Salt Lake Telegram | 1932-12-26 | Page 11 | Building-Loan Folk to Pay 175 Million

LOAN BUILDING FOLK TO PAY MILLION Total dividend distributions of the building and loan associations forthe for forthe forthe the l last st half of ot 1932 will reach by January 1 I 1 H. H F. F Cincinnati treasurer secretary a of the United States Building and Loan league leacue reports This payment of earnings to some shareholders in home financing financing fi fi- fi institutions is in line with their practices of the past years that they have been in operation Mr Cellarius points out On January 3 th the business will celebrate the anniversary of the first association established in this country During the past year some was distributed in the form of dividends to holders of building and md loan shares reports the league officials This represents the continued con con- t use of the savers' savers funds to finance home owners who place their obligation on the home first above all other expenditures Dividends which the associations pay are arc d de rived from the home borrowers borrower's payment payment pay pay pay- ment of carrying charges When we consider the payment of this dIvidend dividend divi dIvi- and th the payment of the interest interest inter inter- est on home loans which made the dividend possible we realize again that the major portion of the people are continuing in employment and l living iving normal lives Bec Because use the associations are Increasing increasing in In- creasing their reserves and adding to the safety of the savers' savers funds the dividend rates of many of the associations have been reduced by 12 2 or 1 per cent for the semiannual period ending January 1 Reporting associations say that the general attitude attitude at at- among shareholders about such reductions is one of cooperation