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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Dec 01, 1926
Page
11
Montanas largest mutual savings institution celebrates formal opening of the new U S building at Ark and Dakota, the former Yegen Bank premises bought for 100 150 by Thomas T. Taylor Jr. The six month period ending Oct 1 1926 shows earnings up over 55 000, reduced idle funds by 325 000, lower operating expenses, and an 8 percent annual dividend declared for the twenty first semi annual period.
In Narimski Krai Siberia a band of Tungusian Indians found an eight pound gold nugget on the Shigiback River bank. The find could turn exiles near Tomsk into millionaires as gold abounds along the Chigi back. Exiles, residents of Narimski, are confined there yet may work any occupation and often hunt and fish.
Integrity and vision built United States Building and Loan of Butte into Montana Idaho Wyoming’s largest association. From a Hamilton Street office in 1916 with one room to a home office in the U. S. S. building at Dakota and West Park, the firm expanded through long hours and education of shareholders, led by founders A J Haggerty M M Murray and Phil T Dunn with directors Dunn Haggerty Murray Tomich Harrington Bucsko Malsbury.
The United States Building and Loan Association is likened to an irrigation system in a quoted comparison. The article continues on page four, column two.
Butte residents and members are invited to visit the United States Building and Loan association’s new home at Park and Dakota streets for its formal opening. The building, once the Yesgen bank, was bought at public auction for 100 150 dollars on court order, with Thomas T. Taylor Jr as secretary and manager. The lobby and banking room were redecorated for the home office of one of Butte’s leading financial institutions as the six months ending October 1, 1926, marked the association’s strongest period since its 1916 start.
The United States Building and Loan Association started with assets of $9 191 on Sept 30 1916. Within 12 months assets were five times larger. By 1924 assets neared 3 5 million and today the organization, Montana's largest building and loan association, shows assets just under $5 000 000. Members include residents of Butte and many Montana cities plus former residents elsewhere. Funds come from miners in Africa Chile India and European returnees.
Private Romanian agricultural and industrial interests plan to issue a foreign loan to modernize railroads water works and ports. Oscar Kaufman of the Romanian Kredit Bank says funds will develop farms oil wood salt and coal. Dublin reports a successful Baby Week with broad cooperation to improve Irish child health.
Under Montana Wyoming and Idaho laws the United States Building and Loan association is operated and audited yearly by three state banking officials. Examinations check every record asset and liability, with inspectors allowed to question actions and report fully to superiors. Officers claim triple security for lenders, demanding utmost circumspection in loan security.
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