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occupants or their families through the medium of these associations in a long series of years, must be much greater than $500,000,000. Twelve years ago, Mr. Doren, a competent authority, estimated this accumulation at $100,000,000 for Philadelphia alone, where the annual payments then exceeded $7,500,000. There must, therefore, be an accumulation in Philadelphia alone at this time of $180,000,000 at least ; and in the whole country there are now more than six times as many associations as in Philadelphia. We may, therefore, safely estimate the whole accumulations made by the aid of building associations at from $500,000,000 to $750,000,000 in a period of forty years. The savings banks of our country have provided for far greater accumulations in the same period; but it must be remembered that they are much older than the building associations in the wealthiest portions of the United States. At the rate the building associations are now gaining, the time may come when their accumulated savings at any one time will exceed those of our savings banks, immense as Mr. Townsend's report shows that those are and will be.

It is doubtful if any system for savings has ever been devised which has such a tendency to produce frugality among persons of small income as the building association methods. There is nothing to repel and everything to attract such persons, who are paying rent or board, and wish to avoid doing so. Borrowing, which in the ordinary form is apt to discourage or demoralize the poor man, is here an incentive to industry and economy; for he must earn and save money to keep up his investment, from which he is taught to expect greater profits than are usually returned to him in cash. But the return he gets in relief from rent-paying is itself a profit, which also appears to his imagination greater than it commonly is. The excitement of betting, the pleasure of house-building, the companionship and competition which he finds in belonging to such a society, - all lure him forward in the way of economy. There are drawbacks and there are dangers in these petty financial ventures which in the aggregate are so vast, but these are no more than attend the usual investments of money. We must, therefore, expect such associations to increase in number and to absorb more and more of the earnings of the people; just as life insurance absorbs more and more of the surplus income of classes a little more prosperous than those who make up the great body of shareholders in the associations we have been enumerating.

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Name of Association.

(In Illinois, but not in Chicago

.

1 Alton, Piasa Building & Loan Association, 2 Belleville, Citizens' Building & Loan Assen 3 Bloomington Loan & Homestead 4 Canton Homestead & Loan 5 Carbondale Building, Loan & Homestead. 6 Carrollton, Greene Co. Savings & Loan. 7 Carthage Saving, Loan & Building. 8 Centralia Building & Loan. 9 Charleston Homestead & Loan, 10 Clayton Building & Loan. 11 Danville, Vermilion Co. Building. 12 Decatur, Savings Fund B. & L. 13 Dixon Loan & Building Association. 14 East St. Louis, 1st Mutual Loan Associatid 15 East St. Patrick's

" & Building 16 Elgin Loan & Homestead Association, 17 Elmwood Homestead & Loan 18 Fairbury Building 19 Fairfield 20 Galesburg, Mechanics' Homestead & Loan 21 Galesburg, Mutual Loan & Building. 22 Greenville Building & Savings Association 23 Highland Park Building, Loan & Homeste

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36 Peoria Farmers' Savings, Loan & Homeste 37 Robinson, Crawford Building & Loan. 38 Rockford Home Building & Loan. 39 Roseland Savings, Loan & Building Co. 40 Sandoval Building & Loan Association. 41 Shelbyville Laborers' 42 Springfield German-American Savings & I 43 Springfield City Savings & Loan. 44 Spring Valley Building Association. 45 Sycamore, De Kalb Co. Savings & Loan. 46 Upper Alton Building Association. 47 Upper Alton Citizens' Building & Loan. 48 Urbana Builders' Loan Association. 49 Workman's Building & Loan Association,

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51 East St. Louis, 2d Mutual Loan Association 52 Gibson Saving & Building Association, of 53 Sullivan Building & Loan

Totals.

Averages. *Last 4 rec'd late therefore not arranged al

this Association.

Rate of expense of management to profits.

In paying mortgages or other loans.

st year 4%

In erect

ings. og ing build

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Is the Associat'n " permanent" or

to limited" in its organization?

Permanent.
50 Years.
Permanent.

Limited.

Permanent.

Limited.
Permanent.
99 Years.
Limited.

Permanent.

Limited $500,000.

50 Years.

Serial. Permanent. Perma'nt, serial.

Permanent.

Limited.
Permanent.

Serial.
Limited.

Permanent.
99 Years.

Serial.

Permanent.

Perma'nt 99 Yrs.

Permanent.

50 Years,

Permanent.

66

99 Years.

Permanent.

Limited.

Serial.
Limited.
Permanent.

Limited.
Permanent.

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