Casper Daily Tribune Newspaper, May 28, 1920, Page 10

ae et ee en PAGE TEN A conference has been called tonree 5 —— WANTED—Drining contr, The greatest, and only real disad-|ficers of the Casper Mutual Building average borrower. The ayerage borrow | Dr. Kate J. Herner of Sioux City, ‘actor with 4; \vantage from the borrower's standpoint and Loan Association, for thelr e cr is not intrested in the theoret{eallélaims to nave ben the first sransan let aaeee te an the edgiieeling’ coat ato trl Obt Powder River Towra is that having/once taken a loan, he ance and encouragement in our .Wites in the two right hand columns.|cofoner in.the Un.ied States. In 1894/0f organizing ail the enginseting 9880;! Address or apply to Powder niyo i ¢ jmust, to secure the benefit of the|Irankly and avowedly skeptical, and He wants t. «now: First, what is thelshe was elected to the office im Thur- |ciations and societies in the | United site Oil ‘Syndicate, 201 stheoretical net out of hand interest antagonistic—including the committee flat rate of interest that he must pay]ton county, Net Staten nto One en i. Bldg., Casper, Wyo. lrate, tarry bis loan to maturity or|Mmember who is a stockholder in the without regard to. any repayment peace an alternative, pay the full face jassociation—we have been coxvinced scheme; second, what the net rate is mount.of the unearned premium. Thi net Our iirst impressidné ent haveithat he rive pay. ut of his oyn Hana! PSII SS. SII SE. —SEIIIISIII SMT S Sa 2, |provision, howev almbst invariably {been compelled by the : to apply| ‘The maturity will.depen@ upon the 2. |found in the bylaws. of such associa-/the white wash and bring im a com-/average premium bid for seven years tions’ and in its essence entir quit- report which we take pleas-|before the current serjes of shares |ble, for “if a prosperous — borrower'| ure dn) entecnesnersedens starts, ‘fof the year of the series, and jshould be allowed to pay off the net| “Respectfully submitted |for six years or more. after the year of principal of his loan in times of cheap “J. 8. MECHI From the above, it the current series, lis plain that the association affords an lent investment opportunity and no apologies need be made for solicit- ling any one to buy the shares of the | Casper Mutual Building and Loan As- | sociation." | |money, the more needy borrower who | made his loan at the same time would be injured through having the matu- . OGILBE most “D, “The four methods “At 44% per cent premium $111 will|rity of his shares deferred because of|used to figure interest on partial pay (Continued from Page 7) le: Oe fre quently | are. At $2 per month|the money repaid being loaned out at|ment or amort per share, this loan will be repaid in|@ lower, rate of interest than that at} follows: 88 months. $111 8 per cent inter- i aid loan was originally made.| “Fi To find the t on monthly ments of $2 will be four committee recommends that it|/ing rate or the ap) be loaned per sh zation schemes are a gross current go- nt flat net in eee te pe aid in 71 months. At 35 per cent|be suggested to the offic of the/terest rate, div amount loaned! mium $130 will be loaned. At $2 per | Building and Loan Association first} pen share by the amount of An wal in- ‘| re per month this loan will be re-|that in every receipt book issued to| terest called for on the notes. pl . paid in 88 months; $130 at 8 per cent} members, there be printed in, or pasted/12 divided by-111 equals 10.81 per cent. est paid level installments of|in, a table showing the flat interest/(this example based on premiuin, bid of : : QISEASE CHSES TAKEN UP in ‘ ’r month will be retired in 86.4| rate equ lents of the various pre-|44% per cent.) Second: To find the e months. At 33 per cent premium, $134;miums t may be 1 wl that at| gross cash out of hand interest paid} will } 2 per share, and the loan/each auction the sec ry announce!by the borrower, or the net real out-of-} RY T HEA : will be aid by $2 installments in 88|the flat interest equivalent of every|hand rate, total all out-of-hand pay months. $134 at 8 per cent level pay-| Premium bid that may be made. It has) ments made by the borrower on. each| e ments of $2 in #0 months. retired|come to the attention of th |tee that stockholders per month will } commit-|share loaned upon, substract from this} At per cent premium, desiring loans|total the amount of the loan actually The state hoard of health at its tri $140 will be loaned per share, and wili| have dropped out of the bidding and al-|gavanced, divide the amount of the net}, ; be retired in 88 monthly installments|!owed money to be struck off to others|out-of-hand interest thus found by the|22nUal meeting in Cheyenne this week . of $2 each per share, $140 at § per/at premium bids equivalent to number of years the Joan runs, to se-|\00K tnder advisement the method of . cent paid in monthly installments of|than 10 per cent and afterwards made|cure the annual net interest payment.! mocking Seat Ree CSS tet ae aa ¥ $2 per month, will be repaid in 96) Private loans upon which they are annual net interest. by the| pies Of Physicians in Wyoming who months. |paymg far higher rates, in several in amount of the loan through-|qict ' Teport those having Maturities on later series should he high as 12 per cent. Andjout the term, or one-half the amount|“'Seases. The state hoard of Oo a r er re) oose BBorieni than bonthonnt The|also as paying commission, in one in-|advanced. © 88 equals $176! Cxaminers and Governor Carey i average premium paid per|stance a commission of 3 per cent. This|total paid $176 $140 amount; *t the meeting. Dr. J. FP. O'Donnell ‘during ‘the “first’ ‘se or|Js entirely due to misapprehension of loaned equals $36 interest. 36 divided! ©! Casper, who is state officer inj : ed in ordinary terms, a face rave |the real rate bid. Second, that the by 71-3 rs equals $4.92. $4.92 ai-| Parse of veriereal control, attended} of 8.44 per cent or a net out of hand|board of trustees exercise their discre-| vided by 70 equals 7.28 net cash out-of. ‘22 meeting. an omen re) te based on an $8 months’ maturity|tionary authcriiy to disapprove of the|hand interest (this example based on| TH Question of not quarantining "NG.E1S Heri cent: ecurity offered by certain large bor-| premium bid of 30 per cent.) Third, to) “7#!Pox, since vaccination hat proved | and equitable} “A scheme more fair owers who seek additional loans jn or-|find gross theoretical interest paid by|™ ™eans of preventing persons from . . and one more skillfully worked out,|der that a few individuals may not|borrower divide the net premium atching the disease, was discussed at from a mathematical standpoint, would] monopolize the funds; in the past, a|the number of years the loan is to run,|{@® Meeting. Tt was decided that. for be difficult to imagine. A\ financial) few men of large credit responsibility|add the result to the nominal annuai|‘?¢ time there would be no action taken machine which theoretically secures to}and heavy stockholders have at times alled for on the notes, ana) i" [his sfate. the borrower 7 per cent money ang) Secured an undue proportion of the| divide by the amount of the loan. lenis Was brought out at the meeting nets the investor close to 10 per cent,|loanable funds—but in ice it must/ample: 30 divided by 71-3 equals 4.09,)thaé the vista of Minnesota had a law! and which in (practice to date has se.|be added that the individ referred | 4.09 plu 16.09. 16.09 divided|2Sinst tle quarantine placed in ef- i cured to the investor a return of near-| to are homebuilders then sy 140 equals 6 per cent. (this ex-|fct the first of this year. In this e e ly 16 per cent, while at the same time,|no small scale, ‘Third mple 1 mium bid of ;| northern state it was decided since) emord XE'VCISES 1 e through the working of the repayment|couragemeht and i cent.) Fourth, to find the theoreti al the vaccination when successful wa: 3 scheme above explained keeping the net| sistent with good business be extended] gross return to the association jfound to be an absolute preventative| zainst catching the disease, tine was needed. This law is being} urged in many other states in the United States at the present time. the real homebuilder and home buyer jin preference to business enterprises. “It is the opinion of your commit tee that the housing problem in Cas- per is too large for local resources to state that never to our knowledge,|remedy for the reason that the com- have the evil ingenuities of mathemat- pail ig not yet financially self-suf- icians, accountants and _ legislators| ficient, and that outside loan agencies been combined to work out a scheme| be encouraged by every means to en- more befuddling and confusing to the|ter our local field. it we advocate uvernge man than the one which we/the use of local money and _ facilities hav tempted herein to make clear | to the limit of their capacity and we Perhaps in the income tax legislation| believe that the Casper Mutual Build- a good running-mate, but even| ing and Loan Association is the best! present local agency through which}. out of hand cost to the average bor-| «rower down to about 7.1 per cent ap. proaches the incredible, but the above} statement represents the cold facts. “Qualifying this, however, we must from the total of the the amount of the loan, add the net premium expr lars\and divide the total by the num- ber of years to find the annual inte Two deaths were reported in Wyo- st and divide that amount by the|™n# from smallpox. It was stated at| average amount of the loan or one hair| tHe oard of ‘health. meeting —which| ENT Ma Claatiaeasatantoa! |showed that the disease was not as mild |ple: 176 minus 140 equals 36. 36 plus| in some cases "48 ‘some. have "been, 16d 30 equals 66. 66 divided by 71-3 equals|t® believe. In Natrona county most of 9. 9 divided by 70 equals 12.8 per cent.|¢ He cases have been of the mild va- (this example based on premium bid of|™ according to Dr. O'Donnell. | 30 per cent.) no quar-} Held Sunday, June 30th at _ 2 0°Clock You are expected to be at Moose Hall at | o'clock, to partici- BASED ON 88 MQ] our committee doubt ; a ee ; a: | Gross * present, the Casper Mutual] some degree of relief can be obtainec * theoretical + th Building & Loan Association has re-| We deprecate the possibility of secur Net rate Net real Interest Gross pate im le EXercises. sources of about $900,000 and a month-|ing six, seven or even eight per cent | : Rates Rate ly loan capacity of about $20,000, which|money in the near future, to work out | 4507 premium 7.06 1% is steadily It has never|a housing scheme. Further, such an 20% carntvinl 8.3 7¥, lost a cent of either principal or in-|idea smacks of charity and paternal- premium 9.8 8.34 % OHN N KRAUSS terest and has had to foreclose but one| ism, of which, in this connection, we prerntart 11.56 12:8 ° 9 mort disapprove. It is essentially a business premium 13.4 18.1 including ‘ problem. aes 15.6 24.8 Secretary. have alw: been far less n the We therefore recommend that the | 4507 hremium 18.39 91.22 mem-| Chamber of Commerce indorse the Cas- amount r zed from the ini vi % —————— “These figures exclude the commis- bership fees, and haye been kept to a| per Mutual Buildin Loan asso-|_ s | Tite Ghstnes/ (ray sel omy auines ran ion and_ its! wor! tia tps the | MCh One OnS OOUn gore crs Oollacs Daec TYPEWRITERS \ tion of which we have knowledge. But; Chamber of Commerce lend its assist-|Pership fee per share. 4 Bought, sold, rented, repaired. Dealer |; one officer receives any pay, the sec-|ance in the sale of a substantial num The ociation furnished no ac) CORONA—L. C. SMITH |e y retary, Jack Scott, and he has recelved|ber of building and .loan association |Countant’s modus or comprehensive ex: e Typew 1%} : the munificent salary of $100 per|shares of the new s in order that|Planation, This tabulation was worked asper Typewriter e have more funds}Ut from standard interest tables. Ou% &. month since May, 1919. The officers| the! association ma Vnatrastof fare: thigenors eneiearae eer Exchange | Ni give liberally and conscientiously of |;with which to work, particularly we’ instructions were to ry 0 s yyatt Bldg. Phone 856 ||} their time and energy. That there are|/recommend a vigorous selling cam.)S0ciation scheme as it effected — the!’ Cie ededededehihidedededdedidedididedededidededededetehheher incidental benefits flowing to some of|paign among the wage workers, and} them is certain, but these benefits,|salaried men and women in order that! aie Goran ites apaliny eae arou iiusae Ea ITianse apt iosainleuotcthen iaeaba LLILELLALI IIL ISIS SOLS S TS! IIIT IIIA TOTO OOOO OTIS OTT do|come savings investors and later home ang|buying borrowers. “In closing. w and in no event for the services rather than real, they compensate time given. wish to thank the of-} NOTICE Special Meeting . Richards & Cunningham Co. REBUILDING SALE MEN’S DEPARTMENT You should take advantage of our Rebuilding Sale and lay ina supply of wearing apparel for the hot summer months. It is customary to prepare yourself for Decoration Day by investing in a new Suit, new Hat and new Shoes and also some nice Shirts and Ties, so we want you to think of us when you buy them as we can save you money on. your purchases ‘ hi Clothing see You don’t know how cook and comfortable a nice Silk Our Stock of Men’s and Boys’ Clothing is com- Lieut. Caspar Collins Camp No. 15, U.S.W.V. : ! Will be held at the COURT HOUSE TONIGHT 8 P. M. Sharp To perfect arrangements for Memorial Day Services. E. J. KEMP, Commander. Shirt is for warm weather until you have tried one, and we have a very pretty assortment of patterns, ranging from $6.50 to $16.50 in silk. Also a beautiful line of Mercerized Madras and Soisette Shirts, which are very dressy, priced from $2.50 to $5.50. These are made with collars attached or detached, just as you wish, and are very neat and stylish looking Pret ry plete NOW and our prices very reasonable. Will allow a discount on all of our Men’s and Boys’ Clothing while rebuilding the store, so call and see us and save a few dollars on your clothing Men’s and Boys’ Shoes We feature the well-known stonian make of Dress Shoes for Meh and have them in all styles and shapes in Black, Vici and Gun ‘Metal Calf; Trunks and Suit Cases ORDINARY COFFEE WHEN RICHELIEU BRAND COSTS BUT DNE SEVENTH OF ACENT MORE {MISS SS SS SLT: Warm weather is here to stay now, sO we all need lighter Underwear, and you can find many different kinds here to select frtm. The most popular style for summer wear is the Athletic Union Suits, made of Nainsook, Mercerized Cotton and Soisette, but we also have a large variety of styles in the Knit Cotton, viz., short sleeves and ankle length, long sleeves and ankle length, short sleeves and three-quarter length; also athletic style. Priced from $1.25 to $6.50 per Suit CASPER STORAGE GROCERY Phone 97 x Should you intend to travel this summer, see us for your Trunks, Suit Cases and Traveling Bags, as we-always carry a large stock and our prices are very resonable always Hats and Caps We have a well-assorted stock of Men’s and Boys’ Hats and Caps and can fit and please almost any one who wants a-Hat or Cap and our prices are ‘right SPECIAL ANNOUNCEMENT Straw Hats are ripe now and we have arranged our stock in a large display case, near the front ‘entrance, where there is plenty of light and you will find a large variety of styles to pick from. Better get one for the Parade on Decoration Day also several different shades of Brown, Vici, Colt Skin and Calf at popular prices, and a complete stock of Boys’ Shoes in every style made SPECIAL ANNOUNCEMENT We have just received a large shipment of Men’s and Boys’ Canvas Shoes, with Neolin Soles and Heels, also the Tan Sandals, which are very cool and comfortable for Summer wear. And we have all sizes of Children’s ‘“‘Ked” Shoes, which are the cheapest footwear made any very comfortable for Summer wear. ae “Think Richards & Cunningham When You Want the Best” WPI LI LIP SMO ELIMI ILL OLLI SLL POLIT OO LOTTIE eH: J hdl a Sa a ae ee DE te de ee ee