Savings Association

The Ann Arbor Savings Association has had its third quarterly report. It has already loaned $3,600. It had on hand Oct. 1, 1887, $117.46; received during the quarter ending Jan. 1, 1888, $1,320.33; loaned $1,200 during the quarter. Although the association is young. it has already made a half dozen loans that will do good. For example: There was a man paying from $25 to. $30 per month for rent of a house. He bought a lot, borrowed $2,000 of the association, and erected a fine house on Washington-st. His dues and interest amount to only $7 per week, about the same as he formerly paid for rent. In six or seven years he will have his house paid for. Another case : A laboring man had a mortgage on his place for $200. He took êtock in the association. His dutj and interest amount to only 70 cents per week. Another case still is that of a young tinner in Ann Arbor, who will pay in $2.50 per week from his wages, and thus be sure to save money. The profits of the association for the quarter amounted to $52.83.