A  building  and  loan  association  has  been  selected  which  has  matured
several  series  of  shares,  the  maturing  period  being  in  each  ease  133
months.  The  comparative  results  have  been  shown  under  the  lowest,
highest,  and  average  premium  rates  charged  by  this  associati<m  upon
the  loans  in  existence  at  the  end  of  the  fiscal  year  reported  to  the
Department.  The  practice  of  the  association  was  to  charge  upon  each
$200  share  dues  of  $1  per  month,  interest  of  $1  per  month,  and  such
monthly  premium  as  might  be  bid.  These  payments  are  made  for  133
months,  when  the  shares  mature  and  the  loan  is  satisfied.
A  loan  of  the  same  amount,  principal  payable  at  the  end  of  133  months,
interest  at  the  rate  of  5  per  cent  i)er  annum  payable  semi-annually,  is
made  from  a  savings  bank.  We  will  supiwse  the  borrower  to  deposit
in  the  savings  bank  each  month  a  sum  equal  to  that  which  is  paid  into
the  building  and  loan  association.  From  this  sum  he  will  require  825
semiannually  on  each  $1,000  to  meet  the  interest  payments.  The
balance  he  allows  to  remain  in  the  savings  bank  to  create  a  fund  to  pay
off  the  principal  of  the  loan  at  the  end  of  the  133  months.    At  the  end

a  A  full  description  of  all  the  premium  plans  will  bo  found  in  Chapter  III.
CHAPTER   II. SPECIAL   TABLES.  331

of  eacli  six  montlis  he  is  credited  with  a  dividend  of  2J  per  cent  on  all
sums  which  haye  been  on  dex>osit  for  six  months  preceding,  or  IJ  per  cent
on  an  snms  which  have  been  on  deposit  for  three  months  preceding.
