Report On The Building And Loan Associations Of The State Of California By The Board Of Commissioners Of The Building And Loan Associations PDF Download

Excerpt from Report on the Building and Loan Associations of the State of California: By the Board of Commissioners of the Building and Loan Associations, in Accordance With an Act of the Legislature, Approved March 23, 1893, to His Excellency H. H. Markham, the Governor of the State of California; May 31, 1894 To his Excellency H. H. Markham, Governor of the State of California: In accordance with the provisions of Chapter CLXXXVIII, Statutes of California, we submit herewith our First Annual Report covering the work of this Commission for the fiscal year from June 1, 1893, to May 31, 1894, inclusive. It embodies the statements of 137 Building and Loan Associations, of which 127 are known as Locals, 8 Nationals, and 2 Cooperative Banks; together with a summary of all special lines of statistics drawn there from, and such observations concerning the status and management of Building and Loan Associations in this State as we deem of value to the general public and the organizations themselves. The Building and Loan Associations of California have gross assets amounting to 18. They hold capital invested by members, 61, and accrued earnings to the amount of 20. They have loans outstanding which aggregate 48, for which they hold real estate mortgages and bonds and hypothecated stock as security valued at 68. During the past fiscal year they have collected from members in dues 85, and from borrowers, in premiums and interest. 93. They have also received, on loans repaid, 08. In the same period they have disbursed in loans 64; have paid to retiring members on canceled and matured shares, 09 (refunded capital), and 22 as profits thereon. The aggregate profits of the associations for the fiscal year have been 97. Of the 137 Building and Loan Associations reported, all except three Show a net profit on the year's business. We submit that it is a successful line of business that, in times like the present, and under so many different managements, maintains an investment of over twenty million dollars, and makes a net profit of per cent on the entire working capital. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.