Show A I I T f SO THE PEOPLE MAY KNOW T TT T HE building and loan law of Utah stands today in the sam zam 1 atrocious fix in which the 1927 legislature found it The Gardner bill died in the house of representatives last night This bill while not ideal would have tended to curb the legalized pilfering of investors by some companies who took every advantage of the current law Treachery on the part of certain compan es which professed professed pro pro- to favor an equitable law figured some in the failure of the Gardner bill Th legislature might have provided safeguards safeguards safe safe- guards to the people of Utah it NOW LET THE INVESTOR BE CAREFUL Here i i what happened to one man He paid into a building and loan company a total of With interest compounded at 6 per cent semi annually his total investment amounted to When he withdrew his money he got back The went rest to the company as withdrawal charges Under the present statutes heavy penalties still are coun- coun I Investors may be required to pay on a building and loan contract for eighteen months and give one months month's notice in writing before they can withdraw Then they can be penalized not exceeding 5 per cent of the maturity value of said stock or investment c certificate and fines levied thereto for delinquency plus one half of the earnings dividends or interest declared or credited to such stock The Utah League of Building and Loan associations recently recently re- re recognized the withdrawal fees or loading charges made by many of the companies as being highly unfair It drew up and urged vigorously the passage of the Gardner bill to help remedy the flagrantly bad practices Rut But the has left the job of cleaning house to the building and loan associations themselves Some companies already have lowered their fees The ones which dont don't change the penalties of th their ir own accord will find that they have to rely for their future business on unfortunate ignorant people ople who are are to too careless careless' s of their money t r t J Y i g a 0 rJ di dl ni ih Sf Ma building i a and loan companies p s offer a safe convenient con con- profitable f rm of investment r BUT BUT BUT-a a few likely will attempt 0 o continue the excessive charges they are allowed und under r the law To you Mr Citizen Mr Homeowner Homeowner-BE MIGHTY CAUTIOUS BEFORE YOU INVEST Be sure the company with whom you bind yourself by a long term contract is relia- relia ble Be certain of how long you must pay before you may withdraw a cent of thE money Dont Don't let a clever salesman merely tell you the withdrawal fees are reasonable Demand Demand De- De mand to know WHAT per cent you will be penalized if you are forced to withdraw This warning also applies to foreign investment corporations doing business in Utah Dont Don't h hI dunes dunel I |