Show OAN LOAN COMPANY DOUBLES CAPITAL CAPI the american building and loan co increase capital to ten million the american building and loan company 0 of salt lake city ot of which a number of local people are members advise us that they have just jost recently increased their capitalization from fite million mallio to ten million dollars this will na no doubt be good news to the local members of this progressive company the company was organized on oa the 11 of april 1923 with john joha D peters ot of this city as its president dr frederick J pack ot of salt lake city vice ioe prez president ident and george IV form formerly etly ot of this city ad as its secretary these together with ezra formerly of this city leroy dixon t fagid and dr joseph 11 grant ot of salt lake city caty comprise its directorate its assets have more than doubled in amount during each year ot of its ex istance the company is now successfully operating in the states of wyoming utah and in the territory of hawaii they have aided approximately individual members by loans they have placed more than e loeven million dollars of savings contracts many of which are paid up and I 1 are placing at present approximately I 1 a quarter of a million dollars in in sav lugs contracts each montil their central office Is located at walker bank building salt lake city utah Is perhaps no financial institution ution in america which can show an activity equal to that of oc building and loan as evidenced by the tact fact that the building and loan companies of the united states increased their cash assets during the year 1925 and loaned in the same year to their gambers mam bers each day tor for the establishment ant and maintenance of that most of all sacred institutions institution tha home more than one halt half of al all i the homes erected in the year 19 1925 companies were financed by the building and loan I 1 in the states of iowa and oklahoman Okla oklahoma homal there Is one building and loan account for each two ot of their population I 1 in utah one building and loan account I 1 Is carried by every fifteen people this does not leave a of doubt that there is as a rapidly growing tendency to look upon the home as the most important and most enjoyable thing in 1 life ife so long as this tendency remains we need have very little fear ot of the growth and progress ogress Tr of the country wo we also need have little tear fear of its becoming a militaristic country or an anarchistic country these things dont get along very well with home bome ownership the following excerpts taken from various papers are suggestive ot of the purpose and value 0 of building and loan companie comp anle prom from the minneapolis star there axe are few lines ol of business which have a more direct hand in making the citizens citizenship Mp of 0 any community comfortable and contented than have the bull iding ancl loan companies few people can be comfortable and c unless they do own their own homes and without the agencies afforded by the building and loan companies hundreds of thousands of people who are now home owners would still be in the class the national republic suggests that figures of tile the ties of building a 1 d I loan associations ot of the united states are abw always ays catl interesting because they form an in index dex r of the prosperity and progress of br the people of the country in moderate circumstances there can be n no 0 big success without a big effort A person person should learn to place a portion of his income in some good savings plan this habit establishes tab lishes a et stepping epping stone to future success in life it may mean the funds tor for a home going into business or educating one of the if dh hildren ildren or it may mean a fund for fop aldage old age the united states congress have evidenced an approval of building lamac and loan companies aua and investments by the tact fact that they have exema exempted ted all mutual building and loan companies compani eg from federal income taxes tor for an indefinite perio dof timo they have also exempted individual members from paying income tax up ito ao per year on moneys received as dividen dividends ds from mutual building and loan companies compan laa |