Excerpt from Fifteenth Annual Report of the Auditor of Public Accounts of Building, Loan and Homestead Associations of the State of Illinois: Together With an Appendix Containing Laws of the State of Illinois Governing These Institutions The tendency of the times is toward more liberal rates and terms for the borrowing member. Quite generally in Chicago, and in many other localities, the bidding of premium has been discarded, and where high rates of fixed premium prevail associations are forced either to reduce the same. Or, failing to secure borrowers, retire from the loaning business. Of the nine and three-quarter million dollars loaned during the year a large percentage was placed at 6 per cent interest with no premium charges. Wherever the matter of redue ing such rates is under advisement, it would be well for those in charge of the management to consider thoroughly the advisability of increasing the periodical payments of installments on stock. Such an increase falls upon all members and operates successfully towards solving the problem of too prolonged maturity.

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.