1893 - State Library Information Center

CO-OPERATIVE BUILDING AND LOAN ASSOCIATIONS. 173Or, to transfer these prenjium rates into an annual nominalinterest rate per cent., plus the regular interest rate of 6 percent. :PLUS INT.GROSS. MO. INST. AN J LY. AN T LY.$10 (5 %) = 10 + cents (.06 '/') = .6 % = 6A %$20 (10 %) = 22 + cents {All %) = 1M % = 7A 2 %$30 (15 f*) = 35 + cent* (J75 7c) = 2.J- # = 8. 1 %$40 (20 %) = 50 cents (.05 %; = 3.- 1 % = 9. %The largest mortgage on real estate was taken during the yearby a Oamden city association, for $18,700, as may be seen insummary 14 below; in Jersey City one was executed for $17,000.In 1892, the largest was also made in Camden city, for $22,000;in 1891, in Jersey City, for $20,000. The smallest real estatemortgages in 1893 were $50, in Burlington city, Camden city,Millville, New Brunswick, Elizabeth, and in Essex and Monmouthcounties, outside of the cities. Altogether there were 9associations whose mortgages during the year were of the valueof $500 and under; 2 from $4,000 to $5,000 and 1 from $5,000to $6,000, In tjhe past three years the mortgages have ranged asfollows:1898. 1892. 1891.$500 and under,500 to $1,000,1,000 to 2,000,2,000 to 3,000,3,000 to 4,000,4,000 to 5,000,5,000 to 6,000,96091451621associations,auuuu175190441421associations,uaut