1893 - State Library Information Center

174 STATISTICS OF LABOR AND INDUSTRIES.$1,359; in 1891, $1,310. This goes to indicate that the tendencyis to larger loans to single stockholders. The bond and mortgageinvestments comprise nearly 92 per cent, of the total grossresources of the associations, varying in the different localities.The real estate loans amount to over 96 per cent, of the totalloans, mortgage and book inclusive, $33,968,492. This is thesame proportion as the year before, when this total was $30,037,-753. The value of real estate owned by the associations, mostlybought in on foreclosure, is $105,788; cash on hand at the closeof the respective 1893 fiscal years, $752,570; other investments,$699,262, which includes arrears and the investments notreported in detail. The total arrears in 263 associations reportingaggregate $367,328; while the advance payments, largelydues, in 181 associations reporting, amount to $187,502. Theseadvances include $68,693 of 3 Elizabeth associations, for themost part practically deposits.IQ a number of associations, especially in Jersey City, thepractice prevails of not separating, in the secretaries' reports, theprepayments from the regular installments periodically due fromshareholders. In many instances, there is no account even ofarrears. All this is irregular and unsound. Advance?, that ispayments made before due, are really borrowed money, andshould not be counted among the net assets of an association ;while, on the other hand, arrears are legal debts owing to theassociation and belong to the net assets. In a good proportionof the associations in the State the details of the arrears are notseparately entered even in the books, as may be noticed fromsummary 9 below. While 263 associations report aggregatearrears as above given, the amount of back dues, interest, finesand premiums only total $254,552; dues, 212 associations,$140,870; interest, 186 associations, $92,840; lines, 169 associations,$14,154; premiums, 51 associations, $0,688.The number of associations which loan to others than shareholders,when the latter make no demands for the money onhand, is 84. Of these, 41 report such loans outstanding duringthe year, to the amount of $495,784 ; the balance presumably havingnone. lu 1892, the number was 49 and amount outstanding,$458,326. The nutnber of associations having such outstandingloans, and the amount, by counties, in 1893, is as follows, thedata for 1892 also being added :