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Building & Loan

Building and Loan Association
January 3, 1890
Pg. 3

A meeting of the business men of Plymouth was held at the Court House on Friday night last, with a view to organizing a Building and Loan Association. The meeting was addressed by Mr. Edmund Alexander, of Washington, who made a strong effort to organize an association, but only a few of our business men seemed to show any willingness to become stockholders, therefore not association we organized.

We think if an organization of this kind could be organized in our town much good would be done. The organization proposed by Mr. Alexander would be under the management of the Southern Building and Loan Association, of Knoxville, Tenn. The objects of this association is to enable those who desire to own homes of their own, to acquire them, at a monthly cost not greater than the rental of the space property. To build up and improve the town by enabling many to build who otherwise would always be renters. To provide for the safe and profitable handling of small payments made by persons who desire to invest but lack the means necessary to engage in any enterprise requiring capital. They are especially adapted to the wants of those who wish to save small sums from time to time and are seeking a suitable and safe depository where the profit will equal that enjoyed by stockholders in banks, railroads and other enterprises of a profitable nature.



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