Industrial betterment . liENERAL VIEW OF THE INDUSTRIAL TOWN OF WILMERDING. IMPROVED HOUSES FOR THE EMPLOYEES Digitized by Microsoft® Digitized by Microsoft® INDUSTRIAL BETTERMENT. 57 payments in the nature of rent, based on the purchase monthly payment included interest and life insurancepremiums on a policy to clear the property in case of thepurchasers death. On the fulfillment of the above condi-tions, the company agreed to deed the property free of in-cumbrance. The company also agreed, on the payment of 70 per cent,of the original value of the property by the purchaser, todeed
Industrial betterment . liENERAL VIEW OF THE INDUSTRIAL TOWN OF WILMERDING. IMPROVED HOUSES FOR THE EMPLOYEES Digitized by Microsoft® Digitized by Microsoft® INDUSTRIAL BETTERMENT. 57 payments in the nature of rent, based on the purchase monthly payment included interest and life insurancepremiums on a policy to clear the property in case of thepurchasers death. On the fulfillment of the above condi-tions, the company agreed to deed the property free of in-cumbrance. The company also agreed, on the payment of 70 per cent,of the original value of the property by the purchaser, todeed the same to him and accept a first mortgage as securityfor the balance. The life insurance feature protected both the employerand employee, for the policy was taken out in the name ofthe company. As the payments ceased at death, the policycancelled the expense of the house to the company, and thedeceaseds beneficiaries received the deed free to theproperty. Interest at the rate of five per cent, for average time wasallowed any one who might desire to anticipate payment
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