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SUPPLEMENT. T0THE McHENRY PLA1NDEALER Thursday' May 2, 1957 Fleti for folks money (Continued from Page 3) have been carefully thought out to fit your available time. Our procedures for handling funtis in and out are quick? and simple. Our Save-by-Mail Plan permits you to save time as well as any amount. In addition, many different types of accounts are open to your selection! how will you benefit from borrowing from your Savings and Loan Association? w ince every day more and more people turn to Savings and Loan Associations to help them finance their homes, it is obvious there must be good reasons behind their choice. One of the big ones is the fact that Savings and Loan Associations first invented the "Pay-asyou- go" plan for home purchasing. how did Savings and Loan Associations start? The first Savings and Loan Association in America was founded in 1831, a year early in the era of commercial and industrial development which was to make this nation the wealthiest on earth. At that time, as now, there was a real need for specialized financial institutions to assist American families in the accumulation of savings and, equally important, to finance those families in the purchase of homes. -A The first borrower was a lamplighter named Comly Rich. He was loaned the munificent sum of $500 for a two-story frame house that still stands in Frankford, Pennsylvania. In the 125 years of service since then, the Savings Association has never digressed from its original purpose. Today, over 57% of America's families own their homes and about 37% of all the homes purchased are financed by Savings and Loan Associations. Moreover,^today over 19,000,000 people are entrusting their savings to the Savings and Loan Associations . . . the total amount of savings exceeding 34 billion dollars. Through the years, these community financial institutions have successfully withstood 13 major economic depressions; survived 5 wars and have been an important influence in both thrift habits and home ownership. Every man, woman or child with money in a Savings and Loan Association,' shares in the wealth of the United States. CONDENSED STATEMENT RESOURCES First Mortgage Loans $535,518.37 Cash on Hand and in Banks 79,991.^6 U.S. Government securities 2,090.55 Furniture and Equipment 12,084.64 Other Resources 2,042.48 TOTAL ASSETS $631,727.50 AS OF APRIL 22, 1957 RESERVES and LIABILITIES Savings and Investment Accounts ..$456,292.07 Advances from City National Bank 35,000.00 Loans in Process 6,875.06 Accrued Taxes, etc 4,364.36 TOTAL LIABILITIES $502,531.49 Specific Reserves $ 3,664.3$ General Reserves 5,265.15 Capital Stock - Guaranty Reserve .. 100,000.00 Paid-in Surplus 20,000;00 Earned Surplus 266.47 TOTAL RESERVES & LIABILITIES $631,727.50 Oiir We are extremely proud to have particpatlrd in the construction of this New MdH^nry Savings and Loan Building. New developments m cement and! concrete are keeping pace with the increase in popuMfidn arid technical demands of the nation and of the world. A great future is in store for America and concrete will play an important part in thdt future. "Ready-mixed concrete" is concrete proportioned in the plant of a re&dy=mix producers and delivered by truck to the construction site. The mixing of the concrete is usually completea on the truck in transit. The McHenry Ready-Mix Co., Inc., has become a specialist in this field of concrete development. Since the birth of the organization, some ten year ago, it has played an important part iri the building- boom of Lake and McHenry Counties. The McHenry Ready-Mix Co., employs specialsts to properly proportion ready-mixed Concrete. For without proper proportioning, concrete will become utterly useless. because of a reputation of high withstanding, the McHenry Ready-Mix Co., Inc., was selected to begin the important woYk in the construction of the McHenry^Savings and Loan Association. McHenry Ready-Mix Co., Inc. McHENRY ^STREET ILLINOIS Phone May W TO THE McHENRY SAVINGS and LOAN It has been a pleasure to supervise the construction bf the new quarters of the McHenry Savings and Loan Association. The satisfaction of erecting a strong, beautiful buildihg is but part of the pleasure. This substantial building, conforming to the v best modern architecture and situated and arranged for the convenience of its patrons and employees, is a monument to the growing city of McHenry and the people and industries of McHenry and McHenry County. It also has been a pleasure to work with the officers of the association. They have cooperated in very way in the construction of the new building. It is, indeed, gratifying to have been instrumental in th£ erection of their New quarters in keeping with the financial strength of the McHenry Savings and Loan Association and the growing requirements of the people and industries of the city of McHenry and McHenry County. T0NYAN CONSTRUCTION CO. GENERAL CONTRACTORS ( f t 1 100 Bordera Street . PHONE 152 MeHeoiry, lilirtoi v