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T ’ YOL. XX, NO. G. DARLINGTON, S. C., THURSDAY, FEBRUARY 9, 1893. WHOLE NUMBER 941. r i Nvtbi TO BUILD UP SOUTHERN CITIES THROUGH LOCAL Mkl ESTATE BANKS! Dptsr: fatstiZl Fnliiii Pfit Pei Aim. MONEY LOANED FOR 6 1-2 YEARS— INTEREST 6 9-10 PER CENT. PER ANNUM. All Deposits Secured by First Mortgage Upon 60 per cent, of the Va tie of Real Estate (fin ished property,) and for Building Purposes, Apprais ed by Directors Elected by the Depositors. All Deposits Made. Here are Loaned Here, Balance of Money for Loans Forwarded from the North, being a HOME ENTERPRISE backed by FtNeign Capital. A PublicBenefactor. J C BUXTON, J W ALSPAUGH, President, Cashier, C HAMLIN, L W PttrtRAM, V-Pres Asst ( ashier FIRST NATIONAL BANK OF WINSTON. .Winston, N. C., Jau 26, 93. To whom it may concern : Before organizing the Wins ton Local Board, (September 12th. 1892,) of the Eastern Build ing & Loan Association of Syra cuse, N. Y., I thoroughly exam ined its plans of loaning money and its guarantees to the Lives tor of 21 per cent profit per an num, and I am free to say, they are the best and most favorable of any association doing busi ness in this country, in fact, the Eastern is a REALESTATE BANK. gives definite contract maturing the loans and invest ment in 78 months, and allows the Investor or Depositor to withdraw at any time and get back all the money he deposited monthly, (like a bank,) with 6 per cent interest after 6 months up to 2 years; 7 per cent the second year; 8 per cent the third year to maturity, at which time the Eastern redeems the certifi cate and he receives all his mon ey back, with profits equalling 21 per cent per annum. NO OTHER ASSOCIATION WILL DO THIS: They “estimate” the date of maturity and require the In vestor to pay for 6, 12 to 24 months before withdrawals be allowed, and when withdrawn, some associations only return $90.64, $88, and $83., causing the Investor to lose $9.36, $12. or $17. for every $100. paid in. But t K e Eastern upon $100. paid in one year, returns $103. on de mand, making $12.36, $15.00, or $20. in its favor. The causing of $9.36 to $17. loss on each $100. in one year deposited in other associations, has caused wide spread disap pointment and brought the BUILDING AND LOAN BUSI NESS IN BAD REPUTE, but I am happy to say, if fair minded men will in vestigate the Eastern they will readily see its vast superiority over all others and benefit them selves and their community by establishing it to upbuild their city, at the same time affording them an absolutely safe mort gage investment; the Directors of each city approving and re commending to the association to whom they wish their money loaned. I investigated its financial |Btanding and ability to loan. I found it sound, first class in all respects, had complied with all its contracts, everyone (15 ci ties, individuals and financial channels) enquired of being sat isfied with it. It being connect ed with Life Insurance Com panies, having on August 6th. 1892 $540,000 assets and over $758,000, it has SUPERIOR ABILITY TOj SUPPLY LOANS QUICKLY that other companies do not. It Loans Money. $42.38 on each $900 cash, cheaper than oth er prominent associations, and takes mortgage for only the amount loantd and 0 per cent interest, while other companies require mortgage and bond for dcubie the amount loaned. This fact, with it having the loan and interest cut into 78 notes of $15 84 each,paid month ly, and the borrower getting the note as a receipt, when 78 notes are paid, he has 78 receipts, gives him a DEFINITE M0RT-; GAGE BUSINESS and he can sleep sound, but in other associ ations. who can tell HOW MUCH EXTRA COST will be hung on the extra bond he has given over and above the money borrowed and interest ? HE CAN ONLY DEPEND UPON THE ASSOCIATION TO SAY WHEN eVefTtirintr but the EASTERN IS DEFI NITE, and you know before going jjin just when 3 T ou come out, and what it will cost, and it guarantees you against loss, expenses or charg es—over which you have no control—and could oe made or imposed by the Dii ectors(if they desired) of other associations. ThisDEFINITEbusiness makes the Eastern the best and most popular (where-ever it is estab lished) when its plans are un derstood, and I cheerfully re commend it to my friends and the public, because it is the on ly Building and Loan Associa tion I will patronize hereafter. Its establishment will place the BUILDING AND LOAN BUSI NESS IN HIGH ESTEEM AND CONFIDENCE OF WHICH IT IS W0RTHY- on a par with banking—as it has stood the test of nearly 100 years in England and 60 years in America, building up the ci ties and towns, and there has never been a failure of a safely, honestly managed association of this character ; but can we say this of other Financial In stitutions ? The Eastern has complied with all its contracts with its share holders in this city, and we are pleased with it. It LOANED BKRt AT ONE TUI; IN SEPItHBER $29,- 900 It has agreed to loan $10,700. more (which our Board recommended yesterday) making about $40,600. and will loan constantly ns needed, ac cording to its rules. You will find Mr. Carpenter particular in stating nothing but the exact facts as guaran teed by the Eastern’s contract for the borrower and investor, and he is worthy of your confi dence. Very respectfully, J. VV. ALSPAUGH. Syracusk, N.Y.,June 4,91. To the Public: On the 2ith of May last and subsequent days I made a thorough exami nation into the books, conduct and affairs gen erally of the Eastern Building and Loan As sociation of Syracuse, X. Y. I found the books models of neatness and correct in every partial lar. Its system of ac counts is complete and comprehensive and the affairs are in excellent order, thereby reflecting credit on the manage ment which is composed of gentlemen conversant with the detail and con duct of the business, all of whom enjoy the merit ed confidence of the com munity. By actual fig uring / find the shares under its system will ma ture in the timespecified, to wit: Seventy eight (7b) months. With pleasure I recommend this Asso ciation t; the confidence of all. Henry C. Covell, N YState Bank Exm'r. social ion of Syracuse, N.Y. was ^ M mi X. Y., the «„i y established bore on June 26, real responsible one lo-day In 1891, since which time $42 300 tmerieu whlciwiil rultlll its has been loaned, ^einigover $6 to ronlraels in every partieiilar. Your brother, JAS. C. WILLCOX. The sworn rqport filed the Bank Department of York, March, 15th 1892, showed the Eastern's Net Earnings for the First Two Years to be 22-52 PER CENT. PER ANNUM. Had it then liquidated, after paying | tor and member off all liabilities, 21 per cent. would have been stKypholder for $1 paid in by us. $3207 has been withdrawn by investors and were all paid promptly with Interest The Eastern has complied with all its contracts nitli ilssliure holders here. Our share holders are perfectly satisfied with it, and we cheerfully recommend it to all people. It does not pr mise limns and disappoint the borrower, but makes loans promptly when the rules are complied with and title satisfac tory. It has arranged with Life In surance companies in the East ern states, and being located in New York where surplus mon ey exists, its ability for supply ing loans quickly, surpass all Building and Loan associations with which we are acquainted. • A. W. Welling, Sec. and Treas. Local Board of Eastern B. and L. Association 5 ; Sec. and Treas. Darlington Plaining Mill (Jo. We do hereby endorse the written statement of A. W. Welling, secretary and Treasur er of Darlington Local Board : J. J. Ward, Atty. of Darling ton Local Board of Eastern B. and L. Association ; Pres, of j Darlington Land and Improve with ment Co; Director Bank of Dar New | lington. Bright William on, chair- j man appraising committee; | President Bank of Darlington. Jas. C. Willcox, M. D; Direc- of appraising Pee Dee Cot- committee ; Pres, ton Compress Co. E Keith Dargan, President Dueling ton Local Board; Presi- pd* *wmum paid to every the average time the Assbdnuiun-i handled Ins money and $2,203.791 dent Peoples Bank, and Atty at would have remained as a Sur- Law. plus to be divided among thrm. C. S. McCullough, Vicepresi- Is the;o a bank in the world dent Local Board; Pres, of Oil with such a record ? — — « -w — 21 PER CENT PER ANNUM MADE FOR THE INVESTOR, WITHOUT OPPRESSION UPON THE BORROWER. Office of L. HARRILL, Mf’t’r of PLUG AND SMOKING TOBACCO. Statesville,N.C., Jan. 21,93. Samuel Carpenter, Esq., I have calculated on your copyrighted plan for the East ern Building and Loan Associa tion. and have satisfied myself that it is correct. Twenty-one per cent profit can be made for the investor and will not be oppressive on the borrower. $1,000 invested for 78 months under your plan will make $2,074 09, which will pay the investor $1,000, pay off the mortgage of the borrower $1,000 and leave a net surplus of $74.09. Mill. L. S. Welling, member of appraising committee and direc tor; Wholesale hardware, OVER $50,000 LOANED AND TWEN TY-FIVE STORES AND HOUSES ERECTED; MONEY CONSTANTLY COMING TO BUILD UP THIS CITY AND PROVIDE PRIVATE NEEDS. HOME ENTERPRISE. That is What the Local Board of the E. B. & L. Amounts to. [Darlington Nkws, Dee. 22, 1892.] Nearly four columns of this issue of The News are devoted to an account of the plans and workings of the Eastern Build ing and Loan Association of Syracuse, N. Y. This associa tion is undoubtedly one of the strongest and best managed in the United States. It makes Remarkable Progress. ASSETS— Ifaarch 15, 1891 lire,416 02 March 15, 1892 388,272 99 Sept 15‘ 1892 578,879 23 J»n I. 18*08 K711.V2« OO Jan 1, 1892 328,279 32 lucre ise of Assets the I’hmI Year $118,840 08 Average Monthly In crease 34,462 22 Assets incrciiMcil from lice 1,02. !• Jan 1, 08, $37.1U» 10. PROFITS A SURPLUS— March 15, 1891 $ 12,820 46 March 15. 1892 59,209 33 Sept 15, 1892 91,519 32 Jau 1,08 8138,740 00 Jan 1, 1892 46,500 06 Increase of Profits and Surplus Fa«l Year 8 70,348 01 Ratio of lucrcaHe of inset** during the year IN02—3 28 llmea. Ratio of InereiiNe of I’roUlH and VlirplUM for 1892,—t.04 IliueH. Surplus remaining (Janu ary 1, 1892,) over earn ings neeessary to mature stock in 64 years | 1 890 78 Surplus remaining March 15, 1892 2,203 79 While on Jau. I 08 the Surplus was 810.000 Oil INCREASE ;of Sur plus for 1892 $8,109 22 RATIO of INCREASE of SURPLUS for 1892,-5.28 TIMES. likewise t^e Association. NO OTHER ASSOCIATION WILL DO THIS. Thev “ESTIMATE” the TIME and CHARGE you WITH LOSSES, if any, which may prolong the maturity of your mortgage, beyond the “estimated” time, and you are helpless and have NO RE COURSE, because you place your money on “HONOR,” as the Directory of various compa nies have all the power vested in them under the incorporation laws to do with your money as they wish. Will you place a mortgage on your property without a Written Guarantee when it will expire, and what it costs? Do you do so in the Sale of Real Estate? No! You want a mortgage for deferred payments, date of paymentstat- ed, rate of Interest, and power i(> sell if default, then why place a Building and Loan Mortgage on your property wl hout definite written time of maturity stated? IF you DEPOSIT one month ly Instalment with the Associa tions doing business here, and stop, you will lose it AS MANY HAVE DONE IF you DEPOSIT II pay ments in some Loan Associa tions you lose them were not the 12th paid. IF you DEPOSIT in Loan Associations, say $100 in a year and quit, some pay you $83, $88, $90.64, therefore you lose $17, $12 and $9 36 CAN YOU AFFORD TO DO BUSINESS THIS WAY; MORE PAID. MORE LOST? How long would you remain in business? IF you DEPOSIT one month ly instalment in the Eastern, YOU RECEIVE IT BACK AT This was not made off one bor- offers and guarantees which no rower, but a combination of borrowers, and cost the borrow ers 5 9-10 per cent per annum, to wit: the borrower got $900 cash and paid $1,235.52, making $335.52 interest for 6) years. Enclosed please find the re suit of my calculation. Very respect f ully. L. HARRILL, Secy. & Treas. First Building & Loan Association. As the Eastern is a Real Ei >• ta e Bank, loaning money monthly, it is required by New York law to retain the title of a Building and Loan Association,, but in its manner of transact- Roanoke, Virginia. The Eastern’s Earning Re sources Comprise Compound Interest with 9 Other Ac cumulations. The above calculation com prises but four of the earning resources, none of the remaining five revenues being considered. llUfe3W!!Cfft9U3ii;,k, Si;:; W. J. & L. BLAIR, JR., Builder* & Dealers in REAL ESTATE, other association of the kind has ever attempted to make. Its reliability is evidenced by the wav in which it has made loans to the people of Darlington, en abling them to erect twenty- five stores and residences; to accomplish this the association made loans in this place to the amount in round numbers of $50,000. The organization of the “local board” was effected in 1891 and the above record is truly very creditable. This board is comprised of some of the most substantial business men of Darlington. It will be well for parties wishing to have homes of their own, or those who want a good and paying investment, to carefully peruse the article on the first page. Jan 1, 1892, 1st Mortgage loans on 235 houses anil stores, $302,950 00. Sworn value of Securities held by As sociation, $644,570 00. JAN 1, 93, 1st Mortgage loans on491 houses and stores,$665- 000 00. SWORN VALUE of SECURI TIES held by Asssociation, $1,410,000 00. The SECURITY EXCEEDS the amount loaned 2.12 TIMES. Jan t, 1832, Home officers’ and agents' FAP ON DEMAND. bonds for protection of sbarebold „ ’ , , ...... jBWoffice,,' and agen.n’ *« OlkW ASSOCiatlOIl Will Do bonds over 1,500,000 00. Total number of shares issued Jan. 1, 1892, 57,625. TOTAL number of SHARES is sued Jan. 1, 1893,107.764. TOTAL INCREASE of shares issued in 1892, 50,139. MONTHLY INCREASE of shares issued, 4,178. Local Boards organized, 376. This. Th '' Eastern is the only asso ciation givings definite contract to m tture stock and loars in 78 m jnths. The only association requiring the bo rower to ive notes, payable monthly, thus proteC ing him against loss. The only association repaying to the with drawing member all his mo .thly instalments on demand at and above par, thus saving him $9.36. $12, or $17 on each $ 100 paid in first year as compared with other prominent associations. IF you DEPOSIT any num ber of payments up to 2 years you get them back on demand with 6 per cent interest per an num for the average time de posited; 7 per cent the second year; and 8 per cent the third year, with GUARANTEE OF 21 PER CENT PER ANNUM at end 61 years. No Other Association Will Do This, IF you want to BOY a House; IF you want to BUILD a house; IF you want to BUILD a store; IF you want to BUILD a Hotel, Opera House or Tobacco Fac- November 30, 1892. Samuel Carpenter, Esq., Winston, N. C., Dear Sir: Yours to hand and ing business it is distinct from any other, its plan having been copyrighted under the laws of the United States for 17 years, therefore, should predudice, no ted. Will say that the East doubt or suspicion exist against ern Building and Loan Associa any other Association, fair and (t i on 0 f Syracuse, N. Y., has CANDID JUDGEMENT OF BUSINESS loailt . rt $123 ODO in Re- MEN and CAPITALISTS OUGHT TO ||I|| , kc . ,, I.HVC IOH..C.1 U. BE WITH-HELD UNTIL ITS PLANS ■ ...... . ,. BE FULLY UNDERSTOOD, and un- 1 °®® W 'l gladly answer questionable proof in money any letter or telegram to anyone and figures examined proving or hel P ^ astern m wa y IT ABLE to REDEEM its CON . we can for it is a good compa^ tracts as quickly and easily as ny and deserves the support of the Banks in this city combin- the public. ® ur ®> ^ * ed ; and in proof of the charac- VV. J. & L. BLAIR, JK. ter of its Directory, careful con- UfUj^T THINKS OF servattve management, — 1 The EASTERN HAS LOAN ED IN THE SOUTH 0VER, tory . T'350,000. IT HAS LOANED you want to LIFT I in Darling on. 8. C., Ro- uage- anoke, Va., and Winston, N. C., jfy, $215 000 and is prepared to loan $42 38 Cheaper quickly large sums of money to j 0ls ii Loan than cities where branches may be' established, and will loan con stantly. (according to its rules) to upbuild those sections, and provide personal needs for busi- a inert ness purposes. Personal Testimonial. , 92. and ability to comply with its con tracts, the following Teslimi- I — nial of the New York State BanK Examiner was published in the “World,” February 14th 1892 : DARLINGTON, 8 ('., Jan. 29 C. A. and E. T. Willcox, Marion, 8. C., Dear Bros.: This letter will introduce you to Mr. Samuel Carpenter, who represents the Eastern Building and Loan As sociation. He is the same gen tleman who represented the As sociation here a year and a half ago when we organized ours. I THF rgcTrou c &n say that all Mr. Carpenter’s I nC lAj I Lfill. representations to us have been Darlington,-8 C., June 29,’92. carried out in every particular; To Whom it may Concern : and while I have had a good The Darlington branch of the Jeal of experience with these Eastern Building and Loan As-1 associations, I consider the lASTIU If you want to BORROW money on each $900 other Associa tions doing business here, Buy Eastern Stock, AnJ 1 lie I mu ern will Hiippi) You oncy l‘ro:tip| y, (ymiuk ■till l-'i\e hii i ,\iue-teiilh* l*er * cm I merest |*er tiiuuin ami Uaiiraulee (lie t.oau (o . xpire in 7* llontliN, ami Ciiiarautee yon tgiiiiiMi i.ohs by stating the amount you bor rowed and interest in your mort gage; you signing 78 notes, pay ing one note monthly, receiving the note as your receipt, and when you pay the 78 notes you have paid the mortgage and in terest and have the 78 receipts, when the mortgage will he con- celled making it own money IF you DEPOSIT $100 in Eastern in one year,you get hack $103, being $20. or $15. or $12.- 64 MORE ON THE $100 than in some Associations. You can do this kind of busi ness for all time, because you thrive, and you will THANK THE EASTERN for the oppor tunity it offers for investing and saving your money, MAK ING YOU 21 PER CENT PER ANNUM, which NO OTHER BANK IN SOUTH CAROLINA WILL DO, then why not BUY EASTERN STOCK ? and pay $10 cash, and $7.50 monthly for 78.months, making $595, YOU then GET $1,000 and CLEAR $405—21 PER CENT PROFIT per annum. IF you have a VACANT LOT why not borrow money from the Eastern, BUILD A HOUSE, and if rent pay Monthly Instal ment, at end 61 years YOU OWN THE HOUSE FREE OF COST. Is this not good busi ness ? IF you are a RENTER why not buy a lot from the Li n 1 Company, borrow from the Eastern, erect a House, pay monthly the rent you now pay and at the end of 61 years, YoutwnUie House Free of Mortgage, Would you not be a wise and happier man to own your home than throw your away for rent ? ? IS IT NOT YOUR DUTY TO PROVIDE YOUR FAMILY WITH A HOME ? A Definite Mortgase osition, Prep protecting you a borrower 1 TAKE SHARES Hi THE EASTERN. JAND YOU WILL NEVER REGRET IT. Subscriptions for Stock apply to SAMUEL CARPENTER, Special Representative. Or J. D. BAIRD, Micitirn a S'-” 8- CO 4 eq