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Invest Your Savings

Invest Your Savings image
Parent Issue
Public Domain
OCR Text

The poor man of Ann Arbor, if he is industrous and economical, need not long live in a rented house. The number of those who have not passed this stage is small. Two savings associations. known respectively as the Ann Arbor Savings Association and the Huron Valley Building and Savings Associntion, are maintained in this city. The former was tablished nearly five yenrs ago, the latter less than a year. They are both under the same management, John R. Miner beingsecrotary for each, and they have a oombined (nominal) capital of 81.500,000. Shares are placed at 8100 each. Of these, 3,000 have been taken, thus making a total of S500,000 as the actual investinent. Over 800,000 has already been loaned to about 350 different persons. During this season exactly h'fteen dwellings have been erected by means of the associations. Lenders of money pay weekly 35 cents for each share. In this way interest is taken care of, white the principal matures within seven or seven and a half years. Investors pay weekly 15 cents per share, or as much more as they see ftt to pay. The number of both lenders and investors is rapidly growing, and the two associations are thus becoming j stronger and strenger factors in the busl iness world.


Old News
Ann Arbor Register