. Sketches of Monroe and Union County : together with general and individual characteristics of their people and a description of the natural resources and business enterprises. L BUILDING AND LOAN ASSOCIATION. In the s])ring of 1885 Monroe was favored with a visit fromSaml Wittkowsky, of Charlotte, a well-known building and loanassociation man. A public meeting was held and Mr. Wittkowskymade a speech on homes and home building, bringing to theattention of the large audience present the advantages of a build-ing and loan association organized on the perpetual system, thatis, a system that all
. Sketches of Monroe and Union County : together with general and individual characteristics of their people and a description of the natural resources and business enterprises. L BUILDING AND LOAN ASSOCIATION. In the s])ring of 1885 Monroe was favored with a visit fromSaml Wittkowsky, of Charlotte, a well-known building and loanassociation man. A public meeting was held and Mr. Wittkowskymade a speech on homes and home building, bringing to theattention of the large audience present the advantages of a build-ing and loan association organized on the perpetual system, thatis, a system that allows new stock to be sold at stated a result of this meeting the Perpetual Building & Loan Asso- 98 ciation of ^Moiiroo was organizi-il. Ilio late 11. !M. Uniiston was-elecied president and served faitlifuUy for several yi-ars untilthe election of .Mr. J. K. English, one of our best business \ I). Wiiiehester. Esq., was the first secretarv and treasurer andserved for three years, being succeeded by ^Ir. W. C. Wolfe, whoyet fills tile jiositiitn with great satisfaction. Since the organi-zation three liundi-ed loiiiis liave been made to those desirous of. :\[0XROK opi:i;a iiousi:. shute and soxs owners and maxagei^s. buying or building homes, and at this time the Association hasloaned out the sum of $ which has been expended in1)11 ving. building and improving the homes of the great usefulness of the Association cannot he put toostrongly. The stockholder who borrows money to build payssix per cent on his loan and gets four and three-quarter per centon his investment, this 1)eing the amount of jirofit made for him 99 hy the Association, there being praetieallv no expense of opera-tion except taxes. The present officers are J. E. English, presi-dent; W. C. Wolfe, secretary and treasurer; Adams & Jerome,attorneys; J. E. English, J. H. Lee, C. \V. Bruner, F. B. Ash-craft,, D. A. Houston, W. C. Wolfe, E. A. Morrow, Association
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