or un- der 12.50 12.50 or un- der 15.00 15.00 or un- der 17.50 17.50 or un- der 20.00 20.1)0 or un- der 22.50 22.50 or un- der 25.00 25.00 or un- der 27.50. 27.50 or un- der 30.00. 30.00 or over. 4 4 1 2 28 1 1 3 3 3 3 17 2 1 7 3 2 3 1 i i 2 1 1 1 1 11 1 1 3 3 2 3 17 2 1 7 3 2 3 3 1 4 5 i 6 1 y 7 1 8 .. .1 1 9 1 ""1 10 1 . 11 1 12 1 13 \ 14 15 1 16 1 17 1 i 1 1 2 203 240 - 1 26 4 80 81 42 1 18 25 17 39 4 470 424 72 68 143 27 5 167 26 74 95 26 353 8 65 1 2 133 5 110 22 6 692 1 15 469 27 4 32 133 46 15 21 29 23 43 4 069 445 89 72 148 28 29 240 115 75 97 32 366 8 70 1 17 288 5 418 25 6 721 1 17 1,079 6 48 17 78 41 6 83 17 56 42 6 18 19 1 1 1 4 1 20 1 1 2 10 5 3 3 3 18 2 1 4 21 22 1 1 2 1 23 ' 24 1 1 t 25 1 2 3 26 27 28 1 3 2 i 1 1 8 2 10 1 1 1 » 10 10 1 1 10 10 15 8 20 19 4 B 2 2 68 28 30 1 31 i 1 32 1 1 1 33 1 1 34 1 35 1 i 36 1 1 37 ' : 1 1 38 i 39 1 1 1 1 1 1 2 1 40 1 2 41 I 42 1 ... ^ 1 ! 1 2 43 1 44 1 23 32 2 26 4 18 4 a 1 3 1 1 45 1 2 1 8 46 47 14 11 37 54, 53 10 3 7 3 1 1 1 3 3 48 49 1... 50 1 1 4 51 52 2 228 53 4-2 19 18 4 14 2 11 20 41 7 9 5 12 54 55 1 46 16 71 41 6 74 16 52 40 6 56 1 57 1 1 1 1 3 5*) 59 60 2 2 1 61 1 62 1 1 63 64 65 82 71 93 80 98 34 00 50 59 25 33 18 71 370 4,134 5,838 380 REPORT OF THE COMMISSIONER OP LABOR. Table p.— LOANS TO OTHER THAN SHAREHOLDERS. States and territories. LOCAL. Alabama Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentiicky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahomai Oregon Pennsylvania... Rhode Island South Carolina .South Dakota Tennessee Texas Utah Virginia "Washington West Virginia "Wisconsin "Wyoming Total NATIONAL Alabama California Colorado District of Columbia — Florida Georgia Illinois Indiana Iowa Kansas Kentucky Louisiana'. Maryland Michigan Minnesota Mississippi Missouri Montana Nebraska New Hampshire New Jersey New York Total associa- tions. Loans to other than shareholders. 32 125 •J 2 35 21 20 21 31 i 031 ■120 81 71 131 20 20 237 115 72 S2 30 349 7 00 1 10 300 24 5 718 1 14 ,076 Asscci- Associa- ations tions reporting which as to. ! have. I 25 71 112 li 225 302 2 837 1 7 12 1 •1 2,200 | Avcrago size. $2, 400 27, 303 103 28 1,205 508, 3C8 41, 400 1,158,037 435, 900 "7,676' 2, 328, 021 51, 200 187 103 1,002 "i"«9 1,817 "~308 1,133 CHAPTER II. SPECIAL TABLES. 381 Table P.— LOANS TO OTHER THAN SHAREHOLDERS— Concluded. Total associa- tions. I oans to other than shareholder £ States and territories. Associa- tions reporting as to. Associa- tions which have. Number. Amount. Average s:ze. national — eon eluded. 1 1 3 3 i 3 17 2 1 7 3 2 3 North. Dakota Ohio Oregon 1 I i 1 TTtah Total 240 45 ALL ASSOCIATIONS. 27 "4 32 133 40 15 21 20 23 43 4 069 445 80 72 146 28 29 240 115 75 97 32 306 8 70 1 17 288 5 413 25 6 721 17 1,079 G 48 17 78 41 G 83 17 56 42 5 1 77 i 15 8 G 7 5 i'" ' 1 1 1 1 1 1 1 1 r 1 i 1 220 20 24 c a 3 25 74, 112 5 31 13 1 6 1 1 1 3 140 $2, 400 27, 303 ."11, 200 187 ! ! 1 i " 'l 1 1 1 100 100 1 1 1 ..-..-----..— - 1 1 1 » 15,274 1,091 1 55 72, 703 1,322 15 220 1 20 342 568, 308 1,662 384 6 28 41,400 1,479 1 30 1 1,205 1, 158, 037 961 2 868 6 1 7 20 240 435,060 1,817 1 23 7,076 308 1 12 1 G 4 1 ! 1 1 1 \ 5,838 2, L>45 76 2.050 2, 328, 621 1,133 382 REPORT OF THE COMMISSIONER OF LABOR. Table ^.—ASSOCIATIONS TAKING MONEY ON DEPOSIT. {In this table owing to tho lack of space several rates which were chained by a very few associations are Dot shown, and hare been tabulated as not reported. A very great part of the associations for which the interest rate paid on money on deposit is given as not reported aro thoso where the rates varied according to the timo of deposit or for some other reason.] Total asso- cia- tions. Associations tailing money on deposit. Yes. Ko. Not re- ported. Paying interest at rate of — 3 per eent. 4 per cent. 5 per cent. 5| per cent. 6 per cent. 7 per cent. 8 per cent. 9 per eent. Not re- ported. LOCAL. 23 4 32 125 42 15 21 26 21 31 4 631 429 81 71 131 26 29 237 115 72 82 30 349 7 60 1 IS 286 5 390 24 5 718 1 14 1,076 6 •'.8 14 01 39 5 76 14 54 39 6 1 1 3 5 5 1 20 9 2 •> " 1" 1 2 i 24' 29 9' 12 1 1 6 3 1 1 3 1| 6 9 ■> 1 ' 1" t i R 1 R ...t . 1 | 1 1 1 ... . 1 ' 1 1 1 ' 9, 2 9 2 1 1 4 2 1 1 1 1 1 219 86 5 34 5 20 2 .. ( .. .1 .1 . 71 46 28 2 37 3 1 ... 1 1 40 S 14 19 4 ] 4 3 1 46 3 2 8 23 3 1 I 1 62 3 4 4 12 75 7 4 1 ... 7L._ 1 2 1 2 1 1 . 1 1 Kentucky "l 4 1 14 1 1 1 1 152 4 1 62 1 5 ! 29 12 15 1R4 ? 5 2 1 6 29 3 47 2 2 2 4 2 6 1 1 18 2 7 2 6 1 2 8 2 :;■ 5 31 i i i i "( "I --,- : " " 1""" 11 153 i t 1 38 5 1 29 15 i l 7 2 8 1 1 i 1 21 175 25 3 1|... ij... 2 2 9 1 21 1 5]... Ohio 35 4 5 ii 1 1 91 11 4 1 11 i 1 Pennsylvania 2 351 9 54 15 1 80 ... 2: 21 16 ■j 1 5 1 2 1 1 5 4 4 3 575 17 6 41 7 1 i 3 1 1 1 1 26 8 i Utali ll.-.l... 2 1 "s 3 1221, 17 5 2 1 1 i o I 1 1 1 1 West Virginia 1 1 1 13 ! 2 7 i 2 | i Total 5SC 30 8 G8 1 2 107'l20 1 1 31 1 2 1 1 20 121 2 8 4 235| 35 85 16 1 CHAPTER III. PREMIUM PLANS. 389 LOCAL ASSOCIATIONS OPERATING UNDER THE VARIOUS PREMIUM PLANS— Cont'd. States and terri- A ssociations opera ing under plan — tories. 25 20 27 28 3 20 30 31 32 33 34 35 30 37 38 39 40 41 42 43 44 45 46 47 48 4 2 3 7 7 8 3 1 60 97 11 11 30 2 1 1 8 1 1 1 1 1 1 ... 1 1 5 3 ... 1 40 103 18 3 8 1 lj... 1 3 1 1 1 1 2 1 1 1... 1 1 5 ' 1 1 27 . J...I. . J...L. J. .. 1 11 -1 * 1 I 1 .1 1, 100 20 13 1 i 11 9 8 i l 1 .1 1 ...|...l :::i:::i:::::.c: [ ...!.. . . 1 3 38 l | 1 54 .. r . r .. 1 i 2 9 I . . i 1 1 j". 2 48 2 111 1 1 6 i 1 1 1 a | i ::.i:_. i 7 ...i... 1 1 j ! i .i Ohio 1 3 4 220 93 — ! 224 -I 18 ! ... 1 1 l| 8 77 2 1 1 295 5 3 3 13 2 1 1 'so 1 ::: 30 5 11 1 ... 12 ! 1 1 1 ?, i 1 1 3 1 1 2 1 ie r 5 20 1 11 1 . . .' . 1 1 1 1 C 4 122 r Hi 14 1 267 5 Total 1 20 1 13 8 83 4 45 5 2 1 4 ] 2 2 5 390 REPORT OF THE COMMISSIONER OF LABOR. LOCAL ASSOCIATION'S OPERATING UNDER THE VARIOUS PREMIUM PLAN'S— Conc'd. Associations operating under plan — Total States and terri- tories. 49 50 51 52 53 54 55 50 57 58 59 eo 61 62 63 64 05 66 67 68 Not re- port- ed. asso- cia- tions. 1 e 3 7 5 1 2 5 1 "T" 1 16 1 6 1 " 1 31 1 2 3 1 1 1 1 1 3 1 '1 1 1 1 ""1"" 1 ...1... 1 ...1--- 1 1 1 1 1 1 1 1 1 4 !"■■ 1 I 1 i 1 1 i \ i i 1 1 i 1 1 24 o 1 1 1 ---|---|-' T-— - l i Ohio 1 ■-■]■--,--- 1 "! 1'" i I i 1 24 2 9 1 1 4 l l 1 1 ' i 1 48 1 1 14 | [ i | 1 i Utah '. 1 1 1 i I 1" 1 1""" ""1 '" 14 1 1 5 4 2 t 26 6 1 9 3 , Total 1 6 1 3 7 G ll 12 5 59 1 2 11 5,598 CHAPTER III. PREMIUM PLANS. 391 NATIONAL ASSOCIATIONS OPERATING TJNDEE THE VARIOUS PREMIUM PLANS. [There aro no national associations operating under the omitted numbers.] Associations operating under plan — States and terri- tories. 1 7 8 9 16 20 21 27 28 30 38 39 41 44 45 Not re- port- ed. asso- cia- tions. 1 2 1 8 3 2 4 8 1 1 1 1 3 2 2 1 7 19 10 5 . ... 1 3 1 3 5 1 1 i 1 1 1 2 15 1 3 2 13 ^1 1 1 1 1 Mississippi 1 1 1 2 2 1 10 3 17 1 2 1 1 4 2 1 4 1 New Jersey 1 2 1 2 1 17 1 1 1 1 28 1 1 3 3 2 2 5 1 Ohio 3 1 | 1 1 1 3 1 1 3 8 1 17 1 2 Utah 1 4 2 2 1 1 2 7 1 2 1 1 .... 1 3 Total 17 1 2 3 3 8 3 44 136 1 1 1 1 4 7 2 240 PLAN 1. In this plan there is no auction of money or bidding for loans. Loans are usually awarded to members in the order of their applications or by lot.. The borrower makes his regular payments of dues and interest on his loan until the shares pledged for such loan have reached matur- ing value, unless the loan is previously settled; or the number and the amount of his payments are fixed by the rules of the association. The number of associations operating under this plan is as follows : Local. — Alabama, 2; Arkansas, 4; California, 3; Colorado, 4; Con- necticut, 2; Georgia, 4; Illinois, 74; Indiana, 46; Iowa ; 28; Kansas, 2; Kentucky,. 37; Maine, 1; Maryland, 152 ; Massachusetts, 4; Minnesota, 2; Missouri, 6; Nebraska, 5; New York, 1; North Carolina, 24; Ohio, 35; Oregon, 1; Pennsylvania, 91; South Carolina, 18; Texas, 28; Utah, 2 ; Virginia, 8 ; West Virginia, 1 ; Wisconsin, 1 ; total local associations, 586. National.— Colorado, 1; Georgia, 3; Illinois, 2; Kentucky, 2; Mis- sissippi, 1 ; Missouri, 1 ; Montana, 1 ; New Jersey, 1 ; New York, 2 ; North Carolina,!; Texas, 1; Wisconsin,!; total national associations, 17. 392 REPORT OF THE COMMISSIONER OF LABOR. t PLAN 2. Under this plan there is no premium, but interest on the loan, whether at a fixed rate or at a rate determined by bid, is paid by the borrower in advance, either for a fixed period or for a period , covered by bid in cases of competition for loans. The borrower receives the remainder and pays no further interest until the interest paid in advance has been consumed. No part of the interest paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration : A member secures a loan on five shares of a maturing value of $200 each, on which he agrees to pay interest at 9 per cent per annum for two years in advance. He receives $S20, but gives security for $1,000. During the first two years he pays only his regular dues. At the expiration of two years his monthly payments are as follows: Dues, at $2 a share, $10; interest on $1,000 at 9 per cent per annum, $7.50; total, $17.50. These payments continue until the loan is settled by the maturity of the shares or by repayment. The number of associations operating under this plan is as follows: Local. — California, 2; Georgia, 2; Illinois, 3; Kentucky, 1; Mary- land, 1; New Jersey, 1 ; Oregon, 13,; Pennsylvania, 4; South Carolina, 3; Virginia, 1; Washington, 1; total local associations, 30. PLAN 3. Under this plan there is no premium. The funds of the association are loaned to the stockholder who bids to make the greatest number of payments of dues and interest in advance for the right of precedence in obtaining such loan. The borrower receives the remainder and pays no further dues and interest until the amount of such advance pay- ments has been consumed. Illustration : A member secures a loan on one share of aniaturing value of $100, having agreed to pay dues and interest for twenty weeks in advance. Dues are 25 cents a week and interest at the rate of G per cent per annum, payable for forty-eight weeks each year, is 12£ cents a week. The borrower receives $100, less $5 dues, and $2.50 interest, the amount covered by his bid, or a net amount of $92.50. During the first twenty weeks of his loan he is exempt from all payments. At the expiration of this period he begins the payment of his regular monthly instalment dues and interest on his loan, which he continues until the loan has been satisfied. The number of associations operating under this plan is as follows : Local. — Kentucky, 4; Ohio, 4; total local associations, 8. PLAN 4. Under this plan there is no premium. The borrower pays interest on his loan in regular instalments, but the principal is reduced period- CHAPTER III. — PREMIUM PLANS. 393 ically by tlie amount of dues paid in by the borrower, and interest is charged on the balance only. Illustration : A shareholder having borrowed $1,000 on ten shares of a maturing value of $100 each at 8 per cent per annum interest pays, during the first year, in addition to his weekly dues of 25 cents a share, $80 interest in monthly instalments of $6.66§. The dues paid by him during the year amounting to $130 are deducted from the principal at. the end of the year, leaving $870 as a balance of principal on which he pays $09.60 interest in monthly instalments of $5.80 each during the second year, the amount on which interest is paid being in this way reduced each year until the loan has been satisfied. The number of associations operating under this plan is as follows : Local. — Illinois, 1; Kentucky, 1; Maryland, 62; Minnesota, 4; total local associations, 68. PLAN 5. / Under this plan there is no premium. The principal is reduced periodically by the amount of dues and interest paid by the borrower, and interest is charged on the balance only. Illustration: A shareholder borrows on one share $200, which he receives in full. His first monthly payment will be dues $l,-and interest on $200 at 4£ per cent per annum, 75 cents. The second month he pays interest on $198.25, the interest-bearing principal being reduced by $1.75, the amount of dues and interest paid during the preceding month. The amount on which interest is paid being in this way reduced each month until the loan has been satisfied. The number of associations operating under this plan is as follows : Local. — Pennsylvania, 2; total local associations, 2. PLAN 6. Loans are awarded to shareholders bidding the highest premium. The amount thus bid is deducted from the maturing value, and the bor- rower receives the remainder. He gives security for the gross amount and pays interest thereon. No part of the rjremium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration : A loan is made on five shares of a maturing value of $200 each at a premium of 5 per cent, or $50. The borrower receives $950, and thereafter pays interest at the rate of 6 per cent per annum on $1,000, in monthly instalments of $5 each, in addition to his monthly dues on five shares of stock at $1 a share. The number of associations operating under this plan is as follows: Local. — Alabama, 6; Arkansas, 5; California, 24; Colorado, 9; Con- necticut,!; Delaware, 8; Florida, 9; Georgia, 9; Indiana, 40; Iowa, 3; Kansas, 14; Kentucky, 19; Louisiana, 4; Maine, 1; Maryland, 4; Min- nesota, 2; Mississippi, 6; Missouri,!; Montana,!; Nebraska, 18; New 394 REPORT OF THE COMMISSIONER OF LABOR. Hampshire, 14; New Jersey, 153; New York, 175; Ohio, 5; Oregon, 1 Pennsylvania, 11 ; South Carolina, 5; South Dakota, 1; Tennessee, 2 Texas, 1; Utah, 1; Virginia, 5; Washington, 4; West Yirginia, 6 Wisconsin, 4; Wyoming, 3; total local associations, 575. National. — Florida, 1; total national associations, 1. PLAN 7. Loans are awarded to shareholders bidding the highest premium. The premium bid is deducted from the maturing value, the borrower receiving the remainder. He gives security for the gross amount and pays interest thereon. A part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares, determined by the length of time the scheme of the association assumes it will take shares to mature. Illustration : A shareholder secures a loan on one share of a matur- ing value of $200 at 10 per cent premium. Ho receives $180 in cash and pays interest on $200 at 6 per cent until his loan is satisfied. His monthly payments are as follows: Dues, $1; interest, $1. It is assumed his shares will mature in one hundred, months. If he repays his loan before maturity, he will be allowed one one-hundredth part of the premium paid by him in advance for each remaining month. The number of associations operating tinder this plan is as follows : Local. — Alabama., 7; Arizona, 2; Arkansas, 7; California, 29; Colo- rado, 12; Connecticut, 1; Delaware, 8; Florida, 2; Georgia, 2; Idaho, 1; Illinois, 219; Indiana, 86; Iowa, 5; Kansas, 34; Kentucky, 5; Louisi- ana, 20; Maryland, 1; Michigan, 29; Minnesota, 12; Mississippi, 15; Missouri, 184; Montana, 2; Nebraska, 31; New Jersey, 38; New York, 25; North Dakota, 2; Ohio, 9; Oklahoma, 1; Pennsylvania, 351; South Carolina, 17; South Dakota, C; Tennessee, 41 ; Texas, 7; Yirginia, 2; Washington, 1; Wisconsin, 3; Wyoming, 3; total local associations, 1,220. National. — Georgia, 2; Illinois, 1; Minnesota, 1; South Dakota, 1 ; Virginia, 1; total national associations, 6. PLAN 8. Loans are awarded to shareholders in the order of their applications or by lot. A fixed premium is deducted from the loan in advance, the borrower receiving the remainder. He gives security for the gross amount, and pays interest thereon either for a fixed period or until his loan is satisfied, according to the rules of the association. No part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the expiration of the period or the maturity of the shares. Illustration: A shareholder secures a loan on two shares of stock of a maturing value of $500 each. The bylaws of the association provide for a uniform premium of $10 on each share. In this case the borrower receives $980 cash, but gives security for $1,000 and pays interest CHAPTER III. PREMIUM PLANS. 395 thereon. In addition to his weekly dues of $2 he pays $1.20 interest per week. The number of associations operating under this plan is as follows: Local. — Arkansas, 3; California, 6 ; Colorado, 3; Florida, 1; Idaho, 2; Indiana, 3 ; Iowa, 1; Kentucky, 14; Maryland, 5; Missouri, 1; New Jersey, 5;. New Mexico, 1; New York, 29; Pennsylvania, 9; Virginia, 17; West Virginia,. 5; Wisconsin, 2; total local associations, 107. National. — Alabama, 1 ; Indiana, 1; total national associations, 2. PLAN 9. Loans are awarded to shareholders in the order of their applications or by lot. A fixed premium is deducted from the loan in advance, the borrower receiving the remainder. He gives -security for the gross amount, and pays interest thereon, either for a fixed period or until his loan is satisfied. A part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the expira- tion cf the period or the maturity of the shares. Illustration : A shareholder secures a loan on five shares of a matur- ing value of $100 each at a fixed premium of 20 per cent. He receives in cash $400, but gives security for $500 and pays interest on the same. His monthly payments are as follows: Dues at 50 cents a share, $2.50; interest on $500 at 8 per cent per annum, $3.33^; total payments each month, $5.83J. If the loan is repaid before the expiration of the eighth.year after the issue of the series of stock on which the loan has been made, one thirty-second part of the premium paid will be refunded for each quarter of a year of the said eight years then unexpired. The number of associations operating under this plan is as follows : Local. — Arkansas, 5; Colorado, 2; Illinois, 46; Indiana, 3; Iowa, 2; Kentucky, 1; Louisiana, 1; Michigan, 5; Minnesota, 2; Missouri, 2; New York, 3; Pennsylvania, 54; Washington, 1; Wisconsin, 2; total local associations, 129. National. — Illinois, 1; Louisiana, 1; Tennessee, 1; total national associations, 3. PLAN 10. The premium, whether a fixed rate or determined by bid, is deducted from the loan in advance. The borrower receives the remainder and gives security for the gross amount, on which he pays interest. The interest is reduced periodically by crediting the principal with the amount of instalment dues paid in, and charging interest on the bal- ance only. Illustration : A shareholder secures a loan on five shares of a matur- ing value of $200 each at a premium of 10 per cent. He receives $900, but gives security for $1)000, on which he pays interest at the rate of 6 per cent per annum. His payments during the first three months are as follows: Dues on five shares at $1 per share a month, $15; interest 396 REPORT OF THE COMMISSIONER OF LABOR. on $1,000 for three months at 6 per cent per annum, §15; total for first three months, $30. During the next, and each succeeding three months, the sum total of the dues paid in by the borrower on his shares during the preceding three months is deducted from the principal, and he pays interest on the remainder. His payments during the second three months are: Dues, $15; interest on $985 for three months, $14.77 J; total, $29.77 J. The amount on which he pays interest is thus reduced every three months until the loan is satisfied. The number of associations operating under this plan is as follows: Local. — District of Columbia, 1; New Jersey, 15; Pennsylvania, 15; total local associations, 31. PLAN 11. The premium bid by the borrower is deducted from the loan in ad- vance, the borrower receiving the remainder. He gives security for the gross amount and paysinterest thereon. He has the option of not par- ticipating in the profits, and in lieu thereof has his interest reduced periodically by crediting the principal with the amount of dues paid in and paying interest on the remainder only. One one-hundredth part of the premium paid in advance is returned to the borrower for each unexpired month in case of the repayment of the loan before the ma- turity of the shares. Illustration I: The borrower participates in the profits. A share- holder secures a loan on one share of a maturing value of $200 at a premium of 10 per cent; the borrower then receives $180. He gives security for $200, on which he pays interest. His monthly payments are as follows: Dues, $1; interest on $200 at per cent per annum, $1. Illustration II : The borrower who selects the interest-reduction plan does not participate in the profits. Takin g the above loan, the monthly payments during the firstyear would be as follows : Dues, $1; interest on $200 at 6 per cent per annum, $1; total payments each month during the firstyear, $2. At the end of the year the principal is credited with the dues paid in during the year, reducing the interest-bearing debt to $188, on which the borrower pays interest during the second year, his monthly payments being as follows: Dues, $1; interest on $1S8 at C per cent per annum, 94 cents; total payments each month during the second year, $1.94. The amount on which the borrower pays interest is thus reduced annually until the loan has been repaid. The number of associations operating under this plan is as follows: Local. — Pennsylvania, 1; total local associations, 1. PLAN 12. Loans are awarded to shareholders bidding the highest premium. The premium bid by the borrower together with the interest for the full term for which the loan has been made are deducted from the loan, the borrower receiving the remainder. He repays his loan in equal CHAPTEK III. — PREMIUM PLANS. 397 monthly instalments in the time specified for the loan. No part of the interest or premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration: A member secures a loan on forty shares of a maturing value of $25 each the first month of a new series at a premium of 5 per cent. It is estimated that the shares "will require seventy-six months to mature. The, interest on $1,000- for this period, fixed by the asso- ciation at $428, and the premium bid by the borrower, amounting to $50, are deducted from the loan, leaving the borrower $522. His monthly payments then consist of $10 dues until maturity of his shares. The. number of associations operating under this plan is as follows: Local. — Arkansas, 2; total local associations, 2. PLAN 13. This plan is in every respe'et similar to plan 12, except that a part of the interest paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. The number of associations operating under this plan is as follows: Local. — Virginia, 1; total local associations, 1. PLAN 14. Loans are awarded to shareholders bidding the highest premium. The premium, if any, is deducted from the loan, the borrower receiving the remainder. He gives security for the gross amount of the loan, and pays interest thereon. The premium bid determiues the time for which the loan is to run, the time decreasing as the premium increases. No part of the premium is returned to the borrower in case of the re- payment of the loan before the expiration of the time for which it is made. Illustration : Weekly payments on each loan of $100 are as follows : Dues, 25 cents; interest, 15 cents; total, 40 cents. On a loan made at par these payments continue for eighty-five months; on a loan made at 10 per cent premium, payments continue seventy-five months, and so on reducing the time one month for each $1 of premium bid, except that on loans running for less than four years one month is deducted for each $1.25 of premium bid. The number of associations operating under this plan is as follows: Local. — Kansas, 1; total local associations, 1. PLAN 15. Loans are awarded to shareholders bidding the highest premium. The premium is deducted from the loan in advance, the borrower receiv- ing the remainder. . He pays interest only on the amount actually received. No part of the premium paid in advance is returned to the 398 REPORT OF THE COMMISSIONER OF LABOR. borrower in case of the repayment of the loan before the maturity Of the shares. Illustration : A member obtains a loan on one share of a maturing value of $100 at 10 per cent premium. He receives $90 cash and pays interest on this amount at the rate of 6 per cent per annam. His pay- ments are as follows: Dues per week, 25 cents; interest per month, 45 cents. These payments continue until the share has reached the matur- ing value of $100. The number of associations operating under this plan is as follows : Local. — Indiana, 4; Iowa, 1; South Carolina, 1; "Virginia, 1; West Virginia, 13; total local associations, 20. PLAN 16. Loans are awarded to shareholders bidding the highest premium. The amount thus bid is deducted from the loan, the borrower receiving the remainder. The borrower pays interest only on the amount actually received. A part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration : A shareholder secures a loan on one share of a maturing value of $200 at 10 per cent premium. He receives $180 and pays interest on this amount. His monthly payments are as follows: Dues, $1; interest on $180 at 6 per cent per annum, 90 cents. These pay- ments continue until the share has reached the maturing value of $200. One one-hundredth part of the premium paid in advance is returned to the borrower for each unexpired month in case of the repayment of the loan before the maturity of the shares. The number of associations operating under this .plan is as follows: Local. — Arkansas, 2; Illinois, 8; Indiana, 23; Iowa, 3; Kansas, 1; Mississippi, 2; New York^ 1; Pennsylvania, 80; Tennessee, 1; total local associations, 121. National. — Tennessee, 3; total national associations, 3. PLAN 17. Loans are awarded to shareholders in the order of their applications or by lot. The premium, a fixed rate, is deducted from the loan in advance, the borrower receiving the remainder. He gives security for the gross amount, but pays interest only on the amount actually received. No part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration: A member secures a loan on one share of a maturing value of $100. A fixed premium of 10 per cent is deducted in advance, the borrower receiving $90, on which he pays interest at the rate of 8 per cent per annum. His monthly payments areas follows: Dues 50 cents; interest, GO cents. The number of associations operating under this plan is as follows: Local. — Iowa, 2; total local associations, 2. CHAPTER III. PREMIUM PLANS. 399 PLAN 18. Loans are awarded to shareholders in the order of their applications or by lot. A fixed premium is deducted from the loan in advance, the borrower receiving the remainder. He gives security for the gross amount, but pays interest only on the amount actually received either for a fixed period or until his shares mature. A part of the premium paid in. advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration : A shareholder secures a loan on one share of a maturing value of $200. A fixed premium of $10 is deducted in advance, the borrower-receiving $190, on which he pays interest at the rate of 6 per cent per annum. His payments are as follows: Dues per week, 50 cents ; interest per quarter, $2.85. The number of associations operating under this plan is as follows: Local. — Indiana, 7; New York, 1; total local associations, 8. PLAN 19. Loans are awarded to shareholders bidding the highest premium. The premium is deducted from the loan in advance, the borrower receiv- ing the remainder. He pays interest only on the amount actually received. The principal is reduced periodically by the amountof instal- ment dues paid in, interest being charged only on the balance. A part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration : A shareholder secures a loan on one share of a maturing value of $200, at a premium of $20. The borrower receives $180, on which he pays interest at the rate of 6 per cent per annum. The principal is reduced annually by tbe amount of dues paid in, and inter- est is charged on the balance remaining at the end of each year. The monthly payments for the first year are as follows: Dues, $1; interest on $180 at 6 per cent per annum, 90 cents. For the second year : Dues, $1 ; interest on $168 at 6 per cent per annum, 84 cents. The amount on which the borrower pajs interest is thus reduced annually until the loan has been repaid. The number of associations operating under this plan is as follows: Local. — Minnesota, 2; 'Pennsylvania, 2; total local associations, 4- PLAN 20. Loans are awarded to shareholders bidding the highest premium. The borrower receives the full amount of his loan and pays interest thereon. The premium is divided into a certain'number of equal parts, usually into as many parts as the scheme of the association assumes it will take months or other periods of time for shares to mature. These premium instalments are paid periodically, usually at the same time with the dues and interest. They continue until the entire amount of 400 REPORT OF THE COMMISSIONER OF LABOR. the premium has been paid, after which the borrower pays only dues and interest until the loan has been settled either by repayment or by the maturity of the shares. Illustration: A shareholder secures a loan of $200 at a premium of 5 per cent, and, assuming that it will take one hundred months for the shares to mature, his monthly payments for one hundred months are as follows: Dues, $1; interest on $200 atO per cent per annum, $1; pre- mium, one one-lmndredth part of $10, 10 cents; total payments each month, $2.10. The number of associations operating under this plan is as follows: Local. — Arizona, 2; California, 1; Colorado, 1; Connecticut, 3; Georgia, 1; Illinois, 62; Indiana, 3; Iowa, 4; Kansas, 4; Kentucky, 6; Michigan, 5; Minnesota, 29; Mississippi, 3; Missouri, 47; Montana, 2; Nebraska, 2; New Jersey, 7; New Mexico, 2; New York, 8; North Dakota, 2; Ohio, 5; Pennsylvania, 21; South Dakota, 3; Tennessee, 1; Virginia, 2; West Virginia, 2; Wisconsin, 7; total local associa- tions, 235. National. — Illinois, 3; Michigan, 1; Missouri, 2; Washington, 1; Wisconsin, 1 ; total national associations, 8. FLAN 21. Loans are awarded to shareholders in the order of their applications or by lot at a fixed premium. The borrower receives the full amount of his loan and pays interest on the same. The premium is divided into a certain number of equal parts, usually into as many parts as the scheme of the association assumes it will take months or other periods of time for shares to mature. These premium instalments are paid periodically, usually at the same time with dues and interest. They continue until the entire amount of the premium has been paid, after which the borrower pays only dues and interest until the loan has been settled by repayment or by the maturity of the shares. Illustration: A loan of $1,000 is awarded to a member at a fixed premium of 25 per cent. The premium is divided into ninety-six equal parts; one of such equal parts is paid monthly at the same time with dues and interest. The monthly payments are as follows : Dues on five shares at $1 a share, $5; interest on $1,000 at 8 per cent per annum, $6.G6§; premium, $2.60. These payments continue until the loan has been settled, either by repayment or by reason of the shares having reached the full value of $200 each. The number of associations operating under this plan is as follows : Local.— California, 1; Illinois, 12; Iowa, 2; Kansas, 1; Minnesota, 7; Missouri, 8.; New Jersey, 1; New York, 2; North Dakota, 1; total local associations, 35. NATIONAL. — Illinois, 1; Missouri, 1; New York, 1; total national associations, 3. CHAPTER III. — PREMIUM PLANS. 401 PLAN 22. Loans arc awarded to shareholders bidding the highest premium. The total amount of the premium bid is divided into a certain number of equal parts, usually into as many parts as the scheme of the associ- ation assumes it will take months or other periods of time for shares to mature. A certain number of those premium instalments are deducted from the loan in advance, the borrower receiving the remainder. He gives security for the gross amount and pays iuterest on the same. The payment of the remaining instalments begins either immediately or at the expiration of the period for which the premium was deducted and continues until the entire amount of the premium has been paid, after which the borrower pays only dues and interest until the loan has been settled either by repayment or by the maturity of the shares. Illustration: On a loau on five shares of a maturing value of $200 each, at a premium of 30 per cent, the total premium of $300 is divided into one hundred equal parts of $3 each. Twelve of such parts are deducted from the amount of the loan, leaving the borrower $904. The payments each mouth for eighty-eight months are as follows : Dues at $1 a share, $5 ; interest on $1,000 at G per cent per annum, $5 ; premium, $3 ; total, $13. If at the end of eighty-eight months the shares have not matured the borrower continues to pay dues and interest to maturity. The number of associations operating under this plan is as follows: Local. — California, G; Illinois, 75; Missouri, 2; Ohio, 1; South Dakota, 1 ; total local associations, 85. PLAN 23. Loans are awarded to shareholders in the order of their applications or by lot at a fixed premium. Part of the premium is deducted from the loan in advance, the borrower receiving the remainder. He gives security for the gross amount and pays interest on the same. The balance of the premium is paid in equal instalments, usually at the same time with dues and interest, payment beginning cither at once or upon the expiration of the period for which the premium was deducted, and continuing during the entire term of the loan or ceasing at the end of a fixed period, after which the borrower pays only clues and interest until the loan has been settled either by repayment or by the maturity of the shares. Illustration: A member secures a loau on five shares of a maturing value of $200 each, at a fixed premium of 30 per cent, or a total ot $300. Ten per cent of the premium, or $30, is deducted from the amount of the loan, leaving the borrower $970. The balance of the premium, $270, is divided into one hundred equal parts of $2.70 each. The monthly payments are as follows: Dues at $1 a share, $5; iuterest on $1,000 at G per cent per annum, $5; premium, $2.70; total, $12.70. H. Ex. 209 2G 402 REPORT OF THE COMMISSIONER OP LABOR. If, at the end of one hundred mouths, the shares have not matured. the borrower continues to pay dues and interest to maturity. The number of associations operating under this plan is as follows: Local. — California, 9; Illinois, 7; total local associations, 16. PLAN 24., Loans are awarded to shareholders bidding the highest premium. The total amount of the premium bid is divided into a certain number of equal parts. A certain part of the premium and the interest on the loan for a certain period are deducted in advance, the borrower receiving the remainder. During the period covered by the prepay- ment of the premium and interest the borrower pays only his regular dues, but at the expiration of this period, in addition to his dues, and at the same time, he pays one of the remaining premium instalments and interest on his loan. Illustration : A member secures a loan on ten shares of a maturing value of $100 each, at 40£ per cent premium. Two-tenths of the premium together with the interest for one year at the rate of GO cents a share per month are deducted from the loan, leaving the borrower $847. During the first year of his loan he pays only his regular dues of 50 cents a share per month. After the first year his monthly pay- ments are as follows: Dues, $5; interest, $6; and premium, $3.75, being one one-hundred-and-eighth of the premium bid by him upon the purchase of his loan. The number of associations operating under this plan is as follows: Local. — Utah, 1; total local associations, 1. PLAN 25. The premium, whether a fixed rate or determined by bid, is divided into a certain number of parts, usually into as many parts as the scheme of the association assumes it will take months or other periods of time for shares to mature. These premium instalments are paid periodi- cally, usually at the same time with dues and interest. They continue until the entire amount of the premium has been paid, after which the borrower pays only dues and interest, until the loan has been settled by repayment or by the maturity of the shares. The borrower receives the full amount of the loan, and pays interest on the same; but the principal is reduced periodically by the dues paid in, and interest is charged on the balance only. Illustration: A member secures a loan on live shares of a maturing value of $200 each, at a premium of $90. Assuming that it will take ninety months for the shares to run to maturity, the premium is divided into ninety equal parts, one of which he pays each month. He receives the full amount of his loan, on which he pays 6 per cent interest. The principal is credited every three months with all dues paid in during the preceding three months, and interest is charged only on the CHAPTER III. PREMIUM PLANS. 403 remainder, The payments eucn mon fch during the first three months are as follows: Dues at 50 cents a share, $2.50; interest on $1,000 at 6 per cent per annum, $5 ; premium, $1 ; total payments each month during first three months, $8.50. Payments each month during the nest three months are: Dues, $2.50; interest on $992.50 at G per cent per annum, $4.96|; premium, $1; total payments each month during the second three months, $8.46£. The amount on which the borrower pays interest is thus reduced quarterly until the loan has been repaid. The number of associations operating under this plan is as follows : Local.— Missouri, 1; New Jersey, 1; Ohio, 3; Pennsylvania, 1; total local associations, G. PLAN 26. Loans are awarded to shareholders bidding the highest premium. The premium is divided into a certain number of equal parts, payable at such times as the rules of the association may require. An arbitrary reduction in the interest rate is made periodically. Illustration: A member secures a loan on ten shares of a maturing value of $100 each, at a premium of $100, the loan having been taken during the first year of the series. The premium is divided into five annual payments, one of which is payable each year. The interest during the first year is 10 cents per week per share, second year 9 cents, third year 8£ cenfs, fourth year 7 cents, fifth year G cents, sixth year 5 cents, seventh year 4 cents, after that 3 cents per week per share. The payments each week during the first year are as follows : Dues at 25 cents a share, $2.50; interest on $1,000 at 10 cents on each $100, $1; total payments each week during first year, $3.50. The payments each week during the second year are: Dues, $2.50; interest, 90 cents ; total, $3.40; the interest being reduced each year according to the foregoing interest table. The number of associations operating under this plan is as follows : LOCAL. — Ohio, 4; total local associations, 4. PLAN 27. Loans are awarded to shareholders bidding highest premium. The premium bid is a certain rate per cent per annum, or a certain amount each month, or at such periods of time as the rules of the association require. The payment of premiums either continues during the entire term of the loan or ceases at the end of a fixed period. The borrower receives the whole amount of the loan and pays interest on the same. Illustration : A member secures a loan of $2,000, requiring ten shares of stock, on which he has bid 10 cents per share per month. His monthly payments are as follows: Dues at $1 a share, $10; interest on $2,000 at 6 percent per annum, $10; premium, $1 ; total payments each month, $21. These payments continue until the loan is settled by the maturity of the shares or by repayment. 404 REPORT OF THE COMMISSIONER OP LABOR. The number of associations operating under this plan is as follows : Local. — Alabama, 4; Arkansas, 2; California, 3 ; Colorado, 7; Con- necticut, 7; Delaware, 5; District of Columbia, 2; Florida, 8; Georgia, 3; Idaho, 1; Illinois, 60; Indiana, 97; Iowa, 11; Kansas, 11; Kentucky, 30; Maine, 27: Massachusetts, 100 ; Michigan, 20; Minnesota, 13; Mis- souri, 54; [Nebraska, 9; New Hampshire, 2; New Jersey, 48; New Mexico, 2; New York, 111; Ohio, 226; Oregon, 1; Pennsylvania, 295; Ehode Island, 5; South Carolina, 3; South Dakota, 3; Tennessee, 13; Texas, 2; Virginia, 2; Washington, 7; West Virginia, 16; Wisconsin, 17; total local associations, 1,227. National. — Alabama, 2; Illinois, 3; Indiana, 5; Iowa, 1; Kansas, 1; Minnesota, 1; Missouri, 10 ; Nebraska, 2; New Hampshire, 1; New Jersey, 1; New York, 4; Pennsylvania, 1; Tennessee, 8; Texas, 1; Virginia, 2; Wisconsin, 1; total national associations, 44. PLAN 28. Loans are awarded to shareholders in the order of their applications or by lot. The borrower receives the full amount of his loan and pays interest on the same. The premium is a certain rate per cent per annum, or a certain amount each month or at such periods of time, as the rules of the association require. Illustration : A member secures a loan of $1,000 at 6 per cent inter- est per annum and at a fixed premium of $6.25, payable monthly. He pledges ten shares of stock, payable monthly, at 62£ cents per share to be applied to the payment of the loan. He is also required to carry one additional share called premium stock for each $100 borrowed, to be applied to the payment of the premium. His monthly payments are as follows: Dues, $6.25; premium, $6.25; interest at 6 per cent per annum, $5; total payments each month, $17.50. The number of associations operating under this plan is as follows : Local. — : Alabama, 3; Arkansas, 2; California, 1; Colorado, 1; Dis- trict of Columbia, 1; Georgia, 3; Illinois, 46; Indiana, 103; Iowa, 18; Kansas, 3; Kentucky 8; Louisiana, 1; Maryland, 11; Michigan, 9; Minnesota,-8; Mississippi, 3; Missouri, 38; New Jersey, 1; New York, 7; Ohio, 93; Pennsylvania, 36; South Carolina, 1; Tennessee, 3; Texas, 1; Virginia, 5; West Virginia, 11; Wisconsin, 1; total local associa- tions, 418. National. — Alabama, 1; California, 8; Colorado, 3; District of Columbia, 2; Georgia, 7; Illinois, 19; Indiana, 10; Iowa, 5; Kentucky, 15; Louisiana, 1; Maryland, 3; Michigan, 2; Minnesota, 13; Missouri, 3; Nebraska, 2; New York, 17; North Dakota, 1; Ohio, 3; Oregon, 3; Pennsylvania, 2; South Dakota, 2; Tennessee, 5; Utah,l; Virginia, 4; Washington, 2; West Virginia, 2; total national associations, 136. CHAPTER III. PREMIUM PLANS. 405 PLAN 29. Loans are awarded to shareholders bidding the highest premium. The premium bid is either a certain rate per cent per annum or a cer- tain amount each month or at such periods of time as the rules of the association require. A certain number of these premium instalments are deducted from the loan in advance, the borrower receiving the remainder. The payment of the remaining premium instalments begins either at once or at the expiration of the period covered by the advance payment and continues during the entire terra of the loan, or ceases at the end of a fixed period. The borrower pays interest on the gross amount of the loan. Illustration: A member secures a loan on five shares of a maturing value of $200 each, at a premium of 50 cents a share per month. Twelve premium instalments are deducted in advance, the borrower receiving $970. Borrower thereafter pays in addition to his monthly dues and interest on his loan a monthly instalment premium of $2.50 until twelve months prior to maturity of the shares upon which the loan is made. The monthly payments are as follows : Dues at $1 a share, $5; interest at 6 per cent per annum, $5; premium, $2.50. The number of associations operating under this plan is as follows : Local. — California, 8; Illinois, 6; total local associations, 14. PLAN 30. Loans are awarded to shareholders in the order of their applications or by lot The premium is either a certaiu rate per cent per annum or a certain amount each month, or at such periods of time as the rules of the association require. The premium for a certain period is deducted from the loan in advance, the borrower receiving the remainder. The payment of the remaining premium instalments begins either at once or at the expiration of the period covered by the advance payment, and continues during the entire term of the loan, or ceases at the end of a fixed period. The borrower pays interest on the full amount of the loan. Illustration : A member secures a loan on ten shares of the maturing value of $100 each, at a fixed premium of 50 cents a share per month. The premium for the first six months is deducted in advance, the bor- rower receiving $970. During the first six months he pays only dues and interest on his loan. After six months his monthly payments are- as follows : Dues at 60 cents a share, $6 ; interest at 6 per cent per an- num, $5; premium at 50 cents a share, $5; total payments each month until maturity of shares, $16. The number of associations operating under this plan is as follows : Local. — California, 1; total local associations, 1. National. —New York, 1; total national associations, 1. 406 REPORT OF THE COMMISSIONER OF LABOR. PLAN 31. The premium, whether a fixed rate or determined by bid, is either a certain rate per cent per annum or a certain amount each month or at such periods of time as the rules of the association require. The bor- rower receives the full amount of the loan, and pays interest on the same; but the principal is reduced periodically by tbe amount of dues paid in, and interest is charged on the balance only. Illustration : A member secures a loan of $200 on one share, at a pre- mium of 10 cents a month. He receives the full amount and pays in- terest on the same. The payments each month during the first year are as follows: Dues on one share, $1; interest on $200 at 6 per cent per annum, $1; premium, 10 cents; total payments each month during the first year, $2.10. Payments each month during the second year are: Dues, $1; interest on $188 at C per cent per annum, 94 cents; premium, 10 cents; total payments each month during the second year, $2.04; and so on, the interest being reduced each year until the settle- ment of the loan. The number of associations operating under this plan is at follows: Local. — Maryland, 1; New Jersey, 6; Ohio, 224; Pennsylvania, 30; total local associations, 267. PLAN 32. This plan is in every respect similar to plan 31, except that the prin- cipal is periodically reduced by the amount of the dues and premiums paid during the preceding term and interest charged on the balance only. Illustration: On a loan of $200 on one share at a monthly premium of 25 cents and at 5 per cent interest, the payments each month during the first year are as follows: Dues, $1; interest at 5 per cent per annum, 83£ cents; premium, 25 cents; total, $2.08 J. Payments each month during the second year are: Dues, $1; interest on $185 at 5 per cent per annum, 77 fa cents ; premium, 25 cents ; total payments each month, $2.02^-; and so on, the interest being reduced each year until the settlement of the loan. The number of associations operating under this plan is as follows: Local. — Pennsylvania, 5; total local associations, 5. PLAN 33. This plan is in every respect similar to plan 31, except that the prin- cipal is periodically reduced by the amount of the dues paid in during the preceding term, plus a certain part of the premiums, and interest is charged on the balance only. The number of associations operating under this plan is as follows: Local. — Pennsylvania, 1; total local associations, 1. PLAN 34. This plan is in every respect similar to plan 31, except that the prin- cipal is periodically reduced by the amount of the dues paid in during CHAPTER III. PREMIUM PLANS. 407 the preceding term, plus the dividends accrued, and interest is charged on the balance only. The number of associations operating under this plan is as follows: Local. — Ohio, 18; Pennsylvania, 1; Wisconsin, 1; total local asso- ciations, 20. PLAN 35. This plan is in every respect similar to plan 31, except that the prin- cipal is periodically reduced by the amount of the dues and interest paid in during the preceding term, and interest is charged on the bal- ance only. The number of associations operating under this plan is as follows : Local. — Indiana, 1; total local associations, 1. PLAN 36. This plan is in every respect similar to plan 31, except that the prin- cipal is periodically reduced by the amount of the dues, premiums, and interest paid during the preceding term, and interest charged on the balance only. The number of associations operating under this plan is as follows : Local. — Ohio, 1; Pennsylvania, 12; total local associations, 13. PLAN 37. The borrower has the option of paying interest on the full amount of his loan during its continuance and participating in the profits, or of having his interest-bearing principal periodically reduced by the amount of the dues paid in and receiving no dividends. In the first case this plan resembles plans 27 or 28; in the second case, plan 31. The number of associations operating under this plan is as follows: Local. — Ohio, 8; total local associations, 8. PLAN 38. The premium, whether a fixed rate or determined by bid, is either a certain rate per cent per annum or a certain amount each month, or at such periods of time as the rules of the association require. The borrower receives the full amount of the loan and pays interest on the same. An arbitrary reduction in the interest rate is made periodically. The reduction of the interest rate may continue until the loan has been repaid, or until it has reached a certain rate, at which it continues until the settlement of the loan. Illustration : A member secures a loan of $500 on one share, at a weekly premium of 10 cents. His payments each week during the first year are as follows: Dues, 50 cents; interest, 60 cents; premium, 10 cents ; total payments each week during the first year, $1.20. Payments each week during the second year are : Dues, 50 cents ; interest, 57 cents ; premium, 10 cents; total payments each week *during the second 408 REPORT OF THE COMMISSIONER OF LABOR. year, $1.17; and so on, reducing the weekly interest 3 cents each year until the loan has been settled by repayment or by the maturity of the share. The number of associations operating under this plan is as follows : Local. — Indiana, 1; Kentucky, 5; Ohio, 77; total local associations, 83. National. — Iowa, 1 ; total national associations, 1. plan 39. The premium, whether u fixed rate or determined by bid, is either a certain rate per cent per annum or a certain amount each month or at such periods of time as the rules of the association require. The bor- rower receives the full amount of his loan and pays interest on the same at a uniform rate for a certain period or during the continuance of the loan. The premium is periodically reduced until it has reached a certain rate, at which it may continue for a certain period or until the loan has been satisfied. Illustration : A member secures a loan on ten shares of a maturing value of $100 each, at a premium of 25 cents per share per month, interest at the rate of 5-f per cent per annum. His payments each month during the first year are as follows: Dues at 55 cents a share, $5.50; interest, $4.50; premium, $2.50; total payments each month during the-first year, $12.50. Payments each month during the second year are: Dues, $5.50; interest, $4.50; premium, $2; total payments each month during the second year, $12; and so on, reducing the premiums each year 5 cents per share per month for five years, after which the premium is discontinued. The number of associations operating under this plan is as follows: Local. — New Jersey, 1; Ohio, 2; Pennsylvania, 1; total local asso- ciations, 4. National. — New York, 1; total national associations, 1. PLAN 40. Under this plan the premium and interest are combined. The bor- rower pays such rate of premium aud interest on his loan as his bid or the rules of the association require. He receives the full amount of the loan. Illustration : A member secures a loan upon five shares of a maturing value of $200 each, at per cent per annum premium and interest. His monthly payments are as follows : Dues at $1 a share, $5; premium and interest on $1,000 at per cent per annum, $5; total payments each month, $10. These payments continue until the loan is settled by repayment or by the maturity of the shares. The number of associations operating under this plan is as follows: LOCAL.— Colorado, 1; Connecticut, 1; District of Columbia, 1; Illi- CHAPTER III. PREMIUM PLANS. 409 nois, 3; Indiana, 1; Massachusetts, 11; Montana, 2; New Jersey, 1 ; New York, 1; Pennsylvania, 1; Bhode Island,]; Virginia, 20; Wis- consin, 1; total local associations, 45. PLAN 41. Under this plan premium and interest are combined. The borrower pays such rate of premium and interest on his loan as his bid or the rules of the association require. He receives the full amount of the loan. He pays thereon dues and premium and interest, and an addi- tional sum, which at fixed periods is credited to the principal, premium and interest being charged on the balance only. Illustration: A member secures a loan of $1,000 on one share, at 6 per cent per annum premium and interest. His payments each month during the first year are as follows: Dues, $2.50; payment on principal, I8.33J; premium and interest, $5; total payments each month during the first year, $15.83£. At the end of the year the principal is credited with $100, the total payment made during the year on account thereof, and premium and interest is charged on the balance only. During the second year hispayments each mouth are : Dues, $2.50; payment on prin- cipal, $S.33J; premium and interest, $4.50; total payments each month during the second year, $15.33J; and so on, reducing the monthly pay- ments of premium and interest each year by 50 cents, being a reduction of 10 per cent of the premium and interest bid, until the sixth year, when the principal is further reduced by the total amount of instalment dues paid up to that period and premium and interest reduced accordingly. The number of associations operating under this plan is as follows: Local. — District of Columbia, 5; total local associations, 5. National. — District of Columbia, 1; total national associations, 1. PLAN 42. Loans are awarded to shareholders bidding the highest premium. The premium is deducted from the loan in advance, the borrower receiving the remainder. He gives security for the gross amount and pays interest on the same. Or, if the borrower elect, he may receive the full amount of his loan without premium, but in that case he pays a higher interest rate. A part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration I: A member secures a loan on five shares of a matur- ing value of $200 each, at a premium of 10 per cent. He receives $900, but gives security for $1,000 and pays interest on the same at the rate of 10 cents per week on each $100. His bi-weekly payments are as fol- lows : Dues at $1 a share, $5; interest on $1,000 at 10 cents- a week per $100, $2; total of each bi-weekly payment, $7. These payment con- tinue until the maturity of the shares, unless the loan has been settled 410 REPORT OF THE COMMISSIONER OF LABOR. by repayment before the expiration of the sixth year from the date of issue of the shares in which case one-sixth of the premium will be refunded for every entire year of the six then unexpired. Illustration II : A member secures a loan on five shares of a maturing- value of $200 each and receives the full amount, $1,000. He pays no premium, but interest at the rate of 7 per cent per annum on his loan. His bi-weekly payments are as follows : Dues at $1 a share, $5; interest on $1,000 at 7 per cent per annum, $2.69-^-; total of each bi-weekly payment, $7.69 &. These payments continue until the loan has been settled either by maturity of shares or repayment. The number of associations operating under this plan is as follows: Local. — Indiana, 1; Nebraska, 1; total local associations, 2. PLAN 43. Loans are awarded to shareholders in the order of their applications or by lot. A fixed premium is deducted from the loan in advance. The borrower receives the remainder, but gives security for the gross amount, and pays interest on the same. Or, if the borrower elect, he may receive the full amount of his loan without premium, but in that case he pays a higher interest rate. In either case the monthly pay- ments continue until the maturity of the shares, unless the loan has been previously settled by repayment. No part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration I: A member secures a loan on five shares of a maturing value of $200 each, at a fixed premium of 15 per cent. He receives $850, but gives security for $1,000 and pays interest on the same at 7 per cent per annum. His monthly payments are as follows : Dues at $1 a share, $5; interest on $1,000 at 7 per cent per annum, $5.83 J; total payments each month, $10.83£. Illustration II : A member secures a loan on five shares of a matur- ing value of $200 each, and receives the full amount, $1,000. He pays no premium, but interest at the rate of 10 per cent on his loan. His monthly payments are as follows: Dues at $1 a share, $5; interest on $1,000 at 10 per cent, $8.33^; total payments each month, $13.33 J. The number of associations operating under this plan is as follows: Local. — California, 1; total local associations,!. PLAN 44. Loans are awarded to shareholders in the order of their applications or by lot. A fixed premium is deducted from the loan in advance. The borrower receives the remainder but gives security for the gross amount and . pays interest thereon. In addition to the premium deducted in advance, he pays a fixed instalment premium at the same time with his dues and interest until the loan is settled either by repay- ment or by the maturity of the shares. Kb part of the premium paid CHAPTER III. PREMIUM PLANS. 411 in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration : A member secures a loan on ten shares of a maturing value of $100 each, at 10 per cent premium. He receives $900, but gives security for $1,000 on which he pays interest at the rate of 6J per cent per annum, and an additional fixed premium of 12£ cents per share. His weekly payments are as follows : Dues at 25 cents a share, 82.50; interest on $1,000 at 6£ per cent per annum, $1.25; premium, $1.25; total payments each week, $5. The number of associations operating under this plan is as follows : LOCAL. — California, 1; Indiana, 1; Missouri, 1; New Jersey, 1; total local associations, 4. NATIONAL.— Florida, 1; Illinois, 1; Mississippi, 1; New York, 1; total national associations, 4. PLAN 45. Loaus are awarded to shareholders in the order of their applications or by lot. A fixed premium is deducted from the loan in advance, the borrower receiving the remainder. He gives security for the gross amount and pays interest on the same. In addition to the premium deducted in advance, the borrower pays a fixed instalment premium at the same time with his dues and interest until the loan has been settled either by repayment or by the maturity of the shares. A part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration: A member secures a loan on ten shares of a maturing value of $100 each. A premium of 10 per cent is deducted from the loan in advance, the borrower receiving the remainder, $900. He gives security for the gross amount, $1,000, and pays interest and a fixed premium of 5 per cent per annum on the same. His monthly payments are as follows: Dues at 75 cents a share, $7.50; interest on $1,000 at 5 per cent per annum, $4.16§; premium on $1,000 at 5 per cent per annum, $4.16|; total payments each month, $15.83$. A rebate of one-eighth of the premium deducted in advance is refunded for each unexpired year, if the loan is repaid before the maturity of the shares. The number of associations operating under this plan is as follows : Local. — Illinois, 1; total local associations, 1. National. — Illinois, 6; New York, 1; total national associations, 7. PLAN 46. Loans are awarded to shareholders bidding the highest instalment premium in addition to the fixed premium, which is deducted from the loan in advance. The borrower gives security for the gross amount and pays interest on the same. The instalment premium bid is paid at the same time with dues and interest. No part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. 412 REPORT OF THE COMMISSIONER OF LABOR. Illustration: A member secures a loau on teu shares of a maturing value of $100 eacli, at a premium of 2-& per cent per annum, or 5 cents per week. A fixed premium of $10 per share is deducted from his loan in advance, leaving him $900. He gives security for $1,000 and pays interest on the same at 6 per cent per annum. The weekly pay- ments are 25 cents per share, which includes dues, interest, and premium. Every six months the interest and premium are deducted from the total payments and the remainder is credited to the stock as dues. The total payments on teu shares for six months are $65; this amount includes $30 interest and $13 premium, which, deducted from $65, leaves $22 to be credited to the stock as dues. The number of associations operating under this plan is as follows: Local. — Indiana, 2; total local associations, 2. PLAN 47. Loans are awarded to shareholders bidding the highest premium. The premium is either deducted from the loan in advance or paid in instalments as the borrower may elect. In the latter case it is divided into a certain number of equal parts, which are paid at the same time with dues and interest. Xo part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration I: A member secures a loan on live shares of a maturing value of $200 each, at a premium of 10 per cent. He receives $900, but gives security for $1,000 and pays interest on the same at the rate of 10 per cent per annum. His monthly payments are as follows : Dues at $1 a share, $5; interest on $1,000 at 10 per cent per annum, $8.33£; total payments each month, $13.33^. Illustration II : If the borrower elect to pay his premium in instal- ments, the amount of the premium bid, taking the above case, would be divided into one hundred equal parts, oue of which is payable monthly at the same time with dues and interest. He receives the full amouut of his loau, for which he gives security, and on which he pays interest. His monthly payments are as follows: Dues, $5; interest, $8.33 J; pre- mium, $1; total payments each month, $14.33£. These payments con- tinue until the entire amount of the premium lias been paid, after which the borrower pays only dues and interest, until the loan has been settled by repayment, or by the maturity of the shares. The number of associations operating under this plan is as follows : Local. — Colorado, 1; Ohio, 1; total local associations, 2. PLAN 48. Loans are awarded to shareholders bidding the highest premium. The premium is either deducted from the loan in advance or paid in instalments, as the borrower may elect. In the latter case the pre- mium is divided into a certain number of equal parts, which are paid CHAPTER III. PREMIUM PLANS. 413 periodically at the same time with dues and interest. When the entire premium has been paid in advance, a part of it is returned to the bor- rower in case of the repayment of the loan before the maturity of the shares. Illustration I: A member secures a loan on ten shares of a maturing value of $100 each, at a premium of 15 per cent. He receives $850, but gives security for the gross amount, $1,000, and pays interest on the same. His monthly payments are as follows : Dues at 50 cents a share, $5; interest on $1,000 at 5 per cent per annum, $4.16f ; total payments each month, $9.16§. In case of the repayment of the loan before the end of the eighth year, one-eighth of the premium is refunded for each year that remains to the maturity of the shares. Shares are supposed to mature in eight years. Illustration II: If the borrower elect to pay his premium in instal- ments, the amount of his premium bid, faking the above case, would be divided into one hundred equal parts, one of which is payable monthly at the same time with dues and interest. He gives security for $1,000 and pays interest thereon at the rate of 5 per cent per annum. His monthly payments are as follows : Dues on ten shares at 50 cents a share, $5; interest on $1,000 at 5 per cent per annum, $4.16§; pre- mium, $1.50; total payments each month, $10.66|. These payments continue until the entire amount of the premium has been paid, after which the borrower pays only dues and interest until the loan has been settled by repayment or by the maturity of the shares. The number of associations operating under this plan is as follows: Local. — Illinois, 1; Michigan, 1; Minnesota, 1; Pennsylvania, 2; total local associations, 5. PLAN 49. Loans are awarded to shareholders in the order of their applications or by lot at a fixed premium rate. The premium is either deducted from the loan in advance or paid in instalments as the borrower may elect. In the latter case the premium is divided into a certain number of equal parts, which are paid at the same time with dues and interest. No part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration I : A member secures a loan on five shares of a maturing value of $200 each, at a fixed premium of 15 per cent. He receives $850, but gives security for the gross amount, $1,000, on which he pays interest at the rate of 10 per cent per annum. His monthly payments are : Dues at$l a share, $5; interest, $8.33^; total payments each month, $13.33^. No part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration II : If the borrower prefers to pay his premium in monthly instalments, it is divided into one hundred equal parts, one of which is payable at the same time with his dues and interest. He receives the 414 REPORT OF THE COMMISSIONER OF LABOR. full amount of his loan, for which he gives security and on which he pays interest. Taking the above case his monthly payments are as follows: Dues on five shares at $1 a share, $5; interest, $S.33£; pre- mium, $1.50; total payments each month, $14,834. These payments continue until the entire amount of the premium has been paid, after which the borrower pays only dues and interest until the loan has been settled by repayment or by the maturity of the shares. The number of associations operating under this plan is as follows : Local. — Colorado, 1; total local associations, 1. PLAN 50. Loans are awarded to shareholders bidding the highest premium. The premium is either deducted from the loan in advance or paid in instalments as the borrower may elect. In the latter case the premium is divided into a certain number of equal parts, a certain number of which are deducted from the loan in advance and the remainder paid at the same time with dues and interest. The borrower gives security for the gross amount of the loan and pays interest on the same. No part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration I: A member secures a loan on five shares of a maturing value of $200 each, at 15 per cent premium. He receives $850, but gives security for $1,000 and pays interest on the same. His monthly payments are as follows: Dues at $1 a share, $5; interest on $1,000 at 8 per cent per annum, $6.C6§; total payments each month, $11.6G§. Illustration II: If the borrower selects the instalment plan, and the premium bid is 30 per cent, the total premium of $300 is divided into one hundred and twenty equal monthly instalments of $2.50 each. Twelve of these monthly instalments are deducted in advance, leaving the borrower $970. He gives security for $1,000 and pays interest thereon. His monthly payments are as follows : Dues on five shares at $1 a share, $5; interest on $1,000 at 8 per cent per annum, $6.66§; premium, $2.50 ; total payments each month, $14.16|. These pay- ments continue for one hundred and eight months, after which only dues and interest are paid rnitil the loan has been settled by repay- ment or by maturity of the shares. The number of associations operating under this plan is as follows: Local. — California, 0; total local associations, 0. PLAN 51. This plan is in every respect similar to plan 50, except that bor- rowers in this case pay no interest. The number of associations operating under this plan is as follows: Local. — New Jersey, 1; total local associations, 1. CHAPTER III. PREMIUM PLANS. 415 PLAN 52. Loans are awarded to shareholders bidding the highest premium. The premium is either deducted from the loan in advance or paid in instal- ments, as the borrower may elect. In the latter case, the premium is divided into a certain number of equal parts, a certain number of which arc deducted from the loan in advance and the remainder paid at the same time witli dues and interest. When the entire premium has been paid in advance a part of it is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration I : A member secures a loan on ten shares of a maturing value of $100 each, at a premium of 15 per cent. He receives $850, but gives security for $1,000 and pays interest on the same. His monthly payments will be as follows : Dues at 50 cents a share, $5 ; interest on $1,000 at C per cent per annum, $5; total payments eacli month, $10. In case of the repayment of the loan before the maturity of the shares all the premium paid in advance with, the exception of one-forty-eighth part for eacli full month, the loan lias run is returned to the borrower. Illustration II: If the borrower elect to pay his premium in monthly instalments, the premium is divided into forty-eight equal parts. One of these parts, equal to $3.12£, is deducted in advance from the amount of the loan, leaving the borrower $996.87^. He gives security for $1,000 and pays interest on the same. His monthly payments are as follows: Dues on ten shares at 50 cents a share, $5; interest on $1,000 at 6 per cent per annum, $5; premium, $3.12 J; total payments each month, $13.12£. These payments continue until the entire amount of the premium has been paid, after which the borrower pays only dues and interest until the loan has been settled by repayment or by the maturity of the shares. The number of associations operating under this plan is as follows : LOCAL. — California, 3; total local associations, 3. PLAN 53. Loans are awarded to shareholders in the order of their applications or by lot at a fixed premium. The premium is either deducted from the loan in advance or paid in instalments as the borrower may elect. In the latter case the premium is divided into a certain number of equal parts, a certain number of which are deducted from the loan in advance, and the remainder paid at the same time with dues and interest. The borrower gives security for the gross amount of the loan and pays inter- est on the same. No part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration I : A member secures a loan on five shares of a maturing value of $200 each at a fixed prenriura of 15 per cent. He receives $850, but gives security for $1,000 and pays interest on the same. His monthly payments are as follows : Dues at $1 a share, $5 ; interest on $1,000 at 8 per cent per annum, $G.66§; total payments each month, $11.66§. 416 REPORT OF THE COMMISSIONER OF LABOR. Illustration II: If the borrower selects the instalment plan, the pre- mium, a axed rate of 30 per cent, equal to $300 on a loan of $1,000, is divided into one hundred and twenty equal instalments of $2.50 each. Twelve of these instalments are deducted from the loan iu advance, leaving the borrower $970. He gives security for $1,000 and pays in- terest on the same. His monthly payments are as follows : Dues on five shares at $1 a share, $5; interest on $1,000 at 8 per cent per annum, $6.0G§; premium, $2.50; total payments each month, $14.16§. These payments continue until the entire amount of the premium has been paid, after which the borrower pays only dues and interest, until the loan has been settled by repayment or by the maturity of the shares. The number of associations operating under this plan is as follows: Local. — California, 7 ; total local associations, 7. PLAN 54. Loans are awarded to shareholders in the order of their applications or by lot at a fixed premium. The premium is either deducted from the loan in advance or paid in instalments as the borrower may elect. In the latter case the premium is divided into a certain number of equal parts, a certain number of which are deducted from the loan in advance, and the remainder paid at the same time with dues and interest. The borrower gives security for the gross amount of the loan and pays interest on the same. A part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration I: A member secures a loan on five shares of a maturing value of $200 each, at a fixed premium of 15 per cent. He receives $850, but gives security for $1,000 and pays interest on the same at 7 per cent per annum. His monthly payments are as follows: Dues at $1 a share, $5; interest on $1,000 at 7 per cent per annum, $5.83£; total payments each month, $10.83£. Such part of the premium paid in advance as the board of directors may determine is returned to the | borrower in case of the repayment of the loan before the maturity of the shares. Illustration II: If the borrower selects the instalment plan, the pre- mium, a fixed rate of 30 per cent, equal to $300 on a loan of $1,000, is divided into one hundred and twenty equal instalments of $2.50 each. Twelve of these instalments are deducted from the loan iu advance, leaving the borrower $970. He gives security for $1,000 and pays interest on the same. His monthly payments are as follows: Dues on five shares at $1 a share, $5; interest on $1,000 at 7 per cent, $5.83 J- premium, $2.50; total payments each month, $13.33^. These pavments continue until the entire amount of the premium has been paid after which the borrower pays only dues and interest until the loan has been settled by repayment or by the maturity of the shares. The number of associations operating under this plan is as follows: Local. — California, 5; Illinois, 1; total local associations, 6. CHAPTER III.— PREMIUM PLANS. 417 PLAN 55. Loans are awarded to shareholders bidding the highest premium. The- premium is either deducted from the loan in advance or paid in instalments as the borrower may elect. In the latter case the premium is divided into a certain number of equal parts, which are paid at the same time with dues and interest. The borrower pays interest not only on his loan but also on the balance of the premium remaining unpaid. When the entire premium has been paid in advance a part of it is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration I : A member secures a loan on one share of a maturiug yalue of $200, at 20 per cent premium. He receives $160, but gives security for $200, and pays interest on the same. His monthly pay- ments are as follows: Dues, $1 ; interest on $200 at G per cent per annum, $1; total payments each month, $2. Illustration II: If the borrower selects the instalment plan, the premium is divided into a number of equal parts equal to the number of months remaining of the existence of the series of stock upon which the loan is made, calculating upon the basis of eight years for the existence of each series. Assuming the loan to have been made at the beginning of a series, the premium of $40 would" be divided into ninety-six equal parts of 41§ cents each. The borrower receives $200 and pays interest on both principal and the premium remaining unpaid. The interest on the premium is averaged yearly, making all monthly instalments payable during any year equal in amount. The monthly payments during the first year are as follows : Dues, $1 ; interest on loan, $1; premium, 41§ cents; interest on premium, 18^ cents; total, $2.60^. Monthly payments second year: Dues, $1; interest on loan, $1; pre- mium, 41§; interest on premium, 16£ cents; total, $2.57-^; and so on, interest on the premium decreasing each year by 2£ cents per month. The premium is averaged annually as follows: Total premium for eight years $40.00 Total payments of premium during the first year 5. 00 Leaving balance of premium due at end of first year... 35. 00 Add to this one-half of premium for first year 2. 50 Compute interest at 6 per cent per annum on 37. 50 The number of associations operating under this plan is as follows: Local. — Mississippi, 1; Pennsylvania, 4; total local associations, 5. PLAN 56. This plan is in every respect similar to plan 55, except that loans are made at a fixed premium rate iustead of to the highest bidder. The number of associations operating under this plan is as follows : Local. — Pennsylvania, 1 ; total local associations, 1. H. Ex. 209 27 418 REPORT OF THE COMMISSIONER OF LABOR. FLAN 57. Loans are awarded to shareholders' bidding the highest premium. The bid may either be a gross amount to be deducted from the loan in advance, or a certain amount to be paid periodically. In the first case the premium is deducted from the loan in advanee, but the borrower gives security lor the gross amount of the loan, and pays interest on the same. A part of the premium paid in advance is returned to the bor- rower in case of the repayment of the loan before the maturity of the shares. In the second case the borrower receives the full amount, gives security for the same, and pays interest thereon, and such amount of premium periodically as his bid requires. Illustration I: A member secures a loan on one share of a maturing value of $300, at a premium of $30. The borrower receives $276, but gives security for $300, on which he rjays.6 per cent interest per annum. The payments are as follows: Dues on one share, payable weekly, 50 cents; interest on $300 at G per eent per annum, payable monthly, $1.50. These payments continue until the share reaehes maturity, unless the loan is previously repaid, in which ease it is again awarded to the highest bidder, and the former premium shall be paid to the original borrower, provided the premium be no less than the original; if less he loses the difference, and if more the advance of the premium goes to the benefit of the association. Illustration II : A member secures a loan on one share of a maturing value of $100, at a premium of 5 cents a week. He receives the full amount and pays interest thereon. His weekly payments are as fol- lows: Dues, 20 cents; interest, 12 cents; premium, 5 cents; total payments each week, 37 cents. The number of associations operating under this plan is as follows : LOCAL. — Illinois, 2; Indiana, 3; Michigan, 1; Missouri, 4; Ohio, 1; Utah, 1; total local associations, 12. PLAN 58. Loans are awarded to shareholders m the order of their applications or by lot at a fixed premium. The premium is either deducted from the loan in advance or paid in instalments as the borrower may elect. In either case he gives security for the gross amount of the loan and pays interest on the same. When the entire premium has been paid in advance apart of it is xeturned to the borrower in case of the repay- ment of the loan before the maturity of the shares. Illustration I: A member secures a loan on twenty shares of a matur- ing value of $100 each, at a fixed premium of $25 a share. He receives S 1,500, but gives security for $2,000, and pays interest on the same at the rate of G per cent per annum. His monthly payments are as fol- lows: Dues at 50 cents a share, $10; interest on $2,000 at 6 per cent per annum, $10; total payments each month, $20. In case of the repay- CHAPTER III. PREMIUM PLANS. 419 ment of the ]oau before the maturity of the shares one-tenth of the premium paid in advance is returned to the borrower for every year then unexpired. Illustration II: In this case the borrower pays his premium in monthly instalments at the fixed rate of 50 cents a share. He gives security for $2,000, on which he pays interest at the rate of 6 per cent. His monthly payments are as follows : Dues on twenty shares at 50 cents a share, $10; interest on $2,000 at 6 per cent, $10; premium at 50 cents a share, $10; total payments each month, $30. The number of associations operating under this plan is as follows : Local. — California, 1; Illinois, 1; Indiana, 1; Michigan, 1; total local associations, 4. FLAN 59. Loans are awarded to shareholders bidding the highest premium. The entire premium is either deducted from the loan in advance or part of it is deducted in advance and the balance paid in instalments as the borrower may elect. In either case the borrower gives security for the gross amount of the loan and pays interest on the same. So part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration I: A member secures a loan on five shares of a maturing value of $200 each, at a premium of 60 cents a share per month. Twelve instalments, equal to $36, are deducted from the loan in advance, leaving the borrower $964. He gives security for $1,000 and pays interest thereon. The remaining premium instalments are paid monthly, with dues and interest, beginning from the date of the loan and continuing for not more than one hundred and eight months, making a total pre- mium of $360. The monthly payments for one hundred and eight months are as follows: Dues at $1 a share, $5; interest on $1,000 at 7 per cent per annum, $5.83|; premium at 60 cents a share, $3; total j>ayraents each month for one hundred and eight months, $13.S3|. The subsequent "payments would be: Dues, $5; interest, $5.83^; total payments each month, $10.83-J-. Illustration II: In this case the premium bid, 60 cents a share per month on five shares, equals for ten years $360. A reduction, deter- mined by the board of directors, is made if the premium is paid in advance. Supposing a reduction of 40 per cent is allowed, it would leave a premium of $216 to be deducted from the loan, leaving the bor- rower $784. He gives security for $1,000, and pays interest on the same at 7 per cent per annum. His monthly payments are as follows : Dues on five shares at $1 a share, $5; interest on $1,000 at 7 per cent per annum, $5.83^. No part of the premium paid in advance is returned to the borrower in ease of the repayment of the loan before the maturity of 'the share? 1 . The number of associations operating under this plan is as follows : Local. — California, 2; total local associations, 2. 420 REPORT OF THE COMMISSIONER OF LABOR. PLAN 60. Loans are awarded to shareholders bidding the highest premium. The entire premium is either deducted from the loan in advance or part of it is deducted in advance and the balance paid in instalments. In either case the borrower gives security for the gross amount of the loan and pays interest on the same. When the entire premium has been paid iu advance a part of it is returned to the borrower in case of the repay- ment of the loan before the maturity of the shares. Illustration I: A member secures a loan on five shares of a maturing value of $200 each, at a premium of 50 cents a share per month. Twelve instalments, equal to $30, are deducted from the loan in advance, leav- ing the borrower $970. He gives security for $1,000 and pays interest on the same. The remaining premium instalments are paid monthly, with dues and interest, beginning from date of loan and continuing for not more than one hundred and eight months, making a total premium of $300. The monthly payments for one hundred and eight months are as follows: Dues on five shares at $1 a share, $5; interest on $1,000 at 7 per cent per annum, $5.83£; premium at 50 cents a share, $2.50; 'total payments each month for one hundred and eight months, $13.33£. The subsequent payments are: Dues, $5; interest, $5.33 J; total pay- ments each month, $10.83J. Illustration II: In this case the premium bid, 50 cents a share per month on five shares, equals for ten years $300. A reduction of this of 40 per cent is made if the premium is paid in advance, or an amount equal to $120, leaving the premium to be deducted in advance $180. The borrower then receives $820, but gives security for $1,000, and pays interest on the same at 7 per cent per annum. His monthly payments will be: Dues on five shares at $1 a share, $5; interest on $1,000 at 7 per cent per annum, $5.83£. In case of the repayment of the loan before the maturity of the shares, one-tenth of the premium paid in advance is returned to the borrower for each unexpired year. The number of associations operating under this plan is as follows: Local. — California, 5; total local associations, 5. PLAN 61. Loans are awarded to shareholders bidding the highest premium. The premium is either deducted from the loan in advance or paid in instalments. It is, however, not forfeited to the borrower, but is placed to his credit, either in whole or in part. He gives security for the full amount of the loan and pays interest thereon. Illustration I : If the maturing value of a share is $200 and a member bids 25 per cent premium, he receives iu cash $150 but pays interest on $200. When the dues and profits equal the net amount received by the borrower, his loan is cancelled. Illustration II: At a premium of $1 a share a loan of $200 costs the borrower, bi-weekly, 50 cents dues, $1 premium, and $1 interest— total , CHAPTER III. PREMIUM PLANS. 421 of each bi-weekly payment, $2.50. Of this amount $1.50 paid on account of clues and premium is credited to tlie borrower, only the interest going to the association. If the borrower bids a premium of more than $1, the excess goes to the general fund of the association and not to the individual credit of the borrower. The payments continue until the dues, together with the premium and dividends, equal the amount of the loan. The number of associations operating under this plan is as follows : Local. — District of Columbia, 16; Florida, 1; Georgia, G; Pennsyl- vania, 2-1; Virginia, 12; total local associations, 59. PLAN 62. Under this plan the premium is either a fixed rate or determined by bid. The borrower receives the full amount of the loan, but gives security covering both the loan and the premium, and pays interest on the amount actually received by him until the shares reach the value of the face of the mortgage. Illustration: A member borrows on one share $100, at a premium of 10 per cent. He gives security for both the loan and premium, $110, but he pays interest only on $100, the amount received. His weekly payments are as follows: Dues, 25 cents; interest on $100 at 6.24 per cent per annum, 12 cents; total payments each week, 37 cents.. These payments continue until the share has reached the value qf, $110, unless the loan has been previously repaid. The number of associations operating under this plau is as follows: Local. — Nevada 1; New Jersey, 1; New York, 24; total local asso- ciations, 20. PLAN 63. Under this plan the premium is either a fixed rate or determined by bid. The borrower receives the full amount of the loan, but gives security covering both the loan and the premium, and pays interest on both until the shares reach the value of the face of the mortgage. Illustration : A member secures a loan of $200 on one share, at a premium of 20 per cent. He receives the full amount of $200, and gives security for $240, on which he pays interest. His monthly payments are as follows: Dues, $1; interest on $240 at 6 per cent per annum, $1.20; total payments each month, $2.20. These payments continue until the share has reached the value of $240, unless the loan has been previously repaid. The number of associations operating under this plau is as follows: LOCAL. — Georgia, 1; Illinois,' 1; New York, 2; Pennsylvania, 2; total local associations, 6. PLAN 64. Under this plan the premium is either a fixed rate or determined by bid. The borrower receives the full amount, but gives security cover- 422 REPORT OF THE COMMISSIONER OF LABOR. ing both the loan and the premium, and pays interest on both. The premium is paid in instalments, usually at the same time with dues and interest. Payments of dues, premiums, and interest continue until the shares reach maturing yalue. Illustration: A member borrows $1,000 on ten shares of a maturing- value of $100 each, at a premium of 25 per cent. He receives $1,000-, but gives security for $1,250, the amount of his loan and premium. He pays the premium in monthly instalments by taking three additional shares and paying dues thereon. His monthly payments are as follows : Dues on ten shares at 50 eents a share, $5; dues on three additional shares in payment of premium, $1.50; interest on $1,250 at 7 per cent per annum, $7.29£; total payments each month, $13.79^. These pay- ments continue until his shares have reached maturity, when he receives $50, the difference between the debt and the maturity value of thirteen shares.. The number of associations operating under this plan is as follows : Local,. — Illinois, 1; total local associations, 1. PLAN 65. In this case the borrower receives the full amount of the loan, but gives security covering both the loan and tlie premium, and pays inter- est on both until the shares pledged for the loan reach maturing value. Illustration : A member borrows $150 on one share, at a premium of 10 per cent. He receives the full amount of $150 and gives security for $165, on which he pays interest at the rate of 6 per cent per annum. Payments are bi-weekly and are as follows: Dues, 50 cents; interest on $165 at C per cent, 38-Jg- cents. These payments continue uutil the share has reached the value of $150, being the maturing value of shares, unless the loan is previously repaid. Although the premium is included in his mortgage, the borrower does not really pay it; in fact, the only premium, he pays is the interest on the difference between $165 and $150, the amount actually received. The number of associations operating under this plan is as follows: Local. — Pennsylvania, 9; total local associations, 9. PLAN 66. Loans are awarded to shareholders bidding the highest premium. Tlio borrower gives security lor the loan, the premium, in whole or in part, and the total dues for a definite period. This he pays off in equal instalments extending over a definite period, at the expiration of which the loan is cancelled. A rebate is allowed if the loan is repaid before the end of the period. Illustration: A loan of $500 is made at a premium of $100; these two amounts are added to the dues on one share of stock for ten years, which at 25 cents- per week amount to $130. The borrower receives CHAPTER III. PREMIUM PLANS. 423 $500, but gives security for $730, the total sum of the loan, dues, and premium. The total amount of his mortgage is paid in ten years in monthly instalments of $6.08£ each. If more than $100 premium is bid, the excess is deducted from the $500, the borrower receiving the remainder, but giving security for the full amount, and discharging his debt by monthly payments as illustrated above. If a loan is repaid before maturity, rebates are allowed as follows : If repaid at any time prior to the expiration of five years, the borrower is allowed a rebate of one-half of the premium instalments for five years, and all the dues for five years. For example: At the end of the year he has paid $73 on his mortgage, of which $50 is return of loan, $10 is premium, and $13 is dues. He now desires to pay off his entire indebtedness, and the cash required of him for this purpose is $567, stated as follows : Original amount of mortgage $730. 00 Deduct amount paid during one year 73. 00 Balance due 657.00 From this balance deduct 50 per cent of five years' premium instalments (50 per cent of $50) $25. 00 Also deduct all of five years' dues ($13x5) 65.00 90.00 Amount required to pay off indebtedness 567.00 If the debt is paid at any time after the expiration of five years, the borrower is allowed a rebate of 50 per cent of the premium instal- ments, and all of the dues unpaid. Members who borrow after having paid dues prior to borrowing are given credit for the Avithdrawal value of their stock at the time the loans are made, but such credit is not given until the expiration of one year from date of loan . Thus, suppose in the case of the borrower above cited, his share at the time he secured his loan had a withdrawal value of $25. During the first year of the loan he is required to pay the full amount of instalments, $73. At the end of the year he is credited with the withdrawal value of his share, $25, and during the second year of his loan he is required to pay only $48. After the second year until the loan is paid off, he pays the full amount, $73,each year. The number of associations operating under this plan is as follows: Local.— New Jersey, 3; total local associations, 3. PLAN 67. Loans are awarded to shareholders bidding the highest premium. The premium is either deducted from the loan in advance or the bor^ rower receives the full amount as may be agreed upon. If the premium is deducted, the borrower receives the balance, but gives security for the full amount and pays interest thereon. If the borrower receives the full amount of the loan, he gives security for both loan and premium, and pays interest on the same. Payments of dues and interest continue 424 REPORT OF THE COMMISSIONER OF LABOR. until the shares reach a value equal to the amount of the security given by the borrower. No part of the premium paid in advance is returned to the borrower in case of the repayment of the loan before the maturity of the shares. Illustration I : A member secures a loan on five shares of a maturing- value of $100 each, at a premium of 10 per cent. He receives $450, but gives security for $500, on which lie pays dues and interest. Illustration II: In this case the borrower receives $500, but gives security for $550, on which he pays dues and interest until the shares reach the value of $550, unless previously repaid. The number of associations operating under this plan is as follows: Local. — Alabama, 1 ; total local associations, 1. PLAN 68. Loans are awarded to shareholders bidding the highest premium. The premium is either deducted from the loan in advance or the borrower receives the full amount as may be agreed upon. If the premium is deducted, the borrower receives the remainder, but gives security for the gross amount and pays interest thereon. If the borrower receives the full amount of the loan, he gives security on both loan and premium and pays interest on the same. In either case the principal is reduced periodically by the amount of dues paid in on the shares borrowed on, and interest is charged on the remainder. No rebate of premium is allowed in case of tlie repayment of the loan before the maturity' of the shares. Illustration I: A member secures a loan on five shares of a maturing value of $200 each, at a premium of 10 per cent. He receives $900, but gives security for $1,000. His monthly payments for the first three months are as follows: Dues, $5; interest on $1,000 at 6 per cent, $5; total, $10. At the end of three months tlie principal is credited with $15, the dues paid in, leaving $985 principal, on which interest is charged. Monthly payments during the second quarter ai*e : Dues, $5; interest on $985 at 6 per cent per annum, $4.92J; and so on, reducing the principal each quarter until the loan is discharged. Illustration II: In this case the borrower receives $1,000, but gives security for $1,100, on which he pays interest at G per cent per annum. His monthly payments for tlie first quarter are as follows : Dues, $5 ; interest on $1,100 at G per cent per annum, $5.50; total, $10.50. At the end of three months the principal is reduced by $15, leaving $1,085 principal, on which interest is charged. Monthly payments during the second quarter are as follows: Dues, $5; interest on $1,085 at 6 per cent per annum, $5.42£; total, $10.42£; and so on, reducing the prin- cipal each succeeding quarter until the loan is discharged. The number of associations operating under this plan is as follows: Local. — New Jersey, 2; total local associations, 2. CHAPTER IV. PLANS OF DISTRIBUTION OF PROFITS;'" 425 CHAPTER IV. PLANS OF DISTRIBUTION OF PROFITS. While a great variety of plans are in vogue for the payment of premiums, it is also true that there are many plans for the distribution^ of profits. The investigation discloses twenty-five different rules or methods of distribution of profits. The amount of interest which a member has in a building and loan association is indicated by the number of shares which he holds, the age of the shares, and their maturing value. Shares are of three kinds, called — instalment or running shares, pre- paid shares, and paid-up shares. When a member desires to make weekly, monthly, or other periodical payments, he subscribes for instal- ment shares and indicates the amount of the periodical payments he desires to make by the number of shares for which he subscribes. These payments are continued until the instalments and the profits on the shares have caused them to reach their maturing or par value, when they are wound up by returning to the non-borrowing members the value of their shares in cash, and to the borrowing members their mort- gages and cancelled obligations. Prepaid shares, known also as partly paid-up shares, are issued by some associations at a fixed price per share in advance; such shares usually participate as fully in the profits as the regular instalment shares, and when the amount originally paid for such shares, together with the dividends credited thereon, reaches the maturing or par value then such shares are matured, and are disposed of in the same manner as regular instalment shares. A few associations, however, instead of crediting all the profits made on this class of shares, allow a fixed rate of interest on the amount paid therefor at each dividend period, which is paid in cash to the holders thereof. This interest is then deducted from the profits to which the shares are entitled, and the remainder is credited to the shares until such unpaid portion of the profits, added to the amount originally paid, equals the maturing or par value. Some associations allow their members to pay in the full maturity or par value of their shares at any time, and a certificate of paid-up stock is then issued, and the owners thereof are entitled to receive in cash the amount of all dividends declared thereon, subject to such conditions or limitations as the board of directors of each particular association may have adopted. 427 428 REPORT OF THE COMMISSIONER OF LABOR. Iii some instances these shares participate as fully in the profits as the regular instalment shares; but in most cases a fixed rate of inter- est only is allowed, the holders of the shares usually assigning to the association all right to profits above that amount. In some cases the holders of regular instalment .shares that have arrived at maturity value do not desire to draw out their money, but prefer to leave it with the association as an investment. Associations allowing this to be done issue to holders of matured shares what are known as certificates of matured shares, which are usually governed by the same conditions as are attached to paid-up shares. In the descriptions of the various plans for distributing profits which follow, only the regular instalment shares have been considered. The most common as well as the most important difference between the methods of distributing profits employed in national associations and those employed in local associations is the following : In local asso- ciations the total amount of dues paid in by the shareholders forms the basis for such distribution; while in nearly all national associations only a portion of the dues paid in by the shareholders figures in the distribution. For instance, in national associations the dues are gener- ally 60 cents a share per month, out of which either 8 or 10 cents are carried to an expense fund, the remainder being credited to the loan fund. The expense fund thus created is lost to the shareholders, except in the case of a few associations which carry the unexpended balances to the profit and loss account, and whatever profits are made are apportioned on the amount of dues credited to the loan fund only. The tables following give a general summary of the situation in respect to the twenty-five plans in use: CHAPTER IV. — PLANS OF DISTRIBUTION OF PROFITS. 429 LOCAL ASSOCIATIONS OPERATING UNDER THE VARIOUS PLANS TOR THE DIS- TRIBUTION OF PROFITS. Associations oj)eratic£ under plan — States and terri- tories. 1 o 3 4 5 6 7 8 9 10 11 12 13 1 14 15 2 10 ! | 17 18 19 20 21 1 1' 1 1 1 1 22 23 1 1 1 24 25 1 ■ 1 1 Not re- port- ed. Total asso- cia- tions. 11 3 9 45 14 4 2 13 "i 32 4 "c "3 1 1 1 2 1 1 i 4 1 3 13 1 3 "i 2 1 2 2 2 1 3 2 3 1 1 29 39 2 5 10 4 10 2 3 6 3 15 27 191 13 20 27 2 22 11 1 7 53 1 2 1 6 2 1 1 5 5 20 5 1 3 4 12 6 130 33 27 11 2 5 8 69 1 6 13 8 21 1 11 6 44 1 70 21 1 DO 2 212 1 5 1 4 1 13 4 2 1 1 23 4 32 125 42 15 21 26 Arkansas Colorado Connecticut Delaware ....... Dist. of Columbia 21 5 1 2 1 1 1 1 7 1 1 71 7 G 1 ii "47 6 1 1 9 ""2 20 6 4 1 1 1 1 1 1 1 1 4 248 63 24 22 13 1 34 4 1 6 5 8 38 28 3 10 70 2 5 93 05 IS 10 "io Indiana 429 1 Kentucky 4 4 2 21 "2 8 1 2 1 1 1 38 8 1 131 1 26 12 1 8 3 24 G 4 17 15 11 . 29 Massachusetts . . Michigan 1 1 9 38 11 149 1 14 "i 2 2 ,3 5 237 115 72 82 Mississippi Missouri 1 1 9 6 108 ; 30 '349 7 Nebraska 13 1 -I " 1 1 66 1 New Hampshire . New Jersey 2 100 2 24 3 20 "ti 2 6 1 13 7 37 2 31 1 2 16 286 ... 5 New York North Carolina. . 8 31 21 38 1 8 142 1 5 19'-.! 2 1 1 390 24 5 Ohio 347 39 76 101 48 23 718 1 51 1 10 3 294 37 3 4 23 38 3 30 5 4 1 1 ! "j'jj; 3J2..J.. I..L. 1 8 338 1 6 10 24 12 1 2 2 12 6 1 63 42 3 1 16 40 1 1 14 < Pennsylvania . - - \ Rhode Island . . . 1,076 6 48 2 4 ] 1 1 14 > Tennessee 15 3 4 1 1 1 9 J .1.. 1 !.. 61 39 Utah "i 1 1 18 2 13 "5 "5 1 2 5 2 76 Washington "West Virginia . . "Wisconsin "Wyoming 14 2 1 1 2 4 54 39 6 25 Total 1280 256 851 287 1 203 449 172 1062 131 2 * 9 1 1 862 5,598 4S0 REPOKT OF THE COMMISSIONER OF LABOR. NATIONAL ASSOCIATIONS OPERATING UNDER THE VARIOUS PLANS FOR THE DISTRIBUTION OP PROFITS. [There arc no national, associations operating under the omitted, numbers.] 1 Associations operating natter vliin- Total asso- cia- tions. States and turrit mit-.s. r 2 3 4 ■1 1 ] 5 G 7 1 10 Not re- port- ed. 1|.... 3 J. 1 2 4 8 1 1 i 8 t 3 2 12 38 in 8 1 17 2 3 S IS a 17 1 * 1 2 28 2 1 1 2 1 "" 10 1 1 1 l 1 <> 1 ■i 1 5 7 I 2- i . i & 1 2 1 1 It 1 .... 1 2 2 i [ 2' 1 1 1 i i 1 i 1 2 1 I 1 3 * 1 S i i 7 1 1 ^ I ■-■:■■■-{ 2 B 1 ! 1 1 2 13 1 l . 1 | 2 s ....1 3 4' lj....| 3 \ 1 .. ] ...... 1 Ohio 2 1 ...}..::• ... 1 2 1 1 I 12 2 1 1 1 — T"" ..j... .c: ... ! . . " i ...J. . '....1... .!.... 2 1 3 .... J 2 I 17 2 Utah ! 1 I 3 1 1 1 1 1 1 S ....j.... 2 2 I 1 g ■■■■)•-•• SI ] 24 16 13 2ti 2 2 1 11 64 240 The twenty-five principal plans and their modifications with illus- trations showing the various methods of applying each are given in the pages immediately following : PLAN 1. This plan apportions the profits among series just as profits among partners are apportioned in a firm where the partners enter at different dates, each series representing a partner. 1. Multiply the dues paid in on the shares, in force in each series by the equated time of investment. 2. Take the sum of these products and then find what fractional part each product is of the sum. 3. These fractions are the parts of tho total net profits belonging to each series. To illustrate the rule, let us suppose that an association whose monthly dues are $1 per share had .three series in force at the end of the third year, and that the number of shares in each series and their value per share were as follows: First series, 500 shares, value ner share $38.87 ; second series, 600 CHAPTER IV. PLANS OF DISTRIBUTION OF PROFITS. 431 shares, value per share $25.27; third series, 400 shares, value per share $12.32 ; that a fourth series of 500 shares is then issued ; the net profits for the fourth year are $3,000, and the total net profits for the four years are $5,325. Required : The value of a share of each series at the end of the fourth year. The first series above alluded to has run four years, or forty-eight months. Forty-eight $1 payments have therefore been made on each share of stock. The first dollar paid has been invested forty-eight months; the second dollar paid, forty-seven months; the third dollar paid, forty-six months, etc., the last dollar of the forty-eight having ' been invested one month. The times of investment thus form a decreasing arithmetical series, with forty-eight for the first term, one for the last term, and forty-eight for the number of terms. The total investment is thus equal to $1 invested for 1,176 months (the sum of the series), equivalent to $48 invested for 24^ months. Treating the other series in the same way, we find that $38 paid per share in the second series has been invested for 18£ months; $24 paid per share in the third series, for 12 J months; and $12 paid per share in the fourth series, for G£ months ; then — $48x500x24^= $588,000, first series' investment for one month. $36x600x18^= $399,600, second series' investment for one month. $24x400xl2£= $120,000, third series' investment for one mouth. $12x500x 6£= $39,000, fourth series' investment for one liionth. $1,146,600, total investment for one month. Hence the total net profits are divided as follows: -ffrNWuts or "fWr of the total profits belong to the first series. 'AWtsHiV or -rWr of the total profits belong to the second series. fWWifir or vWr oi "the total profits belong to the third series. tt ?§&uu or tMt of the total profits belong to the fourth series. Total profits to be divided are $5,325. iWr of $5,325 = $2,730.77, first series' share of tho profits. iWr 0I " $5,325 = $1,835.81, second series' share of the profits. vVW of $5,325 = $557.30, third series' share of the profits. T i|f-.- of $5,325 = $181.12, fourth series' share of the profits. $2,730.77 -r- 500 = $5.46, profit of a sharo of tho first series. $1,855.81 — 600 = $3.09, profit of a share of the second series. $557.30 -f- 400 = $1.39, profit of a share of the third series. $181.12 — 500 = $0.36, profit of a share of the fourth series. $48.00, dues paid, -f $5.46, profit, =$53.46, value of a share of the first series. $36.00, dues paid, +$3.09, profit, =$39.09, value of a sharo of the second series. $24.00, duos paid, + $1.39, profit, =$25.39, value of a sharo of the third series. $12.00, dues paid, +$0.36, profit, =$12.33, value of a share of the fourbu series. In the above example, all the net profits made during the four years have been apportioned to the several series, but some associations apportion only each year's profits in this way. Other associations using this plan simplify the process, but obtain the same results, by dividing the total investment for one month (or for one week, as the case may be), into tho profits to be apportioned, for the profit on $1 invested for 432 REPORT OF THE COMMISSIONER OF LABOR. one month, which is then multiplied successively by the sum of the number of weeks, months, or other periods of time for which each dol- lar of dues in each series has been invested. The products will be the amount of the profits belonging to a share in each series. A few associations have been found that arrive at the same results by using the following method, which is known as Clark's plan: 1. Multiply the number of shares in force in each series by the quotient obtained by dividing the sum of the number of weeks, months, or other periods of time for Avhich each dollar of dues in each series has been invested by the product obtained by multiplying the dues paid iu on one share during the first year by the average time of investment, for the equalized results for each series. 2. Take the sum of these results and divide it into the total profits since the beginning of the association, for the rate per cent of profit. 3. Multiply the quotients already found by the rate per cent of profit, for the profit of a share in each series. We have before seen that $48 dues per share in the first series have been invested for 24| months, which is equal to $1 invested for 1,176 months. In like manner $36 dues per share in the second series have been invested for 18J months, which is equal to $1 invested for 666 months; $24 dues per share in the third series, for 12£ months, which is equal to $1 invested for 300 months ; and $12 dues per share in the fourth series for 6£ months, which is equal to $1 invested for 78 months. The average time of first year's payments is simply half the time of investment, which is 6 months. Twelve dollars invested for an average period of C months is equal to $1 invested for 72 months. Then: 1,176 — 72 = 16.333. 666^72 = 9.250. 300^72 = 4,166. 78-^72 = 1.083. 500 X 16. 333 = 8, 166. 50, equalized result for the first series. 600 X 9. 250 = 5, 550. 00, equalized result for tlie second series. •100 X 4. 166 = 1, 666. 40, equalized result for the third series. 500 X 1.083= 541. 50, equalized result for the fourth scries. 15, 924. 40, equalized result for all series. $5, 325, the total profits, -^ 15, 924. 40 = 33. 4392, the rate per cent uf profit. $0. 334392 X 16. 333 = $5. 46, profit of a share of the first series. $0. 334392 X 9. 250 = $3. 09, profit of a share of the second series. $0. 334392 X 4. 166 = $1. 39, profit of a share of the third series. $0. 334392 x 1. 083 = $0. 36, profit of a share of the fourth series. For the value of each share, add the dues as above. There is a modification of plan 1 , which follows the same general method as that shown in the first illustration, but differs in certain particulars and gives a different result. The modification is as follows : Instead of finding the exact equated time of investment, many associ- ations arrive at an approximate equated time by taking one-half the CHAPTER IV. — PLANS OF DISTRIBUTION OF PROFITS. 433 number of months a series lias run. Using the same data as in the. above illustration, we get 24, 18, 12, and 6 as the average number of months the series have run. It is this modification that is commonly, but erroneously, called the partnership plan. ILLUSTRATION. $48 X 500 X 24 = $576, 000, first series' investment for one month. $36 X 600 X 18 = $388, 800, second series' investment for one month. $24 X 400 X 12= $115, 200, third series' investment for one month. $12 x 500 X 6 = $36, 000, fourth series' investment for one month. $1, 116, 000, total investment for one mo*nth. The total net profits are then divided in proportion to each series' investment for one month, thus: fftisWtf or VW of $5,325 = $2,748.39, first series' share of the profits. i¥iWo% or VW of $5,325 = $1,855.16, second series' share of the profits. -tSWu°o a ir or tW of $5,325 = $549.68, third series' share of the profits. rMSfib or T fir of $5,325 = $171.77, fourth series' share of the profits. $2, 748. 39 -T- 500 = $5. 50, profit of a share of the first series. $1, 855. 16 H- 600 = $3. 09, profit of a share of the second scries. $549. 68 ^ 400 = $1. 37, profit of a share of the third series. $171. 77 -H 500 = $0. 34, profit of a share of the fourth series. This modification of plan 1 has been simplified, the principle con- sisting in casting out common factors in the process of multiplication. The first series has run 48 mouths; the second, 36 months; the third, 24. mouths; and the fourth, 12 months. The average time of invest- ment, as we have before seen, is 24, 18, 12, and "6, respectively. Then we proceed thus : 48, age in mouths, X 24, average time, X 500 shares. 36, age in months, x 18, average time, X 600 shares. 24, age in months, X 12, average time, X 400 shares. 12, age in months, X 6, average time, x 500 shares. It will be readily seen that 12 is a factor common to 'all the numbers of the first column, and that 6 is a factor common to all the numbers in the second column. Casting out these factors, we have — 4 X 4 X 500 = 8, 000. Hence -fipg of the total profits belong to the first series. 3 X 3 X 600 = 5, 400. -f^s of the total profits belong to the second series. 2 X 2 x 400 = 1, 600. •$% of the total profits belong to the third series. 1x1x500= 500. T55 of the total profits belong to the fourth series. Total, 15, 500. Briefly put, then, the simplification is as follows : Multiply the number of shares in force in each series by the square of the time of investment expressed in terms or periods corresponding to the. intervals between the series, and then divide the profits in proportion to these products. The foregoing simplification has been still further simplified by find- ing the profit of a share in each series directly, instead of finding each series' share of the profit, as follows: 1. Multiply the number of shares in force in each series by the H. Ex. 209 28 434 REPORT OF THE COMMISSIONER OF LABOR. square of the time of investment expressed in terms or periods corre- sponding to the intervals between the series. 2. Divide the sum of these products into the results obtained by- multiplying the total net profit by the square of the time of investment expressed as above. The total of the products as in the last illustration is 15,500; then— $5,325, total profits, x4x4-^-15,500 = $5.50, profit of a share of the first series. $5,325, total profits, x3x3H- 15,500 = $3.09, profit of a share of the secondseries. $5,325, total profits, x2x2-^15,500 = $1.37, profit of a share of the third series. $5,325, total profits, x 1x1-1-15,500 = $0.34, profit of a share of the fourth series. A share of the first series receives 16 times as much profit as a share of the fourth series ; a share of the second series, 9 times as much; and a share of the third series, 4 times as much. This method, there- fore, reveals the fact that, by multiplying the number of shares in force in each series by the square of the time each series has been invested, expressed in years, half years, quarter years, etc., corresponding to the intervals between the series, a correct basis of calculation is reached. These simplifications, however, are practicable only where series are issued at regular intervals, as fractions complicate the operation. This simplification is known as Rice's rule. A few associations arrive at the same results by dividing the total investment for one month into the profits, for a rate per cent of profit, and then applying the rate to eaeh series' investment for one monthfor each series' share of the profits. The process is also varied in the fol- lowing manner : Find what annual rate of interest the profits are equiv- alent to on the amount of dues paid for one-half the time that all the dues have been invested, and apply this rate on the dues paid per share for one-half the time of investment, for the profit of a share in any series. Other variations are the following: 1. The profits are distributed on the amount of dues actually paid in on the shares in force in each series (not what the regular payments should have amounted to), multiplied by one-half the time of invest- ment. 2. The profits are distributed on the total amount of dues standing to the credit of the shareholders in the loan fund multiplied by one- half the time of investment. 3. The series are not allowed to participate in the profits for the term in which they were issued. 4. The profits are distributed on the amount of dues actually paid in on all shares in force that are three months old or over, multiplied by one-half the time of investment, shares less than three months old not participating. 5. The profits are distributed to the free shares only, dues on shares borrowed on being credited on loans. 6. Profits arising from withdrawals are divided equally among the shares of the respective series from which the shares were withdrawn. CHAPTER IV. PLANS OF DISTRIBUTION OP PROFITS. 435 7. Profits arising from entrance fees are divided equally among the shares of the respective series in which the shares are taken. 8. A profit of $1 is given to all shares six months old or over. The remainder of the profits is distributed on the dues paid in on the shares in force six months old or over multiplied by one-half the time of investment. 9. Profits arising from premiums are divided equally among all the shares in force at the end of the period during which the loans were made. Profits from all other sources are distributed in accordance with the modified rule. ' 10. A fixed rate of interest is given on the total amount of dues paid on the shares in force at each apportionment. This interest is deducted from the profits for the term, and the remainder distributed according to the modified rule. 11. A fixed rate of interest is given on the value of the shares in force as declared by the last report. This interest is deducted from the profits for the term and the remainder is distributed according to the modified rule. 12. A portion of the total amount of premiums received by and due the association is arbitrarily determined upon, and held in reserve to be applied in future dividends ; the amount thus determined upon is deducted from the total profits, and the remainder of the profits is dis- tributed as follows : The interest and dividends allowed on free shares withdrawn are added to the dues paid in on such shares, and the sum total of said interest and dividends is deducted from the amount of dis- tributable profits ;. the balance is distributed among all the shares in accordance with the'foregoing modified rule. There is still another modification of plan 1, as follows : Multiply each series' investment (that is, the dues paid in on the shares in force) by one-half the number of months invested plus one and apportion the profits in proportion to these products. Using the same data as before we proceed as follows : ILLUSTRATION. $48 X 500 X 25 = $600,000, first series' investment for one month. $36 X 600 X 19 = $410,400, second series' investment for one month. $24 X 400 X 13 = $124,800, third series' investment for one month. $12 x 500 X 7 = $42,000, fourth series' investment for one month. $1,177,200, total investment for one month. Then, proceeding as before, we find that — i 5 iWo% or Hi of $5,325 = $2,714.07, the first series' share of the profits. VWWifr or Iff of $5,325 = $1,856.42, the second series' share of the profits. tS.¥M& or | Jf of $5,325 = $564.53, the third series' share of the profits, x^-f 9§8xr or WV of $5,325 = $189.98, the fourth series' share of the profits. $48, dues, + ($2,714.07 -r- 500) =$53.43, value' of a share of the first series. $36, dues, + ($1,856.42 -f- 600) = $39.09, value of a share of the second series. $24, dues, + ( $564.53 h- 400) = $25.41, value of a share of the third series. $12, dues, + ( $189.98. -^- 500) = $12.38, value of a share of the fourth series. 436 REPORT OF THE COMMISSIONER OF LABOR. The number of associations operating under this plan and its modifications is as follows: Local. — Alabama, 11; Arizona, 3; Arkansas, 9; California, 45;. Colorado, 14; Connecticut, 4; Delaware, 2; District of Columbia, 13; Georgia, 7; Illinois, 248; Indiana, 63; Iowa, 24; Kansas, 22; Ken- tucky, 13; Louisiana, 1; Maryland, 1; Massachusetts, 1; Michigan, 9; Minnesota, 38; Mississippi, 11; Missouri, 149; Montana, 1; Nebraska, 14; New Hampshire, 2; New Jersey, 100; New Mexico, 2; New York, 24; North Carolina, 3; North Dakota, 3; Ohio, 20; Oregon, 8; Penn- sylvania, 338; Ehode Island, 1; South Carolina, 6; South Dakota, 10; Tennessee, 24; Texas, 12; Utah, 1; Virginia, 2; Washington, 2; West Virginia, 12; Wisconsin, 6; Wyoming, 1; total local associations, 1,280. National.— Colorado, 2; District of Columbia, 1; Georgia, 6; Illi- nois, 19 ; Indiana, 1 ; Iowa, 1 ; Kentucky, 11 ; Maryland, 2 ; Minnesota, 4; Missouri, 7; Montana, 1; Nebraska, 1; New York, 2; North Da- kota, 1; Oregon, 1; Pennsylvania, 1 ; South Dakota, 1; Tennessee, 12 ; Texas, 2; Utah, 1; Virginia, 2; Washington, 1; West Virginia, 1; total national associations, 81. FLAN 2. 1. Give to each series, except the last, interest at the legal rate upon the value of the shares in force as declared at the last report. 2. Deduct this interest from the profits for the term and divide the remainder equally among all the shares. Assuming that 6 per cent is the legal rate, and using the same data as in the illustration of plan 1, the plan is worked out as follows: ILLUSTKATION. $38.87 X .06= $2.33, interest on one share of the first series. $25.27 x .06= $1.52, interest on one share of the second scries. $12.32 x .06= $0.74, interest on one share of the third series. $2.33 X 500 = $1,165, interest belonging to the first series. $1.52 x 600= $912, interest belonging to the second series. $0.74 x 400= $296, interest belonging to the third series. $2,373, total interest belonging to the old series. $3,000, the profits for the term, — $2,373 = $627, profits remaining to be divided. $627^-2,000, total shares in force, = $0.31, profit of each share. $38.87, previous value, + $2.33, interest, + $0.31, profit, -f $12, dues, =$53.51, value of a share of the first series. $25.27, previous value, -f $1.52, interest, + $0.31, profit, + $12, dues, = $39.10, value of a share of the second series. $12.32, previous value, + $0.74, interest, + $0.31, profit, + $12, dues, = $25.37, value of a share of the third series. $0.31, profit, + $12, dues, = $12.31, value of a share of the fourth series. Undivided profits, $7. This is known as Wrigley's rule. Many associations using this plan of distributing profits allow a higher or a lower rate of interest than the legal rate, but no separate classification of such associations has been made. CHAPTER TV, — PLANS OF DISTRIBUTION OF PROFITS. 437 The above plan is varied by different associations in the following manner: 1. Interest is allowed on all the series except the last. 2. Interest is allowed on the dues paid in up to the last report on the shares in force. 3. Interest is allowed on the withdrawal value of the shares in force. 4. Interest is allowed on the value of the shares in force as declared by the last report, plus all the dues paid in during the term. 5. Shares less thau six months old do not participate in the profits. G. Interest is allowed on the value of the shares in force as declared by the last report plus one-half the dues paid in during the term. 7. Interest is allowed on all the dues paid in on the shares in force for one-half the time they have been invested. 8. After the legal rate of interest has been deducted from the total profits, the remainder of the profits is divided in proportion to the amount of dues paid in during the term. 9. Profits arising from withdrawals aie divided equally among the shares of the respective series from which the shares were withdrawn. 10. After the legal rate of interest has been deducted from the total profits the remainder of the profits is divided as follows : All shares in force at last report receive an equal part, while shares three months old receive one-fourth as much as shares one year old, shares six months old receive one-half as much as shares one year old, etc. 11. Shares leas than three months old are not allowed any part of the profits. 12. This variation of the rule is made by some national associations: After the interest has been deducted from the total profits the remainder of the profits is divided among all the shares in force, in proportion to the amount of dues paid into the loan fund during the term. 13. Each series except the last is given interest at the legal rate upon the value of the shares in force as declared by the last report; the first series is then given credit for all the interest paid during the term on loans made prior to the issuing of the second series. The first and second series together are given credit for all the interest paid during , the term on loans made during the existence of the second series and prior to the issuing of the third series, the apportionment being made equally to the shares in each; and so on for any number of series. The remainder of the profits is divided equally among all the shares in force. 11. A fixed rate of interest is allowed on the value of all shares in force as declared at the last report. This interest is deducted from the profits and the remainder divided among all shares three months old or over, in proportion to the amount of dues^paid in during the term. The number of associations operating under this plan and its varia- tions is as follows : Local.— Arkansas, 1; California, 32; Colorado, 4; Delaware, 6; 438 REPORT OF THE COMMISSIONER OP LABOR. Florida, 3; Georgia, 1; Illinois, 34; Indiana, 4; Iowa, 1; Kansas, 6 Kentucky, 5; Louisiana, 8; Michigan, 1; Minnesota, 2; Mississippi, 2 Missouri, 9; Montana, 3; Nebraska, 5; New Jersey, 41; New York, 8 Pennsylvania, 63; Tennessee, 15; Virginia, 1; West Virginia, 1; total local associations, 250. National. — Kentucky, 1; total national associations, 1. PLAN 3. 1. To the value of all the shares in force as declared by the last report add one-half the dues paid in during the term. 2. Divide the profits for the term by this sum for the rate per cent of profit. 3. To the value of each share as declared by the last report add one- half the dues paid in during the term and multiply the sum by the rate per cent of profit, for the profit of each share. 4. To the value of each share as declared by the last report add the dues paid in on the same during the term and the profit of each share, for the present value. Using the same data as in the previous illustrations the result is as follows: ILLUSTRATION. $38. 87 X 500 = $19, 435, value of first aeries at last report. $25. 27 X 600 = $15, 162, value of second series at last report. $12. 32 x 400= $4, 928, value of third series at last report. $39, 5?5, value of all series at last report. $12-1-2 x 2, 000 = $12, 000, one-half the dues paid during the year. $39, 525 -)- $12, 000 = $51, 525, total dividend hearing capital. $3, 000, the profits for the term, — $51, 525 = 5.8224, the rate per cent of profit, n ($38. 87 + $6) X .058224 = $2. 61, profit of a share of the first series. (125.27 + $6) X .058224 = $1.82, profit of a share of the second series. ($12.32 + $6) x .058224 = $1.07, profit of a share of the third series. $6 X .058224 = $0. 35, profit of a share of the fourth series. $38. 87, previous valuo, + $2. 61, profit for term, + $12, dues, = $53. 48, present value of a share of the first series. $25. 27, previous value, + $1. 82, profit for term, -f- $12, dues, = $39. 09, present value of a share of the second series. $12. 32, previous value, -f- $1. 07, profit for term, -f $12, dues, = $25. 39, present value of a sharo of the third series. $0. 35, profit for term, + $12, dues, = $12. 35, present value of a sharo of the fourth series. The above rule is known in some sections of the country as the third dividend rule. It is varied by different associations in the following manner : 1. To the value of all the shares in force as declared by the last report add one-third of the dues paid in during the term for the dividend bearing capital. 2. To the value of all the shares in force as declared by the last report add two-thirds of the dues paid in during the term for the dividend bearing capital. CHAPTER IV. PLANS OF DISTRIBUTION OF PROFITS. 439 3. To the value of all the shares in force as declared by the last report add eight-thirteenths of the dues paid in during the term for the divi- dend bearing capital. 4. To the value of all the shares in force as declared by the last report add three-eighths of the dues paid in during the term for the dividend bearing capital. 5. To the value of all the shares in force as declared by the last report add one-half the dues paid in during the term, not including the last regular payment, for the dividend bearing capital. 6. Shares less than six months old do not participate in the profits. 7. Instead of ascertaining a rate of profit according to the rule, each series' share of the profits is represented by a fraction whose numerator is the dividend bearing capital of the respective series and whose denominator is the total dividend bearing capital of all the series. 8. Profits arising from withdrawals are divided equally among the shares in force of the respective series from which the shares were withdrawn. 9. The profits belonging to the series issued since the last report are kept separate and are divided equally among the shares of that series. 10. The rate of profit is found according to the rule, but this rate is applied upon the dues paid in at last report plus one-half the dues paid in since, previously apportioned profits being disregarded; the remainder of the profit being held in reserve. 11. The rate per cent of profit annually based on the free shares only is found according to the rule, and the board of directors arbitrarily declares what part of said rate shall be distributed to the free shares, the remainder being carried to the reserve fund. The shares borrowed on do not participate in the profits, their dues being credited on the principal of the loan. 12. All of the profits are distributed to the free shares only. The shares borrowed on do not participate in the profits, their dues being credited on the principal of the loan. 13. To the value of the free shares as declared by the last report add one-half the dues paid in during the term on all the shares in force, for the dividend bearing capital. The shares borrowed on receive profits on one-half the dues paid in during the term only. These profits and the dues paid in are credited on the principal of the loan. 14. This variation from the rule is largely used throughout the ISTew England states, and is. known as the Eldredge plan. It differs from the rule, in that the rate per cent of profit is not computed iu the usual way, but instead the division of profits is based on an assumed rate per cent. This assumed rate of profit is distributed to each share as under the rule. If a portion of the profits still remains undistributed, the profit per share is increased by one-half per cent, one-fourth per cent, etc., according to the amount of profit remaining. To illustrate the plan, suppose the last annual report shows a share 440 ' REPORT OF THE COMMISSIONER OF LABOR. of a given series to be worth $38.87, and that a rate of 6 per cent is assumed. $38.87 X .06 = $2.33, profit on previous value at the assumed rat,e. $6.00 x .06 = $0.36, profit on one half the dues at the assumed rate. $2.69, total profit of the share at the assumed rate. The same computation is made upon all the shares in force of the exist- ing series, which gives the total profit of all shares in force at the assumed rate, 6 per cent. If, after deducting this profit from the total profits, it is found that the profits are sufficient to allow 64 per cent instead of G per cent, the profit per share is increased one-twelfth; if sufficient to allow 7 per cent, the profit per share is increased one-sixth, etc. 15. The series issued since the last feport is given all the entrance fees. The profits arising from withdrawn shares are divided equally among all the shares in force of the series in which the withdrawals took place, and the preceding ones. To illustrate, suppose the with- drawal profit was made in the second series ; then such profit would be divided equally among all the shares in force of the first and second series; if the withdrawal profit was made in the third series, it would be»-divided equally among the shares in force of the first, second, and third series, etc. 10. A fixed rate of interest is allowed upon the value of all the shares in force as declared by the last report plus one-half the dues paid in during the term. The remainder of the profit is arbitrarily divided among all the shares in force, a larger portion being given to the shares of the older series than to those of the younger series. 17. Some i>ermanent associations vary the rule in the following man- ner: Members may pay more than the regular required weekly or monthly dues, but no dividends are allowed on such overpayments until the close of the current term in which tliey are paid. Members may also withdraw all or any part of the dues paid or of the dividends declared, future dividends being based on the amount standing to the members' credit at the beginning of the term and on one-half the regular dues paid during the term. The number of associations operating under this plan and its varia- tions is as follows: Local. — Alabama, 1; Arizona, 1; Arkansas, 2; California, J; Col- orado, 1; Connecticut, i; Delaware, 4; District of Columbia, 1; Illinois, 38; Indiana, 28; Iowa, 3; Kansas, 10; Kentucky, 70; Louisiana, 2; Maine, 5; Maryland,. 93; Massachusetts, 65; Michigan, 18; Minnesota, 10; Missouri, 10; Nebraska, 13; New Hampshire, 2 ; New Jersey, 6; New York, 34; Ohio, 347; Pennsylvania, 42; Rhode Island, 3; Ten- nessee, 3; Utah, 1; Virginia, IS; West Virginia, 2; Wisconsin, 13; total local associations, 851. National.— California, 4; Illinois, 2; Indiana,!; Kansas,!; Ken- CHAPTER IV. PLANS OF DISTRIBUTION OF PROFITS. 441 tucky, 2; Maryland, 1; Michigan, 1; Nebraska, 2; New York, 2; Ohio, 2 ; Tennessee, 1 ; Virginia, 3 ; Wisconsin, 2 ; total national associations, 24. ^ PLAN 4. 1. To the value of all the shares in force as declared by the last report, add the equated amount of- dues paid in during the term. 2. Divide the -profits for the term by this sum, for the rate per cent of profit. 3. Multiply each share's investment by the rate per cent of profit, to find the gain on one share. Using the same data as before the result is as follows: ILLUSTRATION. ($38.87 + $6.50, equated dues), X 500=$22,685, dividend bearing capital of 1st series. ($25.27 + $6.50, equated dues), X 600 = $19,062, dividend bearing capital of 2d series. ($12.32 + $6.50, equated dues), X400= $7,528, dividend bearing capital of 3d series. $6. SO, equated dues, XD00= $3,250, dividend bearing capital of 4th scries. $52,525, dividend bearing capital of all series. $3,000, the profits for tho term, ■— $52,525 = 5.7115, the rate per cent of profit. ($38.87 + $6.50) X .057115 =$2.59, profit of a share of tho first series. ($25.27 + $6.50) X .057115 = $1.81, profit of a share of the second series. ($12.32 +$6.50) X .057115 = $1.07, profit of a share of the third series. $6.50 X .057115 = $0.37, profit of a share of tho fourth series. $38.87 + $12 + $2.59 = $53.46, value of a sharo of the first series. $25.27 + $12 + $1.81 = $39.08, value of a sharo of tho second series. $12.32 + $12 + $1.07 = $25.39, value of a sharo of tho third series. $12 + $0.37 = $l2.37, value of a share of tho fourth series. $6.00, profits undivided. This rule is known as Dexter's rule. Some associations arrive at the same results by using the following method: (1) To the value of the shares in force in each ' scries as declared by the last report, add/ the equated amount of dues paid in each series during the term, and multiply each sum by the number of months in the term, for each series' investment for one month. (2) Find the sum of these products, which gives the entire capital invested for one month, and then divide the profits of tho term in the same pro- portion that each series' investment for one month bears to the entire capital invested for one month, for each series' share of the profits. (3) Divide the profits of each series by tho number of shares therein, for the profit of one share. The process is also varied in the following way: The total investment for one month is divided into the total net profits for a rate per cent, which is applied to each series' investment for one month, for the profit of each series. Other variations are the following: 1. An assumed rate of profit (generally G per cent) is given on the previous value of the shares and on the equated amount of dues paid in 442 REPORT OF THE COMMISSIONER OF LABOR. during the term. If a portion of the profits still remains undistributed sufficient to allow one-fourth per cent or one-half per eent more, each share's investment is then allowed this additional rate of profit. 2. Multiply the value of the shares in each series as declared at the last quarterly apportionment by 3 and to these products add twice the amount of dues paid in on each series during the current quarter. Divide each of these sums by 12, for the dividend bearing capital of each series. Divide the net profits of the quarter by the dividend bearing capital of all the series, for the rate per cent of profit. Multiply the dividend bearing capital of each series by the rate per cent of profit, for the profit of each series. Divide the profit of each series by the number of shares in the series, for the profit of a share in the series. Using the same data as before, except that quarterly profits of $707.28 are assumed instead of yearly profits of $3,000, we proceed thus : ($38.87 X 500 x3) + ($3 X 500 X 2) — 12 = $5,108.75, dividend bearing capital -of the first series. ($25.27 x 600 X 3) + ($3 x 600 X 2) — 12 = $4,090.50, dividend bearing capital of the second series. ($12.32 X 400 X 3) -f ($3 x 400 X 2) — 12 = $1,432.00, dividend bearing capital of the third series. ($3 X 500 x 2) — 12= SS50.00, dividend bearing capital of the fourth series. $10,881.25, dividend bearing capital of all series. $707.28 — $10,881.25 =6.5, the rate per cent of profit. $5,108.75 x .065 = $332.07, profits of the first series. $4,090.50 X .065 = $265.88, profits of the second series. $1,432.00 x .065 = $93.08, profits of the third series. $250.00 >< .065 = $16.25, profits of the fourth series. 3. The profits are distributed to the free shares only. The shares borrowed on do not participate in the profits, their dues being credited on the principal of the loan. 4. Profits arising from entrance fees are divided equally among the shares of the respective series in which the shares are taken. 5. Profits arising from withdrawals are divided equally among the shares of the respective series from which the shares were withdrawn. 6. The dividend bearing capital of the free shares is ascertained according to the rule. The dividend bearing capital of the shares borrowed on consists of the equated amount of dues paid in during the term. The dues paid in on shares borrowed on during the term., together with the dividends thereon, are credited on the loans. 7. Instead of finding an exact dividend rate, some associations use a fixed rate, which is applied according to the foregoing rule. The remain- ing profits are divided equally among all the shares or are held in reserve. 8. Instead of finding the dividend bearing capital of the series as in the foregoing rule, all the dues paid in on the shares in force up to the CHAPTER IV. — PLANS OF DISTRIBUTION OP PROFITS. 443 last report, plus the equated amount of dues paid in during the term, form the basis for the distribution of the profits. 9. A certain rate of interest is given to each series based on the value of the shares in force as declared by the last report. The pre- miums received during the term are divided among the series in pro- portion to the receipts of each series during the term from dues, fines, and the interest allowed on the previous values. The remaining profits are divided among all the shares in accordance with the rule. 10. Payments are made weekly. Each shareholder's weekly payment of dues is multiplied by the number of weeks invested less one and then averaged for the equated investment of each shareholder's dues for the term. Then the equated investment of all the shareholders' dues^or the term, added to the amount standing to the credit of the shareholders at the beginning of the term, gives the dividend bearing capital for the term. This capital divided into the profits for the term gives the rate per cent of profit. This rate is then applied to each shareholder's dividend bearing capital to ascertain the amount of profit belonging to each. The number of associations operating under this plan and its varia- tions is as follows: Local. — Arkansas, 3; California, 13; Colorado, 1; Connecticut, 3; Georgia, 1; Idaho, 1; Illinois, 71; Indiana, 7; Iowa, 6; Kansas, 1; Maine, 14; Massachusetts, 47 ; Michigan, 6; Minnesota, 1; Mississippi, 1: Missouri, 9; Nebraska, 1 ; New Hampshire, 1 ; New Jersey, 13; New York, 21; Ohio, 39; Oregon, 1; Pennsylvania, 16; Washington, 5; Wis- consin, 5 ; total local associations, 287. National. — California, 1 ; Colorado, 1 ; Georgia, 1; Illinois, 2; Iowa, 5; Minnesota, 2; Missouri, 2; Tennessee, 2; total national associations, 1G. PLAN 5. 1. To the previous value of a share in each series add the dues paid in during the term, and multiply the sum by the number of shares in the series. 2. Add these products and then divide the sum into the profits for the term for the rate per cent of profit. Using the same data as in the preceding illustrations, the rule is worked out as follows: ($38. 87+$12)x500 = $25, 435, dividend bearing capital of the first series. ($25. 27-f-$12)x600 = $22, 362, dividend bearing capital of the second series. ($12. 32-f $12) X400= $9, 728, dividend hearing capital of the third series. $12 X500= $6, 000, dividend hearing capital of the fourth series. 3,525, dividend bearing capital of all series. 444 REPORT OF THE COMMISSIONER OF LABOR. $3, 0G0, the profits for tlie term, -^$63, 525 = 4. 7225, the rate per cent of profit. $25, 435 X . 047225 = $1, 201. 17, the first series' share of the profits. $22, 362 X. 047225 = $1, 056. 05, the second series' share of the profits. $9, 728 X . 047225 = $459. 40, the third series' share of the profits. $6, O0OX . 047225 = $283. 35, the fourth series' sharo of tho profits. $1, 201. 17—500= $2. 40, profit of a share of the first series. $1, 056. 05-f-600 = $1. 76, profit of a sharo of the second series. $459. 40-^400 = $1. 15, profit of a share of tho third series. $283. 35^-500 = $0. 57, profit of u, sharo of tho fourth series. $38. 87-j-$12+$2. 40 = $53. 27, value of a share of the first series. $25. 27+$12+$l. 76 = $39. 03, value of a share of tho second series. $12. 32+$12+$l. 15 = $25. 47, value of a sharo of tho third series. $12+$0. 57 = $12. 57, value of a share of the fourth scries. $0. 03, profits undivided. The following modifications of plan 5 have been found : 1. The profits are distributed only upon the free shares. 2. Profits are distributed to all shares six months old and over in accordance with the rule, shares less than six months old not partici- pating in the profits. 3. Profits are distributed on the amount standing to the credit of shareholders three months previous to the dividend day. 4. Profits are distributed on the values of the shares at the last report, and on all the dues paid in during the term except the last regular payment. 5. Profits are distributed to all shares thirty weeks old and over, shares less than thirty weeks old not receiving any profit. 6. Instead of finding an exact dividend rate, as in the foregoing rule ; an arbitrary rate, within the limit of the profits, is allowed. 7. A fixed rate of interest is allowed on all balances at the beginning of the year and on the dues paid in on shares then in force. The same rate of interest is allowed on the clues paid in on shares less than a year, but more than three months, old. Shares exactly one year old receive a much higher rate of interest; but, if allowed to remain in the associ- ation, the dues and dividends would become a balance on which the lower rate of interest would be allowed at the end of the following year. 8. A fixed rate of interest is allowed on the values of the shares in force as declared by the last report and on all the dues paid in during the term. This interest is then deducted from the profits for the term, and the remainder divided in proportion to the age of the shares. 9. Profits arising from premiums arc distributed in accordance with the rule. All other profits are divided equally among the shares of the respective series in which such profits were made. 10. Profits arising from interest, fines, withdrawals, etc., are distrib- uted among all shares three months old or over in accordance with the rule. Profits arising from premiums are divided equally among all the shares in force three mouths old or over. 11. Profits arising from interest and from premiums on interest are apportioned according to the rule. Profits arising from fines and from CHAPTER IV. PLANS OF DISTRIBUTION OF PROFITS, 445 premiums other than on interest are divided equally among all the shares in force. 12. A fixed rate of interest is allowed on the amount standing to the credit of the shareholders at each semi-annual term. This interest is then deducted from the profits for the term, and the remainder is divided equally among the borrowing shares. 13. Profits arising from interest are apportioned according to the rule. All other profits are apportioned on the basis of the dues paid during the term plus the interest credited for the term. 14. The rate per cent of profit is found in accordance with the rule; but the rate thus obtained is applied to each shareholder's account on his dues only, the remainder of the profits being held in reserve. 15. The profits are distributed every month. The gross profits of the month are divided by the total capital, for the rate per cent of profit which is then applied successively to the values of the shares in each series as determined at the previous apportionment, for the gross profit on each share. The monthly expenses are apportioned to each share on the same basis, and the net profit of each share is the difference between the gross profit of each share and the expense of each share. The number of associations operating under this plan and its varia- tions is as follows : Local. — California, 1; Colorado, 2; Idaho, 2; Illinois, 20; Indiana, 6; Iowa, 4: Kentucky, 4; Louisiana, 4; Maine, 2; Maryland, 21; Michi- gan^; Minnesota, 8; Mississippi, 1; Missouri, 6; Montana, 2; Nebraska, 1; Nevada, 1; New Hampshire, 1; New Jersey, 18; New York, 3S; North Dakota, 1 ; Ohio, 8; Pennsylvania, 40; Tennessee, 4; Utah, 1; Virginia, 2; West Virginia, 2; Wisconsin, 1; total local associations, 203. National. — Illinois, 1; Indiana, 4; Iowa, 1; Kentucky, 1; Minne- sota, 1; Mississippi, 1; New York, 3; Virginia, 1; total national asso. ciations, 13. PLAN 6. 1. Divide the net profits for the term by the total amount of dues paid in on all the shares in force, for the rate per cent of profit. 2. Multiply the total dues paid in on one share of each series by the rate per cent of profit, for the profit on one share. Using the same data as before the result is as follows: ILLUSTRATION. $48 X 500 = $24, 000, total dues paid in first series. $36 X 600 = $21, 600, total clues paid in second series. $24 X 400 = $9, 600, total dues paid in third series. $13 y 500 = $6, 000, total dues paid in fourth series. •$61. 200, total dues in all series. 446 REPORT OF THE COMMISSIONER OF LABOR. $3, 000, the profits for tho term, — $61, 200 = -1.9019, tho rate per cent of profit. $48 X .049019= $2. 35, profit of a share of the first scries. $36 X .049019 = $1. 76, profit of a share of the second series. $24 X .049019 = $1. 18, profit of a share of tho third series. $12 X .049019= $0. 59, profit of a share of the fourth series. $38. 87 + $2. 35 + $12 = $53. 22, value of a sharo of tho first series. $25. 27 + $1. 76 -f $12 = $39. 03, value of a sharo of the second series. $12. 32 + $1. 18 + $12 = $25. 50, valuo of a sharo of tho third series. $0. 59 + $12 = $12. 59, value of a sharo of the fourth series. $2. 00, profits undivided. This rule is known in some sections of the country as the second dividend rule. The following variations differ from the rule only in tho method of computation, as exactly the same results are obtained: 1. Multiply the number of shares in force in each series by the num- ber of months the series have run. Add these products and divide the sum into the net profits for the term, for the profit of one share for one month. Then multiply the profit per share per month by the num- ber of months the series has run, for the profit of a share in any series. 2. Multiply the number of shares in force in each series by the time of investment expressed iu terms or periods corresponding to the inter- vals between the series. Add these products and divide the sum into the profits for the term, for the profit of a share of the youngest series. Shares' twice the age of a share of the youngest series will receive twice as much profit ; a share three times as old will receive three times as much, etc. 3. Multiply the number of shares in each series by the dues paid in per share, or by one-half the dues paid in, according to the practice of the association. Add these products and find what fractional part each product is of the sum of all the products. These fractions represent the parts of the total profits belonging to each series. 4. Multiply the dues on the shares in force for one-half the time of investment by an assumed rate per cent of profit, for the assumed profits. Divide the actual net profits of tho term by the assumed profits and multiply the quotient by the assumed profits of each series, for the actual profits of each series. 5. The legal rate of interest is allowed ou the total dues paid in all the series, and the remainder of the profits divide among all the shares in proportion to the total amount of dues paid in each series. The variations from the rule which give different results are the fol- lowing: 1. Only the dues standing to the -credit of the shareholders six months prior to the dividend day participate in the profits. 2. Shares must be three months, six months, or one year old, as the rules of the association may provide, before they are allowed to partici- pate in tho profits. 3. The last three months' payments of dues do not participate in the profits. CHAPTER IV. PLANS OF DISTRIBUTION OP PROFITS. 447 | 4. A fixed rate per cent of profit is allowed and profits arc dis- tributed only when a sufficient amount has accumulated to give to each share this rate per cent on the dues paid in. 5. A rate per cent of profit is ascertained by dividing the net profits for the last year by the total amount of dues standing to the credit of the free shares, plus the dues iiaid in on the pledged shares during the year. This rate is applied on the dues standing to the credit of each share at the end of the year and the profit belonging to the free shares goes to increase their value, while the profit belonging to the pledged shares, with the dues paid on them during the year, is credited on the loan as a partial payment. G. The profits are distributed to the free shares only. All payments made on pledged shares are credited on the loans. 7. The legal rate of interest is allowed on all the dues paid in except the last regular payment. The remainder of the profits is held in reserve. 8. Profits arising from fines and transfer fees are divided equally among the shares of the series in which such profits were made. The remainder of the profits is distributed in accordance with the rule. 9. A fixed rate of interest is allowed on all the dues paid in. 10. Profits arising from interest and fines are distributed in accord- ance with the rule. All other profits are divided equally among all the shares in force. 11. Profits arising from x>remiums are divided equally among all the shares in force. All other profits are distributed among all shares three months old or over, according to the rule. 12. Profits arising from interest are divided in accordance with the rule. All other profits are divided among all the shares in force, in proportion to the amount of dues paid in during the term. 13. Kb profit is allowed on the dues paid in during the term. The number of associations operating under this plan and its varia- tions is as follows : Local.— Alabama, 1; Arkansas, 2; California, 2 ; Colorado, 2; Con- necticut, 1; Delaware, 3; District of Columbia, 2; Florida, 3; Geor- gia, 1; Idaho, 1; Illinois, 29; Indiana, 39; Iowa, 2; Kentucky, 8; Lou- isiana, 3; Maryland, 12 ; Massachusetts,!; Michigan, 8; Minnesota, 3; Missouri, 24; Nebraska, 6; Sew Hampshire, 4; New Jersey, 17; New York, 142; Ohio, 76; Oklahoma, 1; Pennsylvania, 51 ; Ehode Island, 1; Texas, 1- West Virginia, 1 ; Wisconsin, 2; total local associations, 449. National. — Districtof Columbia, 2; Illinois,5; Indiana, 7; Michigan, 1- Minnesota, 1; Missouri, 1; New York, 4; Pennsylvania, 2; Tennes- see 1- Washington, 1; West Virginia, 1 ; total national associations, 26. PLAN 7. 1. To the amount of dues paid in on one share in each series up to the last report add one-half the dues paid in during the term, and multiply 448 REPORT OF THE COMMISSIONER OP LABOR. these sums by the number of shares in each series, for the dividend bearing - capital of each series. 2. Add these products and divide the sum into the profits for the term, for the rate per cent of profit. 3. Multiply the dividend bearing capital of each series by the rate per cent of profit, for the profit of eacli series. 1. Divide the profit of each series by the number of shares in the series, for the profit of one share in each scries. Using- the same data as before we proceed thus: ILLUSTRATION'. ( 1 1 2 2 1 8 i i i 14 3 3 3 1 2 13 2 3 " ! 1 ! 1 1 3 1 4 1 1 2 5 1 1 2 4 8 1 1 1 2 1 3 1 1 5 1 5 I ' 3 2 9 1 1 3 1 1 3 1 2 3 3 15 1 2 i 1 2 1 1 1 2 4 1 1 1 1 1 1 1 1 1 J 2 9 2 3 2| 1 1 5 4 28 1 North Carolina North Dakota 1 1 Ohio 1 1 2 2 1 1 3 2 2 2 2 1 1 Tennessee 9 3 1 2 Texas 1 3 1 2 2 1 2 3 1 2 3 3 C7 4 01 Total 14 7 1 18 15 1 8 24 17 240 CHAPTER V. — WITHDRAWAL PLANS. 469 PLAN 1. Withdrawing shareholders receive the dues paid in without interest or profit. Under this plan withdrawing shareholders receive only the dues paid in on the shares upon which withdrawal is made, the profits earned by said shares being retained by the association. Among the associations reported as operating under this plan the following modifications and regulations are found : 1. No withdrawal is allowed to be made upon shares which have not been in existence for a certain specified time, which varies in different associations as follows: Three months; six months; one year. 2. Only a certain portion of the dues paid in can be withdrawn, vary- ing, in the associations reporting such a regulation, as follows: 75 per cent; 90 per cent; 95 per cent; 95 per cent if the shares upon which withdrawal is made are less than six months old; 95 per cent or 90 per cent if the shares upon which withdrawal is made are less than one year old; 95 per cent if the shares upon which withdrawal is made are less than two years old; 95 per cent if the shares upon which with- drawal is made are less than one year old; 97 J per cent if one year but less than two years old. 3. Among the associations reported as operating under this plan and its modifications the following regulations regarding withdrawal fees are found : (1) Withdrawal fee of 10 cents, 25 cents, 50 cents, or $1 per share is charged. (2) Withdrawal fee of 25 cents per share is charged, but not more than $5 per transaction. (3) Withdrawal fee of 50 cents per transaction is charged if the shares on which withdrawal is made are less than one year old. (4) The dues withdrawn are discounted, the rate of discount being graduate'd according to the age of the share upon which withdrawal is made. The number of associations reported as operating under this plan and its modifications is as follows : Local. — Alabama, 6; Arizona, 1; Arkansas, 2; California, 4; Colo- rado, 1; Georgia, 3; Illinois, 5; Indiana, 7; Iowa, 4; Kansas, 3; Ken- tucky, 12; Louisiana, 1; Maryland, 5; Michigan, 6; Mississippi, 2'; Missouri, 29; Nebraska, 11; New Jersey, 18; New York, G; North Caro- lina, 5; Ohio, 9; Pennsylvania, 34; South Carolina, 15; Texas, 8; Vir- ginia, 17; Washington, 1 ; West Virginia, 5; Wyoming, 1; total local associations, 221. National.— California, 1; Kentucky, 1; New Jersey, 1; North Dakota, 1 ; total national associations, 1. 470 REPORT OF THE COMMISSIONER OF LABOR. PLAN 2. Withdrawing shareholders receive the dues paid in and a fixed rate of interest per annum on such payments. Under this plan withdrawing shareholders receive the dues paid in on the shares upon which withdrawal is made with a fixed rate of inter- est thereon per annum, which varies in different associations. Illustration: In an association in which the dues are $1 per month per share 6 per cent interest on the clues paid in is allowed withdraw- ing shareholders. If a shareholder withdraws when his shares are four years old he will receive on each share upon which withdrawal is made $48, the dues paid in thereon, with 6 per cent interest on the same for two years, the average time of investment, or $5.76, making the total amount he will withdraw on each share $48 plus $5.76, or $53.76. Among the associations reported as operating under this plan the following modifications and regulations are found : 1. The total amount to be withdrawn must uot exceed 95 per cent of the present value (consisting of dues and apportioned profits) of the shares upon which withdrawal is made. 2. This plan is applied to withdrawals in all series except the oldest one in force, in which either the full value of the shares may be with- drawn, or an arbitrary allowance is given. 3. ~No withdrawal is allowed to be made upon shares which have not been in existence for a certain specified time, which varies in different associations as follows: Two months; three months; four months; six months; one year; two years; three years; any time which may be fixed by the board of directors. 4. No interest is allowed if withdrawal is made upon shares which have not been in existence for a certain specified time, which varies in different associations as follows: One month; two months; three months; four months; six months; eight months; ten months; one year; thirteen months; eighteen months; two years; twenty-six. months; three years; four years. 5. Among the associations reported as operating under this plan and its modifications the following regulations concerning withdrawal fees are found : (1) Withdrawal fee of 5 cents, 10 cents, 20 cents, 25 cents, 50 cents, $1, or $2 per share is charged. (2) Withdrawal fee of 5 cents per share is charged for each month the shares upon which withdrawal is made have been in existence. (3) Withdrawal fee of $1 per share is charged if the shares upon which withdrawal is made are less than six months old. (4) Withdrawal fee of $1 per share is charged if the shares upon which withdrawal is made are less than one year old. (5) Withdrawal fee of $2 per share is charged if the shares upon which withdrawal is made are less than two years old. CHAPTER V. WITHDRAWAL PLANS. 471 (6) Withdrawal fee of 50 cents per share is charged, but not less than $1 nor more than $2 per transaction. (7) Withdrawal fee of 50 cents per share is charged, but not less than $1 nor more than $2.50 per transaction. (8) Withdrawal fee of 50 cents per share is charged, but not less than $1 nor more than $3 per transaction. (9) Withdrawal fee of 56 cents per share is charged, but not more than $5 per transaction. (10) Withdrawal fee of $1.30 per transaction is charged. (11) Withdrawal fee of $3 per transaction is charged if the shares upon which withdrawal is made are less than one year old. (12) Withdrawal fee of $1 per transaction is charged if withdrawal is made upoa less than sis shares; if upon six shares or more $3 is charged. (13) Withdrawal fee of 1 per cent of the dues paid in is charged. (14) Withdrawal fee of 5 per cent of the dues paid in is charged. (15) Withdrawal fee of 5 per cent of the dues paid in is charged if the shares upon which withdrawal is made are less than one year old. (16) Withdrawal fee of 5 per cent of the dues paid in is charged if the shares upon which withdrawal is made are less than one year old and 2£ per cent if one but less than two years old. (17) Withdrawal fee of 5 per cent of the dues paid in is charged if the shares upon which withdrawal is made are less than three years old. (18) Withdrawal fee of 10 per cent of the dues paid in is charged if the shares upon which withdrawal is made are less than one year old. (19) Withdrawal fee of 5 per cent of the present value of the shares upon which withdrawal is made is charged. (20) Withdrawal fee is charged of a rate per cent of the dues paid in, graduated according to the number of months the shares upon which withdrawal is made have been in existence, if the shareholder with- draws during the first year of the existence of the shares. (21) Withdrawal fee is charged of a rate per cent of the dues paid in, graduated according to the number of months the shares upon "which withdrawal is made have been in existence, if the shareholder with- draws during the first two years of the existence of said shares. (22) Withdrawal fee is charged of the interest at the fixed rate on the dues paid in during the first year of the existence of the shares upon whieh withdrawal is made. (23) Withdrawal fee is charged of the interest at the fixed rate on the dues paid in during the last six months of the existence of the shares upon which withdrawal is made. (24) Withdrawal fee is charged of one-tenth of the total interest cal- culated at the fixed rate on the dues paid in on the shaies upon which withdrawal is made. 472 KEPORT OF THE COMMISSIONER OF LABOR. The number' of associations reported as operating under this plan and its modifications is as follows: Local.— Alabama, 1; Arkansas, C; California, 25; Colorado, 18; Connecticut, 1; Delaware, 8; District of Columbia, 13; Florida, 10; Georgia, G; Idaho, 2; Illinois, 313; Indiana, 291; Iowa, 32; Kansas,, 39; Kentucky, 8; Louisiana, 1; Maine, 1; Maryland, 19; Michigan, 31; Minnesota, 13; Mississippi, 4; Missouri, 143; Montana, 2; Nebraska, 25; Nevada, 1; .New Hampshire, 2; New Jersey, 5G; New Mexico, 4; New, York, 19; North Carolina, G; North Dakota, 2; Ohio, 4; Oregon, 1; Pennsylvania, 514; South Carolina, 4; South Dakota, 8; Tennessee, 2; Texas, 15; Virginia, 34; Washington, 2; West Virginia, 31; Wis- consin, 21; Wyoming, 2; total local associations, 1,740. National. — Alabama, 1; Colorado, 1; District of Columbia, 1; Flor- ida, 1; Georgia, G; Illinois, 14; Indiana, 3; Iowa, 3; Kentucky, 2; Louisiana, 1; Maryland, 3; Michigan, 1; Minnesota, 1; Missouri, 8; Nebraska, 2; New Jersey, 1; New York, 1; North Carolina, 1; Ohio, 1; Pennsylvania, 2; South Dakota, 2; Tennessee, 2; Texas, 2; Vir- ginia, 3; Washington, 1; Wisconsin, 3; total national associations, 67. PLAN 3. Withdrawing shareholders receive the dues paid in and a graduated rate of interest per annum on such payments. Under this plan withdrawing shareholders receive the dues paid in on the shares upon which withdrawal is made, with interest thereon at various increasing rates per cent per annum, graduated according to the age of the shares. Illustration: A member holding shares which are six years old, four years old, and two years old, respectively, desires to withdraw from the association. He has paid $72 per share as dues in the first class, $48 per share as dues in the second class, and $24 per share as dues in the third class. The conditions governing withdrawals are as follows: Shares withdrawn during the first two years receive 3 per cent per annum on the average investment; during the third year, 4 per cent; during the fourth and the fifth years, 5 per cent, and after the fifth year, 6 per cent. On each share six years old the withdrawing share- holder would receive the dues paid in by him, §72, with interest thereon at the rate of G per cent per annum for the average time of investment, amounting to $12.96, making a withdrawal value of $84.9G. On each share four years old he would receive the dues paid in by him, $48, with interest thereon, at the rate of 5 per cent per annum for the average time of investment, amounting to S4.80, making a withdrawal value of $52.80. On each share two years old he would receive the dues paid in by him, $24, with interest thereon at the rate of 3 per cent per annum for the average time of investment, amounting to 72 cents, making a with- drawal value of $24.72. CHAPTER V. WITHDRAWAL PLANS. 473 Among the associations reported as operating under this plan the following modifications and regulations are found : 1. No withdrawal is allowed to be made upon shares which have not been in existence for a certain specified time, which varies in different associations as follows : Three months ; six months ; one year ; two year*. 2. No interest is allowed if withdrawal is made upon shares which have not been in existence for a certain specified time, which varies in different associations as follows : One month ; three months ; six months ; nine months; one year; eighteen months; two years; three years; four years. 3. Some associations operating under this plan permit withdrawal on only ten shares at any one time and require six months to elapse before another withdrawal can be made by the same person. 4. Among the associations reported as operating under this plan and its modifications the following regulations regarding withdrawal fees are found : (1) Withdrawal fee of 5 cents, 10 cents, 25 cents, 50 cents, or SI per share is charged. (2) Withdrawal fee of 8 cents or 10 cents per share is charged for each month the shares upon which withdrawal is made have been in existence. (3) Withdrawal fee of 10 cents per share per month is charged if the shares upon which withdrawal is made are less than two years old. (4) Withdrawal fee of 25 cents per share is charged if the shares upon which withdrawal is made are less than two years old. (5) Withdrawal fee of $1 per share is charged if the shares upon which withdrawal is made are less than one year old. (G) Withdrawal fee of $1 per transaction is charged. (7) AVithdrawal fee of 50 cents per share is charged and, in addition thereto, 2 per cent of the dues paid in. (8) Withdrawal fee of 2 per cent of the dues paid in is charged. (9) Withdrawal fee of 10 per cent of the dues paid in is charged if the shares upon which withdrawal is made are less than six months old. (10) Withdrawal fee of 3 per cent of the dues paid in is charged if the shares upon which withdrawal is made are more than six months and less than one year old; 2£ per cent of the dues paid in if more than one year and less than eighteen months old. (11) Withdrawal fee of 5 per cent of the dues, or of 10 per cent of the dues, is charged if the shares upon which withdrawal is made are less than one year old ; 2£ per cent of the dues, or of 5 per cent of the dues, is charged if the shares are more than one year but not exceeding two years old. The number of associations reported as operating under this plan and its modifications is as follows . Local.— Arizona, 1 ; Arkansas, 5; California, 8; Colorado, 8; Dela- ware, 4; Georgia, 1; Illinois, 35; Indiana, 15; Iowa, 8; Kansas, 2; 474 REPORT OF THE COMMISSIONER OP LABOR. Maryland, 3; Michigan, 7; Minnesota, 9; Missouri, 29; Nebraska, 8; New Hampshire, 10; New Jersey, 22; New York, 10; North Carolina, 2; Ohio, 2; Pennsylvania, 69; South Carolina, 1; South Dakota, 1; Tennessee, 4; Virginia, 2; West Virginia, 2; Wisconsin, 2; total local associations, 270. National.— Alabama, 1; Colorado, 3; Florida, 1; Georgia, 2; Illi- nois, 13; Indiana, 2; Iowa, 1; Kentucky, 5; Louisiana, 1; Michigan,2; Minnesota, 9; Montana, 1; Nebraska, 2; New York, 9; Pennsylvania, 1; Tennessee, 9; Utah, 1 ; West Virginia, 1 ; total national associations, 64. PLAN 4. Withdrawing shareholders receive the dues paid in and a fixed por- tion of the profits. Under this plan withdrawing shareholders receive the dues paid in on the shares upon which withdrawal is made and a fixed portion, varying in different associations, of the profits apportioned to said shares. Illustration : The maturing value of a share is $200 and the dues per month $1. A member whose shares are two years old has paid in on each share in dues $24, and the profits apportioned each share are $2; 50 per cent of such profits can be withdrawn; therefore, if the member withdraws at the end of said two years he will receive on each share the dues paid in, $24, plus 50 per cent of the $2 profits, or $1, which makes the total amount that may be withdrawn on each share, The portion of the profits allowed on withdrawal ranges in different associations from 5 to 95 per cent. Among the associations reported as operating under this plan the following modifications and regulations are found: 1. One association allows, in addition to the dues paid in, a fixed- amount on each share upon which withdrawal is made instead of a fixed portion of the profits apportioned. 2. In one case the fixed portion allowed is not a fixed portion of all the profits apportioned, but a fixed portion of those remaining after deducting the profits of the first year. 3. No withdrawal is allowed to be made upon shares which have not been in existence for a certain specified time, which varies in different associations as follows: Six months; one year. 4. No profit is allowed if withdrawal is made upon shares which have not been in existence for a certain specified time, which vanes in different associations as follows: One month; two months; three months; six months; nine months; one year; eighteen months; two years; three years; five years. 5. No profit is allowed and but 95 per cent of the. dues paid in can be withdrawn if withdrawal is made upon shares less than one year old. CHAPTER V. WITHDRAWAL PLANS. 475 6. A fixed portion of the profits apportioned can be withdrawn, pro- vided such portion does not exceed 7 per cent per annum interest upon the dues paid in. 7. Among the associations reported as operating under this plan and its modifications the following regulations regarding withdrawal fees are found : (1) Withdrawal fee of 5 cents, 10 cents, or 50 cents per share is charged. (2) Withdrawal fee of 25 cents per share is charged for each year the shares upon which withdrawal is made have been in existence. (3) Withdrawal fee of 25 cents per share is charged, but not more than $5 per transaction. (4) Withdrawal fee of 50 cents per share is charged and, in addition, 8 per cent of the dues paid in, if the shares upon which withdrawal is made are not over one year old; but if said shares are over one year old, then 50 cents per share and 2 per cent of the dues paid iu is charged. (5) Withdrawal fee of $1 per transaction is charged. The number of associations reported as operating under this plan and its modifications is as follows : Local. — Arkansas, 10; California, 11; Colorado, 3; Connecticut, 1; District of Columbia, 1; Idaho, 1; Illinois, 14; Indiana, 7; Iowa, 2; Kansas, 1; Kentucky, 24; Louisiana, 2; Maine, 18; Maryland, 4; Mas- sachusetts, 79; Michigan, 2; Minnesota, 15; Mississippi, 3; Missouri, 19; Nebraska, 8; New Hampshire, 2; New Jersey, 13; New York, 17; North Carolina, 4; North Dakota, 2; Ohio, 2; Oklahoma, 1; Oregon, 7; Pennsylvania, 58; South Carolina, 3; South Dakota, 1; Tennessee, 2; Texas, 0; Washington, 3; Wisconsin, 1; total local associations, 347. National. — California, 2; District of Columbia, 1; Kentucky, 5; Minnesota, 1 ; Missouri, 1 ; New Tork, 2; Washington, 2; total national associations, 14. PLAN 5. Withdrawing shareholders receive the dues paid in and a graduated portion of the profits or a graduated amount. Under this plan withdrawing shareholders receive the dues paid in on the shares upon Avhich withdrawal is made, with a portion of the profits apportioned to such shares, such portion being graduated according to the age of the shares. Or, instead of a graduated portion of the profits, withdrawing shareholders receive, in addition to dues, an amount which increases periodically according to the age of the shares, regardless of profits. Illustration I : A member desires to withdraw at the end of the third year after having paid $36 in dues. The scheme of the association pro- vides that a member withdrawing during the first twenty-four months 476 REPORT OF THE COMMISSIONER OF LABOR. shall receive, in addition to the dues paid in, 75 per cent of the profits apportioned to his shares ; after twenty-four months, 80 per cent ; after thirty months, 85 per cent; after thirty-six months, 90 per cent,* and after forty-two months, 95 per cent. The profits earned by a share at the end of the third year are $4.06, of which the withdrawing member would receive 90 per cent, or $3.65, which, added to the dues, gives the share a withdrawal value of $39.65. Illustration II: An association paying the withdrawing shareholder a graduated amount per share instead of a graduated portion of the profits, allows the following rates: If the withdrawal takes place dur- ing the first year, no profits are allowed; during the second year, 50 cents; during the third year, $1; during the fourth year, $3; during the first six months of the fifth year, $5; during the second six months of the fifth year, $0.50; during the first six months of the sixth year, $8; during the second six months of the sixth year, $10; during the first six months of the seventh year, $12; during the second six months of the seventh year, $14; during the first six months of the eighth year, $16; during the second six months of the eighth year, $18; and after the eighth year, $20. A member withdrawing from this association at the end of the fifth year, after having paid $60 in dues, would receive $8 in addition to his dues, or a total of $68. Among the associations reported as operating under this plan the following modifications and regulations are found: 1. No withdrawal is allowed to be made" upon shares less than one year old. 2. Eb profit is allowed if withdrawal is made upon shares which have not been in existence for a certain specified time, which varies in different associations, as follows: Six months; nine months; one year; two years ; four years ; eight years. 3. In some cases the profits allowed must not exceed a fixed per cent of the profits apportioned, which varies in different associations, as follows: 50 per cent; 80 per cent. 4. Among the associations reported as operating under this plan and its modifications the following regulations regarding withdrawal fees are found: (1) Withdrawal fee of 10 cents per share is charged. (2) Withdrawal fee of 10 cents per share is charged, but not less than 50 cents per transaction. (3) Withdrawal fee of $1 per transaction is charged. 5. If withdrawal is made upon shares less than one year old only 90 per cent of the dues paid in is returned to the shareholder. The number of associations reported as operating under this plan and its modifications is as follows: Local.— Arkansas, 2; California, 38; Colorado, 1; Connecticut, 3; Delaware, 1; Georgia, 1; Illinois, 15; Iowa, 2; Ka.nsas, 3; Kentucky, 3; Louisiana, 18; Maryland, 2; Massachusetts,, 6; Michigan, 2; Min- CHAPTER V. WITHDRAWAL PLANS. 477 nesota, 6; Mississippi, 9; Missouri, 12; Nebraska, G; New Jersey, 42; New Mexico, 1; New York, 23; North Carolina, 3; Ohio, 1; Oregon, 5; Pennsylvania, 99; Bhode Island, 5; South Carolina,!; Tennessee, 2; Texas, 2; Utah, 1; Washington, 1 ; West Virginia, 5; total local asso- ciations, 321. National.— California, 2; New York, 3; Oregon, 2; total national associations, 7. PLAN 6. Withdrawing shareholders receive the dues paid in with a fixed rate of interest thereon, and, in addition, a fixed or a graduated portion of the profits. Under this plan withdrawing shareholders receive the dues paid in on the shares on which withdrawal is made, with interest thereon, at rates varying, in different associations, from 3 per cent to 8 per cent per annum, and, in addition thereto, a fixed portion of the profits appor- tioned to the shares in excess of the interest allowed, or a portion of such profits graduated in accordance with the age of the shares. Illustration: In an association in which the dues are $1 per share per month the profits at the end of four years amount to, say, $10 per share; a shareholder then withdrawing would receive on each share the dues paid in by him,- $48, with interest thereon for the average time of investment, amounting, at G per cent per annum, to $5.7G, and in addition thereto, a fixed portion of the profits in excess of $5.76, of 20 per cent thereof, amounting to one-fifth of $4.24, or 85 cents, making a total of $54. Gl; if instead of a fixed a graduated por- tion of the profits is allowed in addition to the interest, one-tenth of the profits in excess of interest being allowed for each full year the share has been in force, the withdrawing shareholder would be entitled to receive at the end of four years the dues paid in, $48, plus the interest thereon, $5.7G, plus 40 per cent of the profits in excess of said interest, amounting to two-fifths of $4.24, or $1.70, making a total of $55.40. Some associations, instead of allowing a fixed or a graduated por- tion of the profits in addition to interest, allow a fixed or a graduated amount per share, regardless of the profits; for instance, withdrawing members may be paid $1 per share, in addition to interest, on all shares one year old or over; or, the additional amount may be increased from year to year, as the shares increase in age. In a few cases the addi- tional portion of profits or the additional amounts are not allowed unless the shares upon which withdrawal is made are two and, in one instance, three years old at the time of withdrawal; and occasionally only the dues- paid in are returned to withdrawing members if their shares are less than three months, six months, or one year old. A few associations, permitting withdrawals under the plan above described, pay the full "book value," or, as it is sometimes designated, 478 REPORT OF THE COMMISSIONER OF LABOR. the "present value" of the shares upon which withdrawal is made, con- sisting of the dues paid in, together with all profits apportioned tberto, after such shares are eight years old. None of the associations in which withdrawals are made in accord- ance with the plan described are reported as charging withdrawal fees. The number of associations reported as operating under this plan and its modifications is as follows : Local. — Arkansas, 1; California, 1; Illinois, 17; Indiana, 1; Michi- gan, 5; Nebraska, 1; New Jersey, 6; New York, 2; Pennsylvania, 9; total local associations, 43, National. — Illinois, 1; total national associations, 1. PLAN 7. Withdrawing shareholders receive the dues paid in, with a fixed rate of interest thereon during a fixed period and a fixed or a graduated portion of the profits thereafter. Under this plan withdrawing shareholders receive the dues paid in on the shares on which withdrawal is made and, if withdrawal is made within a fixed period from the date of issue of the shares, interest thereon, both the rate of interest and the length of the period varying in different associations ; if withdrawal is made after the expiration of said period, shareholders receive instead of interest either a fixed por- tion of the profits apportioned to the shares or a portion of such profits graduated according to the age of the shares. Illustration : In an association in which the dues are $1 per share per month interest at the rate of G per cent per annum on the dues paid in is allowed the withdrawing shareholder if withdrawal is made on shares less than four years old, and thereafter, in lieu of said interest, a fixed portion of 5') per cent of the profits apportioned is allowed. If a shareholder withdraws when his shares are three years old he will receive on each share $36, dues paid in, with interest at G per cent per annum thereon, amounting for the average time of investment to $3.24, making the total amount he will withdraw on each share $36 plus $3.24, or $39.24. If said shareholder withdraws when his shares are five years old, the profits earned by each share being $15, he will receive on each share $60, dues paid in on same, together with 50 per cent of the $15, or $7.50, making the total amount he will withdraw on each share $60 plus $7.50, or $67.50. If instead of a fixed a graduated portion of the profits is allowed after a fixed period, which is, say, 50 per cent of the profits when share is four years old, 60 per cent when five years old, 70 per cent when six years old, etc., then, at the end of the five years, he will receive on each share $60, dues paid in on same, plus 60 per cent of $15, or $9, making the total amount he will withdraw $60 plus $9, or $69. Among the associations reported as operating under this plan the following modifications and regulations are found: CHAPTEE V, WITHDRAWAL PLANS. 479 1. A portion of the profits apportioned to the shares, arbitrarily fixed by the board of directors, is given after the expiration of the fixed period during which interest is paid, instead of a fixed or graduated portion of the profits. Illustration: If, in the case illustrated above, the board of directors should give a shareholder, -withdrawing when his shares were five years old, an arbitrary allowance of two-thirds of the profits apportioned he would receive on each share $60, dues paid in, plus two-thirds of $15, or $10, making the amount withdrawn on said share $60 plus $10, or $70. Some associations, in which an arbitrary allowance is given, provide that such allowance shall not bo less than 50 per cent of the profits apportioned and some that it shall not be less than 75 per cent of the same. 2. All the profits apportioned are given after the expiration of the fixed period during which interest is paid, instead of a fixed or gradu- ated portion of said profits. Illustration : If, in the case illustrated above, all the profits are given after the fixed period a shareholder withdrawing when his shares are five years old will receive on each share $60, dues paid in, plus $15, all the profits apportioned, making the amount he will withdraw on said share $75. 3. Some of the associations allowing a fixed rate of interest for a fixed period and all profits thereafter give, in addition to the fixed rate of interest during part of the fixed period, an arbitrary amount. The particular cases reported are as follows : (1) Fixed rate of interest allowed where shares on which withdrawal is made are less than six years old, with an arbitrary amount additional from the fourth to the sixth year, inclusive, and all profits thereafter. (2) Fixed rate of interest allowed when shares on which withdrawal is made are less than seven years old, with an arbitrary amount addi- tional from the fourth to the seventh year, inclusive, and all nrofits thereafter. 4. "No withdrawal is allowed to be made upon shares which have not been in existence for a certain specified time, which varies in different associations as follows: Six months; one year; two years. 5. No interest or profit is allowed if withdrawal is made upon shares which have not been in existence for a certain specified time, which varies in different associations as follows: Two months; three months; six months ; one year ; a time arbitrarily fixed by the board of directors. 6. The fixed period during which a fixed rate of interest is given in case of withdrawal varies in different associations as follows: One year; two years; twenty-six months; three years; four years; five years; six years; seven years; eight years; ten years. 7. Among the associations reported as operating under this plan and its modifications the following regulations regarding withdrawal fees are found : 480 REPORT OF THE COMMISSIONER OF LABOR. (1) Withdrawal fee of 10 cents, 20 cents, 25 cents, 50 cents, or $1 per share is charged. (2) Withdrawal fee of 10 cents per share is charged for each month the shares upon which withdrawal is made have been in existence. (3) Withdrawal fee of 50 cents per share is charged if the shares upon which withdrawal is made are less than one year old. (4) Withdrawal fee of 50 cents per share is charged, but not less than $1 nor more than $2.50 per transaction. (5) Withdrawal fee of $1 per share is charged if the shares upon which withdrawal is made are six years old. (6) Withdrawal fee of $2 per share is charged if the shares upon which withdrawal is made are eight years old. (7) Withdrawal fee of $6 per share is charged if the shares upon which withdrawal is made are seven years old. (8) If the shares upon which withdrawal is made are in the sixth year of their existence a withdrawal fee of $5 per share is charged, if in their seventh year a fee of $4 per share, if in their eighth year a fee of $3 per share, if in their ninth year a fee of $2 per share, and if in their tenth year a fee of $1 per .share. No withdrawal fee is charged prior to the sixth year nor after the tenth year of the share's existence. (9) During the first year of the existence of the shares upon which withdrawal is made a fee of 25 cents per share is charged, during the second year a fee of 50 cents per share, from the third to the seventh years inclusive no fee is charged, during the eighth year a fee of $8 per share, and after the eighth year a fee of $6 per share. The number of associations reported as operating under this plan and its modifications is as follows : Local. — California, 10 ; District of Columbia, 1 ; Florida, 1 ; Illinois, 45; Indiana, 10; Iowa, 2; Kansas, 1; Maryland, 1; Michigan, 7; Min- nesota, 2; Mississippi, 1; Missouri, 2; Montana, 2; New Jersey, 6; New York, 26 ; Ohio, 2 ; Pennsylvania, 14 ; South Dakota, 1 ; Tennessee, 2; Washington, 1; West Virginia, 1; Wisconsin, 1; total local asso- ciations, 139. National. — Alabama, 1 ; California, 2 ; Georgia, 3 ; Illinois, 1 ; Indi- ana, 4; New York, 2; Tennessee, 3; Virginia, 2; total national asso- ciations, 18. PLAN 8. Withdrawing snareholders receive the clues paid in with a graduated rate of interest thereon during a fixed period, and either a fixed or a graduated portion of the profits thereafter. Under this plan withdrawing shareholders receive the dues paid in on the shares on which withdrawal is made and, if withdrawal is made within a fixed period (varying in different associations) from the date of issue of the shares, interest thereon at various increasing rates per cent per annum graduated according to the age of the shares; if with- CHAPTER V. WITHDRAWAL PLANS. 481 drawal is made after the expiration of said period shareholders rsceive instead of interest either a fixed portion of the profits apportioned to the shares or a portion of such profits graduated according to the age of the shares. Illustration : An association in which the dues are $1 per month per share provides for paying its withdrawing members, during the first six months their shares are in force, only the amount of dues that has been paid in; during the second six months, in addition to the dues, 5 per cent interest per annum thereon for the average time of investment; during the second year, 5£ per cent; during the third year, G per cent; during the first six months of the fourth year, 6 J per cent; during the last six months of the fourth year, 7 per cent; during the first six months of the fifth year, 7£ per cent; during the last six mouths of the fifth year, 8 per cent; after the fifth year, at any time prior to maturity, 85 per cent of the profits apportioned to the shares. If a member with- draws when his shares are fifty months old ho receives, per share, the dues paid thereon, $50, and 7£ per cent per annum interest thereon for the average time of investment, amounting to $7.81, making a total of $57.81. Should he withdraw at the end of the sixth year, and the profits at that time amount to $20 per share, he would- receive the dues paid in, $72, and, in addition thereto, 85 per cent of $20, or $17, making a total of $89. If, after the fourth year, a graduated portion instead of a fixed por- tion of the profits is allowed, G5 per cent of the profits. being allowed during the fifth year, 70 per cent during the sixth year, 75 per cent during the seventh year, 80 per cent during the eighth year, 85 per cent during the ninth year, and 90 per cent after the expiration of the ninth year, at any time prior to maturity, a withdrawing shareholder would receive upon withdrawal made after having paid in dues for six years the amount of such dues, $72, and 75 per cent of the profits, $15, making a total of $87 per share. Among the associations reported as operating under this plan the following modifications and regulations are found : 1. If withdrawal is made after the expiration of the fixed period during which a graduated rate of interest is allowed, withdrawing shareholders receive such portion of the profits as the managers of the association may from time to time determine. 2. If withdrawal is made after the expiration of the fixed period during which a graduated rate of interest is allowed, withdrawing shareholders receive all the profits which have been apportioned to their shares instead of a fixed or a graduated portion thereof. 3. No withdrawal is allowed to be made upon shares which have not been in existence for a certain specified time, which varies in different associations. 4. No interest or profit is allowed if withdrawal is made upon shares which have not been in existence for a certain specified time, which H. Ex. 209 31 482 REPORT OF THE COMMISSIONER OF LABOR. varies in different associations as follows: Six months; one year; eighteen months; two years. 5. Withdrawing shareholders receive the dues paid in with a gradu- ated rate of interest thereon until clues and profits amount to one-half the maturing value of a share, and either a fixed or a graduated portion of the profits thereafter. G. The fixed period during which a graduated rate of interest is given in case of withdrawal varies in different associations as follows: Three years; four years; four and one-half years; five years; six years; seven years; eight years; nine years. 7. Among the associations reported as operating under this plan and its modifications the following regulations regarding withdrawal fees are found : (1) Withdrawal fee of 25 cents per share is charged. (2) Withdrawal fee of 10 cents per share is charged for each month the shares upon which withdrawal is made have been in existence. (3) Withdrawal fee of 10 cents per share is charged if the shares upon which withdrawal is made are less than six months old. (4) Withdrawal fee of 35 cents per share is charged if the shares upon which withdrawal is made are less than one year old, 10 cents per share if between one and two years old. (5) Withdrawal fee of 10 per cent of the dues paid in is charged if the shares upon which withdrawal is made are less than one year old. (G) Withdrawal fee of $5 per share is charged if the shares upon which withdrawal is made are nine years old. The number of associations reported as operating under this plan and its modifications is as follows: Local.— California, 5; Illinois, 18; Iowa, 1; Maryland, 2; Michigan, 4; Minnesota, 4; Mississippi, 1; Missouri, 1; Montana, 1; Nebraska, 2; New Hampshire, 1; New Jersey, 19; New York, 10; Pennsylvania, 10 ; Tennessee, 1 ; total local associations, 80. National. — Illinois, 2; Indiana, 5; Minnesota, 3; Missouri, 1; New York, 1; South Dakota, 1; Virginia, 2; total national associations, 15. PLAN 9. Withdrawing shareholders receive the dues paid in with a graduated portion of the profits during a fixed period, and all the profits there- after. Under this plan withdrawing shareholders receive the dues paid in on the shares on which withdrawal is made and, if withdrawal is made within a fixed period (varying in different associations) from the date of issue of the shares, a portion of the profits apportioned to the shares graduated according to the age of the shares; if withdrawal is made after the expiration of said period, shareholders receive all the profits apportioned to the shares instead of a portion. CHAPTER V. — WITHDRAWAL PLANS. 483 Illustration : The bylaws of an association provide that shareholders ■withdrawing at the end of the first fifteen months from the date of issue of their shares shall receive all dues paid by them, together with 1G§ per cent of the profits apportioned to their shares ; after two years, 33-J per cent; after three years, 50 per cent; after four years, GGf per cent; after five years, 83£ per cent; after six years, all profits appor- tioned. A shareholder in the above association desires to withdraw after having paid dues for three years at $1 per share per month. The profits apportioned to his shares equal $8.80 per share, of which, according to the foregoing scheme, he receives 50 per cent, or $4.40. This amount added to $30, the amount of dues paid by him, gives a withdrawal value of $40.40 per share at the end of the third year. But if the shareholder retains his membership until the expiration of the sixth year the withdrawal value of a share will be an amount equal to the total dues paid in plus all the profits apportioned thereto. Among the associations reported as operating under this plan the following modifications and regulations are found: 1. Instead of all profits the shareholder withdrawing at the expira- tion of a fixed period receives, in addition to his dues, such rate of interest or specific amount as the board of directors may from time to time determine. 2. Instead of a graduated portion of the profits the shareholder with- drawing during a fixed period receives, in addition to his dues, a fixed portion of the profits. 3. Withdrawing shareholders receive the dues paid in with a fixed portion of the profits during a fixed period, and a graduated portion of the profits thereafter. 4. No withdrawal is allowed to be made upon shares which have not been in existence for a certain specified time, which varies in different associations as follows : Six months ; one year. 5. No profit is allowed if withdrawal is made upon shares which have not been in existence for a certain specified time, which varies in differ- ent associations as follows: One month; three months; six months; nine months; one year; two years; three years; four years; five years. 6. The fixed period during which a graduated portion of the profits is given in case of withdrawal varies in different associations as fol- lows: One and one-half years; two years; two and one-half years; five years; six years; seven years;, eight years; nine years; ten years; eleven years ; twelve years. 7. If withdrawal is made after the expiration of the fixed period dur- ing which a graduated portion of the profits is allowed, a deduction 5 per cent is made on all profits apportioned to the shares. 8. Some associations charge a withdrawal fee_of 15 cents per share; others of 25 cents per share, regardless of the age of the shares upon which withdrawals are made. 484 REPORT OF THE COMMISSIONER OF LABOR. The number of associations reported as operating under this plan and its modifications is as follows: Local. — Connecticut, 1; Illinois, 16; Iowa, 1; Massachusetts, 3; Nebraska, 1; New Jersey, 16; New York, 38; Pennsylvania, 13; South Dakota, 1; West Virginia, 1; total local associations, 91. National. — Illinois, 1; total national associations, 1. FLAN 10. Withdrawing shareholders receive the dues paid in and an arbitrary allowance of profits. Under this plan withdrawing shareholders receive the dues paid in on the shares on which withdrawal is made with such rate of interest, portion of the profits, or specific amount as the management of the association may from time to time determine. Illustration : In an association requiring monthly payment of dues at the rate of $1 per share the board of directors decides, at the end of the sixth year, that the earnings have been sufficient to justify the pay- ment to withdrawing shareholders of G per cent interest per annum on the dues paid in for theaverage time of investment. A member then withdrawing would be paid his dues, $72, and G per cent interest thereon, $12.96, making a total of $84.96. If, instead of interest, a . part of the apportioned profits is allowed and at the end of the sixth year the board of directors decides to allow 75 per cent thereof, the , entire profits amounting to $20 per share, the withdrawing shareholder would receive $87 per share, and if, instead of either interest or a part of profits, it should bo decided to pay a specific amount, as, for in- stance, $10 per share, he would receive $82. Among the associations reported as operating under this plan the following modifications and regulations arc found: 1. No withdrawal is allowed to be made upon shares which have not been in existence for a certain specified time, which varies in different associations as follow: Six months; one year; two years. 2. No interest or profit is allowed if withdrawal is made upon shares which have not been in existence for a certain specified time, which varies in different associations as follows: One month; sixty days; two months; three months; six months; nine months; one year; eighteen months; two years; three years; four years. 3. The allowance in addition to dues must not be less than interest at a certain fixed rate per cent per annum thereon, which varies in different associations as follows: 3; 4; 4£; 5; 6; 8. 4. The allowance in addition to dues must not be more than interest at a certain fixed rate per cent per annum thereon, which varies in different associations as follows: 4; 6; 8; 12. 5. The allowance in addition to dues must not be less than a certain fixed portion of the apportioned profits, which varies in different asso- ciations as follows: 50 per cent; 60 per cent; 70 per cent; 75 per cent. CHAPTER V. WITHDRAWAL PLANS. 485 6. The allowance in addition to dues must not be more than a certain fixed portion of the apportioned profits, which varies in different asso- ciations as follows: 75 per cent; 90 per cent. 7. The -allowance in addition to dues must not be less than 4£ per cent per annum thereon, if withdrawal is made during the first two years of the existence of the shares ; after two years such allowance must not be less than 75 per cent of the apportioned profits. 8. The allowance in addition to dues must be within certain fixed limits, varying in different associations as follows : Not less than 3 nor more than 6 per cent per annum, or not less than 3 nor more than 8 per cent per annum on the dues paid in ; not less than 70 nor more than 90 percent of the apportioned profits. 9. Withdrawal is not allowed on more than ten shares at one time, nor on more than five shares during the three months succeeding such withdrawal by the same shareholder. 10. If withdrawal is made during the first three months of the exist- ence of the shares, the dues only are returned; during the next three months, the dues paid in with 4 per cent interest per annum thereon; after six months the allowance is arbitrary. 11. All the apportioned profits, iu addition to dues, are paid to with- drawing shareholders after their shares are five years or six years old. 12. Among the associations reported as operating under this plan and its modifications the following regulations regarding withdrawal fees are found : (1) Withdrawal fee of 5 cents, 25 cents, 50 cents, or $1 per share is charged. (2) Withdrawal fee of $1 per share is charged if the shares upon which withdrawal is made are less than one year old. (3) Withdrawal fee of 5 per cent of the dues paid in is charged. (4) Withdrawal fee of 5 per cent of the dues paid in is charged if the shares upon which withdrawal is made are less than six months old. (5) Withdrawal fee of 5 per cent or 10 per cent of the dues paid in is charged if the shares upon which withdrawal is made are less than one year old. (0) Withdrawal fee of all profits apportioned if the shares upon which withdrawal is made are less than one year old. The number of associations reported as operating under this plan and its modifications is as follows : Local. — Alabama, 12; Arkansas, 3; California, 18; Colorado, 6 Connecticut, 1 ; Delaware, 2; District of Columbia, 2; Florida, 3; Geor- gia, 7; Illinois, 93; Indiana, 3; Iowa, 12; Kansas, 7; Kentucky, 13 Louisiana, 1; Maine, 2; Maryland, 32; Massachusetts, 4 ; Michigan, 1 Minnesota, 21; Mississippi, 3; Missouri, 75; Montana, 1; New Hamp shire, 1 ; New Jersey, G6 ; New York, 32 ; North Carolina, 4 ; Ohio, 10 Pennsylvania, 93: Ehode Island. 1; South Carolina, 1; Tennessee, 13 486 REPORT OF THE COMMISSIONER OF LABOR. Texas, 1; Utah, 1; Virginia, 4; Washington, 4; Wisconsin, 5; total local associations, 558. National. — Alabama, 1 ; Georgia, 1 ; Kentucky, 2 ; Missouri, 1 ; New Hampshire, 1; New York, 1; Oregon, 1; total national associations, 8. PLAN 11. Withdrawing shareholders receive the dues paid in and all the profits. Under this plan withdrawing shareholders receive the dues paid in on the shares upon which withdrawal is made and, in addition, all the profits earned by or credited to such shares. In some cases interest is allowed on the dues paid in since the date of the last apportionment of profits at rates varying in the different associations as follows : 3 per cent; 4 per cent; 6 per cent; 10 per cent. Illustration: In an association in which the dues are $1 per month per share and the profits are apportioned semi-annually all the profits credited are allowed on withdrawal. A shareholder withdraws when his shares are four years old; he has paid in on each share during said four years $48 in dues, and the profits apportioned to each share are $8; said shareholder will therefore receive, on each share upon which withdrawal is made, $48 plus $8, or $56. In case interest is allowed on the dues paid in since the last distributing, period, suppose the rate of such interest to be 6 per cent per. annum, and the shares upon which withdrawal is made to be four years and three months old; the dues paid in on each share are $51, and the profits shown as credited at the end of four years, date of last apportionment, are $8. The shareholder will then receive on each share upon which withdrawal is made $51, dues paid in thereon ; $8, profits last apportioned, and 6 per cent inter- est on $3 paid in as dues since last apportionment, which, for one and one-half months, the average time of investment, would be 2 cents, making a total of $59.02. Among the associations reported as operating under this plan the following modifications and regulations are found : 1. In some associations all tbe profits credited are allowed only in case they do not exceed interest on the dues paid in at a certain fixed rate which varies in the different associations as follows: 6 per cent; 8 per cent. 2. In one association the profits paid on withdrawal must amount to at least 6 per cent interest on the. dues paid in whether the profits earned or credited amount to so much or not. 3. No withdrawal is allowed to be made upon shares which have not been in existence for a certain specified time, which varies in different associations as follows: Three months; six months; one year; two years ; three years. 4. No interest or profit is allowed if withdrawal is made upon^shares which have not been in existence for a certain specified time, which CHAPTER V, WITHDRAWAL PLANS. 487 varies hi different associations as follows: One week; two weeks; one month; three months; thirteen weeks; four months; twenty weeks; six months; thirty weeks; eight months; nine months; one year; fifteen months; eighteen months; two years; three years; thirty-nine months; four years ; five years. 5/ In one association withdrawal is not allowed upon more than ten shares at one time, nor upon more than five shares at one time during the six months succeeding such withdrawal by the same shareholder. G. Among the associations reported as operating under this plan and its modifications the following regulations regarding withdrawal fees are found : (1) Withdrawal fee of 5 cents, 8 cents, 10 cents, 15 cents, 25 cents, 30 cents, 50 cents, $1, or $1.50 per share is charged. (2) Withdrawal fee of 5 cents per share is charged if the shares upon which withdrawal is made are less than six months old. (3) Withdrawal fee of 5 cents per share is charged for each week the shares upon which withdrawal is made have been- in existence. (4) Withdrawal fee of 5 cents per share is charged for each week the shares upon which withdrawal is made have been in existence, if less than one year old. (5) Withdrawal fee of 5 cents per share is charged for each month the shares upon which withdrawal is made have been in existence. (G) Withdrawal fee of 5 cents per share is charged for each six months the shares upon which withdrawal is made have been in, exist- ence. (7) Withdrawal fee of 5 cents ;per share is charged for each month the shares upon which withdrawal is made have been in existence, if less than one year old ; if one year but less than two years old, 4 cents per share for each month of existence; if two but less than three years old, 3 cents per share for each month of existence, and if three years old or over, 2 cents per share for each month of existence. (8) Withdrawal fee of 10 cents per share is charged, but not more than $5 per transaction. (0) Withdrawal fee of 20 cents per share is charged, but not less than $1 per transaction. (10) Withdrawal fee of 50 cents per share is charged, but not less than $1 nor more than $3 per transaction. (11) Withdrawal fee of $1 per share is charged, if the shares upon which withdrawal is made are less than one year old. (12) Withdrawal fee of $1 per share is charged, but only if the appor- tioned profits amount to $1; if not, the apportioned profits only are charged as a withdrawal fee. (13) Withdrawal fee of 10 cents, 25 cents, 50 cents, or $1 per trans- action is charged. (14) Withdrawal fee of a fixed portion of the dues paid in is charged, which varies in different associations as follows : G per cent; 10 per 488 REPORT OP THE COMMISSIONER OF LABOR. cent; 25 per cent; 3 per cent if the shares upon which withdrawal is made are less than one year old, and 1 J per cent if said shares are one year but less than two years old ; 5 per cent if the shares upon which withdrawal is made are less than one year old; 10 per cent if the shares upon which withdrawal is made are less than six months old; 10 per cent if the shares upon which withdrawal is made are less than one year old; the first payment of dues; one week's dues; dues paid during first three months of shares' existence. (15) Withdrawal fee of a portion of the dues paid in, graduated according to the age of the shares upon which withdrawal is made if less than one year old. (1G) Withdrawal fee of a fixed part of the apportioned profits which varies in different associations as follows : 2 per cent of said profits if the shares upon which withdrawal is made are less than one year old; 5 per cent of said profits; 10 per cent of said profits; 40 per cent of the last declared dividend; one-half of the last declared dividend; one- half of the last six months' profits; the last declared dividend; profits of the last three months; profits of the last six months; profits of the last two years; 10 per cent of the last two dividends; profits of the first ten weeks; profits of the first thirteen weeks; profits of the first six months; ten weeks' profits and 10 cents per share additional. (17)' Withdrawal fee of a fixed portion of the book or present value (dues paid in plus the apportioned profits) of the shares upon which withdrawal is made, which varies in the different associations as follows : 2 per cent; 5 per cent; 10 per cent; 5 per cent if the shares upon which withdrawal is made are less than one year old; 5 per cent plus the profits made by the dues paid in upon the shares upon which with- drawal is made during the first year of their existence ; 8 per cent if the shares upon which withdrawal is made are less than two years old; G per cent if two bat less than three years old; 5 per cent if three but less than four years, and 4 per cent if four years old or over ; 10 per cent and, in addition, whatever the shareholder may bid for" the privilege of withdrawing. (18) Withdrawal fee of such an amount as the shareholder may bid for the privilege of withdrawing. (19) Withdrawal fee of an amount equal to the averago premium paid on the loans made to members of the association previous to the date of withdrawal. (20) Withdrawal fee of an amount equal to the average premium paid on the loan's made to members of the association during the month in which the withdrawal is made. (21) Withdrawal fee of 25 per cent of the profits is charged unless 5 per cent of the difference between the book or present value (dues paid in plus the apportioned profits) and the maturing value is less than 25. per cent of the profits, in which case 5 per cent of said difference is charged as the withdrawal fee. CHAPTER V. WITHDRAWAL PLANS. 489 (22) Withdrawal fee of an amount graduated according to the age of the shares upon which withdrawal is made. (23) One-fifth of the profits resulting from fiues and premiums. The number of associations reported as operating under this plan and its modifications is as follows: Local. — Alabama, 1; Arizona, 1; Arkansas, 1; California, 4; Colo- rado, 4; Connecticut,?; Delaware, 5; District of Columbia, 9 ; Florida, 6; Georgia, 4; Illinois, 48; Indiana, 93; Iowa, 13; Kansas, 7; Ken- tucky, 05; Louisiana, 2; Maine, 8; Maryland, 168; Massachusetts, 18; Michigan, 7; Minnesota, 9; Mississippi, G; Missouri, 33; Nebraska, 3; New Jersey, 16; New York, 206; North Dakota, 1 ; Ohio, 680; Oregon, 1; Pennsylvania, 148; Tennessee, 31; Utah, 2; Virginia, 18; Wash- ington, 1; West Virginia, 0; Wisconsin, 8; total local associations, 1,640. National. —California, 1 ; Illinois, 5; Kansas, 1; Kentucky, 2 ; Min- nesota, 1; Mississippi, 2; Missouri, 3; New York, 5; Ohio, 2; Tennes- see, 1; West Virginia, 1; total national associations, 24. PLAN 12. Withdrawing shareholders receive the dues paid in, with such propor- tion of the nrofits as the present value of their shares is of the maturing value. Illustration : Iu an association requiring payment of dues at the rate of $1 per share per month the apportioned profits at the end of the third year amount to $ 14 per share, which, added to the dues paid in, 3, makes the present value of a share $50; the maturing value is ), and the present value is to the maturing value as 1 is to 4, or it is one-fourth thereof; therefore, a shareholder then withdrawing would be entitled to receive one-fourth of the profits, $3.50, in addition to his dues, making a total withdrawal value of $39.50 per share. If with- drawal is made upon shares before any profits have been apportioned thereto their holder receives the dues paid in. No withdrawal fees are reported as being charged iu connection with this plan. The number of associations reported as operating under the plan, all of which are local, is as follows : Minnesota, 2 ; New York, 1 ; Tennessee, 4; total, 7. CHAPTER VI. GENERAL LEGISLATION RELATING ESPECIALLY TO BUILDING AND LOAN ASSOCIATIONS. 491 CHAPTER VI. GENERAL LEGISLATION RELATING ESPECIALLY TO BUILDING AND LOAN ASSOCIATIONS. The laws of the various states and territories, as reproduced in this chapter, arc only such general laws as relate especially to, or govern the organization and conduct of building and loan and similar associa- tions, the general laws concerning corporations being omitted; but it is to be borne in mind that such general laws, when not in conflict with the statutes here published, have the same bearing upon building and loan associations as upon other corporations, and they should, therefore, be consulted in case information concerning the laws govern- ing corporations generally is desired. ALABAMA. CODE OF 1886. Volume I, Section 455. Building and loan associations doing business in this state are not required to return, as part of their taxable property, notes and mortgages made and executed to them by their stockholders or members for purchases, loans, or advances on stock made at the distribution of the funds thereof, if the stockholders or mem- bers obtaining su,ch purchases, loans, or advances pay the tax levied and assessed on the wholo value of the property so mortgaged; otherwise, such associations must re- turn for taxation the amount of their capital held by the stockholders or members on such purchases, loans, or advances, and also the average amount of money held by them during the year preceding that for which their assessment returns are made. Sec. 1553. Three or more persons, associating as a building and loan association, may become a body politic and corporate in the mode, and with the powers and capacity in this chapter expressed ; and such corporation may eontinue for twenty years. Sec. 1554. Such persons must file in the offico of the judge of probate of the county in which it is proposed the association shall have its principal place of business, a declaration in writing, signed by each of them, stating— 1. The name and style under which it is proposed to incorporate such association. 2. The amount of tho capital stock, and the number of shares into which it is divided. 3. Tho names and residences of tho associates or subscribers to tho declaration, and the principal place of business of the cwporation. 4. Tho purposes of the corporation and the nature of its business, and such other matters as they may deem desirable. Sec. 1555. The judge of probate must record such declaration, and must issue to the subscribers, their associates and successors a certificate of incorporation, under the seal of his office, stating therein the filing and record of such declaration, the name and style of such corporation, the location or principal place of business 493 494 REPORT OF THE COMMISSIONER OF LABOR. thereof, and that the subscribers, their associates and successors are a body politic and corporate ; and thereafter such corporation must be deemed duly organized. Sec. 1556. Such corporation has power — 1. To Uavo succession by its corporate name for the period expressed in the decla- ration, not exceeding twenty years. 2. To sue and be sued; and, if deemed necessary, to have a common seal, and the same at pleasure to alter or change. 3. To hold, purchase, dispose of, and convey such real or personal property as may be necessary for the uses and business of the corporation. 4. To appoint and remove, at pleasure, such officers and agents as the business of the corporation may require, prescribing their duties and fixing their compensation; and to make all needful rules and regulations and bylaws for the transaction of its_ business, and the management and control of its affairs. 5. To levy monthly contributions from the shareholders, not to exceed one dollar per share in any one month. 6. To compel payment, and compliance with all lawful orders by fines and for- feitures. 7. To acquire real estate, to erect buildings, and the same to let to any shareholder of the corporation, or to sell to such shareholder on such terms as may be fixed by its bylaws. 8. To aid shareholders in the erection or improvement of houses by loans of the funds of the association, on such security as may be fixed by the bylaws. 9. AYhen funds are on hand, to lend the same to any shareholder of the corpora- tion, on such security, and on such terms and conditions as may be prescribed by the bylaws ; but the security shall bo a mortgage on real estato sufficient to protect the association. 10. When deemed advisable, or w*hen two or more shareholders desire to borrow funds on hand, the association may lend such funds to the highest bidder; and all shareholders shall have equal opportunities to bid under such regulations as may bo prescribed by the bylaws; but no shareholder shall borrow or purchase the loan of more than two hundred dollars for each share held by him. 11. To prescribe uniform sales of monthly instalments, in which the loans made are to bo repaid according to the terms agreed on; and if loaned to the highest bidder, according to the terms of the purchase. 12. To secure the payment of instalments and loans, and a compliance with all the terms on which loans are purchased, by mortgages with power of sale on real estate, and the same to foreclose, in case of default, by a public sale to the highest bidder, and by conveyance to the purchaser; and such purchaser need not be a shareholder. 13. In determining the amount of the capital stock of the association, each share shall bo valued at fifty dollars. ACTS OF 1888-'89. Act No. 24. Suction 1. The capital stock of building and loan associations, incorporated under the general laws of this state, may be increased to a sum not exceeding two million dollars by the vote of the persons holding the larger amount in value of the capital stock at a meeting of the stockholders called for that purpose of which meeting and the purpose for which it is called, thirty days notice must be given by publication for four consecutive weeks in some newspaper published in the town or city in which the corporation is located, and if at Buch meeting the persons holding the larger amount in value of the stock vote for such increase, the proceedings of the meeting must be reduced to writing, signed by the president or other head of the corporation, and filed and recorded in the office of the judge of probate of the CHAPTER VI. GENERAL LEGISLATION — ALABAMA. 495 county in which the corporation has its principal p.ace of business. In determining the amount of the increased eapital stock of all building and loan associations incor- porated prior to the code of 1876, each share shall be valued at not less than forty nor more than fifty dollars. ACTS OF 1892-'93. Act No. 280. Section 1. No building and loan association shall pledge, hypothecate or trans- fer any note, bond, mortgage or securites which said association may obtain for money loaned or otherwise. But this section shall not apply to building and loan associations heretofore organized under the laws of this state. Sec. 2. No building and loan association organized under the laws of any other state, territory or foreign government, shall do business in this state, unless said association shall deposit and continually thereafter keep deposited in trust for all of its members and creditors, with some responsible trust company or the state treas- urer, mortgages or other securities received by it in the usual course of its business amounting in actual value to the sum of fifty thousand (50,000) dollars ; Provided, that c:ny such association as may desire may file with the state treasurer the certifi- cate of tho proper state officer of another state, or the president and treasurer of some responsible trust company or trustee, certifying that it has on deposit securi- ties as herein required. All of the personal obligations of its members taken in the ordinary course of its business and secured by first mortgage on real estate, all divi- dends; interest and premiums which may accrue on securities held in trust as afore- said, and all dues or monthly payments which may becomepayable on stock pledged as security for loans, the mortgage [s] for which are on deposit as herein required, may bo collected and retained by tho association so depositing such securities or mortgages so long as such association remains solvent and faithfully performs all of its contracts with itB members. Any securities on deposit as heroin provided may from timo to time be withdrawn if others of equal value be substituted therefor, but if such company is at tho timo of withdrawing such securities winding up its business in this stato, then such company need only substitute for such securities so withdrawn other securities equal in value to the amount of such company's liabilities in the state at the timo of such withdrawal. Every building and loan association organized in this stato or any other stato, territory or foreign government, shall pay as a license for doing business in this stato tho sum of two hundred (200) dollars per annum in lieu of all other licenses and taxation, except as hereinafter provided, into tho office of tho stato auditor, who shall deposit tho sarao in the stato treasury, for the use of tho state. Sec. 3. When by the laws of any other stato, territory or foreign government, any taxes, fines, penalties, licenso fees, deposits of money or securities, or other obliga- tions, requirements or prohibitions, are imposed upon building and loan associations of this state, doing business in such other stato, territory or foreign government, or upon their agents therein, so long as sueh laws shall continue in force, the same obligations, requirements and prohibitions of whatever kind shall bo imposed upon all building and loan associations of such other states, territories or foreign govern- ments doing business in this state, and upon their agents here; Provided, that this section shall not apply to building and loan associations which have heretofore established branches or agencies in this state. Sec. 4. Building and loan associations, as used in this act, shall include all cor- porations, societies or loan and investment companies, or all organizations or associa- tions doing a saving and loan business upon the building and loan plan. Sec. 5. Any premiums, fiues or stock heretofore taken and hereafter taken to represent premiums for loans made by any building and loan association doing busi- ness in this stato, shall not be treated as interest, nor render such association 496 REPORT OF THE COMMISSIONER OF LABOR. amenable to tho laws relating thereto ; but the said premiums, fines and stock taken to represent premiums, shall be collected as debts of like amount are now collected by law, and according to the terms and stipulations of the agreements or contract between the association and its members, and in case of any building and loan association which does not, under its methods, charge premiums of the borrower, it shall not be deemed usury that the payments shall be required monthly, when the contract on its face charges only 6 per cent interest. Sec. C. Every building and loan association doing business in this state shall be assessed for and pay taxes upon its office fixtures and furnituro, and all real estate acquired in the usual course of its business. Sec. 7. All the officers at the home office of any building and loan, association governed by this act, and doing business in this state, who handle any of the funds of such associations, shall give sufficient bonds for the faithful performance of their duties as the board of directors may require, and no such officer shall be deemed qualified to enter upon the discharge of the duties of his office until his bond is approved by the board of directors. Sec. 8. This act shall not apply to any building and loan association organized under the laws of this state which confines its loaning and business operations wholly to its county. Sec. 9. Any building and loan association doing business in this state without hav. ing first complied with the provisions of this act, shall be fined not less than one hundred (100) dollars, and not more than five hundred (500) dollars, to be recovered by an action iu the name of the state, and on collection paid into the state treasury for the use of the state; Provided, that building and loan associations organized in other states and territories having heretofore transacted business in this state, and not desiring to comply with the provisions of this act, shall have the right to wind up their business and fulfil their contracts with citizens of this state through their authorized agents, without being subject to the penalties herein provided. Sec. 10. All building and loan associations organized in other states and terri- tories and doing business in this state before the passage and approval of this act, shall have until the 1st day of June, 1893, to comply with the provisions of this act. ARIZONA. The laws of this territory contain no general legislation relating especially to building and loan associations. ARKANSAS. DIGEST OF 1884. Section 5614. The shares of stocks of mutual loan and building associations shall be assessed at their cash value, but only the unredeemed shares of such stock, or those not transferred to the association, shall bo taxed, and such unredeemed shares shall be listed in tho name of the individual owners thereof. Sec. 5645, (as amended by section 17 of .act 92, acts of 1S87). * * * Mutual loan [and] building " * companies, corporations or associations, incorporated under the laws of this state, or under the laws of any other state, and doing business in this state, iu addition to tho other property required by this act to be listed, shall, through their president, secretary, principal accounting officer or agent, annually, during tho month of July, make out and deliver to the assessor of the county where said company or corporation is located or doing business a sworn statement of the capital stock, setting forth particularly : 1. The name and the location of the company or association. 2. The amount of capital stock authorized, and the number of shares into which Such capital stock is divided. CHAPTER VI. — GENERAL LEGISLATION CALIFORNIA. 497 3. The amount of capital stock paid up, its market value, and, if no market value, then the actual valuo of the shares of stock. 4. The total amount of all the indebtedness, except indebtedness for current expenses, excluding from such indebtedness the amount paid for the purchase or improvement of the property. 5. True valuation of all tangible property belonging to such company or corpora- tion; such schedule shall be made in conformity to such instructions and forms as may be prescribed by the auditor of public accounts. Sec. 5646, (as amended by section 18 of act 92, acts of 1887). The assessor shall, annually, at least ten days before the thirtieth day of June, deliver to the president, secretary, accounting officer or agent of any such company, corporation or associa- tion located in or doing business in such county a notice in 'writing to return such schedule by the thirty-first day of July next ensuing. Any president, secretary, . principal accounting officer or agent, of any such companies or corporations, upon whom such notice shall have been served, wilfully neglecting or refusing to make such return by the thirty-first day of July next ensuing, after the delivery of said notice, shall be guilty of a misdemeanor, and, upon conviction, shall be fined in any sum not exceeding one hundred dollars, or imprisoned not exceeding three months, or both, and the assessor shall, from the best information ho can obtain, make out and enter upon the proper assessment roll a list, with the valuation, of all tangible- and intangiblo property belonging to such defaulting company or corporation subject to taxation by the provisions of this act, with fifty per cent penalty. CALIFORNIA. DEERING'S CODES AND STATUTES OF 1885. Volume II.— Civil Code. [Note. — Sections 639 to 647 inclusive, following, have been repealed by chapter 174 of tho acts of 1891 except so far as the said sections relate to and govern build- ing and loan associations existing prior to the passage of said chapter.] Section 639. Corporations organized for the erection of buildings and making other improvements on real property may raise funds in shares not exceeding two hundred dollars oach, payable in periodical instalments. Such bodies are known as land and building corporations, and may be organized with or without a capital stock. Sec. 640. &.ny such corporation may borrow money for the purpose of carrying out its objects, and may give as security therefor its shares or mortgage upon its real estate. Sec. 641. Any such corporation may purchase real estato and erect buildings for its members, and make loans to its members for tho purpose of aiding them in acquir- ing and improving real estate. Such loan must in all cases be secured on such real estate. Sec. 642. Such corporation may insure, in some life insuranco company incorpo- rated under tho laws of this state, the lives of its members and debtors. In case of the death of a debtor or member so insurod, the amount recovered on the policy must be applied to extinguish the indebtedness, including the premium paid, and the resi- due if any, must bo paid to the legal representatives of the decedent. Sec. 643. Any such corporation may purchase, hold, and convey real estate as fol- lows : 1. The lot and building in which the business of the corporation is carried on, the cost of which must not exceed twenty thousand dollars; 2. Such as may from time to time bo necessary to supply the wants of its members, the cost of which, held unallotted to tho members thereof at any one time, must not exceed the sum of one hundred thousand dollars; H. Ex. 209 32 498 REPORT OF THE COMMISSIONER OF LABOR. 3. Such as shall have teen mortgaged, pledged, or conveyed to it in trust, to secure money loaned or to secure the purchase price thereof in pursuance of the regular business of the corporation. Sec. G44. The bylaws of such corporations must specify the amount of the periodical subscriptions or payments to be made by each memher, the time and manner in which such payments are to be made; the fines and forfeitures for default; the time and manner of election of directors and other officers, and their terms of office; the manner in which the real estate may bo distributed, allotted, or sold to its members; the terms and conditions upon which loans may be made to its members aud by them repaid to the corporation; the manner in which a person may become and ccaso to be a member; the conditions on which members may withdraw from the corporation, and the provisions for the payment to withdrawing mombers of the sums of money due to thorn arising from subscriptions or payments, and the propor- tion of the profits such withdrawing members may Teceivo on withdrawal. Skc. 645. The secretary of any such corporation must, once in each year during the existence of the corporation, prepare a full and explicit statement of the finan- cial affairs thereof, comprising a balance sheet, statements of receipts and expendi- tures, profit and loss, and assets and liabilities, which must be audited and verified by two competent persons (not directors), elected by the general body of share- holders, and be countersigned by the president and secretary. A copy of snch statement must bo printed and circulated among the members, and appear imme- diately after the annual meeting of tho corporation daily at least one week, or weekly at least four weeks, in one or more newspapers published at tho place of the priucipal business of the corporation. Skc. 647. Any two or more such corporations may unite and become incorporated in one body, with or without any dissolution or division of the funds of such cor- poration, or either of them; or any such corporation may transfer its engagements, funds, and property to any other such corporation, upon such terms as may be agreed upon by two-thirds of the members of each of such bodies present at general meet- ings of the members, convened for tho purpose by notice, stating the object of the meeting, sent through the post office to every member, and by general notice, appearing daily at least one week, or weekly at least two weeks, in some newspaper published at the place of tho principal business of the corporation; but no such transfer can prejudice any right of any creditor of either corporation. Skc. 633, (added by chapter 174, acts of 1891). Corporations may bo formed sub- ject to theprovisions of this title, and with all the rights, duties, and powers herein specified. Such corporations shall be known as mutual building and loan associa- tions, and the words " mutual building aud loan association " shall form part of the name of every such corporation. The articles of incorporation, in setting forth tho purposes for which the corporation is formed, shall state that it is formed to encour- age industry, frugality, homo building, and savings among the stockholders; Hue accumulation of savings; the loaning to its stockholders of the funds so accumu- lated, with the profits and earnings; and tho repayment to each stockholder of his savings and proiits, when they have accumulated to a certain sum, or at any time when ho shall desire tho same, as provided in tho bylaws, or when the corporation shall desire to repay the same; and shall also state that it is formed for all tho pur- poses specified in this title. Sec. 634, (added by chapter 174, acts of 1891). Tho capital stock of such cor- porations shall bo paid in by the stockholders in regular, equal, periodical pay- ments, at such times and in such amounts as shall bo provided in the bylaws. Such periodical payments shall be called dues. And at or before a timo to be stated in the bylaws, each stockholder shall pay to tho corporation, upon each share of stock held by him, such an amount of dues as the bylaws shall provide; and the payment of dues shall so continue on each share of stock issued till it reaches its matured value or is withdrawn, cancelled, or forfeited. Tho capital stock shall consist of such CHAPTER VI. GENERAL LEGISLATION CALIFORNIA. 499 accumulated dues, together with tlio earnings and profits of tho corporation, and shall in no case exceed two million dollars, except as to corporations now existing. It shall be divided into shares of matured or par value of on e hundred dollars, or two hundred dollars each, as shall be provided in tho articles of incorporation and fixed by the bylaws. Certificates of stock shall bo issued to each stockholder on tho first pay- ment of dues by him. The shares shall bo issued in yearly, half-yearly, or quarterly series, except in corporations now existing, in such amounts in each series, and at such times, as shall be determined by the board of directors. No share of a prior scries shall be issued after the issuing of shares in a new series. Shares which have not been pledged as a security for tho repayments of a loan shall be called freesharcs. Shares that have been so pledged shall bo called pledged shares. All stock matured and surrendered or cancelled in any series shall become the property of tho corporation, and may be issued in any subsequent series. Payment of dues on shares of stock in each series shall commenco from the time that shares began to be issued in such series. Any such corporation shall have power by its bylaws to impose and collect a fine from each stockholder not exceeding ten per cent of the defaulted amount, for every neglect or refusal to make his payments of dues, or premium, or interest, when due, and to impose and collect a like fine successively on e vory regular payday during such default. Every such corporation hereafter formed shall also have power to chargo an entrance fee upon each share of stock issued, not exceeding ten cents on each share, and may also chargo a transfer fee not exceeding ton cents on each share, all of which shall be paid into the treasury and accounted for as all other funds of the association; Provided, that building and loan associa- tions heretofore incorporated may continue to chargo and dispose of such entrance and transfer fees as are prescribed by the bylaws of such corporation. Payment of dues or interest may be made in advance, but no association shall allow interest on such advance payments at a greater rate than six per cent per annum, nor for a longer period than one year. Sec. 635, (added by chapter 174, acts of 1891). The directors may, at their discre- tion, under the regulations prescribed in their bylaws, retire the free shares of any series of stock, at any time after four years from the date of their issue, by enforcing the withdrawal of tho same ; but whenever there shall remain in any series, at the expiration of five years after the date of its issue, an excess above one hundred free shares of tho par value of two hundred dollars each, or two hundred free shares of tho par value of one hundred dollars each, then it shall be the duty of the directors to retire annually twenty-five per centum of such excess existing at said expiration of five years after tho date of its issue, so that no more than one hundred free shares shall remain in such series at the expiration of nine years from the date of its issue; Provided, that no more than one-half of the monthly receipts be used for that pur- pose; and thereafter tho directors may, in their discretion, retire such other free shares as they consider to the best interest of the association to retire ; Provided, that whenever, under the provisions of this section, the withdrawal of shares is to bo enforced, the shares to be retired shall be determined by lot, drawn from r.ll free shares in the series, as shall bo regulated by the bylaws, and the holders thereof shall be paid the amount actually paid in, and the full amount of earnings at the date of last apportionment of profits. Sec. 636, (added by chapter 174, acts of 1891). When the stock in any series shall have reached its matured value, payment of dues thereon shall cease, and all of tho stockholders in such series who have borrowed from the association shall be entitled to have their securities returned to them, and a satisfaction of the mortgages made by them to the association ; and the holders of freo shares of stock in such series shall be paid out of the funds of the association the matured value thereof, with such rato of interest as shall be determined by the bylaws, from the time tho board of directors shall declare such sharo to have matured until paid ; but at no time shall moro than one-third of the receipts of the association bo applicable to tho payment 500 REPORT OF THE COMMISSIONER OF LABOR. of matured shares, -without the consent of the board of directors. The order of the" payment of the matured shares shall lbe determined by the bylaws. Sec. 637, (added by chapter 174, acts of 1891). The moneys in the hands of the treasurer, and such sums as-, may be borrowed by the corporation for the purpose, shall bo loaned out in open meeting to the member who shall bid the highest pre- mium, or may be loaned at such premium as may bo fixed, from time to time, by the board of directors ; and the premium may be deducted from the amount of the loan, or such proportion may bo deducted as the bylaws shall provide, and in that case the balance of said premium shall bo payablo in such instalments as the bylaws shall determine; Provided, however, that where the premium is payable in instalments, the number of instalments into which the same is divided shall be uniformly applicable to all loans made by the corporation, and shall be payablo at the times and in the manner as provided in the bylaws; And provided further, that in no case shall the amoimt loaned exceed the matured value of the shares pledged to secure the loan. Sec. 638, (added by chapter 174, acts of 1891). The rata of interest on all loans may bo fixed by the bylaws, but in case tho bylaws fail to fix the rate, then it shall be fixed from time to time by the board of directors. For every loan made, a note or obligation secured by »■ first mortgage upon unencumbered real estate shall be given, accompanied by a transfer and pledge to tho association of the shares bor- rowed upon, as collateral security for the repayment of the loan; or, in lieu of the mortgage, there may be pledged and transferred to the association for the payment of tho loan free shares, the withdrawal value of which, under the bylaws, at the time of such borrowing, shall exceed the amount borrowed and interest thereon for six months. At tho discretion of the board of directors, a borrower may repay a loan, and all arrears of interest and fines thereon, at any time, upon the surrender of tho shares pledged for the loan. Sec. 639, (added by chapter 174, acts of 1891). Whenever any member shall be six months in arrears in the payment of his dues upon free shares, the secretary shall give him notice thereof, in writing, and a statement of his arrearages, by mailing tho samo to him at the last post office address given by him to the association, and if ho shall not pay the samo within two months thereafter, the board of directors may, at their option, declare his shares forfeited; and at tho time of such forfeiture tho withdrawal value thereof shall be determined and stated, and the defaulting member shall be entitled to withdraw the same without interest, upon such notice as shall be required of a withdrawing shareholder. Whenever a borrowing member shall bo six months in arrears in the payment of his dues, or interest, or premium, tho whole loan shall become due, at the option of the board of directors; and they may proceed to enforce collection upon the securities held by the association. The withdrawal value, at the time of the commencement of the action, of all shares pledged as collateral security for the loan, shall be applied to the payment of the loan, and said shares, from that time, shall be deemed surrendered to tho association. Sec. 640, (added by chapter 174, acts of 1891). Any such association may pur- chase at any sale, public or private, any real estate upon which it may have a mort- gage, judgment, lien, or other incumbrance, or in which it may havo an interest; and may sell, convey, lease, or mortgage the same at pleasure to any person or per- sons. Sec. 641, (added by chapter 174, acts of 1891). Any association organized in pur- suance of tho provisions of this act may borrow money for the purpose of making loans or paying withdrawals. Sec. 642, (added by chapter 174, acts of 1891). Profits and losses shall be appor- tioned at least annually, and shall be apportioned to all the shares in each series outstanding at tho time of such apportionment, according to the actual value of such shares as distinguished from their withdrawal value. Sec. 643, (added by chapter 174, acts of 1891). Any person of full age and sound mind may become a member of the association, by taking one or more shares therein, CHAPTER VI. GENERAL LEGISLATION — CALIFORNIA. 501 and subscribing to the bylaws, and annexing to his signature Lis post office address. A minor may hold shares in the name of the parent, guardian, or next friend as trustee. The shares of stock in any such corporation held by any person, to the value of one thousand dollars, shall bo exempt from execution. Sec. 644, (added by chapter 174, acts of 1891). Every association organized under the provisions of this act, and every other association doing a like business, shall anuually make a full report, in writing, of the affairs and condition of such cor- poration, within thirty days after its annual meeting, to the bank commissioners of this state. Such report shall bo verified by the oath of the officers making the same, and a copy of the same shall be delivered to every stockholder, from the office of the corporation, who may call for such report. Every association shall make any far- ther reports which the said commissioners may require, and in such form and as to such matters relating to the condition and conducting of the business of the asso- ciation as such commissioners may designate ; and said bank commissioners may at any timo examine into the affairs of any and every of said associations. Any wilful false swearing in makiug and verifying said reports shall be deemed perjury. Any such association which shall fail to furnish tho bank commissioners any such report required, within thirty days after demand, shall forfeit tho sum of ton dollars per day for every day such report shall be delayed or withheld ; which may be recov- ered in an action brought by the attorney general in the namo of tho people of this state ; and all moneys so recovered shall be paid to the treasurer of the state, who shall pay'the samo into tho "bank commissioners' fund". Tho state bank commis- sioners shall annually publish a full report of the condition of all associations formed under the provisions of this title, and every other association doing a like business in this state, in the same manner as they aro now required to do in refer- ence to savings banks. Sec. 645, (added by chapter 174, acts of 1891). No mutual building and loan association, or company, association, or corporation, organized under the laws of any other state or territory, to carry on a business of a like character to that authorized by this title, shall be allowed to do business, or to sell their stock in this state, with- out first having deposited with the state controller, or secretary of state, the sum of fifty thousand dollars in money, or United States or municipal bonds of this state, or in mortgages upon real estate located within this state, as a guarantee fund for the protection and indemnity of residents of the state of California, with whom such companies, associations, or corporations shall do business; the fund so deposited to be paid by the custodian thereof to the residents of California only, and not then until proof of claim by final judgment has been filed with the custodian of said fund against such foreign company, association, or corporation. Any of tho securities so deposited may bo withdrawn at any time upon others, herein provided for, of like amount, being substituted in lieu thereof. Any person or persons who shall be found in this state as agent, or in any other capacity, representing such foreign company, association, or corporation, which has not complied with tho provisions of this sec- tion, shall be deemed guilty of a misdemeanor, and upon conviction shall be pun- ished by a fine not exceeding one thousand dollars, or by imprisonment in the county jail not exceeding twelve months, or by both such fine and imprisonment. Sec. 646, (added by chapter 174, acts of 1891). Any building and loan associa- tion, now existing and heretofore incorporated, desiring to continue its existence under the provisions of this title, may do so if the holders of a majority of the stock, at their regular annual meeting, or at a special meeting of the stockholders called for that purpose, shall so elect. The notice of the meeting, whether regular or special, shall state as one of the objects of the meeting, to vote on the question whether the corporation shall continue its existence under the provisions of this title; and the notice of meeting shall bo published as required by section three hun- dred and one; and, in addition thereto, a similar notice shall be mailed to oach stockholder at his post office address. Within thirty days after the holders of a 502 REPORT OP THE COMMISSIONER OP LABOR. majority of the stock at any such meeting have voted to continue the existence of the corporation under the provisions of this title, the secretary of the corporation shall, under oath, mate and subscribe, as such secretary, a certificate, ia writing, stating the calling of such meeting, the fact that the holders of a majority of the stock voted to continue the existence of the corporation under this title, which shall bo filed in the office of the county clerk iu which its original articles of incorpora- tion havo been filed, and shall file in the offico of the secretary of state a certified copy thereof, according to tho provisions of section two hundred and ninety-six; and the secrotary of state shall issue his usual certificate, as provided in said section. Thereupon, such corporation shall be subject to all tho provisions of this title, as though originally incorporated under the provisions hereof, except that no change in its name or amount of capital stock shall be made; but the name shall be the same as contained in the original articles. .Sec. 647, (added by chapter 174, acts of 1891). All corporations doing the busi- ness of building and loan associations in this state shall be subject to, the provisions of this title relating to the bank commissioners. Sec. 648, (added by chapter 174, acts of 1891). The name " building and loan association," as used in this act, shall include all corporations, societies,*or organi- zations, or associations doing a savings and loan or investment business on tho build- ing society plan, viz. : loaning its funds to its members or its shareholders, and whether issuing certificates of stock which mature at a time fixed in advance or not. Sec. 648i, (added by chapter 174, acts of 1891). Tho provisions of an act entitled "An act imposing a tax on the issue of certificates of stock corporations," approved April first, eighteen hundred and seventy-eight, shall not be deemed and held to be applicable to any certificates issued to and transferred by the members or stock- holders of any association organized under or governed by this act. STATUTES OF 1893. Chapter 188. Section 1. All building and loan associations heretofore or hereafter incorporated under the laws of this state, or any other state or territory, or those of any foreign country, and doing business in this state, shall be subject to the examination and supervision of a board of commissioners of loan associations, which board shall con- sist of two commissioners, each of whom shall be an export of accounts, and shall be appointed by the governor, within thirty days after the passage of this act, to hold office for the period of four years, and until their successors are appointed and qual- ified. Sec. 2. The commissioners shall each receive a salary of two thousand four hun- dred dollars per annum and necessary travelling expenses, not to exceed for the two commissioners the sum of five hundred dollars per annum, to bo audited by the state controller, and to be paid in the same manner as the salaries of other state officers. Sec. 3. The commissioners shall have their offico in San Francisco, which office shall bo kept open for business every day and during such hours as are commonly observed by tho banks of that city as banking hours. They shall procure rooms for their office at a monthly rental not to exceed forty dollars. They many also provide fuel, printing, stationery, and other necessary conveniences connected with their offico, not to exceed an aggregate cost of three hundred dollars per annum. All expenses authorized in this sectiou shall be audited and paid in the same manner as tho salary of the commissioners. Sec. 4. The commissioners, before entering upon the duties of their office, must each execute an official bond in the sum of five thousand dollars, and take the oath of office, all as prescribed by tho Political Code for state officers in general. Sec. 5. The duties of the commissioners of loan associations shall be to furnish to all corporations legally authorized to transact the business of a building and loan CHAPTER VI. GENERAL LEGISLATION CALIFORNIA. 503 association -within tliia state a license authorizing them to transact the business of a building and loan association for one year from the date of said license; to receive and place on file in their office tho semi-annual reports required to be made by building and loan associations by this act; to supply each association with blank forms and such statements as the commissioners may require; to bo made on or before the first day of October of each year, a tabulated report to the governor of this state, showing the condition of all institutions examined by them, with such recommendations as they may deem proper, accompanied by a detailed statement, verified by oath, of all moneys received and expended by them since their last report. Sr.C. 6. The commissioners shall visit, once in every year, and as much oftener as they may deem expedient, every building and loan association doing business in this state. At such visits they shall have free access to the vaults, books, and papers, and shall thoroughly inspect and examine all the affairs of each of said corpora- tions, and make such inquiries as may be necessary to ascertain its condition and ability to fulfil all its engagements, and whether it has complied with the provi- sions of law governing such associations ; they shall preserve in a permanent form a full record of their proceedings, including a statement of the condition of each of said corporations, which shall bo open to tho inspection of tho public during their office hours. Sec. 7. To facilitate the examinations of the commissioners, as specified in the foregoing section, every association shall keep a book of records, written in ink, showing the values of tho real estate security held in connection with each loan, and signed in each ease by the appraiser, or officer, or committee of the association making such estimate value. Sec. 8. Either of the commissioners may summon all trustees, officers, or agents of airy such corporation, and snch other witnesses as he thinks proper, in relation to the affairs, transactions, and condition of the corporation, and for that purpose may administer oaths; and whoever refuses, without justifiable cause, to appear and testify, when thereto required, or obstructs a commissioner in the discharge of his duty, shall bo punished by a fine not exceeding one thousand dollars, or imprison- ment not exceeding one year, or by both such fine and imprisonment. Sec. 9. If the commissioners, upon examination of any corporation under their supervision, they find that such corporation has been violating the provisions of law governing such associations, or is conducting its business in an unsafe manner, such as to render its further proceeding hazardous to tho public, or to those having funds in its custody, they shall notify the attorney genoral of such facts, and the attorney general, in his discretion, may apply to the judge of tho superior court of the county in which such corporation is doing business, to issue an injunction restraining such corporation, in whole or in part, from further proceeding with its business until a hearing can be had. Such judge may, in such application, issue such injunction, and, after a full hearing, may dissolve or modify it, or make it per- petual, and may make such orders and decrees, according to the course of proceed- ings in equity, to restrain or prohibit the further prosecution of the business of the corporation, as may be needful in the premises; aud may appoint one or more receiv- ers to take possession of its property and effects, subject to snch directions as may from time to time be prescribed by the court. Sec. 10. And if either of the commissioners, having knowledge of the insolvent condition, or any violation of law, or unsafe practice of any association under their supervision, such as renders, in their opinion, the conduct of its business hazardous to its shareholders or depositors, and shall fail to report the same in writing to tho attorney general, as required by this act, then such commissioner, on conviction thereof, shall be punished by a fine of not less than five thousand dollars nor more than ten thousand dollars, or by imprisonment in tho county jail not less than one year nor more than two years, or by both such fine and imprisonment; and his office shall bo declared vacant by tho governor, and a successor appointed to fill his unexpired term. 504 REPORT OF THE COMMISSIONER OP LABOR. Sec. 11. When receivers are so appointed, the secretary of the corporation shall make a schedule of all its property, and its secretary, board of investment, and other officers transferring its property to the receivers, shall mate oath that said schedule sets forth all the property which the corporation owns, or is entitled to. Tho sec- retary shall deliver said schedulo to the receivers, and a copy thereof to the com- missioners, who may at any time examine, under oath, such secretary, hoard of investment, cr other officers, in order to determine whether or not all the property which the corporation owns, or is entitled to, has been transferred to the receivers. Sec. 13. The commissioners, or one of them, shall at least onco in each year, and as much oftener as they may deem expedient, examine the accounts and doings of all such receivers, and shall carefully examine and report upon all accounts and reports of receivers made to the proper court and referred to the commissioners by the court, and, for tho purposes of this section, shall have free access to the books and papers relating to tho transactions of such receivers, and may examine them under oath relative to such transactions. Sec. 13. Upon the certificate, under oath, of any five or more officers, trustees, creditors, shareholders, or depositors of any such corporation, setting forth their interest and tho reasons for making such examination, directed to tho commission- ers, and requesting them to examine such corporation, they shall forthwith make a full investigation of its affairs, in the manner provided. Sec. 14. The commissioners, if in their opinion any such corporation, or its offi- cers or trustees, have violated any law in relation to such corporations, shall forth- with report the same, with such remarks as they deem expedient, to the attorney general, who shall forthwith institnto a prosecution for such violation, in behalf of tho x>ooplo of tho state. Sec. 15. To meet the expenses provided by this act, every building and loan asso- ciation, or corporation or association doing business on the building and loan plan, shall pay, in advance, to tho commissioners, its pro rata amount of such expenses, to be determined by an assessment levied upon the shares of each of suclrassociations in force on the thirty-first day of December, eighteen hundred and ninety-two, pro rata, according to the par valuo of such shares ; and annually thereafter the said commissioners shall levy, in a like manner, and collect in advance, a like assessment on the shares of all such associations in force as per report, herein provided for, to be rnado to said commissioners of the condition at the close of business on August thirty-first preceding. Sec. 16. Tho collection of all moneys assessed, as herein provided, for tho annual expenses, or forfeitable as fines for failure to make reports as herein specified, and duo from any corporation or association coming within tho provisions of this act, may bo enforced by action instituted in any court of competent jurisdiction, and all moneys collected or received by tho said commissioners under this act shall be deposited with tho stato treasurer, to the credit of a fund to bo known and desig- nated as tho "building and loan association inspection fund." Sec. 17. No association, after tho expiration of tho term for which a license has been granted to it by tho commissioners of loan associations, shall continuo to transact tho business of a building and loan association without first procuring from said commissioners a renewal of such license, on tho terms provided for by this act; and any corporation violating this provision shall forfeit tho sum of ten dollars per day during tho continuance of the offence; and any violation of this section by any officer of such association shall bo a misdemeanor. Sec. 18. Every building and loan association doing business in this stato shall, once in every year, to wit: within twenty days after the expiration of its annual fiscal term, make a report, in writing, to tho commissioners of loan associations, ver- ified by the oath of its president and secretary, showing accurately tho financial condition cf such association at tho closo of said term. Tho report shall bo in such form as tho commissioners shall prescribe, upon blanks by them furnished for that CHAPTER VI. — GENERAL LEGISLATION COLORADO. 505 purpose, and shall specify the following particulars, namely : Name of the corpora- tion, place where located, authorized capital stock, amount of stock paid in, the names of tho directors, the amount of capital stock held by each, the amount duo to shareholders, tho amount and character of all other liabilities, cash on hand, and tho number and value of shares in each and every series of stock issued by the asso- ciation. All money received or disbursed by such associations shall bo duly accounted for to the shareholders and to tho commissioners of building and loan asso- ciations. Sec. 19. Stockholders desiring to withdraw from any association, or to surrender a part or all of their stock, shall have power to do so by giving thirty days' notice, in writing, of such intention to withdraw. On tho expiration of such notice, the stockholder so withdrawing shall bo entitled to receive the full amo mt paid in by him or her, together with such proportion of tho earnings thereon as tho bylaws mr.y provide, or as may have been fixed by the board of directors ; Provided, that not more than one-half of tho monthly receipts in any one month shall bo applied to withdrawals for that month, without the consent of tho board of directors, and no shareholder shall be permitted to withdraw, whoso stock is pledged as security to the association for a loan, until such loan is fully paid. Such withdrawals shall be paid in succession, in tho order that tho notices are given. Sec. 20. The name "building and loan association," and all reference to the same. as "association" or " associations," as used in this act, shall include all corpora- tions, societies, or organizations or associations doing a savings and loan or invest- ment business on the building society plan, viz. . loaning its funds to its members or its shareholders, or investing tho samo for the mutual benefit of its members or shareholders, and whether issuing certificates of stock which mature at a time fixed in advance or not. COLORADO. LAWS OF 1889. (Pages 41-43.) Section 1. All associations organized under the general incorporation laws of this state, for tho purpose of the accumulation and loan of funds, tho erection of buildings, tho acquiring of homes, and the purchase, lease and salo of real estate for tho mutual benefit of its members, shall bo permitted to conduct such business with its members exclusively, and may roceivo money in payment for its shares of stock in such manner and upon such terms as are proscribed by its bylaws; may receivo money on loan or on deposit, and may lend money to its members upon the stock of such corporation, upon real estato or upon such other security as by the bylaws provided, or by tho board of directors determined; and all contracts between such companies and their members shall bo deemed valid and binding in law. Sec. 2. Tho shares of tho capital stock of any such corporation shall not be more than two hundred (200) dollars each, instalments of which stock shall be paid at such time and at such place as tho bylaws shall appoint ; every share of stock shall bo subject to a Hon for tho payment of unpaid instalments and other charges incurred thereon under tho provisions of tho charter and bylaws, and the bylaws may prcscribo tho form and manner of enforcing such lien. New shares of stock may bo issued in lieu of the shares withdrawn or forfeited; the stock may bo issued in one or successive series, in such amounts as the articles of incorporation or the board of directors may determine; and any shareholder wishing to withdraw from tho said corporation shall have power to do so by giving thirty days' notice of his or her intention to withdraw, when ho or sho shall bo entitled to receivo tho amount provided by tho bylaws or determined by the board of directors, less all fines and other charges ; Provided, that at no time shall moro than ono-half of tho funds in 506 REPORT OP THE COMMISSIONER OP LABOR. the treasury of tho corporation bo applicable to the demands of withdrawing share- holders, without the consent of tho board of directors, and that no shareholder shall be entitled to withdraw whoso stock is held in pledge for security. Sec. 3. Upon the death of any shareholder, hi3 or her legal representatives shall bo entitled to receive the full amount paid in by him or her, and legal interest thereon, first deducting all charges that may bo due on tho stock; no fines shall be charged to a deceased member's account from and after his or her deccaso, unless tho legal representatives of such decedent assume the future payments on the stock of such deceased shareholder. Sec. i. Shares of stock upon which a loan has been made may be paid up in full by the borrower in such manner and upon such term3 a3 provided by the bylaws; and when so paid, such share or shares of stock may be cancelled, and such indebt- edness liquidated to tho amount in valuo of such share or shares of stock so paid. Sec 5. Every such corporation before commencing business under its charter, shall filo a copy of its bylaws with tho secretary of state, and a copy also with tho clerk and recorder of tho county in which the principal business of such corporation is carried on, and shall likewiso so file copies of all subsequent changes of such bylaws; and all such corporations now doing business in thisstato shall immediately filo copies of their bylaws with tho secretary of state and also with tho clerk and recorder of tho proper county, and shall also so file all subsequent changes thereof. CONNECTICUT. The laws of this state contain no general legislation relating especially to build- ing and loan associations. DELAWARE. REVISED CODE OP 1893. (Page 573.) Section 6 (of chapter 147, volume 17, Laws of Delaware). Any building or building and loan association created under this act shall, in addition to tho other powers herein granted, have power to sell its accumulated funds to and among its stock- holders at any premium which may bo obtained for the same, and when such funds can not bo loaned to any stockholder at par they may be loaned to any person not a stockholder at any rate of interest not exceeding six per cent. (Page 583.) Section 1 (of chapter 702, volume 19, Laws of Delaware). The certificate of incor- poration of building, or building and loan associations to be created under the act entitled '-'An act concerning private corporations," passed at Dover, March 14, 1S83, [chapter 147, volume 17, Laws of Delaware], shall not bo required to state an amount of tho capital stock to bo paid in before commencing business, and no per- centage of said stock shall bo required to bo paid in before tho association shall bo organized and commence business. Sec. 2 (of chapter 702, volume 19, Laws of Delaware). Whenever any one of the corporators named in tho certificate of incorporation, to bo filed under the act of which this is a supplement, or any corporator named in any act of incorporation heretofore or hereafter passed in this state, or any commissioner appointed in any such act of incorporation to take subscriptions for capital stock, shall have died before the organization of such corporation, then, and in such caso, the powers vested in such corporators or commissioners shall thereafter be vested in the survivor or survivors of such corporator or commissioner. CHAPTER VI. GENERAL LEGISLATION — DIST. OF COLUMBIA. 507 DISTRICT OF COLUMBIA. UNITED STATES STATUTES AT LARGE. Volume XXVII, Chapter 321. Section 1. Any * * * building association or company * * * advertising for or receiving premiums, deposits, or dues for membership, incorporated under the laws of any other state, territory, or foreign government, and transacting business within the District of Columbia, shall publish in at least two daily papers printed in the District of Columbia semi-annually, during the months of March and Sep- tember of oach year, a full statement, under oath, showing their capital stock and the amount paid in on account of the same, assets, liabilities, debts, deposits, divi- dends and dues, as well as their current expenses during six months ending January and July preceding. Sec. 2. Any such company, association, or institution failing to publish statements as required by the first section of this act shall forfeit its right to do business in said district, and thereupon it shall be the duty of said commissioners to revoke its license or permit to do business in said district : * * *. FLORIDA. REVISED STATUTES OF 1892. Section 2205. The capital stock of a building and loan association shall at no timo consist in the aggregate of more than one million dollars, to be divided into shares of such denomination, not exceeding five hundred dollars each, payable in lawful money of the United States, and in such number as the charter may specify. The capital stock may bo issued in series, but no such series shall at any issue exceed in the aggregate five hundred thousand dollars, the instalments on which stock are to be paid at such time and place as the bylaws shall appoint. No periodical payment of such instalments shall be made exceeding two dollars on each share and such stock may be paid off and retired as the bylaws shall direct. Every share of stock shall be subject to a lien for the payment of unpaid instalments and other charges incurred thereon under the provisions of tho charter and bylaws, and the bylaws may prescribe the form and manner of enforcing such liens; new shares of stock may be issued in lieu of shares withdrawn or forfeited. The stock may be issued in one or in successive series in such amount as the board of directors and stockholders may determine, and any stockholder wishing to withdraw from the association shall have power to do so by giving thirty days' notice of his intention to withdraw, when he may be entitled to receive the amount paid iu by him less all fines and other charges, but after the expiration of one year from the issuing of the series such stockholder shall be entitled, in addition thereto, to such interest thereon as the bylaws shall prescribe at the time of the issuing of such stock, not exceeding the legal rate of interest. At no time shall more than one-half of the funds in tho treasury of the corporation be applicable to the demands of withdraw- ing stockholders without tho consent of the board of directors, and no stockholder shall bo entitled to withdraw whose stock is held iu pledge for security. Upon the death of a stockholder his legal representatives shall be entitled to receive the full amount paid in by him, and such rate of interest thereon as the bylaws of tho association shall prescribe at the time of issuing such stock, first dediicting all charges that may be due on the stock. No fine shall be charged to a decoased mem- ber's account from and after his decease unless the legal representatives of such decedent assume the further payment on the stock. Sec. 2206. Building and loan associations incorporated under this chapter shall have the powers, and from the date of incorporation, when not otherwise provided 508 REPORT OP THE COMMISSIONER OF LABOR. herein, shall be governed, managed and controlled as follows : They 6hall have the power and franchise of loaning or advancing to the stockholders thereof the moneys accumulated from timo to time, and the power and right to secure the repayment of such money, and the performance of the other conditions upon which the loans are to be made by note or bond, secured by mortgage or other security, as well as the power and right to purchase or erect houses and to convey, lease or mortgage the same at pleasure to their stockholders or others for the benefit of their stockholders in such manner; also, in case of non-payment of instalments, premiums or interest by any stockholder for three months, payment of principal, interest and fines, with- out deducting the premiums paid or interest thereon, may be enforced by sale of the shares at a meeting of the stockholders, and the net proceeds, after deducting all iines and arrearages with a proportionate part of any losses, shall be paid over to him, and thereafter ho shall cease to be a member of the corporation. Sec. 2207. The officers shall hold stated meetings at which the money in the treas- ury, if over the amount fixed by charter as the full value of a share, shall bo offered for loan in open meeting and the stockholder who shall bid the highest premium for the preference of priority of loan shall be entitled to receive a loan of not more than the amount fixed by charter or constitution as the full value of a share, for each share of stock held by such stockholder, but u, stockholder may borrow such fractional part of the amount fixed by charter as the full value of a share, as the constitu- tion and bylaws may provide. Good and ample security, as prescribed by the bylaws, shall be given by the borrower to secure the repayment of the loan. In case the borrower shall neglect to offer security, or shall offer security that is not approved by the board of directors by such time as tho bylaws may prescribe, he shall be charged with legal interest together with any expenses incurred and the loss of premium, if any, on a sale and the money may be resold at the next stated meeting. In case of non-payment of instalment or interest by borrowing stock- holders for tho space of three months, payment of principal and interest and all fines prescribed by tho constitution and bylaws without deducting the premium paid and interest thereon, may bo enforced by proceeding on their securities according to law. Sec. 2208. Any married woman of fall age may hold stock, and as such stockholder she shall have all tho rights and privileges of other members, including the right to borrow money from the association and bid premiums therefor, and shall also have tho right and power to secure such loans by transferring her said stock or securities to the association from which the same was borrowed, or by executing a note or bond, secured by mortgage upon her separate real estate, but the husband of such married woman must join in 1he execution of such note or bond and mortgage to give it validity. Such married woman shall also have the right to sell, assign and transfer her stock by joining her husband in such transfer or withdrawal. The asso- ciations may collect loans made to such married woman, including the dues, inter- ests, premiums and fines, as loans made by the association to other members as are now by law collected. Such stock and interest in such stock shall not be liable for thd debts of tho husband of such married woman. Sec. 2209. Should any stockholder who has given a mortgage to the association be desirous of selling the mortgaged property and having the same released from the mortgage, ho shall be at liberty to do so, with the consent of the directors, upon first transferring tho shares entitled to hi:n in advance to the intended purchaser (if such transfer shall be necessary), and then obtaining from him a note or bond, secured by mortgage of the same premises and on tho samo terms for the amount due to bo given to the association, and such mortgagor shall then be liable to pay aM the dues and interest respecting the said advance, and the directors shall then grant to the original mortgagor a release from all further liability in respect thereto at his costs or charges, he .having paid all the dues and fines that may be due tho associa- tion. CHAPTER VI. GENERAL LEGISLATION FLORIDA. 509 Sec. 2210. Should any stockholder desire to have his property discharged from the mortgage or a release and surrender of other securities before the aeries to •which his stock holongs or the association shall have terminated, he shall ho allowed to do so upon paying into the hands of the secretary and treasurer such sum of money as will, at the rate of premium at which said money may be sold, produce the same monthly payments of interest as such stockholder had been previously paying on his advance, but such sum shall be in no case less than the net amount actually received by him, and no release shall be given until the money paid shall actually be sold and the security offered for the same shall be approved by the board of directors. All the costs of executing papers connected with the said redemption of the mortgaged premises must bo paid by the said stockholder or purchaser of the money. Sec. 2211. Any stockholder shall bo entitled to an immediate release of his mort- gage or other securities, who shall deposit in the hands of the treasurer the full amount due on his note or bond, and mortgage, and ho shall also be entitled to a return of the premium advanced on the sale and reinvestment of the said money, or his stock may remain unincumbered. Sec. 2212. Any building and loan association may purchase at auy sheriff's or other judicial sale, or at any other sale, public or private, any real estate upon which the association may have or hold any mortgage, judgment, lien or other incumbrance, or in which it may have any interest, and may sell, convey, lease or mortgage at pleasuro tho real estate so purchased, or any other that the association may hold or to which it may be entitled, to any person whatsoever, and all sales of real estate heretofore made by such association, to any persons not members thereof are hereby confirmed and made valid. Sec. 2213. Building and loan associations shall have full power to purchase lands and to sell and convey the same, or part thereof, to their stockholders or others in fee simple. In all cases the land shall be disposed of within ten years from the date of tho incorporation of such associations respectively. Sec. 2214. Nothing in this chapter shall be held to interfere with or to require any change in the rules, constitution, bylaws or management of any building and loan association heretofore organized and now existing in the state in accordance with any law thereof. Sec. 2215. All building and loan associations which have attempted to incorpo- rate prior to the thirty-first day of May, 1887, under the provisions of any law, shall be entitled to all the privileges, immunities, franchises and powers conferred by this chapter, upon filing with the secretary of state a certificate of their accept- ance of the same in writing under the duly authenticated seal of said association, signed by its present officers, which certificate shall be accompanied by a copy of the constitution and bylaws of such association, and upon such acceptance and approval thereof by the governor he shall issue letters patent to said corporation reciting the same. ACTS OF 1893. Chapter 4158. Section 1. No building and loan association organized under the laws of any other state territory or foreign governmentashall do business in this state unless said asso- ciation shall deposit, and continually thereafter keep deposited, in trust for all its members and creditors, with some responsible trust company, or with the state treasurer of this state, or some state officer of some other state of the United States, mortgages (or other securities) received by it in the usual course of its business, amounting to not less than twenty-five thousand dollars ($25,000). All dividends and interest which may accrue on securities held in trust as aforesaid by tho trust 510 REPORT OF THE COMMISSIONER OF LABOR. company or the state officer, as provided in this section, and all dues or monthly pay- ments which may become payable on stock pledged as security for loans, the mort- gages for which arc on deposit in accordance with the provisions of this act, may be collected and retained by the association depositing such securities or mortgages. Any securities on deposit, as provided herein, may from time to time bo withdrawn, if others of equal value are substituted therefor. Sec. 2. Every building and loan association organized under the laws of any other state, territory or foreign government, shall, before commencing to do business in this state, pay the treasurer of this state twenty-five dollars ($25) as fees for filing the papers mentioned in this section, and file with the treasurer of this state : 1. A duly authenticated copy of its charter or articles of incorporation. 2. The certificate of the proper officer of some state, or the president and treasurer or secretary of some responsible trust company, certifying that it has on deposit securities not less than twenty-five thousand dollars ($25,000), taken in the regular course of business, as mentioned in this act, in trust for all the members and cred- itors of such building and loan association. 3. A duly authenticated copy of a resolution adopted by the board of directors of such association, stipulating and agreeing that, if any legal process affecting such association be served on the treasurer of this state and a copy thereof be mailed, postage prepaid, by the party procuring the issuing of the same, or his attorney, to said association, addressed to its home office, then such service on said state treasurer and mailing of such process shall have the same effect as personal service on said association. Sec. 3. "When process against or affecting any foreign building and loan associa- tion is served on the state treasurer, the same shall be by duplicate copies, one of which shall be filed in tho office of the said state treasurer, and the other by him immediately mailed, postage prepaid, to the home office of said association. The word '-'process" in this act shall includo any writ, summons, petition or order whereby an action, suit or proceeding shall be commenced, or which shall be issued in or upon any action, suit or proceeding at law or in equity authorized by law in this state. Sec. 4. The name "building" and loan association," as used in this act, shall iuolude all corporations, societies, organizations or associations doing a saving and loan investment business on the building society plan, viz., loaning its funds to its mem- bers only, whether issuing certificates of stock which matures at afixedtime or not. Sec. 5. No officer, director or agent of any building and loan association incor- porated under the laws of any state other than this, or of any territory or foreign nation, shall solicit subscriptions to the stock of such association, or sell, issue or knowingly cause to be sold or issued, to any person in this state, any stock of such association, unless said association has fully complied with all the provisions of this act. Any violation hereof shall be deemed a misdemeanor, and, upon conviction, tho offender shall be punished by a fine of not less than one hundred dollars, not more than five hundred dollars, or by imprisonment not less than ten days, nor more than six months, or by bcth such fine and imprisonment, in the discretion of tho court. Sec. 6. Within four months from the close of its fiscal year, every building and loan association doing business in this state governed by this act, shall, each year, deposit with the treasurer of this state a report of its affairs and operations for the fiscal year immediately preceding; such report shall be verified under oath by the president and secretary, or by three directors of the association, and shall contain nnswers to the following questions: 1. The date when association was incorporated, and the par value of each share of stock. 2. The number of shares sold during the year. 3. The number of shares cancelled and withdrawn during the year. CHAPTER VI. — GENERAL LEGISLATION — GEORGIA. 511 4. Tho number of shares in force at tho end of the year. 5. A statement of the receipts and disbursements of the loan fund during the year. 6. A statoment of the assets and liabilities at tho end of the year. Each association shall pay to the treasurer of this state twenty-five dollars ($25) on filing such report. If any such association shall wilfully fail to furnish to tho treasurer of this state any report required by this act at the time so required, it shall, in the discretion of the state treasurer, forfeit the sum of twenty-five dollars ($25) per day for every day such report shall ho delayed or withheld, and the treasurer of the state may main- tain an action to recover such penalty, and the same shall be paid into the treasury of tho state for the benefit of the state. Sec. 7. Every association depositing securities with the treasurer of this state, as provided for in this act, shall annually pay to said treasurer of state a fee of twenty- live dollars ($25). Sec. 8. No fines, interest or premiums paid on loans made by any building and loan association shall bo deemed usurious, and the same may be collected, as debts of like amount aro now collected by law in this state, and according to the terms and stipulations of the agreement between the association and the borrower. GEORGIA. CODE OP 1882. Section 3968 (a). No judgment of foreclosure shall be given in favor of ariy build- ing and loan association, upon any mortgage executed to them, unless they shall have served upon the mortgagor, at least thirty days before the court at which such judgment shall be taken, a complete statement of tho amount for which they claim judgment, fully setting out the amount claimed for principal, interest and fines, Or penalties ; and also setting out the eredit allowed for stock transferred to them as collateral, and any other credit to which the mortgagor may be entitled. ACTS OF 1888. (Act No. 107, Page 47.) Section 1. All building and loan associations, and other like associations, now organized and doing business in this state, and that may hereafter organize and do business in this state be, and they are hereby authorized and empowered to lend money to persons not members thereof, nor shareholders therein, at eight per cent or less, and to aggregate the principal and interest at the date of the loan for tho entire period of the loan, and to divido the sum of the principal and the interest for the entire period of tho loan into monthly or other instalments and to take security by mortgage with waiver of exemption or title, or both, upon and to real estate situated in the cities or towns and their suburbs iu which said building and loan association may be located. Sec. 2. All contracts made and securities taken in accordance with thitj act, shall be valid for the full amount of principal and interest charged and shall not beheld usurious. Sec. 3. Nothing in this act shall be held to apply to any building and loan asso- ciation heretofore incorporated, unless said association shall, by a vote of a majority of its stockholders, adopt the provisions of this act as an amendment to its charter. Sec. 4, (added by act 732, acts of 1889, page 180). All the provisions of this act are hereby made to apply to all saving institutions which pay interest to depositors, and whose deposits are not subject to check. 512 REPORT OF THE COMMISSIONER OF LABOR. ACTS OF 1890-'91. Volume I. (Act No. 722, Pages 176-181.) Section 1. Every building and loan association heretofore or hereafter incorpo- rated under the laws of this state, which does business outside of this state, shall deposit and keep on deposit with the treasurer of this state, or with a legally incor- porated and duly organized trust company, to he selected by the board of directors of such association, in trust for all its members and creditors, seventy-five per cent of the amount of all mortgages (or other securities) received by it in the usual course of its business. When such mortgages (or other securities) are deposited with the said trust company or state depository, such company or state depository shall certify to the treasurer of this state that the said securities have been and are deposited with it under this act, and the same shall not be surrendered to or returned to the said building and loan association without the authority or sanction of the said treasurer of this state; Provided, that every such corporation heretofore or hereafter organized, whoso mortgages or other securities so deposited do not amount to twenty-fivo thousand dollars ($25,000), shall have fifteen months after organiza- tion, as to those not yet organized, and as to those already organized, fifteen months within three months from the passage of this act, deposit with said state treasurer or trust company such additional securities as with the securities so deposited shall equal in value the sum of twenty-five thousand dollars ($25,000) ; and every such corporation hereafter organized, within fifteen months after commencing to do busi- ness, shall deposit with the said state treasurer or trust company, in trust as afore- said, securities of the value of twenty-five thousand dollars ($25,000). The securities mentioned in this proviso shall consist of bonds or treasury notes of the United States, national or state bank notes, or bonds of this state or any other state of the United States, or of any solvent city, town or county of this state having legal authority to issuo the same, or first mortgages on real estate, or other legal securities aggregating in value twenty-five thousand dollars ($25,000), and such securities may be withdrawn, from time to time, when mortgage securities of corresponding value shall be deposited in lieu and placo thereof, as provided in this act, or when other securities of equal character and value aro substituted therefor; and it shall be the duty of the treasurer of this state to examine the affairs of said associations, from time to time, to ascertain whether said associations have deposited seventy-five per cent of all their securities and otherwise complied with the requirements of this act; Provided, that any association which has deposited all of its securities on hand at the time this act takes effect shall be required to make quarterly deposits only of securities taken by it intho future, that is, at the end of periods of three months thereafter. Whenever any association incorporated under the laws of this state is required by the laws of any other state, territory or nation to make a deposit of securities in such state, territory or nation, as a condition of doing business therein, such association may deposit a portion of its securities with the properly authorized officer of such other state, territory or nation ; Provided, however, that the amount of securities kept on deposit in this state shall at all times equal seventy-five per cent of the amount of the loans mado and then outstanding in this state; And provided further, that the securities so deposited in this state shall not thereby he reduced below the sum of twenty-five thousand dollars ($25,000). Sec. 2. All interest and dividends and premiums which may accrue ou securities held by said state treasurer or by such trust company, as> provided herein, and all dues or monthly payments which may become payable on stock pledged as security for loans, the mortgages for which are so deposited in accordance with the provisions of this act, raay be collected and retained by the association depositing such securi- CHAPTER VI. GENERAL LEGISLATION GEORGIA. 513 ties or mortgages. Any mortgage (or other security) which shall have been fully paid to said association, or which, the borrower desires to pay off and discharge, and any mortgage (or other security) upon which default in the payment due has been made and of which said association shall desire possession for the purpose of collec- tion or foreclosure, and all securities needed by it for deposit in any other states territory or nation according to the provisions of section 1 of this act, shall bo sur- rendered by said state treasurer, or on his order, to the association depositing same, upon filing with him the affidavit of the president and secretary thereof, stating - the reason or reasons for desiring to withdraw such security or securities, and such" security or securities shall not be used for any purpose other than that stated in the affidavit; Provided, that when said association is dissolved, according to the provisions of its charter, and ceases to do business, all securities deposited by it shall be returned to it upon furnishing said state treasurer with satisfactory evidence of the fact of its dissolution as aforesaid. Bonds or stocks deposited with said state treasurer, or trust company, as aforesaid, shall, if deemed advisable by the associa- tion, be surrendered to the association depositing same, for the purpose of being con- verted into cash and loaned on real estate. Sec. 3. No building aud loan association organized under the laws of any other state, territory or foreign government shall do business in this state unless said association shall deposit, and continually thereafter keep deposited, in trust for all of its members and creditors, with some responsible trust company, or with the state treasurer of this or somo other stato of the United States, seventy-five per cent of all its securities; all of the personal obligations of its members taken in the ordinary course of business of such association and secured on first mortgages on real estate; seventy-five per cent of all dividends and interest which may accrue on securities held in trust, as aforesaid, by the trust company or the state, as provided for herein; and all dues or monthly payments, which may become payable on stock pledged as security for loans, the mortgages for which, all on deposit in accordance with the provisions of this act, may be collected and retained by the association depositing such securities or mortgages. Any securities on dejtosit, as provided herein, of said building and loan association in this state, if the amount of said securities so deposited is less than all of its securities, may, from time to time, be drawn, if others of equal value are substituted therefor. Every building aud loan associa- tion, organized under the laws of any state, territory or foreign government, shall, before commencing to do business in this state, 1. File with the secretary of this state, a duly authenticated copy of its charter or articles of incorporation. 2. File with the secretary of this stato the certificate of the proper state officer of another state or the president or secretary of some responsible trust company certi- fying that it has on deposit seventy-five per cent of all the securities, not less than twenty-five thousand dollars of the kind and amount required by the laws of such other state, taken in the regular course of business, as mentioned in this act, intrust for all the members and creditors of such building and loan association. 3. File with the secretary of this state a duly authenticated copy of a resolution adopted by the board of directors of such association stipulating and agreeing, that if any legal process affecting such association, be served on said secretary of state, and a copy thereof be mailed, postage' prepaid by the party procuring the issuing of the same, or his attorney, to said association, addressed to its home office, then such service and mailing of such process shall have tho same effect as personal service on said association in this state. 4. Pay the secretary of this state fifty dollars ($50) as fees for filing the paper montionod in this section. Sue. 4. "Whou process against or affecting any foreign building and loan associa- tion is served on tho secretary of state, the same shall be by duplicate copies, one of which shall be filed in the office of said secretary of state, and the other by him iinme- H. Ex. 209 33 514 REPORT OF THE COMMISSIONER OF LABOR. diately mailed, postage prepaid to the liomo office of said association. The word "process" in this act shall include any writ, summons, complaint, declaration or order, whereby an action, suit or proceeding shall bo commenced, or -which shall be issued in or upon any action, suit or proceeding at law, or in equity, authorized by law in this state. Thirty days' time shall be allowed to answer in any action, suit or proceeding. . ^ When, by the laws of any other state, territory or nation, any taxes, fines, penal- ties, licenso, fees, deposits of money or securities, or, other obligations, or prohibi- tions aro imposed on building and loan associations of this state, doing business in such other state, territory or nation, ot upon their agents therein, so long as such laws continue of force, the same obligations or prohibitions of whatever kind shall be imposed upon all building and loan associations of such other state, territory or nation, doing business in this state and upon their agents hero. Sec 5. The name "building and loan association" as used in this act shall include all corporations, societies or organizations or associations doing a savings and loan or investment business, on the building society plan, viz., loaning its funds to its members, whether issuing certificates of stock which mature at a time fixed in advance or not. Sec. G. No officer, director, or agent of any foreign building and loan association shall, in this state, solicit subscriptions to the stock of such association, or sell 01 issue, or lino wingly cause to bo sold or issued, to a resident of this state, any stock of an association while said association has not on deposit, as required by section 3 of this act, seventy-five per cent of all its securities, or befoTO said association has com- plied with all the provisions of this act. Any violation tliereof shall be deemed a misdemeanor, and upon conviction shall bo punished by a fine of not less than one hundred dollars, or more, than five hundred dollars, or by imprisonment not less [than] ten days or more than six months, or by both such fine and imprisonment in the discretion of tho court. Sec. 7. No officer, director or agent of any building and loan association incorpo- rated under tho laws of this state shall sell, issuo or knowingly cause to be sold or issued, to any xicrson not a resident of tho state in which the homo office of said com- pany is located, any stock of said association while said association does not have on deposit, as required by section 1 of this act, seventy-five per cent of all of the securities of said association taken in the regular course of business ; any violation hereof shall bo deemed u misdemeanor, and upon conviction tho offender shall bo punished by a fmo of not less than one hundred dollars nor more than five hundred dollars, or by impris- onment not less than ten days or more than six months, or by botL> sncli fine and imprisonment in tho discretion of the court. Sec. 8. No fines, interest or premiums paid on loans in any building and loan asso- ciation shall bo deemed usurious, and tho samo may bo collected as debts of like amount aro now collected bylaw in this state and according to tho terms and stip- ulations of tho agreement between tho association and tho borrower. Sec. 9. Every building and loan association governed by this act shall file with the treasurer of this stato annually, within sixty days after the expiration of its fis- cal year, a statement of its assets and liabilities at tho end of said fiscal year; such report shall bo filed under oath by tho president and secretary, or by three of the directors of tho association. Such association shall pay to 1lio stato treasurer ten dollars ($10) ou filing such report. If any such association shall wilfully fail to fur- nish to tho stato treasurer any report required by this act, at the time so required, it shall, in the discretion of a court of competent jurisdiction, forfeit the sum of twenty-five dollars ($25) per day for every day such report shall be delayed or with- held, and tho stato treasurer may maintain an action in bis name of office to recover such penalty, and the same shall be paid into tho treasury of the state and applied to tho fund. ' Sec. 10. Every association depositing securities with the state treasurer as pro- CHAPTER VI.-r-QENERAL LEGISLATION — IDAHO. 515 Tided for in this act shall annually pay to said treasurer a fee of fifty dollars ($50). "Wherever in this act it is provided for a deposit with the state treasurer or trust company, such deposit may likewise be made with any one of the legally authorized state depositories. Sec. 11. All officers of any building and loan association governed by this act and doing, business in this stato, who handle or havo the custody of any of tho funds of such association, shall givo sufficient bonds for tho faithful performance of their duties as tho board of directors may roquire, and no such officer shall be deemed qualified to enter upon tho duties of his offico until his bond is approved by the board of directors with whom such bonds shall bo filed. The penalty for a failure of any association to file and maintain tho bonds or policy as required by the pro- ■visions of this section, shall bo a fino of one hundred dollars ($100) for each day such association transacts business after such bond has become duo under tho provisions ef this act. Said bond or policy shall ba held in trust for tho benefit and protection of the members of such association, and shall bo enforceable by any member, when- ever cause of action shall accrue thereon. IDAHO. REVISED STATUTES OF 1887. Section 2796. Corporations organized for tho erection of buildings and making other improvements on real property, may raise funds in shares not exceeding two hundred dollars each, payablo in periodical instalments. Such bodies are known as land and building corporations, and maybe organized with or without a capital stock Sec 2797. Any such corporation may borrow money for tho purpose of carrying out its objects, and may give as security therefor its shares or mortgages upon its real estate. Sec. 2798. Any such corporation may purchase real estate and erect buildings for its members, and make loans to its members for the purpose of aiding them in acquiring and improving real estate. Such loan must in all cases be secured on such real estate. Sec. 2799. Sneh corporation may insure, in somelifo insurance company, the lives of its members and debtors. In case of the death of a debtor or member so insured, the amount recovered on tho policy, must be applied to extinguish the indebtedness, including tho premium paid, and the residue, if any, must be paid to the legal repre- sentative of thodecendent [decedent]. Sec. 2800. Any such corporation may purchase, hold, and convey -real estate as follows : 1. The lot and building in which the business of tho corporation is carried on, the cost of which must not exceed twenty thousand dollars; 2. Such as may, from time to- time, be necessary to supply the wants of members, the cost of which held unallotted to tho members thereof at any one time, must not exceed the sum of fifty thousand dollars ; 3. Such as havo bcen~~mortgaged, pledged, or conveyed to, it in trust, to secure money loaned or to secure tho purchase price thereof in pursuance of tho regular business of tho corporation. Sec. 2801. Tho bylaws of such corporations must specify tho amount of tho period- ical subscriptions or payments to bo mado by each member, the time and manner in which such payments are to be made ; tho fines and forfeitures for default ; tho time and manner of election of directors and other officers, and their terms of office; the manner in which the real estate may bo distributed, allotted or sold to its members; the terms and conditions upon which loans may bo mado to its members, and by them repaid to the corporation ; the manner in which a person may become, and coaso to be a member; the conditions on which members may withdraw from tho corporation, and the provisions for tho payment to withdrawingmembors of the sums of money 516 REPORT OF THE COMMISSIONER OF LABOR. due them, arising from subscriptions oi\payments, and the proportion of the profits such withdrawing members may receive on withdrawal. Sec. 2802. Tho secretary of any such corporation must, once in each year during the existence of the corporation, prepare a full and explicit statement of the financial affairs thereof, comprising a balance sheet, statements of receipts and expenditures, profit and loss, and assets and liabilities, which must bo audited and verified by two competent persons (not directors) elected by the general body of shareholders, and be countersigned by the president and secretary. A copy of such statement must be printed and circulated among tho members, and appear immediately after the annual meeting of the corporation, daily at least one week, or weekly at least four weeks, in one or more newspapers published at the place of bnsiness of tho corporation. Sec. 2803. Every present and past member of such corporation is personally liable for such proportion of all its debts and liabilities, incurred during his membership, as the number of shares subscribed by him bears to the whole number of subscribed Shares; but no past member is liable for such contribution if more than one year elapsed since ho ceased to bo a member before suit is commenced, nor for any debt or liability contracted, after the time at which he ceased to be a member, nor unless it appears to the court that that corporation is unahle to satisfy such debts and lia- bilities; nor must any contribution be required from any member or past member exceeding the amount unpaid on the shares in respect to which it is liable. Sec. 2804. Any two or more such corporations may unite and become incorporated in one body, with or without any dissolution or division of tho funds of such cor- poration, or either of them; or any such corporation may transfer its engagements, funds and property to any other such corporation upon such terms as may be agreed upon by two- thirds of tho members of each of such bodies present at general meetings of the members, convened for the purpose, by notice, stating the object of the meeting, sent through the post office to every member, and by general notice appearing daily, at least one week, or weekly, at least two weeks, in some news- paper published at the place of the principal business of the corporation; but no such transfer can prejudice any right of any creditor of cither corporation. Sec. 2805. Married women and minors maybe admitted as members, and may take and hold shares in such corporations, and may execute all necessary instruments, and give all necessary acquittances, and sell and transfer their shares in like man- ner as other members. ILLINOIS. REVISED STATUTES OF 1891. Chapter 32. Section 78. Whenever any number of persons not less than five, may desire to become incorporated as a mutual building, loan and homestead association, for the purpose of building and improving homesteads and loaning money to the members thereof only, they shall mako a statement to that effect, under their hands and seals, duly acknowledged before some officer in the manner provided for the acknowledg- ment of deeds, such statement shall set forth the name of the proposed corporation, its capital stock, its location and tho duration of tho corporation; which statement shall be filed in the office of tho secretary of state. Tho secretary of state shall thereupon issno to such persons a license as commissioners, to open bouksfor sub- scription to tho capital stock of said corporation, at such time and place as they may determine; but no license shall bo issued to two associations having tho same name. Sec. 79. As soon as one hundred shares or more of the capital stock shall bo sub- scribe.!, tho commissioners shall convene a mectinp; of tho subscribers, for tho pur- poso of electing directors, adopting a charter and bylaws and tho transaction of such other business as shall come before them. Notice thereof shall be given by CHAPTER VI. — GENERAL LEGISLATION — ILLINOIS. 517 depositing iu the post office properly addressed to each subscriber, at least ten days before the time fixed a written or printed notice, stating the object, time and place of such meeting. Directors of such corporations organized under this act shall bo elected, classified and hold their office for such period of time as is provided by general law governing the election and classification of directors, trustees or mana- gers of corporations. Sec. 80, (as amended by act of June 19, 1893, pages 83-86, laws of 1893). The com- missioners shall make a full report of their proceedings, including therein a copy of the notice provided for in the foregoing section, a copy of the subscription list, a copy of the charter and bylaws adopted by the association, and the names of the directors elected and their respective terms of office, which report shall be sworn to by at least a majority of the commissioners, and shall be filed in the office of the secretary of state, and the secretary of state shall submit said bylaws to the attorney general, who shall report whether such bylaws conform to the requirements of this act, and if approved by the attorney general, the secretary of state shall thereupon issuo a certificate of the complete organization of the corporation, making a part thereof a copy of all papers filed in his office in and about the organization of the corporation and duly authenticated under his hand and seal of state ; and the same shall be recorded in the office of the recorder of deeds in the county in which the principal office of such company is located. Upon the recording of said copy the corporation shall be deemed fully organized and may proceed to business ; unless such company shall be organized and shall proceed to business as provided iu this act within two years after the dato of such license, tho license shall bo deemed revoked and all proceedings thereunder void. And any subsequent amendment or alteration of said bylaws shall be submitted to the secretary of state and be approved by the attorney general and be recorded in like manner as the original bylaws, before the same shall become operative; and only such bylaws as shall have been submitted, approved and recorded as herein provided shall be deemed opera- tive. And a true copy of all such bylaws and amendments thereto shall bo filed with the auditor of public accounts. Sec. 81. Corporations formed under this act shall be bodies corporate and politic for the period for which they a're organized ; may sue and be sued; may have a common seal, which they may alter or renew at pleasure. Sec. 82. The corporato powers shall be exercised by a board of directors : Pro- vided, the number of directors shall not be increased or diminished, nor their term of office changed, without the consent of the owners of two-thirds of the shares of stock. The officers of the company shall consist of a president, vice-president, secretary and treasurer, to be elected at the annual meetiug of tho board of direc- ' tors, as may bo provided for in the charter and bylaws of tho association : Provided, that tho secretary ouly shall bo entitled to compensation, and in such amount as may be provided for in the charter of such association: And provided, that the treas- urer shall give bond and security to be approved by the board of directors. Sec. 83. The shares of stock shall be ono hundred (100) dollars each, and shall be deemed personal property transferable upon the books of tho company, in such manner as may be provided by the bylaws, and subscriptions therefore [therefor] shall be made payable to the corporation, and shall be payable in such periodical instalments, and at such time or times as 'shall be determined by the charter and bylaws; but no periodical payment to be made exceeding two (2) dollars on each share; and every share of stock shall be subject to a lien for the payment of unpaid instalments and other charges incurred thereon uuder the provisions of tho charter and bylaws, and the bylaws may prescribe the form and manner of enforcing such lien. New shares of stock may be issued in lieu of shares withdrawn or forfeited, and tho stock may be issuod in ono or in successive series, as may be prescribed in the charter and bylaws, and in such amount (not to exceed the total capital stock) as the board of directors may determine, and any stockholder wishing to withdraw 5i 8 REPORT OP THE COMMISSIONER OP LABOR. from tho said corporation shall have power to do so, by giving thirty days notice of his or her intention to withdraw, when ho or sho shall ho entitled to receive the amount paid in by him or her, and such interest thereon or such proportion of the profits thereon as the bylaws may determine, less all fines and other charges: Pro- vided, that at no timo shall more than one-half of the funds of tho treasury of the corporation bo applicable to the demands of withdrawing stockholders without the consent of tho board of directors, and that no stockholder shall be entitled to with- draw whoso stock is held in pledge for security. Upon tho death of a stockholder his or her legal representatives shall be entitled to receive the full amount paid in by him or her on all shares not borrowed upon or pledged-to tho association as col- lateral security, and legal interest thereon, first deducting all charges that may be duo on tho stock; but no fines shall be charged to a deceased member's accouDtfrom and after his or her decease, unless tho legal representatives of such decedent assumes tho future payment of the dues on the stock. Sec. 84. Married women may become subscribers to tho capital stock of such asso- ciation, and hold, control and transfer their stock in all respects as femmes sole, and their stock shall not bo subject to the controrof, or liable for the debts of their husbands. Minors may become subscribers to and owners of tho stock of such asso- ciations by guardian or trustee, and such guardian or trustee may withdraw the stock of such minor as provided in section six [83] of this act: Provided, however, that such guardian or trustee shall give bonds to tho probate court in double the amount of tho withdrawal value of such stock, for the use of such minor on his or her becoming of age; but it is hereby provided, that no person as owner or legal repre- sentative of tho stock of such association shall by himself or by proxy, vote at any election, when the stockholders are called upon to vote, on more than forty shares of stock. Sec. 85. Tho board of directors shall hold such stated meetings, not less frequently than once a month, as may bo provided by the bylaws, at which the money in the treasury, if one hundred dollars, or more, shall bo offered for loan in open meeting; and tho stockholders who shall bid tho highest premium, for tho preference or prior- ity of loan, shall bo entitled to receive a loan of one hundred dollars for each share of stock held by said stockholders; the said premium bid may be deducted from the loan in one amount, or may bo paid in such proportionate amounts or instalments, and at such times during the existence of the shares of stock borrowed upon, as may be designated by tho bylaws of the respective associations : Provided, that any such association may, by its bylaws dispense with the offering of its money for bids in open meeting, and in lieu thereof loan its money at a rate of interest and premium fixed by its bylaws, aud either with or without premium, deciding the preference or priority of loans by tho priority of tho applications for loans of its stockholders : And, provided, that no loan shall be made by said corporation except to its own members, nor in any sum in excess of the amount of stock held by such members borrowing. But such stockholders may borrow such fractional part of one hundred dollars as tho bylaws may provide. Good and ample real estato security, unencum- bered, except by prior loans of such association, shall be given by the borrower to secure tho payment of tho loan : Provided, however, that tho stock of such association may be received as security, to tho amount of the withdrawal value of such stock. Any mutual building loan and homestead association, which may have heretofore been incorporated under tho laws of the state of Illinois, may avail itself of all the powers conferred by this act. Sec. 86. In caso tho borrower shall neglect to offer security, or shall offer security that is not approved by tho board of directors by such time as the bylaws may pre- scribe, ho or she shall be charged with one month's interest, together with any expenses incurred, and the money may bo resold at tho next stated meeting. In caso of non-payment of instalments of interest and fines by borrowing stockholders for the CHAPTER VI. — GENERAL LEGISLATION — ILLINOIS. 519 space of six months, payment of principal and interest and fines, -without -deducting the premium paid or tho interest thereon, may ho enforced by proceedings against their securities according to law. upon the order of the board of directors. Sec. 87. A borrower may repay a loan at any time, and in the event of tho repay- ment thereof beforo the expiration of tho eighth year after the organization of the association, or tho date of issue of tho series of stock in such, association on which tho loan may have been made, there shall be refunded to such borrower one-eighth of tho premium paid for every year of the said eight years then unexpired : Provided, that whero the said premium has not been deducted from the loan, but paid in instalments, there shall be no premium refunded; and any mutual building, loan and homestead association, which may havo heretofore been incorporated under the laws of tho state of Illinois, may avail itself of all tho powers conferred by thi3 act. Sec. 88. Corporations organized under this act being of the nature of cooperative associations, therefore no interest, premiums, fines nor interest on such premiums that may accrue to said corporation, according to tho provisipns of this act, shall be deemed usurious and tho same may bo collected as other debts of liko amount may bo collected by laws in this state; and, all money paid to sucli corporation being at onco loaned out and x>lacod into taxable property, and the shares of stock and notes provided for in this act being simply evidenco as to where such money has boeu placed, thereforCsuch stock and notes shall not bo subject to taxation. Sec. 89. No corporation or association created under this act shall cease or expire from neglect on tho part of tho corporation to elect officers at the timo mentioned in their charter and bylaws, and all officers elected by such corporation shall hold their offices until their successors are duly .elected. Sec. 90. Any loan or building association incorporated by or under this act is hereby authorized and empowered to purchase at any sheriff's or other judicial sale, or at any other sale, public or private, any real estate upon which such association may have or hold any mortgage, lien or other incumbrance, or in wbich said associa- tion may have an interest, and the real estate so purchased to sell, convey, lease or mortgago at ploasuro to any person or persons whatsoever. Sec. 91. Any loan or building association incorporated under this act or any prior act, may extend tho duration of time for -which such association was organized by a vote of two-thirds of tho capital stock of such association at any annual meeting of the stockholders of such association, thereupon tho board of directors shall trans- mit a copy of the proceedings of such annual meeting, duly attested to the secretary of state who shall issue his certificate as provided in section throe [80] of this act, certifying to the extension of time of duration of such association, and the same shall be recorded as provided in said section three [80] of this act. And any asso- ciation incorporated under any prior act, and extending tho duration of the time for which it was incorporated, in the manner herein provided, shall be deemed as incor- porated under, and bo vested with all of tho powers given in this act, the same as if such association had been originally incorporated under it. Sec. 91a, (as amended by act of June 19, 1893, pages 83-86, laws of 1893). The sec- retary of every building, loan and homestead association incorporated or doing business within this stato shall, within sixty days after the close of each fiscal year of such association, file with the auditor of public accounts of tho state of Illinois (with a fee of two dollars), a detailed statement of the receipts and expenditures of such association for such year, its assets and liabilities, the number of shares of its capital sioci issued, withdrawn and in force in each series of stock during such year, also tho number of shaTcs loaned upon, instalments paid per share, and profits per share, and value per share in each series, which statement shall bo in such form as shall be prescribed by tho au'ditor. Such statement shall bo sworn to by tho secre- tary of such association, and shall be certified to by at least throo members thereof not officers thereof. Any secretary who shall wilfully neglect or refuse to file such statement shall be subject to a fine of not less than twenty-five dollars nor more than 520 REPORT OF THE COMMISSIONER OF LABOR. two hundred dollars for each neglect or refusal to furnish such statement. The same may be recovered on complaint before any court having competent jurisdiction for the benefit of the county wherein said association is located or in which such secre- tary may reside. Sec. 91b, (as amended by act of June 19, 1893, pages 83-86, laws of 1893). It shall be the duty of the auditor of public accounts in person, or by one or more persons, to be by him appointed for that purpose, not officers or agents of, or in any manner interested in such association, except as stockholders, at least once in each year, to examine into the affairs of every such association incorporated in this state or doing business by its agents in this state, and it shall be the duty of tho officers or any agents of any such associations to cause their books to bo opened for inspection of the auditor or person or persons so by him appointed and otherwise facilitate such examination so far as it may be in their power to do so, and for that purpose the auditor or person or persons so appointed by him shall have power to examine under oath, tho officers and agents of such associations, relative to the business of such associations, and whenever the auditor of public accounts shall deem it for the best interests of tho public so to do he shall publish the result of any investigation in one or .more newspapers of general circulation, published in the county in which ^ho principal office of such association is located, and annually on or before the first day of December of each year, the auditor of public accounts shall report in writing to tho governor tho financial condition of all such associations doing business in this state. The auditor shall receive for such examination made by him in person or by deputy, his reasonable compensation aud expenses, and said compensation and expenses shall be paid by the association so examined. Sec. 91c, (as amended by act of Juue 19, 1893, pages 83-86, laws of 1893). And when- ever it shall appear to said auditor that the assets of any such association incorpo- rated or doing business in this state, are insufficient to justify the continuance of business of such association, or that it is conducting its business in whole or in part contrary to law, or in an unsafe manner he shall communicate the fact by mail, addressed to tho president and secretary of such association, the mailing of such notice shall be deemed sufficient evidence and notice. Such association shall he allowed sixty days within which to make the assets sufficient or correct such illegal practices; and in case such assets are not made sufficient or such illegal practices corrected within tho time herein provided, then the auditor shall report the same to the attorney general, whose duty it shall then become to apply to tho circuit court of tho county in which the principal office of such asspciation may be located, or to any of the judges of said court, in the name of the people of this state on the rela- tion of said auditor for an order requiring such association to show cause why the business of such association shall not be closed or for an injunction restraining such association from doing further business, which application may be made either in term time or in vacation, in the manner now provided for obtaining injunction, except no bond should bo'required from said auditor in obtaining such injunction, the court shall thereupon proceed to hear the allegations and proofs of the respective parties either in open court or by reference to a master in chancery; and in case it shall appear to tho satisfaction of said court that the assets and funds of said asso- ciation are not sufficient as aforesaid or that such association has been conducting its business, in whole or in part, contrary to law, the court may decree a dissolution of said association and tho distribution of the assets, aud may appoint a receiver of such association, with full power to do all acts necessary to close the affairs of such association, aud for tho proper distribution of its assets. Sec. 91d. Any such association may allow reasonable compensation to its audit- ing committees for their services as such, not exceeding tho sum of four dollars per diem, nor for more than three days during each quarter year, such committee to consist of throe shareholders, not officers thereof. Sec. 91e. In all cases where associations have been formed in this state under "An CHAPTER VI. — GENERAL LEGISLATION — ILLINOIS. 521 act to enable associations or persons to become a body corporate to raise funds to be loaned only among tbo members of such, association," in force July 1, 1879; and said associations bave taken bonds, and trust deeds made to third persons, convey- ing real estate to said third persons as trustees, as security for the payment of said bonds ; and when it becomes necessary for any such trust deed to be released, and said trustee shall refuso to make such release, or he shall be absent from the town, city or county where such real estate is located, then it shall be lawful for the presi- dent or secretary of such association, on being requested so to do by the board of directors of such associations, to act in the capacity of alternate trustee, fully authorized and empowered to release all claim, right, title and interest his associa- tion has in and to the real estate described in the trust deed to be released. Sec. 91/. All releases of trust deeds made in accordance with the foregoing sec- tion shall be held and esteemed as of the same value and significance as if they had been made and executed by the person named as trustee in said trust deeds. LAWS OE 1893. (Page 86.) Section 1. Foreign building, loan and homestead associations doing business in this state shall conduct the same in accordance with the laws of this state governing domestic associations, and no such association shall do any business in this state until it procures from the auditor of public accounts a certificate of authority to do so. To procure such authority, such association shall comply with the following provisions : 1. It shall deposit with the said auditor one hundred thousand (100,000) dollars, either in cash oi/ bonds of tho United States or of the state of Illinois, or of any county or municipal corporation in tho state of Illinois, satisfactory to the said auditor. 2. It shall file with the auditor a certified copy of its charter, constitution and bylaws, and other rules and regulations showing its manner of conducting business, together with a statement such as is required annually from all associations, and certified copies of all subsequent amendments to such bylaws. Sec. 2. Whenever such association has complied with the provisions of this act, and tho auditor is satisfied that such association is doing business according to the laws of this state, and is in sound financial condition, Ire shall issue his certificate of authority to such association to do business in this state. Annually thereafter, upon the filing of the annual statement herein provided for, if tho auditor shall be satisfied as aforesaid, ho shall issue a renewal of such certificate of authority. Sec. 3. Such foreign association may collect and use the interest on any securities so deposited, so long as it fulfils its obligations and complies with the provisions of this act. It may also exchange them for other securities of equal value and satis- factory to the auditor. Sue. 4. The deposit made with the auditor shall be held as a security for all claims of residents of this state against said association, and shall bo liable for all judgments or decrees thereon, and subjected to tho payment of the same in the same manner as tho property of other non-residents. Should any association cease to do business in this state, the auditor may release securities in his discretion, retaining sufficientr-to s.itisfy all outstanding liabilities. Sec. 5. Should the auditor find, upon examination, that any foreign association does not conduct its business iu accordance with the law, or that the affairs of any such association are in an unsound condition, or if such association refuses to per- mit examination to be made, he may cancel the authority of such association to do business in this state, and cause a notice thereof to be sent to the homo office of the association, and to bo published in at least one newspaper in tho city of Springfield. After the publication of such notice, it shall be unlawful for any agent of said asso- 522 REPOKT OF THE COMMISSIONER OF LABOR. eiation to recoivo any further stock deposits from members residing in ibis 6ta,te, except payments on stock on which a loan has been taken; Sue. 6. Foreign building and loan associations shall pay to the auditor the follow- ing fees, which shall ho paid into the state treasury, to wit: For filing each appli- cation for admission to do business in this state, iii'ty (50) dollars for each certificate of authority, and annual renewal of same twenty-five (25) dollars. Sec. 7. It shall bo unlawful for any building and loan association to do business in this state without having first complied with the provisions of this act, or for any person to sell, dispose of, or offer to sell or dispose of, any shares of stock of any such association which has not complied with the provisions of this act, and any association violating any of the provisions of this act, or failing to comply with any of its provisions, or any person so selling or offering to sell or dispose of stock in any such association which has not complied with the provisions of this act, shall ho fined not less than fifty dollars nor more than one thousand dollars, to be .recov- ered by an action in the name of the state, aud on collection to bo paid into the state treasury: Provided, that building and loan associations organized in other states, having heretofore transacted business in this state which shall not have com- plied with tho provisions of this act, shall "have the right to close up their business and fulfil their contracts heretofore entered into with citizens of this state, through their duly authorized agents, without being subject to tho penalties prescribed by this act ; hut all contracts made after tho passage of this act by such associations not authorized to do business in this state at the time of making such contracts shall he null and void. INDIANA. REVISED STATUTES OF 1881. Section 3-107. Any number of persons, not less than ten, may associate themselves together for the purpose of organizing building, loan fund, and savings associations, and for that purpose they shall make, sign, and acknowledge, before some officer capa- bleof taking acknowledgments of deeds, an article of association in writing; which shall state tho corporate name adopted by tho company, the object of ita formation, the amount of capital stock, the number of tho directors and their names (who shall manage the affairs of tho company for tho first year), and the name of the town or county in which its operations are to ho carried on; aud cause tho said articles to bo recorded in tho recorder's office of tho county where the business is to be carried on, and [file] a duplicate thereof in tho office of tho secretary of state. Sec. 3403. When tho articles of association shall havo been filed and recorded as aforesaid, u, certified copy thereof shall be evidence of tho tilings therein contained; and the persons who shall havo filed and acknowledged the same, and their succes- sors, shall ho a body corporate and politic and in their corporate name may contract, sue, and bo sued, and may hold and convey real estate and personal property as here- inafter provided; and tho business of the association shall bo managed by a board of directors, who shall be stockholders of tho association, and who shall be selected by tho stockholders as tho bylaws of tho association may provide. Sec. 3109. The company shall havo tho power and franchise of loaning or advanc- ing to tho stockholders thereof tho moneys accumulated from time to time, and the power and right to secure tho repayment of such moneys and the performance of the other conditions upon which tho loans aro to be made, by note and mortgage, or upon note secured by stock of tho association cr personal security, as well as the power and right to purchase or erect houses, and to sell, convey, lease, or mortgage the same at their pleasure to their stockholders or others for the benefit of their stockholders in snch manner. Tho premiums taken by the said association, for the preference or priority cf sa"h loans, shall not be deemed usurious. And in case of non-payment of instalments or interest, by borrowing stockholders, for three months, CHAPTER VI. — GENERAL LEGISLATION INDIANA. 523 .payment of principal, premium, and interest (without deducting , the premium paid or interest thereon) may bo enforced by proceedings on their securities, according to law. * Skc 3410. The capital stock of any corporation created for such purposes by virtue of this act shall at no time consist, in the aggregate, of more than five hundred thou- sand dollars, to bo divided into shares of such denomination, not exceeding five hundred dollars each, and in such number as the bylaws of tho association may provide: Provided, that tho capital stock may bo issued in scries; but no such series shall, at any issue, exceed in the aggregate, one hundred thousand dollars— the instalments on which such stock are to be paid at such time and place as the bylaws may provide; but no periodical paymout of such instalment shall bo made exceed- ing fifty cents per week on each one hundred dollars of stock; and said stock may be paid off and retired as the bylaws may provide. And every share of stock shall be subjectto a lien for tho payment of unpaid instalments and other charges incurred thereon, under tho provisions of the constitution and bylaws; and tho bylaws may prescribe tho form and manner of enforcing such lien. And, in lieu of tho shares withdrawn or forfeited, tho stock may b'o issued in one or in successive series, in such amounts as tho board of directors may determine. And any stockholder wish- ing to withdraw, from said corporation shall have power to do so by giving three months' notice to tho board of directors Of his or her intention to withdraw; when ho or sho shall bo entitled to receivo the amount paid in by him or her, less all fines and other charges. But after tho expiration of one year from tho issuing of tho series, such stockholder shall be entitled, in addition thereto, to legal interest thereon: Provided, that at no time shallmoro than one-half of tho funds in tho treas- ury bo applicable to the demands of withdrawing stockholders, without tho consent of the board of directors, and that no stockholder shall bo entitled to withdraw whose stock is held in pledge for security. Upon tho death of a stockholder, his or her legal representative shall be entitled to receivo the full amount paid in by him or her, and legal interest thereon, first deducting all charges that maybe duo on the stock. No fines shall bo charged to a deceased member's account, from and after his or her decease, unless the legal representatives of such decedent assume the future payments ou the stock. Sec. 3411. The number, functions, qualifications, and compensation of tho officers of any corporation, their terms of office, tho times of their election, as well as the qualifications of electors and the votes and manner of "voting, and tho periodical meetings of said corporation, shall be determined by tho bylaws of the association, when not provided by this act. Sec. 3412. Said directors shall hold stated meetings, at which tho money in tho treasury, if over tho amount fixed in tho constitution or bylaws as tho full value of a share, shall bo offered for lor.n in open mooting. Tho bylaws of tho association shall prcscribo tho manner of awarding such loan or loans to its members, tho rate of interest to be paid therefor, not exceeding ten per cent per annum, payable monthly or qnarterly in advance; or taiil association may provide in its bylaws that such loans shall bo made to the members of said association who shall bid the highest premiums for the preference or priority of loan, and who shall bo entitled to receive a loan of not more than the amount fixed by the constitution and bylaws as tho full value of a share for each share of stock held by such person. The said premium shall bo bid as of so much per share: Provided, that a stockholder may borrow such fractional part of tho amount fixed bj 7 the constitution and bylaws as tho full value of a share as the bylaws may provide. Good and amplo real estate or personal security, as prescribed by tho bylaws of tho corporation, shall bo given by the Dorrowor to secure the repayment of tho loan with interest, and also for tho payment of tho dues, fines, and assessments that may bo assessed on his share of stock upon which tho loan is made. In case tho borrower shall neglect to offer security, or shall offer security that is not approved by the board of directors, by 524 REPORT OP THE COMMISSIONER OP LABOR. such time as the bylaws may prescribe, he or she shall bo charged with legal interest, as prescribed in the bylaws, together with any expense incurred, and the loss in premium, if any, on a resale; and the money irAy bo resold at the next stated meeting. In case of non-payment of instalments or interest by borrowing stockholders for the space of three months, payments of principal and interest, and fines, without deducting the premiums paid or interest thereon, may be enforced by proceedings on their security according to law. Sec. 3413. A borrower who is not in arreas for dues, interest, fines, or assessments, may repay his loan at any time, and may, at the same time, withdraw from the association ; and for that purpose he shall pay to the association or the officer thereof authorized to roceivo payment of dues or interest, the full face amount of the princi- pal of his loan less the amount by him paid to said association as dues and assess- ments on his stock, with interest on such payments, from the time they were made, at eight per cent per annum, and less so much of the premium or discount paid by him on his loan for the priority thereof as shall bear the same proportion to the whole premiums by him paid which the unexpired time for which the loan was made bears to the whole time for which the loan was made; and, on such payment being made, tho stock held by such person shall be delivered up to said asooiation, and cancelled, and no new stock shall be issued therefor; and the officer of such associa- tion to whom such payment is made shall also immediately cancel and deliver up to such borrower his note and mortgage, or other evidence of said loan, and shall enter on the record of such mortgage a full satisfaction thereof; which entry shall be a complete satisfaction of said mortgage. Sec. 3414. No premiums, fines, or interest on such premiums that may accrue to the said corporation, according to the provisions of this act, shall be deemed usurious; and the same may be collected as debts of like amount are now, by law, collected in this state. Sec. 3415. No corporation or association, created under this act, shall cease or expire from neglect on the part of the corporation to elect officers at the time men- tioned in their bylaws; and all officers elected by such corporation shall hold their offices until their successors are duly elected. Sec. 3116. Any building, loan fund, or savings association incorporated under or by this act, and those incorporated prior thereto, are hereby authorized and empow- ered to purchase, at any sheriff's or other judicial sale, or at any other sale, public or private, auy real estate upon which such association may have or hold any mort- gage, judgment, lieu, or other incumbrance, or ground rent, or in which said associa- tion may have an interest; and the real estate so purchased, or any other that such association may hold or be entitled to at the passago of this act, to sell, convey, lease or mortgage at pleasure to any person or persons whatever; and all sales of real estato heretofore made by such association, to any person or persons, are hereby confirmed and mado valid. Sec 3417. All such corporations shall have full power to purchase lands, and to seH and convey tho same, or any part thereof, , to their stockholders or others, in fee simple, with or without tho reservation of ground rents; but the quantity of land purchased by any one jc S£u4 associations hereinafter incorporated shall not, in the whole, exceed fifty -wre.i' ■ ,nd in all eases the land shall bo disposed of withiu ten years from purchaser :ame. All building, loan fund, and savings associations are hereby authorized to make sale of and extinguish to any person or persons the ground rents created as aforesaid. Sec. 3118. An act entitled "An act for the incorporation and continuance of build- ing, loan fund, and savings associations," approved March 5, 1857, and also an act entitled "An act authorizing tho organization of voluntary associations, and pre- scribing their duties and powers," approved March 7, 1873, and all other acts in con- flict with the provisions of this act, are hereby repealed: Prodded, however, that all rights acquired and all acts performed in pursuance of the provisions of the above CHAPTER VI. — GENERAL LEGISLATION — INDIANA. ,525 mentioned acts are saved from the effects of this repealing clause, and all building, loan fund, and savings associations, or corporations which have commenced proceed- ings under said acts, may proceed according to the provisions of this act. Sec. 3419- All such associations shall have power to assess, in addition to amount provided in section four of this act [3410], the sum of twenty-five cents per montU upon each share of stock, for the purpose of defraying the expenses of the associa- tion ; which sum shall he payable with the regular instalment; and shall also have the power to provide in their bylaws for the assessment and collection of fines and penalties from delinquent stockholders for non-payment of dues, interest, instal- ments, and assessments; also to provide in their bylaws for the forfeiture of all the Tights and immunities in the association of such delinquent members after a default of threo months to pay the dues, interest, instalment, assessments, and fines ; and also to provide, in case a borrower of money from such association shall fail and neglect to pay his dues, fines, assessments, interest, and instalments for a period of three months from the time the same shall become due and payable, that such failure and neglect shall work a forfeiture of all his rights and immunities as a member of said association and the whole sum loaned to him by said association shall become immediately due and payable, and may be collected, together with all such fines, dues, interest and instalments, by law. Sec. 3420. All building, loan, and savings associations, legally organized or attempted to be organized under any statute of this state, shall not be deemed or held invalid by reason of the failure to have recorded in the recorder's office of the county wherein such association is located the articles of association before commencing business; but where the articles of association shall have been properly filed in the office of the secretary of state before commencing business, it shall be deemed and held to havo been a sufficient compliance with the law ; or where either of said acts have been done and not the other, the same shall be taken and held as a substantial and valid compliance with the law on the subject of organizing such associations; and where the articles of such association have, since the commencement of business therecf, been recorded in the recorders's office of the county wherein the association is located, or the same have been filed in the office of the secretary of state, or where such omitted act shall hereafter be done as directed by law, the same shall bo held and taken as a substantial compliance with the law organizing building, loan, and savings associations; and all acts of the original directors, and their successors and officers cf such association, and all business done, loans made, mortgages taken, moneys collected and disbursed in pursuance of the law in such cases, and in com- pliance with the constitution and bylaws of such association, are hereby legalized and made valid, and all members and contracting parties shall be deemed and held to be fully bonnd by their contract with such association. ELLIOTT'S SUPPLEMENT OF 1889. Section 840. Any number of persons, not fewer than ten, after at least one hundred shares of stock have been subscribed for, may associate themselves together for the purpose of organizing building, loan fund and saviugs associations, and for that purpose they shall make, sign and acknowledge in duplicate before somo officer, capable of taking acknowledgments of deeds conveying real estate, a certificate of incorporation in writing, which shall state the corporation name adopted by the company, the object of its formation, the amount of its capital stock, the amount of capital stock already subscribed for, the number of its directors and their names, who shall manage the affairs of the company for the first year, and the name of the town or county in which its operations arc to be carried on; and shall cause one of said certificates to be filed and recorded in the recorder's office of the county where the business is to be carried on, and shall file the other of said certificates in the office of the secretary of state. Sec. 841. When the certificate of incorporation shall have been filed as aforesaid, 52 6 REPORT OP THE COMMISSIONER OF LABOR. a certified copy thereof shall be evidence of the contents thereof; and the persons who shall have signed and acknowledged such certificate, and their successors, shall be a body politic and corporate, and in their corporate name may contract, sue, and be sued, aud may hold and convey real estate and personal property as hereinafter provided. The business of tho association shall be managed by a board of directors, who shall be. stockholders of tho association, and who shall be selected by the stock-, holders as tho bylaws of tho association may provide. Sec. 812. Tho corporation shall havo tho power and franchise of loaning or advanc- ing to tho stockholders thereof, at interest not exceeding tho legal contract rate at tho time, tho moneys of tho association accumulated from time to time, and the power and right to sccuro the repayment of such money and the performance of other conditions npoii which tho loans are made,, by noto or bond and mortgage, or upon note or bond secured by stock of the association or porsonal security, as well as the power and right to pnrckaso real cstato and improve the same, and to sell, convey, leaso or mortgage tho same, at its pleasure, to its stockholders or others for tho bene- fits of the stockholders, cr to loan the moneys of tho association to others than its stockholders, at a rate of interest not exceeding the legal contract rate of interest, upon good and ample real estate or personal security, for tho benefit of its stock-, holders, when there is no demand for loans on the part of the stockholders. Tho- premiums taken by such association for tho preference or priority in procuring loans, made to stockholders shall not be deemed usurious, and in case of non-payment of instalments upon stock, or interest or premium by borrowing stockholders, for three months, payment of principal, premium and interest (without deducting the pre- mium or interest paid) maybe enforced by proceedings on their securities according to law. Sec. 813. Tho capital stock of any corporation created by virtue of this act shall at no time consist in tho aggregate of more than one million dollars, to bo divided into shares of such denomination, not exceeding fivo hundred dollars each, as the bylaws of tho association may prescribe: Provided, that the capital stock may be. issued in series; but tho stock in any such, series shall not at anytime exceed in tho aggregate one hundred thousand dollars; tho instalments in which the stock is to bo paid, tho times and place of payment, shall be as the bylaws may provide; but no periodica] payment of such instalment shall be required exceeding fifty cents yjer week on each one hundred dollars of stock; tho stock maybe paid off and retired as tho toylaws may provide. Every share of stock shall be subject to a lien for tho payment of unpaid instalments and other charges incurred thereon under the provisions of tho constitution and bylaws ; and the bylaws may prescribe tho form and manner of enforcing such lien. In lieu of tho shares withdrawn, forfeited, retired, or expired, new stock may bo issued in one or in successive series, and in such amounts as the board of directors conformably to the bylaws may deter- mine; but at no timo shall the outstanding stock in any series exceed one hundred thousand dollars, nor of tho association oxeood ono million dollars, or its capital as fixed by tho certificate of incorporation. Any stockholder wishing to withdraw from such corporation may do so upon throo months' notice given to the board of directors, when such withdrawing stockholder shall be entitled to receive the amount paid in upon tho stock to bo withdrawn, less all fines and other charges thereon: Provided, that when the withdrawal occurs after tho expiration of one year from the beginning of the scries in which the stock to be withdrawn was issued, ho shall receive in addition to the amount paid in, less tines and other charges as aforesaid, at least legal interest on each instalment paid from tho date at which the samo was payable : Provided, that at no timo shall more than one-half of tho funds in tho treasury bo applicable to demands of withdrawing stockholders, unless tho board of directors in its discretion shall order otherwise, and the board may, in its discretion, waive tho notice hereinbefore required as to any withdrawal ; no stock shall be withdrawn which is at tho time held in pledge for security. Tho CHAPTEE VI. GENERAL LEGISLATION — INDIANA. 527 legal representatives of any deceased shall bo entitled to reeeivo tlio full amount paid in by his decedent, with legal interest thereon, from the dates at which the same was payable, after deducting all fines and charges thereon. No fine shall be charged to a deceased member's account for any default occurring after his death, unless tho legal representatives of the decedent shall have assumed the future pay- ments on tho stock. i Sec. 844. The number, function, qualifications and compensation of tho officers of -any such corporation, their terms of office, the times of their election, a3 well as the qualifications of tho electors, and tho votes and manner of voting, and tho peri- odical meetings of such corporation, shall bo determined by the bylaws of such association when not provided by this act. Sec. 845. The diroctors shall hold stated meetings, at which tho money in the treasury, if over tho amount fixed in the constitution or bylaws as tho full value of a share, shall bo offered for loan in open meeting. Tho bylaws of tho association shall prescribe the manner of awarding loans to its members, tho time cr times when tho premium, if any, shall bo paid, tho rate of interest to be charged not exceeding the then legal contract. rate, and tho time when tho interest shall bo. paid, whether monthly or quarterly in advanco; or such association may provido in its bylaws that the loans shall be mado to tho members of the association who shall bid tho highest premiums for tho preference or priority in procuring loans (tho premium to bo pay- able at ono timo or [in] instalments), which member so bidding shall bo entitled to reeoivo.a loan of not more than the amount fixed by the constitution and. bylaws as the full value of a share for each share of stock held by him and then and there bid off. Tho premium shall bo bid as of so much per share : Provided, that a stockholder may borrow such fractional part of tho amount fixed by tho constitution, and bylaws as tho full value of a share as tho bylaws may provide. Good and amplo real estate or personal security, as proscribed by tho bylaws of the corporation, shall bo given by the borrower, or in his behalf, to secure the repayment of tho loan with interest, and also for tho payment of tho dues, unpaid premiums, if any, fines and charges that maybe assessed upon tho stock upon which tho loan is made. In case tho borrower shall neglect to offer security, or shall offer security that is not approved by tho board of directors, by such timo as tho bylaws shall prescribe, he or she shall be charged with legal interest, as prescribod in tho bylaws, together with' any expense incurred, aud tho loss, if any, on a resale, and the money may bo resold at the next stated mooting. In caso of non-payment of instalments or interest, or unpaid premium, if any, by borrowing stockholders for tho spaco of three months, payments of principal, interest, unpaid premiums, if any, andfines, without deducting premiums of interest paid, may bo enforced by proceedings on their securities according to law. Sec. 84G. A borrower, who is not in arrears for dues, interest, premiums, fines, or assessments, may repay his loan at any timo, and may at the same timo withdraw ftom tho association, and for that purposo ho shall pay to tho associatioa, or to the officer authorized to receive tho same, tho full face amount of tho principal of his loau, loss tho amount by him paid to said association as dues on his stock, with interest on such payments from tho timo they were made, at not less than the same rato per cout per annum that ho has paid to the association a3 interest upon, his loan, and less so much of tho premium or discount paid byhim o:i his loanfor thopriority thereof as shall boar the same proportion to tho whole promium by him paid, which the unexpired timo for which tho loan was mado bears to tho whole time for which the loan was made; and on such payment being mado, tho stock held by such person upon which his loan was mado, shall be surrendered to the. association and shall be cancelled; and thereupon tho proper officer of such association shall immediately deliver to such borrower his note, or bond and mortgage, or other evidence of such loan, and shall also enter of record a full satisfaction of such mortgage, which entry shall be a complete extinguishment of such mortgage and the debt thereby secured. Sec. 847. No premiums, fines, or interest on such premiums that may accrue to said 528 REPORT OF THE COMMISSIONER OF LABOR. corporation, in addition to interest on any loan made by it, according to the pro- visions of tins act, shall bo deemed usurious, and the same may be collected as debts of like amount are now, by law, collected in this state. Sec. 848. No corporation or association created under this act shall cease or expire from neglect on the part of the corporation to elect directors or officers at the time mentioned in its bylaws, and all directors and officers elected by such coroporation shall contiuuo in office until their successors are duly elected. Sec. 849. Any corporation organized under this act, and those incorporated prior thereto, are hereby authorized and empowered to purchase, at any sheriff's or other judicial sale, or at any other sale, public or private, any real estate upon which such corporation may have or hold any mortgage, judgment, lien, or other incumbrance, or in which such corporation may have an interest ; and the real estate so purchased, and any other that such corporation may hold or be entitled to at the passage of this act, it may sell, convey, leaso or mortgage, at pleasure, to any person or persons whatever; and all salo[s] of real estate heretofore made by any such corporation to any person or persons are hereby confirmed and made valid. Sec. 850. All such corporations shall have full power to purchase real estate and to sell and convey the same, or any part thereof, to their stockholders or others in full feo simple, but the quantity of land purchased by any one of such corporation shall not, in tho whole, at any one time, exceed fifty acres ; and in all cases such real estate shall be disposed of within ten years from the purchase of tho same. Sec. 851. All such corporations shall have power to charge, in addition to the amounts heretofore provided by this act, a sum not exceeding twenty-five cents per month upon each share of stock, for the purposo of defraying the expenses of the association, which sum shall be payable with tho regular instalment; to make assessments upon tho capital stock to cover losses ; and shall also have power to provido in their bylaws for the chargo and collection of fines and penalties from delinquent stockholders for non-payment of instalments of dues, interest, premiums and charges ; also, to provide in their bylaws for the forfeiture of all the rights and immunities in tho association of such delinquent members after a default of three months to pay instalment of dues, interest, premiums, charges or fines, and also to provide, in case of a borrower of money from such association shall fail and neglect to pay his instalments of dues, fines, charges, interest or premiums, for a period of threo months from the time the same shall become due and payable, that such failure and neglect shall work a forfeiture of all his rights and immunities, and the whole sum loaned to him by such association shah, at its option, become immediately due and payable, and may be collected, together with all fines, instalments of dues, interest and premium, if any, then unpaid. Sec. 852. Infants may become stockholders in any corporation organized under this act the same as adults, and such infant stockholder^] shall bo subject to the same dnties and liabilities as respects their stock as adult members. Any receipt, release, acquittance or discharge given to the corporation by an infant stockholder shall be binding upon the iniant to the same extent as if such infant were of full ago. Sec. 853. "When, in case of any loan made by any such corporation, tho borrower, or any other person furnishing security in behalf of the borrower, shall, as«an inducement to the corporation to make the loan, represent to it in writing that he or she is over tho ago of twenty-one years, whereas in fact such person so repre- senting is under lawful age and the association is thereby deceived, and the loan is upon such representation made, neither such person so representing nor any one in his or her behalf shall afterwards bo allowed as against said corporation to take advantago of tho fact that he or she was not of full age, but such person shall be estopped by such representation. Sec. 854. Any such corporation organized prior to tho taking effect of this act, under any preexisting statute of this state, may accept the provisions of this act by filing in the office of the recorder of the county in which the association is located, CHAPTER VI. — GENERAL LEGISLATION — INDIANA. 529 a written acceptance of the provisions of this act, which acceptance shall be signed by the president of such corporation and attested by its secretary, and shall, on ■behalf of the corporation, ho acknowledged by the same officers, before some officer authorized to take acknowledgments of deeds conveying real estate; and a dupli- cate of such written acceptance, executed and acknowledged as aforesaid, shall bo filed in the office of the secretary of state, and from and after such filing, such cor- poration shall have all the powers hereby granted and shall be subject to the pro- visions of this act. Sec. 855, (as amended by chapter 166, acts of 1893). Any building, loan fund and saving association organized, or which may hereafter be organized under the laws of this state, may increase its capital stock to any sum not exceeding two million dollars ($2,000,000) upon the passage of a resolution for such increase by the stock- holders of such corporation at any regular meeting of stockholders, or at any special meeting called for that purpose. Upon a. certified copy of such resolution, under the hand of the chairman of such stockholders' meeting and of the secretary of such meeting being filed in the office of the recorder of the county where the corpo- ration is located, and a like copy in the office of the secretary of state, and the pay- ment of the fees required by law for such increase, the authority to issue the stock as thus increased shall be deemed complete. Sec. 856. All building, loan fund and savings associations, legally organized or attempted to be organized under any statute of this state, shall not be deemed or held invalid by reason of the failure to have recorded in the recorder's office of the county wherein such association is located the articles of association before com- mencing business; but where the articles of association shall have been properly filed in the office of the secretary of state before commencing business, it shall be deemed and held to have been a sufficient compliance with the law; or when either of said acts have been done and not the other, the same shall be taken and held as a substantial and valid compliance with the law on the subject of organizing such association ; and when the articles of such association have, since the commence- ment of business thereof, been recorded in the recorder's office of the county wherein the association is located, or the same has been filed in the office of the secretary of state, or where such omitted act shall hereafter be done as directed by law, the same shall be held and taken as a substantial compliance with the law organizing building, loan fund and savings associations ; and all acts of tho original directors, and their successors, and of the officers of such association, and all business done, loans made, mortgages taken, moneys collected and disbursed in pursuance of the law in such cases, and in compliance with the constitution and bylaws of such association, are hereby legalized and made valid, and all members and contracting parties shall be deemed and held to be fully bound by their contracts with such association. Sec. 857. All acts in conflict with the provisions of this act are repealed: Pro- vided, lioweeer, that all rights acquired and any and all acts performed in pursuance of tho provisions of any act so repealed are saved from the effects of such repeal, and all building, loan fund and savings associations or corporations which have com- menced proceedings under said acts, or any of them, may proceed according to the provisions of this act. Sec. 858. On or before the first day of June of each year, the secretary of every building, loan and savings association shall file with the auditor of the county in which such association was organized, a duplicate statement, verified by said secre- tarv showing the amount -paid into said association by shareholders upon shares of stock issued by it up to the first clay of April preceding and then outstanding, and also tho amount loaned, up to said date, to shareholders, and secured by mortgage upon real estate. And such auditor shall deliver said statement to the proper assessor, who shall proceed to assess said association for taxation with tho amount shown to have been paid into said association up to said first day of April upon out- H. Ex. 209 34 530 REPORT OF THE COMMISSIONER OF LABOR. standing shares of stock, less the amount shown by the statement to have been loaned to shareholders upon such mortgage security. Sec. 859. Neither such association nor the shareholders therein shall he liable to taxation upou the shares of stock issued by such association, except as provided by- section 1 [858] of this act, and all laws in conflict herewith are hereby repealed. ACTS OF 1893. Chapter 121. Section 1. It shall be unlawful for any corporation, association or society, organ- ized under the laws of any state (other than the state of Indiana), or of any govern- ment foreign to the government of tho United States, to conduct or cngago in the business of a building, loan fund, savings or investment .".ssociation, and of issuiug stock or bonds to members, payahlo in weekly, monthly or yearly instalments or assessments, agreeing to pay thereon dividends or profits, or interest, or to pay off bonds by number consecutively or otherwise, without having first filed in the office of the auditor of state a statement, under the oath of the president, secretary, and at least three of the directors, showing tho name and location of such corpora- tion, association or society, date of incorporation, the names of its officers, the amount of its capital stock, tho amount of its capital stock paid in, tho amount of the assets of said corporation, association or society, tho character of such assets and tho fair cash value thereof, together with the fair cash value of all tho securities held by such corporation, association or society; the liabilities of such corpora- tion, association or society, and tho character of such liabilities ; the par value and the amount of dues or assessments chargeable on each share of stock issued by such corporation, association or society ; tho proportion of such dues or assessments credited to the loan fund, expense fund, or other fund; when such assessments or dues aro payahlo; tho amount of premium and interest charged on loans made by such corporation, association or society ; tho amount of interest paid on debenture, paid-up or other stock issued by said corporation, association or Bocioty ; and such other information concerning the business of said corporation, association or society as may, from time to time, be required by said auditor of state. Sec. 2. In addition to the statement required by section one (1) of this act said foreign corporation, association or society shall file with the auditor of state a copy of its act of incorporation, properly authenticated by the officer of the state in which said foreign corporation, association or society is incorporated, a copy of tho bylaws and rules governing it, and of each of the several kinds of the certificates issued to its shareholders or stockholders. Sec. 3. Every such foreign corporation, association or society doing business in this state shall conduct the same in accordance with tho laws of this state governing domestic associations. It shall also doposit with the auditor of state ono hundred thousand dollars, cither in cash or bonds of tho United States, or of any stato of the United States, or any county or municipal corporation in the state of Indiana, satis- factory to tho auditor, or in lieu of any such deposit, any such foreign corporation, association or society, shall filo with tho auditor of state a written contract or bond executed by u responsible surety and guaranty corporation or company to the approval of the auditor of state, by which contract or bond said surety and guar- anty corporation or company shall agrco that upon notico by mail from said auditor that any such foreign corporation, association or society is indebted to any citizen of tho state of Indiana in any sum or sums, which indebtedness itrcfuses to promptly pay, that it will at once pay such sum or sums to said auditor and continue so to do from timo to tirao until such payments shall equal ono hundred thousand dollars; and upon failuro to make such payment or payments, then such auditor shall at once revoko the license of any such foreign corporation, association or society, under sec- tion 4 of this act, and suit against such surety and guaranty corporation or com- CHAPTER VI GENERAL LEGISLATION INDIANA. 531 pany shall bo brought by tho stato of Indiana on relation of the attorney general of said state, and any judgment recovered against any such surety and guaranty cor- poration or company shall iucludo one hundred dollars damages and costs of suit, exclusive of such sum or sums of iudebtcdness in favor of such citizen or citizens, which damages shall bo the compensation of said attorney general for recovering such judgment. Such surety and guaranty corporation or company shall agree in writing, filed with the auditor before acceptance by the auditor of its contract or bond, to accept service of process of court by service thereof on the auditor, who shall mail a copy thereof to the offico of such corporation or company. And such auditor may, whenever in his judgment he thinks any such contract or bond so filed in his office to be insufficient, request any such foreign corporation, association or society to file a new bond, satisfactory to such auditor, and upon failuro to comply with such requirement said auditor shall revoke the license of said foreign corpora- tion, association or society, as provided in said section i, to do business in thi3 state, and such foreign corporation, association or society shall not bo entitled to enforce by legal proceedings any evidence of indebtedness against any citizen or citizcn3 in this state or any mortgages against any property in this state until such requirement has been so complied with. Any such foreign corporation, association or society shall also file with the auditor a written instrument properly execute:!, agreeing that a summons may issue against it from any county in the state, and when served upon the auditor of state shall bo servico upon such foreign corporation, association or society. The auditor shall, however, mail a copy of any papers served upon him, postage prepaid, to tho homo offico of such foreign corporation, association or society. SkC. 4. Upon compliance with tho preceding soctions of this act by any such foreign corporation, association or society, and tho auditor of stato is satisfied that it is doing a lawful and safe business, ho may issuo to said foreign corporation, asso- ciation or society a license authorizing it to conduct its business in this stato and tosolicitsubscriptionsfromthoresidontsof this stato to its capitalstock. Tho auditor of slate shall have tho power, at any time, to rcvoko said license when said foreign corporation, association or society fails or refuses to comply with any of tho pro- visions of this act, or when any such foreign corporation, association or society shall refuse to permit to be mado the examination of the affairs of such foreign corpora- tion, association or society hereinafter provided for, or when, upon examination, the auditor of state shall find that such foreign corporation, association cr society is not conducting its business in accordance with tho law, or that tho affairs of such foreign corporation, association or society are in an unsound condition: Provided, that, upon tho revocation of said license, said auditor shall causo a notice thereof to be mailed to tho homo offico of such foreign corporation, association or society, and to bo published in at least one newspaper published in tho city of Indianapolis : And provided further, that after tho publication of such notice it shall bo unlawful for any agent of such foreign corporation, association or society to receive further stock deposits from members residing in this state, except payments on stock on which a loan has been made. Sec. 5. Tho deposit made with the auditor shall bo held as security for all. claims of residents of this stato against said foreign corporation, association or society, and shall bo liablo for all judgments or decrees thereon. Such foreign corporation, asso- ciation or society may collect and use tho interest on any security so deposited, as required by section thrco (3) of this act, so long as it fulfils its obligations and com- plies with tho provisions of this act. It may also exchange them for other securities of equal value aud satisfactory to the auditor. All securities of cash deposited with the auditor shall bo immediately deposited by him with tho treasurer of stato, who, with his sureties, shall bo responsible for tho safe keeping thereof. The treasurer shall deliver such securities only npon written order of the auditor. Srx. G. Every agent or person engaged, directly or indirectly, in soliciting sub- scriptions to the capital stock of any such foreign corporation, association or society 532 REPORT OF THE COMMISSIONER OF LABOR. shall first procure from tho auditor of state a certificate showing the appointment of such person as such agent of said foreign corporation, association or society, to which certificate tho auditor of state shall attach a certified copy of tho statement of condition of such foreign corporation, association or society. It shall be unlaw- ful for such auditor to issue such certificate except upon the filing in his office of a written appointment under the hand of the president and secretary of said foreign corporation, association or society, attested by its corporate seal. Such certificate shall be renewed annually in the month of July of each year. Sec. 7. The auditor of state shall examine, or cause to be examined, under the provisions of this act, whenever in his judgment it maybe necessary for the interests of tho shareholders or stockholders of said foreign corporation, association or society residing in this state, every detail of the business of any said foreign cor- poration, association or society transacting business in this state. Said examination shall bo made at tho expense of the foreign corporation, association or society exam- ined, and consent to make such examination shall be filed before any certificate authorizing such foreign corporation, association or society shall be granted by said auditor of state. Sec. 8. Every such foreign corporation, association or society authorized to trans- act business in this state shall on tho first day of July in each year file a report under the oath of its president or secretary, and which shall be certified to by at least threo directors, showing the gross amount of assessments, dues, fines, member- ship foes and all moneys collected by said foreign corporation, association or society from shareholders cr stockholders residing in this state during the previous year. Such statement shall also show the amount of money loaned by said foreign corpo- ration, association or society to any of its shareholders or stockholders residing in this state during the previous year. And such foreign corporation, association or society shall pay to tho auditor of state, to be by him paid into tho treasury of the state, the sum of threo dollars ($3) ou every one hundred dollars ($100) received by such foreign corporation, association or society from the shareholders or stock- holders residing iu this state, less the amount actually loaned to the shareholders or stockholders of such foreign corporation, association or society residing in the state. Sec. 9. Every such foreign corporation, associatiou or society shall, in addition to tho report required by section eight (8) of this act, on the first day of July of each year file with tho auditor of state a detailed statement showing separately the amount of membership fees, dues, interest, premium, fines, forfeitures, assessments, expense fund, receipts and all other moneys received by it, together with a full showing of amounts paid on loans, withdrawals, losses, salaries, and all other expenses, dividends, interest or any other expenditures; and it shall further show tho amount of tho assets of said foreign corporation, association or society, the character of such assets, the fair cash value thereof, together with the nature and fair cash value of all securities of such foreign corporation, association or society ; and it shall also show the liabilities of such foreign corporation, association or society, and tho character of such liabilities; the par value and the amount of dues or assessments chargeable on each share of stock issued by such foreign corporation, association or society ; the proportion of such dues or assessments credited to the loan fund, expense fund or other fund; when such assessments or dues are payable; tho amount of premium and interest charged on loans made by such foreign corpora- tion, association or society; tho rate and amount of interest paid on debenture, paid-up or other stock issued by such foreign corporation, association or society, and such other information concerning the business of such foreign corporation, association or society as may from time to time bo required by tho auditor of state. Sec. 10. The auditor of state shall charge and colloct from such foreign corpora- tion, association or society, for filing the statements and other papers and issuing the certificates required to be filed and issued by this act tho same fees as are charged CHAPTER VI. — GENERAL LEGISLATION — INDIANA. 533 and collected from insurance companies doing business in this state, and are char- tered and incorporated under tho laws of the state in which such foreign corpora- tion, association or society is incorporated. S::c. 11. The auditor of state shall causo to he printed once iu the two papers hav- ing tho largest general circulation published in the city of Indianapolis the annual statements of such foreign corporation, association or society required to he filed in his office by section nine (9) of this act. The cost of such publication shall be paid by such foreign corporation, association or society. Sue. 12. Any person or persons who, either directly or indirectly, shall solicit sub- scriptions to tho capital stock of any such foreign corporation, association or society, or act as agent for any such foreign corporation, association or society, without first procming tho certificate required iu section six (6) of this act, shall be deemed guilty of a misdemeanor, and upon conviction thereof shall he fined in any sum not exceeding five hundred dollars ($500), to which may be added imprisonment in the county j-ail not exceeding thirty (30) days. Sec. 13. Immediately upon taking effect of this act every corporation, association or society organized under the laws of the state of Indiana, and conducting the business of a building, loan fund, savings or investment association, shall file with tho auditor of state a statement of the condition at tho close of its last fiscal year, which statement shall contain the same matter required in the statement provided for by section one (1) of this act; and thereafter such corporation, association or society shall iu the month of July of each year file iu tho office of the auditor of state a statement of its condition at the close of business on tho 30th of June pre- ceding. Such statement shall be under tho oath of tho president and secretary and ' at least three directors of such corporation, association or society, and such state- ment shall contain the information prescribed in section nine (9) of this act, and snuh other matter as may be prescribed by the auditor of state. And every such corporation, association or society shall file in the office of the auditor of state copies of its bylaws and rules, and copies of each of the several kinds of certifi- cates, the certificates issued to its shareholders or stockholders. For filing each of such statements and tho services pertaining to the examination thereof tho auditor of state shall charge and collect from each of said corporations, associations or societies a fee of five dollars ($5). And out of the fees so derived lie shall pay all additional clerk hire which may bo nece'ssitated by the passage of this act, and, except for such clerk hire, the disposition of fees paid into the office of the auditor of state under this act shall be governed by the provisions of section 18 of the fee and salary act of March 9, 1891. Sec. 11. If it appears from any such statement that any such corporation, asso- ciation or society, organized under the laws of this state, is doing an illegal or unsafe business, tho auditor of state may make or cause to be made under the pro- visions of this act, an examination into the affairs of such corporation, association or society; or when upon petition of any shareholder or shareholders, setting forth that such petitioner or petitioners believo said corporation, association or society to be conducting its business contrary to law, or that its affairs are in an unsound con- dition or that they believe auy of its statements are not correct, then said auditor of state shall make, or cause to he made, an examination into tho affairs of such cor- poration, association or society: Provided, that any such shareholder or sharehold- ers beforo such auditor shall make such examination, shall file with such auditor a bond to his approval, conditioned if such examination shall disclose that such cor- poration, association or society so examined is doing a lawful business, then such shareholder or shareholders will pay all costs of such examination as aro' hereafter provided for iu this section. Such examination shall be full aud complete, and in making tho same the examiner may put any officer of any such corporation, associa- tion or society, or any other person, under oath to answer truthfully any questions that may be asked them; and all the books, papers and records of such corporation, 534 REPORT OF THE COMMISSIONER OF LABOR. association or society, and all securities held by it, shall he subject to his inspec- tion. Said auditor, or the deputy inspector, shall be entitled to five dollars ($5) per day for each day occupied in makiDg such examination, and necessary expenses, to he paid by such corporation, association or society, which sum or sums so paid shall be used by him in paying the salary of the deputy building association inspector, as provided for in section 20 of this act, and before such deputy inspector shall reeeivo any pay for such examination he shall file with the auditor of state an itemized statement of his expenses, which statement shall be sworn to by such deputy inspector. Sec. 15. Should the auditor of state, or the inspector appointed by him, find any such corporation, association or society conducting its business, in whole or in part, contrary to law, or failing to comply with the law, he shall so notify the board of directors of such corporation, association or society in writing, and if, after thirty days, such illegal practice or failure continue, he shall report the facts to the attor- ney general, who shall cause proceedings to bo begun in the proper court to revoke the charter of such corporation, association or society. Sec. 16. Should the auditor of state, or the inspector appointed by him, find, upon examination, that tho affairs of any such corporation, association or society are in an unsound condition, and that 1ho interests of tho public demand tho dissolution of such corporation, association or society and the winding up of its business, he shall so report to tho attorney genera], who shall institute the proper proceedings for that purpose. Sec. 17. Tho president and secretary of any such corporation, association or society failing to mako and filo the reports required by this act within thirty days after tho _ same are due shall be deemed guilty of a misdemeanor, and, upon conviction thereof, shall bo lined in any sum not exceeding one hundred dollars ($100). Upon failurc.to file such report it shall bo tho duty of tho auditor of state to notify the president and secretary of such corporation, association or society of such failure, and if such report is not filed within thirty days from the date of such notice, then it shall be the duty of tho auditor to examine such corporation, association or society, as pro- vided in section fourteen (14) of this act. Sec. 18. The refusal of any such corporation, association or society to permit the examination of its affairs authorized by this act shall be sufficient cause for institu- tion of proceedings to wind up its affairs, as provided in section sixteen (16) of this act. Sec. 19. Tho auditor of state shall annually compile tho reports of such corpora- tions, associations or societies required to bo filed in his office, and publish the same in his annual report to tho governor and general assembly. Sec. 20. To enable the auditor of state to fully carry into effect the provisions of this act, thero is hereby created in the office of tho auditor of state a building and loan association department, and tho auditor of state shall he ex officio building associ- ation inspector, and charged with tho execution of the laws of this state relating to building, loan fund, savings or investment associations. He is hereby authorized to employ an additional clerk in his office, to hoknownasthedeputybuildingassociation inspector. IOWA. McOLAIN'S ANNOTATED STATUTES OF 1880, EDITION OF 1884. (Page 196.) Section 1 (of chapter 163, sixteenth general assembly). The shares of stock of mutual loan and building associations shall bo assessed at their cash value, but only tho unredeemed shares of such stock shall bo taxed and such unredeemed shares shall be listed to the individual owners thereof. CHAPTER VI. — GENERAL LEGISLATION — KANSAS. 535 Title IX, Chapter 6. Section 1184. Any number of persons, not less than five, may associate them- selves and become incorporated as provided in chapter one of this title, for the pur- pose of raising moneys to bo loaned to the members of the corporation, and to other persons, and for use in buying lots or houses, or in building or repairing houses or other purposes. Sec. 1185. Such corporation shall- be authorized and empowered to levy, assess, and collect from its members such sums of money, by rates of stated dues, fines, interest on loans advanced, and premiums bid by members for the right of prece- dence in taking loans, as the corporation by its bylaws shall adopt; also to acquire, hold, encumber, and convey all such real estate and personal property as may be legitimately pledged to it on such loans, or may otherwise be transferred to it in duo course of its business ; and the dues, fine6, and premiums so paid by members, in addition to the legal rate of interest on loans taken by them, shall not bo construed to make the loans so taken usurious; but no person shall hold more than twenty shares in any such association. Sbc. 1186. When mutual loan societies, or other associations heretofore organized under the laws of this state, with objects similar to those contemplated in the pre- ceding sections, and permitting not more than twenty shares of their stock to be owned by any one member, have loaned, or shall hereafter loan, their capital or funds, or any part thereof, to their members, and have taken, or shall take, notes or obligations therefor, secured by mortgages, or otherwise, in accordance with the terms of their articles of incorporation and bylaws, such notes, obligations, and securities shall not bo construed or held to be usurious by reason of any dues, fines, or premiums for the right of preference in taking such loans paid in addition to the legal rate of interest, but tho same shall be valid and binding in all respects, the payment of such dues, fines, or premiums in addition to a rato of interest not exceeding ten per centum per annum, payable annually, or at any less period, not- withstanding. Sec. 1187. So much of tho earnings of such corporations us may bo necessary, not exceeding ten per cent per annum, may be set apart to defray the current expenses of said association, and for the purchase of such real estate as may be necessary for the convenient transaction of its business, and the residue of said earnings shall be transferred to the credit of tho shareholders, and when said shares are fully paid, then to be paid ratably to the shareholders. KANSAS. GENERAL STATUTES OF 1889. Paragraph 1155. Private corporations may bo created by the volun^ry associa- tion of five or more persons for the purposes and in the manner mentioned in the following sections of this article and amendments thereto. Every member or stock- holder in said corporation shall vote in person or by proxy. Pah. 1156. The purposes for whieh private corporations may be formed arc : * ' * * The accumulation and loan of iuuds, tho erection of buildings, and the purchaso and sale of real estate for the benefit of its members. * * * Pai;. 1424. Premiums bid for priority of loan in building and saving or trust associations organized under tho corporation laws of this state, by tho members of such associations, shall not bo deemed as usury, or Bubject to the provisions of sec- tions three (3) and four (4) of an act regulating the interest of money, chapter 51 of General Statutes of 1868, and all such premiums incorporated in the notes given by the members of the associations, and all the fines assessed against its members in accordance with the bylaws of sneh associations, may be collected by civil action before any court having jurisdiction. 536 REPORT OP THE COMMISSIONER OP LABOR. Par. 1425. All corporations heretofore incorporated under the laws of the state of Kansas, for the purpose of accumulating and loaning funds to members, or that have been so accumulating and loaning funds to members, are hereby recognized and confirmed as legal and valid corporations from the date of their incorporation orthe time they commence to accumulate and loan to members; and all contracts made between them and their members, all loans made at -whatsoever premium, discount or interest, and all securities taken for such loans, are hereby declared legal, valid and binding on all parties concerned or affected thereby, or having notice thereof. Par. 1426. All associations organized under the general corporation laws of this state for the purpose of accumulation and loan of funds, the erection of buildings, and the purchase and sale of real estate for the mutual benefit of their members, shall be permitted to conduct such business with its members exclusively, and may receive money in payment for its shares of stock in such manner and upon such terms as are prescribed by its bylaws ; may receivo money on loan or on deposit, and may lend money to its members on the security of United States bonds or bonds of the state of Kansas, the stock of such association, or real estate, which loans shall be repaid in such stated periodical instalments as are prescribed in the bylaws, and all contracts between such associations and their members shall he deemed valid and binding in law : Provided, that the sum of all the repayments agreed to be made by the borrower, for the whole time for which he receives his loan, shall not exceed the actual amount of money borrowed, with interest thereon at twelve per cent per annum for the whole time for which it was so borrowed. Par. 1427. Whenever, by reason of default in payment of loans or dues by mem- bers of such association, it becomes necessary, according to the bylaws, to bring suit or [on] any mortgage for the purpose of collecting such loans or dues, no greater sum shall be recovered than that actually due at the time of judgment, and the amount so due may be ascertained by adding to the sum of arrears the present value of all future instalments discounted at the rates j>er cent, and according to the times and periods of payments established by the bylaws, not inconsistent with section one of this act. And whenever, by the constitution or bylaws of any such association, loans shall be made, or have heretofore been made, to its members by the share, for premiums, the amount for which judgment shall be rendered shall not be greater than the actual amount of money loaned, with interest to time of judg- ment at twelve per cent per annum, and all unpaid fines lawfully assessed .against the borrower for non-payment under such bylaws, not exceeding two per cent per month, less the amount paid in on such shares, with like interest from the time of saul payment or payments. Par. 1428. Every such corporation, before commencing business under its charter, shall file a copy of its bylaws with the secretary of state, and shall likewise so file copies of all subsequent changes of such bylaws ; and all such associations now doing business shall immediately file copies of their bylaws with the secretary of state, and shall also so file all subsequent changes thereof. A majority of the stock- holders present at any organized meeting may adopt, alter or change the constitu- tion or bylaws, or transact any other business. Par. 1429. Any building and loan association organized under the corporation laws of this state for the purpose of the accumulation and loan of funds, the erec- tion of buildings, and the purchase and sale of real estate for the mutual benefit of its members, is hereby authorized and empowered to reorganize as a savings bank, aud to do business as sneh. Par. 1430. Before any such association can reorganize under the provisions of this act, there shall be presented to the board of directors of such association a petition signed by two-thirds of the members thereof, praying for such reorganiza- tion. Whereupon it shall be tho duty of such board of directors, within thirty days from tho time of presenting the petition, to file with the secretary of state an addi- tional charter, sotting forth that they havo reorganized under this act, which shall be acknowledged and certified as provided by law for obtaining charters. CHAPTER VI. GENERAL LEGISLATION — KENTUCKY. 537 Par. 1431. All fTTlly paid-up permanent shares in such building and loan association shall be exchanged for paid-up stock to the same amount in such savings bank or reorganized corporation, and all accumulating shares shall bo exchanged for investment certificates, to be issued by said bank, bearing the same payments and penalties, the same rate of interest, the same ratio of participation in profits, and payment on -withdrawal or at maturity, as attached to the same by the constitution and bylaws of such association before its reorganization. Par. 1432. All contracts heretofore made with any such building, loan or savings association, may be enforced by action in the name of such new or reorganized cor- poration, and all liens, causes of action, aro hereby saved and preserved to such cor- poration as fully as if this act had not been passed. KENTUCKY. ACTS OF 1891-'92-'93. Chapter 171. Section 248. Any number of persons, not less than nine, may associate for the purpose of forming a corporation to accumulate the savings of its members, paid into such corporation in fixed periodical instalments, and lending to its members the funds so accumulated. Sec. 249. Such corporation may be organized in the manner provided in section two, article one [general provisions concerning corporations], of this chapter, except that the limit of the capital, in place of the amount of capital, shall be given, and when a copy thereof is filed in the office of the secretary of state, and filed and recorded in the county clerk's office of the county where its principal place of businesses located, the incorporators shall thereupon become a body politic, and be invested, subject to the provisions of this article, with all tho powers and privileges, liabilities and restrictions, granted to or imposed upon corporations gen- erally under the first article of this chapter. Sec. 250. The name assumed by suck corporation shall not bo so nearly alike that of any other similar corporation as to deceive tho public,, and the words "building association" shall form a part of the name. Sec. 251. The par value of the shares shall not exceed five million dollars, and shall be divided into shares of the ultimate value fixed by the bylaws. Tho shares may bo issued in monthly, half-yearly or yearly series, in such amounts and at such times as the members may determine. No person shall hold, in an association hav T ing an authorized capital stock of one hundred thousand dollars or less, exceeding , an amount equal to two and a half (2|) per cent of tho whole number of shares ; in those having an authorized capital exceeding one hundred thousand dollars, and not exceeding five hundred thousand dollars, two (2) per cent; in those having an authorized capital of five hundred thousand dollars, and not exceeding one million dollars, one and a half per cent, and in those having an authorized capital of one million dollars, or in excess thereof, one (1) per cent of the whole number of shares therein ; and no shares of a prior series shall be issued after tho issue of a new series; and an association may issue full paid stock to its members, or issue to its members stock restricted to a less rate of profit than that of its regular stock; but certificates of such stock shall state on their face this restricted rate of profit, and no association shall create a debt exceeding twenty (20) per cent of its paid-up capital. Sec. 252. The number, title, duties and compensation of the officers of the corpo- ration, their term of office, the times of their election, as well as the qualifica- tions of the electors, and the time of each periodical meeting of the officers and members, shall be determined by the bylaws; all officers shall continue in office until their successors are duly elected and qualified. 538 KEPOKT OF THE COMMISSIONER OF LABOR. Sec. 253. The officers shall hold stated meetings as prescribed in the bylaws. At such times as may ho prescribed by the bylaws every member shall pay to the corpo- ration, as a contribution to its capita], such sum as dues upon each share of instal- ment stock held by him as the bylaws may prescribe, until the share reaches the ultimate value fixed by the bylaws, or is withdrawn, cancelled or forfeited. Pay- ment of dues on each series shall commence from its issue. Sec. 254. A member may withdraw his unpledged shares at any time by giving thirty days' notice of his desire to do so in a book to be provided by the corporation fortho purpose, and shall thereupon receive the withdrawing value of his shares at the date of the notice, and this withdrawing value shall be the amount of the dues paid thereon, together with such proportion of the profits as tho bylaws may deter- mine, less all fines, expenses and proportionate part of any unadjusted loss ; but at no time shall moro than one-half of the funds in tho treasury be applicable, without tho consent of the directors, to the demands of the withdrawing members. The directors may, in their discretion and pursuant to the bylaws, retire the unpledged shares of any series, and enforco their withdrawal at any time after three years from the dato of their issue. Tho shareholders whose shares are to bo so retired shall bo determined by lot, under such regulations as the directors may prescribe. The withdrawing value of such shares shall be tho amount of dues paid thereon, together with tho profits apportioned to such shares, according to the next preceding adjustment and valuation of shares, less all fines, expenses and proportionate part of any unadjusted loss. Sec. 255. Whenever there shall remain in any series, at tho expiration of five years after tho date of its issue, an excess above one hundred unpledged shares, tho direc- tors may retire annually twenty-five per centum of such excess existing at said expi- ration of fivo years after tho date of its issue; but when the withdrawal of shares is to bo enforced, tho shares to be retired shall bo determined by lot, and tho holders thereof shall be paid tho full value of their shares, less fines and a proportionate part of any unadjusted loss; aud shares pledged for share loans shall bo treated as unpledged shares. But this section shall not apply to associations maturing their shares in less than six years. Sec. 256. When each unpledged share in a giveu series reaches the value fixed by the bylaws, all payment of dues thereon shall coase, and the holder thereof shall be paid out of tho funds of the corporation the value fixed by tho bylaws, with inter- est at tho rate of six per cent a year from the time of such maturity to the time of payment; but at no time shall moro than one-half of tho funds in the treasury be applicable to tho payment of such matured shares without tho consent of tho direc- tors; and when any series of shares, either pledged or unpledged, reaches maturity between the dates of adjustment of profits, or whenever shares arc retired between such dates, the holders of such shares shall, in additicn to the value thereof, be entitled to interest at tho same rate for all full mouths from the date of the preced- ing adjustment. Sec. 257. Tho moneys accumulated, after duo allowance made for all necessary and proper expenses, and for the withdrawal of shares, shall, at each monthly or weekly meeting, bo offered to the members according to their priority of right to a loan as fixed by tho bylaws. Each member whose bid is accepted shall be entitled, upon giving proper security and complying with tho bylaws, to receivo a loan equal to the par value of each share held by birr., or such fractional part thereof as the bylaws allow. If a balance of money romains after the monthly loans, the directors may invest the same in good and safe bonds or real ostate securities. Sec. 258. A borrowing member for each sharo borrowed upon shall, in addition to his dues and monthly or weekly premium, pay monthly or weekly interest on his loan at the rate of six per cent per annum, and the interest aud premium shall not exceed twelve (12) per cent per annum, until his shares reach the value fixed by tho bylaws, or the loan has been repaid ; and when said ultimate valuo is reached said CHAPTER VI. GENERAL LEGISLATION KENTUCKY. 539 loan and shares shall bo declared cancelled and satisfied, and the balance, if any, due upon the shares shall be paid to the member. Sec. 259. For every loan made a note secured by first mortgage on real estate shall he given, accompanied by a transfer and pledge of the shares of the borrower. The shares so pledged shall bo held by the corporation as collateral security for the per- formance of the conditions of said note and mortgage. The note and mortgage shall recite tho number of shares pledged and the amount of money advanced thereon, and shall bo conditioned for the payment at the stated meetings of the corporation, or on some day of each month or week, of the monthly or weekly dues on said shares, and the interest and premium upon tho loan, together with all fines upon payments in arrears, until said shares shall reach tho value fixed Uy the bylaws, or said loan is otherwise cancelled and discharged. The shares without other security may, in the discretion of the directors, bo pledged as security for loans to an amount not exceed- ing eighty per centum of their value as adjusted at tho last adjustment and valua- tion of shares before the time of tho loan. If tho borrower neglects to offer security satisfactory to the directors within the time prescribed by tho bylaws, his right to tho loan shall be forfeited, and ho may bo charged with ono month's interest and one mouth's premium at tho rato bid by him, together with all expenses, if any, incurred; and the money appropriated for such loan may bo reloaned at tho next or any sub- sequent meeting. Sec. 260. A borrower may repay a loan at any time upon application to the corpo- ration, in even shares, whereupon, on settlement of his account, ho shall bo charged with the full amount cf tho original loan, together with all instalments of interest, dues, premiums and fines in arrears, and shall bo given credit for the withdrawing value of his shares pledged and transferred as security, and the balance shall be received by tho corporation in full satisfaction of said loan. All settlements made at periods intervening between stated meetings of tho directors shall be made as of the date of the stated meeting next succeeding such settlement; and a borrower, desiring to retain his shares and membership, may, at his option, repay his loan without claiming credit foT said shares, whereupon said shares shall bo transferred to him, and shall bo free from any claim by reason of said cancelled loan. Sec. 261. Members who make default in tho payment of their monthly or weekly dues, interest or premium, shall bo charged a fine not exceeding twenty-five cents per share a month on each share in arrears. No fine shall bo charged after the expira- tion of six months from tho first lapse in any such payment, nor upon fines in arrears. The shares of a member who continues in arrears more than six months shall,, at the option of tho directors, if tho member fails to pay tho arrears within thirty days after notice, bo declared forfeited, aud tho withdrawing valuo of the shares at the time of the first default shall bo ascertained, aud, after deducting all fines and other legal charges, the balance remaining shall be placed to an account to bo designated the " forfeited sharo account " to the credit of the defaulting member ; said member, if not a borrower, shall bo entitled, upon thirty days' notice, to receive the balance so transferred, without interest, from the time of tho transfer, in his order of the turn, out of tho funds appropriated to the payment of withdrawals. All shares so forfeited or transferred shall ceaso to participate iu any profits of the corporation accruing after the last adjustment and valuation of shares before said default. Sec. 262. If a borrowing member has been in default for six months, the amount to bo credited to his shares under the preceding section shall be applied as a pay- ment upon tho loan, and tho balance, with interest and premium thereon, from the time of first default, shall bo enforced against tho security. The shares, tho value of which has been so applied in payment, shall revert to the corporation, and be held by it free from all interest, claim, or demand on the part of the borrower or any per- son claiming under him. SEC. 263. The profits and losses may bo distributed annually, semi-annually, or quarterly to the shares then existing, but shall be distributed at least once in each 540 REPORT OF THE COMMISSIONER OF LABOR. year. The profits and losses shall ho distributed to such shares in proportion to their value at that time, and shall bo computed upon a basis of a single share fully- paid to the date of distribution. Losses shall be apportioned immediately after their occurrence. Sec. 264. Any such corporation may purchase at any sale, public or private, any real estate upon which it may havo a mortgage, lien or judgment or in which it may have an interest, and may dispose of the same at pleasure, but within five years after it has acquired title thereto. Sec. 256 [265]. It shall he lawful for any minor above the age of fourteen, or a married woman, to take and hold shares in such corporation, and for such corpora- tion to pay to any minor any money that may he due him in respect to any share, and his receipt therefor shall be valid; but no minor shall be eligible to hold any pffice in such corporation. Sec. 266. It shall be the duty of every corporation formed under this law to print and publish in pamphlet form the whole of this law and its articles of incorpora- tion and bylaws, and any amendments thereto or alterations thereof, and to sell the same to those who may wish them ; and it shall also keep in a book, subject to inspec- tion, iu its office, during business hours, a copy of this law, its articles of incor- poration, bylaws and any amendments thereto or alterations thereof. Sec. 267. All corporations formed under this or any other law, and. transacting in this state a business similar to that authorized to be done by this law, shall he under the supervision of the secretary of state. The president, manager or secretary thereof shall, on or before the first day of February in each year, return to said sec- retary of state a report, signed and sworn to by the president or manager and secre- tary, and attested by at least two directors, showing the amount of paid-up capital, and amount of all cash receipts and disbursements for the year ending the thirty- first day of December next previous thereto, and such other facts as the secretary of state may require; and each corporation, officer, agent or manager, failing or refus- ing to make said report or to furnish any information called for by the secretary of state, under oath and attestation of its officers as required, shall be severally guilty of a misdemeanor, and fined not less than one hundred nor more than one thousand dollars for each offence. And every foreign corporation shall, before, it transacts or solicits any business iu this state, obtain from the secretary of state a certificate authorizing it to carry on and solicit business in this state, which certificate the secretary of state shall grant, upon satisfactory information furnished to him under oath that the corporation is solvent and properly managed ; and if any corporation, by its agents or officers, solicit or transact any business in this state without first obtaining such certificate, such corporation, and eacli agent thereof who solicits or transacts for it any business in this state, shall be liable to the penalty provided in this section. Sec. 268. Whenever the secretary of state shall have reason to believe that any corporation organized under the laws of this state is violating the provisions of this law or the law under which it was created, or is being operated in a manner preju- dicial to the interest of the creditors or members of such corporation, he shall lay such information before'the attorney general, and such action and proceedings may be taken as are authorized to be taken in cases of insurance companies that are insolvent or are violating the law. Sec. 269. Whenever any foreign corporation shall refuse or fail to pay the taxes assessed against it, or to pay the fees exacted, or to make the required report, or when, in tho judgment of the secretary of state and the attorney general, its busi- ness in this state is conducted in violation of law, or it is insolvent, it shall be the duty of the secretary of state to cause notice of such fact to be published in some newspaper of general circulation in this state, and such company shall cease to do business in this state; and if, thereafter, any agent or servant of such company shall transact or solicit any business for such company in- this state, he shall for each offence be fined not less than fifty nor more than one hundred dollars. CHAPTER VI. GENERAL LEGISLATION — LOUISIANA. 541 Sec. 270. Each agent or solicitor, or person who acts as such agent or solicitor, for any foreign corporation or association doing business in this state similar to that authorized by this law, shall, before transacting any business as such agent or solic- itor, obtain from the secretary of state license to act as such agent or solicitor, which license shall be in force for one year from its issual, and shall be renewed annually; and the secretary of state may, with the advice of the attorney general, decline to issue or renew any license, if he has reason to believe that the corporation or asso- ciation for which such person is agent or solicitor is insolvent or is conducting its business in violation of law ; and any person who shall act as agent or solicitor for any corporation without having obtained license so to do shall be fined not less than fifty nor more than one hundred dollars. Sec. 271. For each license issued to an agent, and for each certificate to do busi- ness in this stato, there shall be paid to the secretary of state twenty-five (25) dol- lars. For each annual report there shall be paid to the secretary of state, by the corporation or association making the same, ten (10) dollars. Sec. 272. All fees collected by the secretary of state under this articlo shall be cov- ered by him as soon as collected into the state treasury, and so much thereof as may be necessary to defray the expenses incurred in the discharge of the duties imposed upon the secretary of state, by virtue of any of the provisions of this act, shall be paid upon the warrant of the auditor to the secretary of state. The secretary of state shall report to each session of the general assembly a statement of the amount received from licenses, fees or penalties under this act, and the amount expended by him, and he shall be allowed for his services under this act the sum of one thousand dollars, to be paid to him in monthly instalments upon the warrant of the auditor. Sec. 273. All general laws relating to the matters treated of in this chapter shall ' stand repealed when this act takes effect ; and it appearing that necessary amend- ments to many existing charters can not now be obtained, and that many necessary corporations can not, until this act takes effect, be organized, and that the interest of. corporations and persons doing business with them require it, it is enacted that this act shall take effect from and after its passage. LOUISIANA. ACTS OF 1888. Act No. 115. Sectiox 1. The capital stock of all building or homestead associations, societies or companies, such as are now organized and carried on in this state, both those which have been already incorporated and those which may hereafter bo incorporated, under the laws of this state, providing for the organization of corporations for works of public improvement, etc., may be divided into shares and may bo payable in instalments as may be provided in the respective charters of such associations; Provided that no such association shall carry on business in this state until, at least, the sum of twenty thousand dollars shall have been subscribed to its capital stock, and that the instalments upon such stock shall amount to, at least, twenty-five cents a share a month; And provided further, that every such association now carry- ing on business with a capital stock of less than twenty thousand dollars shall be permitted to increase its capital stock to said amount, as provided by existing laws. Sec. 2. The secretary and treasurer of every such association or the officers acting as such, shall each file in the office of the recorder of mortgages, in the parish where said association is domiciled, a bond with good and solvent surety or sureties for a sum to be fixed by resolution, of tho board of directors, provided it be not less than one thousand dollars, such bonds to secure tho faithful discharga of tho duties of such secretary and of such treasurer; that the surety or sureties upon such bonds shall not be deemed sufficient, unless they shall be accepted and approved by the 542 REPORT OF THE COMMISSIONER OF LABOR. board of directors of such associations arid by the judge, or one of the judges, of the district court of the parish in which such association may be domiciled, and that said bonds shall bo made in favor of the association to which said officers belong, and shall enuro to the benefit as well of such association as of any shareholder thereof, or person interested therein, who may be damaged or injured, or may surfer any loss by reason of such officers failing to perform the duties incumbent upon them, or performing such duties improperly. Sec. 3. There shallbe held annually a general meeting of the shareholders of every such association, and, at said meeting, the board of directors, through the secretary or other officer whom they may designate, shall make to the shareholders a full and complete statement, detailing and setting forth all the assets and liabilities of such association, and all its transactions during the previous year. Sec. 4. It shall be lawful for such associations to purchase from any shareholder, or other person, any real estate, improved or unimproved, and to sell the same, either in the same condition or after improving, repairing or building upon the same, to any shareholder or other person ; Provided, that such associations may make sales of property, real and personal, either for cash or on terms of credit; that such associa- tions shall have power to improve, repair and bnild upon real estate, and to make all contracts and do all acts and things neeessary and proper in connection there- with; that in case any such association shall purchase property from any person, and shall afterwards sell the same property to the same person, then sueh associa- tion shall have the vendor's lien and privilege upon the property so sold, for the security of the payment of the money due by such person; that such associations arc authorized and empowered to contract and agree with any person to purchase from such person any property, and afterwards to sell the same property to the same person, oven though said agreement be made at one and the same time; and such' contract and arrangements shall not be considered or dealt with as a loan, but as a sale to tho association, and then a resale by the association, to the person from whom the association acquired it; and such association to secure a payment of tho amonnt due by such person, shall have all the rights, privileges and securities which are now accorded by law to the vendor of property. Sec. 5. It shall be lawful and competent for any shareholder of such associations, when making a contract with such, association, to pledge the instalments upon his stock in such association already paid in at the time of making such contract, and those to be paid in after the date of such contract, as security for any debt due by him to said association, and a declaration of such pledge in an authentic act shall create and constitute a full, valid and complete pledge; and tho fact of such pledge shall be stampod on the face of the certificate of the stock so pledged. Act No. 151. Section 1. Tho terms "public utility and advantage," in the Revised Statutes, section (683) six hundred and eighty-three [providing for the formation of corpora- tions of public utility and advantage], and in all laws amondatory thereof, be held to include in their meaning the objects aud purposes of bomestead, or building associations, societies and companies as now established in tbis state. MAINE. REVISED STATUTES OF 1883. Chapter 47. Section 132. Loan and building associations may be organized in the manner provided herein, for tho organization of savings banks, and trust and loan associa- tions; and upon tho filing of any certificate of authorization of a loan and building association with the secretary of state, as so provided, tho persons therein named, CHAPTER VI. — GENERAL LEGISLATION MAINE. 543 their associates, successors and assigns, sliall, thereupon and thereby, he constituted a body corporate and politic, and such body may make and use a common sea], hold, manage and convoy real and personal property, sue and be sued, prosecute and defend suits in law or in equity, have perpetual succession each by its corporate name, and make and ordain bylaws for its government, not repugnant to the consti- tution and laws. Sec. 133. The certiQcato of authorization issued by the bank examiner, shall pro- Tide the method of calling the first meeting of the association. Each association shall pay said examiner five dollars for his services in advanee. Sec. 134, (as amended by chapter 61, public laws of 1887). The capital to he accumulated shall not exceed one million dollars, and shall be divided into shares of the ultimate value of two hundred dollars each. The shares may be issued in quar- terly, half-yearly or yearly scries, in such amounts and at euch times as tho members may determine. No person shall hold more than twenty-five shares in tho capital of any ono such association. No shares of a prior series shall be issued after the issue of a new scries. Sec. 135, (as amended by chapter 61, public laws of 1887). The number, title, duties and compensation of tho officers of the association, their terms of office, the time of their election, as well as tho qualifications of electors, and time of each periodi- cal meeting of tho officers and members shall be determined by tho bylaws, but no member shall bo entitled to more than ono vote. All officers shall continuo in office until their successors are duly elected, and no association shall expire from neglect on its part to elect officers at the time prescribed by the bylaws. Sec. 136, (as amended by chapter 61, public laws of 1887). Tho officers shall hold stated monthly meetings. At or before each of these meetings, every member shall pay to the association, as a contribution to its capital, ono dollar, as dues upon each share held by him, until the share roaches tho ultimate value of two hundred dol- lars, or is withdrawn, cancelled or forfeited. Payment of dues on each series shall commence from its issue. Sec. 137, (as amended by chapter 61, public laws of 1887). Shares may be with- drawn after ono month's notice of such intention, written in a, book held and pro- vided by the association for tho purpose. Upon such withdrawal, tho shareholder's account shall be settled as follows; from the amount then standing to tho credit of tho shares to be withdrawn, there shall be deducted all fines, a proportionate part of any unadjusted loss, together with such proportion of the profits previously credited to the shares as tho bylaws may provide, and such shareholder shall be paid the. bal- ance ; Provided, that at no timo shall more than one-half of tho f nnds in the treasury he applicable to tho demands of withdrawing members, without the consent of the directors. The directors may, at their discretion, under rules made by them, retire the unpledged shares of any series at any timo after four years from the date of their issue, by enforcing the withdrawal of the same; Provided, that the shareholders whose shares aro to bo retired shall be determined by lot, and that thoy shall be paid the full value of their shares, less all fines and a proportionate part of any unadjusted loss. Sue. 138, (as amended by chapter 61, public laws of 1887). When each unpledg-ed share of a given series reaches the value of two hundred dollars, all payments of dues thereonshall cease, and the holder thereof shall be paid out of tho funds of tho associa- tion, two hundred dollars therefor, with interest at the rate of six per cent a year, from tho timo of such maturity to tho time of payment; Provided, that at no time shall more than one-half of the fnnds in the treasury be applicable to the payment of such matured shares, without the consent of the directors, and that before paying matured shares, all arrears and fines shall be deducted. Every share shall be sub- ject to a lien for the payment of any unpaid clues, fines, interest, premiums and other charges received thereon, which may bo enforced in the manner hereinafter provided. Sec. 139, (added by chapter 61, public laws of 1887). The moneys accumulated, 544 REPORT OF THE COMMISSIONER OF LABOR. after due allowance made for all necessary and proper expenses and for the with- drawal of shares, shall, at each stated monthly meeting, be offered to the members according to the premiums bid by them for priority of right to a loan. Each mem- ber whose bid is accepted, shall be entitled, upon giving proper security, to receive a loan of two hundred dollars for each share held by him, or such fractional part of two hundred dollars as the bylaws may allow. If a balance of money remains unsold after a monthly sale, the directors may invest the same in any of the securities named in section one hundred of chapter forty-seven, Revised Statutes, providing for invest- ments of deposits of savings banks. Any association organized as aforesaid, may provide in its bylaws that the bid for loans, at its stated monthly meetings shall, instead of a premium, be a rate of annual interest upon the sum desired payable in monthly instalments. Such bids shall include the whole interest to be paid, and may be at any rate not less than five per cent per annum. Sec. 140, (added by chapter 61, public laws of 1887). Premiums for loans shall consist of a percentage charged on the amount lent in addition to interest, and shall be deemed to be a consideration paid by the borrower for the present use and possession of the future or ultimate value of his shares, and shall, together with interest and fines, be received by the association as a profit on the capital invested in the loan, and shall he distributed to the various shares and series of said capital as herein- after provided. Sec. 141, (added by chapter 61, public laws of 1887). A borrowing member, for each share borrowed upon, shall, in addition to his dues and monthly premium, pay monthly interest on his loan at the rate of six per cent per annum until his shares reach the ultimate value of two hundred dollars each, or the loan has been repaid; and when said ultimate value is reached, said shares and loan shall be declared cancelled and satisfied, and the balance, if any, due upon the shares shall be paid to the member. Sec. 142, (added by chapter 61, public laws of 1887). For every loan made, a note secured by first mortgage of real estate shall be given, accompanied by a transfer and pledge of the shares of the borrower. The share so pledged shall be held by the association as collateral security for the performance of the conditions of the note and mortgage. Said note and mortgage shall recite the number of shares pledged, and the amount of money advanced thereon, and shall be conditioned for the payment, at the stated meetings of the corporation, of the monthly dues on said shares, and the interest and premium upon the loan, together with all fines on pay- ments in arrears, until said shares reach the ultimate value of two hundred dollars each, or said loan is otherwise cancelled or discharged ; Provided, that the shares, without other security, may, in the discretion of the directors, be pledged as security for loans, to an amount not exceeding their value as adjusted at the last adjustment and valuation of shares before the time of the loan. If the borrower neglects to offer security, satisfactory to the directors, within the time prescribed by the bylaws, his right to the loan shall be forfeited, and he shall be charged with one month's interest and one month's premium at the rate bid by him, together with all expenses, if any, incurred, and the money appropriated for such loan may be reloaned at the next or any subsequent meeting. Sec. 143, (added by chapter 61, public laws of 1887). A borrower may repay a loan at any time, upon application to tlio association, whereupon, on settlement of his account, he shall bo charged with the full amount of the original loan, together with all monthly instalments of interest, premium, and fines in arrears, and shall be given credit for the withdrawing value of his shares pledged and transferred as security, and the balance shall be received by the association in full satisfaction and discharge of said loan; Provided, that all settlements made at periods interven- ing between stated meetings of the directors, shall be made as of the date of the stated meeting next succeeding such settlement; And provided, that a borrower desiring to retain his shares and membership may, at his option, repay his loan CHAPTEK VI. — GENERAL LEGISLATION — MAINE. 545 without claiming credit for Lis shares, whereupon said shares shall he retransferred to him and shall ho freo from any claim hy reason of said cancelled loan. Skc. 144, (added hy chapter 61, puhlic laws of 1887). Members who make default in the payment of their monthly dues, interest and premiums, shall ho charged a fine not exceeding two per cent a mouth on each dollar in arrears. No fines shall bo charged after the expiration of six months from tho first lapse in any such pay- ment, nor upon a fine in arrears. Tho shares of a uiemher who continues in arrears more than six months shall, at the option of the directors, if tho memher fails to pay the arrears within thirty days after notice, he declared forfeited, and the withdrawing value of the shares at the time of the first default shall he ascertained, and after deducting all fines and other legal charges, tho balance remaining shall lie trans- ferred to an account to he designated tho forfeited share account, to the credit of tho defaulting member. Said member, if not a borrower, shall he entitled, upon thirty days' notice, to receive tho balance so transferred, without interest from the time of the transfer, in the order of his turn, out of tho funds appropriated to the payment of withdrawals. All snares so forfeited or transferred shall ceaso to par- ticipate in any profits of tho association accruing after the last adjustment and valuation of shares before said default. . Skc. 145, (added by chapter 61, public Jaws of 1887). If u borrowing member is in arrears for dues, interest, premiums or fines for more than six months, tho directors may, tit their discretion, declare the shares forfeited after one month's notice, if the arrears continue unpaid. The account of such borrowing member shall then be debited, with tho arrears of interest, premiums and fines to date of forfeiture, and the shares shall be credited upon the loan at their withdrawing val.ie. The balance of the account may, and after six months shall be enforced against tho security by .any legal method, or by proceedings in equity, for sale and foreclosure, jurisdiction therefor being hereby specially given to the supremo and superior courts, to be exercised upon bill orpetition in a summary manner. The shares, the value whereof has been so applied in payment shall revert to tho corporation, and bo held by it free from all interest, claim, or demand on the part of tho borrower, or any person claiming from or under him. Skc. 146, (added by chapter 01, public laws of 1887). Upon the death of a share- holder, his legal representatives shall bo entitled to receive tho amount of unpledged shares of tho deceased, to be ascertained as provided in section one hundred and thirty-seven for u ithdrawal of shares. No fines shall bo charged, or profits credited to a deceased member's account from and after his decease, unless his legal represent- atives assume tho futuro payments on such shares, which they may assume under the same, rights and liabilities of the deceased. Moneys received for the shares of a deceased shareholder, or the shares themselves, as the case may be, shall descend to tho same persons and bo distributed in the same manner that money received from a policy of life insurance on the life of a deceased person now does by law. Sec. 147, (added by chapter 61, public laws of 1887). Tho general accounts of every such association shall be kept by double entry. All moneys received by the association from each member, shall be receipted for by persons designated by the directors in a pass book provided by tho association for the use of, and to be held by the member, and said pass book shall be plainly marked with the name and residence of the holder thereof, the number of shares held by him, and the number or designa- tion of tho scries or issuo to which said shares respectively beloug, and tho date of tho issuo of such series. All moneys so received shall bo originally entered by the proper officer in a book to be called tho ca^h book, to bo provided by the asso- ciation for tho purpose, and tho entries therein shall he so mado as to show the name of tho payer, tho number of the shares, tho number or designation of the series, or is ues of the particular sharo or shares so entered, together with the amount of dues, interest, premiums and fines paid thereon, as the case may be. Each payment shall be classified and entered in a column devoted to its kind. Said cash book shall be H. Ex. 209 35 546 EEPOET OF THE COMMISSIONER OF LABOR. closed on the last day of the mouth in which each stated meeting is held, and shall be an exhibit of the receipt of all moneys paid by shareholders during said month. "All payments mado by tho association for any purpose -whatsoever, shall be by order, check or draft upon the treasurer, signed by the president and secretary, and indorsed by tho persona in whoso favor the samo are drawn. Tho name of thepayce, the amount paid, and tho purpose, object or thing for which tho payment is made, together wiih its dale, shall be entered on tho margin of said order, cheek or draft. The treasurer shall disposo of and securo tho safe keeping of all moneys, securities and property of tho corporation, in the manner designated by tho bylaws, and the treasurer and secretary shall give such security for the faithful performance of their respedivo duties as tho bylaws may direct. Sec. 148, (added by chapter 61, public laws of 1887). The profits and losses may bo distributed annually, semi-annually or quarterly, to tho shares then existing, but shall be distributed at least onco in each year, and whenever u, new series of shares is to be issued. Profits and losses shall bo distributed to the various shares existing at the time of such distribution, in proportion to their value at that time, and shall he computed upon tho basis of a single share, fully paid to tho dato of distribution. Losses shall be apportioned immediately after their occurrence. At each periodical distribution of profits, tho directors shall reserve as a guaranty fund a sum not less than one nor more than fivo per cent of tho net profits accruing since tho next pre- ceding adjustment, until such fund amounts to five per cent of the dues capital, which fund shall thereafter bo maintained and held, and said fund shall be, at all times available to meet losses in the business of tho association from depreciation in its securities or otherwise. Sec. 149, (added by chapter61, public laws of 1887). Any association may purchase, at any sale, public or private, any real estate upon which it may have a mortgage, judg- ment, lienor other incumbrance, or in which it may have an interest, and may sell, convey, lease or mortgage at pleasure, tho real estate so purchased, to any person or persons whatsoever. All real estate so acquired shall bo sold within five years from the acquisition of title thereto. Sec. 150, (added by chapter 61, public laws of 1887). Minors may hold shares by trustees, and the shares of each shareholder, not exceeding two, shall be exempt from attachment and execution. Sec. 151, (added by chapter 61, public laws of 1887). The bank examiner shall per- form, in referenco to all loan and building associations, the same duties, and shall have the same powers as are required of, or given to him in reference to savings banks; and shall annually make report to the legislature, of such facts and statements respect- ing such associations, and in such form as ho deems that tho public interest requires. Tho officers of such associations shall answer truly all inquiries made, andshallmake all returns required by the bank examiner. PUBLIC LAWS OF 1891. Chapter 79. Section 1. Except as is hereinafter provided no person, association or corpora- tion shall carry on tho business of accumulating tho savings of its members and joaning to them such accumulations in tho manner of loan and building associations within this state, unless incorporated under the laws thereof for such purpose. Sec 2. Tho bank examiner may authorize any such association or corporation duly established under tho laws of another state to carry on such business in this state, but said association or corporation shall not transact such business in this state unless it shall first deposit with tho state treasurer, the sum of twenty-five thousand dollars and thereafter a sum equal to fifteen per cent of tho deposits mado in such association or corporation by citizens of tho state, tho amount of per- centage of deposits so required to be determined from time to time by the bank CHAPTER VI, GENERAL LEGISLATION — MAINE. 547 examiner; or iu lieu thereof the •whole or any part of said sum may consist of any of the securities in which savings banks may invest, as regulated in section one hundred of chapter forty-seven, Revised Statutes, and acts amendatory thereof, at their par value, and the said deposit shall ho held in trust by said treasurer for the protection and indemnity of the residents of the stato with whom such associations or corporations respectively have dono or may transact business. Said moneys or property shall he paid out or disposed of only on the order of some court of compe- tent jurisdiction, made on duo notice to tho attorney general of the state, and upon such notico to tho creditors and shareholders of such association or corporation as the court shall ru-escribe. For the purpose of ascertaining the business and financial condition of any such association or corporation doing or desiring to do such busi- ness, said bank examiner may make examinations of such associations or corpora- tions, at such times and at such places as said bank examiner may desire, tkoexpense of such examinations being paid by tho association or corporation examined, and may also require returns to ho made in such form and at such times as he may elect. Whenever, upon examination or otherwise, it is tho opinion of tho bank examiner that any such associatiou or corporation is transacting business in such manner as to bo hazardous to the public, or its condition is such as to render further proceed- ings by it hazardous to the public, said bank examiner shall revoke or suspend the authority given to said association or corporation; but this section shall not prevent such association, corporation or institution incorporated under laws of another state, from loaning money upon mortgages of real estato located within the state. Sec. 3. Every such person, association or corporation transacting business in the stato at tho time of the passage of this act, shall, within sixty days after such passage, conform to tho requirements of this act. Sec. 4. Whoever violates any provision of the preceding sections, shall he punished by a fine not exceeding one thousand dollars; and any provision thereof may on petition, be enforced by injunction issued by a justice of the supreme judicial court or of the superior court. Chapter 123. The office of secretary and treasurer of loan and building associations may bo held by one and the same person, provided any association so provides by its bylaws. PUBLIC LAWS OP 1893. Chaptek 274. Section 1. Every loan and building association doing business in this state shall semi-annually on tho last Saturdays of April and October, make a return signed and sworn to by its secretary of its monthly capital dues paid in by its shareholders during tho six months preceding each of said days, exclusive of withdrawals, tines, interest and premiums. Said return shall be made to tho treasurer of state on or beforo the second Mondays of May and November, and for wilfully making a false return, tho secretary forfeits not less than five hundred nor more than five thousand dollars. The treasurer of such association shall pay to the treasurer of state a tax ori account of such dues, of one-fourth of one per cent a year on the amount so returned. Sec. 2. One-half of said tax shall ho assessed on the amount so returned for the six months ending on tho las^ Saturday in April and the other half on the amount so returned for tho six months ending on the last Saturday in October; and such tax shall be paid semi-annually, within ten days after the first Mondays in June and December. Sec. 3. All capital dues of such associations are exempt from municipal taxation to the association or to the shareholder, but real estate owned by the association, not held as collateral security, may be taxed by the town in which the same is located. 548 REPORT OF THE COMMISSIONER OF L\BOR. MARYLAND. CODE (IF PUBLIC GENERAL LAWS OF 1888. Article 23. Section 14. Corporations may be formed in this state, under the provisions here- inafter set forth, by any five or more persons, citizens of the United States, and a majority of them citizens of this state, or if unnaturalized, residents of this state, mating oath that they bona fide intend to become citizens of the United States without unreasonable delay, who may desire to form a body corporate or politic, for any of the following purposes: * * * For the formation of homestead or building associations, or associations for the loan of money on real or personal property. * * * Provided, that the property- owned or acquired by such corporation is located in this state; " " ". Sec. 95. Any homestead or building association, formed under the provisions of this article, shall have' power, in its certificate of incorporation, to limit the number of shares which each stockholder may bo allowed to hold; to prcscribo the entrance fee to be paid by each stockholder at the time of subscribing ; and to regulate the instal- ments to be paid on each share — provided, the same shall not exceed the sum of one dollar \>ci share per week— and the times at which the same shall be payable. Si:c. 96. Any such corporation shall have power to enforce the payment of all instalments and other dues due to the corporatiou from the memhers'or stockholders, by such fines and forfeitures as the corporation may, from time to time, provide in the bylaws or articles of association of such corporation. Sec. 97. Any person applying for membership, or for stock in any such corpora- tion, after the end of one month from the time of incorporation, may bo required to pay, on subscribing, such bouus or assessment as may from time to timo be fixed or assessed, in such manner as may bo provided by the corporation, in order to place such new member or stockholder on a footing with the original members and others holding stock at tho timo of such application. Sec. 98. Such corporation, at any time in advance of the period of time at which it may cease to exist, according to the plan contained in tho original artbles of association, may advance to any member thereof, for such premium as may be agreed upon, the sum which ho would be entitled to receive upon the dissolution of the corporation, for any number of shares therein held; or may.purcbase from any mem- ber thereof the share, or any number of shares, of tho stock held by him, at such price or sum as, according to the articles of association, such member may agree to receive; and on payment of said sum of money, may receive from such member, security as mentioned in tho next succeeding section of this article, for the payment by such member to such corporation, of the unpaid instalments to be paid on the share or shares of stock so sold or redeemed, togetlicr with interest at the rate of six per cent per annum on tho sum so paid or advanced, at such times and subject to such fines and penalties for the non-payment thereof, as may be prescribed in the articles of association or in tho bylaws. Sec. 99. The payment of the unpaid instalments on tho sharo or shares so pur- chased or redeemed, with interest on the money paid therefor as aforesaid, and all fines and penalties incurred in respect thereof by any member, shall be secured to such corporatiou by mortgage on real or leasehold property, or by tho hypothecation of stock of such corporatiou held by such member, as may be provided in the articles of association or bylaws; but in case of hypothecation of stock, no greater sum of money shall at r.ny time bo drawn out by any member than shall havo been already paid in by him on all his shares at the time of such hypothecation; and any such mortgage and the mortgage debt created thereby, and the shares of stock of any such corporation, aud of all corporations for the loan of money on mortgage of real or leasehold property, aro declared to be exempt from taxation, to the extent of the CHAPTER VI. GENERAL LEGISLATION — MARYLAND. 549 investments of such corporation in such mortgages, the property so mortgaged to tlio corporation being taxed in the hands of the individual member or mortgagor. Sec. 100. On the trial of any action or other proceeding at law or in equity, in which the property or interest of any such corporation may bo in anywise concerned, any member of such corporation shall be a competent witness, and shall not be objected to on account of any interest he may have as such member, in the result of any such action or proceeding. Sec 101. Any association of persons which may have been organized or estab- lished at any time prior to the adoption of this article, on beiug made a body cor- porate, under the provisions of this article, shall become merged in such corporate body thereby created; and every act done or to be done by any such unincorporated association of persons, relating to the ends and purposes of such association, and all mortgages, bonds or other instruments, made to such association of persons, or to any poison or persons to or for the use of such association of persons, or any mem- ber thereof as such, shall remain and continue in full force and virtue at law and in equity, in like manner as if such incorporated association of persons had originally been-a body corporate. Skc. 102. Any trustee or trustees, person or persons, to whom any such convey- ances shall have been made, to and for the use of such incorporated association, may be required to assign and transfer the same to such corporation, and such convey- ances shall be as good and sufficient as if made to such corporation; and all tho liabilities- and obligations of, by and between the members of such incorporated association of persons, shall remain of as binding force or effect as if such association had been incorporated from tho first. Sec 103. Tho provisions of the eight foregoing sections shall bo taken and held to apply to corporations which have been or may hereafter be formed in this state, under- the provisions of this article, for the purpose of loaning money ou real or personal property or for buying, selling, leasing or otherwise dealing in land, and such corporations may by their bylaws provide for the payment of all or any part of their stock in advance, and shall have the power to enforce the psiyment of all dues, legal interest or premium due to such corporation from its members, stockholders, or borrowers, by such fines and forfeitures as the directors may from time to time provide in its bylaws; and it shall and may be lawful for any of tho corporations mentioned in this section, at any time, either before or after tbo shares of its stocks. shall have been fully paid up, to redeem or purchase the same at such sum or price as such member may agree to receive therefor, or to loan to such member tho par value of its shares as fixed by its certificate of incorporation for any number of shares then held by such member, for any number of years and upon such premium or bonus as may be agreed upon between tho corporation and member or borrower, and either to deduct such premium or bonus in advance or to make the same payable with and as a part of the weekly dues in each and every week during tho period of such loan, and in the payment of such sum of money by such corporation, then to receive from-sueh member a transfer of all his or her interest in such share or shares of its stock, and also security by way of mortgage on real or peisonal property, or by hypothecation of unredeemed shares of its stock so sold by such member; and said mortgage or hypothecation shall be conditioned for the repayment by such member or borrower to said corporation of tho money loaned or advanced to him in weekly instalments, including dues, legal interest on tho money so advanced or loaned, the weekly premium agreed upon for each share, and also all fines, assess- ments and pensilties incurred according to the bylaws in respect thereof; and all shares of stock so redeemed, advanced or loaned or purchased by such corporation, shall- be considered as redeemed shares, and shall be cancelled ; and it shall bo law- ful for such corporation to issue an equal number of new shares in their stead, so that the number of unredeemed shares may always equal and never exceed tho number of shares fixed by tho certificate of incorporation of such corporations; and the 550 REPORT OP THE COMMISSIONER" OF LABOR. member or members of such corporations, so redeeming their said share or shaTes of stock, shall ceaso to be stockholders, and shall not be entitled to vote at any meeting of such corporations, held for the purpose of electing directors or for any other pur- pose, and shall not bo eligible for any of the offices of the corporation. Sec. 104. It shall not be lawful for any land company, homestead or building asso- ciation, or any association formed for the purpose of lending money, or using the corporate funds for the purpose of buying, selling, lending upon mortgage, leasing or otherwise dealing in real or leasehold estate, to issue any promissory note, bill or obligation of any kind to any member thereof, or borrow therefrom in lieu of money, and all loans by such corporation shall be made in money and not otherwise, and all notes, bills or obligations of any sort issued by any such association to or for the use or benefit of any member or borrower in lieu of money, and all deed3, mortgages or other securities whatsoever, given to secure the same, shall be void and of no force and validity whatever, either in law or in equity. MASSACHUSETTS. PUBLIC STATUTES OP 1882. Chaptek 106. [Sections 18, 20, and 21 following relate to manufacturing and similar corporations but arc made to apply to building and loan associations by section 4 of chapter 117.] Section 18. The first meeting shall be called by a notice signed by one or more of thcr subscribers to such agreement, stating the time, place, and purpose of the meeting, a copy of whicli notice shall, seven days at least before the clay appointed for the meeting, be given to each subscriber, or left at his usual place of business or place of residence, or deposited in the post office, postpaid, and addressed to him at his usual place of business or of residence. And whoever gives such notices shall make affidavit of his doings, which shall be recorded in the records of the corpora- tion. Sec. 20. At such first meeting, including any necessary or reasonable adjourn- ment, an organization shall be effected by the choice by ballot of a temporary clerk, who shall bo sworn, and by the adoption of bylaws, and the election, in the manner provided in section twenty-four, of directors, treasurer, clerk, and such other officers as the bylaws may provide; but at such first mooting no person shall be eligible as a director who has not subscribed the agreement of .association. The temporary clerk shall make and attest a record of the proceedings until the clerk has been chosen and sworn, including a record of such choice and qualification. Sec. 21. Tho president, treasurer, and a, majority of the directors [see section 4, chapter 117], shall forthwith make, sign, and swear to a certificate settingforth a true copy of the agreement of association with the names of the subscribers thereto, tho dato of the first meeting, and the successive adjournments thereof, if any, and shall submit such certificate and also tho records of the corporation to the commissioner of corporations, who shall examine tho same, and who may require such other evi- dence as to tho facts of the case as he may judge necessary. The commissioner, if it appears that the requirements of the preceding sections preliminary to the estab- lishment of the corporation have been complied with, shall certify thai; fact and -Iris approval of tho certificate by indorsement thereon. Such certificate shall thereupon be filed by said officers in the office of tho secretary of the cora-iionwealth, who, upon payment of the fee hereinafter provided, shall cause the same with tho indorse- ment thereon to bo recorded, and shall thereupon issue a certificate in the following form : — Commonwealth of Massachusetts. lio it known that whereas [here the names of the subscribers to the agreement of association shall be inserted] have associated themselves with the intention of form- CHAPTER" VI.— GENERAL LEGISLATION MASSACHUSETTS. 551 nig a corporation under the name of [hero tlio name of tlio corporation shall he inserted], for the purpose [here tho purpose declared in the agreement of association shall ho inserted], with a capital of [hero tho amount of capital fixed in the agreement of association shall bo inserted] [see section 4, chapter 117], and have complied with the provisions of the statutes of this commonwealth in such case made and provided, as appears from the certificate of tho president, treasurer, and directors of said corpora- tion, duly approved by the commissioner of corporations and recorded in this office : Now, therefore, I [hero tho name of tho secretary shall be inserted], secretary of the commonwealth of Massachusetts, do hereby certify that said [here the names of the subscribers to the agreement of association shall bo inserted], their associates and successors, are legally organized and established as and are hereby mado an existing corporation under tho name of [here tho name of the corporation shall be inserted], with the powers, rights, and privileges, and subject to the limitations, duties, and restrictions, which by law appertain thereto. Witness my official signature hereunto subscribed, and the seal of the commonwealth of Massachusetts hereunto affixed, this day of in tho year . [In these blanks the day, month, and year of execution of the certificate shall bo inserted.] The secretary shall sign tho same and cause tho seal of the commonwealth to bo thereto affixed, and such certificate shall have the force and effect of a special charter, and shall bo conclusive evidence of the existence of such corporation. He shall also cause a record of such certificate to he made, and a certified copy of such record may bo given in evidence with like effect as tho original certificate. Chaptkr 117. Section 1, (as amended by chapter 243, acts of 1890). Twenty-five or more persons who assoeiato themselves together by an agreement in writing with tho intention of forming a corporation for tho purpose of accumulating the savings of its members paid into such corporation in fixed periodical instalments and lending to its mem- bers the funds so accumulated shall, by and With tho consent of the board of commis- sioners of savings hanks, become a corporation upon complying with the provisions of the three following sections. SEC. 2. Tho agreement shall set forth the fact that tho subscribers thereto asso- ciated themselves with tho intention of forming a corporation, tho namo by which the corporation shall be known, tho purposo for which it is formed, tho towji or city, which shall be within this commonwealth, in which it is located, and tho limit of capital to be accumulated. Sec. 3, (as amended by chapter 98, acts of 1883). Tho name shall be one not previ- ously in nso by any existing corporation established under the laws of this com- monwealth, and shall lie changed only by act of the general court. The words " cooperative bank " shall form a part of the name. Sec. 4. Tho provisions of sections eighteen, twenty, and twenty-one of chapter one hundred and six shall apply to such corporations, except that, in tho certificate signed by tho secretary of the commonwealth, tho limit of capital to bo accumu- lated as fixed in the agreement of association shall bo inserted, instead of the amount of capital, that the certificate required by' said section twenty-ono to be filed and recorded may bo signed and sworn to by tho presiding and financial offi- cers and a majority at least of the officers possessing the powers of directors, by whatever name they may be called, and that the fees to be paid for filing and record- in" the ccrlificates required by said section twenty-one, including the issuing of the certificate of organization, shall bo five dollars. Sec. 5. The capital to bo accumulated shall not exceed one million dollars, and shall bo divided into shares of the ultimate value of two hundred dollars each. Tho shares may ho issued in quarterly, half-yearly, or yearly series, in such amounts and at such times as the members may determine. 552 REPORT OP THE COMMISSIONER OF LABOR. No person shall hold more than twenty-five shares in tho capital of any one such corporation. No shores of a prior series shall be issued after tho issueof a new scries. Sec. 6. The number, title, duties, and compensation of tho officers of the corpora- tion, their terms of office, the timo of their election, as well as the qualifications of electors, and the timo of each periodical meeting of the officers and members, shall be determined by the bylaws; but no member shall bo entitled to more than one vote at any election. AH officers shall continue in office until their successors are duly elected, and no corporation shall expire from neglect on its part to elect officers at the time prescribed by the bylaws. Sec. 7.. The officers shall hold stated monthly meetings. At or before each of these meetings every member shall pay to the corporation as a contribution to its capital one dollar as dues upon each sharo held by him until tho sharo reaches the ultimate value of two hundred dollars, or is withdrawn, cancelled, or forfeited. Payment of dues on each scries shall commence from its issue. Sec. 9, (as amended by chapter 216, acts of 1887). When each unpledged share of a given series reaches the value of two hundred dollars, all payments of dues thereon shall cease, and 1ho holder thereof shall be paid out of tho funds of tho corporation two hundred dollars therefor with interest at the rate of six per cent a year from the time of such maturityto the time of payment: 1'roride'd, that at no time shall more than one half of the funds iu the treasury be applicable to the payment of such matured shares without the consent of the directors: Provided, further, that when any series of shares, either pledged or unpledged, reaches maturity between the dates of adjustment of profits, or whenever shares arc retired between such dates, the holders of such shares shall, in addition to tho value thereof, be entitled to interest at the rate of six per cent per annum for all full months from tho date of tho preceding adjustment. Sec. 10, (as amended by chapter 78, acts of-1890). The moneys accumulated, after duo allowance made for all necessary and proper expenses, and for the withdrawal of shares, shall, at each stated monthly meeting, be offered to tho members according to tho premiums bid by them for priority of right to a loan. Each member whoso bid is accepted shall bo entitled upon giving proper security to receive u, loan of two hundred dollars for each sharo held by him, or such fractional part of two hundred dollars as the bylaws may allow. If a balance of money remains unsold after a monthly sale, the directors may invest tho same in any of the securities namod iu the second clause of section twenty of chapter ono hundred and sixteen [providing for the investment by savings banks of deposits and income derived therefrom], or may loan tho same upon the shares of the corporation, on tho approval of tho direct- ors or investing committee thereof, at the highest rate paid at the last preceding monthly sale of such moneys. Sec. 11. Premiums for loans shall cousist of a percentage charged on the amount lent in addition to interest, and shall bo deemed to bo a consideration paid by the borrower for the present use and possession of tho future or ultimate value of his shares, and shall together with interest and fines be received by the corporation as a profit on tho capital invested in tho loan, and shall be distributed to the various Bhares and series of said capital as hereinafter provided. Sec. 12. A borrowing member, for each share borrowed upon, shall, in addition to his dues and monthly premium, pay monthly interest on his loan at the rate of six per cent per annum until his shares reach the ultimate value of two hundred dollars each, or tho loan has been repaid; and when said ultimate value is reached, said shares and loan shall bo declared cancelled and satisfied, and tho balance, if any, due upon tho shares, shall bo paid to the member. Sec. 13, (as amended by chapter 159, acts of 1889). For every loan made, a note secured by fir.st mortgage of real estate situated in this commonwealth shall bo given, accompanied by a transfer and pledge of tho shares of the borrower. The CHAPTER VI. GENERAL LEGISLATION MASSACHUSETTS. 553 share so pledged shall be held by tho corporation as collateral security for the per- formance of the conditions of said note and mortgage. Said note and mortgage shall recite the number of shares pledged and the amount of money advanced thereon, and shall lie conditioned for the payment at the stated meetings of the corporation of the monthly dues on said shares, and the interest and premium upon the loan, together ■with all fines on payments in arrears, until said shares reach tho ultimate value of two hundred dollars each, or said loan is otherwise cancelled and discharged : Pro- vided, that the shares without other security may in the discretion of the direc- tors be pledged as security for loans, to an amount not exceeding their value as adjusted at the last adjustment and valuation of shares before the time of the loan. If the borrower neglects to offer security satisfactory to the directors within the time .prescribed by the bylaws, his right to the loan shall be forfeited, and he shall be charged with one month's interest and one month's premium at the rate bid by him, together with all expenses, if any, incurred; and tho money appropriated for such loan may bo reloaned at tho next or any subsequent meeting. Sec14. A borrower may repay a loan at any time, upon application to the corpor- ation ,- whereupon, on settlement of his account, he shall be charged with the full amount of the original loan, together with all monthly instalments' of interest, pre- mium, and fines in arrears, and shall be given credit for the withdrawing value of his shares pledged and transferred as security; and the balanco shall bo received by the corporation in full satisfaction and discharge of said loan: Provided, that all settlements mado at periods intervening between stated meetings of tho directors shall be made as of the date of the stated meeting next succeeding such settlement; And provided, that a borrower desiring to retain his shares and membership may at his option repay his loan without claiming credit for said shares, whereupon said shares shall bo rctransferred to him, and shall be free from any claim by reason of said cancelled loan. Sec. 15. Members who make default in the payment of their monthly dues, interest, and premiums, shall be charged a fine not exceeding two per cent a month on each dollar in arrears. No fines shall be charged after the expiration of six months from the first lapse in any such payment, nor upon a fine in arrears. Tho shares of a member who continues in arrears more than six months shall, at the option of the directors, if the member fails to pay tho arrears within thirty days after notice, be declared forfeited, and tho withdrawing value of the shares. at the time of the first default shall be ascertained, and, after deducting all fines and other legal charges, the balance remaining shall be transferred to au account to be designated tho " for- feited share account" to the credit of the defaulting member. Said member, if not a borrower, shall be entitled upon thirty days' notice to receive the balanco so transferred without interest from the time of tho transfer, in the order of his turn, out of the funds appropriated to tho payment of withdrawals. All shares so for- feited or transferred shall cease to participate in any profits of the corporation accruing after the last adjustment and valuation of shares before said first default. Sec. 16. If a borrowing member has been in default for six months, the amount to be credited to his shares under the preceding section shall be applied as a payment upon the loan, and the balance with interest and premiums thereon from the time of first default together with an attorney's fee of five per cent on said balance shall bo enforced against the security and recovered as secured debts are recovered at law. The shares the value whereof has been so applied in payment shall revert to the corporation, and be held by it free from all interest, claim, or demand on tho part of the borrower or any person claiming from or under him. Sec. 17. The general accounts of every such corporation shall be kept by double entry. All moneys received by the corporation from each member shall bo receipted for by persons designated by the directors, in a pass book provided by the corpora- tion for the use of and to be held by tho member; and said pass book shall be plainly marked with the name and residence of the holder thereof, the number of shares held 554 REPORT OF THE COMMISSIONER OF LABOR. lij- him, and the number or designation of the series or issue to which said shares respeetively belong,* and the date of the issue of such series. All moneys so received shall be originally entered by the proper officer in a book to be called the "cash book," to be provided by the corporation for the purpose, and the entries therein shall bo so made as to show the name of the payer, the number of shares, the num- ber or designation of the series or issues of the particular share or shares so entered, together with the amount of dues, interest, premiums, and fines paid thereon, as the case may be. Each payment shall be classified and entered in a column devoted to its kind. Said cash book shall be closed after the termination of each stated meet- ing, and shall be an exhibit of the receipts of all moneys paid at said meeting. All payments made by the corporation for any purpose whatsoever shall be by order, check, or draft upon the treasurer, signed by the president and secretary, and indorsed by the persons in whose favor the same arc drawn. The name of the payee, the amount paid, and tho purpose, object, or thing for which the payment is made, together with its date, shall be entered on the margin of said order, check, or draft. The treasurer shall dispose of and secure the safe keeping of all moneys, securities, and property of tho corporation, in the manner designated by the bylaws, and tho treasurer and secretary shall give such security for the faithful performance of their respective duties as the bylaws may direct. Sec. 18. The profits and losses may bo distributed annually, semi-annually, or quarterly, to the shares then existing, but shall be distributed at least once in each year, and whenever a now series of shares is to be issued. Profits and losses shall be distributed to tho various shares existing at tho time of such distribution, in proportion to their value at that time, and shall be computed upon tho basis of a single share fully paid to the date of distribution. Losses shall bo apportioned immediately after their occurrence. Sec. 19. Any such corporation may purchase at any sale, public or private, any real estate upon which it may have a mortgage, judgment, lien, or other encum- brance, or in which it may have an interest; and may sell, convey, lease, or mort- gage, at pleasure, tho real estate so purchased, to any person or persons whatsoever. All real estate so acquired shall be sold within five years from acquisition of title thereto. Sec. 20. The commissioners of savings banks shall perform in reference to every such corporation the same duties, and shall have the same powers, as are required of or given to them in reference to savings banks, and shall annually make report to tho general court of such facts and statements respecting such associations and in snch form as they deem that the public interest requires. Every officer of such corporation shall answer truly all inquiries made, and shall make all returns required by tho commissioners. ACTS OF 1882. ClIAI'TKR 251. Section 2. Any corporation organized under said chapter one hundred and seven- teen [Public Statutes of 1832] may provide in its bylaws that tho bid for loans at its stated monthly meetings shall, instcadof a premium, be a rate of annual interest upon the sum desired payable in monthly instalments. Such bids shall include the whole interest to be paid, and may be at any rate not less than five per centum per annum. ACTS OF 1885. Chapter 121. Section 1. In any cooperative bank, now or hereafter formed under the provis- ions of chapter oue hundred and seventeen of the Public Statutes, the offices of sec- retary and treasurer may be held by one and the same person. CHAPTER VI. —GENERAL LEGISLATION' — MASSACHUSETTS. 555 Sec. 2. At each periodical distribution of profits, the directors shall reserve as a guaranty fund a sum not less than one nor more than fivo per cent of the net profits accruing since the next preceding adjustment, until such fund amounts to five per cent of tho dues capital, which fund shall thereafter bo maintained and held; and said fund shall bo at all times available to meet losses in tho business of the corpo- Tation from depreciation of its securities or otherwise. ACTS OF 1887. ClIAPTKI! 216. Section 1. The limitation of capital to bo accumulated in any cooperative bank now organized or hereafter formed under the provisions of chapter one hundred and seventeen of tho Public Statutes shall be held to apply (o capital actually paid in, and no such bank shall bo restrained from issuing shares so long as the capital actually paid in on shares is not in excess of one million dollars. Sec. 2. A member may withdraw his unpledged shares at any timo by giving thirty days' notice of his intention so to do, written in a book held and provided by tho corporation for that purpose. Upon such withdrawal the shareholder's account shall bo settled as follows: — From the amount then standing to tho credit of the shares to bo withdrawn there shall be deducted all fines, a proportionate part of any unadjusted loss, together with such proportion of the profits previously credited to tho shares as the bylaws may provide, and such shareholder shall bo paid tho balance: Provided, that at no time shall more than one-half of the funds in tho treasury bo applicable, to the demands of withdrawing members without the consent of tho directors. Tho directors may at their discretion, under rule3 made by them, retire tho unpledged shares of any series at any timo after four years from tho date of their issue, by enforcing tho withdrawal of the same ; but whenever there shall remain in any series, at. the expiration of five years after tho date of its issue, an excess above one hundred unpledged shares, then it shall be the duty of the directors to retire annually twenty-five per centum of such excess existing at said expiration of fivo years after the dato of its issue, so that not more than one hundred unpledged shares shall remain in such scries at the expiration of nino years from tho date of its issue, and thereafter the directors may in their discretion retire such other unpledged shares as they consider tho best interests of tho bank to require: Provided, that whenever under the provisions of this section the with- drawal of shares is to bo enforced the shares to be retired shall bo determined by lot, and tho holders thereof shall be paid the full value of their shares, less all fines and ii proportionate part of any unadjusted loss; And provided, also, that shares pledged for share loans shall bo treated as unpledged shares. Sr.c. 3. Shares may bo issued in tho raine of a minor, and if so issued may, at the discretion of tho directors, bo withdrawn, in manner as provided in section two of this act, by such minor, the parent or guardian of such minor, and in either case pay- ments made on such withdrawals of shares shall be valid. When a share or shares are held by any one in trust for another, the name and residence of the person for whom such share or shares are held shall be disclosed; and tho account shall be kept in the name of such holder as trustee for such person; and, if no other notice of the existence and terms of such trust has been given in writing to the corporation, in the event of the death of tho trustee, such shares may bo withdrawn by the person for whom such deposit was madoor by his legal representatives. Sec. 4. Partial payments of loans on real estate mado by any cooperative bank may bo received in sums of fifty dollars or any multiple thereof; and for each two hundred dollars so repaid one share of stock shall be released from pledge. 556 REPORT OF THE COMMISSIONER OP LABOR. ACTS OF 1889. Chaptku 13!). Section 2. Every cooperative bank shall annually within twenty days after the last business day of October make a return to the commissioners of saving banks in such form as may be prescribed by them, showing- accurately the condition thereof at close of- business on said day, which return shall be signed and sworu toby the secretary and treasurer of such corporation. The president and five or more -of tho directors shall certify and make oath that the report is correct according to their best knowledge and belief. ACTS OF 1890. Chapter 63. Section 1. The capital stock, corporate franchises and personal estate of cooper- ative banks shall bo exempted from taxation; but this act shall not be construed to exempt from taxation any real estate of such corporations. Chapter 310. Section 1. Except as is hereinafter provided, no person, association or corporation shall carry on the business of accumulating the savings of its members and loanij^j to them such accumulations in the manner of a cooperative bank withiu this commonwealth, unless incorporated under the laws thereof for such purpose. Sec. 2. The board of commissioners of savings banks may authorize any such association or corporation duly established under the laws of another state to carry on such business in the commonwealth, but said association or corporation shall not transact such business iu this commonwealth unless it shall first deposit with the treasurer of the commonwealth the sum of twenty-five thousand dollars and thereafter a sum equal to fifteen per cent of tho deposits made in such association or corpora- tion by citizens of the commonwealth, the amount of percentage of deposits so required to be determined from time to time by said board of commissioners of sav- ings banks; or in lieu thereof the whole or any part of said sum may consist of any of the securities named in tho first, second and third clauses of section twenty «f chapter one hundred and sixteen of the Public Statutes and nets amendatory thereof [providing for tho investment by savings banks of deposits and income derived therefrom], at their par value, and the said deposit shall be held iu trust by said treasurer for tho protection and indemnity of the residents of the commonwealth with whom such associations or corporations respectively have donoor may transact business. Said moneys or property shall bo raid out or disposed of only on tho order of some court of competent jurisdiction made on duo notice to tho attorney general of the commonwealth, i:nd upon such notice to the creditors and shareholders of such association or corporation as tho court shall prescribe. For tho purpose of ascer- taining the business and financial condition of any such association or corporation doing or desiring to do such business, said board may make examinations of such associations or corporations at such times and at such places as said board may desire, tho expense of such examinations being paid by tho association or corporation examined, and may also requiro returns to bo mado to them in such form and at such t imes as they may elect. Whenever, upon examination or otherwise, it is the opinion of said board that any such association or corporation is transacting business in such manner as to bo hazardous to the public, or its condition is such as to render farther proceedings by it hazardous to the public, said board shall revoke or suspend the authority given to said association or corporation, but this section shall not pre- vent such a bank or institution, incorporated under the laws of another state, from loaning money upon mortgages of real estate located within the commonwealth. CHAPTER VI. — GENERAL LEGISLATION — MASSACHUSETTS. 557 Skc. 3. Every such person, association or corporation transacting business in the common wealth' at the time, of the passiago of this act shall, within sixty days after such passage; conform to tho requirements of this act. Sec. 4.~ Whoever violates any provision of tho preceding sections shall he punished hyaline not exceeding onu thousand dollars; and any provision thereof may on petition be enforced by injunction issued by a justice of the supreme judicial court or of the superior court. ACTS OF 1891. Chaptkh 360. Suction 1. The commissioner of corporations may authorize any corporation sub- ject to the provisions of [chapter] * * v one hundred aud seventeen ■• * * * of the Public Statutes, and acts amendatory of k ' * said [chapter], to change its name, upon notice and hearing, as hereinafter set forth: Provided, such corpora- tion shall, previously to its application to the commissioner of corporations for change of its name, at a meeting called for that purposo have voted, by a vote of two-thirds of tho stockholders present and voting at tho meeting, to change its name and adopt a new one. Skc. 2. Bofore authorizing a change of name, as provided in section one, the commissioner shall require public notice of the application therefor to be given, that all persons may appear to show cause, if any they have, why tho application should not be granted. Sue. 3. When such change of name shall have been authorized by tho commis- sioner of corporations, a certified copy of his authorization of tho same, together with a certificate setting forth the vote of the corporation to so change its name and - adopt a new one, signed and sworn to by the president, treasurer and a majority of tho directors, shall be filed in the office of tho secretary of the commonwealth. And the commissioner shall require public notico to bo given of the change to author- ized ; and on receipt of proof thereof tho secretary of the commonwealth may grant a certificate of tho name which the corporation shall bear, and which shall there- after be its legal name, subject however to the provisions of chapter two hundred and fifty-seven of tho acts of the year eighteen hundred and ninety-one. Skc. i. A corporation under its new name shall have the same rights, powers ami privileges, and be subject to tho same duties, obligations and liabilities as before such change, and may suo and bo sued by its own name; but any action brought against it by its former naino shall not be defeated . The shares held by any member, being a householder, of any associa- tion incorporated under the provisions of this act shall bo exempted from levy and sale on execution or attachment to the amount of one thousand dollars in such shares, at the par value thereof : Provided, that such exemption shall not apply to any person who shall have a homestead exempted under the general laws of this state. Sec. 3981g. The shares held by any member of any such association incorporated under the provisions of this act, and all mortgages or other securities held by such associations, shall be exempted from all municipal or other tax under the laws of this state. MINNESOTA. GENERAL STATUTES OF 1878, EDITION OF 1883. Chapter 11. Section 22, (as amended by chapter 78, laws of 1885). The president, secretary, or principal accounting officer of any company or association, whether incorporated or unincorporated, * * ' whose taxation is specifically provided for in this act, shall make out and deliver to the assessor a sworn statement of the amount of its capital stock, setting forth particularly : 1. The namo and location of the company or association. 2. The amount of capital stock authorized, and the number of shares into which said capital stock is divided. 3. The amount of capital stock paid up. 4. The market value, or if they have no market value, then the actual value of the 6hares of stock. 5. The total amount of all indebtedness, except the indebtedness for current expenses, excluding from such expenses the amount paid for the purchase or improve- ment of property. 6. The value of all its roal property, if any. 7. The value of its personal property. Tho aggregate amount of the fifth, sixth and seventh items shall be deducted from the total amount of the fourth item, and the remainder, if any, shall be listed as "bonds or stocks," under subdivision twenty-four of section sixteen of this act. Tho real and personal property of such company or association shall be listed and assessod the same as other personal property. In all cases of failure or refusal of any person, officer, company or association, to make such return or statement, it shall be tho duty of tho assessor to make such return or statement from the best information he can obtain. The monthly instal- ments deposited in building associations and subject to withdrawal on demand, or on thirty (30) or sixty (60) days' notice, as provided in the bylaws of such associa- tions, arc an indebtedness which may be deducted from the value of their stock as provided in this section. Mortgages of said associations, which are represented in their stock; and assessed as stock, shall not be assessed as mortgages. They shall list their real cstato and all personal property as provided in this section. Chapter 23. Section 8, (as amended by chapter 66, acts of 1879) . * > - But none of the pro- visions of the act [usury law] shall apply to mutual building associations. CHAPTER VI. — GENERAL LEGISLATION — MINNESOTA. 575 Chapter 34. Sbctiox 2. They [saving fund, building, or loan associations] shall organize by adopting and signing articles of incorporation, which shall bo recorded in the office of the register of deeds of the county where the principal place of business is to be, and also in the office of the secretary of state, in books kept for such purposes. Sec. 3. Said articles shall contain: 1. The name of the corporation, the general nature of the business, and the prin- cipal place, if any, of the transacting [of] the same. 2. The time of commencement and the period of continuance of said corporation. 3. The amount of capital stock of said corporation, and how to be paid in. 4. The highest amount of indebtedness or liability to which said corporation shall at any time be subject. 5. The names and places of residence of the persons forming such association for incorporation. ■ 6. The names of the first board of directors, and in what officers or persons the government of the corporation and the management of its affairs shall be vested, and when the same are elected. 7. The number and amount of the shares in the capital stock of said corporation. And shall be published for four successive weeks in some newspaper printed and published at the capita] of the state, or in the county where such corporation is organized : Provided, that in cases where articles of incorporation have been adopted and signed, or may hereafter be adopted and signed, as provided in sections two and tbree of this chapter, and filed for record in the office of the secretary of state, the publication of the same for one week in some newspaper printed and published at the capital of the state, or in some newspaper printed and published in the county where such corporation is organized, shall be a sufficient publication under this chapter ; and upon filing an affidavit of proof of such publication in the office of the secretary of state, the persons named in such articles shall thereupon become a cor- poration, with the authority and powers in this chapter provided and intended. Sec. 4. When articles aro filed, recorded and published as aforesaid, the persons named as corporators therein become a body corporate, and are airthoTized to pro- ceed to carry into effect the objects set forth in said articles in accordance with the provisions of this title, and shall have perpetual succession, sue and be sued by its corporate name, have a common seal, which it may alter at pleasure, may render the interest of its stockholders transferable, establish bylaws, and make all rules and regulations deemed expedient for the management of its affairs, in accordance with law, and not incompatible with an honest purpose; and whenever, after the adop- tion, filing, publication and recording of the articles of incorporation, as provided for iu section three of said chapter, and the creation thereby of a body corporates the said corporation so created shall resolve to alter, modify, or change any of it, articles of incorporation, such corporation may, by resolution duly passed .at any regular meeting of the directors thereof, adopt a new article or articles, altering, modifying or changing any of the original articles of incorporation: Provided, such alteration, modification or chango shall only relate to and affect the name of such incorporation, the general nature of its business, and the principal place of trans- acting the same, the amount of its capital stock, and how to be paid in, the highest amount of indebtedness or liability to which said corporation shall at any time be subject, and the number and amount of the shares of its capital stock: And provided further, that no such new and amended articles of incorporation shall be operative or valid to alter, modify or change such original articles of incorporation until the same shall be filed, published and recorded in the same manner and with like for- malities that the original articles of incorporation are now required to be filed, pub- lished and recorded ; and when so adopted, the said amended articles of incorporation shall be substituted for and take the place of the original articles of incorporation so amended. 576 REPORT OF THE COMMISSIONER OF LABOR. Sec. 7. A statement of the amount of the capital stock subscribed, the amount of capital actually paid iu, and the amount of indebtedness of the company, in a general way, shall also be kept posted up in like manner, which statement shall be corrected as often as any material change takes place iu relation to any part of the subject matter of such statement. | Sue. 8. Tho transfer of shares is not valid, except as between the parties thereto, until it is regularly entered on the books of the company, so far as to show the names of tho persons by and to whom transferred, the numbers or other designation of the shares, and tho dato of the transfer; but such transfer shall not in any way- exempt the person making such transfer from any liabilities of said corporation which were created prior to such transfer. The books of thecompany shall be so keptasto .show intelligibly tho original stockholders, their respective interests, the amount which has been paid in on their shares, and all transfers thereof; and such books, or a correct copy thereof, so far as the items mentioned in this section are concerned, shall be subject to the inspection of any person desiring the same. Sec. 9. The private property of each stockholder in any corporation formed as herein provided is liable for corporate debts in the following cases : 1. For all unpaid instalments on stock owned by him, or transferred for the purpose of defrauding creditors. 2. For a failure by the corporation to comply substantially with the provisions aforesaid as to organization and publicity. 3. When he personally violates any of the provisions of this title in the transac- tion of any business of the corporation as officer, director or member thereof, or is guilty of any fraud, unfaithfulness or dishonesty iu the discharge of any official duty. Sec. 10. The private property of no stockholder shall be levied on under the pre- ceding section, unless such stockholder, as well as the corporation, is duly served with process in the action, and the issue involving his individual liability as afore- said raised and determined; and in no case whatever shall such property be levied on while sufficient corporate property can be found to satisfy the execution or any part thereof. Skc. 11. The officer holding an execution which maybe levied on private property, as aforesaid, shall make demand of payment thereon of the president, secretary, or some officer of the corporation, acting, or who was one of the last acting officers thereof; and if he does not forthwith pay said execution, or point out corporate prop- erty that may be levied on, the officer shall indorse the fact of such demand, refusal or neglect upon said execution, and thereupon may levy the same upon the private property of the stockholder served and impleaded as aforesaid. Such levy may be made to satisfy any balance due upon the execution after levy upon corporate prop- erty, or part payment out of corporate funds. Sec. 109. Any number of persons, not less than three, who have or shall, by arti- cles of agreement in writing, associate according to the provisions of this title, under any name assumed by them, for the purpose of engaging in or carrying on the busi- ness of * saving fund, loan or building association, * * * and who have or shall comply with the provisions of this title, shall, with their associates, succes- sors and assigns, constitute a body corporate and politic, under the name assumed by them in tho articles of agreement: Provided, no company shall take a name pre- viously assumed by any other company. * * * Such association or corporation is authorized to loan money and funds, aud secure such loan by mortgage or other security ; and " * any premium for preference or priority taken by any mutual building association for any loan of its funds by such building association shall not be deemed interest within the meaning of any law of this state, nor shall any excess of such premiums over any rate of interest permitted by the. laws of this state be deemed or held, in any court of law or equity, to be usury. Any association organized under this title is authorized and empowered to purchase at any sheriff's or other CHAPTER VI. GENERAL LEGISLATION MINNESOTA. 577 judicial sale, or at any other sale, public or private, and to hold, any real estate upon -which such associates or association may have or hold aay mortgage or judg- ment, or lien, or other incumbrance, or in which such associates or association may have an interest; and the real estate so purchased, to s 11, convey, leasa or mortgage, at pleasure, to any person or persons, or purchasers whatever : Provided, howevei; that no mutual building association, nor association for buying, selling and dealing in lands, tenements and hereditaments, shall loan its funds except to its own members. Sec. 110. The provisions of sections two, three, four, seven, eight, nine, ten, eleven, * * * of title one [chapter 34], shall apply to and be observed by corporations organizing under this title. Sec. 112, (as amended by chapter 220, laws of 1889). The amount of capital stock in any such corporation shall in no case be less than ten thousand (10,000) dollars, and shall be divided into shares of not less than two (2) dollars nor more than one hundred (100) dollars each ; except that the capital stock of mutual building a,nd loan associations may be divided into shares of two hundred (200) dollars each, and the capital stock and number of shares may be increased at any regular or special meet- ing of the stockholders. Sec. 113. Every such corporation has power to acquire, hold and transfer all such real and personal estate as is necessary or convenient for the purpose of conducting, carrying ou, or disposing of the business of such corporation. Sec. 114. The stock of any such corporation shall be deemed personal propeity, and be transferable only on the books of such corporation, in such form as the directors prescribe; and such corporation shall at all times have a lien upon the stock or property of" its members invested therein, for all the debts due from them to such corporation, which may be enforced by advertisement and sale in the manner provided for selling delinquent stock. Sec. 115. The directors shall cause a record to be kept of all stock subscribed and transferred, and of all business transactions, and their books and records shall at all times be open to the inspection of any and all stockholders ; they shall also, when required, present to the stockholders reports in writing of the situation and amount of business of the corporation, and declare and make such dividends of the profits from the business of the corporation, not reducing the capital stock while they have outstanding liabilities. Sec. 116. The directors of any corporation organized under this title have power to establish one or more offices without this state, and transact business thereat : Provided, that an office shall always be maintained in this state where legal process may be served on the person in charge thereof. Sec. 117. No corporation shall be formed under this title to continue more than thirty years. Sec. 118. The shareholders or stockholders in any body politic or corporate which has been or hereafter may be incorporated pursuant to the provisions of title two of chapter thirty-four of the General Statutes of this state, may amend the articles of association of such body corporate in any respect which might have been lawfully made a part of such original articles, by adopting, by a majority vote in number and amount of such shareholders and shares, articles specifying such amendments. Sec. 119. Any body politic or corporate amending its original articles of associa- tion, shall cause to be prepared a certificate stating the time when and the respect in which such articles were amended, which certificate shall be subscribed and sworn to by the president or other chief executive officer, and also by the secretary of such body politic or corporate, and shall also be filed, published and recorded in the same manner provided by law for the filing, recording and publication of such original articles; and thereupon such amendments shall be and become a part of the articles of such body corporate, with the same force and effect as if such amendments had been adopted as a part of such original articles. H. Ex. 209 37 578 REPORT OP THE COMMISSIONER OF LABOR. GENERAL LAWS OF 1889. Chapter 236. Section 1, (as amended by chapter 131, laws of 1891). Whenever any number of persons, not less than ten (10), desire to be incorporated as a building and loan asso- ciation, for the purpose of accumulating the savings and funds of its members and lending them only the funds so accumulated, they shall make and execute a written declaration to that effect, in the form now provided by statute for tho execution of deeds of real estate, to entitle the same to record. Said declaration shall state the name of such association, its principal place of business, which shall be within this state, the limit of capital to be accumulated, the time of its duration, the names and places of residence of such persons, and that it is organized under this act for the purposes herein expressed. When so executed, said declaration shall be filed and recorded in the office of the secretary of state, whereupon such officer shall issue a copy of such declaration under "his certificate, in proper form, setting forth the time and place of filing and recording thereof in his office, which declaration and certificate shall thereupon be recorded in the office of tho register of deeds of the county where said association is located, and published once in a daily or weekly newspaper printed and published and of general circulation in said county. Upon complying with the foregoing requirements, and upon filing an affidavit of proof of such publication in the office of the secretary of state, tho persons executing such declaration, their associates and successors, shall become a corporate body. Sec. 2, (as amended by chapter 131, laws of 1891). The name shall not be the same as, nor too closely resemble, that in use by any existing corporation established under the laws of this state. The words " building and loan association," or " sav- ings and loan association," shall form a part of the same, and no corporation not organized under this act shall be entitled to use a name embodying either said com- bination of words ; Providing, that associations now existing may continue their present names. Sec. 3, (as amended by chapter 131, laws of 1891). The directors of such associa- tion shall adopt bylaws for its government, and therein describe the manner in which its business shall be transacted, which bylaws shall be conformable to the provisions of this act and the laws of this state, and at all times be open to the inspection of all members of the association'at its home office, and a copy thereof and of any amendments thereto, duly certified by the president and secretary of the association, shall, immediately upon its adoption, be filed in the office of the public examiner. The directors may am. nd said bylaws from time to time in such manner as they see fit, so long as such amendments are not in conflict with the provisions of this act or the laws of the state. Every such association which has not already done so shall, before its next annual election after the passage of this act, divide its board of directors, by resolution thereof, into three (3) classes, consisting of an equal number in each class, as nearly as may be. The term of office of the first (1st) class shall expire at tho end of one* (1) ye.ir from and after the next annual election, of the second (2d) class at the end of two (2) years, and of the third (3d) class at the end of three (3) years; and at each succeeding annual election after the one at which the full board is elected, there shall be elected a number of directors equal to those whose terms of office expire at that time, and the directors so elected shall hold their office for the term of three (3) years and until their successors are elected and qualified. Sec. 4, (as amended by chapter 131, laws of 1891). For every loan made, a note, non-negotiable, or bond, secured by first (1st) mortgage on real estate, shall be given, which security shall be in double the value of the loan and satisfactory to the directors, and shall be accompanied by a transfer and pledge of tho shares of the borrowers to the association. The shares so pledged shall be held by the corpora- tion as collateral security for the performance of the conditions of said note or bond CHAPTER VI. GENERAL LEGISLATION MINNESOTA. 579 and mortgage ; Provided, that the shares, without other security, may, in the discre- tion of the directors, bo accepted as security for the loans for an amount notexceed- ingtheiTwithdrawal value, as provided by this act. Stockholders who have borrowed money of an association on real estate security, and who have pledged their stock or any portion thereof as collateral thereto, as provided herein, shall not be entitled to have the value of such stock applied on the mortgage debt where the payment on such stock is more than three (3) months in arrears, unless the same has reached a withdrawal age as fixed by this act; and when such stock has reached that age the withdrawal value thereof shall be applied on said debt whenever the stock is three (3) months in arrears. Sec. 5, (as amended by chapter 131, laws of 1891). Any such association may purchase at any sale, public or private, any real estate upon which it may have a mortgage, judgment, lien or other incumbrance, or in which it may have any inter- ests, and may sell, convey, lease or mortgage the same at pleasure to any person or persons, and may acquire and hold a lot or lots whereon is erected a building or buildings requisite foT the convenient transaction of its business, and from portions of which not required for its own use a revenue may be derived. The cost of such building and lot or lots in no case to exceed five (5) percent of its assets; Provided, that any such association may acquire any leasehold interest necessary for the trans- action of its business. Sec. 6, (as amended by chapter 131, laws of 1891). Every building and loan asso- ciation heretofore or hereafter incorporated under the laws of this state and gov- erned by this aet shall deposit and keep with the state treasuTer, or with a duly chartered trust company of this state, approved by the public examiner, in trust for all its members and creditors, all mortgages or other securities received by it in the usual course of its business. When deposited with a trust company, such company shall certify to the public examiner the possession of such securities, and t!ie same shall not be surrendered without the authority and sanction of said public examiner. Provided, that every such corporation heretofore organized not having or owning mortgage or other securities to the amount of twenty-five thousand dollars (?25,000) shall deposit with the state treasurer additional securities to make, with the secur- ities so owned and deposited, the sum of twenty-five thousand dollars ($25,000) ; and every such association hereafter organized under this aet shall deposit and keep with the state treasurer in trust, as aforesaid, securities of the Talue of twenty-five thousand dollars ($25,000) before commencing to do business. The securities men- tioned in this proviso shall consist of bonds or treasury notes of the United States, or national bank stocks, or the bonds of this state, or of any other state of the United States, or of any solvent city, county or town of this state, or of any other state of the United States, having the legal authority .to issue the same; and such securities may be withdrawn from time to time, when mortgage securities of corre- sponding value shall be deposited as provided in this act, or when securities of like character are substituted therefor, or when the same shall have been paid or are required for foreclosure or suit ; and it shall be the duty of the public examiner from time to time to examine such association to ascertain whether or not its securities are deposited as required by this act. Provided, that whenever required by the laws of any other state or territory, or nation, all securities taken in such state, territory or nation, by any association organized under the laws of this state and subject to the provisions of this act, and other securities sufficient to allow such association to enter and do business in such state, territory or nation, may be deposited with some officer authorized to receive the same in such state, territory or nation, under the laws thereof, for the benefit of its members and creditors; and to this end, upon the presentation to the public examiner of a duly authenticated copy of a resolution of the board of -directors of any such association, having on deposit with the state treasurer or a duly chartered trust company securities in excess of twenty-five thousand dollars ($25,000), demand- 580 REPORT OF THE COMMISSIONER OF LABOR. ing the transfer and specifying the securities to be transferred, or the amount thereof, to any other state, territory or nation, for the purpose of enabling such association to comply with the laws thereof, it shall be the duty of the public exam- iner to cause such transfer to be made. The expense of making such transfer shall be borne by the association requiring the same, and a receipt shall be taken by the officer or trust company making the transfer, and filed and kept in the office from which the securities are transferred in lieu thereof. But the securities kept on deposit in this state by any such association, as required by this act, shall at no time be reduced in amount by such transfer, or otherwise, below twenty-five thousand dollars ($25,000) ; and in every ca.se where securities taken in another state, terri- tory or nation are deposited in such state, territory or nation, or when other securi- ties are removed from this state to such other state, territory or nation for the pur- pose aforesaid, the association to which they belong shall make a certificate of such depository, showing the amount and character of such deposit which certificate shall be filed with the public examiner, and renewed annually, together with a statement, verified by the affidavit of some officer of such association who has knowledge of the facts, showing all the securities taken or deposited by such association in such state, territory or nation at the time of the filing of such certificate; and, in case any securities taken in such state, territory or nation are not deposited there, then the same shall be deposited in this state as required by this act. Sec. 7, (as amended by chapter 131, laws of 1891). All interests and dividends and' premiums which may accrue on securities held by the state treasurer or such trust company, as provided for herein, aud all dues or monthly payments which may become payable on stock pledged as security for loans, the mortgages for which are so deposited in accordance with the provisions of this act, may be collected and retained by the association depositing such securities or mortgages, so long as such association remains solvent and faithfully performs all contracts with its members; and when any mortgage shall have been fully paid to said corporation, the same may bo surrendered to it, upon filing with the depository the affidavit of the president or vice-president and secretary of any such association that such indebtedness has been pa;d in full, which affidavit shall be first presented to the public examiner and by him approved. And any mortgage upon which default has been made may be sur- rendered as aforesaid, for foreclosure, upon like affidavit that default exists and that such mortgage is withdrawn for the purpose of foreclosure of suit. Sec. 8, (as amended by chapter 131, laws of 1891). No building and loan association organized under the laws of any other state, territory or nation, shall do business in this state unless such association shall have securities of the value of one hundred thousand dollars ($100,000), and of the character mentioned in this act, on deposit in trust, for all its members and creditors, with some responsible trust company duly incorporated under the laws of such state or territory in the United States, or with some authorized officer of this or some other state of the United States. Cer- tificate's of such deposit shall be made to the public examiner of this state, certify- ing the possession of such securities, which shall not thereafter be surrendered without the authority or consent of the public examiner or other authorized officer of the state or territory in which said company is incorporated. Sec. 9, (as amended by chapter 131, laws of 1891). Every building and loan asso- ciation organized under the laws of any other state, territory or nation, shall, before commencing to do business in this state, first, file with the public examiner of this state a duly authenticated copy of its charter or articles of incorporation ; second, file with the public examiner of this state the certificate of the authorized officer of another state showing that securities of the value of one hundred thou- sand dollars ($100,000) are on deposit with such state officer or duly incorporated trust company, in trust for all the members and creditors of such building and loan association ; third, file with the public examiner of this state a duly authenticated copy of a resolution adopted by the board of directors of such association, stipulat- CHAPTER VI. GENERAL LEGISLATION MINNESOTA. 581 ing and agreeing that if any legal process affecting such association 'be served on such examiner, and a copy thereof be mailed postage prepaid by the party procur- ing the issue of the same, or his attorneys, to said association, addressed .to its home office, then such service and mailing of such process shall have the same effect as personal service on said association in this state, and also an agreement that said association will not remove any action commenced in any state court of this state against the same to the United States court, and will pay every judgment that may be taken against it upon any such action within sixty (60) days after the final judg- ment shall have been entered ; fourth, pay to the public examiner twenty-five dol- lars ($25) as fees for filing the papers mentioned in this section. Sec. 10, (as amended by chapter 131, laws of 1891). When process against or affect- ing any foreign building and loan association is served on the public examiner, the same shall be by duplicate copies, one of which shall be filed in the office of the pub- lic examiner, and the other by him immediately mailed, postage prepaid, to the home office of said association. Sec. 11, (as amended by chapter 131, laws of 1891). The word "process" in this act shall include any writ, declaration, summons or order whereby any action, writ or proceedings shall be commenced, or which shall be issued in or upon any action, suit or proceeding authorized by law in this state. Sec 12, (as amended by chapter 131, laws of 1891). Service of process according to a stipulation provided in section nine (9) of this act shall be sufficient personal service on the association filing such stipulation. Sec. 13, (as amended by chapter 131, laws of 1891). When by the laws of any other state, territory or nation, auy taxes, fines, penalties, licenses, fees, deposits of money or securities, or other obligations or prohibitions, are imposed on building and loan associations of this state doing business in such other state, territory or nation, or upon their agents therein, so long as such laws continue in force the same obligation and prohibition, of whatever kind, shall be imposed upon all building and loan associations of such other state, territory or nation, doing business in this state, and upon their agents here. Sec. 14, (as amende'd by chapter 131, laws of 1891). Any building and loan asso- ciation organized under the laws of any other state or territory, that shall remove any action that shall be commenced against it in a court of this state to the United States court, or that shall fail to pay any judgment rendered against it upon a suit in any court of the state within sixty (60) days after the rendition of final judgment in such case, or that shall fail to make yearly statements to the public examiner as hereafter mentioned, or statements of the amount and value of its stock held in this state as hereafter required, or to pay the fees of the public examiner as provided in this act, or to do any other act required in this act to be done and performed, shall upon violation of the provisions of this act have no right or authority to do or trans- act any further business in this state, and the public examiner shall thereupon cause notice of determination of such authority to do business to be mailed to such cor- poration and to be published in some newspaper of general circulation at the capi- tal of this state, and shall communicate the facts to. the attorney general of this state, who shall institute such proceedings in the matter as the case may require: Provided, any such corporation may be again authorized to commence business in this state upon such terms as the public examiner may deem just and proper, and upon full compliance with the provisions of this act. Sec. 15, (as amended by chapter 131, laws of 1891). All building and loan associa- tions hereafter incorporated in this state shall have an authorized capital of two million dollars ($2,000,000) at the time of the incorporation. Every share of capital stock issued by any such association shall be of the par value of one hundred dollars ($100), but this provision shall not be construed to forbid the issue by any such association of paid-up certificates for a less amount in liquidation of stock surren- dered for cancellation or withdrawn before reaching its maturity period ; Provided, 582 REPORT OF THE COMMISSIONER OP LABOR. that such paid-up certificates shall be certificates of indebtedness only, and the stock in liquidation of which certificates are issued shall be thereupon surrendered and cancelled. Sec. 16, (as amended by chapter 131, laws of 1891). Any bnilding and loan asso- ciation heretofore or hereafter incorporated un.ier the laws of this state may at any time increase the amount of its capital stock by a vote of at least three-fourths (£) of its board of directors; Provided, that no such increase shall bo made unless three- fourths (f) of thu capital stock previously authorized has actually been issued, aud the amount of increase made at auy oue time shall not exceed the amount issued previous to the time of such increase. Any amendments of the articles of incorpo- ration of any such association iu any other respect shall be done at an annual meet- in° r , by a two-thirds (f ) vote of stock represented and voted at such annual meeting on the question of such amendment or anient' nieuts, and only upon the notice here- inafter provided to be given. Sec. 17, (as amended by chapter 131, laws of 1891). Whenever any building and loan association increases its capital stock or otherwise amends its articles of incor- poration, as provided in this act, a copy of the resolution of the board of directors or stockholders making such increase or other amendment, duly verified by oath of the president and secretary of such association, shall be filed in the office of the register of deeds of the county in which the home of said association is located and in the office of the secretary of state, and be published four successive times in some daily or weekly newspaper published at the capital of the state or in the county where the association has its home office, proof of which publication shall be filed in the office of the secretary of state. Sec. 18, (as amended by chapter 131, laws of 1891). In each year every building and loan association organized under the laws of this state and doing business in this or any other territory shall, within thirty (30) days after the end of the year for which its report to its stockholders is made, deposit with the public examiner an annual report of its affairs and operations for said year. Such report shall be veri- fied under oath of the president and secretary or by three directors of the associa- tion, and shall contain the following information: 1. The amount of authorized capital and the par value of eaeh share of stock. 2. The number of shares sold during the year. 3. The number of shares cancelled and withdrawn during the year. 4. The number of shares in force at the end of the year. 5. A detailed statement of the receipts and disbursements during the year. 6. A detailed statement of the assets and liabilities at the end of the year. Such report shall also show the tital amount received as dues on stock under each separate class or kind of stock, and all deductions therefrom for expenses, withdrawals, cancellations, forfeitures, refunded or otherwise, and the amounts, if any, of such profits credited to stock or subject to such credit. The report shall also show the number of shares in force of each monthly issue or series, and the amount expended during the year iu payment of salaries of officers, clerks, agents and all other employes, the amount expended for travelling expenses, rent, postage, including telegraph and express charges, printing, books and stationery, office sup- plies, office furniture, advertising, commission paid agents or other persons, and all other items of expense. Iu addition to such annual report, and six (6) mouths after such report has been submiited to the public examiner, every such association shall prepare a report of its business for the preceding six (6) months, which report shall state the amount of resources included in mortgage loans, the amount of loans on stock of the associa- tion, the amount of loans on other securities, specifying the kind of such securities, the amount of unpaid dues, fines, premiums and interest, the amount due from agents, the amount due from banks, the amount invested iu real estate and secured by foreclosure, the amount iu vested in furniture and fixtures, the amount of* expenses CHAPTER VI. GENERAL LEGISLATION MINNESOTA. 583 paid during the six (6) months, the amount of cash on hand, and the amount of all other resources of the association not enumerated heretofore; and shall state us its liabilities the amount received from stock subscriptions, the amount due from stock delinquent in each class or kind of stock, and the unpaid lines on such stock, the amount set aside as an expense fund from each class or kind of stock, the amount of undivided profits at the beginning of said period of six (6) months, the amount received as interest, premiums, fees, fines or other sources as profits during said period, the amonnt of snch interest and premium delinquent at the end of such period, the amount of all bills payable, and the amount of all other liabilities at the close of said period of six (6) months. Such report shall be made within twenty (20) days after the close of said period of six (6) months, and shall be verified by the secretary and president or vice-president of the association, and within thirty (30) days a statement of the assets and liabilities shall be published at least once in some newspaper in the city or town where the association's principal place of business is, and a copy, of such semi-annual report, verified by the secretary, shall be filed with the public examiner within ten (10) days after the printing thereof. Provided, that all such statements herein required to be made shall be uniform and in accordance with a form to be prescribed therefor by the public examiner, and shall correctly show the proportion which the entire expenses of the association for the term reported bear to the gross earnings of said association for that term; And provided further, that all reports required of building and loan associations organized under the laws of this state and doing a general business, are also required of all foreign building and loan associations doing business in this state, and all the provisions of this act relating to such reports, the filing thereof and the fees therefor, shall apply to such foreign building and loan associations. If any such association shall fail to furnish to the public examiner of the state any report required by this act at the time so required, it shall forfeit the sum of twenty -five dollars ($25) for every day such report shall be delayed or withheld, and the examiner may maintain an action in his name of office to recover such penalty, and the same shall be paid into the treasury of the state and applied to the expenses of the department of said examiner. After receiving such annual report, the public examiner, if satisfied that such corporation has complied with all [the] provisions of this act and i« entitled to do business in this state, shall issue his certificate stating the compliance with such provision, and that such corporation is entitled to do business in this state, which certificate shall be in force for the period of one (1) year, unless sooner rescinded, as provided in this act. The public examiner shall also issue such certificate to a domestic corporation which has complied with the law in regard to its articles of incorporation and the deposit of securities and in all other respects except the filing of said report, which commenced business at some intervening period in any year. Suj:h certificate shall also be issued to any foreign corporation authorized to do business in this state, after complying with the condi- tions of section nine (9) of this act, and shall be in force until the time herein required for snch annual report. Sec. 19, (as amended by chapter 131, laws of 1891). It shall be the duty of such public examiner, at least once in each year and as often as he may deem necessary, to assume and exercise over every building and loan association incorporated under the laws of this state, its business, officers, directors and employes, all the power and authority conferred upon him ov%r banks and other moneyed corporations under the laws of this state; Provided, he shall not have the power to suspend the oper- ations of any such association, except in the manner provided in the next succeeding section. And such public examiner shall have the same supervision and control over the business, within this state, of other corporations of like kind, incorporated under the laws of other states, territories or nations, doing business in this state. Upon the completion of any examination of any association made by said public examiner, or under his direction, the association so examined shall pay to said exam- 584 REPORT OP THE COMMISSIONER OP LABOR. iner a fee, to be determined as follows, viz. : for tlie first one hundred thousand dol- lars ($100,000) of assets, a fee of ten dollars ($10), and for each additional one hun- dred thousand dollars ($100,000) of assets, or major portion thereof, an additional fee of five dollars ($5). Sec. 20, (as amended by chapter 131, laws of 1891). If it shall appear to said public examiner, from any examination made by him, or from any report of any examination made by him, or from the annual report aforesaid, that said corporation is violating its charter or the law, or that it is conducting business in an unsafe, unauthorized or dishonest manner, he shall, by an order under his hand and seal of office addressed to such corporation, direct conformity with the requirements of its charter and of the law. And whenever such corporation shall refuse or neglect to make such report or account as may be lawfully required, or to comply with such order as aforesaid, the public examiner shall file a statement in writing with the attorney general, set- ting forth the facts or particulars in which such alleged violation or refusal consists, which statement shall be prima facie evidence of such violation or refusal, where- npon the attorney general shall institute such proceedings against any such corpora- tions as are now or may hereafter be provided by law in the case of insolvent corporations, or such other proceedings as the occasion may require. And if such corporation shall have been organized under the laws of any other state or territory, said attorney general shall, upon receiving such communication, if in his judgment the facts in the case are sufficient to warrant such action, give notice to such cor- poration that it is no longer authorized to do business in this state, by depositing such notice in the post office, properly sealed and stamped, addressed to said cor- poration at its principal office in the state where incorporated, and thereupon said corporation shall cease to have any right in this state, and said notice may be pub- lished in the same manner as provided in section fourteen (14) of this act. Sec. 21, (as amended by chapter 131, laws of 1891). All officers of any building and loan association governed by this act and doing business in this state, who sign or endorse checks or handle any funds of such association, shall give such bonds or fidelity insurance for the faithful performance of their duties as the board of directors may require, and no such officer shall be deemed qualified to enter upon the duties of his office until his bond is approved by the board of directors and the public examiner, with whom such bond shall be filed; Provided, that the public examiner may require of any association, at anytime, such increase of said bond or additional security thereto or such increase of said insurance as he may deem necessary for the protection of the members. The penalty for the failure of any association to file and maintain the bonds or policy as required by the provisions of this section shall be a fine of one hundred dollars ($100) for each day such association transacts busi- ness after such bond has become due under the provisions of this act. Said bond or policy shall be held in trust for the benefit and protection of the members of such association, and shall be enforceable by any member whenever the cause of action shall accrue thereon. Sec. 22, (as amended by chapter 131, laws of 1891). The name "building and loan association," as used in this act, shall include all corporations, societies, organiza- tions or associations doing a saving and loan or investment business on the build- ing society plan, whether mutual or otherwise, and whether issuing certificates of stock, which mature at a fixed time in advance, or not. Sec. 23, (as amended by chapter 131, laws of 1891). Any officer, director, or agent, or any foreign building and loan association, or any other person whatever, who shall in this state solicit subscriptions to the stock of such association, or who shall sell or issue or knowingly cause to be sold or issued to a resident of this state any stock of such association while such association shall not have had the certificate of the public examiner authorizing it to do business in this state as herein described, or has not deposited, as required by this act, securities of the value and at the time herein prescribed, or before said association has complied with all the provisions of CHAPTER VI. — GENERAL LEGISLATION — MINNESOTA. 585 this act, or when said association shall have been notified and required to discontinue business in this state, as hereinbefore provided, shall be guilty of a misdemeanor, and, upon conviction thereof, shall be punished by a fine of not less than one hundred -dollars ($100) nor more than five hundred dollars ($500), or by imprisonment of not less than ten (10) days nor more than six (6) months, or both such fine and imprison- ment, in the discretion of the court. Sec 21, (as amended by chapter 131, laws of 1891). Any officer, director or ageut of any building and loan association incorporated under the laws of this state, or any other person whatever, who shall sell or issue or knowingly cause to he sold or issued to any person not a resident of the county in which the home office of said association is, located, or in the counties immediately adjacent thereto, any stock of ■said association while said association does not have on deposit with the public examiner or some loan and trust company, as required by this act, securities of the value and at the time hereinafter prescribed, or while. such association shall not have a certificate of the public examiner authorizing it to do business as herein prescribed, shall be guilty of a misdemeanor, and, upon conviction therefor, shall be punished by a fine of not less than one hundred dollars ($100), and not more than five hun- dred dollars ($500), or by imprisonment of not less than ten (10) days nor more than six (6) months, or both such fine and imprisonment, in the discretion of the court. Sec. 25, (as amended by chapter 131, laws of 1891). Any premium for loans made by any association governed by this act shall not be considered or treated as inter- est nor render such association amenable to the laws relating to usury. Sec. 26, (as amended by chapter 131, laws of 1891). Every such association here- tofore organized under the laws of this state or incorporated under this act shall not issue preferred stock, but may issue different series of stock, and all shares of stock hereafter issued shall be of the par value when matured of one hundred dollars ($100) each. Any such association may issue instalment stock to be paid in periodi- cal sums, and prepaid stock upon which a gross sum shall be paid in advance, and which instalment and prepaid slock shall mature when the amount so paid, together with the dividends declared upon the same, shall equal the par value of such stock (and a dividend bearing prepaid stock upon which a larger sum is paid than on the prepaid stock, and upon which a partial dividend may be paid annually out of the full dividend apportioned thereto); and may also issue full paid stock upon which the par value thereof shall be paid in advance, in the certificate of which stock the right of withdrawal may be waived for a definite time, and upon which full paid stock a full dividend or a definite dividend may be paid, which dividend shall in no case exceed the per cent of profits earned by all classes or series of stock at the time said dividend is declared. Any such association may issue from time to time a, lim- ited amount of guaranty or permanent stock, for which the full par value shall be paid at the time of issue or in instalments of five dollars ($5) one ach share, from time to time, at the option of the purchaser, until the full par value of one hun- dred dollars ($100) is paid. Such guaranty or permanent stock to be paid a divi- dend on the amount paid in, such dividend not to exceed the per cent of profits earned by all classes or series of stock at the time such dividend is declared. The balance of profits (if any) and the principal paid on said stock not to be paid to hold- ers of same until all lawful claims of every other class of stock shall have been fully liquidated and paid by such association. Provided, that the total amount of guaranty or permanent stock at its par value issued by any association shall not exceed at the time of its issue twenty (20) per cent of the amount of payments to the credit of all other classes of stock. No building and loan association shall issue any certificate of shares until the terms and conditions thereof shall have been first submitted to and approved by the public examiner. Sec. 27, (as amended by chapter 131, laws of 1891). Any shareholder whose share or shares are not in arrears or pledged upon a loan, shall be entitled to withdraw such share or shares at any time twenty-four (24) months from and after the date of the 586 KEPOKT OF THE COMMISSIONER OP LABOR. first payment on such share or shares, and not before such date; Provided, that the board of directors may, if they deem it to the interest of the association, buy in the share or shares of any shareholder desiring to withdraw at a previous date, paying therefor the sura paid in on said shares, less such discount as may be agreed upon- and which shall not in any case exceed eight (8) per cent. Any such shareholder may give notice of withdrawal in writing to the secretary of said association, and the liability of said shareholder to pay further instalments and right- to share in future profits shall cease with said notice. Such withdrawing shareholder shall bo entitled to receive, at the end of two years from the date of his first payment, all monthly payments made on account of such share or shares (not including admission fees or fines), less the following deductions: Fifty (50) cents on each certificate in payment for issuing and cancelling the same, and two (2) per cent of the amount so paid in, for a contingent or reserve fund, to be used by the association to meet any contingency or loss in its business from the depreciation of its securities or otherwise; Provided, thai if the share or shares on which such notice of withdrawal is given are in arrears, a fine of ten (10) cents per share for each thirty (30) days such share or shares are delinquent may be deducted, in addition to the withdrawal fee and charge for the reserve fund herein- before provided for. All stockholders who do not give the notice as herein provided failing to make payments, shall be subject to a fine of ten (10) cents per share per m.outh for each month such payments are in arrears, for a period of six (6) months after the last payment made (such fines in the aggregate not to exceed the sum of sixty (60) cents per share), and at the end of such period of six (6) months, if arrear- ages and fines remain unpaid, the balance of such monthly payments, if- any, after deducting the certificate fee, contingent fund and fines as herein provided shall be subject to withdrawal at a period not less than twenty-four (24) months from the date of the first payment, on application of the stockholder. If such delinquent shares are not reclaimed or called for within twenty-four (24) months from the date of the last payment, the balance, if any, to the credit of such delinquent shares, shall be transferred to the contingent fund herein provided for, and the delinquent share- holder shall, from the time of such transfer, have no further claim upon the associa- tion on account of such share or shares or the payments made thereon ; Provided, that such shares which may have been pledged as collateral for the payment of a loan and become delinquent, shall be adjusted as provided for in section four (4) of this act. If such withdrawing member has made twenty-four (24) or more payments -and less than thirty-six (36) payments, he shall receive the amounts paid, less the deductions provided for, and interest on such amount at the rate of five (5) per cent per annum for the actual time the association has had the payments in excess of twenty-four (24) months; and if such withdrawing member has made thirty-six (36) or more payments and less than forty-eight (48) payments, he shall receive the amount paid in, less the deductions provided for, and interest on such amount at the rate of six (6) per cent per annum for the actual time the association has had the payments in excess of twenty-four (24) months; and if such withdrawing member has made forty-eight (48) payments and less than sixty (60) payments, he shall receive the amount paid in, less the deductions provided for, and interest on said amount at the rate of seven (7) per cent per annum for the actual time the association has had the payments in excess of twenty-four (24) months; and if such withdrawing member has made sixty (60) or more pay- ments, and the stock has not reached a maturity value, he shall receive the amounts paid in, less the deductions provided for, and interest on such amount at the rate, of eight (8) per cent per annum for the actual time the association has had the payments; Provided, that the net profits of the association for the time ttie association has had the use of all of its funds shall amount to the sum of five (5), six (6), seven (7) and eight (8) per cent per annum, computed on the amounts paid in on all the shares in force at the time such withdrawals are made; and if such CHAPTER VI. GENERAL LEGISLATION MINNESOTA. 587 profits are not sufficient when so computed, then the stock so withdrawn shall be entitled to a rate per cent found to bo earned as not profits during said period, such iuterest payments tobei-n all cases in lieu of such profits; Provided further, that if by reason of extraordinary losses the entire net profit is exhausted, the withdrawing member shall not be entitled to the interest herein named ; and if by reason of extra- ordinary losses the association is compelled to charge such losses against its capit.d actually paid in, all withdrawing shares shall be subject to a pro rata charge of such losses with those remaining undrawn, and in such case all payment herein provided shall be considered of no eifect, and the withdrawing member shall only be entitled tosueh sums as maybe found to bo due Mm after the adjustment of such losses among all hhareholders ; And provided further, that whenever the capital of an association has been impaired by losses iu excess of its reserve fund and profits earned, it shall be tiie duty of the directors to suspend sales of all classes of stock until such losses have been adjusted and distributed pro rata as a charge upon the shares of stock iu force; Ami provided further, that no more than one-half (£) of the amount received in payments on stock by such assoeiatiou in any month shall be used to pay with- drawals, without the consent of the board of directors; And provided further, th.tt any association that has issued shares maturing at a definite period, which finds that its assets will not be sufficient under the mutual system to mature its stock at such period without unusual assessments, may, with the consent of any stockholder, settle and discharge his stock by paying to him at the maturity period, or sooner if its directors deem it practicable, such sum as he had paid into such association for monthly dues and withdrawal assessments, and such proportion of the profits as shall be mutually deemed by them equitable. Sue. 28, (as amended by chapter 131, laws of 1891). Upon the death of a stock- bolder in any such association, his heirs or personal representatives, upon giving sixty (60) days' notice to the association, shall receive from such association the then withdrawal value of his shares, agreeable to the provisions of section twenty- seven (27) of this act. Sue. 29, (as amended by chapter 131, laws of 1891). Every such association shall provide in its bylaws in what manner applications and bids for loans shall be received and who shall be entitled to loans thereunder. Such proportion of the loan fund shall be loaned upon such application as the directors shall deem advisable; Provided, the securities shall be in the character and amount as required by this act; And provided further, that the provisions of this section relating to bidding for loans shall not apply to associations which fix the rate ot interest and premium in any other manner. Sec. 30, (as amended by chapter 131, laws of 1891). All associations governed by this act may, in payment of their expenses, use a sum not to exceed fourteen (14) per cent of their receipts for payments on stock. Whenever a distribution of profits is made, and at least twice iu each year, each association shall charge against the profits accrued four-fifths (i) of such expenses; or, if there is not a sufficient amount of the profits to pay such part of the expense incurred, then the total amount of profits shall be so charged with expense, and the balance of said four- fifths (!) of such expenses shall be carried as " expenses paid " until the next report or distribution of profits. The remaining one-fifth (£■) of sueh expenses shall, at the time of making the charges to profits, as herein provided, be carried to an account to be called '• permanent expense/' which shall finally be paid as follows: When- ever any share of stock has reached a maturity value, the share of permanent expense contributed by said share of stock shall be charged against it, and the sum found after deducting such share of permanent expense shall be deemed the true maturity value of said stock. All fees and fines received by any association may be used for the payment of expenses, in addition to the amount herein provided for. Sec. 31, (as amended by chapter 131, laws of 1891). Not more than three (3) of the officers of any such association, incorporated under the laws of this state, 588 REPORT OF THE COMMISSIONER OF LABOR. shall be members of the board of directors of such association; Provided, that no change shall be required under this section until the next annual meeting of such association. . . Sec. 32, (as amended by chapter 131, laws of 1891). All corporations organized in this state, and doing business in this or any other state as building and loan asso- ciations, shall comply with and be subject to all the provisions of this act within sixty (60) days after its passage, and shall be entitled to all the privileges and bene- fits thereof, without reincorporating. Sec. 33, (as amended by chapter 131, laws of 1891). This act shall not apply to any association organized under the laws of this state which confines its loaning and business operations wholly to its county and the counties adjacent and adjoin- ing thereto; Provided, that any such association heretofore incorporated which desires to hereafter confine its business to adjacent counties, as aforesaid, may file with the public examiner a statement to that effect and also containing the names of those holding, the amount held by them of the stock of said association outside such counties, and so long as such association thereafter confines its sales of stock within the limits aforesaid it shall not be subject to the provisions hereof; and any sales of stock outside the limits of said counties, made after filing of such statements by any omcers, director or agent of any association, shall subject such person to all the penalties prescribed in section twenty-four (24) of this act ; Provided further, that nothing in this section shall be so construed to prevent the bona fide sale or transfer of the individual stock of any member of such association. Sec. 34, (as amended by chapter 131, laws of 1891). Every such association shall be assessed for and pay taxes upon its office furniture and fixtures and all real estate acquired in the course of its business. Sec. 35, (as amended by chapter 131, laws of 1891). The amount standing to the credit of each member of any such association, upon its books, shall be considered and held as the individual credit of such member, and each member shall list the shares held by him for taxation, at their real value in money, in the county of his residence, the same as other credits are listed, except shares upon which loans have been made or money advanced by the association. Sec. 36, (as amended by chapter 131, laws of 1891). It shall be the duty of every such association not incorporated under the laws of this state to make and forward to the public examiner, upon the first (1st) day of May in each year, a statement con- taining the names and the withdrawal value of all its stock held and owned by resi- dents of this state, together with the place of residence of every such stockholder, except those having loans as provided in the foregoing section ; and it shall be the duty of the said public examiner to make out and forward to the county auditors of the proper counties a statement of the stock held by them. And it shall be the duty of the said county auditors, upon receiving the statements provided for in this and the foregoing sections, to furnish the assessors of each town in his county having such stockholders with the names of such stockholders and the value of their stock as given in such statements, for the purpose of assessment. Sec. 37, (as amended by chapter 131, laws of 1891). Any such association shall have authority to consolidate with one or more other corporations organized for the same purpose, upon such terms as may be agreed upon, when such consolidation shall be deemed advisable by a majority vote of its members, and to transfer to such consolidated corporation its entire assets, subject to the vested right of its members. Sec. 38, (as amended by chapter 131, laws of 1891). All securities, cash, mort- gages, certificates, bonds, notes, receipts, statements, and records heretofore depos- ited with or received by the state auditor pursuant to law shall, upon the passage of this act, be transferred and delivered by him to the state treasurer, who shall receive the same, and who, with his sureties, shall be liable for the safe keeping thereof. The treasurer shall deliver up such securities only upon the written order of the public examiner, except in pursuance of this act. All securities of such asso- CHAPTER VI. GENERAL LEGISLATION MINNESOTA. 589 ciation heretofore required to be deposited with the state auditor shall be hereafter deposited as in this act provided. Upon filing any mortgage, the treasurer shall receive a fee of fifteen (15) cents therefor, and upon withdrawal of the same he shall receive a fee of ten (10) cents therefor, to be paid by the association so filing or withdrawing it. Skc. 39, (as amended by chapter 131, laws of 1891). The public examiner and state treasurer respectively shall retain all the fees by this act provided to be paid to them or either of them in lieu of any allowance for clerk hire made necessary by the extra labor imposed by this act, and they are respectively hereby authorized and empowered to make and execute any and all orders, releases, or other papers which the state auditor was heretofore authorized to make or execute in the premises. Sec. 40, (as amended by chapter 131, laws of 1891). At least thirty (30) days prior to any annual or special meeting of the stockholders of any such association governed by this act, a notice stating the time and place of such meeting shall be deposited in the post office at the headnuarters of such association, directed to each member to his address as the same appears at such time on the books of the association ; and when so deposited, postage prepaid, shall be deemed a legal and sufficient notice of any such meeting; and there shall be attached to and accompany such notice any proposed amendment or amendments to the articles of incorporation of any such association, and a statement of any officers to be elected at such meeting. Any amendment so proposed and of which such notice shall have been duly given may be adopted at such meeting by the vote of two-thirds of the stock represented and voting thereat. Any member of such association entitled to vote at such meeting may vote in person or by proxy ; but no person shall be appointed such proxy who shall not reside in the same county where the stockholder so appointing him resides at the time of such appointment, except that stockholders residing outside of this state may appoint proxies residing in any county in this state ; and no person shall be appointed proxy in any case who is at the time an officer, agent or employ^ of any such association ; and no person shall hold proxies to exceed five hundred (500) votes for any such meeting. Upon all questions to' be voted upon at such meeting the vote shall be taken by calling the roll of persons entitled to vote thereat, with the number of votes which each is entitled to cast, and the votes shall be by written or printed ballot, the form for which may be prescribed by the board of directors. GENERAL LAWS OP 1891. Chapter 27. Section 1. To insure the thorough supervision of the affairs and the safety of the funds of mutuar building associations in this state, every officer of any such associa- tion is hereby made subject to the same duties and penalties made applicable to the officers of public institutions of this state by an act of the legislature of this state, approved March twelve (12), one thousand eight hundred and seventy-eight (1878), entitled "An act to provide for the appointment and to prescribe the duties of a public examiner for the state of Minnesota," and also the acts of said legisla- ture amendatory thereof; and the public examiner of this state is hereby given the same powers and jurisdiction, and there is hereby imposed upon him the same duties relative to mutual building associations or societies as are now imposed upon and granted to the public examiner of this state relative to the several public institutions of this state ; Provided, nothing in this act shall affect or apply to any society or association which has its principal place of business in a city or village containing jess then ten thousand (10,000) inhabitants, and this act shall apply only to local building associations. Sec. 2. After September first (1st), one thousand eight hundred and ninety-one (1891), no building association shall receive any moneys or transact any business in 590 REPORT OF THE COMMISSIONER OF LABOR. this state, except to settle and close its unfinished affairs, unless it shall have obtained from the said public examiner a certificate stating its compliance with the provisions of this section; and thereafter shall keep said certificate conspicuously posted in the office of said association. Such certificate shall be iu force for one (1) year, and fur one (1) year only, and a new certificate shall be obtained from year to year, and for each such certificate such building association shall pay into the treasury of the stale of Minnesota a license fee of ten dollars ($10) before receiving the same. In making application for and as a basis for such certificate, the secretary and a majority of the directors of such association shall m'ake out and report under oath to the public examiner a statement showing: 1. The full corporate articles of such association and a full copy of its bylaws then in force. 2. The name and address of each officer and the salary or fees received by each officer for- the twelve (12) months next preceding its last annual meeting. 3. A copy of its last report. Within thirty (30) days after receiving the aforesaid statement, the public exam- iner shall issue the yearly certificate above named; Provided, that if it appears from such verified statement that the association applying for such certificate is not com- plying with the law'applicable thereto and such rules as said examiner may adopt for said societies, the public examiner shall refuse to issue such certificate. Said certificate may bo recorded in the office of the register of deeds in the county where said society has its regular place of business. Sec. 3. No corporation doing or claiming to do the business of a mutual building society shall have authority to engage in the business of buying and selling or deal- ing in real estate; Provided, however, that nothing in this section shall be taken as prohibiting any such association from securing the obligations due it and the repay- ment of its loans by taking mortgages on real estate, as provided by the laws and the statutes of this state or from purchasing, as provided by law, at any sheriffs, judi- cial or other sale, public or private, any real estate upon which such association may have or hold any mortgage or judgment or lien or other incumbrance, or in which such association may have an interest, or from selling, conveying, holding, leasing, mortgaging at pleasure any real estate so purchased or acquired ; Provided alio, that nothing herein contained shall prohibit any such association from obtaining or acquir- ing title, by deed or otherwise, to real estate ou which it may hold any lien or security in whole or in part satisfaction thereof. Sec. 4. 411 mutual building associations organized or to be organized under the laws of this state are hereby prohibited from hereafter creating or issuing any pre- ferred or non-contributing stock, except in payment of matured contributing stock, and no stockholder iu any such association shall have more than one vote. But this section shall not limit the power of such associations to create and issue different series of stock. Sec. 5. Whenever any mutual building association shall declare any of its stock forfeited for non-compliance of the owner with any of its rules, bylaws or regula- tions, the said stock shall be sold at a regular mouthly meeting of said association to the highest bidder; and it is made the duty of the officers of said association at any such sale to bid in the stock so offered at not less than its then withdrawal value, and thereupon the said stock shall be cancelled ; but if a higher bid is received the person making the highest bid shall have said stock issued or assigned to hiiu, and no fines or penalties shall be charged against any stock for more than twelve (12) months. Sec. 6. Any shareholder in any such association whose share or shares are not iu arrears and not pledged, may withdraw said share or shares from his association, at any time after it is six (6) months old, by giving at" least sixty (60) days' notice in writing to the secretary of his intention so to do; and, upon the receipt of such notice by the secretary, the membership represented by the share or shares men- CHAPTER VI. GENERAL LEGISLATION MISSISSIPPI. 591 tioned in such notice shall cease; Provided, not exceeding one-half (£) of the subse- quent monthly receipts of such association shall be used to satisfy withdrawn stock, unless the directors thereof otherwise provide. Pkc. 7. Every corporation hereafter doing business in this state which by its cor- porate articles or by its bylaws, or printed literature, claims to do or se-»ks to do the business of a mutual building association, or u, mutual building society, shall bo held to come under the benefits, provisions and restrictions of this act; Provided, however, that nothing in this act shall be taken or construed as iu any way changing or affecting chapter two hundred and thirty-six (236) of the general laws of this state for the year one thousand eight hundred and eighty-nine (1889), entitled " An act relating to building, loan ami savings associations doing a general business.'' Sec. 8. For the services required under this act the public examiner shall receive annually a sum equal to the aggregate amount paid into the treasury of this state under this act, said sum so paid to be in addition to such other compensation as he may be entitled to receive under any law or laws of this state, the same to be paid by the state treasurer in the same mauner as other salaries of state officers are paid. MISSISSIPPI. ANNOTATED CODE OF 1892. Section 851. A loan of money shall not be made by a corporation to any stock- holder therein ; * * * but banks and building and loan associations may loan moi.ey to their stockholders. * * * Sec. '3317. A tax on privileges is levied as follows, to wit: Sue. 3330, (as amended by act of February 10, 1894). On each building and loan association which loans money exclusively to its members, whose stock or shares represent monthly payments not exceeding five hundred dollars, $25. On same whose stock or shares represent monthly payments of five hundred dollars or more and less than one thousand dollars, $50. On same whose stock or shares represent monthly payments of one thousand dollars or more and less than fifteen hundred dollars. $75. On same whose stock or shares represent monthly payments of fifteen hundred dollars or more and less than two thousand dollars, $lu0. On same whose stock or shares represent monthly payments of two thousand live hundred dollars, $150. On same whose stock and shares represent monthly payments of three thousand dollars or more, $200. Which shall be in lieu of all other taxes, whether state, county or municipal, except on real estate; but only ten shares of stock, exclusive of the shares deposited with the association for loans, shall be exempt from taxation for anyone person, and all shares in excess of ten owned by one person shall be taxed as solvent credits. Each building and loan association which does not require members to forfeit any part of their payments for inability or failure to pay dues, incorporated by any foreign country or other state of ihe Union, or whose principal office and domicile is not within this state, which shall establish agencies or branches in this state, shall be liable to a separate tax on each branch office or agency, and each of said agencies or places of doing business or collecting dues shall be considered, for the purpose of taxation, as a separate and distinct building and loan association, and shall pay the tax above required. But any association may pay a privilege tax of five hundred dollars and establish branches at will. 592 REPORT OF THE COMMISSIONER OP LABOR. MISSOURI. REVISED STATUTES OF 1889. Section 2808. Any ten or more persons in any city or county of this state, who shall have associated themselves by articles of agreement in writing, as provided by law, for tho purpose of forming a mutual saving fund, loan or building association, may be incorporated under any name or title designating such business: Provided, that no mutual saving fund, loan and building association or company, association or corporation, organized under the laws of any other state or territory to carry on a business of a like character to that authorized by this article, shall be allowed to do business or sell their stock in this state without first having deposited with the state treasurer the sum of one hundred thousand dollars, as a guaranty fund, for the protection and indemnity of the citizens of the stale of Missouri with whom such companies, associations or corporations shall do business ; the fund so deposited to be paid by the treasurer to the citizens of Missouri, only, and not then until, upon proof filed with the treasurer, he shall be satisfied that the claimant has sustained some loss by reason of his having done business with such foreign company, associ- ation or corporation. Any person or persons who shall be found in this state as agent or in any other capacity representing any such foreign company, association, or corporation which has not complied with the provisions of this section shall be deemed guilty of a misdemeanor, and upon conviction shall be punished by a fine not exceeding one thousand dollars, or imprisonment in the county jail not exceed- ing twelve months, or by both such fine and imprisonment. Sec. 2809. The articles of agreement mentioned in section 2808 shall set out: First, the corporate name of the proposed corporation, which shall not be the name of auy corporation heretofore incorporated in this state for similar purposes, and actually carrying on business ; second, the name of the city or town and county in which the office of the corporation is to be located; third, the amount of the capital stock of such corporation ; fourth, the number of shares into which the capital is divided, and the par value of each share; fifth, the number of shares subscribed for, and that the first payment has been made thereon; sixth, the names and places of residence of the several shareholders, and the number of shares subscribed by each; seventh, the number of directors or managers, and the names of those agreed upon for the first year; eighth, the number of years the corporation is to continue, which in no case shall exceed fifty years ; ninth, the purposes for which the association is formed. The articles of agreement shall be signed and acknowledged by any ten of tho parties thereto, recorded in the office of the recorder of deeds of the county or city in which the corporation is to be located, and then filed and recorded in the office of the secretary of state. Sec. 2810. Tho capital stock of any corporation created under this article shall at no time consist of more than 10,000 shares of not less than $100 each. The instal- ments on these shares are to be paid at such time and place as the bylaws shall appoint. The bylaws or the board of directors may, if they deem it advisable, allow interest not exceeding eight per cent on such instalments as are paid in advance. Every share of stock shall be subject to a lien for the payment of unpaid instalments, fines and other charges incurred thereon under the provisions of the charter and bylaws. The bylaws may prescribe the form and manner of enforcing such lien. New shares of stock may be issued in lieu of the shares that have been redeemed, forfeited or matured. The stock may be issued in one or in successive series, in such amount and at such time as the board of directors, the shareholders or the bylaws may determine. Any shareholder, or the legal representative of any deceased shareholder, wishing to withdraw from the said corporation, shall have power to do so, by giving thirty days' notice of such intention to withdraw, such notice being given at a regular meeting of the board of directors. On the day following the next regular meeting, or at any CHAPTER VI. GENERAL LEGISLATION — MISSOURI. 593 time thereafter, the member so withdrawing, or if deceased, his legal representative, Bhall he entitled to receive, on demand, the amount paid in by him or her, and such proportion of the profits as the bylaws may determine, less all fines and other charges. Should there have been, however, a net loss, instead of a net gain, then such with- drawing shareholder shall receive the actual amount paid, less his proportion of such net loss. At no time, however, shall more than one-half of the unloaned funds in the treasury of the corporation be applicable to the demands of the withdrawing share- holders without the consent of the board of directors. No shareholder shall be entitled to withdraw whose stock is pledged as security for a loan, either from the association or from any other party. In case any member not having a loan from the association shall fail to pay dues or fines for six mouths, then the shares of such member may, at the option of the board, be forfeited by paying back to or crediting such member with the same amount as he would be entitled to if he had voluntarily withdrawn, less all fines and charges due. Should a member fail entirely in his pay- ments for twelve months, then his shares shall ipso facto be cancelled, and he shall be credited with the same amount as if he had voluntarily withdrawn, less all fines and charges to date, and shall at once cease to be a member of the association. The amount so placed to his credit, either at six or twelve months, shall be paid to him or his legal representatives on demand, but shall not bear interest. Sec. 2811. Every such corporation shall only lend its funds on real estate security, or on the security of its own shares of stock, such loans being made upon the terms and conditions and in the manner which shall be specified by its bylaws. No loans shall be made on shares of stock to an amount exceeding the instalments actually paid on such shares. Such corporation may, however, employ a portion of its capital stock in the purchase of real estate and the erection of buildings thereon for rent or otherwise. If at any time it shall happen that there is no demand by the share- holders for the funds of such corporation, then such funds may be loaned to others who are not shareholders, at such rate of interest as the directors may fix. No loans shall be made to members or others on personal security or on leasehold. Sec. 2812. The directors of the corporation shall hold stated meetings, at which such sums of money as they may determine shall be offered for loan to all the mem- bers in open meeting. The shareholder who shall bid the highest for the preference, or priority of loan, shall be entitled to receive a loan whose amount shall not exceed the number of shares of stock held by such shareholder, multiplied by the par value thereof. A shareholder may, however, borrow on only a part of his shares, and also on such fractional part of a value as the bylaws may provide. Good and ample security shall be given by the borrower, to secure the monthly payments contracted to bo paid by the borrower. In case the borrower shall neglect to offer security, or shall offer security that is not approved by the board of directors, at such time as the bylaws may prescribe, ho or she shall be charged with any expenses incurred, and with interest up to the next regular meeting, when the money so loaned shall revert to the association. If at any time the unemployed funds on hand amount to one thousand dollars, the board of directors are authorized, if they deem it to the interest of the association, to draw lots among all the shares that have not borrowed, and compel them either to borrow in accordance with the bylaws, or to else sell their shares to the association at same value as received by a member who withdrew voluntarily. The manner of drawing such lots shall be fixed by the bylaws or the board of directors. Sec. 2813. A borrower may repay a loan at any time. In case of the repayment of a loan before the expiration of the one hundredth month after the organization of the corporation, there shall be refunded to such borrower one per cent of the pre- mium paid for every mouth of the said one hundred months then unexpired. If the borrower fails totally in his payments during the space of six months, or if the bal- ance due by such borrower has been allowed to accumulate until it equals the sum of six months' dues and interest, then the board may, in its discretion, proceed at H. Ex. 209 38 594 REPORT OF THE COMMISSIONER OF LABOR. any time to advertises for sale, under deed of trust, the property pledged to the asso- ciation by such borrower. In case of sale under deed of trust, the borrower shall be charged with the full amount of loan made to him, together with the dues, inter- est and fines for which he is delinquent. He shall, on the other hand, as an offset, be credited with the same value of bis pledged shares as if he had voluntarily with- drawn same, and shall also be credited with one per cent of the premium paid for every month of the one hundred months yet unexpired since the organization of the association. If the amount realized from the sale of the property pledged for the loan, less all legal charges, shall exceed amount thus found due, the balance shall be paid to the delinquent borrower. Sec. 2814. No premiums, finis or interest on such premiums that may accrue to the said corporation according to the provisions of this article shall be deemed usurious, and the same may be collected as debts of like amount arc. now by law collected. Sec. 2815. No corporation created under this article shall cease or expire from neglect, on the part of the corporators, to elect officers at the time mentioned in their articles of agreement or bylaws. All officers elected by such corporation shall hold their offices until their sucessors are duly elected and qualified. Skc. 2816. Any savings fund, loan or building association, incorporated under the laws of this state, is hereby authorized and empowered to-purchase at any sheriff's or other judicial sales or at any other sale, public or private, any real estate upon which such association may have or hold any mortgage, j udgment, lien or other encumbrance, or in which said association may have any interest. The real estate so purchased, or any other that such association may hold or be entitled to at the passage of this article, the association is hereby empowered to sell, convey, lease or mortgage, at pleasure, to any person or persons whatsoever. Sec. 2817. Whenever all the shares of any series of such corporation then actually in force shall have been redeemed by loans or advances thereon, or whenever the funds and property of the association shall be sufficient to pay the debts of such corporation and upon the unredeemed shares of such series, the value thereof, as fixed by the bylaws of such corporation, then the debts of such corporation shall first be paid, and the deeds of trust of borrowers shall be released and the free or unborrowed shares shall be paid off. The free or unborrowed shares shall in no case receive any more than the face value of their shares, less the average premium paid by the borrowers of the association up to date. Sec. 2818. No member of any such corporation, who has borrowed money from the same, shall be allowed to vote, on any question affecting the claim of such corpo- ration against himself. Sec. 2819. Every such corporation shall, semi-annually, in the months of January and July, publish in ono or more newspapers in the city or county where such corporation is located, a statement, verified by the oath of its president or secretary, setting forth its actual financial condition and the amount of its property and lia- bilities, under a penalty of $500 to the state, to be recovered by indictment against the president, cashier or director. It shall also deposit a copy of said statement, verified as aforesaid, in the office of the secretary of state. Sec. 2820. Every such corporation may extend the time of its duration so as to mate the entire period of its corporate existence not to exceed fifty years, by a vote of three-fourths of its stockholders, at any meeting called for that purpose— notice of such meeting flist having been given as provided in sections 2499 and 2500 of this chapter, and by payiog into the state treasury a fee of five dollars for a certificate of such extension. Sec. 2820a, (added by act of March 31, 1893, page 126, laws of 1893). When the unpledged shares in a series shall reach the maturity value thereof, all payments of dues thereon shall cease, and the holders thereof shall be entitled to receive.and shall then be paid out of the funds of said corporation, the maturity value thereof for each share so matured and held: Provided, however, that if there are not funds then on CHAPTER VI. GENERAL LEGISLATION MONTANA. 595 hand sufficient and applicable to the payment and redemption of said shares, then such shareholder shall he entitled to receive interest on the sum then due them, from the date of the maturity of said shares to the date of redemption, at a rate of not less than six nor to exceed eight per cent interest per annum, as may be provided by the bylaws of said association; And provided further, that at no time shall more than half of the funds in the treasury be applicable to the payment or redemption of said matured shares, unless by consent of board of directors. Sec. 7539. All parties holding stock or shares as owners or in trust in any building and loan association in this state, on which no loan has been obtained from such asso- ciation, shall be required to give a just and true list of the same to the assessor, with the actual cash value of each share on the first day of June in each year, and the tax shall be levied upon said shares, and collected from such holder or depositor of the same, as taxes on other personal property ; and any failure on the part of such owner holder or depositor of such shares shall subject such holder to the same penalties now provided for failure to give to the assessor a true list of all taxable property, veri- fied by affidavit. Sec. 7540. The taxes assessed on shares of stock embraced in such list shall be paid by the corporations, respectively, and they may recover from the owners of such shares the amount so paid by them, or deduct the same from the dividends accruing on such shares and the amount so paid shall be a lien on such shares, respectively, and shall be paid before a transfer thereof can be made. Sec. 7541. If the president or other chief officer of any such corporation fail to comply with the provisions of this article, he shall forfeit to the state the snm of one thousand dollars, to be recovered by indictment in any court of competent juris- diction. MONTANA. COMPILED STATUTES OF 1887. Fifth Division — General Laws. Section 635. When any five or more persons may desire to become incorporated as a mutual building and loan association, for the purpose of aiding iu building homesteads and loaning money to the members of such association, only they shall make a certificate to that effect in writing, signed and acknowledged before a proper officer in the manner provided for the acknowledgment of deeds, in which certificate shall be stated the name of such association and the purpose for which it is formed, the amount of its capital stock, the number of shares and the par value of each share of its capital stock, the name of the city, town or village, and county where the principal part of its business shall be transacted; the term of its existence and the name of nine persons who shall act as trustees and manage the affairs of such asso- ciation until the first annual meeting of its stockholders, which certificate shall be filed in the office of the secretary of the territory. Skc. 636. Upon the filing of such certificate in the office of the secretary of the territory he shall issue to such persons named therein as trustees a license to take subscriptions for the capital stock of such association at such time and place as they may determine : Provided, that such license shall not be issued to the trustees of more than one association having the same name. Sec. 637. When fifty shares or more of the capital stock of such association shall be subscribed for, the said trustees shall call a meeting of the subscribers for the purpose of electing nine trustees, adopting bylaws for such associations and the transaction of such other business as may be required, which meeting shall be the first annual meeting of the stockholders of such association; notice of such meeting shall be given by depositing in the post office at the place where the principal part of the h usiness of such association is to be transacted, at least five days prior to 596 REPORT OF THE COMMISSIONER OF LABOR. holding the same, a written or printed notice stating the time, place and object of such meeting, enclosed in an envelope or wrapper, and addressed to each subscriber, with postage thereon paid. At such meeting there shall be elected nine trustees by a vote of a majority of the persons who have subscribed for stock, represented at such meeting by subscribers in person or proxy. The trustees so elected by a majority of the stockholders shall be divided into three classes, as follows : The term of office of the three first elected shall be for the period of three years; the term of office of the second three elected shall be for the period of two years, and the term of office of the three last elected shall be for the period of one year. Thereafter, annually, at a~ meeting of the stockholders, three trustees shall be elected whose term of office shall be for the period of three years. Skc. 638. In case of a vacancy in the office of any trustee, the remaining trustees may fill the same by appointment until the first annual meeting thereafter, when such a vacancy, if the term be not expired, shall be filled by the election of the stock- holders. Sec. 639. The trustees and officers of such association shall be stockholders therein. Sec. 640. Within ten days after holding said first annual meeting of stockholders, the trustees licensed as provided in section 636 of this act shall make a certificate showing the fact of holding such annual meeting pursuant to call, and notice given as provided in section 637 of this act, the names and respective terms of office of the trustees elected thereat, the names of the subscribers for the stock of said associa- tion and the number of shares subscribed for by each, which certificate shall be sub- scribed and verified by at least a majority of such licensed trustees and filed in the office of the secretary of the territory. Sec. 641. The secretary of the territory shall, upon receiving the certificate pro- vided in section 640, file and preserve the same in his office and thereupon issue a certificate of the complete incorporation of such association attaching thereto and making part thereof a copy of all papers filed in his office relating thereto under the provisions of this act, duly authenticated under his hand and the seal of the territory ; and the same shall be recorded at the expense of said association in the office of the county clerk of the county wherein the principal part of the b usiness of such associa- tion is transacted; and the recording thereof shall fully incorporate such associa- tion. Sec. 642. In case such association be not fully incorporated as provided in this act within one year after the issuing of said license, the same shall be deemed revoked and any proceeding thereunder shall be unlawful. Sec. 643. Every corporation formed under the provisions of this act has power to have succession by and in its corporate name for the period limited in its certificate of incorporation, to sue complain implead or defend in any court of law or equity, and may be sued or impleaded in any court of law or equity ; to make and use a com- mon seal and alter the same at pleasure, to purchase, hold, and convey at pleasure such real estate and personal property as the purposes of such corporation may require ; to make bylaws not inconsistent with the provisions of this act, or any existing laws for the management of its property, the regulation of its affairs, and the transfer of its stock; Provided, that all its bylaws shall be approved by the holders of at least a majority of its stock subscribed for and every corporation formed under the provisions of this act shall have and may exercise such further powers and functions as are herein granted or necessarily implied by the provisions of this act. Sec. 644. The management and control of the property and business of every asso- ciation formed under the provisions of this act shall be vested in its board of trus- tees, a majority of whom shall constitute a quorum for the transaction of business. Sec. 645. Such association shall have a president who shall be chosen from the board of trustees, a secretary and treasurer, and such other officers as provided by its bylaws. All of snch officers shall be chosen by the board of trustees in such man- CHAPTER VI. GENERAL LEGISLATION MONTANA. 597 ner and for such terms as may be prescribed by its bylaws : Provided, that neither the trustees nor any other [officer] of such association shall be paid any compensa- tion for services except its secretary, who shall receive such compensation as pro* vided by the bylaws. Sec 646. The treasurer of such association shall give a bond in a sum equal to double the amount of funds of such association which may come into his possession, conditioned for the safe keeping and the delivery thereof, according to the orders of the board of trustees, the amount of which bond shall be fixed by the board of trus- tees. Such bond shall be signed by at least three good and sufficient sureties, approved by the board of trustees. The secretary may also be required to give bouds for such amount as the trustees may determine. Sec. 647. The par value of the shares of stock shall be one hundred dollars each, and shall be deemed personal property, transferable upon the books of the corpo- ration in such manner as may be provided by the bylaws. Subscriptions therefor shall be made payable to the association in such periodical instalments and at such times as shall be prescribed by the bylaws : Provided, that no periodical payments shall be required exceeding two dollars on each share, and every share of such stock shall be subject to a lien for the security of unpaid instalments and other charges incurred thereon under the provisions of the bylaws, and the bylaws shall prescribe the manner and the time of enforcing such lien. New shares of stock may be issued in lieu of shares withdrawn or forfeited. The stock may be issued in one or in suc- cessive series in the manner an d in such amount not to exceed the total capital stock as the board of trustees may determine. Sec. 648. Any stockholder desiring to withdraw from said corporation, shall have power to do so by giving sixty days written prior notice thereof, and at the expira- tion of sixty days from date of service of such notice, such stockholder shall be enti- tled to receive the amount paid in by him, and interest thereon at such rate per annum or such proportion of the profits thereon as the bylaws may determine, less any ini- tiation fee, and all fines and other charges assessed against said stock pursuant to the provisions of the bylaws : Provided, that at no time shall more than one-half of the funds in the treasury of the corporation be subject to the demand of withdraw- ing stockholders without the consent of the board of trustees, and that no stock- holder shall be entitled to withdraw whose stock is held in pledge for security. And provided further, that the withdrawing stockholders shall be paid in the order in which notice of withdrawal had been given. That upon the death of a stockholder, his or her legal representatives shall be entitled to the full amount paid in by such stockholder on all shares not borrowed upon or pledged to the corporation as collat- eral security and interest at such rate as prescribed by the bylaws, first deducting all fines and charges that may be due on "said stock, but no fines shall be charged on the stock of a deceased member from and after his or her decease, unless the legal representative of such decedent assumes the future payment of the dues and assess- ments thereon. Sec. 649. The board of trustees shall hold such stated meetings not oftener than once each month, as the bylaws may prescribe, at which meetings the money in the treasury, if one hundred dollars or more, shall be offered for loan in open meeting and the stockholder who shall bid the highest premium or interest for the preference or priority of loan, shall be entitled to receive a loan not exceeding one hundred dol- lars per each share of stock held by such stockholder less the premium bid. Sec. 650. Thefunds of such corporation shall be loaned only to bona fide stockholders therein, and in no case shall a loan be made exceeding one hundred dollars per each share of stock held by the borrower, but the bylaws of every 6uch corporation may prescribe such fractional part of one hundred dollars per share as may be loaned to any stockholder. Sec. 651. Every loan shall be secured by proper mortgage or conveyance of good and sufficient real estate, unencumbered except by prior loans of such corporation ; 598 REPORT OF THE COMMISSIONER OP LABOR. Provided, that the shares held by any stockholder may be received as security to take the amount of tho withdrawal value thereof. Sec. 652. In case of non-payment of instalments or interest and fines, by borrow- ing stockholders, for the space of three months, payment of principal and interest and fines, without deducting the premium paid or the interest thereon, may be enforced by proceedings against the securities, according to law, upon the order of the board of trustees. Sec. 653. A. borrower of money from such association may repay the same at any time, and in that event shall be allowed such a proportionate amount of the premium paid at the time of borrowing as the board of trustees may deem equitable or the bylaws may prescribe; Provided, that the amount of premium so refunded shall be determined as nearly as practicable on the basis of the maturity of the series of stock in which the shares loaned upon were issued. Sec. 654. Associations incorporated under the provisions of this act shall not cease or expire from neglect to elect trustees or other officers at the time mentioned in this act or its bylaws, and all officers elected by such corporation shall hold their offices until their successors are duly elected and qualified. Sec. 655. Any association incorporated under the provisions of this act, is hereby authorized to purchase at any sheriff's or other judicial sale, or at any other sale, public or private, any real estate upon which said corporation may have or hold any mortgage, lien or encumbrance, or in which said corporation may have an interest,, and the real estate so purchased to sell, convey, lease or mortgage at pleasure. Sec. 656. Any association incorporated under the provisions of this act may extend the duration of time for which [such] association was organized by a majority of the capital stock of such association at any annual or called meeting of the stock- holders thereof. Thereupon the board of trustees shall cause to be made a certifi- cate showing the fact of holding such meeting, the whole amount of the stock of such association outstanding, the names and amounts held by each stockholder represented at such meeting in person or by proxy, the whole amount voted in favor of the extension of the existence of such association and the time to which the same was so extended, which certificate, duly signed and verified by a majority of such board of trustees, shall be filed in the office of the secretary of the territory, who shall thereupon issue his certificate certifying and showing the extension of time of duration of such association, and the same shall be recorded as provided in section 641 of this act. Sec. 657. Any corporation of the nature provided for in this act, heretofore incor- porated under the laws of this territory and desiring to extend the duration of time for which it was incorporated, is hereby authorized so to do in the manner provided in section 656 of this act, and thereupon it shall be deemed as incorporated under and thenceforth shall be governed by provisions of this act in the same manner as if said association had been originally incorporated hereunder so far as the same may be applicable to the conditions thereof. Sec. 658. Nothing in this act shall be construed to affect the validity of any of the operations of any building and loan association incorporated under the laws of this territory prior to the passage of this act. Sec. 659. Any corporation of the nature herein provided for, now existing in this territory, desiring to reform its condition and make. the same conform to the provi- sions of this act, shall first obtain and preserve the written consent of all its stock- holders thereto, and may thereupon call a meeting of the stockholders in the manner provided in section 637, and at such meeting elect a board of nine trustees, as therein provided, and make its bylaws and all other conditions of such corporation couform to the provisions of this act; and thereupon a majority of the trustees managfng the affairs of [the] corporation thus reformed, shall make and file in the offipe of the secretary of the territory such a certificate as required in section 640, together with a certificate conforming to all the requirements of section 635, except the names of CHAPTER VI. GENERAL LEGISLATION MONTANA. 599 the persons " who shall act as trustees and manage the affairs of such association until the first annual meeting." Upon receiving the certificate mcutionetl in this section the secretary of the territory shall issue his certificate in the manner pro- vided in section 641, and in addition shall state that such corporation existed there- tofore and is thereby reformed to conform to the provisions of this act : Provided, the name of such corporation shall not be changed. Sec. 660. The validity of all proceedings, contracts, -deeds, mortgages or other con- veyances or contracts of such corporation shall in no wise be affected by its reforma- tion as provided in section 659 of this act. Sue. 661. No building and loan association incorporated in accordance with the provisions of this act or previously organized stall be subject to taxation for mort- gages held by such association upon property that is assessed and taxed in the hands of the mortgagors. Sec. 662. When any building and loan association incorporated in accordance with the provisions of this act, or previously organized, shall furnish to the county clerk and recorder of the county in which its principal place of business is located abound volume of blank mortgages such as are used by such association, the fee for filing, indexing and recording of mortgages executed to such association shall thereafter be one dollar and fifty cents, and no more. Sec. 663. Any association incorporated under the provisions of this act, or hereto- fore incorporated and reformed to comply with the provisions of this act, may be dissolved by the decree of* the district court having jurisdiction in the county where the principal place of business of such association is located in the manner provided in section 664 of this act. Sec. 664. Any corporation mentioned in section 663 desiring to "be dissolved, may, at any meeting of its stockholders, vote upon the proposition of its dissolution ; and if it be found that a majority of its capital stock owned by individual stockholders is voted in favor of its dissolution, the trustees may file complaint in said court showing that all the provisions of this act have been substantially complied with in the organization and management of such association; that its affairs and business have been fully adjusted for dissolution; that all the property and funds thereof have been distributed justly and equitably, so far as stockholders can be found, attaching to such complaint a schedule of the names of all the stockholders, the number of shares of stock owned by each and the amount due to each, designating those paid the same and those not paid, if any ; that all sums of money, if any, due to such stockholders have been deposited with the treasurer of such county, subject to their respective orders. Such complaint shall further show all debts and liabili- ties of such corporation, or that none exist, as the case may he, and that all debts and liabilities, if any exist, have been fully provided for. Such action shall be brought in the name of the trustees, as such, against such corporation in its corpo- rate name, and the said complaint shall be ratified by at least a maj ority of the board of trustees. Sec. 665. Upon filing the complaint mentioned in section 664 a summons shall be issued as in other cases addressed in the following terms, to wit: To all the stock- holders and creditors of a corporation, (inserting the name of such corporation). Said summons shall show the cause of action, and shall be in the form required in civil cases in this territory, and the same shall be published in a newspaper iu the man- ner required for the publication of summons in civil actions, and a written or printed copy thereof shall be sent through the mail in an envelope or wrapper addressed to each stockholder and creditor of such corporation, respectively, with postage thereon prepaid, and the same shall be deposited in the post office at the time of the first publication of said summons. Proof of publication and mailing of said summons shall be made by affidavit filed in said action. Sec. 666. Any stockholder or creditor of such association may appear by answer and show cause why such corporation should not be dissolved. 600 REPORT OF THE COMMISSIONER OF LABOR. Sec. 667. The court shall try all actions for dissolution of a corporation provided for in this act, under the usual rules of practice in civil actions, and shall require proof of all facts required to be alleged in the complaint. If the court shall find that the allegations of the complaint are true, and that such corporation may he dissolved without injury or injustice to any creditor or stockholder thereof, a decree of such court shall he rendered to that effect dissolving such corporation. Sec. 668. Upon the dissolution of any corporation by decree of court, as provided in this act, a copy of such decree duly authenticated shall be filed in the office of the secretary of the territory and of the county clerk where the certificate of incorpo- ration was filed and recorded. Sec. 669. The dissolution of any incorporation as provided in this act shall in no way impair its ob'igations nor release it or its stockholders from any liabilities. NEBRASKA. CONSOLIDATED STATUTES OF 1891. Section 359. Any number of persons, not less than five, may associate themselves together and become a corporation as provided in chapter twenty-five of the Revised Statutes, commencing at section 123 of said chapter [section 336, Consolidated Stat- utes of 1891] under the title of " corporations," for the purpose of raising moneys to be loaned among the members of such corporation, for use in buying lots or houses, or in building or repairing or removing incumbrances from houses; and such cor- poration shall be authorized and empowered to levy, assess, and collect from its members such sums of money, by rates of stated dues, fines, interest on loans advanced, and premiums hid by members for the right of precedence in taking loans, as the corporation, by its bylaws, shall adopt; also to acquire, hold, encum- ber, and convey all such real estate and personal property as may be legitimately pledged to it on such loans, or may otherwise he transferred to it in the due course of its business; Provided, that the dues, tines, and premiums so paid by members of such corporation, although in excess of twelve per cent per annum, on loans taken by them, shall not be construed to make the loans so taken usurious; And provided, also, that no person shall hold more than ten shares in any such association in his own right, each share not to exceed two hundred dollars. Sec. 360. All stockholders of any such association shall be deemed and held liable to any amount equal to their stock subscribed, or by them at any time held in addi- tion to said stock, for the purpose of securing the creditors of said association. Sec. 361. All contracts and loans made by any corporation or association already formed and now in existence in this state, under and by virtue of said chapter twenty-five of the Revised Statutes [chap. 9, this stat.], to and with any member of said corporation or association, and not inconsistent with the laws of this state, nor anything in this act contained, are hereby declared to be legal and binding con- tracts between said corporation or association and the members thereof so contract- ing ; and the securities given by said members upon said contract or loan to said corporation or association, for the security of any loan, fine, or forfeiture, according to the terms and conditions of said security or contract, therein referred to, and not inconsistent with any law of this state or in this act contained, is hereby declared to be a legal, valid, and binding security, and contract in law in the hands of said corporation or association and with the party making the same, notwithstanding a greater rate of interest than twelve per cent per annum may have been contracted for or reserved in said contract. Sec. 362. That in all corporations or associations now formed and in existence in this state, and doing business in this state, which said corporation or association have made loans to any of its members and taken securities therefor in pursuance of their constitution and bylaws, that any payment made after the passage of this CHAPTER VI. GENERAL LEGISLATION NEBRASKA. 601 act, by any member of said lorporation or association, of any dues, forfeitures, or fines which may be duo to said corporation or association according to the terms of the contract between said corporation or association and said member to said cor- poration or association, shall be deemed in law a waiver of anything in said contract or loan that might be deemed usurious in the same under the laws of this state at the time the same was made and securities given, and a ratification of said loan or contract, and of its present and future legality between said parties, as now exist- ing under and by virtue of this act. Sec. 363. Any association of not less than five persons, hereafter incorporated under the laws of this state, which shall be organized within this state for the pur- pose of raising a fund by the collection of dues or stated payments from its mem- bers, to be loaned among its members, shall, in furtherance of such purpose, and after having complied with the requirements of this act, be authorized and empow- ered to levy, assess, and collect from its members such sums of money, by rates of stated dues, fines, interest on loans advanced, and premiums bid by members for the right of precedence in taking loans, as the corporation may provide for in its consti- tution or bylaws, also, to acquire, hold, and convey all such real estate and personal property as may be legitimately pledged to it upon said loans, or may otherwise be transferred to it in the due course of its business (subject, however, to the limita- tions hereinafter named). The words "loan and building association," "building association," or "building and loan association" shall form part of the corporate name of every such corporation. Sec. 364. Every such association hereafter formed 6hall adopt a constitution which shall substantially give effect to the provisions of this act, and shall also ado^-t such bylaws for the government and management of its business as it shall deem proper; Provided, the same shall not be inconsistent with this act, and shall not contravene the laws or constitution of this state, or the United States, and may alter and amend the same from time to time in such manner as may be provided by its articles of incorporation. Such constitution shall contain equitable provisions, per- mitting any shareholder wishing to do so to withdraw from the association, in manner as follows : After three months from date of issue of the certificate of shares, a shareholder, or the legal representative of a deceased shareholder, wishing to withdraw from the said corporation, shall have the power to do so by giving thirty days' notice of such intention to withdraw, such notice being given in writing at the regular meeting of the board of directors. At the first regular meeting after the expiration of the thirty days' notice, or at any time thereafter, the member so withdrawing, or, if deceased, his legal representative, shall be entitled to receive, on demand, the amount paid in by him or her, less the admission fee and expense charges and such rate of interest as the bylaws may determine, less all fines and other charges. Should there have been, however, a net loss instead of a net gain, then such withdrawing shareholder shall receive the actual amount paid in, less his proportion of such net loss. At no time, however, shall more than one-half of the unloaned funds in the treasury of the corporation be applicable to the demands of the withdrawing shareholders without the consent of the board of directors. No shareholder shall be entitled to withdraw whose stock is pledged as security for a loau, either from the association or from any other party. It shall contain equi- table provisions permitting the payment of loans before maturity, and for crediting borrowing members who have paid premiums in advance and who repay their loans before maturity, with an equitable share of the premiums paid by them. Such con- stitution Bhall also provide that if any member has become delinquent in his pay- ments on any shares to an amount equal to the payments due thereon for any period named therein (not, however, less than three nor more than twelve months), such ^shares shall be cancelled, and he shall, as to such shares, cease to be a member, and shall become a debtor or creditor of such association as the case may be, and it shall make equitable provisions for crediting such member with the same amount 602 EEPOET OP THE COMMISSIONER OF LABOR. as if lie had voluntarily withdrawn from tho association, and if any sum he due him after deducting lines and losses, if any, to date of cancellation, it shall, if he be a borrower, be credited on his loan, and if he be not a borrower it shall be held subject to his order. Such constitution may, within the limits aforesaid, fix differ- ent periods for the cancellation of shares of borrowers and non-borrowers, and may also, within said limits, leave the period for cancellation, wholly or in part, to the discretion of tho board of directors. Sec. 365. A copy of the articles of incorporation, constitution, and bylaws of every such association shall be iiled in the office of the auditor of public accounts, who shall, with tho state treasurer and attorney general, examine the same carefully and if they, or any two of them, shall find that they conform with the requirements of this act and contain a just and equitable plan for the management of the associa- tion's business, they, or any two of them, shall issue to such association a certificate of their approval of such constitution and bylaws; but if they, or any two of them, find their provisions to be unjust or inequitable or oppressive to any class of share- holders, they shall withold their approval. It shall not be lawful for any associa- tion herealter organized within this state for the purposes set forth in section 1 of this act [363] to transact any business except the execution of its articles of incor- poration, the adoption of a constitution and bylaws, and the election of directors and officers, until it shall have procured the certificate of approval above provided for, nor shall any amendment of the articles of incorporation, constitution, or bylaws of any such association become operative until a copy of the same shall have been filed and a certiticate of approval obtained as above provided in regard to original articles of incorporation, constitution, and bylaws. Sec. 366. No loan shall be made by such association except to its own members, nor shall any loan be made to any member of any sum in excess of the par value of his stock, and the association shall have a lien on as many of the borrower's shares as shall equal at their face value the nominal amount of the loan ; good and ample real estate security unincumbered, except by prior liens held by such association, shall also be given by the borrower ; Provided, however, that the stock of such association may be received as security for a loan of the amount of the withdrawal value of such stock without other security. No evidence of indebtedness taken by such association for tho return of any such loan shall be negotiable in form, and, what- ever be its iorm, every such evidence of indebtedness shall be non-negotiable in law, and no such debt, or evidence of debt, shall be assignable or transferable in any manner so as to prevent the discharge thereof by payment made to the associati spect contravene the constitution or laws of this state. Sec. 3. A true copy of such article, signed by the officers of the association, together with a statement showing when the association was organized, and the place of the transaction of its business, and the names of the officer^ and trustees at the time of the making of such statement, which shall be verified by oath or affirma- tion before any officer authorized to take" affidavits, to be used in courts of justice, shall be filed in the office of the clerk of the county in which such association shall transact its business ; and thereupon the persons who have subscribed the articles of association as aforesaid, and such other persons as shall become members of such association, and their successors, shall be a body corporate by the name specified in such articles of association, and shall possess the powers and privileges, and be subject to the provisions of title third of chapter eighteen of the first part of the Revised Statutes, so far as those provisions are consistent with the provisions of this act, and they shall by their corporate name, be capable in law of purchasing, holding and conveying any real and personal estate whatever, which may be neces- sary to enable said company to carry on their operation named in such certificate. Sec. 4. It shall be lawful for the trustees to call in and demand from the stock- holders, respectively, all such sums of money by them subscribed, at such times and in such payments or instalments as the articles of association shall prescribe, under the penalty of forfeiting the shares of stock subscribed for, and all previous pay- ments made thereon, if payment shall not be made by the stockholder within sixty days after a personal demand or notice requiring such payment shall have beenpub- H. Ex. 209 40 626 REPORT OF THE COMMISSIONER OF LABOR. listed for six successive weeks in the newspaper nearest to the place where the busi- ness of the company shall be carried on as aforesaid. Sec. 5. All corporations formed under this act shall have power to borrow money for temporary purposes not inconsistent with the objects of their organization; but no loan for such purposes shall have a longer duration than two years, nor shall such indebtedness exceed at any one time one-fourth of the aggregate amount of the shares and parts of shares, and the income thereof, actually paid in and received. Sec. 6. Parents and g-.iardians may take and hold share's in such association in behalf and fcr the use of their minor children or wards, provided the cost of such shares be defrayed from the personal earnings of such minor children or wards, or by gifts from persons other than their male parents; married women may take and hold shares in such associations, provided the cost of such shares be defrayed from their personal earnings, the personal earnings of their children voluntarily bestowed for this pnrpose, or from property bequeathed or given to them by persons other than their husbands. Sec. 7. The trustees of any association formed under the provisions of this act may, from time to time, declare dividends from the earnings of the associa/tion, pay- able in such manner as may be provided in the articles of association ;. but no divi- dend shall be declared, except from the earnings of the association, and if the trus- tees of any such association shall declare and pay any dividend when the company is insolvent, or any dividend, the payment of which would render it insolvent, they shall be jointly and severally liable to the extent of the dividend so declared and paid, for all the debts of the association then existing or that shall be thereafter contracted while they shall respectively continue in office; Provided, that if any of the trustees shall object to the declaring of such dividend or to the payment of the same, and shall, at any time before the time fixed for the payment thereof, file a certificate of his objection in writing with the clerk of the company, and with the clerk of the county, he shall be exempt from the said liability. But no trustee who shall be present at any meeting when such dividend is declared, shall beexempt from such liability, unless he shall then and there object to the declaration or payment of such dividend, and shall also procure his objection to be noted in the book of min- utes of such association. No holder of redeemed shares shall claim to be exempt from making tho monthly or other stated payments provided in the articles of asso- ciation, upon the ground that, by reason of losses or otherwise, the association has continued longer than was originally anticipated, whereby the payments made on such shares may amount to more than the amount originally advanced, with legal interest thereon; nor shall the imposition of fines for the non-payment of dues or fees, or other violation of the articles of association, nor shall the making of any monthly payment required by the articles of association, or of any premium for loans made to members be deemed a violation of the provisions of any statute against usury. Sec. 8. Any existing association formed for the purposes mentioned in the first section of this act, may, on tho vote of a majority of the voting shares, at any regu- lar meeting after the passage of this act, become entitled to the benefit of this act, on complying with the second and third sections thereof, unless the second section has heretofore been complied with; in which case it shall be necessary to comply only with the said third section. Sec. 9. No officer, trustee, attorney, agent or servant of any association hereby incorporated, shall use or dispose of any part of the funds of such association, or assign, transfer, cancel, deliver up or acknowledge satisfaction of any bond, mort- gage or other written instrument belonging to such association, unless duly authorized, or be guilty of any fraud in the performance of his duties; and every person guilty of a violation of this section shall be liable civilly to the party injured, to tho extent of the damage thereby incurred, and shall also be liable to an indict- ment for a misdemeanor, punishable by fine or imprisonment, or both, in the discre- tion of the court by which he shall be tried. CHAPTER VI. — GENERAL LEGISLATION — NEW YORK. 627 Sec. 10. Each association formed under the provisions of this act, shall, at the close of its first year's operations, and annually at the same period in each year thereafter, publish in at least two newspapers published in the place where their business may be located, or if no newspaper shall be published in such place, then in any two newspapers published nearest such place, a concise statement verified on the oaths of its president and secretary, showing the actual financial condition of the association, and the amount of its property and liabilities, specifying the same particularly. Sec. 11. All the shareholders of any association formed under this act, shall be individually liable to the creditors of said association, to an amount equal to the amount of stock held by them respectively, for all debts contracted by such associa- tion. The directors or other officers of every association formed under this act, shall be personally liable for any fraudulent use, disposition or investment of any moneys or property belonging to such association, or for any loss which shall be incurred by any investment made by such directors or other officers, other than such as are mentioned in and authorized by this act; but no director or other officer of any such association shall be liable as aforesaid, except he authorized, sanctioned, approved or made such fraudulent use, disposition or investment as aforesaid. Sec. 12. No person holding stock in any such company, or executor, administrator, guardian or trustee and no person holding such stock as collateral security, shall be personally subject to any liability as stockholder of such company, but the per- son pledging s:ich stock shall be considered as holding the same, and shall be liable as a stockholder accordingly ; and the estate and funds in the hands of such executor, administrator, guardian or trustee shall be liable in like manner, and to the same extent as the testator or intestate, or the ward or person interested in such trust fund would have been if he had been, living and competent to act, and hold the same stock in his own name. Sec. 13. Every such executor, administrator, guardian or trustee, shall represent the share of stock in his hands at all meetings of the company, and may vote accord- ingly as a stockholder ; and every person who shall pledge his stock as aforesaid, may, nevertheless, represent the same at all such meetings, and may vote accordingly as a stockholder. Sec. 14. In case it shall happen at any time, that an election of officers shall not be made on the day designated by the bylaws of said company, when it ought to have been made, the company for that reason shall not be dissolved; but it shall be lawful, on any other day, to hold an election for trustees, in such manner as shall be provided for by the said bylaws; and all acts of trustees shall be valid and bind- ing as against such company, until their successors shall be elected. Sec. 15. The legislature may at any time alter, amend, or repeal this act, or may annul or repeal any incorporation formed or created under this act; but such amend- ment or repeal shall not, nor shall the dissolution of any such company take away or impair auy remedy given against any such corporation, its stockholders or officers, for auy liability which shall have been previously incurred. Sec. 16. Any company which may be formed under this act, may increase or diminish its capital stock, by complying with the provisions of this act, to any amount -which may be deemed sufficient and proper for the purposes of the corpora- tion. But before any corporation shall be entitled to diminish the amount of its capital srock, if the amount of its debts and liabilities shall exceed the amount of capital to whicli it is proposed to be reduced, such amount of debts and liabilities shall be satisfied and reduced so as not to exceed such diminished amount of capital. Sec. 17. Whenever any company shall desire to call a meeting of the stockholders, for the purpose of increasing or diminishing the amount of its capital stock, it shall be the duty of" the trustees to publish a notice signed by at least a majority of them, in a newspaper in the county, if any shall be published therein, at least three suc- cessive weeks, and to deposit a written or printed copy thereof in the post office, 628 REPORT OF THE COMMISSIONER OF LABOR. addressed to each stockholder at his usual place of residence, at least three weeks previous to the day fixed upon for holding such meeting, specifying the object of the. meeting, the time and place when and where such meeting shall be held, and the amount to which it shall be proposed to increase or diminish the capital, and a vote of at least two- thirds of all the shares of stock shall be necessary to au increase or diminution of the amount of its capital stock. Sec. 18. If at any time and place specified in the notice provided for in the pre- ceding section of this act, stockholders shall appear in person or by proxy, in numbers representing not less than two-thirds of all the shares of stock of the cor- poration, they shall organize, by choosing one of the trustees chairman of the meet- ing, and also a suitable person for secretary, and proceed to a vote of those present, in person or by i^roxy ; and if on canvassing the votes it shall appear that a sufficient number of votes has been given in favor of increasing or diminishing the amount of capital, a certificate of the proceeding, showing a compliance with the provisions of this act, the amount of capital actually paid in, the whole amount of debts and lia- bilities of the company, and the amount to which tho capital stock shall be increased or diminished, shall be made out, signed and verified by the affidavit of the chairman, and be countersigned by the secretary ; and such certificate shall be acknowledged by tho chairman, and filed as required by the first section of this act ; and when so filed, the capital stock of such corporation shall bo increased or diminished to the amount specified in such certificate. Sec. 19. The shares held by the members of all associations incorporated under the provisions of this act, shall be exempt from sale oa execution for debt, to an extent not exceeding six hundred dollars in such shares, at their par value. Sec. 20. No loan made by any such association to any of its members may exceed in amount the par value of the capital stock for which such member may have subscribed. Sec. 21. The copy of any certificate of incorporation, filed in pursuance of this act, certified by the county clerk or his deputy, to be a true copy, and of the whole of such certificate, shall be received iu all courts and places, as presumptive legal evidence of the facts therein stated. (Pages 1766,1767.) Chapter 564, Laws of 1875. Section 2. Every corporation organized under the provisions of said act, and every corporation heretofore organized under the laws of this state for purposes similar to those provided for in said act, shall annually make a full report in writing of the affairs and condition of such corporation, on the first day of January in each year, to the superintendent of the banking department, in such form, and by such officers of the said corporation, as the said superintendent may designate, which report shall be in place of any report which any such corporation may now be required to make to the supreme court, the comptroller, or otherwise. Such report shall be verified by the oath or affirmation of the officers making such report; and any wilful false swearing in regard to such report shall be deemed perjury, and be subject to the prosecutions and punishments prescribed by law for that offence. Every such report shall be made within twenty days after the day to which it relates, and shall be in such form, and contain such statements, returns and information, as to the affairs, business, condition, obligations and resources of such corporation as the said superintendent may, from time to time, prescribe and require. And the said superintendent may, if he be of opinion that it is desirable, require that a like report, either wholly or in part, as to the particulars aforesaid, be made to him at any time, by any such corporation aforesaid, within Bueh period as he may designate. Sec. 3. Whenever the stockholders of any corporation organized under the provi- sions of this act shall deem that a personal examination by said superintendent of CHAPTER VI. GENERAL LEGISLATION NEW YORK. 629 the affairs of said corporation is desirable or necessary, it shall be the duty of said superintendent, on the request in writing, signed by not less than five of the stock- holders of said corporation, that such examination be made, either by himself or by some person duly appointed by him for that purpose, mate a full and careful exami- nation of the affairs of said corporation and make his report thereon as herein pro- vided. The person making such examination shall have power to administer oaths and take all testimony by him deemed necessary and proper, and to compel the attendance of witnesses and the production of books and papers, by like process and in the same manner as now provided by law to procure the attendance of wit- nesses and the production of books and papers in the courts of record in this state. The expense of such examination shall be borne by said corporation, but no charge shall be made therefor, when the examination is made by said superintendent per- sonally or by one of the salaried employe's of his department, except for necessary travelling and other expenses; whenever said superintendent shall, appoint any person other than a salaried officer in his department to make such examination, the amount charged therefor shall not exceed the sum of ten dollars per day for the time actually expended in making the same, and the actual and necessary expenses as hereinbefore provided. Sec. 4. On every snch examination inquiry shall be made as to the condition and resources of the corporation generally, the mode of conducting and managing its "affairs, the action of its directors or trustees, the investment of its funds, the safety and prudence of its management, the security afforded to those by whom its engage- ments are held, and whether the requirements of its charter and of law have been complied with in the administration of its affairs. Sec. 5. If it shall appear to the said superintendent from the report of any such corporation, or from any examination made by him, or from the report of any exam- ination made to him, that any corporation has committed a violation of its charter or of law, or is conducting business in an unsafe or unauthorized manner, he shall by an order under his hand and seal of office, addressed to such corporation, direct the discontinuance of such illegal or unsafe practices and conformity with the requirements of its charter and of law, and with safety and security in its trans- actions, and whenever any corporation shall refuse or neglect to make such report as is hereinbefore required, or to comply with any such order as aforesaid ; or when- ever it shall appear to the superintendent, that it is unsafe or inexpedient for any corporation to continue to transact business, he shall communicate tho facts to the attorney general, who shall thereupon be authorized to institute such proceedings against any such corporation as are now, or may hereafter be provided for by law in the case of insolvent corporations, or such other proceedings as the nature of the case may require. Sec. 6. If any such corporation shall fail to furnish to the superintendent of the banking department any report or statement required by- this act, at the time so required, it shall forfeit the sum of ten dollars per day for every day such report or statement shall be so delayed or withheld, and the said superintendent may main- tain an action in his name of office to recover such penalty, and when collected, the same shall be paid into the treasury of the state and be applied to the expenses of the bank department. LAWS OF 1887. Chapter 556. Section 1. Any fifteen or more persons, being of full age, may form an association as provided in this act. All associations formed under the provisions hereof shall be known as cooperative savings and loan associations ; and the name of every asso- ciation, so formed, shall contain as a part thereof, the words cooperative savings and loan association. 630 REPORT OF THE COMMISSIONER OP LABOR. Sec. 2. The object and purpose of such associations shall be to encourage indus- try, frugality, homo building and savings among its members; the accumulation of savings, the loaning of such accumulations to its members, and the repayment to each member, of his savings when they have accumulated to a certain Bum, or at any time when he shall desire the same, or the association shall desire to repay the same. Sac. 3. Said association shall become incorporated by the said fifteen or more per- sons making, signing and acknowledging, in the manner and form prescribed for the acknowledgment of deeds in this state, a certificate, wherein shall be stated the name of said association; that the association is formed under and for the purposes prescribed in tbis act; the town village or city where the association is located -within this state ; and the limit of the number of shares of stock it shall have out- standing at any one time. When made as aforesaid, said certificate shall be filed and recorded in the office of the secretary of state, and upon said certificate being so filed and recorded, the secretary of state shall issue a certificate, in proper and suitable form, declaring the facts contained in said original certificate, and the filing and recording thereof in his office, and which latter certificate shall thereupon be recorded in the county clerk's office of the county where said association is located; and upon the same being so recorded, the persons named in the certificate first above mentioned, their associates and successors, shall become a corporate body. Sec. 4. The officers of the association shall consist of a president, vice-president, treasurer and secretary" who shall be ex officio members of the board of directors, which shall consist of nine members, exclusive of said ex officio members. Other officers may be authorized by the bylaws. The duties and compensation of the officers, their terms of office, the time of their election, and time of periodical meetings of the officers and shareholders shall be determined by the bylaws; except that the board of directors shall determine each year the compensation of the treasurer and secre- tary. Special meetings of the officers and shareholders shall be called and held as provided by the bylaws. Each shareholder shall be entitled to one vote, at all meetings of the shareholders, for each share owned by him or held by him as trus- tee not in arrears for dues. All officers shall hold office until their successors are duly eleeted and assume the dutiis of their office. No association shall expire from neglect on its part to elect officers at the time prescribed by the bylaws. Sec. 5. The capital ot said association shall consist of the accumulated savings of its members, which it holds, and shall not exceed at any time one million dollars, and shall be divided into shares of the matured value of two hundred dollars each. The total number of shares outstanding at any time shall not exceed ten thousand. Tho shares shall be issued in yearly or half-yearly series, in such amounts in each series, and at such times as shall be determined by the bylaws of the association. No share of a prior series shall be issued after the issuing of shares in a new series. Shares which have not been pledged as a collateral security for the repayment of a loan shall be called unpledged shares. Shares that have been so pledged, shall be called pledged shares. No person shall hold more than ten unpledged shares in any one series, nor more than twenty pledged shares in one series. Sec. 6. Savings paid to the association upon shares shall be called dues. At, or before each stated monthly or semi-monthly meeting of the board of directors each shareholder shall pay to the board or a committee thereof, one dollar dues upon each share of stock held by him until tho share reaches the value of two hundred dollars, or is withdrawn, cancelled or forfeited. Payment of dues on shares of each series shall commence from its issue. The association shall have power to-impose and collect a fiuo, not exceeding ten per cent for each month in arrears, for every dollar of dues or interest which a shareholder shall refuse or neglect to pay at the time it is due. They shall also have power to charge an entrance fee of not exceed- ing twenty-five cents on every share of stock issued by the association. Sec. 7. The accumulations upon unpledged shares may be withdrawn, and the shares cancelled after one month's written notice of such intention filed with the CHAPTER VI, — GEJSERAL LEGISLATION — HEW YORK. 631 secretary at. or before a stated monthly meeting of the board. If filed before such meeting, the one month's notice shall not bo deemed to hare commenced until the first regular meeting after the filing. The withdrawing shareholder shall be paid the amount of tho withdrawal value of his accumulations as- determined under the bylaws, at the last distribution of profits- before the notice of withdrawal, together with all dues paid since such distribution, and such interest on the value of the shares at the time of the last distribution and. on the dues thereafterpaid, as the bylaws shall determine, less any fines unpaid and a proportionate share of any unadjusted loss; Provided, that at no time shall more than one-half the receipts of the association, and when the association is indebted upon matured share*, no more than one-third shall be applicable to tho payment of withdrawing-shareholders, without the consent of the board of directors ; and when, tile demands of withdraw- ing shareholders exceed the moneys-applicable to their payment, they shall be paid in the order in which their notices of withdrawal were filed with the secretary. The board of directors may at their discretion, under rules made by them, retire the unpledged shares of any series at any time after four years from the date of their jBSue, by enforcing: withdrawals of the same; Provided that the shareholders whose shares are to be retired shall be determined by lot, and that they shall be paid tho full value of their shares, less all fines and proportionate part of any unadjusted loss. Skc. 8.. Whon each unpledged share of a given series reaches the value of two hundred dollars, all payment of dues thereon shall cease, and the holder thereof shall be paid outiof the funds of the association*, two hundred dollars therefor, with such rate of interest as shall be determiired. by the bylaws, from the time the board of directors s-hal 1 declare suoh share to haive matured, until paid; but at no time shall more than one-third, of the receipts of the association be applicable to the pay- ment of matmred*. shares* without tho consent of the board of directors. The order of tho payment of the matured shares shall be determined by the board of directors. Sec. 9. At each monthly stated meeting, immediately following the receipt of dues- and interest, the board of directors, shall offer to members of the association desiring to borrow, all accumulations applicahle to that purpose ; the same shall be loaned in sums of two hundred dollars,, the value of a matured share, or a multiple thereof, or tho fractional parts of one-fonrth or one-half thereof. If there shall be more than one member desiring to borrow, their right to a.loan shall be determined by an open bidding of a. premium. per share; the member bidding tho highest pre- mium shall be entitled to the loan, upon giving proper security. From the sum loaned shall be deducted at the time of loaning the amount of the premium bid. The receiving of such premium or interest paid on the loan shall not be deemed a violation of the usury laws. N-o member or members can borrow a larger sum t' an shall, be equal to the matured value of the shares held by him or them. A borrow- ing member, for each share or fractional part thereof, borrowed upon, shall in addi- tion to the dues on his shares, pay monthly interest ou his loan at the rate of sixper cent per annum, or such lower rate as the bylaws shall name, until the shares bor- rowe.l upon, reach the matured value of. two hundred dollars each, or the loan is repaid ; and when suich matured value is- reached, the share shall cancel, the loan upon it, and. the proper surrenders and acquittances be made. Sec. 10. For every loan made; a bond, secured! by a. first mortgage upon unincum- bercl, real estate shall.be given) accompanied by a transfer and pledge to the associa- tion of the shares borrowed, upon; and all acGum uhnbions that have or shall accrue thereon, as a collateral security for the repayment of the loan ; or, in lieu of the mortgage, the borrower,, or another, may transfer and pledge to the association, for the payment of the- loan, unpledged shares, the- withdrawal value of which under the bylaws*, at the time of such, borrowing shall exceed, the amount borrowed and interest thereon, for. six months. If the borrower neglects to offer security satis- factory to the board of directors, within the time provided by the bylaws, his right to w>« loan sliali be forfeited, and he shall, be charged with one month's interest, and 632 EEPOET OF THE COMMISSIONER OP LABOR. all necessary expenses incurred, if any, under the bylaws, in reference to his pro- posed loan. All bonds and mortgages given to the association shall be deemed con- ditioned upon the performances of the provisions of this act relating to the repay- ment of loans and interest, thereon, and the bylaws of the association, although the same may not be fully expressed therein. A borrower may repay a loan, and all arrears of interest and fines thereon, or one share thereof, that is, the sum of two hundred dollars, at any stated monthly meeting, or at any other time, but when not made at a stated meeting, he shall pay interest up to the first monthly meeting after such payment. He may repay his loan in full, thereby relieving his shares from liability upon the pledge thereof, made to the association, or he may, by a proper notice and direction as to the application, have the withdrawal value of the shares borrowed upon, applied in payment or part payment of his loan. Sec. 11. "Whenever any member shall be six months in arrears in the payment of his dues upon unpledged shares, the secretary shall give him notice thereof in writ- ing and a statement of his arrearages, by mailing the same to him at the last post office address given by him to the association, and if he shall not pay the same at the next or second stated monthly meeting thereafter, the board of directors may at their option, declare his shares forfeited; and at the time of such forfeiture, the withdrawal value thereof shall be determined and stated, and tue«defaultmo- mem- ber shall be entitled to withdraw the same without interest, within one year upon such notice as shall be required of a withdrawing shareholder. Sec. 12. Whenever a borrowing member shall be six months in arrears in the pay- ment of his dues and interest, or either, the whole loan shall become due at the option of the board of directors ; and they may proceed to enforce collection upon the securi- ties held by the association. The withdrawal value, at the time of the commence- ment of the action, of all shares pledged as collateral security for the loan, shall be applied upon the loan and arrearages of interest and fines thereon, and the shares deemed surrendered to the association. Sec. 13. Any association may purchase at any sale, public or private, any real estate upon which it may havo a mortgage, judgment, lien or other incumbrance, or in which it may have any interest; and may sell, convey, lease or mortgage the same at pleasure to any person or persons. Sec. 14. Any association organized in pursuance of the provisions of this act, may borrow money for the purpose of making loans or paying withdrawals, not exceed- ing however, two thousand dollars, so long as its accumulated capital does not exceed ten thousand dollars ; and not exceeding.six thousand dollars, so long as its accumulated capital shall be over ten thousand, and does not exceed sixty thousand dollars ; and whenever its accumulated capital exceeds sixty thousand dollars, it may borrow money for the purposes aforesaid not exceeding ten per cent of its accumu- lated capital No money borrowed shall be for a longer term than one year. Any association having a surplus in its treasury, for which there is no demands for loans, withdrawing shareholders or matured stock, may loan the same to another associa- tion, organized under the provisions of this act, subject to the provisions of this sec- tion, on the part of the borrowing association. No association shall borrow or make loans herein authorized, except by a two-thirds vote of its board of directors. The yote to be recorded by ayes and nays in its regular minutes. Sec. 15. Profits and losses shall be distributed at least annually, and always before issuing a new series of stock to the shares then outstanding. Profits and losses shall be distributed to all shares, in all series outstanding at the time of such distribution, in proportion to their holding value, as distinguished from their with- drawing value, except that, in addition thereto a distribution of not exceeding the amount of the entrance fee, in the discretion of the board of directors, may be made to each share outstanding in the last series issued prior to the distribution. At each periodical distribution of profits, the board of directors may reserve and carry as undistributed profits, in the nature of a guaranty fund, any sum from the net profits CHAPTER VI. GENERAL LEGISLATION — NEW YORK. 633 that in their discretion seems -wise, to lie applied upon any future losses that may occur from any cause whatsoever. Sec. 16. No transfers of shares shall be binding upon the association until the same have been made upon the books of the association ; and the transferee thereof shall take the same, charged with all the liabilities and conditions attaching thereto in the hands of the one transferring the same. The association may require a "transfer fee" not exceeding twenty-five cents per share. Sec. 17. The association as soon as duly incorporated, shall possess power to adopt bylaws, not inconsistent with the provisions of this act, regulating the due conduct of the business of the association, defining the duties of officers and committees, times of meetings, mode of determining and declaring the withdrawing value of shares, and in relation to all other matters having reference to the conduct of the business, although not specifically mentioned in this act. The board of directors shall have power to appoint and remove at pleasure, an attorney for the association. Sec. 18. Any person of full age and sound mind may become a member of the asso- ciation by taking one or more shares therein, and subscribing the bylaws, and annex- ing to his signature his post office address; and whenever he desires his post office address changed, he shall give written notice thereof to the secretary of the associa- tion; and for the purpose of giving any member notice, by mail, the last post office address given by him shall be deemed the proper one. A minor may hold shares in the name of a parent, guardian, or next friend as trustee for him. All accumulations upon shares in said association held by any person shall be exempt from execution and proceedings supplementary thereto, to the amount of six hundred dollars ; and the association itself shall be deemed an institution for savings and not taxable under any corporation tax law which shall exempt savings banks, or institutions for savings from taxation. Sec. 19. Every association organized under the provisions of this act shall annu- ally make a full report in writing of the affairs and condition of such corporation on the first day of January in each year to the superintendent of the bank department in such form and by such officers of the corporation as the said superintendent may designate. Such report shall be verified by the oath of the officers making the same. Every association shall make any further reports which the said superintend- ent shall require, and in such form, and as to such matters relating to the condition and conducting of the business of the association as such superintendent shall desig- nate. Any wilful false swearing in making and verifying said reports shall be deemed perjury. Sec. 20. If any such association shall fail to furnish to the superintendent of the bank department any report required by this act, at the time so required, it shall forfeit the sum of ten dollars per day for every day such report shall be delayed or withheld; and the superintendent may maintain an action in his name of office to recover such penalty, and the same shall be paid into the treasury of the state and applied to the expenses of the bank department. Sec. 21. All associations organized under the provisions of this act shall be subject to the visitation and examination at all times by the superintendent of the bank department, his deputies or duly appointed agents, upon the application of three or more members of said association. If it shall appear to said superintendent, from the report of any said association, or from an examination made by him, his depu- ties or duly appointed agents, that any such association is violating the provisions of this act, or is conducting its business in an unsafe or unauthorized manner, he shall by an order under his hand and seal addressed to such association, direct the discontinuance of such illegal and unsafe practices; and whenever any association shall neglect or refuse to comply with such order, or make reports as required, he shall communicate such facts to the attorney general, who shall thereupon be author- ized to institute proceedings against any such association as are now, or may here- 634 REPORT OF THE COMMISSIONER OF LABOR. after be provided for by law in the case of an insolvent incorporation, or such other proceeding as the nature of the case may require. Sec. 22. Any association now existing and heretofore incorporated under the pro- visions of said chapter one hundred and twenty- two of the laws of eighteen hun- dred and fifty-one, may be entitled to the benefits of this act, on the majority vote of the shareholders of said association, directing the making and filing of the cer- tificate mentioned in the third section of this act, and conforming the transaction of their business to the provisions of this act. LAWS OF 1890. Chapter 146. Suction 1. Every corporation, company or association contemplating doing busi- ness in this state and having for a part of its title or name the words "building association," "building and loan association," "savings and loan association," "sav- ings association," or "cooperative bank;" and every corporation, company or asso- ciation whose stock is payable by an accumulating fnnd in regular or stated peri- odical instalments; and every corporation, company or association doing a business in a form and character similar to that authorized to be done in this state by chap- ter one hundred and twenty-two of the laws of eighteen hundred and fifty-one, and the laws amendatory thereof, and chapter five hundred and fiftv--six of the laws of eighteen hundred and eighty-seven, shall, if organized or incorporated in any coun- try, state or territory other than the state of New York, before doing business within this state, transfer and assign to the superintendent of the banking depart- ment of the state of New York, in trust, registered public stocks of the United States, or of the state of New York, or of any incorporated city of this state, legally issued, orthe bonds of any couuty, town, village, or free school district of this state, legally issued, of the par value of one hundred thousand dollars. And the said deposit shall be held in trust by said superintendent as a guarantee fund for the protection and indemnity of residents of the state of New York, with whom such corporations, companies or associations respectively have done or may do business. The super- intendent to pay over to the said corporation the interest received on any such deposit of securities, or he may authorize the corpnration to receive and receipt for the same. With the approval of the superintendent of the banking department, such deposit may bo made by any company, either wholly or in part, in bonds and mortgages, satisfactory to the said superintendent, on improved, unincumbered, productive realestate in this state worth at least twice the amount loaned thereon; and all the provisions of this section shall apply to such deposit. It is expressly provided, however, that the said bonds and mortgages shall not be of the class known as building aud loan association mortgages. Sec. 2. Every such corporation, company or association organized or incorporated without the state of New York, and. doing business within said state shall, in Jan- uary of each year, before the twentieth day of that month, make to the said super- intendent of the banking department a report, in detail, of its financial condition, covering the calendar year last past, showing its assets aud liabilities and their nature in detail; the total amount of receipts fiom all sources in detail, including membership or initiation fees ; the total disbursements during the term, in detail, including the salaries, commissions or other compensation received by officers or agents; the total number of shares issued and the total amount of receipts from all sources and of disbursements to date ; the total number of shares issued during the year; the total number of members or stockholders, with a separate statement of the number of members or shareholders residing in the state of New York with the total number of shares held by them and the total amounts paid by them on such shares, which report shall be in such form and verified by such officers as shall' CHAPTER VI. GENERAL LEGISLATION NEW YORK. 635 he prescribed by the said superintendent of the banking department and the oaths to the verification shall be taken in this state. Sec. 3. Every corporation, company and association, described in section one of •this act and organized or incorporated without the state of New York, before doing any business within this state, shall, by an instrument in writing duly executed, appoint the superintendent of the bunking department of this state the true and lawful attorney of such corporation, company or association, upon whom all law- ful process in any action or proceeding by any resident of this state against such corporation, company or association may be served, with the same effect as if such corporation, company or association existed in this state and had been lawfully served with process therein. A certificate of such appointment, duly certified and authenticated, shall be filed in the_emee of the superintendent of the banking department, and eopies certified by him or his deputy shall be deemed sufficient evi- dence in regard thereto. Service in favor of a resident of this state upon such attorney shall thereafter be deemed a personal service upon such corporation, com- pany or association. Sec. 4. Whenever lawful process against such corporation, company ox associa- tion shall be served upon the superintendent of the banking department, under the provisions of this act, he shall forthwith forward a copy of the process served on him by mail prepaid and directed to the secretary of the corporation, company or asso- ciation, at the last known post office address of such corporation, company or asso- ciation. For each copy of process the superintendent shall collect the sum of two dollars, which shall be paid by the plaintiff or moving party at the time of such service, the same to be recovered by him as a part of his taxable disbursements if he succeeds in the suit or proceeding. Sec. 5. The term "process" in this act includes any writ, summons, petition or order whereby any suit, action or proceeding shall be commenced by a resident of this state. Sec. 6. All corporations, companies and associations described in section one of this act, and organized and incorporated without the state of New York, and doing busi- ness within the state of New York at the date of the passage of this act, shall, within &ixty days after such passage, conform to and comply with the provisions of this act by making the deposit herein provided for, by appointing the superintendent of the banking department its attorney, and shall also make to the superintendent of the banking department a verified report, in form and detail as provided in this act. Sec. 7. Upon receiving as a guaranty and indemnity fund the sum specified in section one of this act, and upon receiving the power of attorney specified in section three of this act, the superintendent of the banking department shall issue to the corporation, company or association making such deposits, a certificate that such deposit has been made and power of attorney given and a license to said corpora- tion, company or association authorizing it to do business in the state of New York. And at the same time the said superintendent shall designate to such corporation, company or association a form of report required to be made by such corporation, company or association, and shall designate the officers required to verify the same. Sec. 8. Every corporation, company or association, subject to the provisions of this act, shall be assessed by the said superintendent of the banking department to pay its proper proportion of the expenses of conducting the business of the banking department, as provided for by section six of chapter four hundred and nine of the laws of eighteen hundred and eighty-two, and shall be considered in all respects as embraced within the provisions of the said section of said act. And if such charges are not paid after due notice, the superintendent may apply to such payment any dividends or interests received or any securities deposited by the cor- poration, company or association neglecting to make the payment of such charges, with interest at the rate of six per centum, and if said deposit shall at any time, in any manner, be reduced below said sum of one hundred thousand dollars, and the 636 REPORT OF THE COMMISSIONER OP LABOR. same shall not be made good within thirty days after notice so to do given by said superintendent, either personally or by mail, to such corporation, company or asso- ciation the license of such corporation, company or association shall thereby be revoked. Sec. 9. Any agent, publisher or other person, who, in person, by advertisement or otherwise, shall solicit subscriptions to, or who shall sell, or advertise to be sold in this state the shares of stock of any corporation, company or association, described in section one of this act, and organized or incorporated without the state of New York, or who shall receive moneys or deposits for the same, or act for the same in any other capacity in this state, unless such corporation, company or asso- ciation shall at the time have fully complied with the provisions of this act, shall be guilty of a misdemeanor, and upon conviction shall be punishable by a fine not exceeding one thousand dollars, or imprisonment in a county jail not exceeding twelve months, or by both such fine and imprisonment, and shall also be personally liable in case of loss for all subscriptions obtained or moneys paid through his solic- itation, advertisement or agency. Sec. 10. If it is made to appear upon application of any creditor or shareholder in such corporation, company or association residing in the state of New York, that the funds on deposit with the superintendent of the banking department are insuf- ficient to pay in full the creditors and shareholders residing in this state, or that said corporation, company or association is insolvent, has suspended business, or that insolvency or bankruptcy proceedings have been taken against it, either volun- tary or involuntary, the supreme court may, upon due notice to the attorney general and upon such notice to said corporation, company or association, as the said court shall prescribe, appoint a receiver of said moneys ; and pending Buch application the said court or any judge thereof may enjoin the commencement or prosecution of any other actions or proceedings against such corporation, company or association. Upon the qualification of such receiver, the superintendent of the banking depart- ment shall pay over to such receiver the funds remaining in his hands, less any charges which he may have against the same ; and thereupon the receiver shall dis- tribute said funds among the creditors and shareholders of such corporation, com- pany or association residing in this state, in the manner prescribed by law for the payment of creditors in case of the voluntary dissolution of a corporation. Sec. 11. The sum of two thousand dollars, or so much thereof as may be necessary, is hereby appropriated out of any moneys in the treasury not otherwise appro- priated, to enable the superintendent of the banking department to comply with the provisions of this act, to be paid on the approval of the superintendent, by the treasurer, on the warrant of the comptroller. Sec. 12. The provisions of this act shall not affect nor apply to contracts or pay- ments made or received upon certificates of stock iu force at the date of the passage of this act. LAWS OF 1892. Chapter 689. Section 1. This chapter shall be known as the banking law, and shall be applica- ble to all corporations and individuals specified in the next section. Sec. 2. * * * The term, building and mutual loan corporations or associations, when so used, means a, corporation formed for the purpose of accumulating a fund for the purchase of real property, the erection of buildings, or the making of other improvements on lands, or to pay off incumbrances thereon, or to aid its members in acquiring real property, making improvements thereon or removing incumbrances therefrom, or of accumulating a fund to be returned to its members iu specified cases. The term, cooperative loan association, when so used means a corporation formed for the purpose of encouraging industry, frugality, home building and the saving of money by its members, the accumulation of savings, the loaning of such accumu- CHAPTER VI. GENERAL LEGISLATION — NEW YORK. 637 lations to its members, and the repayment to each member of his savings when they have accumulated to a certain sum, or at any time when he shall desire the same, or the association shall desire to repay the same. The term, building and mutual loan corporations or associations, and cooperative loan associations, shall include every corporation, company or association doing business in this state and having for a part of its title or name the words building association, building and loan association, savings and* loan association, savings asso- ciation or cooperative bank, and every corporation, conrpany or association whose stock is wholly or in part payable by » cumulative fund in regular or periodical instalments, or which is doing business in the form and of a character similar to that authorized by articles five and six of this chapter organized or incorporated in any state or country outside of this state. * * * . Sec. 3. There shall continue to be a banking department charged with the execu- tion of the laws relating to the corporations and individuals to which this chapter is applicable. The chief officer of such department shall continue to be the superintendent thereof, to be known as the superintendent of banks, * * * . Sec. 1. All the expenses incurred in and about the conduct of the business of the department, including the salary of the superintendent and clerks, shall be charged to and pnid by the corporations and individuals required to report to the superin- tendent under the provisions of this chapter in such proportions as the superintendent shall deem just and reasonable. The expenses incurred and services performed on account of any such corporation or individual shall be charged to and paid by the corporation or individual for whom they were incurred or performed. If any corporation or individual shall not, after due notice, pay any such charges, the superintendent may apply the proceeds of the sale of or the dividends on any stock or the interest on any bonds and mortgages in his hands deposited by such corporation or individual to the payment of such charges, with interest, at the rate of six per cent. The moneys so applied, and all moneys received by him in payment of such charges, shall be deposited and paid by him into the treasury of the state, to reimburse all sums advanced from the treasury for such expenses, except moneys received from any corporation or individual banker for expenses incurred or services performed on account of any such corporation or individual, which moneys shall be applied by the superintendent in payment of such expenses and a verified account thereof included in his annual report. If any such corporation or individual shall fail to pay such charges as herein required, and there are no stocks, bonds or mortgages in the department, the divi- dends or interest on which can be applied in payment thereof, the superintendent shall report to the attorney general the failure of any such corporation or individual to pay such charges, and the attorney general shall thereupon bring an action in the name of the people for the recovery of such charges. Sec. 8. Every corporation * * * specified in section two of this chapter shall be subject to the inspection and supervision of the superintendent of banks. He shall, either personally or by some competent person or persons to be appointed by him, to be known as examiners, visit and examine every such corporation at least once in each year, * * * . On every such examination inquiry shall be made as to the condition and resources of the corporation, the mode of conducting and managing its affairs, the action of its directors, the investment of its funds, the safety and prudence of its management, the security afforded to those by whom its engagements are held, and whether the requirements of its charter and of law have been complied with in the administration of its affairs ; and as to such other matters as the superintendent may prescribe. He shall have power in like manner to examine every corporation specified in section two, whenever, in his judgment, its condition and management is such as to render an examination of its affairs necessary and expedient. 638 EEPOET OF THE COMMISSIONER OP LABOR. The superintendent and every such examiner shall have power to administer an oath to an 3' person whose testimony may he required on any such examination, and to compel the appearance and attendance of any such person for the purpose of any such examination. If the examination shall he made by the superintendent, or by one or more of the regular clerks in the department, no charge shall he made except for necessary travelling and other actual expenses. * * * Sec. 9. The president or cashier of every such corporation * « » shall once or more during eaeh fiscal year, and at such time or times during ordinary business hours as he may select, examine and compare all securities deposited by such cor- poration * * in the office of the superintendent with the books of the depart- ment, and, if found correct, execute to the superintendent a receipt stating the dif- ferent kinds of such securities and the amounts thereof, and that they are in the custody and possession of the superintendent at the date of thu receipt. * * * If any such corporation * > * shall refuse or neglect to make such examina- tion during any fiscal year, the comptroller, secretary of state and superintend- ent shall appoint some suitable and discreet person as agent for such corporation * .* * who shall make such examination, and if the securities so held by the super- intendent shall be found to agree with the books of the department, such agent shall execute the receipt before mentioned, and it shall be of like force and effect as if executed by the president or cashier of any such corporation, * * . Such cor- poration * * * shall pay on demand to the person so appointed and making such examination and executing such receipt, such compensation for his services and expenses in making such examination as the superintendent shall certify to be just and reasonable. Sec. 11. Every examiner appointed by the superintendent shall, before entering upon the duties of his appointment, take and file in the office of the cierk of the county where he resides, the constitutional oath of office; and he shall forthwith examine fully into the books, papers and affairs of the corporation * * * speci- fied in his appointment, and report on oath to the superintendent the result of such examination. No such examiner shall he appointed receiver of any corporation * * * whose books, papers and affairs he shall have examined pursuant to such appointment. Sec. 13. No such corporation shall commence its corporate business until its presi- dent and cashier or treasurer or secretary, or its two principal officers, by whatever name known, shall have made and subscribed an affidavit stating that the whole of its capital stock, or such portion thereof as by law shall be required to be paid or secured before the commencement of its operations, has been actually paid or secured to be paid, according to law. Such affidavit may be made before any officer authorized to administer oaths in the county where the corporation has its principal place of business, and shall he filed in the clerk's office of such county. Every such corporation shall cease to be a corporation if the affidavit above required shall not be made and filed within one year from the time its charter shall be granted. Sec. 14. Every such corporation, except * * * domestic corporations speci- fied in articles five [and] six [building and mutual loan corporations, and coopera- tive loan associations] * * * of this chapter, engaged in receiving deposits of money in trust in this state, and required to make- a report of its affairs to the superintendent of banks, shall, if it has not already done so, within six months from the passage of this chapter; and every such corporation hereafter proposing to engage in such business in this state shall, before engaging in such business, transfer and assign to the superintendent registered public stocks or bonds of the United States, or of this state, or of any city, county, town, village or free school district in this state, authorized by the legislature to be issued, to the amount in value, and to be at all times so maintained by the- corporation, of ten per cent on its paid-up capital stock, but not less in any case than one hundred thou- CHAPTER VI. GENERAL LEGISLATION NEW YORK. 639 sand dollars in cities the population of which exceeds five hundred thousand inhabitants and not less than fifty thousand dollars in cities containing more than one hundred thousand inhabitants and less than five hundred thousand inhabi- tants, and not less than thirty thousand dollars in cities containing more than twenty-five thousand inhabitants and less than one hundred thousand inhabi- tants, and not less than twenty thousand dollars in cities of loss than twenty-five thousand inhabitants, the number of inhabitants in each city to be ascertained by the last federal census or state enumeration. Such stocks must be registered in the name of the superintendent, officially, as held in trust under and pursuant to this chapter, and the same shall be held by the superintendent in trust, as secu- rity for the depositors with and creditors of such corporation, and subject to sale and transfer, and to the disposal of the proceeds thereof by the superintendent, only on the vorder of a court of competent jurisdiction. Until the order of such court, authorizing such sale or transfer or other disposition thereof, the superintend- ent shall pay over to such corporation the interest which may be received on such securities. Should any corporation, at any time, have deposited with the superin- teudeut more than the amount hereby required, the excess may be refunded. With the approval of the superintendent, such a deposit may be made by the corpora- tion, either wholly or ix part, in bonds or mortgages satisfactory to the superin- tendent on improved, unincumbered, productive real property in this state, worth at least seventy-five per cent more than the amount loaned thereon. If any foreign corporation doing business in this state shall refuse or neglect to make the deposit herein required with the superintendent, the fact shall be reported by the superintendent to the attorney general, who shall forthwith take such proceeding as may bo necessary to enjoin and restrain such corporation from transacting any business in this state, and the court to which sueh application shall be made shall be authorized to make such order or decree, and to issue such process in the premises to enforce compliance by the corporation with the provisions of this chapter, or to restrain the transaction of business by it in this state as it may deem proper. Sec. 15. The securities deposited by any corporation pursuant to the provisions of this chapter with the superintendent of banks in trust for any purpose, may be exchanged from time to time for other securities receivable as provided in this chapter; and so long as the corporation so depositing shall continue solvent and comply with the laws of the state, it may be permitted by the superintendent to collect the interest or dividends on such deposits, and from time to time to with- draw any of such securities on depositing with the superintendent other like securi- ties, the par and market value of which shall be equal to the par and market value of such as may be withdrawn. When any such deposit consists of bonds and mortgages, the president or author- ized agent of every corporation depositing the same shall annex to every such mort- gage his affidavit that the mortgage was made and taken in good faith for money loaned by the corporation which he represents, to the amount therein named, and that do part thereof has been since paid or returned; or if any part has been paid, the amount unpaid and that he has reason to believe and does believe that the premises thereby mortgaged are worth at least seventy-five per cent more thnn the amount of the mortgage thereon ; and the superintendent shall prescribe sueh reg- ulations for ascertaining the title and value of the real property mortgaged as he may deem necessary. Skc. 16. Whenever the superintendent shall deem it proper, a copy of any report made by any examiner shall be published in the state paper and in at least one daily newspaper in the city of New York, and in one newspaper published in the county where the principal place of business of such corporation or individual is located. Seo. 17. Whenever the superintendent shall have reason to believe that the capi- tal stock of any corporation *"- -? * , subject to the provisions of this chapter, is 640 REPORT OF THE COMMISSIONER OF LABOR. reduced by impairment or otherwise below the amount required by law, or by its certificate or articles of association, he shall require such corporation to make good the deficiency. He may examine or cause to be examined any such cor- poration to ascertain the amount of such impairment or reduction of cartital, and whether the deficiency has been made good as required by him. The directors of every such corporation upon which such requisition shall have been made shall immediately give notice of such requisition to each stockholder of the corporation, and of the amount of the assessment which he must pay for the purpose of making good such deficiency, by a written or printed notice mailed to such stockholder at his place of residence, or served personally upon him. If any stockholder shall refuse or neglect to pay the assessment specified in such notice within sixty days from the date thereof, the directors of such corporation shall have the right to sell to the highest bidder at public auction the stock of such stock- holder, after giving previous notice of such sale for two weeks in a newspaper of general circulation published in the place or county where such corporation is located; but such stock shall not be sold for a smaller sum than the valuation put on it by tho superintendent in his determination and certificate; and the necessary costs of the sale shall be paid out of the avails of the stock sold. If any such corporation * * * shall neglect for sixty days after the superin- tendent shall have required such deficiency to be made good, to comply with such request, the superintendent shall report the fact to the attorney general, who shall institute such action or proceeding against such corporation * * * as is now authorized in the case of insolvent corporations. * * * Sec. 18. If any such corporation * * * shall refuse to submit its books, papers and concerns to the inspection of any examiner, or if any officer thereof shall refuse to submit to be- examined upon oath touching the concerns of such corporation * * ", or if" it shall be found to have violated its charter, or any law of the state binding upon it, the superintendent may report the fact to the attorney gen- eral, who shall institute such action or proceeding against such corporation * * * as is authorized in case of insolvent corporations. If it shall appear to the superintendent that any such corporation * * * nas violated its charter or any law of this state, or is conducting business in an unsafe or unauthorized manner, he shall, by an order under his hand and official seal, addressed to such corporation * * * direct a discontinuance of such illegal or unsafe prac- tices, and conformity with the requirements of its charter, and with safety and 83curity in its transactions ; aud whenever it shall appear to the superintendent that it is unsafe and inexpedient for such corporation * * * to continue business, he shall communicate the facts to the attorney general, who shall thereupon institute such proceedings against the corporation * * * as are authorized in the case of, insolvent corporations, or such other proceedings as the nature of the case may require. Sec. 19. The creditors aud shareholders of any such corporation whose, debts or shares shall amount to one thousand dollars may make application to the supreme court by a verified petition setting forth facts showing that an examination of the affairs of the corporation should be made, and the court may thereupon, in its dis- cretion, order such an examination to be made by a referee for the purpose of ascer- taining the safety of the investments and the prudence of the management of the corporation. The result of every such examination, together with the opinion of the referee thereon, shall be published in such manner as the court shall direct. The court shall make such order in respect to the expenses of the examination and pub- lication as it may deem proper. Sec. 20. Every corporation * * * subject to the provisions of this chapter shall make a written report to the superintendent of banks, in such form and con- taining such matters as he shall prescribe. * * * CHAPTER -VI. — GENERAL LEGISLATION — NEW YORK. 641 If a cooperative loan association, or a building .and mutual loan corporation, * * * such report shall bo made annually on or before February first in each year, andshall contain a statement of its condition on the first day of January preceding. The super- intendent may, for good causo shown, extend the timo for making any such report not exceeding thirty days. Every such report shall bo verified by the oath of the president and cashier or treasurer of such corporation * * * to the effect that tho same is truo and cor- rect in all respects, and that tho usual business of such corporation * * * has been transacted at tho location required by this chapter, and not else where * * * Sec. 21. * * * Every [building and mutual loan corporation, and cooperative loan association] * * * subject to tho provisions of this chapter which shallfail to make such report within tho timo heroin required, or to include therein any mat- ter required by tho superintendent to bo stated, shall forfeit to tho people the sum of ten dollars for every day for which such report shall bo delayed or withheld, and for everyday that any such omitted matter may remain unreported. The moneys forfeited by this section, when recovered, shall bo x>aid into tho state treasury to bo used to defray tho miscellaneous expenses of tho dcx>artmcnt. If any corporation * * * shall fail to make two successive reports as herein rcquirod, every such corporation shall forfeit its charter, * ■* *■ and. every such corporation * * * may bo proceeded against and tho affairs of such corporation closed * * * in the same manner as an insolvent corporation * * * may be proceeded against. In case of tho failure of any corporation * *' '* to make any report required of him [it] by law, the superintendent shall immediately causo tho books, papers and affairs of such corporation * * * to bo examined as directod by section eight of this chapter. Sec. 22. Within thirty days after any such report shall bo made, tho superintend- ent shall * * * publish a summary statement thereof in a paper at Albany in which notices by state officers are required by law to bo published, and tho separate report of each corporation * * * 6hall be published by such corporation * * * in at least one newspaper of tho place where its principal place of business is located, if there be one; if not then in the newspaper published nearest where the bank is located. Such summary statement shall contain tho items of capital, circulation, if any, and deposits, specie, and cash items, public securities and private securities and such other matters as may be necessary to inform tho public as to the financial condition and solvency of any such corporation * * * or which the superintend- ent may deem propor to include therein. * * * Sec. 23. The superintendent shall report annually to the legislature, at the com- mencement of its first session : 1. A summary of tho state and condition of every corporation >■ * *■ required to report to him and from which reports have been received the preceding year, at the several dates to which such reports refer, with an abstract of the whole amount of capital returned by them, tho whole amount of their debts and liabilities, speci- fying particularly * * * the total amount of moans and resources, specifying * * * such other information in relation to such corporations * * * as, in his judgment, may be useful. Such corporations shall be divided into classes so as to correspond with the designations thereof in section two of this chaptor. 2. A statement of all * * * corporations * * * authorized by him to do- business during the previous year, with their names and locations and dates of incor- poration, and particularly designating such as have commenced business during the- year. * * * Such report shall be mado by or before tho last day of the yoar, and tho usual number of copies for the use of the legislature shall be printed and in readiness for distribution by the printer employed to print legislative documents, and one thousand H. Ex. 209 41 642 EEPOET OF THE COMMISSIONER OP LABOE. copies shall bo printed for tho use of tho department, tho expense of which shall be charged among the general expenses of tho department. Such report maybe divided into parts, and tho part or parts containing tho reports of corporations other than banks may bo made on or before tho first day of MaTchin each year. Sec. 2G. Interest unpaid, although due or accrued on debts owing to the corpora- tion * * * shall not bo included in tho calculation of its profits previous to a dividend. Tho surplus profits^ from which alone a dividend can be made, shall be ascer- tained by charging in tho account of profit and loss and dediicting from tho actual profits : 1. All expenses j>aid or incurred, both ordinary and extraordinary, attending the management of its affairs and transaction of its business. 2. Tho interest paid, or then due and aeerucd, on debts owing by it. 3. All losses sustained by it. In the computation of such losses, all debts owing to it, shall be included which shall have remained due, without prosecution, and upon which no interest shall have been paid for more than one year, or on which judgment shall have been recovered that shall havo remained for more than two years unsatis- fied, and on which no interest shall havo been paid during that period. Sec. 27. All losses sustained by any corporation * * * subject to this chapter, in excess of its undivided profits then realized and possessed, shall be charged as a reduction of its capital stock, and no dividend shall thereafter bo made on its shares of stock until the deficit of capital so created shall be made good, either liy the recovery of the moneys charged as lost or from the subsequently accruing profits of tho corporation. Sec. 29. Any corporation * * * to which this chapter is applicable may make application to tho superintendent of banks for leave to change its place of business to another plaee. in the samo or an adjoining county. Notice of intention to make such application, signed by the two principal officers of the corporation * * * shall bo published once a week for four weeks in a newspaper published in tho city of Albany and in a newspaper published in tho county in which such place of busi- ness is located, to be designated by the superintendent of banks. The application shall state tho reasons for such proposed change, and be signed by a majority of the board of directors of the corporation and be accompanied by tho written assent thereto of at least two-thirds in amount of the stockholders of the corporation * * *. If the superintendent shall be satisfied that there is no reasonable objection to such change of location, he shall make a certificate authorizing such change, which shall bo filed in tho office of tho superintendent, and a certified copy thereof with the clerk of the county in which tho place of business of the corporation H * * is located, and with the clerk of the county to which its placo of business is changed, if in another county, and published once in each week for four successive weeks in tho newspapers in which the notico of application was published. When the requirements of this section shall havo been fully complied with, the corporation * * may, upon or after the clay specified in the certificate, remove its property and effects to the location designated in the certificate; and thereafter its solo business location shall bo the location so specified ; and it shall havo all the rights and powers in such new location to which it was entitled at its former loca- tion; but no such change of location shall in any manner lessen or impair any lia- bility of the corporation * * incurred or existing at tho time such change was made Sec. 30. No corporation to which this charter [chapter] is applicable shall be incorporated hereunder, or transact any business in this state other than such as relates to its formation, without the written approval of the superintendent of banks and without his written certificate stating that it has complied with the pro- visions of this chapter and with all the requirements of law, and that it is author- CHAPTER VI. GENERAL LEGISLATION — NEW YORK. 643 ized to transact within this state tho business specified therein, and that such business can bo safely intrusted to it; which certificate shall bo recorded in the office of the superintendent in a hook to he kept by him for that purpose and a certified copy thereof filed in the office of the clerk of tho county where the corpo- ration is to havo its principal business office. Sec. 31. No foreign corporation incorporated for the propose of carrying on the business specified in articles five [and] six [building and mutual loan corporations, and cooperative loan associations] * * * of this chapter shall transact business in this state without the written permission of tho superintendent of banks and a written certificate from him stating that such corporation has complied with all of the provisions of this chapter applicable to it and with all the requirements of law, and that it is authorized to transact the business within this state specified therein and that such business may be safely intrusted to it. Such permission and certifi- cate shall continue in force only for the period of one year from tho date thereof, hut may be renewed by tho superintendent from time to time for a like period if satisfied that tho corporation has complied with all of tho provisions of this chapter and with tho requirements of law and that such business can be safely intrusted to it. Sec. 32. No foreign corporation, company or association, to which this chapter is applicable, shall transact any business in this state until it has executed and filed with the superintendent of banks a written instrument appointing such super- intendent its true and lawful attorney, upon whom all process in any action or proceeding by any resident of the state against it may be served with tho sameeffect as if it existed in this state and had been lawfully served with process therein. Service in favor of a resident of this state upon such attorney shall bo deemed a personal service upon such corporation, company or association. The superintend- ent of banks shall forthwith forward a copy of every process served upon him . under the provisions of this section by mail, prepared [prepaid] and directed to the secretary of such corporation, company or association at its last known post office address. For each copy of process tho superintendent shall collect tho sum of two dollars which shall bo paid by the plaintiff or moving party at the time of such service to be recovered by him as a part of his taxable disbursements if he succeeds in tho suit or proceeding. The term process in this section includes any writ, sum- mons, petition or order whereby any suit, action or proceeding shall be commenced by a resident of the state. Sec. 33. If it is made to appear upon application of any creditor or shareholder in any such corporation, company or association, residing in this state that the funds on deposit with the superintendent of banks are insufficient to pay in full the cred- itors and shareholders residing in this state, or that it is insolvent, or has suspended business, or that insolvency or bankruptcy proceedings have been taken against it either voluntarily or involuntarily, the supreme court may, upon duo notice to the attorney general, and upon such notice to tho corporation, company or association as tho court shall prescribe, appoint a receiver of such funds ; and pending such appli- cation, the court or any judge thereof may enjoin the commencement or prosecution of any other action or proceeding against such corporation, company or association. Upon the qualification of such receiver, the superintendent of banks shall pay over to him tho funds remaining in his hands less any charges which ho may have against the same, and tho receiver shall distribute such funds among the creditors and share- holders of the corporation, company or association residing in this state in the man- ner prescribed by law for the payment of creditors in the case of voluntary dissolu- tion of a corporation. Sec. 170. Nine or more persons may become a corporation for tho purpose of accumulating a fund for the purchase of real property, the erection of buildings, or the making of other improvements on lands, or to pay off incumbrances thereon, or to aid its members in acquiring real property, making improvements thereon, and removing incumbrances therefrom, and for accumulating a fund to be returned to its 644 REPOET OF THE COMMISSIONER OF LABOR. members, who do not obtain such advances, when its funds shall amount to a certain sum per share, to he specified in the certificate of incorporation, or for all or any of such purposes ; by making, acknowledging and filing a certificate of incorporation, setting forth : 1. The name of the corporation. 2. The location of its principal business office. 3. When its regular meetings shall be held and how special meetings may be called. 4. What shall bo a quorum to transact business at its meetings. 5. How members shall be admitted and their qualifications. C. AVkat officers, directors or attorneys of the corporation there shall be and how and when chosen. 7. The duties of such officers, directors- or attorneys and how removed or sus- pended from office. 8. The names of the persons who shall be such officers and directors for its first year, and until others are chosen or appointed in their places. 9. The entrance fee of new members and new shares. 10. The amount of each share. 11. The monthly or weekly dues per share. 12. The redemption fee on shares on which advances shall be made. 13. Tho fees to be paid on the transfer of shares. 14. The penalties for non-payment of dues or fees, or other violations of the pro- visions of the certificate. 15. The manner of redemption of shares by advances made thereon. 16. The mortgage security to be taken on such advances and how tho same may be changed. 17. The manner of the transfer or withdrawal of shares. 18. The manner of investing funds not required for advances on shares. 19. Tho qualification of voters at its meetings and tho mode of voting. 20. Tho ultimate amount to bo paid to the owners of unredeemed shares. 21. The manner of altering or amending the certificate of incorporation. 22. Such other provisions not inconsistent with law as shall be necessary for the convenient and effective transaction of its business. Such certificate must be approved by the superintendent of banks and filed in tho office of tho clerk of tho county in which such corporation shall have its prin- cipal business office, and a certified copy thereof shall bo filed in the office of the superintendent of banks. Thereupon the persons who have subscribed such cer- tificate and such other persons as shall become members of the corporation, and their successors shall be a corporation by the name specified in such certificate. Seo. 171. Tho directors of every such corporation may call in and demand from the members and stockholders thereof, all sums of money by them subscribed, at such times and in such payments or instalments as the certificate of incorporation shall prescribe, under tho penalty of forfeiting tho shares of stock subscribed for and all previous payments mado thereon, if payment shall not be made by the member or stockholder within sixty days after a personal demand made or notico requiring such payment shall have been published for six successive weeks in the newspaper nearest to tho principal place of business of tho corporation. Every such corporation shall have power to borrow money for temporary purposes not inconsistent with tho objects of its organization, but no such loan shall have a longer duration, than two years, nor shall its indebtedness for money so borrowed exceed at any one time one-fourth of tho aggregate amount of its shares and parts of shares and tho income thereof actually paid in and received. No loan mado by any such corporation to any of its members or stockholders shall exceed in amount the par value of tho capital stock for which such member or stock- holder may have subscribed. CHAPTER VI. — GENERAL LEGISLATION NEW YORK 645 Sec. 172. Parents and guardians may take and hold shares in such corporation in behalf and for the use of their minor children or wards, if the cost of such shares be defrayed from the personal earnings of such minor children or wards, or by gifts from persons other than tlieir parents. Sec. 173. Dividends declared from the earnings of the corporation shall be payable in such manner as may bo provided in the certificate of incorporation. No holder of redeemed shares shall claim to be exempt from making the monthly or other stated payments provided in the certificate of incorporation on the ground that by reason of losses or otherwise, tho corporation has continued longer than was originally anticipated, whereby the payments made on such shares may amount to more than the amount originally advanced, with legal interest thereon ; nor shall the imposition of fines for non-payment of dues or fees or other violation of the certifi- cate of incorporation, nor tho making of any monthly payment required by the cer- tificate of incorporation, or of any premiums for loans made to members be deemed a violation of tho provisions of any statute against usury. Sec. 174. All tho stockholders of any such corporation shall be individually liable to the creditors to an amount equal to tho amount of stock hold by them respect- ively for all debts contracted by it. The directors or other officers of every such corporation shall bo personally liablo for any fraudulent use, disposition or invest- ment of any monoys or property belonging to it, or for any loss which shall be incurred by any investment made by any such directors or officers, other than such as aro mentioned in and authorized by this articlo; but no director or other officer shall bo so liablo unless ho authorized, sanctioned, approved of or made such fraudulent use, disposition or investment. The shares held by the members and stockholders of every such corporation shall bo exempt from sale on execution for debt to an extent not exceeding six hundred dollars in such shares at their par value. Sec. 175. Any existing corporation formed solely for the purposes mentioned in this article, or any of them, may, by a vote of the persons holding a majority of the voting shares of stock of such corporation at any regular meeting after this article shall take effect, become entitled to the benefit of this article on complying with section 170 of this chapter, or such portions thereof as have not been previously complied with. Sec. 180. Fifteen or more persons may become a corporation for tho purpose of encouraging industry, frugality, home building and savings among its members, the accumulation of savings, tho loaning of such savings to its members, and the repayment to each member of his savings when they have accumulated to a cer- tain sum, or at any time when he shall desire the same, or the corporation shall desire to repay the same, or for any or all of such purposes, by making, acknowledg- ing and filing a certificate stating the name of the corporation, which shall contain as a part thereof the words " cooperative savings and loan association," the purpose .or purposes for which it is formed, the town, city or villago where its principal placo of business is located within this state and the minimum number of shares of stock it shall have outstanding at any one time. Such certificate must bo approved by the superintendent of banks and filed and recorded in his office, and a certified copy thereof filed in tho office of the clerk of the county where its principal business office is to bo located, and upon tho filing of such certificate and the certified copy thereof, the persons named therein, their asso- ciates and successors, shall become and be a corporation by tho name specified therein. Sec. 181. The officers of the corporation shall be a president, -vice-president, treas- urer and secretary, who shall bo ex officio members of tho board of directors, which shall consist of nine members exclusive of such ex officio members, and such other officers as may bo authorized by the bylaws. Bylaws shall be adopted prescribing tho terms of office, duties and compensation of the officers, the time of their elec- 646 REPORT OF THE COMMISSIONER OF LABOR. tion and of periodical meetings of the officers and shareholders, how special meet- ings may ho called, regulating the due conduct of the business of the corporation, defining the duties of its officers and committees, the mode of determining and declaring the -withdrawing value of shares, and making such other regulations in regard to the transaction of the business of the corporation as are not inconsistent with law. The hoard of directors shall each year determine the compensation of the treasurer and secretary, and they may appoint and remove at pleasure an attorney for the corporation. Sec. 182. The capital of every such corporation shall consist of the accumulated, savings of its members, which it holds, and shall not exceed at any time one million dollars; and shall be divided into shares of the matured value of two hundred dol- lars each. Tho total number of shares outstanding at any time shall not exceed ten thousand. The shares shall be issued in yearly or half-yearly Beries in such amounts in each series and at such times as shall be prescribed by the bylaws. No shares of a prior series shall bo issued after the issuing of shares in a new series. Shares which have not been pledged as a collateral security for tho repa.yro.ent of a loan shall be called unpledged shares. Shares which have been so pledged shall be called pledged shares. No person shall hold more than ten unpledged or twenty pledged shares in" any one series. Each shareholder shall be entitled to one vote at all meetings of the shareholders for each Bhare owned by him or held by him as trustee, not in arrears for dues. Sec. 183. Savings paid to the corporation upon shares shall be called dues. At or before each stated monthly or semi-monthly meeting of the board of directors, each shareholder shall pay to the board or a committee thereof, one dollar dues upon each share of stock held by him until the share reaches the value of two huudred dollars, or is withdrawn, cancelled or forfeited. Payment of dues on shares of each series shall commence from its issue. Fines may be imposed and collected, not exceeding ten per cent for eaeh month in arrears, for every dollar of dues or interest which a shareholder shall refuse or neglect to pay at the time it is due. An entrance fee may also be charged not exceeding twenty-five cents on every share of stock issued by tho corporation. Sec. 184. The accumulations upon unpledged shares may be withdrawn, and the shares cancelled, after one month's written notice of such intention filed with the secretary at or before a stated monthly meeting of tho board. If filed before such meeting, the one month's notice shall not be deemed to have commenced until the first regular meeting after filing. The withdrawing share- holder shall be paid the amount of tho withdrawal value of his accumulations as determined under the bylaws at the last distribution of profits before the notice of withdrawal, together with all dues paid since such distribution, and such interest on the value of the shares at tho time of the last distribution and on the dues there- after paid as the bylaws shall determine, less any fines unpaid and a proportionate share of any unadjusted loss; but not more than one-half of the receipts of the cor- poration, and when tho corporation is indebted on matured shares not more than one-third of such receipts, shall be applicable to the payment of withdrawing share- holders without tho consent of the board of directors. When tho demands of ■■ ith- drawing shareholders exceed tho moneys applicable to their payment, they shall be paid in tho order in which their notices of withdrawal were filed with the secretary. ' Tho board of directors may in their discretion, under rules made by them, retire the unpledged shares of any series at any time after four years from the date of their issue by enforcing withdrawals of the same; but the shareholders whose shares are to bo retired shall be determined by lot, and they shall bo paid the full value of their shares, less all fines and proportionate part of any unadjusted loss. Sec 185. When eaeh unpledged share of a given series reaches the value of two CHAPTER VI. GENERAL LEGISLATION NEW YORK. 647 hundred dollars, all payment of dues thereon shall cease, and tho holder thereof shall bo paid out of tho funds of tho corporation, two hundred dollars therefor, with such rate- of interest as shall he determined by tho bylaws from tho time tho board of directors shall liavo declared such shares to bo matured until paid; but at no time shall moro than ono-third of the receipts of tho corporation bo applicable to the payment of matured shares without tho consent of tho board of directors. Tho order of tho payment of matured shares shall bo determined by tho board of directors. Sec. 186. At each monthly stated meeting, immediately following tho receipt of duos and interest, tho board of directors shall offer to members of tho corporation desiring to borrow, all accumulations applicablo to that purpose, in sums of two hun- dred dollars, tho value of a matured share, or a multiple thereof, or the fractional parts of one-fourth or one-half thereof. If more than one member desires to bor- row, tho right to tho loan shall be determined by an open bidding of a premium per share, and the member bidding tho highest premium shall be entitled ,to tho loan upon giving proper security ; and the amount of tho premium paid shall bo deducted from tho sum loaned at tho timo of loaning, and tho receipt thereof shall not be deemed a violation of the usury laws. No member can borrow a larger sum than shall be equal to tho matured value of the shares held by him. A borrowing mem- ber, for each share or fractional part thereof borrowed upon, shall, in addition to tho dues on his shares, pay monthly interest on his loan at the rate of six per cent per annum, or such lower rato as tho bylaws shall name, until tho shares borrowed upon reach the matured value of two hundred dollars each, or tho loau is repaid; and when such matured value is reached, tho loan upon it shall bo paid out of the share, and the proper surrender and acquittances be made. Sec. 187. Every loan made shall be secured by a bond and a first mortgage upon unincumbered real property, with a transfer and pledge to the corporation of tho sharos borrowed upon, and all accumulations that have or shall accrue thereon; but in lieu of the mortgage the borrower, or another, may transfer and pledge to the corporation for the payment of tho loan, unpledged shares, the withdrawal value of which, under tho bylaws, at tho timo of such borrowing, shall exceed tho amount •borrowed aud interest thereon for six months. The right to tho loan shall bo for- feited if tho borrower neglects to offer security satisfactory to tho board of directors within tho timo provided by the bylaws, and he shall be charged with ono month's interest and all necessary expenses incurred, if any, under the bylaws, in reference to his proposed loan. All bonds and mortgages given to 1ho corporation shall bo deemed conditioned upon tho performance of the provisions of this chapter relating to the repayment of loans and interest thereon, and tho bylaws of the corporation, although not fully expressed therein. A borrower may repay tho loan and all arrears of inter- est and fines thereon, or ono share thereof, at any stated monthly meeting, or at any other timo, but when not mado at a stated meeting he shall pay interest up to the first monthly meeting after such payment. He may repay his loan in full and release the shares from liability upon tho plodge thereof, or he may, by a proper notice and direction as to the application have tho withdrawal value of tho shares borrowed upon applied in payment or part payment of his loan. Sec. 188. When any member shall be six months in arrears in the payment of dues upon unpledged shares, the secretary shall giro him notico thereof in writing, anda statement of his arrearages by mailing tho samo to him at the last post office address given bv him to tho corporation, and if he shall not pay the same on or before tho second stated monthly meeting thereafter, the board of directors may, at their discretion, declare his shares forfeited; and at the time of such forfeiture, the withdrawal valuo thereof shall bo determined and stated, and the defaulting mem- ber shall bo entitled to withdraw the same without interest within one year, upon such notico as shall bo required of a withdrawing shareholder. If a borrowing member shall bo six months in arrears in the payment of his dues and interest, or either the whole loan shall become duo at tho option of the board of directors, and 648 REPORT OP THE COMMISSIONER OP LABOR. they may proceed to enforce tlio collection upon the securities held by the corpora- tion. Tho withdrawal value at the time of the commencement of the action of all shares pledged r.s collateral security for the loan shall be applied upon the loan and arrearages of interest and fines thereon, and the shares deemed surrendered to the corporation. Sec. 189. Any such corporation may purchase at any salo, public or private, any real property upon which it may havo a mortgage, judgment, lienor any other incumbrance, or in which it may havo any interest, and may sell, convey, lease or mortgage the same at pleasure to any person or persons. It may also borrow money, but not for a longer period than one year, for the purpose of making loans or pay- ing withdrawals, not exceeding two thousand dollars, when its accumulated capital is less than ten thousand dollars ; and not exceeding six thousand dollars when its accumulated capital shall be ten thousand dollars and over, and not more than sixty thousand dollars; and if its accumulated capital exceeds sixty thousand dollars, it may borrow money for such purposes not exceeding ten per cent of its accumulated capital. If any such corporation has a surplus in its treasury for which there is no demand for loans, withdrawing shareholders or matured stock, it may loan the same to any other corporation organized under the provisions of this article, subject to the pro- visions of this section on the part of the borrowing corporation. No corporation shall borrow or make loans authorized by this section except by a two-thirds vote of its board of directors, which shall be recorded by ayes and nays in its regular minutes. Sec. 190. Profits and losses shall be distributed at least annually and always before issuing a new series of stock to all shares in all series outstanding at the time of such distribution, in proportion to their holding value as distinguished from their withdrawing value, except that, in addition thereto, a distribution of not exceeding the amount of the entrance fee, in the discretion of the board of direc- tors, may be made to each share outstanding in the last series issued prior to the distribution. At each periodical distribution of profits, thd board of directors may reserve and carry as undistributed profits, in the nature of a guaranty fund, any sum from tho net profits that in their discretion seems wise, to be applied upon any future losses that may occur from any cause whatever. Sec. 191. Any person of full age and sound mind may become a member of the corporation by taking one or more shares therein and subscribing the bylaws, and annexing to his signature his post office address ; and when he desires his post office address changed, he shall give written notice thereof to tho secretary of tho corpora- tion ; and for tho purpose of giving any member notice by mail, the last post office address given by him shall be deemed tho proper one. A minor may hold shares in the name of a parent, guardian or next friend as trustee for him. No transfer of shares shall be binding upon the corporation until Ike same has been mado upon its books ; and the transferee thereof shall take the same charged with all tho liabilities and conditions attaching thereto in the hands of the person trans- ferring tho same; and the corporation may require a transfer fee not exceeding twenty-five cents per share. All accumulations upon shares held by any person shall bo exempt from execution- and proccodings supplementary thereto to the amount of six hundred dollars; and the corporation shall bo deemed an institution for savings and not taxable under any corporation tax law, which shall exempt savings banks or institutions for savings from taxation; and, no such corporation shall bo liable to pay any tax upon its organization or as a condition thereof. CHAPTER VI. GENERAL LEGISLATION — NORTH CAROLINA. 649 NORTH CAROLINA. CODE OF 1883. Sectiox 2294. It shall be lawful for any individuals or persons in any city or county in this state, under any name hy them to ho assumed, to associate for the purpose of organizing and establishing homestead and building associations, and being so associated shall, on complying -with this chapter, be a body politic and cor- porate, and as such shall be capable in law to hold and dispose of property, both real and personal, may have and use a common seal, may choose a. presiding and other officers, may enact bylaws for the regulation of the affairs of such corporation, and compel the due observance of the same by fines and penalties, may sue and be sued, plead and be impleaded, answer and be answered in any court in this state, and do all acts necessary for the well ordering and good government of the affairs of such corporation, and shall eserciso all and singular tho powers incident to bodies politic or corporate : Provided, that before any such corporation shall bo entitled to the privileges of this chapter, they shall lodge with the clerk of tho superior court of tho county where such corporation is designed to act, a copy of the articles of association of such corporation, signed by at least seven members and certified by tho secretary thereof, to be recorded in the office of such clerk, and shall pay a tax of twenty-five dollars to said clerk, which tax shall bo paid over by the clerk to the treasurer of the county, to the use of tho school fund of the county. Sec. 2295. Any addition, alteration or amendment of, the articles of association of any such corporation snail be signed, certifiod and recorded as is provided in the preceding section of this chapter. Sec. 2296. Any corporation created under and by virtue of this chapter, shall have power to declaro in their articles of association tho number of shares of which the capital stock of such corporation shall consist, the par value of tho same, to limit tho number which each stockholder may be allowed to hold, to prescribe the entrance fee to be paid by each stockholder at the time of subscribing, to regulate the instal- ments to bo paid on each share, and tho times at which tho same shall be paid and payable. Sec. 2297. Any such corporation shall have power to issue to each member of such corporation a certificate of the shares of stock held by him, and to enforce the pay- ment of all instalments and other dues due to said corporation from the members or stockholders by such fines and forfeitures as the corporation may, from time to time, provide in the bylaws or articles of association of such corporation. Sec. 2298. Any person applying for membership or stock in any such corporation after tho end of a month from the date of its incorporation, may be requirod to pay, on subscribing, such sums or assessments as may from time to time be fixed, and assessed in manner as may bo provided by said corporation, in order to place such now member or stockholder on like footing with the original members and others holding stock at the time of such application : Provided, that any association that has been or may be organized under this chapter shall be authorized and empowered to establish one or more additional class or classes of shares, under such rules, regu- lations and restrictions for issuing, paying and redeeming the same as to them shall appear expedient and proper, not inconsistent with this chapter, or laws of the state. Sec. 2299. It shall be lawful for any such corporation at any time in advance of the time at which such corporation shall cease to exist, according to the plan con- tained in the articles of association thereof, to advance to any member thereof for such premium as may be agreed upon', the sum which he would bo entitled to receivo upon the dissolution thereof, for any number of shares therein held by him, or to purchase from any member the share or shares of stock held by him at such price or sum as, according to the articles of association,' such member may agree to receive, and on payment of said sum of money, to receive from such member security as is 650 REPORT OF THE COMMISSIONER OF LABOR. hereinafter mentioned for the payment by such, members to said corporation of the unpaid instalments, to he paid on the share or shares of stock so sold or redeemed, together with interest at the rato of eight per eont per annum, on the sum of money so paid or advanced to such member at such times, and under and subject to such fines and penalties for non-payment thereof as may be prescribed by the articles of association of such corporation. Sec. 2300. The payment of the unpaid instalments on the share or shares so pur- chased or redeemed, with interest upon the sum of money paid therefor as afore- said, at the rato heretofore mentioned, and all fines and penalties incurred in respect thereof by any such member, shall be secured to such corporation by way of mort- gage on real or leasehold property, or by hypothecation of stock of sueh corporation held by such member as may be provided in the articles of association of any such corporation: Provided, in case of hypothecation of stock, no greater sum of money shall at any time be drawn out by any member than shall have already been paid in by him on all his shares at tho time of such hypothecation. Sec. 2300«, (added by chapter 434, public laws of 1893). Every non-resident building and loan association doing business in this state shall appoint a general agent or attorney, who shall be a citizen and resident of this state, and file a certifi- cate of sueh appointment with the aiiditor of state, and copies of such certificates of appointment, certified by tho said auditor, shall be received as sufficient evi- dences of such appointment before any court in this state, and such certificate shall contain a stipulation agreeing that so long as there may be any liability on the part of tho applicant under any contract entered into in pursuance of any law of this state, process may be served in the absence of the principal upon such general agent or attorney : Provided, that service may be made upon the auditor of state, and it shall be his duty in such case to transmit at once a copy of tho process to the home office of the association. S-EC. 2300&, (added by chapter 434, public laws of 1893). Ever}- association doing business under this chapter shall file in tho office of the auditor of state, on or before the first day of March in each year, in such form as ho shall i>rescribe, a statement of the business standing and financial condition of the applicant on the preceding thirty-first day of December, signed and sworn to by said principal or by tho chief managing agent, attorney or officer thereof before the auditor of state, or before a commissioner of affidavits for North Carolina, or before some notary public. Sec. 2300c, (added by chapter 434, public laws of 1893). Every association doing business under this act shall file in the office of tho auditor of state a copy of the charter, articles of association, or other statement, showing the mode in which the applicant proposes to do business. Sec. 2300cZ, (added by chapter 434, public laws of 1893). It shall be the duty of the auditor of state to receive and thoroughly examine each annual statement required by this act, and if made in compliance with the requirements of this act to publish an abstract of tho same in one of the newspapers of the state, to be selected by tho general agent or attorney making such statement, and at the expense of his principal. The auditor of state shall be entitled to a fee of five dollars, to be paid by tho association filing such statement. Sec. 2300e, (added by chapter 434, public laws of 1893), Ifthe auditor of state shall become satisfied at any time that any statements made by any association licensed under this act shall bo untrue, or in case a general agent shall fail or refuse to obey the provisions of this act, tho auditor of state shall notify the state treasurer of such default, and tho state treasurer shall thereupon have power to revoke and cancel sueh license. Sec. 2300/, (added by chapter 434, public laws of 1893). It shall bo the duty of any person having in his possession or control any books, accounts or papers of any association licensed under this act to exhibit the same to the anditor of state on demand, and on refusing so to do, or knowingly or wilfully making any false state- CHAPTER VI. GENERAL LEGISLATION — NORTH DAKOTA. 651 ment in regard to the same, sucli person shall be deemed guilty of a misdemeanor, and upon conviction thereof shall he fined or imprisoned, or both, at the discretion of the court. Sec. 2300;7, (added by chapter 434, publie laws of 1893). Every general agent or attorney who shall fail or refuse to perform any duty required of him by this act shall forfeit and pay to the auditor of state fifty dollars for every such refusal, to be recovered before any justice of the peace at tho suit of the said auditor. Sec. 2300ft, (added by chapter 434, public laws of 1893). Any person who shall solicit or transact any business for or concerning any association not duly licensed as in this act provided shall be guilty of a misdemeanor, and upou conviction thereof shall be fined or imprisoned, or both, in the discretion of the court. PUBLIC LAWS OF 1893. Chapter 294. Section 30. * * * Every building and loan association conducting business in the state shall pay annually to the state treasurer a tax according to the paid in capi- tal as follows : A paid in capital of two hundred thousand dollars ($200,000) or more, one hundred dollars ($100) ; on paid in capital of fifty thousand dollars (,$50,000) and less than two hundred thousand dollars ($200,000), fifty dollars ($50) ; oh a paid in capital of twenty-five thousand dollars ($25,000) and less than fifty thousand dol- lars ($50,000), twenty-five dollars ($25) ; on a paid in capital of five thousand dollars ($5,000) and less than twenty-fivo thousand dollars {$25,000), ten dollars ($10) ; on a paid in capital of less than five thousand dollars ($5,000), five dollars ($5) : Pro- vided, that no counties or corporation shall be allowed to add any additional tax, license or other fee. Any building ami loan association which does business in this state without paying such tax shall be guilty of a misdemeanor. CnAPTER 434. Section 2. No building and loan association shall be required to pay any tax or license except such as are specified in the "Act to raise revenue" [chapter 294, public laws of 1893], passed at this session of the general assembly. WORTH DAKOTA. COMPILED LAWS OF 1887 (TERRITORIAL). Section 3166. At any time when ten or more persons may desire to form a build- ing and loan association under the provisions of this act, they shall make application to the secretary of the territory in the -manner prescribed by section 3175. The said secretary is hereby fully empowered to grant charters to said associations, provided that no charter granted under or by virtue of the provisions of this act shall be for a longer period than twenty years. Sec. 3167, (as amended by chapter 40, territorial laws of 1889). The capital stock of any corporation created by this act shall be paid in at such times, amounts and places as the bylaws shall appoint; every share of stock shall be subject to a lien for the payment of unpaid instalments, and other charges incurred thereon under provisions of the charter and bylaws and the bylaws may prescribe tho form and manner of enforcing such lien ; new shaTes of stock may be issued in lieu of the shares withdrawn or forfeited, the stock may be issued in one or more successive serie3 in such amounts as the board of directors or stockholders may determine and any stockholder wishing to withdraw from the said corporation shall have power to do so by giving thirty days notice of his or her intention to withdraw, when he or she shall be entitled to receive the amount paid in by him or her and such proportion of the profit as the bylaws may determine, less all fines and other charges; Provided 652 REPORT OP THE COMMISSIONER OF LABOR. that at no time shall more than one-half the funds in the treasury of the corpora- tion be applicable to the demands of withdrawing stockholders without the consent of the board of directors ; and that no stockholder shall be entitled to withdraw whose stock is held in pledge for security. Upon the death of the stockholder his or her legal representatives shall be entitled to receive the full amount paid in by him or her and legal interest thereon, first deducting all charges that may be due on the stock. No fines shall be charged to a deceased member's account from or after his decease, unless the legal representatives of such decedent assume the future pay- ment on stock. The capital stock of any building and loan association heretofore incorporated or to be incorporated may be increased or diminished and the other provisions of this act made' operative and applicable to building and loan associations incorporated or to be incorporated by a two-thirds vote of the board of directors of such corpora- tion upon publishing in two newspapers of general circulation in the county in which such association is located for two weeks notice of intention to increase capital stock and upon filing with secretary of the territory a certified copy of the minutes of the meeting of the board of directors of such association at which it was voted to increase the capital stock together with proof of publication of the notice herein- before provided for. Sec. 316&. The number, titles, functions and compensation of the officers of any corporation created by virtue of this act, their terms of office, the times of their election, as well as the qualifications of electors, and the votes and manner of voting, and the periodical meetings of said corporation, and the manner and terms upon which loans shall be made and repaid shall be determined by the bylaws. Sec. 3169. The said officers shall hold stated meetings at which the money in the treasury, if equal to the amount of one share of stock in such corporation shall be offered for loan in open meeting, and the stockholder who shall bid the highest pre- mium for the preference or priority of loan shall be entitled to receive a loan of the full amount for each share of stock held by such stockholder ; Provided, that good and ample security shall be'given by the borrower to secure the repayment of the loan. In case the borrower shall neglect to offer security that is approved by the board of directors by such time as the bylaws may prescribe, he or she shall be charged with one month's interest at the rate charged by the association on loans, and a fine not to exceed one dollar per share, together with any expenses incurred, and the money shall be resold at the next stated meeting. In case of non-payment of instalments, or interest or premium by borrowing stockholder, for the space of six months, payment of principal and interest, without deducting the premium paid or interest thereon, may be enforced by proceeding on their securities aocording to law. Sec. 3170. A borrower may repay a loan at any time by the payment to the cor- poration of the principal sum borrowed, together with interest, not to exceed twelve per cent* per annum, together with such per cent of premium per annum as may have been bid for the preferences or priority of such loan and any fines or charges that may be imposed upon such stockholder at the time of such repayment; or in case the amount of premium bid for the priority of such loan be deducted in advance, and the repayment thereof is made before the expiration of the eighth year after the organization of the corporation, there shall be refunded to such borrower one-eighth of the premium paid for every year of the said eight years unexpired ; Provided, that when the stock is issued in separate series, the time shall be computed from the date of the issuing of the shares of stock on which the loan was made ; Provided further. that when the series of stock has a less period than eight years to complete full payment thereof, there shall be refunded only pro rata for the unexpired term of the series; And, provided further, when the bylaws of the corporation prescribe a different manner and terms upon which a loan may be repaid, then the repayment can only be made in accordance with the bylaws of such corporation. Sec. 3171. . No premiums, fines or interest on such premiums that may accrue to the CHAPTER VI. GENERAL LEGISLATION — NORTH DAKOTA. 653 said corporation according to the provisions of this act shall ho deemed usurious; and the same may he collected as dehts of like amount arc now by law collected in this territory. Sec. 3172. No corporation created under this act shall cease or expire from neglect on the part of the corporation to elect officers at tho time mentioned in their charter or bylaws, and all officers elected hy such corporation shall hold their offices until their successors are duly elected and qualified. Sec. 3173. Any building or loan association incorporated by or under the provi- sions of this act, or any one heretofore or hereafter incorporated, accepting of the pro- visions of the same, is hereby authorized and empowered to purchase at any sheriff's or other judicial sale, or at any other sale, public or private, any real estate upon which such association may have or hold any mortgage, judgment, lien or other incumbrance, or in which said association may have an interest, and the real estate so purchased, or any other that such association may hold or be entitled to at the passage of this act to sell, convey, lease or mortgage at pleasure to any person or persons whatsoever, aud all sales of real estate heretofore made by such association to any person or persons not members of tho association so selling are hereby con- firmed and made valid. Sec. 3174. All mortgages heretofore given to the building and loan associations organized under tho laws of this territory before tho passage of this act or subsequent hereto, but such associations subsequently accepting the provisions hereof, be and the same are hereby declared good and valid. to all intents and purposes, as though they had been made to corporations organized under the provisions of this act. Sec. 3175. Tho charter of au intended corporation under the provisions of this act, must be subscribed by ten or more persons, a majority of whom must be citizens of this territory, and set forth : 1. The name of the corporation. 2. The purpose for which it is formed. 3. The place where its principal office, or the business is to be transacted. 4. The time for which it is to exist. 5. The names and residences of the subscribers, and the number of Bhares sub- scribed by each. 6. The number of its directors, and the names and residences of those who are selected as directors, and who shall hold their office until the next annual election, or until their successors are elected and qualified. 7. The amount of its capital stock, and the number and par value of its shares. Sec. 3176. Notice of the intention to apply for any such charter shall bo inserted in two newspapers of general circulation printed in the proper county for three weeks, setting forth briefly the character and object of the corporation to be formed, and the intention to make application therefor. The certificate for a corporation under the provisions of this act, shall seUforth all that is hereinbefore required to be set forth, the same shall be acknowledged by at least five of the subscribers thereto before a notary public or other officer authorized to administer oaths, and they shall also make and subscribe an oath or affirmation beforo him, to be indorsed on said certificate that the statements contained therein are true. The said certifi- cate, accompanied with proof of publication of the notice as hereinbefore provided, shall then be produced to the secretary of the territory, who shall examino the same and if ho find it to be in proper form, as specified in the foregoing sections, he shall approve thereof, and indorse his approval thereon, and issue letters patent in the usual form incorporating the subscribers and their associates and successors into a body politic and corporate in deed and in law, by the manner chosen; and the said certificate shall be recorded in the office of the secretary of tho territory, in a hook to be by him kept for that purpose, and a certified copy of tho said certificate shall be recorded in the office of the register of deeds of tho county whero the principal business of tho association is transacted. Certified copies of the records thereof shall be conrpetent evidence for all purposes in the several courts of this territory. 654 REPOET OF THE COMMISSIONER OF LABOR. Sec. 3177. The bylaws of every corporation treated under the provisions of this act or of those accepting the provisions of the same, shall be deemed and taken as its law, subordinate to this statute. They shall bo made by tho stockholders, or the board of directors, at their annual meeting or at any stated meeting of the board of directors. They shall prescribe the time aud place of meeting of the corporation, the power and duty of its officials, the fines and penalties to be imposed upon delin- quents and borrowers for the non-payment of dues, interest, and premiums, aud such other matters as may be pertinent and necessary for the business to be trans- acted. Sec. 3178. The business of every corporation created hereunder, or of those accept- ing the jirovisions of the same, shall be managed and .conducted by a president, a board of directors or trustees, a secretary and treasurer, and. such other offieerB or agents as the bylaws may provide. The directors or trustees shall be elected annually by the stockholders or members, at the time fixed by the bylaws, and shall hold their office until others are chosen and qualified in their stead ; tho manner of such choice, and of the ehoiee or appointment of all other agents or officers, shall be prescribed by the bylaws. The number of directors or trustees shall not be less than five, ono of whom shall be chosen president by the directors, or by the mem- bers of the corporation, as the bylaws may direct ; the members of said corporation may, at a meeting called for that purpose, determine, fix or change the number of directors or trustees that shall thereafter govern its officers, and a majority of the whole number of such directors or trustees shall be necessary to constitute a quorum. The treasurer shall give bond in such sum, and with sueh sureties as shall be required by tho bylaws, for the faithful discharge of his duties, and ho shall keep the moneys of the corporation in a separate bank account, to his credit as treasurer, and if he shall neglect or refuse so to do, he shall bo liable to a penalty of fifty dollars for every day he should fail so to do, to be recovered at the suit of any informer in an action of debt. Sec. 3179. The directors of such corporation shall proeure certificates or evidences of stock, and shall deliver them signed by the president and secretary and sealed with the common seal of tnc corporation to each xierson or party entitled to receive tho same according to the number of shares by him, her or them respectively held, which certificate or evidence of stock shall be transferable at the pleasivro of the holder in person or by attorney duly authorized as tho bylaws may prescribe, sub- ject, however, to all payments due or to become due thereon, and the assignee or party to whom the same shall nave been so transferred shall bo a member of said corporation, and have and enjoy all the immunities, privileges and franchises, and be subject to all tho liabilities, conditions and penalties incident thereto, in the same manner as the original subscriber or holder would have been, but no certificate shall be transferred so long as the holder is indebted to said company, unless the board of directors shall consent thereto. Sec. 3180. No person acting as judge or officer for holding an election for any such corporation shall enter upon the duties of his appointment until he take and sub- scribe an oath or affirmation before a notary public or other person qualified by law to administer oaths, that ho will discharge the duties of his office with fidelity, that he will not receive any vote but such as he really believes to bo legal, and if any sueh judge or officer shall knowingly or wilfully violate his oath or affirmation he shall be subject to all the penalties imposed by law upon the officers of tho general election of this territory for violating their duties, and shall be proceeded against in like manner and with like effect. Sec. 3181. In case of the death, removal or resignation of the president, or any of the directors, secretary, treasurer or other officer of such company, the remain- ing directors may supply the vacancy thus created until the next general election. Sec. 3182. It shall be lawful for any building and loan association now incorpo- rated under the general laws of this territory and accepting the provisions of this CHAPTER VI. — GENERAL LEGISLATION — NORTH DAKOTA. 655 act, or that may hereafter be incorporated, in addition to dues and interest to charge and receive the premiums or "bonus hid by a stockholder for preference or priority of right to a loan in periodical instalments, and such premium or bonus so paid in instalments shall not be doomed usurious, but shall be taken to be a payment as it falls duo, in contradistinction to a premium charged and paid in advance, in so far as said premium or bonus so charged and paid, in addition to dues and interest, shall be in excess of two dollars for each periodical payment, tho same shall bo lawful, any law, usage or custom to tho contrary notwithstanding; Provided, that tho cer- tificate of incorporation of each association hereafter to be incorporated, and the certificate provided in section 3184, for those heretofore incorporated, shall set forth whether tho premium or bonus hid for the prior rights to a loan shall be deducted therefrom in advance or paid in periodical instalments. Sec. 3183. The bylaws of such association may provide for tho voluntary with- drawal and cancellation at or before maturity of shares of stoelt not borrowed on; Provided, that such withdrawal and cancellation shall bo pro rata among tho shares of the same series of stock; And provided, further, that not less than twelve per cent per annum shall bo credited and allowed to each share so withdrawn and cancelled. Sec. 3184. Any building and loan association heretofore or "hereafter incorporated under the provisions of any law of tho territory shall ho entitled to all the privileges and immunities, franchises and powers, conferred by this artiolo upon filing with the secretary of the territory a certificate to bs by him recorded as provided in sec- tion .3176 of their acceptance of the same, in writing under the duly authenticated seal of the said association, which certificate shall also prescribe their mode or plan' of charging premiums ot bonns for priority of loan as set forth in section 3182, and upon such acceptance and approval thereof by tho secretary of tho territory he shall issue his certificate to said corporation reciting the same. Sec. 3185. Any company heretofore incorporated under any general law of this territory, or by virtue of any special charter heretofore granted by the legislature thereof, incorporating any company for tho purpose of doing a banking, loan or other business provided for in chapter 3 of title 2 [part 3, division second] of the civil code of this territory, relative to privato corporations; or any building and loan association heretofore incorporated, and having accepted tho provisions of article 16 of said chapter, as therein provided, shall be entitled to all tho privileges, immunities, franchises and powers mentioned in said ehapter 3, and tho privileges, immunities and powers recited in said article 16, upon filing with the secretary of the territory a certificate to bo by him recorded, which certificate shall be under the duly authenticated seal of such corporation, and shall set forth such corporation's acceptance of the provisions of an act entitled, "An act to amend section 384 [sec- tion 2902 of this compilation] of chapter 3 of the civil code," approved February 7, 1887. Sec. 3186. Upon the acceptance and approval of said certificate, by the secretary of the territory, such corporation shall thenceforth bo entitled to all the privileges, immunities, franchises and powers conferred by said act to amend section 384 [2902 of this compilation] of chapter 3 of the civil code, approved February 7, 1887, in the same manner as if incorporated under the provisions thereof. Sec. 3187. And it is further provided, that all the acts of such incorporations previously done under and by virtue of their then existing charters shall be and are hereby ratified and made legal. Sec. 3188. Any corporation existing at tho passage of this act, formed under the laws of this territory, may elect to continue its existence under the provisions of this chapter applicable thereto, and it may, at any time thereafter, make such choice or election, at any meeting of the stockholders or members, or at any meeting called by the directors or trustees expressly for considering the subject, if voted for by stockholders representing a majority of the capital stock, or by a majority of its members ; or it may be madeby the directors or trustees upon tho written consent of 656 REPORT OF THE COMMISSIONER OF LABOR. that number of such stockholders or members. A certificate of the action of the directors or trustees., signed by them and their secretary, -with the seal of the corpo- ration, when the election is made upon such written consent, or, a certificate of the proceedings of tho meeting of the stockholders or members, when such election is so made, signed by the chairman and secretary of the meeting, and a majority of the directors and trustees, must bo filed in the office of the secretary of the territory, and thereafter the corporation shall continue its existence under the provisions of this chapter which are applicable thereto, and shall possess all tho rights and powers, and be subject to all tho obligations, restrictions and limitations prescribed thereby. Sec. 3190. No corporation created or organized under tho laws of any other state or territory shall transact any business within this territory, or acquire, hold, and dispose of property, real, personal or mixed, within this territory, until such corpo- ration shall have filed in tho office of tho secretary of the territory, a duly authenticated copy of its charter or articles of incorporation, and shall have complied with the provisions of this article; Provided, that the provisions of this act shall not apply to corporations or associations created for religious or charitablo purposes solely. Sec. 3191. Such charter or articles of incorporation shall be recorded in a book to bo kept by the secretary of this territory for that purpose. Sec. 3192. Such corporation shall appoint an agent, who shall reside at some aecessiblo point in this territory, in tho county where tho principal business of said corporation shall be carried ou, duly authorized to accept service of process, and upon whom service of process may be made in any action in which said corporation may be a party; andscrvicc upon such agent shall bo taken and hold as duo service upon such corporation. A duly authenticated copy of the appointment or commis- sion of such agent shall be filed and recorded in tho office of the secretary of the territory and register of deeds of the county where said agent resides, and a certified copy thereof by tho secretary or register of deeds shall be conclusive evidence of the appointment and authority of such agent. TERRITORIAL ACTS OF 1889. Chapter 40. Section 1. Any building and loan association or corporation incorporated or to be incorporated under and by virtue of the laws of the territory of Dakota that wishes to extend its business outside of and beyond the boundaries of the said territory of Dakota may do so upon complying with the provisions of this act. Sec. 2. Such corporation or association shall insert in its articles of incorporation a statement of its intention to do business within and without the territory of Dakota, or it shall amend its articles of incorporation by adding such a statement to them. Sec. 3. Such corporation shall have a board of directors of not less than five nor more than thirteen, who shall constitute the managing board of such corporation for all series issued. Sec. i. Such corporation may in its bylaws fix a per cent premium at less than which it will not be obliged to accept loans. Sec. 5. Not loss than 83 per cent of all monthly dues collected from members of said corporation shall bo put into a fund to be known as tho loan fund, no part of which shall be used by said company for tho purpose of paying its expenses or the expense of carrying on its business, excepting interest, taxes and insurance. Sec 6. Any such corporation which may hereafter be incorporated shall designato a national bank as its treasurer and shall appoint a trust company as trus'toe to reeeivo from i fc and from its treasurer all moneys of said corporation belonging to its loan fund to hold its securities and to perform such other acts of trust and guarantee a the directors of said loan corporation under its bylaws may authorize and direct. Sec. 7. Any funds of S'j.ch corporation not loaned for a period of more than 30 CHAPTER VI. GENERAL LEGISLATION NORTH DAKOTA. 657 days and for whicli there is no sufficient demand under the provisions of the articles of incorporation and bylaws of the corporation may be loaned by tho corporation at any rate of interest allowed by law upon any security approved and accepted by the board of directors of said corporation. Sec. 8. Such corporation shall have power to borrow money upon debentures issued to it by tho trust company holding its securities or it may borrow upon its securi- ties direct under such restrictions and regulations as its bylaws may provide. Sec. 9. Tho board of directors of such corporation shall have power in their dis- cretion to retire tho unpledged shares of stock of such corporation at any timo after tho third year from the date of issue of such stock and to enforce tho withdrawal of tho same in such manner and under such regulations as they may deem best for the interest of tho corporation. They shall determino by lot or in any other impartial manner which shares shall be thus retired, but no unmatured stock shall be retired while any matured stock remains in force. Sec. 10. All tho laws of the territory of Dakota respecting building and loan asso- ciations shall apply equally to corporations herein provided for except wherein such laws may conflict with the provisions of this act. Chapter 41. Section 1. All building and loan corporations created by virtue of the laws qf Dakota territory, shall annually on the first day of January, make a truo and cor- rect statement, verified by the oath of its president or secretary, setting forth its actual financial condition, and the amount of its property and liabilities, which statement shall bo forwarded to tho secretary of the territory, not later than.tll* - tenth day of January, under a penalty of five hundred dollars ($500) to tho territory, to be recovered by indictment against tho president, secretary or directors. And the secretary upon receipt of such statement, if he be satisfied from tho same, that such association be solvent and conducting its business in a safe and conservative manner, shall issue to such association a certificate authorizing it to continue busi- ness for the ensuing year, and the secretary shall be entitled to a fee therefor of $5 to bo paid by such association. Any such association shall also cause to be pub- lished for. one month, a copy of said statement in at least one newspaper of general circulation, published in the county where tho principal office or place of business of such association is located. Sec. 2. No foreign building and loan association or corporation, having the words "building and loan" as apart of its name, shall be entitled to do business in the territory of Dakota, until it shall have made application to the secretary for per- mission to do business in the torrifcory ; and tho secretary shall have examined into the financial condition of such associations and its method of doing business, and if the secretary be satisfied upon such examination, that such association is solvent and its method of doing business, such as is likely to be beneficial to all of its members alike, he shall issue a certificate of authority to such association as provided for in section 1, of this act, such association having first published for three weeks, a true and complete statement of its financial condition, sworn to by its president and secretary, in at least one newspaper of general circulation, in each county in which such association wishes to trausact business, and having furnished tho secretary an affidavit of such publication made by the publishers of such newspaper. For such examination tho secretary shall be entitled to the sum of ten dollars ($10) per day, and ton cents per mile for the distance actually travelled in making such examina- tions The said certificate, shall entitle such association to transact business m the territory for one year only from its date, and annually thereafter during tho month of January, such association shall publish said statement in tho manner abovo described and it shall bo tho duty of the secretary to make an examination of such associations as abovo stated, for which he shall receive the compensation above H. Ex. 209 42 658 REPORT OF THE COMMISSIONER OF LABOR. specified. No such association shall beentitled to transact business untilhaving first fully complied with the provisions of this section. Sec. 3. As building and loan corporations are aggregations of laborors, mechanics, ■workmen and working women, which start without any paid-up capital, and as theso members only. pay oach month an assessment in proportion to shares, for the purpose of furnishing a home to each of its members in turn, which assessment stops the moment that every member has thus been furnished with such a, homo, these associations aro hereby declared to be benevolent institutions within the meaning of section 2, chapter 28, of the Political Code of 1877, aud as the monthly assess- ments paid in by the members of these associations are immediately given to one member, to enable such momber to bu,ild a home, and as such member immediately begins to pay taxes on the homo thus erected, and as the shares held by such mem- bers merely entitle them, in the future, in their turn to get money to build homes) shares issued by such associations shall be. exempt from taxation. LAWS OF 1890. Chapter 132. Section 5, (as amended by chapter 100, acts of 1891). All property described in this section to the extent herein limited shall be exempt from taxation, that is to say: * * * Seventh. The shares of stock in all building associations organized under the laws of this state where the loans of such association are, by the bylaws thereof, confined strictly to members of the county in which such association is located. * * * OHIO. LAWS OF 1891. (Pages 469-477.) Section 1. A corporation for the purpose of raising money to be loaned among its members shall bo known in this act as a building and loan association. Associations organized under the laws of this state shall be known in this act as "domestic" asso- ciations, and those organized under the laws of other states or territories, as "for- eign'' associations. Associations may be organized and conducted under the general laws of Ohio relating to corporations, except as otherwise provided in this act. Sec. 2. Tho capital stock named in the articles of incorporation shall ho deemed to refer to the authorized capital, and the organization may be completed and business commenced when five per cent thereof is subscribed. Directors may be elected for any term, not less than one year nor longer than three years, but if such term bo longer than ono year, it shall bo so arranged that the term of office of an equal number of directors, as nearly as may be, will expire each year. Sec. 3. Such corporation shall havo power : To receive money on deposit from time to time to tho extent necessary to meet the demands made on it by its members and depositors, but shall not pay interest thereon, exceeding the legal rate. To issue stock to members on such terms and conditions as the constitution and bylaws may provide; but no person shall vote more than twenty shares in any such corporation in his own right. To assess and collect from members and depositors such dues, fines, interest and premium on loans made, or other assessments, as maybe provided for in tho constitution and bylaws. Such dues, fines, premiums or other assessments shall not bo deemed usury, although in excess of the legal rate of interest. To permit mem- bers to withdraw all or part of their stock deposits at such times and upon such terms as tho constitution and bylaws may provide. Any member, however, who with- draws his entire stock or whoso stock has matured, shall be entitled to receive all dues paid in and dividends declared, less all fines or other assessments, and less a pro CHAPTER VI. — GENERAL LEGISLATION' — OHIO. 659 rata stare of all losses, if any havo occurred. To cancel shares of stock upon which all payments have been withdrawn, or upon which loans have been cancelled, and reissue them as new stock. To issuo stock to minors and permit the same to be withdrawn as other stock, and the receipt of such minor shall bo a valid acquittance, if his rights have been fully secured to him. To acquire, hold, encumber and convey such real estate and personal property as may bo necessary for the transaction of its business or necessary to enforce or protect its securities. To borrow money, not exceeding twenty per cent of the assets, and issue its evidences of indebtedness therefor. To make loans to members and depositors on such terms, conditions, and securities as may bo provided in the constitution and bylaws. To cancel such loans and release the securities on such terms as tho board of directors may provide. But any member may havo his loan cancelled up.on the following terms, to wit : After the premium for one year has been paid, and also tho interest and premium up to tho dato of can- cellation, tho borrower shall pay tho sum actually, borrowed, loss the dues paid and dividends credited. Ho shall pay also any fines or other assessments required by the constitution or bylaws. To accumulate from tho earnings and invest as tho board of directors may determine, a reserve fnnd, for the payment of contingent losses. To make such annual or semi-annual distribution of the earnings (after paying expenses and setting aside a sum for tho reserve fund as hereinafter provided'), as tho consti- tution and bylaws may prescribe. To increase or decrease its authorized capital or tho face value of its shares at any time, by a majority vote of its board of directors; and a certificate of such action shall be made by the president and secretary, and duly filed with the secretary of state. To dissolve the corporation when its contin- uance shall be deemed, by a majority vote of its members, to bo no longer desirable, subject, howover, to tho vested rights of members. To provide, by constitution adoptod by its members, and bylaws adopted by its board of directors, for tho proper exercise of the powers herein granted, and the conduct and management of its affairs. All such other powers as are necessary and proper to enable such corporation to carry out the purpose of its organization. Sec. 4. The board of directors shall designate a bank or banks in which the treas- urer shall deposit all funds in tho namo of such corporation. Such funds can then bo withdrawn only by cheek signed by the president and financial secretary, or such other officers as tho board of directors may designate. Tho treasurer's bank book shall bo open to the inspection of any director at any time. No president or secretary or other officer shall sign any chock unless tho expenditure has been author- ized by the board of directors. All officers of such association who havo charge or possession of money, securities, or property, shall give bond beforo entering upon their duties to tho satisfaction of the board of directors, for tho faithful performance of tho same, and tho safe keeping and proper application of all moneys or property coming into their hands. All officers of such corporations on being reelected to office shall renew their bonds. The bond may be increased or additional sureties required at any time by the board of directors. Directors shall not be eligible as bondsmen, and shall be individually liable for any loss to members, caused by their neglect to comply with tho provisions of this section. Sec. 5. Tho amount to be set asido to the fund for contingent losses shall be deter- mined by the board of directors, but in all permanent or perpetual associations, at least five per cent of the net earnings shall bo set aside each year to such fund until it reaches at least fivo per cent of the outstanding loans. All losses shall bo paid out of such fnnd until tho samo is exhausted, and whenever the amount in said fund falls below fivo per cent of the loans as aforesaid, it shall be replenished by annual appropriations of at least five per cent of the net earnings as hereinbefore provided until it again reaches said amount. Sec. G. All expenses of such associations shall be paid out of tho earnings only, and so much of the earnings as may be necessary shall be set asido each year for such purpose. But charges incident to a loan, if paid by the borrower, shall not be deemed 660 REPORT OF THE COMMISSIONER OF LABOR. a part of the current expenses. A portion of the earnings, to bo determined by -the board of directors, shall also be reserved annually or semi-annually, for the payment of contingent losses, as provided in section five of this act, and the residue of such earnings shall be transferred as tv dividend annually, or semi-annually, in such pro- portion to tho credit of all members, as the corporation by its constitution and bylaws may provide, to be paid to them at such time and in such manner in conformity with this act as tho corporation by its constitution and bylaws may provide. All losses shall be assessed in the same proportion and manner on all members after the amount in tho reserve fund has been applied to tho payment of the same. Sec. 7. The shares and loans, advanced to its members, shall be exempt from taxa- tion, except shares or stock upon which no loans have been made or money advanced by the company, shall be considered and held as credits, and the said members indi- vidually shall list for taxation the number of shares held by them, and the true value thereof in money, on the. day preceding the second Monday in April in each year, and tho same shall be assessed at such valuation for taxation and taxes as other property. Sec. 8. There is hereby established in the department of insurance a bureau to bo known as the bureau of building and loan associations, which shall bo charged with the execution of tho laws of this state relating to building and loan associations. Sec. 9. The chief officer of said bureau shall bo known as tho inspector of build- ing and loan associations; the superintendent of insurance, shall, ex officio, bo also tho inspector of building and loan associations, and as compensation for his services assuch inspector he shall be entitled to receivo the sum of one thousand dollars per annum. Before entering upon his duties, ho shall give bond to tho state of Ohio in tho sum often thousand dollars,- to be approved by tho govornor, conditioned for the faithful discharge of his duties, and tho bond, with his oath of office and the approval of tho_governor indorsed thereon, shall be filed with the secretary of state, i The inspector may appoint a deputy, who shall bo authorized to perform tho duties attached by law to the ofiice of inspector, during his absence or disability, and shall receivo a salary of eighteen hundred dollars per year. He shall also appoint such other clerks or examiners as may bo provided for by law. Sec. 10. The adjutant general shall provide suitable accommodations. for the con- duct of the business of the bureau in the office of tho superintendent of insurance and furnish tho necessary furniture, etc., and the expense for the same shall bo paid out of the state treasury, on tho certificate of tho inspector and the warrant of the adj utant general . Sec. 11. It shall bo the duty of tho inspector to seo that all the laws of this state, relating to building and loan associations, are faithfully executed. Sec. 12. Foreign building and loan associations doing business in this state, shall conduct tho same in accordanco with the laws of the state governing domestic asso- ciations, and no such association shall do any business in this state until it procures from tho inspector a certificate of authority to do so. To procuro such authority, such association shall comply with tho following provisions : 1. It shall deposit with tho inspector one hundred thousand dollars, either in cash or bonds of tho United States or of tho state of Ohio, or of any county or municipal corporation in tho state of Ohio, satisfactory to the inspector. 2. It shall file with tho inspector a certified copy of its charter, constitution and bylaws, and other rules and regulations showing its manner of conducting business together with a statement such as is required annually from all associations. 3. It shall also file with tho inspoctor a written instrument, duly executed, agree- ing that a summons may issue against it from any county in this state directed to the sheriff of tho county in which tho office of inspoctor is situate, commanding him to serve tho samo by certified copy personally upon the inspoctor or by leaving a copy thereof at his office. Tho inspector shall, however, mail a copy of any papers served ' on him, postage prepaid, to tho home office of such association. CHAPTER VI. — GENERAL LEGISLATION — OHIO. 661 . -Sec. 13. Whenever suck association has complied with tho provisions of this act, and the inspector is satisfied that such association is doing "business according to the laws of this state, and is in sound financial condition, ho shall issue his certifi- cate of authority to such association to do business in this state. Annually there- after, upon the filing of tho annual statement herein provided for, if the inspector shall be satisfied as aforesaid, he shall issuo a renewal of such certificate of authority. Sec. 14. Such foreign association may collect and use the interest on any securities so deposited, so long as it fulfils its obligations and complies with tho provisions of this act. It may also exchange them for other securities of equal value and satis- factory to tho inspector. Sec. 15. The deposit made with tho inspector shall bo held as a security for all claims of residents of this state against said association, and shall be liable for all judgments or decrees thereon, and subjected to the payment of tho same in the same manner as the property of other non-residents. Should any association cease to do business in this state, tho inspector may release securities in his discretion, retaining sufficient to satisfy all outstanding liabilities. Sec. 16. Every building and loan association doing business in this state shall, annually, at the end of each fiscal year, or within forty days thereafter, make a full and detailed report in writing of the affairs and business of the association for the preceding year, and showing its financial condition at the end of said fiscal year. With the first report made by any association it shall also file a certified copy of itS' constitution and bylaws, or other rules and regulations, showing its manner- of' doing business. Sec. 17. The statement shall be in such form and contain such information asmay be prescribed by the inspector of building associations. It shall be sworn to by the secretary, and its correctness attested by at least three directors, or an auditing com-' mittee appointed by the board. Tho original shall be filed with the inspectorof building associations within forty days after the close of the fiscal year, and such an abstract thereof as tho inspector may require shall be posted for sixty days in the office or meeting place of such association, and also published in some paper regularly issued in the county in which said association is located. Sec. 18. Tho inspector, when ho has reason to suspect tho correctness of any state- ment of an association doing business in this state, or that its affairs are in an un- sound condition, or that it is not conducting its business in accordance with law, may mate or cause to be made by some person by him appointed for that purpose, an examination into tho affairs of such association. The expense of all examinations shall be paid by the associations examined, except that the actual expense of the examination of an association organized under the laws of this state, shall be paid out of tho fees paid by such associations to the inspector as hereinbefore provided. Should the inspector, upon examination, find any domestic association conducting its businoss in whole or in part contrary to law, or failing to comply with tho law,- ho shall so notify the board of directors of such association in writing, and if, after thirty days, such illegal practices or failure continue, he shall communicate the facts to the attorney general, who shall cause proceedings to be instituted in the proper conrt to revoke the charter of such association Should the inspector find, upon examination, that the affairs of any such associa- tion arc in an unsound condition, and that the interests of the public demand the dissolution of such association, and tho winding up of its business, he shall so report to tho attorney general, who shall institute the proper proceedings for that pur- pose. Sec. 19. Such examiners shall have access to and may compel the production of all tho books, papers, securities and moneys, etc., of the association, under examina- tion. They shall have power to administer oaths to, and examine the officers and agents of such association as to its affairs. 6()2 REPORT OF THE COMMISSIONER OF LABOR. Sec. 20. When the inspector deems it to the interest of the public, he may publish the results of such examination in some newspaper of general circulation in the county in which such association is located, if it be a domestic association, and in some newspaper in tho city of Columbus, Ohio, if it he a foreign association. Sec. 21. Should the inspector find, upon examination, that any foreign association does not conduct its business in accordance with the law, or that the affairs of any such association are in an unsound condition, or if such association refuses to permit examination to be made, he may cancel the authority of such association to do business in this state, and cause a notice thereof to be mailed to the home office of the association, and to be published in at least one newspaper published in the city of Columbus. After the publication of such notice it shall be unlawful for any agent of said association to receive any further stock deposits from members residing in this state, except payments on stock on which a loan has been taken. Sec. 22. Foreign building and loan associations shall pay to the inspector the fol- lowing fees, which shall be paid into the state treasury, to wit : For filing each application for admission to do business in this state, one hundred dollars. For each certificate of authority and annual renewal of same, fifty dollars; both foreign and domestic associations shall pay to the inspector for filing each annual statement, as follows : If tho assets of the association, as shown by the statement filed, amount to $50,000 or less, $3; if more than $50,000 and less than $100,000, $5; if more than $100,000 and less than $250,000, $10; if more than $250,000 and less than $500,000, $20; if more than $500,000 and less than $1,000,000, $30; and if more than $1,000,000, $50. For each copy of a paper filed in his office, twenty-five cents per folio. For affixing the seal of office and certifying any paper, one dollar. Provided hoivever, that the inspec- tor may retain from the fees so received by him up to tho close of the fiscal year ending November 15, 1892, a sum sufficient to pay the salaries and necessary expenses of the bureau of building and loan associations up to said time, which sum is hereby appro- priated for that purpose. Sec. 23. All securities of cash deposited with the inspector shall be immediately deposited with the treasurer of state, who, with his sureties, shall be responsible for tho safe keeping thereof. The treasurer shall deliver such securities only upon the written order of the inspector of building associations. Sec. 24. It shall bo unlawful for any building and loan association to do business in this state without having first complied with the provisions of this act, and any association violating any of the provisions of this act, or failing to comply with any of its provisions, shall be fined not less than fifty nor more than one thousand dol- lars, to bo recovered by an action in tho name of the state, and on collection paid into tho state treasury ; Provided, that buildiug and loan associations organized in other states, having heretofore transacted business in this state, which shall not have complied with tho provisions of this act, shall have the right to close up their business, and fulfil their contracts, heretofore entered into with citizens of this state, through their duly authorized agents, without being subject to the penalties prescribed by this act. Sec. 25. Every president, director, trustee, member of any committee, secretary, treasurer, attorney or auy other officer at any time created, or agent of any such corporation, who embezzles, abstracts or wilfully misapplies any of the moneys, funds or credits of such corporation, or who issues or puts into circulation any warrant or other order, or who assigns, transfers, cancels or delivers up any note, bond, draft, mortgage, j udgment, decree, or any other written instrument belonging to such corporation, or raises money otherwise, or receives money from any member or other x>erson for and in the name of such corporation, unless duly authorized by the board of directors of such corporation ; or who shall sign tho name of any person to any order or warrant for tho payment of money without proper power of attorney or written order from such person to whose order such warrant or order is made payable; or any member or members of the board of directors who shall vote to CHAPTER VI. GENERAL LEGISLATION — OKLAHOMA. 663 declare, or any financial or first secretary of such corporation who shall declare or advise the board of directors of such corporation, to declare a greater dividend than what has been actually earned by the corporation, for the purpose of deceiving the people or defrauding the members of such corporation ; or who certifies to or makes any false entry on any book, report, or statement of or to such corporation, with intent in either case to deceive, injure or defraud the corporation or any other com- pany, body politic or corporate, or any individual person, or to deceive any one appointed to examine the affairs of such corporation; and every person who with like intent aids or abets any president, secretary, treasurer, committee or other officer or person in any violation of this section shall be deemed guilty of a felony, and shall be imprisoned not less than ono year nor more than ten years, and shall be liable civilly to the party injured, to the extent of such damage thereby incurred, and suit may be brought against such person and the sureties on his bond given to such corporation for the faithful performance of his duty. Any officer whose duty it is, failing to make the reports required by this act, and any officer, employe", or other person, who solicits business for, aids or assists any building and loan associa- tion to do business contrary to the provisions of this act, or without having com- plied with its provisions, shall be guilty of a misdemeanor, and on conviction thereof shall be fined not moro than five hundred dollars, or imprisoned not more than six months, or both. Such fines, when collected, to be paid into the state treasury. Sec. 26. The inspector shall keep and preserve in permanent form a fall record of his proceedings, including a concise statement of each association examined, and he shall, annually, make a report to the legislature of the general conduct and condition of the building and loan associations doing business, in this state, with such sug- gestions as he may deem expedient. Such report shall also include the information contained in the statements required of the associations, and arranged in tabulated form. He shall also report the names and compensation of the clerks employed by him, the whole amount of the income, the source whence derived, and the expenses in detail, during the year ending on the thirty-first day of December. LAWS OF 1893. (Page 315.) Section 1. Building and loan associations shall be authorized to provide in their constitutions and bylaws for the timo and terms of the dissolution of such corpora- tions; also for the consolidation of two or more of such corporations into one, upon such terms and conditions as may be determined upon by their boards of directors; also, in the case of the dissolution of any such corporation, its board of directors may, by a majority vote, be authorized to sell and transfer its mortgage securities or other property, or both, to another corporation, person or persons, subject always to the vested and accrued rights of the mortgagors. OKLAHOMA. STATUTES OF 1893. Paragraph 1143. At any time when ten or moro persons may desire to form a, building and loan association under the provisions of this act, they shall make appli- cation to the secretary of the territory in the manner prescribed by section 1229 [1152], The said secretary is hereby fully empowered to grant charters to said associations, provided that no charter granted under or by virtue of the provisions of this act shall be for a longer period than twenty years. Par. 1144. The capital stock of any corporation created by virtue of this act shall at no time consist of more than two thousand five hundred shares, of two hun- dred dollars each, or five thousand shares of ono hundred dollars each, the instal- ments on which stock are to be paid at such time and place as the bylaws shall 664 REPORT OP THE COMMISSIONER OF LABOR. appoint, no periodical payment to be made exceeding two dollars on each share. Every share of stock shall bo subject to a lien for the payment of unpaid instal- ments and other charges incurred thereon, under the provisions of tho charter and bylaws, and the bylaws may prescribo the form and manner of enforcing such lion. New shares of stock may bo issued in lieu of tho shares withdrawn or forfeited. The stock may bo issued in ono or more successive series, iu such amount as tho board of directors or stockholders may determine, and any stockholder wishing to withdraw from tho said corporation shall have power to do so by giving thirty days notice of his or her intention to withdraw, when he or she shall bo entitled to receive the amount paid in by him or her, and such proportion of tho profits as the bylaws may deter- mine, less all fines and other charges: Provided, that at no timo shall more than one- half of tho funds in tho treasnry of the corporation be applicable to tho demands of withdrawing stockholders without the consent of the board of directors, and that no stockholder shall be entitled to withdraw whoso stock is held in pledge for secu- rity. Upon tho death of a stockholder, his or her legal representative shall be entitled to receivo the full amount paid in by him or her and legal interost thereon, first deducting all charges that may ba duo on the stock. No fines shall bo charged to a deceased member's account from or after his or her decease, unless the legal representatives of such decedent assume tho futuro payments of tho stock. Par., 1145. The number, titles, functions and compensation of tho officers of any corporation created by virtue of this act, their terms of office, the times of their election, as well as the qualifications of electors, and the votes and manner of voting, and tho periodical meetings of said corporation, and the manner and terms upon which loans shall be made and repaid shall be determined by tho bylaws. Par. 1146. The said officers shall hold stated meetings at which the money in the treasury, if equal to the amount of one share of stock in such corporation shall be offered, for loan in open meeting and tho stockholder who shall bid the highest premium for the preference or priority of loan shall be entitled to receive a loan of tho full amount for each share of stock held by such stockholder: Provided, that good and ample security shall bo given by tho borrower to secure tho repay- ment of tho loan. In case tho borrower shall neglect to offer security that is approved by the board of directors by snch timo as tho bylaws may prescribe, ho or she shall bo charged with ono months interost at the rate charged by the association on loans, and a fine not to exceed ono dollar per share, together with any expenses incurred, and the money shall bo resold at tho next stated meeting. In case of non- payment of instalments, or interest or premium by borrowing stockholder, for the space of six month's, payment of principal and interest, without deducting tho premium paid or interest thereon, may be enforced by proceeding on their securities according to law. Par. 1147. A borrower may repay a loan at any time by the payment to tho cor- poration of tho principal sum borrowed, together with interest, not to exceed twelve per cent per annum, together with such per cent of premium per annum as may have been bid for the preferences or priority of such loan and any fines or charges that may be imposed upon such stockholder at tho time of such repayment ; or in case tho amount of premium bid for tho priority of such loan be deducted in advance, and the repayment thereof is made before tho expiration of the eighth year after the organization of tho corporation, there shall be refunded to such borrower one-eighth of the premium paid for every yoar of the said eight years unexpired ; Provided: that when tho stock is issued in separato series, tho time shall be computed from the date of the issuing of tho shares of stock on which tho loan was made: Provided further, that when tho series of stock has a less period than eight years to comploto full pay- ment thereof, there shall be refunded only pro rata for the unexpired term of the series: And, provided further, when the bylaws of .the corporation prescribe a differ- ent manner and terms upon which a loan may be repaid, then the repayment can only bo made in accordance with the bylaws of such corporation. CHAPTER VI. GENERAL LEGISLATION — OKLAHOMA. 665 Par. 1148. No premiums, fines or interest on such premiums that may accrue to the said corporation according to tlie provisions of this act shall he deemed usurious ; and the somo [same] may he collected as dehts of like amount are now hy law col- lected in this territory. Par. 1149. No corporation created under this act shall cease or expire from neglect on tlio part of the corporation to elect officers at the time mentioned in their charter or bylaws, and all officers elected hy such corporation shall hold their offices until their successors are duly elected and qualified. Par. 1150. Any building or loan association incorporated by or under tho provis- ions of this act, or any one heretofore or hereafter incorporated, accepting of the provisions of the same, is hereby authorized and empowered to purchase at tho sher- iff's or other judicial sale, or at any other sale, public or private, any real estate upon which such association may havo or hold any mortgage, judgment, lien or other incumbrance, or in which said association may have an interest, and the real estate so purchased, or any other that such association may hold or be entitled to at tho passage of this act to sell, convey, lease or mortgage at pleasure to any person or persons whatsoever, and all sales of real estato heretofore made by such associa- tion to any person or persons not members of the association so selling arc hereby confirmed and made valid. Par. 1151. All mortgages heretofore given to the building and loan associations organized under the laws of this territory before the passage of this act or subse- ' queut hereto, but such associations subsequently accopting tho provisions hereof, be and the sarno are hereby declared good and valid to all intents and purposes, as though they had been made to corporations organized under the provisions of this act. Pak. 1152. Tho charter of an intended corporation under tho provisions of this adt must be subscribed by ton or more persons, a majority of whom must be citizens of this territory, and sot forth : 1. The name of tho corporation. 2. Tho purpose for which it is formed. 3. The place where its principal office, or the business is to be transacted. 4. Tho time for which it is to exist. 5. The names and residences of the subscribers, and the number of shares sub- scribed by each. 6. Tho number of its directors, and the names and residences of thoso who are selected as directors, and who shall hold their office until the next annual election, or until their successors are elected and qualified. 7. The amount of its capital stock, and the number and par value of its shares. Par. 1153. Notice of the intention to apply for any such charter shall be inserted in two newspapers of general circulation printed in the proper county for three weeks, setting forth briefly the character and object of the corporation to be formed, and the intention to make application therefor. Tho certificate for a corporation under the provisions of this act, shall set forth all that is hereinbeforo required to bo set forth, the same shall bo acknowledged by at least five of the subscribers thereto before a notary public or other officer authorized to administer oaths, and they shall also mak'e and subscribe an oath or affirmation before him, to be indorsed on said certificate that the statements contained therein are true. Tho said certifi- cate, accompanied with proof of publication of tho notice as hereinbefore provided, shall then he produced to the secretary of the territory, who shall examine the same and if he find it to he in proper form, as specified in the foregoing sections, he shall approve thereof, and indorse his approval thereon, and issue letters patent in the usual form incorporating the subscribers and their associates and successors into a body politic and corporate in deed and in law, by the manner chosen; and the said certificate shall be recorded in the office of tho secretary of the territory, in a book to be by him kept for that purpose, aud a certified copy of the said certificate shall 666 REPORT OF THE COMMISSIONER OF LABOR. be recorded in the offico of the register of deeds of the county where the principal business of the association is transacted. Certified copies of the records thereof shall he competent evidence for all purposes in the several courts of this territory. Pah. 115-t. The bylaws of every corporation created under the provisions of this act or of thoso accepting the provisions of the same, shall be deemed and taken as its law, subordinate to this statute. They shall be made by tho stockholders or the board of directors, at their annual meeting or at any stated meeting of tho board of directors. They shall prescribe tho tiino and place of meeting of the corporation, the power and duty of its officers, tho fines and penalties to be imposed upon delin- quents and borrowers for the non-payment of dues, interest and premiums, and such other matters as may be pertinent and necessary for tho business to bo transacted. Par. 1155. Tho business of every corporation created hereunder, or of those accepting the provisions of the same, shall be managed and conducted by a presi- dent, a board of directors or trustees, a secretary and treasurer, and such other offi- cers or agents as the bylaws may provide. The directors or trustees shall be elected annually by the stockholders or members, at the time fixed by the bylaws, and shall hold their offico until others are chosen and qualified in their stead; the manner of such choico, and of tho choice or appointment of all other agents or officers, shall be prescribed by tho bylaws. The number of directors or trustcej shall not be leas than five, one of whom shall be chosen president by tho directors, or by the mem- bers of tho corporation, as the bylaws may direct; the members of said corporation may, at a meeting called for that purpose, determine, fix or change tho number of directors or trustees that shall thereafter govern its officers, and a majority of the whole number of such directors or trustees shall be necessary to constitute a quorum. The treasurer shall give bond in such sum, and with such sureties as shall be required by the bylaws, for the faithful discharge of his duties, and he shall keep the moneys of the corporation in a separate bank account, to bis credit as treasurer, and if he shall neglect or refuse so to do, ho shall be liable to a penalty of fifty dol- ■ lars for every day bo should fail so to do, to be recovered at the suit of any informer in an action of debt. Par. 1156. The directors of such corporation shall procure certificates of evidence of stock, and shall deliver them signed by the president and secretary and sealed with tho common seal of the corporation to each person or party entitled to receive the same according to tho number of shares by him, her or them respectively held, which certificate or evidence of stock shall be transferable at the pleasure of the holder in person or by attorney duly authorized as the bylaws may prescribe, sub- ject, however to all payments due or to become due thereon, and the assignee or party to whom the same shall have been so transferred shall be a member of said corporation, and have and enjoy all the immunities, privileges and franchises, and bo subject to all th[e] liabilities, conditions and penalties incident thereto, in the same manner as the original subscriber or holder would have been, but no certificate shall be transferred so long as the holder is indebted 'to said company, unless the board of directors shall consent thereto. Par. 1157. No person acting as judge or officer for holding an election for aDy such corporation shall enter upon the duties of his appointment until he take and sub- scribe an oath or affirmation before a notary public or other person qualified by law to administer oaths, that ho will discharge tho duties of his office with fidelity, that ho will not receive any rate but such as he really believes to bo legal, and if any such judgo or officer shall knowingly or wilfully violate his oath or affirmation he shall bo subject to all the penalties imposed by law upon the officers of the general election of this territory for violating their duties, and shall be proceeded against in liko manner and with like effect. Par. 1158. In case of tho death, removal or resignation of the president, or any of the directors) secretary, treasurer or other officer of such company, the remaining directors may supply tho -vacancy thus created until the next general election. CHAPTER VI. GENERAL LEGISLATION — OREGON. 667 Par. 1159. It shall be lawful for any building and loan association now incor- porated under the general laws of this territory and accepting the provisions of this act. or that may hereafter be incorporated, in addition to dues and interest to charge and receive the premiums or bonus bid by a stockholder for preference or priority of right to a loan in periodical instalments, and such premium or bonus so paid in instalments shall not be deemed usurious but shall be taken to be a payment as it fall due, in contradiction [contradistinction] to a premium charged and paid in advance, in so far as said premium or bonus so charged and paid, in addition to dues and interest, shall be in excess of two dollars for each periodical payment, the same shall be lawful, any law, usage or custom to the contrary notwithstanding : rrovided, that tho certificate of incorporation of each association hereafter to be incorporated, and the certificate provided in section 1238 [1161], for those heretofore incorporated, shall set forth whether the premium or bonus bid for the prior rights to a loan shall be deducted therefrom in advance or paid in periodical instalments. Pak. 1160. The bylaws of such association may provide for the voluntary with- drawal and cancellation at or before maturity of shares of stock not borrowed on : Provided, that such withdrawal and cancellation shall be pro rata among tho shares of tho same series of stock : And provided further, that not less than twelve per cent per annum shall bo credited and allowed to each share so withdrawn and cancelled. Pak. 1161. Any building and loan association heretofore or hereafter incorporated under the provisions of any law of the territory shall be entitled to all the privileges and immunities, franchises and powers, conferred by this article upon filing with the secretary of the territory a certificate to be by him recorded as provided iu section 1230 [1153] of their acceptance of tho same, in writing under the duly authenticated seal of the said association, which certificate shall also prescribe their mode or plan of charging premiums or bonus for priority of loan as set forth in section 1236 [1159], and upon such acceptance and approval thereof by the secretary of the territory he shall issue his certificate to said corporation reciting the same. Par. 1162. Any company heretofore incorporated under any general law of this territory, or by virtue of any special charter heretofore granted by the legislature thereof, incorporating any company for the purpose of doing a banking, loan or other business provided for in chapter 18 [chapter 17] ; or any building oi loan association heretoforo incorporated, andhaving accepted the provisions of article 16 [article 17] of said chapter, as therein provided, shall be entitled to all the privileges, immuni tics, franchises and powers mentioned in said chapter 18 [chapter 17], and the privi- leges, immunities and powers recited in said article 16 [article 17], upon filing with the secretary of the territory a certificate to be by him recorded, which certificate shall bo under the duly authenticated seal of such corporation, and shall set forth such corporation's acceptance of the provisions of section 957 [932] . Par. 1163. Upon the acceptance and approval of said certificate, by the secretary of tho territory, such corporation shall thenceforth be entitled to all the privileges, immunities, franchises and powers conferred by section 957 [932], in the same man- ner as ifjneorporated under the provisions thereof. Pak. 1164. And it is further provided, that all the acts of such incorporations pre- viously done under and by virtue of their then existing charters shall be and are hereby ratified and made legal. OREGON. LAWS OF 1891. (Page 131.) Section 1. It shall be lawful for cooperative corporations, engaged in the business of loaning their own money only to their own stockholders and only in proportion to the amount of stock held by such stockholders in case there are two or more 668 REPORT OF THE COMMISSIONER OF LAUOR. applicants for the money offered for loan, to make the loan to such stockholder or stockholders as shall offer the highest premium of any nature for such loan, and the giving and receiving of such premium shall not be regarded as contrary to the laws of tho state in regard to the rate of interest on money, but only the means of determining which of two or more stockholders, equally entitled to such loan, shall receive the same. PENNSYLVANIA. BRIGHTLY'S PURDON'S DIGEST OF 1883. (Pages 223-227.) Sectiox 1. Building and loan associations incorporated under the provisions of this act, shall have the powers, and from the date of the letters patent creating the same, when not otherwise provided in this act, he governed, managed and controlled as follows : Sec. 2. I. They shall have the power and franchise of loaning or advancing to the stockholders thereof the moneys accumulated, from time to time, and the power and right to secure the repayment of such moneys, and the performance of tho other conditions upon which the loans are to he made, by bond and mortgage or other security, as well as tho power and right to purchase or erect houses, and to sell, con- vey, lease or mortgage tho sanio at pleasure to their stockholders, or others for the benefit of their stockholders, in such manner also that the premiums taken by the said associations, for the preference or priority of such loans, shall not 1 o deemed usurious; and so also that in case of non-payment of instalments, premiums or interest by borrowing stockholders, for six months, payment of principal, premiums and interest, without deducting the premium paid, or interest thereon, may be enforced by proceeding on their securities according to law. Sec. 3. II. Tho capital stock of any corporation created for such purpose-*, by virtue of this act shall at no timo consist in the aggregate of more than one million dollars, to be divided into shares of such denomination, not exceeding five hundred dollars each, and in such number as the corporators may, in the application for their charter, specify : Provided, that the capital stock may be issued in series, but no such series shall at any issue exceed in tho aggregate five hundred thousand dollars, the instalments on which stock are to bo paid at such time and place as the bylaws shall appoint; no periodical payment of such instalments to be mado exceeding two dollars on each share, and said stock may be paid off and retired as the bylaws shall direct; every share of stock shall be subject to alien for the payment of unpaid instalments and other charges incurred thereon under tho provisions of the charter and bylaws, and the bylaws may prescribo tho form and manner of enforcing such lien ; new shares of stock may bo issued in lieu of the shares withdrawn or forfeited; the stock may be issued in one or in successive series, in such amount as the board of directors or tho stockholders may determine; and any stockholder wishing 1 to with- draw from tho said corporation, shall have power to do so, by giving thirty days' notice of his or her intention to withdraw, when he or she shall be entitled to receive tho amount paid in by him or her, less all fines and other charges; but after the expiration of ono year from tho issuing of the series, such stockholder shall be entitled, in addition thereto, to legal interest thereon : Provided, that at no timo shall more than one-half of the funds in the treasury of the corporation be appli- cable to tho demands of withdrawing stockholders, without the consent of the board of directors, and that no stockholder shall bo entitled to withdraw, whose stock is held in pledge for security. Upon tho death of a stockholder, his or her legal repre- sentatives shall bo entitled to roceivo the full amount paid in by him or her, and legal interest thereon, first deducting all charges that may be duo on the stock; no fines shall be charged to a deceased membor's account, from and after his or her CHAPTER VI. — GENERAL LEGISLATIONS-PENNSYLVANIA. 669 decease, unless Ms legal representatives of such decedent assume the future pay- ments on tho stock. Sec. 4. III. The number, titles, functions and compensation of the officers of any- such corporation, their terms of office, tho times of their elections, as well as the qualifications of olectors, and the ratio and manner of voting, and the periodical meetings of tho said corporation, shall be determined by the bylaws, -when not pro- vided by this act. Sec. 5. IV. The said officers shall hold stated meetings, at -which the money in tho treasury, if over the amount fixed by charter as the full value of a share, shall be offered for loan, in open meeting, and tho stockholder who shall bid tho highest premium for tho preference or priority of loan, shall bo entitled to receive a loan of not more than tho amount fixed by charter as tho full value of a share, for each share of stock hold by such stockholder : Provided, that a stockholder may borrow such fractional part of the amount fixed by cnarter as the full value of a share, as the bylaws may provide; good and ample security, as prescribed by the bylaws of the corporation, shall be given by tho borrower, to securo tho repayment of tho loan; in case the borrower shall neglect to offer security, or shall offer security that is not approved by the board of directors, by such time as tho bylaws may prescribe, he or sho shall be charged with legal interest, together with any expenses incurred, and tho loss in premium, if any, on a resale, and tho money may be resold at tho next stated mooting ; in case of non-payment of instalments or interest by borrowing, stockholders, for tho space of six months, payment of principal and interest, with- out deducting tho premium paid or interest thereon, may be enforced, by proceed- ing on their securities according to law. Sec. 6. VI. No premiums, fines, or interest on such premiums, that may accrue to the said corporation, according to tho provisions of this act, shall bo deemed usurious ; and the samo may be collected as debts of like amount are now by law collected in this commonwealth. Sec. 7. VII. No corporation or association created under this act shall cease or expire, from neglect on tho part of tho corporators to elect officers at tho timo men- tioned in their charter or bylaws; and all officers elected by such corporation shall hold their offices until their successors are duly elected. Sec. 8. VIII. Any loan or building association incorporated by or under this act, is hereby authorized and empowered to purchase, at any sheriff's or other judicial sale, or at any otBfer sale, public or private, any real estate, upon which such associa- tion may have or hold any mortgage, judgment, lien or other incumbrance, or ground rent, or in which said association may have an interest, and tho real estate so pur- chased, or any other that such association may hold or bo entitled to at the passage of this act, to sell, convey, lease or mortgage, at pleasure to any person or persons whatsoever; and all sales of real estate heretofore made by such associations to any person or persons not members of tho association so selling, are hereby confirmed and mado valid. Sec. 9. IX. All such corporations shall have full power to purchase lands and to sell and convey the samo, or any part thereof, to their stockholders or others in fee simple, with or without the reservation of ground rents, but tho quantity of land purchased by any one of said associations hereafter incorporated, shall not, in the whole, exceed fifty acres ; and in all cases tho lands shall bo disposed of within ten years from the dato of the incorporation of such associations respectively. Sec. 10. X. All land and building associations are hereby authorized to make sale of, and assign or extinguish, to any person or persons, the ground rents created as aforesaid. Sec. 11. It shall be lawful for any mutual savings fund, or building and loan association, now incorporated or hereafter to bo incorporated, in addition to dues and interest, to charge and receive the premium or bonus bid by a stockholder for preference or priority of right to a loan, in periodical instalments : and such pre- 670 REPORT OF THE COMMISSIONER OP LABOR. mium or bonus so paid in instalments shall not bo deemed usurious, but shall be taken to be a payment as it falls duo, in contradistinction to a premium charged • and paid in advance ; and in so far as said premium or bonus so charged and paid, in addition to dues and interest, shall be in excess of two dollars for each periodical payment, the same shall be lawful, any law, usage or custom to the contrary not- withstanding. It shall also be lawful for any mutual savings fund or building and loan association to charge and deduct interest in advance, in lieu of premiums for preference or priority of right to a loan : Provided, that the certificate of incorpora- tion of each association hereafter to be incorporated, and the certificate provided in section nine of this act for those heretofore incorporated, shall sot forth whether the premium or bonus bid for the prior right to a loan shall bo deducted therefrom in advaneo or paid in periodical instalments, or whether interest in advance shall be deducted from the loan in lieu of premium or bonus. Sec. 12. Stockholders withdrawing voluntarily, shall receive such proportion of the profits of the association, or such rate of interest as may be prescribed by the bylaws, any law or usage to the contrary notwithstanding; but payment of the value of stock so withdrawn, shall only be due when the funds now by law appli- cable to the demand of withdrawing stockholders are sufficient to meet and liqui- date the same, and then only in the order of the respective times of presentation of the notices of such withdrawals, which must have been presented in writing at a previous stated meeting, and have been then and there indorsed as to times of pre- sentation, by the officer designated by the bylaws of the association. Sec. 13. The bylaws may provide for the involuntary withdrawal and cancellation at or before maturity of shares of stock not borrowed on: Provided, that such with- drawal and cancellation shall be pro rata among the shares of the same series of stock: And provided further, that not less than legal interest shall be credited and allowed to each share so withdrawn and cancelled. Sue. 14. A borrower may repay a loan at any time, and in case of the repayment thereof before the maturity of the shares pledged for said loan, there shall be refunded to such borrower (if the premiums, bonus or interest shall have been deducted in advance) such proportions of the premiums, bonus or advance interest bid, as the bylaws may determine: Provided, that in no case Bhall the association retain moro than one one-hundredth of said premiums or bonus for each calendar month that has expired since tho date of tho meeting upon which the loan was made, or if interest in advance, it shall retain only the interest due on tWo loan up to the time of settlement : And further provided, that such borrower shall receive the with- drawing value of the shares pledged for said loan, and the shares shall revert back to tho association. Sec. 15. In case of non-payment of instalments of stock, premiums, dues or inter- est, by borrowing stockholders, for the space of six months, payment of the same, together with the full principal of the loan, may bo enforced by proceeding on their securities, according to law; and the moneys so recovered shall bo paid into the treasury of tho association for such uses (loans or otherwise) as may be deemed proper by the association; and if the said moneys so recovered, together with the withdrawal value of the shares of such defaulting borrower, shall exceed the amount it would have required, according to the preceding section, to have voluntarily repaid tho loan, together with all the expenses incurred by the association, such excess shall bo repaid to snch defaulting borrower. Sec. 16. Finos or penalties for the non-payment of instalments of dues, interest, and bonus or premium, shall not exceed two per centum per month on all arrear- ages. Sec. 17. It shall be lawful for any married woman of full age to hold stock in any of said saving funds, building or loan associations; and as such stockholder, she shall have all the rights and privileges of other members, including the right to borrow money from said associations and bid premiums therefor, and shall also CHAPTER VI. GENERAL LEGISLATION PENNSYLVANIA. 671 have the right and power to secure such loan by transferring her said stock or other securities to said association from which the same was borrowed, or by executing bond and mortgage upon her separate real estate to secure said loan: Provided, however, that tho husband of such married woman join in the execution of such bond aud mortgage; and such married woman shall also have the right to sell, assign and transfer her said stock, or withdraw the same, without joining the husband in such transfer or withdrawal; and it shall be lawful for any such savings fund, building or loan association to collect such loan made to such married woman, including the dues, interest, premium and fines, as loans made by such associations toother members are now by law collected; and such stock, or iuterest in such stock, shall not be liable for tho debts of any husband of such married woman. Sec. 18. Tho bonus or tax duo to the commonwealth upon the capital stock of corporations, as provided for by act of first of May 1868, or by any other act, shall not apply to or bo due from mutual savings fund, or building and loan associations; nor shall the registry for corporations, prescribed by tho first section of tho act of first of May 1888, tho first section of the act of 24th of April 1874, and the 26th section of tho act of 29th of April 1874, apply to or be required of mutual savings fund, or building and loan associations. Sec. 19. Mutual savings fund, or building and loan associations, heretofore incor- porated under the provisions of any law, shall bo entitled to all the privileges, immunities, franchises and powers conferred by this act, upon filing with tho sec- retary of tho commonwealth a certificate of their acceptance of the same in writing, under the duly authenticated seal of said association, which certificate shall also prescribe their mode or plan of charging premiums, bonus or advanco interest, as set forth in tho first section of this act; and upon such acceptance and approval thereof by the governor, he shall issuo letters patent to said corporation, reciting tho same. Sec. 20. All deeds of conveyance of lands situate within this commonwealth, made by any savings fund, building, or loan association, after the term for which it was incorporated shall have expired, shall be as good and effectual, and have the same force and effect forpassing title to the lands so conveyed, as though executed during tho period of its chartered existence. Sec. 21. All purchases of land heretofore mado by building and loan associations, incorporated by virtue of any law of this commonwealth, and also all sales of the same, mado by them, to their stockholders or others, are hereby confirmed; and the titles of said associations and their vendees are hereby declared good and valid, to all intents and purposes; aud tho said associations, their successors or assigns, may sell, convey or lease, at pleasure, at any timo within five years from tho passage of this act, the undisposed of portions of the real cstato so hereto purchased. Sec. 22. Mutual loan and building associations shall be exempt from the provi- sions of each and every law imposing taxes for state purposes on their capital stock or mortgages, and other securities for moneys loaned to their own members ; but the real estate owned by said association shall bo subject to the same rates of taxation as tho real estate of other corporations and persons : Provided, however, that the right of the commonwealth to collect taxes already accrued is hereby reserved. Sec. 23. On tho petition of any twelve or more citizens of Pennsylvania, the court of common pleas of tho county of Philadelphia shall have all powers conferred by the acts relating to loan and building associations, to incorporate them and their associates as apcrpetual corporation, for the purposes following, to wit : to purchase, hold and build upon and sell in fee simple, houses and lots in the city of Philadel- phia, and also to mako loans on bonds and mortgages to others to build and improve, and tho same to sell and assign, and to borrow moneys upon bonds and mortgages or otherwise for said purposes.; and in making sales or leases, or loans on mortgages, it shall bo lawful for such corporation, and borrowers of them, to agree upon, and insert in the deeds of conveyance, a condition against the use-oi auy granted or 672 REPORT OF THE COMMISSIONER OF LABOR. leased premises for the sale of any intoxicating liquors, or unlawful immoral pur- poses, the carrying on any noxious or unhealthful business, with right of reentry for breach of such condition: Provided, that no corporation chartered under this act, shall have a greater capital than one-half million of dollars, unit shall stipulate by their articles to devote their capital to improve cr promote the improvement of parts of said city most needing physical, healthful and moral reform, which shall bo defined and prescribed in the charter, and not exceed eight main squares, and shall apply all their profits, over their expenses, and a return of eight per centum per annum to tho shareholders, to and for the construction of substantial stone, or brick or iron habitations for homes for respectable persons of limited means, either as lessees or purchasers: And, provided, that tho said court shall be satisfied of the benevolent purposes of tho petitioners; and that the legislature may at any time repeal this act, and such charters, if the powers hereby granted should be found prejudicial to the community, but in manner to do no injustice to tho corporators. Sec. 24. All buildiug, saving and loan associations may bring and maintain suits, and carry on thoso already brought, in their corporate names, on all judgments, bonds, mortgages, notes or other evidences of debt or obligations due them, or for monthly dues, interest or any demand owing to them, and proceed to judgment and execution, notwithstanding their charter may have expired: and tho officers last elected, or tho survivors of them, shall bo tho officers to represent said corpora- tions for such purpose; and if no officers survive, the stockholders may elect others under their bylaws. Sec. 25. This act shall only be construed so as to enable said associations to col- lect up and divide their assets and wind up their affairs, and not to allow them to transact new business : Provided, that this act [sections 24 and 25] shall only apply to tho city of Philadelphia. '" (Page 594.) Sec. 145. In all cases, where payment has been made of all the money or amount duo or to becomo due in any mortgage, and tho legal holder or holders thereof have failed, from any cause whatever, to enter satisfaction upon tho record of the same, and shall so continue for six months, in such case, the mortgagor or mortgagors, his, her cr their legal representatives, or tho owner or owners of the mortgaged prem- ises, or any or either of them, may petition the court of common pleas where the mortgaged premises are situate, setting forth the premises; whereupon the said court shall direct the sheriff of said county to serve a notice, stating the facts set forth in tho petition, on tho legal representative or representatives, if to be found in tho county ; and in case tho parties can not bo found in tho said county, then the sheriff shall give public notice as aforesaid, in ono or moro newspapers published within or nearest to tho said county, once a week for four weeks successively, prior to tho then next term after tho petition has been presented, requiring the said par- ties to appear at tho next term and answer tho petition aforesaid ; at which term, or any subsequent term, the said court, on duo proof being made that tho full amount for which the said mortgage was given has been paid, are hereby authorized and required to decreo and direct that satisfaction Bhall be entered upon the record thereof, by the recorder of the proper county, in [on] payment of tho costs due rel- ative to tho entry of said mortgage, or auy proceedings thereon; which said satis- faction, so entered, shall forever thereafter discharge, defeat and release the same, and shall likewiso bar all actions brought or to be brought thereon, as fully and effectually, to all inteuts and purposes, as if the satisfaction had been entered by the legal holder or holders of tho said mortgage; but if either of the parties shall desire any matter of fact that is affirmed by one and denied by the other, to bo tried by a jury, an issue shall be formed, and the same shall be tried accordingly, and if the jury shall find that the full amount for which the said mortgage was given has been paid, then satisfaction shall bo entered on the record as aforesaid; and in all CHAPTER VI. — GENERAL LEGISLATION PENNSYLVANIA. 673 cases -where the legal holder or holders of such mortgage, at the time of such pay- ment, shall have heon a building and loan association, or other corporation, -whose existence in law has terminated or hecome doubtful, or whose affairs have been wound Up, the notice required by this act shall bo served on either the president or treasurer last in office in said association or corporation, if he is to be found in the county, .otherwise public notice shall be given in one or more newspapers within or nearest to the county, in the manner aforesaid. (Page 1613.) Sec. 189. * * * moneys loaned by building and loan associations shall be sub- ject to tax, the same as money loaned by individuals. BRIGHTLY'S PURDON'S DIGEST, SUPPLEMENT OF 1891. (Page 2447.) SECTION 1. In addition to thi corporate powers conferred on building and loan associations by the thirty-seventh section of tho act of twenty-ninth April, one thousand eight hundred and seventy-four [Brightly's Purdon's Digest of 1883, page 223], they shall have the right, when applications for loans by tho stockholders thereof shall exceed the accumulations in the treasury, to make temporary loans of such sum or sums of money to meet such demands, not exceeding in the aggregate of such loan at any time fifteen thousand dollars ($15,000), at a less rate of interest than six per centum, and secure the payment of the same by note, bond, or assign- ment of its judgments and mortgages as collateral; said loans to be repaid out of the accumulations in the treasury, as soon as sufficient is paid in and thero is no demand therefor by borrowing stockholders. LAWS OF 1893. Act No. 50. Section 1. Cooperative banking associations may be incorporated under this act upon compliance with the requirements of section eleven, article sixteen, state constitution, when ten or more persons of lawful age, citizens of this common- wealth, who shall have associated themselves together by written articles of asso- ciation for tho purpose of carrying on a cooperative banking business where the. profits derived from the business shall, after paying all legitimate expenses, bo divided pro rata among the depositors and borrowers of the bank in proportion to their deposits or loans to each class, one-half of the net profits; and a dividend not to exceed six per centum per annum on original subscribed stock may be considered legitimate expenses. Sec. 2. Such persons so associating may adopt any corporate name indicating their cooperative character and which has not been previously adopted by any other cor- poration formed uuder this act : Provided, the last three words of such name shall be Cooperative Banking Association, and it shall not bo lawful to use iu such name either of the words "society" or "company," and that any violation of this proviso- by any corporation formed under this act shall render each member thereof person- ally liable for all its debts. Before any company formed under this act shall commence its business its articles of association shall be filed and recorded in tho office of the secretary of the common- wealth and two copies of said articles shall be made which the said secretary of the commonwealth shall ccrtifyl>y his official signature and tho seal of this common- wealth as being correct copies of said articles so filed and recorded; one of said cer- tified copies shall be filed and recorded in the office of the clerk of the county in which the office of the association shall be located and the said clerk shall certify by his- H. Ex. 209 -43 674 REPORT OF THE COMMISSIONER OF LABOR. official signature and seal of his office that the said certified copy of said articles has been filed and recorded in his office and the other certified copy of said articles shall be held by the association named therein, and the said articles or copies thereof, duly certified by either of the aforesaid officers, may be used as evidence in all courts aud places of tho incorporation of as well as for or against such association, and the said secretary of the commonwealth and the said county clerk shall be paid, for said filing and recording and certifying at the rate of ten cents for each hundred words contained in said articles, and after such articles of association shall have been made, filed and recorded as herein required, the person signing the same and such other persons, partnerships or corporations who shall, from time to time, own or possess any share in the stock capital of such association, and their several successors and assigns, shall bo deemed and taken to be a body corporate and by the name and for the purposes mentioned in such articles of association. Sec. 3. The articles of association shall be signed by tho persons originally asso- ciating themselves together and shall be acknowledged by at least five of them before a notary public, and shall state distinctly (a) the name by which this association shall be known, (b) the place in this state where its principal office is to be located, (c) the purpose or object for which it is formed, (d) amount of its stock capital, (e) the amount of each share of stock of such capital, such shares not to exceed ten dol- lars per share, and how such share may he paid for, (f) the amount of capital that will be actually paid in before commencing business; also amount of preferred stock to be assigned to stockholders who may hereafter earn stock from custom divi- dends, (g) whether, and if so to what extent, loans or deposits of money are to be received for use in its business, (h) the terms upon which persons may beeome mem- bers, (i) on what days in January regular annual meetings of the memhers are to be held, (j) such other matters not repugnant to this act as may be deemed pTopcr and necessary, (k) the term of its existence not to exceed twenty years, and (1) names of the first associates, their respective residences and the number of shares held by each of them. No such association shall commence business until the financial standing, responsibility and character of the original stockholders shall have been approved and certified by the superintendent of the banking department of the com- monwealth. Sec. 4. The stock capital of any such association shall consist of the amounts standing to the credit of the members on account of the shares allotted to them, certificates of which shall be issued from time to time as shares shall be fully paid up or earned. Sec. 5. It shall be the duty of such company to exhibit in some conspicuous place in its principal office at all times a list of stockholders and the amount of stock held by each stockholder, the amount of stock subscribed or earned at the time of each last annual meeting ; also the amount of preferred stock which shall not be a liabil- ity stock only as it becomes assigned to individual stockholders. Sec. 6. It shall be tho duty of the auditors to audit all books, papers and vouchers of tho company annually, or at any time when called upon in writing so to do by the president or any ten of tho stockholders, or twenty of the depositors when joined by at least five of the stockholders, and each of these audits shall be ren- dered in writing which shall give a statement of the assets and liabilities of said company ; also a detailed statement of the character and nature of all the notes and securities held by the association, and such statement shall be posted conspicuously in the office. Sec. 7. No profits shall be paid out to any stockholder until the total registered amount of stock shall be fully paid in cash, or earned from the net profits of the company.. Sec. 8. It shall be lawful, if the bylaws so provide, for any minor to take and hold shares in, or to make loans or deposits of money to or with any such corpora- tion, and for such association to pay any minor any moneys that may be due to him CHAPTER VI. GENERAL LEGISLATION — PENNSYLVANIA. 675 in respoet of any shares, loans or deposits standing in his name, find his receipt therefor shall he in all respects valid in law, hut such minor shall not he -eligible to hold any office in such association though he may he suhject to its bylaws and vote at any meeting of its memhors. Sec. 9. Depositors and borrowers to whom dividends are due shall not withdraw the same, hut shall take fall paid stock in lieu thereof, until the registered and pre- ferred stock of the company becomes fully paid up, and as each share of stock becomes fully paid up this class of stockholders may become voting members, but each shareholder shall bo entitled to but one vote on each share of stock. The company shall be controlled by a board of six directors who shall serve for three years, two of which shall be elected annually, and provision shall be made at the first election to elect two to serve one year, two to serve two years, and two for three years. Said directors shall elect a president and secretary from their nnmber and said directors shall have full control of all employes and. business of the association, subject to bylaws, but no employd shall be a director. The bylaws shall provido rules and regulations for the loaning or discounting of tho capital and deposits of the association and the nature of its securities and no loan, shall bo made to any individual, firm or company, cither singly or collectively, in excess of ten per centum of the deposits of the association at tho time of making such loan, and any violation of this provision will render the person or cashier so making liable upon his bond and the directors sanctioning such a loan will render them individually liable, unless a protest be entered at the first monthly meeting subsequent to tho making of such loan. Two auditors shall bo elected annually by the stockholders from their number at their annual meeting iu January, aud one auditor shall be elected by the depositors from their number on first Monday of oach December, notice of which election shall he posted conspicuously in the bank room for at least three weeks prior to tho elec- tion of such auditor, all of which shall serve for onoyear. Sec. 10. The members shall be severally and jointly liable for all deposits, debts for labor, or service of any kind performed for such association, and for any other debts lawfully incurred under tho provisions of this act; each of the members shall be liable to twice the amount of his subscribed or earned stock capital, and no more, but no suit shall bo brought or any execution issued against any member individually until a judgment be first obtained for such deposits, labor, services, or other lawful debts against such association and execution thereon be returned unsatisfied, in whole or in part, and in case any member shall be compelled to pay any such judg- ment, or any part thereof, beyond his pro rata liability therefor, he shall have the right to call upon all the members to pay their pro rata share of the same, or np to their pro rata liability therefor, and may sue them jointly, or severally, or any member of them, and recover in such action the ratable amount due from the mem- ber or members so sued. Sec. 11. Any such association may take, hold, lease and convey such real estate as may be necessary for the purpose of its organization, and may sue and be sued in its corporate name, and may submit any matter in dispute to arbitration, and shall Lave a common seal, which shall not be altered or imitated, and shall bear the cor- porate name of, together with such device or motto as may be adopted by such association, and such seal shall be impressed upon the articles of association. Sec. 12. Any person appointed to any position in any such association requiring tho receipt, payment, management, or use of money belonging to such association, shall, before entering upon the discharge of his duties, become bound with two or more good and sufficient sureties, or insurance bonds, in such sum and form as the directors shall require and approve; and the directors may also require from any other employe's of such association, bonds with good and sufficient sureties for the faithful discharge of duties. Sec. 13. The first meeting of any such association may "bo called by a uotico signed 676 REPORT OF THE COMMISSIONER OF LABOR. by any two of tlio associates 'who signed its articles of association, setting forth the time and placo and objects of such meetings, such notice to be mailed to the address of each associate, at least four days clear prior to such meeting, and a majority of such associates at such meeting shall he competent to make all such by] aws as they may deem necessary for the proper management of the association, so that any such bylaws are not repugnant to or inconsistent with the provisions of this act, or any law of the state or United States, and to elect such officers as are heretofore provided by this act, and such officers shall hold office until their successors shall have beeu elected and installed. Sec. 14. Any association may alter or amend its articles of association and may alter or rescind any bylaws, or make any additional bylaws with the consent of the majority of its members present at a special meeting convened for such purpose, but the notice calling such meeting shall set forth fully and clearly tho proposed altera- tions, amendment, rescission or addition; and any alteration or amendment of tho articles of association shall bo approved, filed, recorded and certified in the same manner as the original articles of association. RHODE ISLAND. The laws of this state contain no general legislation relating especially to building and loan associations. SOUTH CAROLINA. ACTS OF 1886. [Note. — Building and loau associations are governed by the general incorporation law (act No. 288, acts of 1886). Tho sections of said-law in which building and loan associations are specifically mentioned aro given below.] Act No. 288. Section 5, (as amended by act No. 439, acts of 1890). Upon the completion of the organization of tho company, and the payment to the treasurer of the company, or some officer designated for that purpose, in cash, of at least twenty per cent of the capital subscribed, payable in money, and tho payment of the remainder of the capi- tal stock so subscribed for payable in money being secured, to be paid in such instal- ments and at such times as may be provided in the written declaration required by section 1, and also tho delivery to such officer or officers at least twenty per cent of tho property so subscribed to the capital stock, with security for tho deli very of the remainder of said property so subscribed to the capital as may bo promisod in said declaration required by section 1, tho board of corporators shall, in writing, over their signatures, certify tho same to tho socretary of state, who shall issue to the company a certificate that they hive bean fully organized according to the laws of 'South Carolina, under tho namo and for the purpose indicated in their written declaration, and that they aro fully authorized to commence business under their charter, a copy of which certificate shall be recorded in the office of tho register of mesne conveyance for each county where such company shall have a business office: Provided, that in cases of building and loan associations and other like corpora- tions, when by tho terms of the declaration the capital stock is to be paid in in instalments, the certificate herein provided for may bo issued when 50 per cent of tho first instalment of such capital stock shall have been paid in and the provisions of this act in other respects compliod with, and the certificate so issued may make such provisions for the winding up of such corporation as is embodied in such written declaration. Sec. 14, (as amended by act No. 17, acts of 1888). The corporation shall have a lien upon tho stock of each shareholder for all amounts which may bo duo upon his CHAPTER VI. GENERAL LEGISLATION — SOUTH DAKOTA. 677 subscription for stock, and in case of failure by him to pay within thirty days after the timo appointed any instalment required to he paid by the terms of the sub- scription, such corporation, after thirty days' personal notice, or, if that can not be given, notice by mail, addressed to the place of residence of the subscriber, if known, and by advertisement by publication in the public newspaper published nearest to tho place of business of such corporation once a week for four successive weeks, may, at its option, consolidate into as many par shares as the money paid by such defaulting subscriber will amount to, and issue to such stockholder a certificate therefpr, and declare tho fraction of a share remaining unpaid forfeited to the cor- poration, or may proceed to collect what may remain unpaid of the original sub- scription by suit; but if such subscriber be dead at the timo of tho default, such forfeiture shall not be declared till after the expiration of the timo when the repre- sentative is exempt from suit. If such subscription for stock bo declared forfeited, such corporation may proceed and sell tho forfeited share, and the shares subscribed but not paid for by such defaulting subscriber, at public or private sale, and the purchaser shall become tho owner thereof, subject to tho terms of the original sub- scription. No stock shall be issued by any company incorporated under the provis- ions of this act until fully paid according to the terms of tho subscription, except in cases of building and loan associations and other corporations, when by the terms of the charter the capital stock is to be paid in instalments, and no trans- fers of stock shall be valid, except as between the parties thereto, until the same shall have been regularly entered upon the books of tho company, so as to show the name of the person by whom and to whom the transfer is made, the number and other designation of the shares and the date of the transfer. Sec. 34, (as amended by act No. 17, acts of 1888). The following acts and sections, and all acts and parts of acts amendatory thereof, be, and the same are hereby, repealed : * * * an act to provido for and regulate the incorporation of build, ing and loan associations in this state, approved tho 22d day of December, 1885 : Provided, the provisions of this act shall not affect the corporate existence of any corporation heretofore formed under any general or special law; but all such corpo- rations shall be subject to all the provisions of this act that are made applicable thereto. SOUTH DAKOTA. LAWS OF 1891. Chapter 39. Section 1. Any building and loan association incorporated or to be incorporated under and by virtue of the laws of the state of South Dakota may permit parents and guardians to take aud hold shares in such association in behalf and for the use of their minor children or wards, providing the costs of such shares be defrayed by such parent, guardian, child or ward in such manner as the costs in other shares are defrayed. Sec. 2. Minors who have no guardians and who support themselves by their own exertions, who make their own contracts and transact their own business may take and hold shares so long as they comply with the bylaws of said corporation, and may withdraw said stock at any time as otherwise provided and may demand the redemption of their certificates of stock ai> their maturity. LAWS OF 1893. Chapter 40. Section 1. Any nine or more persons being of full age, two-thirds of whom shall be citizens of this state, may form an association as provided in this act. All asso- ciations formed under tho provisions hereof or that may hereafter comply with the 678 REPORT OF THE COMMISSIONER OF LABOR. same, as hereinafter provided, shall be known as cooperative building and loan asso- ciations, and the name of every such association shall contain as a part thereof either the words "building and loan association," "savings and loan association," or " savings association." Sec. 2. The object and purposes of such associations shall be to encourage industry, frugality, home building and savings among their members ; the accumulation of savings and the loan of such accumulations to their members, the purchase of real estate, the erection of buildings and the making of improvements thereon and on the lands of their members, and removing incumbrances therefrom, and the accumulation of a fund to be returned to such of their members as do not obtain loans, when they have accumulated a certain sum, or at any time when such members shall desire the same 01 the association shall desire to repay the same, and such association shall have power to accomplish said purposes. Sec. 3. Such associations shall become incorporated by the said nine ot more per- sons making, signing and acknowledging in the manner and form prescribed for the acknowledgment of deeds in this state, a certificate wherein shall be stated the name of said association, that the association is formed under and for the purpose pre- scribed in this act, the location within this state of its principal office or place of business, the amount of its authorized capital stock, the limit of the number of its shares, and the time for which it is to exist, the names and residences of the sub- scribers and the number of shares of its capital stock subscribed by each, the num- ber of its directors and the names and residences of those who are selected as directors who shall hold their office until the next annual election or until their successors are elected and qualified. Said certificate shall be filed and recorded in the office of the secretary of state, and upon such certificate being so filed the secre- tary of state shall issue letters patent in the usual form incorporating the subscribers into a body corporate by the name chosen, which letters patent shall be recorded in the office of the register of deeds of the county where said association is located. Sec. 4. The officers of the association shall consist of a board of directors or trus- tees of not less than five (5) nor more than thirteen (13), who shall be members of the association, and such board shall elect a president, vice-president, secretary and treasurer and such other officers as may be authorized by the bylaws. The duties and compensation of the officers, their terms of office, the time and manner of their election, and the time of regular meetings of the officers and shareholders, shall be determined by the bylaws, except that the board of directors may determine each year the compensation of the treasurer and secretary. Special meetings of the offi- cers and shareholders may be called and held as provided by the bylaws. Each shareholder, not in arrears for dues, shall be entitled to one vote at all meetings of the shareholders for each share of stock owned by h i m or held by him as trustee. All officers shall hold office until their successors are duly elected and assume the duties of their office. No association shall expire from neglect on its part to elect officers at the time prescribed by the bylaws. Sec. 5. The authorized capital stock of such association shall be divided into such number of shares of such par value as shall be provided for by the articles of asso- ciation or the bylaws, and shall be paid in at such times, amounts, and at such places as the bylaws shall provide. Every share of stock issued by such associa- tion shall bo subject to a lien for the payment of unpaid instalments, fines, taxes and other charges incurred thereon under the provisions of the articles of associa- tion and bylaws, and the bylaws may prescribe the form and manner of enforcing such lien. New shares of stock may be issued in lieu of shares withdrawn or for- feited. The stock may be issued in one or more successive series in such amounts as the board of directors or stockholders may determine, and any stockholder wishing to withdraw the amount paid in by him to such association shall have the right to do so by giving thirty (30) days notice of his intention to so withdraw, when such stockholder shall be entitled to receive the amount paid in and such proportion, of CHAPTER VI, GENERAL LEGISLATION — SOUTH DAKOTA. 679 the profits as the bylaws may determine, less all fines and other charges: Trovided, that at no time shall more than one-half of the funds in the treasury of the associa- tion he applicable to the demands of withdrawing stockholders without the consent of the board of directors, and also that no stockholder shall bo entitled to withdraw whoso stock is held as security for a loan. Upon the death of a stockholder, his legal representatives shal'l bo entitled to receive the full amount paid on his stock and legal interest thereon, after deducting all charges against said stock. No fines shall be charged to a deceased member's account from and after his decease, unless tho legal representatives of such member assume the future payments on the stock. The authorized capital stock of such association maybe increased by a two-thirds vote of tho board of directors, a certified copy of a resolution of the board of direc- tors authorizing such increase being filed with the secretary of state. Sec. 6. The officers of the association shall hold stated meetings at which the moneys in the treasury shall be offered for loan in open meeting, and the stockholder ■n ho shall bid the highest premium for the preference or priority right of loan shall bo entitled to receive a loau equal to the par value of the shares of stock held by him; Provided, that good and ample security shall be given by tho borrower to secure tho repayment of the loan. In case the borrower shall neglect to offer security that is approved by tho board of directors within such time as the bylaws prescribe, such member may be charged with one month's interest upon the amount of the loau so bid for, and a fine not to exceed one (1) dollar per share, together with any expense incurred, and the money shall be resold at the next regular meeting. Iu case of non-payment of any instalment of dues, interest, premiums, fines, insurance, taxes or other sums due from the'borrower to the association for the space of six (6) months after such delinquency occurs, the whole sum loaned, together with the unpaid premium bid therefor, and all interest, fines, insurance, taxes and dues on stock pledged for said loan, shall become due and payable and may be at once collected for the full period for which tho same were contracted to be paid. Sec. 7. Any borrower may voluntarily repay a loan at any time by the payment of the principal sum borrowed, together with the interest to the date of such repay- ment, and such per cent of premium per annum as may have been bid for the pref- erence or priority right to such loan, together with any fines or other charges that may bo due by such borrower at the time of the repayment, and in case the amount of premium bid for the priority right to such loan bo deducted in advance, and the repayment thereof is made before the expiration of tho eighth year after the organ- ization of tho association, there shall be refunded to such borrower one-eighth of the premium bid for every year of tho said eight years unexpired, providing that when the stock is issued in separate series the time shall be computed from the date of issuing tho shares of stock on which tho loan was made, and when tho series of stock has a less period than eight years to complete the full payment thereof, or a longer period than eight years from the date of said series to complete the full payment thereof, there shall be refunded only pro rata for the unexpired term of the series. But the bylaws of such association may prescribe different terms upon which loans may bo repaid, and the voluntary repayment of loans can only be mado in accord- ance with the bylaws of tho association. Loans made in accordance with the pro- visions of this act shall become due and payable upon the date of the maturity of the stock of the borrowing member pledged as collateral security to such loan, but the payments made by the borrowing member upon the stock so pledged shall not be considered as payments upon the principal of the loan. Sec. 8. Such associations may contract for and collect from their members the premiums or bonus bid by their stockholders for preference or priority right to loans in periodical instalments, and such premiums or bonus so paid in instalments shall nob be deemed usurious, and shall bo taken to be a payment as it falls due in contra- distinction to a premium offered and paid in advance. Sec. 9. Such associations shall have the right to impose fines upon their members 680 REPORT OF THE COMMISSIONER OF LABOR. for the non-payment of dues, interest, premiums, taxes, insuranco or other sums which may ho due such associations at the times and in the manner provided for the payment of tho same hy their bylaws, which fines shall he a lien upon the stock of such defaulting member, or upon any other property or security held by the associa- tion and belonging to such member, and no fine, premium, bonus or premiums paid by members for preference or priority right to loans, fines or interest on such pre- miums shall bo deemed a violation of any statute against the taking of usury, and they may bo enforced and shall be collectible from the members of the associations in accordance with the provisions of its bylaws. Sec. 10. Any association incorporated by or under the provisions of this act, or any one heretofore incorporated accepting of the provisions of the same, as herein- after provided, is hereby authorized and empowered to purchase at any sheriff's or other judicial sale, or at any other sale, public or private, any real estate upon which such associations may have or hold any mortgage, judgment, lien or other incumbrance, or in which said association may have an interest; and the real estate so purchased, or any other that such association may hold, they shall have power to sell, convey, lease or mortgage at pleasure to any person or persons whatsoever, and all sales of real estate heretofore made by such association to any person or persons, are hereby confirmed and made valid. Sec. 11. The associations may by proper bylaws provide for the retirement of unpledged shares of any series at any time by enforcing withdrawals of same, pro- vided that the shares to he so retired shall be determined by lot, and that the holders of tho same shall be paid the full value of their shares as determined by the last annual or semi-annual distribution of profits, less all fines and a proportionate part of any unadjusted loss. Sec. 12. When each unpledged share of a given series reaches its par value, all payments of dues thereon shall cease, and the holder thereof shall be paid out of the funds of the association its par value with such rate of interest as shall be deter- mined by the bylaws, from the time tho board of directors have declared such shares to have matured until the time of payment. Provided, that at no time shall more than one-half (J) the receipts of the association he applicable to tho payment of matured shares without tho consent of the hoard of directors. Tho order of payment of matured shares shall be determined by the board of directors. Sec. 13. Whenever any member shall be six (G) months in arrears for non-payment of dues upon unpledged shares tho secretary of the association shall give him notice thereof in writing, with a statement of his arrearages, by mailing the same to him at tho last post office address given by him to the association, and if he shall not pay the same at the second regular monthly meeting thereafter, tho board of directors may at their option declare his shares forfeited, and at the time of such forfeiture the withdrawal value thereof shall be determined and stated, and tho defaultiug member shall be entitled to withdraw the samo without iuterest within one (1) year, upon tho samo conditions as shall be required of withdrawing shareholders. Sec. 14. Such association may borrow money for the purpose of making loans, paying withdrawals or refunding existing indebtedness, not exceeding, however, fifty (50) per cent of its then accumulated assets and as security for the samo its board of directors may pledge or mortgage such portion of its mortgage loans or other assets as they may deem expedient. Any association haviDg a surplus in its treasury for which there is no demand for loans, withdrawing shareholders, matured stock or other obligations, may loan the samo to another similar association organ- ized under tho provisions of this act, or having accepted of tho same as hereinafter provided, subject to the provisions of this section on the part of tho borrowing associ- ation. No association shall borrow or make loans authorized by this section except by a two-thirds vote of its board of directors, such vote to bo recorded by ayes and nays in its regular minutes, and such association at any time when it shall have a surplus of money in its treasury may make loans to persons not members of the asso- CHAPTER VI. GENERAL LEGISLATION — SOUTH DAKOTA. 681 ciation upon real estate security on such terms and at such rates of interest, not in excess of twelve (12) per cent per annum, as its board of directors may determine. Sec. 15. Profits and losses shall he distributed at least annually to the shares then outstanding in proportion to their holding value, as distinguished from their with- drawing value. At each periodical distribution of profits, the board of directors may reserve and carry as undistributed profits, in the nature of a guaranty fund any sum from the net profits that in their discretion seems wise to bo applied upon any future losses that may occur, which fund shall not bo deemed a part of the full value of stock in liquidating, surrendering or withdrawing shares. Sec. 16. No transfer of shares- shall bo binding upon the association until the same shall have been made upon its books ; and the transferee thereof shall take the same charged with and shall be responsible for all the obligations, liabilities and conditions attaching thereto, or secured by said stock. Sec. 17. Such association shall have power to adopt bylaws not inconsistent with the provisions of this act, defining the duties of officers and committees, times of meetings, mode of determining and declaring the withdrawal value of shares, and regulating all other matters pertaining to their business. Such associations may in their original bylaws confer authority on their board of directors to make amend- ments thereto. Sec. 18. Any person of sound mind may become a member of such association by taking one or more shares therein, and having his namo and post office address recorded upon the books of the association, and whenever ho desires his post office address changed ho shall give written notice thereof to the secretary of the associa- tion, and in all matters requiring notico to bo giveu to the members of such associa- tions it shall be sufficient to mail such notice or ii copy thereof, prepaid, and directed to the member to be notified at his last furnished post office address. Sec. 19. The filing by a member of his application for withdrawal of stock held by him shall not sever his relation to the association as a stockholder, but such relation shall continue and he shall bo subject to all the duties and obligations of a stockholder until the final payment to him by the association of tho withdrawal value of his stock; and upon such payment his obligation and liability as a stock- holder shall cease, as to tho stock so withdrawn. Sec. 20. All mortgages given to associations formed under this act for loaas made or to bo made, shall havo priority over liens upon the mortgaged premises, and upon tho buildings and improvements on such premises, which shall be filed subsequent to tho recording of such mortgage in the office of tho register of deeds of tho county where such premises are situated. Sec. 21. Any association shall have authority to consolidate with one or more corporations organizod under this act or accepting of its provisions, upon such terms as may bo agreed upon, when such consolidation shall bo deemed advisable by tho unanimous voto of the directors of each of the associations so consolidating, and to transfer to such consolidated corporation its entire assets, subject to the vested rights of its members. Sec. 22. Such associations shall annually in January of each year make to the secretary of state a full report in writing of their affairs and financial condition, setting forth in detail their assets and liabilities as they appeared on the thirty-first (31st) clay of December preceding. Such report shall be filed not later than the fif- teenth day of January, and be verified by an officer of the association. Every asso- ciation shall make any further reports which the secretary of state shall require, and in such form and as to snch matters relating to tho condition and conduct of the business of the association, as the secretary of stato shall designate. And it shall bo tho duty of tho public examiner to examine at least onco in each year tho finan- cial condition of every such association and to make such report of said examination as ho is now required to make regarding the examination of banks. Any wilful false swearing in making and verifying such reports by the officers of such association shall bo deemed u. perjury. 682 REPORT OF THE COMMISSIONER OP LABOR. Sec. 23. If any such association shall fail to furnish to the secretary of state any report required by this act, at the time so required, it shall forfeit the sum of ten flO) dollars per day for every day such report shall ho wilfully delayed or withheld. The secretary of state may maintain action in his name of offico to recover such pen- alty, and the same shall be paid into the treasury of the stato and applied to the expenses of his department. Sec. 24. All associations organized under the provisions of this act shall he sub- ject to visitation and examination at all times by the public examiner or his depu- ties, upon the application of three (3) or more members of said association. If it shall appear to said examiner, from the report of any such association, or from any examination by him, that any such association is violating the provisions of this <,ct, or is conducting its business in an unsafe or unauthorized manner, he shall by an order under his hand and seal addressed to such association, direct the discontin- uance of such illegal and unsafo practices; and whenever any association shall neg- lect or refuse to comply with such order, or make reports as required, he shall com- municate such facts to the attorney general, who shall thereupon be authorized to institute such proceeding as the nature of the case may require. Sec. 25. All mortgages, obligations, undertakings or conveyances of real property heretofore given to, or mortgages, obligations, undertakings or conveyances of real property, given by, and all contracts entered into with any building and loan asso- ciation heretofore organized or doing business under the laws of the territory of Dakota or state of South Dakota before the passage of this act, such association having first accepted the provisions of this act, as hereinafter provided, are hereby made and declared to be good and valid to all intents and purposes, the same as though they had been mado to associations organized under the provisions hereof. Sec. 26. No such association shall ever issue any preferred or non-contributing stock except fully paid debenture and deposit stock. Sec. 27. Any building and loan association which has made and filed its articles of incorporation under the laws of tho territory of Dakota, or state of South Dakota, and received its certificate of incorporation as by such laws provided, and whose principal place of business is within the state of South Dakota, shall be entitled to all tho benefits of this act, and have all the rights, powers and privileges by this act conferred, upon accepting the same by a unanimous vote of its board of directors at a regular meeting thereof, and filing with the secretary of state the certificate of its president and secretary, showing such acceptance, and thereafter such association so accepting shall be deemed to have been duly incorporated at and from the time of the issuing of its certificate of incorporation under the laws of the territory of Dakota, or state of South Dakota, and a certified copy of such certificate of its president and secretary under the hand of the secretary of state, shall be prima facie evidence of such acceptance. Sec. 28. Any corporation, company or association organized under the laws of any other state, territory or nation, and having for its title, or for a part thereof, the words " building association/' " building and loan association," " savings associa- tion," " homestead association," or whose stock is payable by an accumulative fund in regular or stated periodical instalments, or whose business is done in a manner similar to that authorized to be done by the laws of this state relating to building and loan associations, shall transact no business of any kind within this state until it shall have complied with the requirements of this act. Sec. 29. Every such corporation, company or association shall, before transacting any business within this state, make and file with tho secretary of state, a statement verified by its president or secretary, showing tho assets and liabilities of such cor- poration, company or association, its principal placo of business, the names and addresses of its officers, with a copy of its articles of incorporation, and shall accom- pany tho same with an application for permission to transact business within this state, and shall at the time of filing such report and application pay to the secretary of stato a fee of twenty-five (25) dollars. CHAPTER VI. GENERAL LEGISLATION — SOUTH DAKOTA. 683 Sec. 30. Every corporation, company or association described in section 28 of this act and organized or incorporated without the state of South Dakota, before doing any business within this state, shall by an instrument in writing, duly executed, appoint the secretary of state the true and lawful attorney of such corporation, com- pany or association upon whom all lawful process in any action or proceeding by any resident of this state against such corporation, company or association, may be served with the same effect as if such corporation, company or association existed in this state and had been lawfully served with process therein. A certificate of such appointment, duly certified and authenticated, shall be filed in the office of the secretary of state and copies certified by him or his deputy shall be deemed sufficient evidence in regard thereto. Service in favor of a resident of this state upon such attorney shall thereafter be deemed a personal service upon such corporation, com- pany or association. Sec. 31. Whenever lawful process against such corporation, company or associa- tion shall be served upon the secretary of state, under the provisions of this act, he shall forthwith forward a copy of the process served on him by mail, prepaid and directed to the secretary of the corporation, company or association, at the last known post office address of such corporation, company or association. For each copy of process, the secretary of state shall collect the sum of five (5) dollars, which shall be paid by the plaintiff or moving party at the time of such service, the same to bo recovered by him as a part of his taxable disbursements if he succeeds in the suit or proceeding. Sec. 32. No such foreign association shall do business in this state unless it has first mortgage securities of the bona fide value of fifty thousand (50,000) dollars; the ownership of which amount of said securities, by such foreign association shall be authenticated by evidence satisfactory to the secretary of this state. Sec. 33. When any such corporation, company or association shall have complied with all the requirements of this act, the said secretary shall issue to such corpora- tion, company or association a certificate stating that it has complied with the same and is entitled to do business in the state of South Dakota until the thirty- first day of January of the year succeeding. Provided, however, that said secretary of state may at any time revoke such license if it shall by satisfactory evidence appear either : 1. That any statement or report, required or authorized by this act to be made as a condition of doing or continuing such business in this state, is untrue, or 2. That such corporation, company or association is insolvent or the security of its shareholders in this state, by mismanagement or otherwise is rendered unsafe or insecure, or 3. That such corporation, company or association has. violated the laws of this state or failed to comply therewith. If such license shall be revoked, as aforesaid, on notice thereof, such association shall cease to do business in this state, but such revocation shall not effect any of the provisions of this act in regard to the service of process. Sec. 34. Such corporation, company ot association shall annually make and file with the secretary of state on or before the twentieth day of January of each year, a statement verified by the oath of its president or secretary, showing in detail its assets and liabilities as they existed on the thirty-first day of December previous ; and shall accompany the same with a fee of ten (10) dollars, and on receipt of such report, it appearing that such corporation is solvent, the secretary of state shall issue to said coi-ipany, a certificate authorizing it to do business within this state until the thirty-first day of January of the succeeding year. Sec. 35. When by the laws of any other state, territory or nation, any taxes, fines, . penalties, licenses, fees, deposits of money or securities or other obligations or pro- hibitions are imposed on building and loan associations of this state, doing business in such other state, territory or nation, or upon their agents therein, so long as 684 REPORT OP THE COMMISSIONER OF LABOR. such laws continue in force, the same obligations and prohibitions of whatever kind shall be imposed on the corporations or companies described in section twenty-oiglit of such other state, territory or nation doing-business in this state and upon their agents here. Sec. 36. Any agent or other person who shall solicit subscriptions to, or sell or advertise to be sold in this state, shares of stock of any corporation, company or association described in section twenty-eight (28) of this act or who shall receive money or deposits for such corporation, company or association, unless such corpo- ration, company or association shall have fully complied with the provisions of this act, and shall hold uncancelled the certificate of authority provided for by this act, shall be deemed guilty of a misdemeanor and upon conviction shall be punished by a fine not exceeding one thousand (1,000) dollars or imprisonment in the county jail not exceeding twelve months or by both such fine and imprisonment, and shall also be personally liable in caso of loss for all subscriptions obtained or moneys paid through his solicitations or agency. TENNESSEE. CODE OF 1884. Section 17-12. The charter for a building association shall be in the following form: "State of Tennessee — Charter of Incorporation. "Be it known, that (here copy the nxmes of five or more corporators above the age of twenty-one years,) are hereby constituted a body politic and corporate by the name and stylo of" (here insert tho name of the corporation.) Sec. 1743. The general powers, of said corporation are : 1. To suo and he sued by the corporate name. 2. To have and use a common seal, which it may alter at pleasure; if no common seal, then the signing of the name of the corporation, by any duly authorized officer, shall he legal and binding. 3. To purchase and hold, or receive by gift, in addition to the personal property owned by said corporation, any real e3tate necessary for the transaction of the cor- porate business, and also to purchase or accept any real 63tate in payment, or part payment, of any debt due to the corporation, and sell realty for corporation pur- poses. 4. To establish bylaws, and make all rules and regulations not inconsistent with the laws and the constitution, deemed expedient for the management of corporate affairs. 5. To appoint such subordinate officers and agents, in addition to the president, secretary or treasurer, as the business of the corporation may require. 6. To designate the name of the office, and fix tho compensation of the officers. 7. To borrow money, and issue notes or bonds upon the faith of the corporate prop- erty, and also to execute a mortgage or mortgages, as further security for repayment of money thus borrowed. The following provisions and restrictions are coupled with said grant of powers: 1. A failure to elect officers at the proper time, does not dissolve the corporation, but those in office hold until tho election or appointment and qualification of their successors. 2. The term of all officers may be fixed by the bylaws of the corporation ; the same not, however, to exceed two years. 3. The corporation may, by bylaws, make regulations concerning the subscription for, or transfer of stock; fix upon the amount of capital to bo invested in the enter- prise; the division of tho same into shares; the time required for payment thereof by the subscribers for stock; the amount to be called at any one time; and in case of failure of any stockholder to pay the amount thus subscribed by him at the time CHAPTER VI. — GENERAL LEGISLATION — TENNESSEE. 685 and in the amounts thus called, a right of action shall exist in the corporation to sue said defaulting stockholder for the same. Sec. 1744. The funds of said corporation may he loaned out to the stockholders in such manner, on such terms and conditions, and under such regulations as the said corporation, hy its constitution and bylaws may prescrihe : Provided, the same he secured by real estate, and any funds of the said corporation, which may remain after the stockholders have borrowed all they desire, may be loaned out to other persons, the samo being secured by a lien on real estate. Sec. 1745. The moaibers of said corporation shall have the power to adopt a con- stitution, and the constitution adopted, tho bylaws and regulations, shall have the force and effect of a legal enactment on tho members of said corporation : Provided, the same are not in conflict with the general laws of tho land. Sec. 1746. The corporation shall havo the power to take and hold all such real estate as maybe mortgaged to it, or conveyed in trust, to secure any debt due to the corpora- tion for loan of its funds ; and the said corporation shall have power to purchase any such real estate at any sale thereof, and the same to hold, sell or otherwise dispose of, as the said corporation may deem expedient. Sec. 1747. The bylaws may proscribe the amount of shares and the time of pay- ment thereof by instalments, but the monthly call for payment of said instalments shall not exceed two dollars on each and every share. Every share of stock shall be made liable for and subject to a lien for the satisfaction of any unpaid instalments, and the bylaws may proscribe the mode and manner of enforcing said lien. Sec. 1748. New shares may be issued in lieu of any shares withdrawn or forfeited. The shares may bo issued in ono or successive series, in such amounts as the board of directors may determine, and any stockholder wishing to withdraw, as he or she may have the right, shall give thirty days' notice thereof, when said withdrawing stockholder shallbe entitled to receive the amount paid in, and such proportion of the profits as may havo accumulated. Sec. 1749. At no time shall moro than one-half the funds in the treasury bo sub- ject to the demands of withdrawing stockholders, without tho consent of the board of directors ; nor shall any stockholder be entitled to withdraw, whose shares are pledged to the corporation. Sec. 1750. The personal representative, upon the death of a stockholder, shall be entitled to receive tho full amount paid in by the deceased, and all profits which have been realized. If said stock is pledged to the company, the same shall be redeemed by said personal representative. Sec. 1751. The board of directors shall hold stated meetings, at which the money in the treasury, if over two hundred dollars, shall be offered for loan in open meet- ing, at a rate not in conflict with the law of the state, and the stockholder who shall bid the highest premium for the preference or priority, shall bo entitled to receive a loan of two hundred dollars for each share held by such stockholder. Sec. 1752. A stockholder may borrow such fractional part of two hundred dollars as tho bylaws may provide, and good security shall be given by the borrower to secure the repayment of the loan. In case the borrower shall neglect to offer secu- rity, or shall offer security that is not approved, the proposed borrower thus failing to give security, shall be charged with ono month's interest, and tho money resold at the next stated meeting. Sec. 1753. Incase of non-payment of instalments or interest hy borrowing members for the period of six months, payment of principal and interest, without deducting the premium paid, or interest thereon, may be enforced by proceeding on their securi- ties, according to the terms of tho contract under which the same were pledged. Sec. 1754. The premium bid by borrowing stockholders for the preference or pri- ority of loan shall be paid before the loan is consummated, not as a part of the loan, nor "as interest, but as a means of determining which one of the shareholders shall receive the loan, whenever there are a number of stockholders who may aiinultane- ously desire to effect a loan. 686 REPORT OF THE COMMISSIONER OF LABOR. Sec. 1755. Said corporation may purchase at judicial or execution or trustee's sale, any real estate, mortgaged or conveyed to it to secure a debt, and said roal estate or any other real estate the corporation may "be entitled to hold, the said corporation shall have the power to sell, convey, lease or mortgago at pleasure. Sec. 1756. Said corporation may determine by an express provision of bylaws, that -when each share of stock reaches a certain value, to be specified thereby, not exceeding two hundred dollars, the stockholders shall be paid such value for each sharo they respectively own, and that upon such payment the stock shall revert to tho corporation. Sec. 1757. Married women may hold stock in such corporation, free from the claims or debts of their husbands. No one person shall hold more than fifty shares. ACTS OF 1889." Chapter 267. Section 1. In addition to the form of charter for a building association given ii> said section [1742, Code of 1884], the charter for a building association may be Ln the following form: Charter op Incorporation. Be it known that (here copy the names of five or more corporators above tho age of twenty-one years) are hereby constituted a body politic and corporate by the name and style of (here insert the name of the corporation). The general powers, etc., of said corporation are (here set forth the powers, etc., as declared in section 5 [1746J of the act to which this is amendatory) : The funds of said corporation may be loaned out to the stockholders in such manner, on such terms and conditions, and under such regulations as the said corporation, by its constitution and bylaws, may prescribe ; Provided, the same be secured by real estate, and any funds of the said corporation which may remain after the stockholders have borrowed all they desire may be loaned out to other persons, the same being secured by a lien on real estate. The members of said corporation shall have tho power to adopt a constitution, and the constitution adopted, the bylaws and regulations shall have the force and effect of a legal enactment on the members of said corporation; Provided, the same are net in conflict with the general laws of the land. The corporation shall have the power to take and hold all such real estate as may be mortgaged to it, or conveyed in trust to secure any debt due to the corporation for loan of its funds, and the said corporation shall have the power to purchase any such real estate at any sale thereof, and the same to hold, sell, or otherwise dispose of, as the said corporation may deem expedient. Tho bylaws may prescribe the amount of shares and the time of payment thereof by instalments, but the monthly call for payment of said instalments shall not exceed two dollars on each and every share. Every share of stock shall be liable for, and subject to a lien for the satis- faction of any unpaid instalments, and the bylaws may prescribe the mode and manner of enforcing said lien. New shares may be issued in lieu of any shares with- drawn or forfeited. The shares may be issued in one or successive series in such manner and in such amounts as the board of directors may determine, and any stock- holder wishing to withdraw, as he or sho may have the right, shall give thirty days' notice thereof, when said withdrawing stockholder shall be entitled to receive the amount paid in, and such proportion of the profits as has been accumulated; Pro- vided, that at no time shall more than one-half the funds in tho treasury be •snbjeet to tho demands of withdrawing stockholders without the consent of the Tjoard of directors. Stockholders who are borrowing members, and who desire to have their mortgages or deeds of trust cancelled and leave the association beforo their stock CHAPTER VI. GENERAL LEGISLATION — TENNESSEE. 687 matures, may do soon the following terms, to wit : If a loan is repaid within one year from the date on which it is made the borrowers must pay the premiums for one year and pay to the association an amount which, when added to the dues and earn- ings credited to his stock, will aggregate tho sum actually borrowed, together with the legal rate of interest up to the date of repayment and all delinquent assess- ments. If, after tho expiration of one year, a borrowing member desire to repay his loan he will only bo compelled to pay premiums and interest up [to] tho time of repay- ment, and the cancellation of his mortgage or deed of trust will be adjusted as above stated. The personal representatives, upon the death of a stockholder, shall be entitled to receive the full amount paid in by tho deceased, and any profits which have been realized : Provided, that if said stock is pledged to the company tho same shall be redeemed by said personal representative. Tho board of directors shall hold stated meetings, at which the money in the treasury, if over two hundred dollars, shall be offered for loan in open meeting, at a rate not in conflict with the law of tho state, and the stockholder who shall bid the highest premium (payable in regular weekly or monthly rates or instalments) for the preference shall be entitled to receive a loan of two hundred dollars for each share held by such stockholder; Provided, that a stockholder may borrow such frac- tional part of two hundred dollars as the bylaws may provide, and good security shall be given by the borrower to secure the repayment of tho loan. In case the borrower shall neglect to offer security, or shall offer security that is not approved, tho proposed borrower thus failing to give security shall be charged with one month's interest, and the money resold at the next stated meeting. In case of non-payment of instalments or interest by borrowing members for the poriod of six months, payment of principal and interest, without deducting the premium paid, or interest thereon, may bo enforced by proceeding on their securities, according to the terms of the contract under which the same are pledged. The premium bid by borrowing stockholders for the preference or priority of loan may be paid in regular weekly or monthly instalments, not as a part of the loan, not as interest, but as a means of determining which one of the shareholders shall receive the loan, whenever there arc a number of stockholders who may simultane- ously desire to effect a loan. Said corporation may purchase, at judicial, or execu- tion, or trustee's sale, any real estate mortgaged or conveyed to it to secure a debt, and said real estate or any other real estate, the corporation may be entitled to hold, the said corporation shall have the power to sell, convey, lease, or mortgage at pleasure. Said corporation may determine by an express provision of -bylaws that when each share of stock Teaches a certain value, to be specified thereby, not exceeding two hundred dollars, the stockholders shall be paid such value for each share they respectively own, and that upon such payment the stock shall revert to the corporation. Married women may hold stock in said corporation free from the claims or debts of their husbands. No one person shall held more than fifty shares. Sec. 2. Building associations operating under any other form of charter may be per- mitted to be operated in accordance with the terms of the foregoing charter after the adoption by a vote of tho stockholders owning two-thirds of the stock of a resolu- tion to that effect, and the procuring of a new charter containing the provision above set forth. Such stockholders as do not favor the change may be permitted to withdraw on the terms setforth in the act to which this is amendatory, for settle- ments between the corporation and tho personal representatives of deceased stock- holders. 688 REPORT OF THE COMMISSIONER OF LABOR. ACTS OF 1891. Chapter 2. Section 1. Every building and loan association heretofore or hereafter incorpo- rated under the laws of this state which loans its funds outside of the county in which it has its domicile, shall deposit and keep on deposit with tho treasurer of the state, or with a trust company legally incorporated and duly organized under the laws of this state, to he selected by tho hoard of directors of such association, in trust for all its members and creditors,, mortgages (or other securities), received by it in the usual course of its business, amounting to not less than twenty-fivo thousand (25,000) dollars nor more than fifty thousand (50,000) dollars, at the discretion of the state treasurer. When such mortgages (or other securities) are deposited with the said trust company, such company shall certify to the treasurer of the state that the said scouiities have been and are deposited with it under this act, and the same shall not be surrendered to or returned to tho said building and loan association without tho authority or sanction of tho said treasurer of the state. Provided, that every such corporation heretofore organized, whoso mortgages or other securities so depos- ited do not amount to twenty- five thousand (25,000) dollars, shall, within six months from the r>assago of this act, deposit with tho treasurer of tho state, or trust com- pany, such additional securities, as with the securities so deposited, shall equal in value tho sum of twenty- five thousand (25,000) dollars ; and every such corporation hereafter organized, beforo commencing to do business, shall deposit with tho said treasurer of tho state, or trust company in trust, as aforesaid, securities of the value of twenty-five thousand (25,000) dollars. The securities mentioned in this proviso shall consist of bonds or treasury notes of the United States, national or state bank stocks or bonds of. this state, or any other state of the United States, or of any sol- vent city, county or town of this state, or of any state of the United States having legal authority to issue tho same, or first mortgages on real estate, or other legal securities aggregating in valuo twenty-five thousand (25,000) dollars, and such secu- rities may bo withdrawn from timo to timo when mortgage securities of correspond- ing value shall be deposited in lieu and place thereof as provided, in this act, or when other securities of liko character and valuo are substituted thereof [therofor], and it shall bo tho duty of the treasurer of the state to examine the affairs of the said association from time to time to ascertain whether said associations havo depos- ited all their securities and otherwise complied with the requirements of this act. Sec. 2. All interest and dividends and premiums which may accrue on securities held by the treasurer of the state, or such trust company as provided herein, and all dues or monthly payments which may becomo payable ou stocks pledged as secu- rity for loans, the mortgages for which are so deposited in accordance with tho pro- visions of this act, may be collected and retained by tho association depositing such securities as mortgages, so long as such association remains solvent and faithfully performs all contracts with members, and when any mortgage shall havo been fully paid to said corporation, the same shall be surrendered by said treasurer of the state or under his order, upon filing with him a certificate of tho register of deeds of the county where the real estate is situated, to the effect that tho satisfaction of such mortgage has been .filed of record. Any mortgage upon which default in the payment due has been made, shall be surrendered to, or returned to, the said build- ing and loan association as aforesaid, for the purposo of collection or foreclosure. Bonds or stocks deposited with said treasurer of tho state, or trust company as afore- said shall, if deemed advisable by tho association, bo surrendered to tho association depositing the same, for the purposo of being converted into cash and loaned on real estate. Securities needed for deposit in any other state, territory or nation shall, subject to tho provisions of section 1 of this act, bo surrendered upon request to the association depositing the same for the purpose of making such deposit. No CHAPTER VI. GENERAL LEGISLATION — TENNESSEE. 689 securities required to be withdrawn by said association from the said treasurer of the state or trust company, shall be withdrawn except upon filing with the said treasurer of the state, before the same are surrendered, an affidavit of the president and secretary of the association, stating the reason for desiring to withdraw such securities, and Buch securities shall not be used for any purpose other than that stated in said affidavit. Sec. 3. No building and loan association organized under the laws of any other stato, territory or foreign government, shall do business in this stato unless said association shall (deposit and continually thereafter) keep deposited in trust for all of its members and creditors, with some responsible trust company, or with some state officer of this or some other stato of the United States, mortgages (or other securities) received by it in the usual course of its business, amounting to not less than twenty-five thousand (25,000) dollars nor more than fifty thousand (50,000) dollars, at the discre- tion of the stato treasurer. All of tho personal obligations of its members taken in the ordinary course of business of such association and secured on first mortgage on real estato, all dividends and interest which may accrue on securities held in trust, as aforesaid, by the trust company or the state, as provided herein, and all dues or monthly payments which may become payable on stock pledged as security for loans, the mortgages for which are on deposit in accordance with the provisions of this act, may be collected and retained by the association depositing such securities or mortgages, so long as such association remains solvent, and faithfully performs all contracts with its members. Any securities on deposit, as provided herein, may from time to time be withdrawn, if others of equal value are substituted therefor. Every building and loan association organized under the laws of any state, territory or foreign government shall, before commencing to do business in this state — 1. File with tho treasurer of this state a duly authenticated copy of its charter or articles of incorporation. 2. File with the treasurer of this state the certificate of the proper state officer of another state or the president and treasurer of some responsible trust company, certifying that it has on deposit securities, not less than $25,000, taken in the regular course of business, as mentioned in this act, in trust for all the members and creditors of such building and loan association. 3. File with tho state treasurer a duly authenticated copy of a resolution adopted by tho board of directors of such association, stipulating and agreeing, that if any legal process affecting such association bo served on said state treasurer, and a copy thereof bo mailed, postage prepaid, by the party procuring the issuing of the same or his attorney to said association, addressed to its home office, then such service and mailino- of such process shall have the same effect as personal service on said association of this state. 4. Pay tho stato treasurer twenty-five (25) 'dollars as fees for filing the papers men- tioned in this section. Sec. 4. When process against or affecting any foreign building and loan associa- tion is served on the stato treasurer, the same shall be by duplicate copies, one of which shall be filed in tho office of said state treasurer, and tho other by him imme- diately mailed, postage prepaid, to the home office of said association. Tho word process in this act shall include any writ, summons, complaint, declaration or order whereby an action, suit or proceeding shall bo commenced, or which shall bo issued in or upon any action, suit or proceeding at law or in equity authorized by law in this state. Sec. 5. When by the laws of any other stato, territory or nation, any taxes, fines, penalties, licenses, fees, deposits of money, securities or other obligations or prohibi- tions are imposed on building and loan associations of this stato doing business in Bueh other state, territory or nation, or upon their agents therein so long as such laws continue in force, the same obligations or prohibitions of whatever kind, shall H. Ex. 209 44 690 REPORT OP THE COMMISSIONER OF LABOR. 1)0 imposed upon all building and loan associations of such other state, territory or nation, doing business in this state and upon their agents here. Sec. 6. The nanio "building and loan association," as used in this act, shall include all corporations, societies, or organizations or associations doing a savings and loan investment business on the building society plan, viz. : Loaning its funds to its members, whether issuing certificates of stock which mature at a fixed timo in advanco or not. Sec. 7. No officer, director or agent of any foreign building and loan association shall, in this state, solicit subscriptions to the stock of such association, or sell, or knowingly cause to bo sold or issued, to a resident of this state any stock of an association while said association has not on deposit securities as required by sec- tion 3 of this act, or before said association has complied with all the provisions of this act. License to agonts of such companies or associations shall be issued by the treasurer, annually, on the first of January, and said treasurer is authorized to collect from each agent for said license $2 fee. Any violation hereof shall be deemed a misdemeanor, and upon conviction shall be punished by a fine of not less than teu dollars or more than fifty dollars. Sec. 8. No officer, director or agent of any building and loan association incor- porated under the laws of this state shall sell, issue, or knowingly cause to be sold or issued to any person not a resident of the state, in which the home office of said association is locatod, any stock of said association, while said association does not havo on deposit securities as required by section 1 of this act. Any violation hereof shall bo deemed a misdemeanor, and, upon conviction, the offender shall be punished by a fine of not less than one hundred dollars, nor more than five hundred dollars, or by imprisonment not less than ten days or more than six months, or by both, such fine and imprisonment, in tho discretion of the court. Sec. 9. On or before the first day of September in each year every building and loan association doing business in this state, and governed by this act, shall deposit with tho treasurer of the state a report of its affairs and operations for the year end- ing on the 30th day of June immediately preceding; such report shall be verified under oath by the president and secretary, or by three directors of the association, and shall contain answers to tho following questions : 1. The date when tho association was iucorporated and the par value of each share of stock. 2. Tho number of shares sold during the year. 3. The number of shares cancelled and withdrawn during the year. 4. Number of shares in force at tho cud of the year. 5. A statement of the receipts and disbursements of the loan fund during the year. 6. A statement of tho assets and liabilities at tho end of the year. Such association shall pay to the treasurer of the state $50 on filing such report. If any such association shall wilfully fail to furnish to the treasurer of tho state any roport required by this act, at the time so required, it shall, in the discretion of the state treasurer, forfeit the sum of twenty-five dollars ($25) per day for every day such report shall he delayed or withhold, and the treasurer of the state may main- tain an action in his name of office to recover such penalty, and the same shall be paid into the treasury of tho state for the benefit of the state. Sec. 10. Every association depositing securities with the treasurer of the state, as provided for in this act, shall annually pay to said treasurer of state a fee of fifty dollars ($50). Sec. 11, (as amended by chapter 114, acts of 1893). It shall bo the duty of the treasurer of tho state, once in each year, at such time as ho may select, to have the books and statements of each association governed by this act, and doing business under the laws of this state, examined and verified, and, for that purpose, he is hereby authorized and empowered to employ an agent or expcTt to do same, who shall be subject to removal at any time by the treasurer. CHAPTER VI. GENERAL LEGISLATION — TENNESSEE. 691 Sec. 12. All of the officers of any building and loan association governed by this act, and doing business in this state, -who handle any of the funds of such associa- tions, shall give sufficient bonds for the faithful performance of their duties as the board of directors may require, and no such officer shall be deemed qualified to enter upon the duties of his office until his bond is approved by the board of directors, with whom such bonds shall be filed; Provided that tho state treasurer may require of any association, at any time, such increase of said bond, or additional sureties thereto, or such increase of said insurauoe as he may deem necessary for the protec- tion of tho members. The penalty for a failure of any association to file and main- tain tho bonds or policy, as required by the provisions of this section, shall be a fine of one hundred dollars ($100) for each day such association transacts business after such bond has become due under tho provisions of this act, said bond or policy shall bo hold in trust for the benefit and protection of the members of such association, and shall be enforceable by any member 'whenever causo of action shall accrue thereon . Sec 13. This act shall take effect and be in force after its passage, provided that any association heretofore incorporated under the laws of this state, and subject to section 1 of this act, not having at the time this act takes effect, securities to the amount oftwenty-five thousand (25,000) dollars, may have until October 1st, 1891, in which to make a deposit of said sum, as provided in section 1 of this act. All acts or parts of acts inconsistent herewith are hereby repealed. Chapter 95. Section 1. * * * sections 1992 to 2003 [general provisions relating to foreign corporations] of Milliken and Vertrees' compilation of the laws of Tennessee, be so amended as to apply to corporations chartered under the laws of other states known as " building and loan associations," * * * . ACTS OF 1893. CHArTEB 12. Section 1. Building and loan associations authorized and permitted to be incor- porated under the provisions of chapter 142 of the acts of 1875 [sections 1742 to 1757, inclusive, Code of 1884], and chapter 267 of the acts of 1889, may bo invested with the following powers, and subject to the following duties and restrictions, viz. : Said association may issue stock in different series, provided the par value of the shares shall not exceed two hundred dollars, and provided no person shall own more than one hundred shares of stock of the par value of two hundred dollars. Said association may issue instalment stock, to be paid for in periodical sums, and prepaid and paid-up stock, upon which a gross sum shall be paid in advance in cash, as may be prescribed by the bylaws, and cash dividends may be paid on the said stock, authorized to be issued, out of tho net earnings, as the bylaws may prescribe, provided such dividends shall not exceed the per cent of profits earned. Every share of stock shall be liable for and subject to a lien for the satisfaction of any unpaid instalments and other proper charges, such as fines, premiums, and interest on loans. Any stockholder whose stock is not pledged for a loan, shall be entitled to withdraw upon such conditions as may be prescribed in the bylaws, upon thirty days' written notice. Tho board of directors shall have the power to loan the funds of tho association to its stockholders, either in open meeting or by action on written application and bids at a rate of interest not in conflict with the laws of the state, and the premium may be payable in instalments or otherwise. The board of direc- tors shall havo the right, for sufficient reason, to reject any bid or application, but such action shall not bo arbitrary. The board of directors shall have the power, should they elect to do so, to establish or maintain by its officers or agents branch offices for the conduct of its business at as many places as may be desired. 692 REPORT OP THE COMMISSIONER OF LABOR. Sec. 2. This act shall not apply to any existing l)uilding or loaD association or associations organized under chapter 142, acts of 1875 [sections 1742 to 1757, inclusive, Code of 1884], or chapter 267, acts of 1889; Provided, however, that any association heretofore incorporated and organized under chapter 142 of the acts of 1875 [sections 1742 to 1757, inclusive, Code of 1884], or chapter 267 of the acts of 1889, may avail themselves of the benefits of this act, and obtain the powers herein granted in the manner and form prescribed in section 19 of chapter 163 of the acts of 1883, brought into Milliken & Vertrees' compilation of the laws of Tennessee by section 1695 [pro- viding for amendments and change of name]. Chapter 114. Section 2. Said expert or agent [provided for in section ll,chapter 2, acts of 1891] shall be allowed a fee of twenty-five dollars for examining each association, and three dollars per day as travelling and other expenses, which said associations are hereby required to pay. Sec. 3. Any and all parties violating any of the requirements of this act, are hereby declared guilty of a high misdemeanor, and shall be subject to a fine of twenty-five dollars per day for each day's violation thereof, and the treasurer of the state may maintain action in his name for the recovery of said fine. TEXAS. The laws of this state contain no general legislation relating especially to build- ing and loan associations. UTAH. LAWS OF 1890. Chapter 12. Section 1. Whenever any number of persons not less than five, residents of the ter- ritory, may desire to become incorporated as a mutual building, loan and homestead association, for the purpose of loaning money to the members thereof only, and for building and improving homesteads, they shall make a statement to that effect, under their hands and seal, duly acknowledged before some officer in the manner provided for the acknowledgment of deeds, such statement shall set forth the name of the proposed corporation, its capital stock, its location, and the duration of the corpora- tion, which statement shall be filed in the office of the clerk of the probate court of the county in which the principal place of business of the corporation is located. The clerk of said court shall thereupon issue to such persons a license as commis- sioners to open books for subscription to the capital stock of said corporation at such time and place as they may determine, but no license shall be issued to two associations having the same name. Sec. 2. As soon as fifty shares or more of the capital stock shall be subscribed, the commissioners may convene a meetiug of the subscribers for the purpose of electing directors, officers, adopting a charter and bylaws and the transaction of such other business as shall como before them. Notice shall be given by depositing in the post office, properly addressed to each subscriber, at least ten days before the time fixed a written or printed notice, stating the objocts, time and place of such meeting. The number of directors and the number and kind of officers of corporations organized under this act, with their respective qualifications and term of office and the time and manner of their election, removal and resignation shall be as agreed or staled in the charter and bylaws. Sec. 3. The commissioners shall make a full report of their proceedings including therein a copy of the notice provided for in the foregoing section ; a copy of the sub- CHAPTER VI. GENERAL LEGISLATION UTAH. 693 scription list, a copy of the charter and bylaws adopted by the association, and the names of the directors and officers elected, and their respective terms of office, which report shall be sworn to by at least a majority of the commissioners, and shall be filed and recorded in the office of the clerk of the said probate court, said clerk shall thereupon issue a certificate of the complete organization of the corporation, mak- ing a part thereof a copy of all papers filed in his office in and about the organiza- tion of the corporation, including a copy of the license issued as provided for in sec- tion 1 of this act, and duly authenticated under his hand and seal of said court, which certificate and papers shall be filed in the office of the secretary of the terri- tory, who shall thereupon issue to said association a certificate of incorporation under the great seal of the territory in the manner and form prescribed in section 14 of this act which certificate of incorporation shall be evidence of the due incorpora- tion of the association. Upon the issuance of such certificate of incorporation, the corporation shall be deemed fully organized and may proceed to business, and unless such company shall be organized and proceed to business as provided in this act within two years after the date of such license, the license and all proceedings there- under shall be void. Sec. 4. Corporations formed under this act shall be bodies corporate for the period of not less than ten, nor more than fifty years, may sue and be sued ; may have a. common seal which they may alter or renew at pleasure Sec. 5. The corporate powers shall be exercised by a board of directors elected by and from the stockholders at their annual meeting who shall qualify as required by section 2270 of the Compiled Laws of Utah 1888. Provided, the number of directors shall not be increased or diminished, nor the term of office changed, without the consent of the owners of two-thirds of the shares of stock. The officers of the com- pany shall consist of a president, a vice-president, a treasurer, and a secretary, who shall be elected by the stockholders at such annual meeting from the members of such board and as provided in the charter or bylaws of the association. Provided; further that the secretary only shall be entitled to such compensation as may be determined by the board of directors, And provided, further that the treasurer and secretary shall give bonds, with at least two sufficient sureties to be approved by the board of directors, which shall be filed with the clerk of said court. Sec. 6. The shares of stock shall be one hundred dollars each, and shall be tteemed personal property transferable upon the books of the company in such manner as may be provided by the bylaws, and subscriptions therefor shall be made payable to the corporation and shall be payable in such periodical instalments, and at such time or times as shall be determined by the charter and bylaws; but no periodical payment to bo made exceeding two dollars on each share; and every share of stock shall be subject to a lien for the payment of unpaid instalments and other charges incurred thereon under the provisions of the charter and bylaws and the bylaws may prescribe the form and manner of enforcing such lien. New shares of stock may be issued in lieu of shares withdrawn or forfeited and the.stock may be issued in one or in several successive series as may be provided in the charter and by- laws, and in such amount (not to exceed the total capital stock) as the board of directors may determine, and any stockholder wishing to withdraw from the said corporation, shall have power to do so by giving thirty day's notice of his intention to withdraw, when he shall be entitled to receivo the amount paid in by him, and such interest thereon or such proportion of the profits thereon as the bylaws may determine, less all fines and other charges. Provided; that at no timo shall more than one-half of the funds of the treasury of the corporation be applicable to the demands of withdrawing stockholders without the consent of the board of directors, and that no stockholder shall be eutitled to withdraw whose stock is held by the association in pledge for security. Upon tho death of a stockholder, his legal rep- resentative shall bo entitled to receive the full amount paid in by him on all shares not borrowed upon or pledged to the association as collateral security and legal 694 REPORT OP THE COMMISSIONER OP LABOR. interest thereon, first deducting all charges that may bo due on the stock ; but no fines shall be charged to a deceased member's account from and after his decease unless the legal representatives of such decedent assume the future payment of the dues on the stock. Sec. 7. Married 'women may become subscribers to the capital stock of such asso- ciation, and hold, control and transfer their stock in all respects as femme sole, and their stock shall not be subject to the control of, or liable for the debts of their husbands. Minors may become subscribers to and owners of the stock of such asso- ciations by guardian or trustee, and such guardian or trustee may 'withdraw the stock of such miner as provided in section 6, of this act. Provided : however that such guardian or trusteo shall give bonds to the probate court in double the amount of the withdrawal value of such stock for the use of such minor. Sec. 8. The board of directors shall hold such stated meetings at least once a month as may bo provided by the bylaws at which the money in the treasury, if one hundred dollars or more, shall be offered for loan in open meeting, and the stock- holder who shall bid the highest premium for the preference or priority of loan and comply with the provisions of the bylaws, respecting the awarding of loans, shall bo entitled to receive a loan of one hundred dollars, less the premium bid, for each share of stock held by said stockholder. Provided: that no loan shall be made by said corporation except to its own members, nor in any sum in excess of the amount of stock held by such members borrowing: And provided that such stockholder may borrow such fractional part of one hundred dollars as the bylaws may provide. Good and ample real estate security, unincumbered except by prior loans of such associations shall be given by borrower, to secure the repayment of the loan. Pro- vided: however that tho stock of such association may be received as security to the amouni of withdrawal value of such stock. Sec. 9. In case the borrower shall neglect to offer security, or shall offer security that is not approved by the board of directors by such time as the byhiws may pre- scribe, he' shall be charged with one month's interest together with any expenses incurred, and the money may be resold at the next stated meeting. In case of non- payment of instalments interest or fines by borrowing stockholders for the space of six months, payment of principal and interest and fines without deducting the pre- mium paid or the interest thereon, may be enforced by proceedings against their securities according to law, upon the order of the board of directors. Sec. 10. A borrower may repay a loan at any time upon duly complying with the charter and bylaws in relation to repayment of loans. Sec. 11. Corporations organized under this act being of the nature of cooperative associations, therefore no premium, fines, nor interest, on such premiums that may accrue to the said corporation according to the provisions of this act, shall be deemed usurious and the same may be collected as other debts of like amount are collected by law, in this territory. Sec. 12. No corporation or association created under this act shall ceaso or expire from neglect on tho part of the corporation to elect officers at the time mentioned in their charter and bylaws and all officers elected by such corporations shall hold their offices until their successors are duly elected and qualified. Sec. 13. Any loan or building association incorporated by or under this act is hereby authorized and empowered to purchase at any marshal's, sheriff's or judicial sale, or at any other sale public or x^rivato any real estate upon which such associa- tion may have or hold any mortgage, lien or other encumbrance and to sell, con- vey, lease or mortgage at pleasure to any person or persons whatever the Teal estate so purchased, but such association shall not have power to enter into as a business the buying and selling of real estate. Sec. 14. The certificate of incorporation shall be substantially in the following form: CHAPTER VI. — GENERAL LEGISLATION — VIRGINIA. 695 CEKTIF1CATE OF INCORPORATION'. The Secretary of the Territory of Utah; to all to whom these presents shall come greeting: Whereas, a statement, duly signod and acknowledged, having been filed and recorded in the office of the clerk of the probate court of the county of ter- ritory of Utah, on the day of • A. D. for the organization of building and loan association of under and in accordance with the provisions of "An act to enable associations of persons to become a body corporate to raise funds to bo loaned only among tho members of such associations" approved the day of , a certified copy of which has been filed in my office; and whereas, a license having been issued to as commissioners to open books for subscription, to the capital stock of said company; and whereas; tho said loan commissioners having on the day of A. D. ■ filed in the office of the clerk of said court, a report of their proceedings under said license in accordance with the requirements of the statutes, a copy of which license and report has been also filod in my office. Now theroforo I secretary of the territory of Utah, by virtuo of the powers and duties vested in me by law, do hereby certify that the said ■ ■ building and loan association of is a legally constituted and organized corporation under tho laws of this territory. In testimony whereof, I hereunto subscribe my name [and] affix tho seal of said territory. Done at this day of A. D. . [GREAT SEAL.] • , Secretary of the Territory of Utah. VERMONT. The laws of this state contain no general legislation relating especially to build- ing and loan associations. VIRGINIA. ACTS OF 1893-'94. Chapter 516. Section 1. Any number of persons, not less than five, may hereafter form a build- ing and loan association for tho purpose of encouraging industry, frugality and home building and saving among its members, upon being incorporated as provided in section eleven hundred and forty-five [general provisions concerning corpora- tions] , Code of Virginia. Building and loan associations formed under this chapter, or heretofore chartered or incorporated under said section, or by any general or special act, or formed or incorporated under tho laws of any other state, which have complied with tho laws of this state, shall havo tho right to lend to tho stockholders or to other persons tho moneys accumulated from time to time and the right to pur- chase land or erect houses, and to sell, convey, lcaso or mortgage the same at their pleasuro to their stockholders or others for tho benefit of their stockholders. Such association may acquire, hold, convey and incumber all or any property, real or personal, taken by them as security or otherwise acquired by them in the due course of business ; and may also socuro tho payment of loans and the performance of the conditions upon which loans are made, and the payment of the purchase money for any property sold by taking personal security, or by a mortgage or deed of trust upon real or personal property and by a transfer and pledge of its stock. Such associations shall have the power to establish and maintain, by their officers and agents, branch offices for the transaction of their business at as many places as may bo desirable. Sec. 2. It shall bo lawful for every such association or company to fix by its bylaws the premiums or bonus at which it will dispose of the money in its treasury 696 REPORT OP THE COMMISSIONER OP LABOR. to its stockholders, and award or lend to any member or stockholder the value of any shares held by him, less such premium or bonus, and the mode of making the disposal, loan or award shall bo fixed by the bylaws, and to charge and receive said premium in advance or in instalments, or in default of application for said money by stockholders it shall bo lawful for such companies or associations to lend the same to other persons on such terms a? may be agreed upon and in such manner as may be fixed by the bylaws. Sec. 3. Every association may levy, assess and collect from its stockholders dues or payments upon every sharo of its stock, the amount, time and manner of pay- ment of the same to be fixed by the bylaws, and the said stock may bo paid off and retired as the bylaws shall'direct; and may levy, assess and collect from members to whom loans have been made interest upon tho par valuo of the shares redeemed; and may levy, assess and collect fines for tho non-payment of dues or for failure to comply with or perform any other obligation or duty to tho association. The amount of tho respective fines shall bo fixed by the bylaws, and they shall be imposed under regulations to be mado by the bylaws. Sec. 4. A borrower from such associations may repay the loan at any time; but in caso of the repayment thereof before tho maturity of the loan the borrower shall pay such, an amount for the privilege as may have been agreed upon or is provided for in the bylaws; and there shall be refunded to such borrower, in case the pre- mium shall have been deducted in advance, such proportion of tho premium bid as tho bylaws may determine. Stockholders withdrawing voluntarily shall receive such proportion of the profits of the association or such rate of interest as may be prescribed by the bylaws. Sec. 5. Every such association shall adopt bylaws for its government and the management of its business not inconsistent with this act. Chapter 633. Section 1. No building and loan association or company shall be allowed to con- duct any business or solicit the sale of stock or offer to lend money in this state without having first obtained a license therefor by payment of tho tax herein speci- fied, nor shall any person act as r.n agent for such company, incorporated in this or any other state, unless the company he represents has obtained a license in accord- ance with this act. Sec. 2. Tho specific license tax upon every such company or association for the privilege of doing any business in this state shall be fifty dollars, provided tho cap- ita] of such company actually paid in, whether from paid-up stock or partially paid stock, is not less than twenty-fivo thousand dollars; if the capital paid in is twenty-fivo thousand dollars and not more than fifty thousand dollars, the tax shall bo seventy-five dollars ; if tho capital paid in is not less than fifty thousand dollars nor more than one hundred thousand dollars, tho tax shall be one hundred dollars ; if tho capital paid in is not loss than one hundred thousand dollars nor more than one hundred and fifty thousand dollars, tho tax shall be one hundred and twenty-five dollars ; if tho capita] paid in is not less than one hundred and fifty thousand dollars nor moro than two hundred thousand dollars, tho tax shall be one hundred and fifty dollars; if tho capital paid in is not less than two hundred thou- sand dollars nor moro than three hundred and fifty thousand dollars, the tax shall be one hundred and seventy-five dollars ; if the capital paid in is four hundred thousand dollars, the tax shall bo two hundred and fifty dollars, but on capital exceeding four hundred thousand dollars tho tax shall be fifty dollars for each additional one hun- dred thousand dollars thereof: And provided that as to any non-resident building company or association doing business in this state, and which has otherwise com- plied with the laws of Virginia, shall pay tho license tax under this act upon the capital invested by such company in this state. It shall be the duty of each asso- CHAPTER VI. — GENERAL LEGISLATION — WASHINGTON. 697 ciation on the first clay of April of each year, or -within ten days thereafter, to make a report in writing, under oath of its chief accounting officer or agent, to the com- missioner of revenue for the district in which the principal office or agency ia situ ated, of the amount of the capital of said association as provided in this act. Any association or agent doing business in this state without having first obtained a license therefor shall pay a fine of not less than fifty nor more than five hundred dollars. The shares of any building fund company which has been assessed with and has paid the specific tax provided for in this bill shall not be taxable in the hands of the holder, nor shall any additional tax be imposed upon the capital of the said companies. And it is provided that no city or corporation shall impose a greater tax than is provided by this bill, which tax can only bo levied where the principal office of tho company is located : it is further provided that upon any company doing business on a purely mutual plan and whose business is confined solely to the city or county where organized tho tax shall bo fifty dollars. "WASHINGTON. HILL'S ANNOTATED STATUTES AND CODES OF 1891. Volume I. — Genekal Statutes. Section 1599. Whenever any member [number] of persons not less than ten desire to be incorporated as a building and loan association for the purposo of accumulating the savings and funds of its members and lending them only the funds so accumulated, they shall make and execute a written declaration to that effect in the form now pro- vided by statute for tho execution of deeds of real estate, to entitle tho same to record. Said declaration shall state tho name of such association, its principal place of busi- ness, which shall bo within this state, tho limit of capital to be accumulated, the time of its duration, tho names and places of residence of such persons, and that it is organized under this chapter for tho purposo herein expressed. When so executed said declaration shall be filed and recorded in the office of the secretary of state, whereupon such officer shall issue a copy of such declaration under his certificate, in proper form, setting forth tho time and place of filing and recording thereof in his office, which declaration and certificate shall thereupon bo recorded in tho office of tho recorder of deeds of the county where such association is located, and published onco in a daily or weekly newspaper, printed and published and of general circula- tion in said county. Upon complying with the foregoing requirement, and upon filing an affidavit of proof of such publication in the office of the secretary of state, the persons executing such declaration, their associates and successors, shall become a corporate body. Sec. 1600. The name shall not bo the same as, nor too closoly resemble that in use by any existing corporation established under the laws of this state. Tho words " building and loan association," or " savings and loan association," shall form a part of the name, and no corporation not organized under this chapter shall be entitled to use a name embodying either [of] said ccmbination[s] of words; Provided, that associations now existing may continuo their present names. Sec. 1601. Each association shall adopt bylaws for its government, and therein describe tho manner in which its business shall be transacted, which bylaws shall bo in conformity with the provisions of this chapter and tho laws of this state, and at all times bo open to the inspection of the state auditor, and the members of the association at its home office. All bylaws shall bo subject to the approval of the state auditor before going into effect, and every corporation heretofore organized and brought under the provisions of this chapter shall, withiu sixty days from the passage hereof, present its bylaws to said auditor for approval, and in case any pro- vision in such bylaws shall be contrary to tho provisions of this chapter or t« tho laws of this state, or be detrimental to the interests of the members of suck 698 REPORT OF THE COMMISSIONER OP LABOR. organization, or against public policy, lie may, under the advice and consent of the attorney general, require the same to he stricken out. Sec. 1602. For every loan made, a note non-negotiable or bond secured by first mortgage on real estate shall be given, which security shall be double the value of the loan, and satisfactory to the directors, and shall he accompanied by a transfer and pledge of the shares of the borrowers to the association. The shares so pledged shall be held by the corporation as collateral security for the performance of the conditions of said note or bond and mortgage; Provided, that the shares, without other security, may, in the discretion of the directors, be accepted as security for the loans for an amount not exceeding their withdrawal value as provided by this chap- ter. Sec. 1603. Any such association may purchase at any sale, public or private, any real estate upon which it may have a mortgage, judgment, lien, or other encumbrance, or in which it may have any interest, and may sell, convey, lease, or mortgage the same at pleasure to any person or persons, but shall not otherwise acquire or deal in real estate ; Provided, that any such association may acquire any leasehold interest necessary for the transaction of its business. / Sec. 1604. Every building and loan association heretofore or hereafter incorpo- rated under the laws of this state, and governed by this chapter, shall deposit and keep with the state auditor, or with a duly chartered trust company of this state, apvjroved by. the state auditor, in trust for all its members and creditors, all mort-. gage or other securities received by it in the usual course of business. When depos- ited with a trust company, such company shall certify to the state auditor the posses- sion of such securities, and the same shall not be surrendered without the authority or sanction of the state auditor; Provided, that every such corporation hereto- fore organized not having or owning mortgage or other securities to the amount of twenty-five thousand dollars shall deposit with the state auditor additional securi- ties, to make, with the securities so owned and deposited, equal in value to said sum of twenty-five thousand dollars, and every such corporation hereafter organized under this chapter shall deposit and keep with the state auditor, in trust, as afore- said, securities of the value of twenty-five thousand dollars before commencing to do business. The securities mentioned in this proviso shall consist of bonds or treasury notes of the United States or national bank stocks, or bonds of this state, or any other state of the United States, or of any solvent city, county, or town of this state, or any other state of the United States, having a legal authority to issue the same, and such securities may be withdrawn, from time to time, when mortgage securities of corresponding value shall be deposited, as provided in this chapter, or when other securities of like character are substituted therefor; and it shall be the duty of the state auditor, from time to time, to examine said associations, to ascer- tain whether all its securities are deposited, as required by this chapter; Provided, that whenever required by laws of any other state, territory, or nation, all securi- ties taken in such state by any association organized under the laws of this state, and subject to the provisions of this chapter, may be deposited with some officer authorized to receive the same in such stato under the laws thereof, for the benefit of its members and creditors; but in every such case a certificate of such deposit, showing the amount and character of such deposit, shall bo filed with the auditor ot this state, and renewed annually, together with a statement, verified by the affida- vit of some officer of such association who has knowledge of the facts, showing all of the securities taken by such association in such 6tate at the time of the filing of such certificate; and in case any securities taken in any such state are not deposited there, then the same shall be deposited here, as required by this chapter. Sec. 1605. All interest, and dividends, and premiums, which may accrue on securi- ties held by the state auditor, or such trust company as provided for herein, and all dues or monthly payments which may become payable on stock pledged as security' for loans, the mortgages for which are so deposited in accordance with the provisions CHAPTER VI. — GENERAL LEGISLATION — WASHINGTON. 699 of this chapter, may be collected and retained by the association depositing such securities or mortgages, so long as such association remains solvent, and faithfully performs all contracts -with its members, and when any mortgage shall have been fully paid to said corporation, the same may be surrendered by said state auditor, or under his order, upon filing with him a certificate of the auditor of the county where the real estate is situated, to the effect that the satisfaction of such mortgage has been filed for record, or in case no mortgage was taken, then the affidavit of the secretary or treasurer of said corporation showing judgment. Any mortgage upon which default has been made may be surrendered as aforesaid, upon filing with the state auditor an affidavit sworn to by the president and secretary of the association owning the samo, stating that such mortgage is in default, and that it is withdrawn for the purpose of foreclosure. Sec. 1606. No building or loan association organized under the laws of any other state, territory, or nation shall do business in this state unless such association shall havo securities of the value of one hundred thousand dollars, and of the character mentioned in this chapter, ori deposit in trust for all its members and creditors with some responsible trust company, duly incorporated under the laws of such state or territory in the United States, or with seme authorized officer of this or some other state of the United States; Provided, that foreign companies now doing business in this state shall have until August first, A. D. eighteen hundred and ninety, to deposit the last one-half of the required one hundred thousand dollars. Certificate of such deposit shall be made to the auditor of this state, certifying the possession of such securities, which shall not thereafter be surrendered without the authority or con- sent of the auditor or othex authorized officer of the state or territory in which said company is incorporated; And provided further, that all such foreign companies shall make a deposit of their mortgages and other securities taken in this state, in the same manner and amount, and for the same purpose, as provided for home compa- nies in section sixteen hundred and four of this volume of general statutes. Sec. 1607. Every building and loan association organized under the laws of any other state, territory, or nation shall, before commencing to do business in this state, — 1. File with the state auditor of this state a duly authenticated copy of its char- ter or articles of incorporation; 2. File with the state auditor of this state the certificate of the authorized officer of another stato showing that securities of the value of one hundred thousand dollars are on deposit with such state officer or duly incorporated trust company, in trust for all the members and creditors of such building and loan association; 3. File with the auditor of this state a duly authenticated copy of a resolution adopted by the board of directors of such association, stipulating and agreeing that if any legal process affecting such association be served on such examiner, and a copy thereof be mailed, postage prepaid, by the party procuring the issue of the same, or his attorney, to said association, addressed to its home office, then such ser- vice and mailing of such process shall have the same effect as personal service on said association in this state, and also an agreement that said association will not remove any action commenced in any state court of this state against the same to the United States court, and will pay every judgment that may be taken against it upon any such action within sixty days after the final judgment shall have been entered ; 4. Pay to the state auditor twenty-five dollars as fees for filing the papers men- tioned in this section. Sec. 1608. When process against or affecting any foreign building and loan asso- ciation is served on the state auditor, the sjime shall be by duplicate copies, one of which shall be filed in the office of the state auditor, and the other by him immedi- ately mailed, postage prepaid, to the home office of said association. Sec. 1609. The word "process," in this chapter, shall include any writ, declara- 700 REPORT OF THE COMMISSIONER OF LABOR. tion, summons, or order whereby any action, writ, or proceedings shall be commenced, or which shall be issued in or upon any action, suit, or proceeding authorized by law in this state. Sec. 1610. Services of process, according to a stipulation provided in section six- teen hundred and seven of this volume of general statutes, shall be sufficient per- sonal service on the association filing such stipulation. Sec. 1611. When, by the laws of any other state, territory, or nation, any taxes, fines, penalties, licenses, fees, deposits of money, or securities, or other obligations or prohibitions, are imposed on building and loan associations of this state, doing business in such other state, territory, or nation, or upon their agents therein, so long as such laws continue in force, the same obligations and prohibitions, of what- ever kind, shall be imposed upon all building and loan associations of such other state, territory, or nation doing business in this state, and upon their agents here. Sec. 1612. Any building and loan association organized under the laws of any other state or territory that shall remove any action that shall be commenced against it in a court of this state to the United States court, or that shall fail to pay any judgment rendered against it upon a suit in any court of the state within sixty days after the rendering of final judgment in such case, or that shall fail to make yearly statements to the state auditor, as hereafter mentioned, or statements of the amount and value of its stock held in this state, as hereafter required, or to pay the fees of the state auditor as provided in this chapter, or to do any other act required in this chapter to be done and performed, shall, upon failure or violation of the provisions of this chapter, have no right or authority to do or transact any further business within the limits of this state, and the state auditor shall thereupon cause notice of the termination of such authority to do business to be mailed to such corporation and to be published in some newspaper of general circulation at the capital of the state, and shall communicate the facts to the attorney general of this state, who shall institute such proceedings in the matter as the case may require; Provided, any such corporation may be again authorized to commence business in this state upon such terms as the state auditor may deem just and proper, and upon full com- pliance with the provisions of this chapter. Sec. 1613. All building and loan associations hereafter incorporated in this state shall have an authorized capital of two million dollars at the time of the incorpora- tion. Sec. 1614. Any building and loan association heretofore or hereafter incorporated under the laws of this state may at any time increase the amount of its capital stock, or amend its articles of incorporation in any other respect, by a vote of at least three-fourths of its board of directors ; Provided, that no such increase shall be made unless three-fourths of the capital stock previously authorized has actually been issued, and the amount of increase made at any one time shall not exceed the amount issued previous to the time of such increase. Sec. 1615. "Whenever any building and loan association increases its capital stock, or otherwise amends its articles of incorporation, as provided in this chapter, a copy of the resolutions of the board of directors making such increase or other amendment, duly verified by oath of the president and secretary of such associa- tion, shall be filed in the office of the auditor of the county in which the home office of said association is located, and in the office of the secretary of state, and be pub- lished four successive times in the same daily or weekly newspaper published at the capital of the state, or in the county where the association has its homo office. Proof of such publication shall be filed in [the] office of the secretary of state. Sec. 1616. On or before the first day of Soptember in each year every building and loan association doing business in this state shall deposit with the state auditor a report of its affairs and operations for the year ending on the thirtieth day of June immediately preceding. Such report shall be verified under oath by the presi- CHAPTER VI. GENERAL LEGISLATION — WASHINGTON. 701 dent and secretary, or by three directors of the association, and shall contain answers to the following questions : — 1. The amount of authorized capital, and the par value of each share of stock ; 2. The numher of shares sold during the year ; 3. The number of shares cancelled and withdrawn during the year; 4. Number of shares in force at the end of the year; 5. A detailed statement of receipts and disbursements during the year; 6. A detailed statement of tho assets and liabilities at the end of the year, and shall pay to the stato auditor a fee of twenty-five dollars on filing such report. If any such association shall fail to furnish to the auditor of the state any report required by this chapter, at tho time so required, it shall forfeit the sum of twenty- five dollars per day for every day such report shall be delayed or withheld; and the auditor may maintain an action in his name of office to recover such penalty, and the same shall bo paid into tho treasury of the stato and applied to tho expenses of the department of said auditor. After receiving such report, the auditor, if satisfied that such corporation has complied with all the provisions of this chapter, and is entitled to do business in this state, ho shall issue his certificate stating the com- pliance with such provisions, and that [such] corporation is entitled to do business in this state, which certificate shall bo in force for the period of one year, unless sooner rescinded, as provided iu this chapter. Such certificate shall also be issued to any foreign corporation authorized to do business iu this stato after complying with tho conditions of section sixteen hundred and seven of this volume of general statutes, and shall bo in force until tho time herein required for such annual report. Sec. 1617. It shall be the duty of such state auditor, at least once in each year, and as often as he may deem necessary, to assume and exercise over every building association incorporated under tho laws of this state, its business, officers, directors, and employe's, all the power and authority conferred upon him over banks and other moneyed corporations under the laws of this state; Provided, he shall not have the power to suspend the operation of any association, except in the manner pro- vided in the next succeeding section. Sec. 1618. If it shall appear to the said state auditor, from any examination made by him, or from any report of any examination made by him, or from the annual report aforesaid, that said corporation is violating its charter or the law, or that it is conducting business in any unsafe, unauthorized, or dishonest manner, he shall, by an order under his hand and seal of office, addressed to such corporation, direct conformity with the requirements of its charter and of the law ; and whenever such corporation shall refuse or neglect to make such report or account as may be law- fully required, or to comply with Such order as aforesaid, or whenever it shall appear to the said auditor that it is unsafe or inexpedient for any such corporation to continue to transact business, he shall communicate the facts to the attorney general, who shall thereupon be authorized to institute such proceedings against any such corporations as aro now or may hereafter be provided by law in the case of insolvent corporations, or such other proceedings as the occasion may require. And if such corporation shall havo been organized under the laws of any other state or territory, tho said attorney general shall, upon receiving such communication, if in his judgment the facts in the case are sufficient to warrant such action, give notice to such corporation that it is no longer authorized to do business in this state, by depositing such notice in the post office, properly sealed and stamped, addressed to the said corporation at its principal office in the state where incorporated, and thereupon said corporation shall cease to have any right in this state, and said notice may bo published in the manner as provided in section sixteen hundred and twelve of this volume of general statutes. Sec. 1619. All officers of any building and loan association governed by this chapter and doing business in this state, who sign or indorse checks, or handle any of the funds of such association, shall give bonds or fidelity insurance for the faith- 702 REPORT OF THE COMMISSIONER OE LABOR.. ful performance of their duties as tho board of directors may require, and no such officer shall be deemed qualified to enter upon the duties of his office until his bond is approved by the board of directors and the state auditor, with whom such bonds shall be filed ; Provided, that tho state auditoT may require of any association, at any time, such increase of said bond or additional sureties thereto, or such increase of said insurance, as ho may deem necessary for the protection of the members. The penalty for a failure of any association to file and maintain the bonds and poliey as required by the provisions of this section shall'be a fine of one hundred dollars for each day such association transacts business after such bonds have become due under the provisions of this chapter. Said bonds or policy shall be held in trust for the benefit and protection of the members of such association, and shall be enforceable by any member whenever cause of action shall accrue thereon. Sec. 1620. The name "building and loan association," as used in this chapter, shall include all corporations, societies, organizations, and associations doinga saving and loan or investment business on the building society plan, whether neutral or other- wise, and whether issuing certificates of stock which mature at a time fixed in advance or not. Sec. 1621. Any officer, director, or agent, or [of] any foreign building and loan association, or any other person whomsoever who shall, in this state, solicit sub- scriptions to the stock of such association, or who shall sell or issue, or knowingly cause to be sold or issued, to a resident of this state any stock of such association while such association shallnot have had the certificate of the state auditor author- izing it to do business in this state, as herein prescribed, or has not deposited, as required by this chapter, securities of the value and at the times herein prescribed, or before said association has complied with all the provisions of this chapter, or when said association shall have been notified and required to discontinue business in this state, as hereinbefore provided, shall be guilty of a misdemeanor, and upon conviction thereof shall be punished by a fine of not less than one hundred dollars nor more than five hundred dollars, or by imprisonment of not less than ten days nor more than six months, or both such fino and imprisonment, in the discretion of the court. Sec. 1622. Any officer, director, or agent of any building and loan association incorporated under the laws of this state, or any other person whatever, who shall sell or issue, or knowingly cause to be sold or issued, to any person not a resident of the county in which the home office of said association is located, or in the counties immediately adjacent thereto, any stock of said association while said association does not have on deposit with the state auditor, as required by this chapter, securi- ties of the value and at the time herein prescribed, or while such association shall not have the certificate of the public examiner, authorizing it to do business as herein proscribed, shall be guilty of a niisdemeanor, and upon conviction thereof shall be punished by a fine of not less than one hundred dollars and not more than five hun- dred dollars, or by imprisonment of not less than ten days nor more than six mouths, or both such fino and imprisonment, in the discretion of tho court. Sec. 1623. Any premiums taken for loans mado by any association governed by this chapter shall not be considered or treated as interest, nor render such association amenable to the laws relating to usury. Sec. 1624. Every such association heretofore organized under tho laws of this state, or incorporated under this chapter, is hereby prohibited from hereafter creating or issuing any preferred or non-contributing stock; but this section shall not prevent the issue of different series of stock. Sec. 1625. Any shareholder whoso stock has not been declared forfeited in such association, and whoso share or sharos are not pledged upon a loan, may withdraw such share or shares from the association at any time after one year, by giving at least sixty days' notice in writing to the secretary of his intention to do so. Upon receipt of such notice, the same may be considered a withdrawal by such person, and CHAPTEE VI. GENERAL LEGISLATION — WASHINGTON. 708 the association may, within sixty days, dispose of said stoek, and the members shall assign them for thut purpose. At the end of said sixty days the association shall pay to the members so surrendering as, follows : If said stock is more than two years old, all amounts paid in by such members upon such stock, except the sums paid as mem- bership fees and fines, and the amount set apart upon such shares by said associa- tion as an expense fund, which expense fund, however, shall not exceed the amount fixed in this chapter; if said stock is more than two years old, the member, upon such surrender, shall receive, in addition to the amount above specified, at least three- fourths of all profits standing to the credit of such shares; Provided, that not more than one-half of the monthly instalments received by such association for any month shall be used to pay withdrawals without consent of the board of directors. Sec. 1626. Whenever any such association shall declare any of ita stock forfeited for non-compliance of the holder with any of its laws or regulations, the said stoek shall, if one year old, bo sold by said association at a monthly meeting thereof to the highest bidder, and it is made the duty of such association, at any such sale, to bid in the stock so offered at its then withdrawal -value, and thereupon said stock shall be cancelled ; but, if a higher bi d i3 received, the person making the highest bid shall have such stock assigned to him, and upon such sale, said association shall pay to the member so forfeiting his stock the withdrawal value thereof as fixed in the next preceding section of this chapter, less all fines and arrearages against him. Sec. 1627. Upon the death of a stockholder in any such association, except in cases where the stock matures at a fixed and definite time as aforesaid, his heirs or per- sonal representatives shall, upon giving sixty days' notice to the association, receive from such association the then withdrawal value of his shares, agreeable to the provisions of section sixteen hundred and twenty-five of this volume of general statutes. Sec. 1628. Every such association shall provide in its bylaws in what manner applications and bids for loans shall bo received and who shall be entitled to loans thereunder; such bids shall be opened at stated times, and all the money in the loan funds shall be loaned upon such bids ; Providing, that the securities shall be in the amount and of character stated in this chapter, and the amount bid shall not be less than the rate for any logal indebtedness under the laws of this state, the object of this scctionbeing to prevent such association from retaining in its loan fund any mon- eys actually bid for, for the purpose of securing better bids or inducing the bidders to raise their bids, and to compel said association to loan their funds to the highest and best bidders therefor ; Provided, that the provisions of this section relating to bid- dine for loans shall not apply to associations which fix the rate of interest and pre- mium annually, by resolution of the board of directors, at a rate which will keep the money of such association at all times safely invested, and in which the system of bidding is not allowed. Sec. 1629. No association governed by this chapter shall set apart as an expense fund, exclusive of admission fees, to exceed ono dollar per year upon eaeh share of its stock, or assess any fines for non-payment of monthly instalments, or otherwise, in excess of ten cents per share for the first month that the same shall be in arrears, and fifteen cents per share per month for every month thereafter. Sec. 1630. Not more than three of the officers of any such association incorporated under the laws of this state shall be members of the board of directors of such asso- ciation; Provided, that no change shall be required under this section until the next annual meeting of such association. Sec. 1631. All corporations organized in this state and doing business in this or any other state, as building and loan associations, shall comply with and bo subject to all tho provisions of this act within sixty days after its passage, andshall bo enti- tled to all its privileges and benefits thereof without reincorporating ; Provided, that all such companies or associations, organized in the state prior to the passage of the act of which this act is amendatory, shall only be required to deposit all their 704 REPORT OP THE COMMISSIONER OP LABOR. securities in the manner provided by the act of which this act is amendatory, but shall not he required to deposit any other or further securities than are provided by this section as hereby amended. Sec. 1632. This chapter shall not apply to any association organized under the laws of this state which confines its loaning and business operations wholly to its county and the [counties] adjacent and adjoining thereto; Provided, that any such association heretofore incorporated which desires to hereafter confine its business to adjacent counties, as aforesaid, may file with the state auditor a statement to that effect, and also containing the names of those holding, and the amount held by them, of the stock of said association outside such counties, and so loug as such association thereafter confines its sales of stock within the limits aforesaid, it shall not be sub- ject to theprovision[s] hereof, and any sales of stock outside the limits of said coun- ties made after filing all such statements] by any officers, director, or agent of any such association, shall subject such person to all the penalties prescribed in section sixteen hundred and twenty-two of this volume of general statutes; Provided fur- ther, that nothing in this section shall be so construed [as] to prevent the bona fide sale or transfer of the individual stock of any member of such association. Sec 1633. Every such association shall bo assessed for and pay taxes upon its office furniture and fixtures and all real estate acquired in the course of its business, and every stockholder in such association shall be assessed and pay taxes upon the share[s] held by him therein, the value of which said shares for the purpose of taxa- tion shall be fixed at the withdrawal value thereof, as provided in section sixteen hundred and twenty-five of this volume of general statutes, except in case of such associations the stock of which heretofore or hereafter issued shall mature at a fixed tdme, and the value of the shares in any such association of all stocks so issued as aforesaid for the purpose of taxation shall be fixed upon the basis of tho aggregate amount paid in by a member, together with interest at tho rate of six per cent per annum, computed on annual risks. Sec. 1634. It shall be the duty of the secretary of every such association incor- porated under the laws of this state to make out and transmit to the auditor of every county in this state in which said association shall have shareholders, ou the first day of May in each year, a statement containing the names of every person holding stock in such association in such county, and the amount and value of the respective shares of such stock at such date, upon the basis of its value as fixed in this chapter, and any failure to comply with the provisions of this section by any such association shall be deemed sufficient cause for proceedings under this chapter for forfeiture of the charter of the association so offending. The books and papers of every such association shall also be open at all convenient times for inspection by auy assessor desiring to make examination thereof for purposes of taxation; Pro- vided, that no report shall be required under this section upon stock pledged as col- lateral security for a loan, so long as the amount of such loan exceeds the withdrawal vajue of such stock as fixed in this act, and when it shall exceed such value, then only as to such excess. Sec. 1C35. It shall bo the duty of every such association not incorporated under the laws of this state to make and forward to the public examiner, upon the first day of May in each year, a statement containing tho names and tho withdrawal value of all its stock held and owned by residents of this state, together with the place of rcsidenco of every such stockholder, except those having loaus as provided in the foregoing section, and it shall be the duty of tho said state auditor to make out and forward to tho county auditor of the proper counties a statement of the stock held by them ; and it shall be the duty of the said county auditor, upon receiv- ing the statements provided for in this and the foregoing sections, to furnish the assessors of each township in his county having such stockholders with the names of such stockholders, and the value of their stock, as given in such statements, for the purpose of assessment. CHAPTER VI. GENERAL LEGISLATION — WEST VIRGINIA. 705 Sec. 1636. Tho state auditor shall receivo and retain all the fees mentioned in this chapter, and tho same shall l>o in lieu of any allowance of clerk hire made necessary by tho extra labor required by tho provisions of this chapter. Sec. 1637. At least thirty days prior to any annual or special meeting of any such association, a notice, stating tho tirno and placo of such meetings, shall be deposited in the post office at tho headquarters of such association, directed to each member at his address as tho same appears at tho timo on tho books of tho association ; and when so deposited, postage prepaid, shall bo deemed a legal and sufficient notice of any such meeting ; and there shall be attached to and accompany such notice any proposed amendment or amendments to the articles of association, or bylaws of such association, and a statement of any officers to bo elected at such meeting, any mem- ber of such association entitled to vote in person or by proxy. WEST VIRGINIA. CODE OF 1891, THIRD EDITION. ClIAI'TEK 54. Section 2. Such companies [joint stock companies] may be incorporated for the following purposes: * * * 3. For establishing * * * building and loan associations, and transacting tho business properly pertaining thereto. * * * Sec. 25. Any number of persons, not less than nine, may form a building and loan association for tho purpose of encouraging industry, frugality and home building, and saving among its members. Building and loan associations formed under this chapter shall havo tho right and power of loaning to its stockholders thereof, tho moneys accumulated from timo to time, as well as tho right and power to purchase land or erect houses, and to sell, convey, lease or mortgage tho same at their pleas- ure to their stockholders, or others for tho benefit of their stockholders. Such asso- ciations may acquire, hold, convey and encumber all such property, real and personal, as may be taken as security, or may bo otherwise transferred to it in the due course of its business, and may secure the payment of loans and tho performance of the other conditions upon which loans arc to bo mado, or tho payment of the purchase money for any property sold, by taking personal security, or by a mortgage or deed of trust upon real or personal property, cr by a transfer or pledgo of its stock. Sec. 26. Every such association shall havo tho power to provide by its bylaws for selling to the stockholders, who shall bid tho highest premium therefor, the money in thotreasury, or in default of bidders at or above a minimum premium, may award to a member tho value cf any shares held by him less ouch minimum premium; tho minimum premium, and tho modo of making tho award to bo fixed by the bylaws. Or such association may chargo and rcccivo tho premium bid by a stockholder for tho priority of rights to such loans, in periodical instalments; but tho bylaws of every association shall set forth, whether tho premium bid for the prior right to a loan shall bo deducted therefrom in advance, or bo paid in periodical instalments. But whether the premium bo deducted from tho loan, or paid in periodical instal- ments, the transaction shall not bo deemed usurious, although any and all the dues, fines, premium and interest, shall exceed tho legal rato of interest on tho amount of money received by tho stockholders. Sec. 27. Every such association may levy, assess and. collect from its stockholders, periodical dues upon overy share of its stock; the amount of such dues to bo fixed by the bylaws; but no periodical payment to exceed two dollars upon each share; and said stock may bo paid off and retired as tho bylaws shall direct; and may levy assess and collect from members to .whom loans havo been mado interest upon the par value of tho shares so loaned; and may levy, assess and collect fines for the non-payment of periodical dues, or for failure to comply with or perform any other obligation or duty to tho association. Tho amount of the respective fines shall be H. Ex. 209 45 706 REPORT OF THE COMMISSIONER OF EABOR. fixed by tho bylaws, .and 'they shall be imposed under regulations io bo made -by the bylaws; but such fines si all be uniform, 432,<433 Hice'srulem tho partnership plan.- 433,434 Second dividend rulo 445, 446 Third dividend rulo." 438 "Wrigley 's rule 436 Plana of withdrawal, consideration of 463-489 Plans:Bhowmg apportionment of .premiums, consideration of _ 385^424 Premium; plans, consideration of - - 385^434 Premium rato, average, charged on real estate loans in certain representative-associations . . . 376-379 Prepaid and paid-up stock, for the United States - - 30 President of the United States, message of tho 5 Profits.and dues, associations classified as to 312-315 Profits and dues, shares, and shareholders 342,343 Profits, plans of distribution of, consideration of 425-461 Profits, special plans of distribution of— Brooks' rule - 449 Clark's plan 432 Bexter'srulo 441 Eldredge plan 439, 440 Partnership plan :432, 433 Hice'srulein the partnership plan ~ :433,434 Second' dividend rule -445, 446 Third dividend rulo - 438 "Wrigley 's rule 436 Kato of interest charged on real estate loans in certain representative associations 372-375 3ftate of premium, average, charged on real estate loans in certain representative associations. 376-379 Real estate loans — associations classified as to total - 300-303 average premium rate charged on, in certain representative associations 376-379 existing, in certain representative associations 366,367 individual, existing in certain representative associations 368-371 number of ■ 33-279 rate of interest charged on, in certain representative associations -372-375 Results, general, for the United States 15 Eico's'plan- of distribution of profits -433, 434 S. Second dividend plan of distribution of profits 445,446 "Serial associations, number of - 280, 281 Series— in force, number of , 282,283 issue of, frequency of 340, 341 issued, number of 282, 283 matured, number of "282, 283 INDEX. 719 Page. Sex and number of shareholders 290, 291 Shareholders— and borrowers, number of 297-299 by sex, number of 33-279 classified by number in the associations 292-294 i n certain representative associations, classified as to occupations 320-323 1 oans to other than 380, 381 number and sex of 290, 291 shares, and dues and profits 342, 343 Shares- allowed to one person, number of 358, 359 held outside of state, number of 288,289 in force, number of - 33-279, 285-287 issued, number of 284-287 matured, number of 284-287 maturing value of 354-357 shareholders, and dues and profits. -..' 342, 343 Special tables 325-383 Special tables, analysis of 327-333 Stock loans, associations classified as to total 308-311 Stock, paid-up and prepaid, for tno United States 30 T. Tables- analysis of general 21-31 analysis of special 327-333 general 19-323 special 325-383 Terminating associations,, number of — 280, 281 Third dividend plan of distribution of profits 438 Transfer fees charged £62-365 Transmittal, letter of 7,8 V. Value, maturing, of shares 354-357 Votes allowed 300, 361 W. "Withdrawal plans, consideration of 403-480 "Wrigley's plan of distribution of profits 436 Date Due - <~ f Cornell University Library HD8051.A3 1893 Building and loan associations. 3 1924 002 402 976 ..iliSiiSllilll MM mm