Newspapers / Wilmington Morning Star (Wilmington, … / Jan. 23, 1946, edition 1 / Page 9
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“Homefitting” Your Plans , The 1946 Picture Is Our Service Desire at The CAROLINA "" Veterans and Other Prospective Home Owners Will Find Ample Finances To Buy or Build Through Our Newest Loan Plan —Also Funds for Repairs or Additions To Your Present Home. J--L Some of CAROLINA’S 1945 Activities Made Leans Tdtaling $694,761.55 Increased Total Assets . $504,182.30 Paid Dividends to Shareholders $83,783.24 Paid Maturities $301,401.75 Increased Total Shades 5,850y2 \t ASSETS - Perio d Ending Dec. 31st, 1945 - LIABILITIES The Association Owns: 1945 1944 Cash in Banks and on Hand.$ 196,739.98 $ 224,349.18 Stock—Federal Home Loan Bank... 18,000.00 18,000.00 Bonds—U. S. Treasury and War Bonds. 2,194,844.00 1,458,844.00 Interest Receivable on Investments. 8,816.76 6,797.93 I'"irst Mortgages. 1,506,275.28 1,708,627.45 Loans on improved real estate Collateral Notes..... 8,850.05 11,070.00 Loans on shares of the Association, not ex ceeding 90 per cent of amount paid in Advances. 93.10 669.83 For taxes and insurance in protection of bor rowers and recoverable under terms for mort gages. Furniture and Fixtures—Net. 1.00 1,000.00 Other Assets. 342.42 421.90 Accrued interest on loans. __ TOTAL .$3,933,962.59 $3,429,780.29 AN ASSET WE INCLUDE-THE GOOD WILL OF THE PUBLIC. The Association Holds in Trust for: 1945 1944 Its Shareholders.\.$3,636,867.35 $3,176,051.84 Under the financial plan of the Association, , interest and principal repayments mature and are collected weekly or monthly. Independent, therefore, of growth, and surplus, the Asso ciation always has a steady income to meet the demands of withdrawal many times over. j; Bills Payable and Advances Federal Home Loan Bank. NONE NONE Amounts due banks and others with definite due dates. Accounts Payable. 230.34 Loans in Process. 13,844.55 191.30 Other Liabilities.. 268.09 463.20 Interest paid in advance. $3,651,210.33 $3,176,706.34 Surplus. 80,871.79 75,849.73 Profits earned and to the credit of the share holders payable at maturity of series or divid end period, RESERVE: For Contingencies. 201,880.47 177,224.22 TOTAL .$3,933,962.59 $3,429,780.29 We have examined the books and records of the CAROLINA BUILDING and LOAN ASSOCIATION of Wilmington, North Carolina and pre pared therefrom the above Balance Sheet as of December 31, 1945. Proper verification was made of all Assets and Liabilities as shown by the books and records with the exception of examining the collateral supporting the first mortgage loans. In our opinion, based upon such examination, the above Balance Sheet correctly presents the financial condition of the Association as of December 31, 1945. January 21, 1946 J. B. McCABE & COMPANY Certified Public Accountants By: W. C. NICHOLS, C. P. A. (N. C.) Three The / Million Dollar % Roger Moore, Pres,. Murray G. James. V.-Pres. W. A. Fonvielle, Sec.-Treas. W. D. Jo nes, Asst. Sec.-Treas. J. O. Carr, Attorney DIRECTORS: D. B. BRANCH ' Jno. R- HANBY ERED E- LITTLE SOL STERNBERGER j 0. CARR H. JAFFE 1 LLOYD W. MOORE J. E. STERNBERGER B. B. CAMERON MURRAY G. JAMES ROGER MOORE JAMES D. CARR W. A. FONVIELLE W. D. JONES J. F. POST HOWARD A. HANBY ^__ ' . ' \ ... ■——————
Wilmington Morning Star (Wilmington, N.C.)
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Jan. 23, 1946, edition 1
9
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