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Un des symboles suivants apparattra sur la derniire image de cheque microfiche, selon le cas: le symbols — *> signifie "A SUIVRE", le symbole V signifie "FIN". Les cartes, planches, tableaux, etc., peuvent Atre filmAs A des taux de reduction diffArents. Lorsque le document est trop grand pour Atre reproduit en un seul clichA, il est filmA A partir de I'angle supArieur gauche, de gauche A droite, et de haut en bas. en prenant le nombra d'iinages nAcessaire. Les diagrammes suivants illustrent la mAthode. 1 2 3 1 2 3 4 5 6 O You Own Your Home □ B% CK Investment Security and Savings Company* Head OfTlce 30 Vletopia Stp»?^f , Toronto. 30 { ^ Entered »ccording to Act of the Parliament of C»n»d*, in the year 1804, by The Birkbeok Company, at the Department of Agriculture, Ottawa. The ^Vrkbec^ INVESTMENT, SECURITY AND SAVINGS COMPANY OF TORONTO. Incorporated pursuant to an Act of the Legitlhture of Ontario. HEAD OFFICE : 30 Victoria Street, TORONTO BOARD OF DJRECTORS : H. P. DWIGHT, Esq., President. President Great Norch-WeBtern Telegraph Co., of Canada ; Viae-President Canadian General Electric Co., Toronto. THOMAS LONG, ESQ., Vice-President. Director TrnatH Corporacion of Ontario; Director liritish America Assurance Co., Toronto. S. H. EWING, Esq., Vice-President. Vice-President Molsons Bank ; Director Sun Life Assurance Co., Montreal. STAPLETON CALDECOTT, EsQ. President Toronto Hoard of Trade ; Messrs. Caldeoutt, burton & Spence, Toronto. E. R. C. CLARKSON, EsQ. Director Credit Poncier Fi anco-Canadien, Toronto. FRED. J. STEWART, ESQ. Director Land Se''nnty Co.; Direcror Consolidated Lanct and Investment Co., Toronto. Resident Board, Montreal : S. H. EWING, Esq., Vice-President, Montreal. HON. ALPHONSE DESJARDIN, SENATOR. President la iianque Jmtqiiert Cartier, Montreal, R. WILSON SMITH, EsQ. President Canada Accident Insurance Co. ; Pnbliiiher Insurance and Finance Chronicle, Montreal. F. W. G. FITZGERALD, Secretary and Manager. MEREDITH ROUNTREE, INSPECTOR OF AGENCIES. AUDITOR : W. H, GLOSS, Esq., F.C.A., Toronto. BANKERS : SOLICITORS : MESSRS. BLAKE, LASH & CASSELS. t ¥ The Birkbeck HAS been so named for the reason that in Its pur- pose and workings It has been modelled closely upon the lines of the great Banking and Building Corporation of that name In England, one of the largest financial and fiduciary institutions in Britain. How " The Birkbeck " of London, England, has grown may be gathered from the fact that in 1851, the year of Its establishment, it received but £556 from 46 depositors, while last year it received about £3,500,000 from over 40,000 depositors. From 185! to 1892 it has handled in all, in deposits, the enormous sura of £151,128,183. "Every Building Society in the Kingdom is an outpost against Socialism. " — Lord Beaconsjield, as Chancellor of the Exchequer. *' A financial experience^ which has been long and wide, has profoundly convinced me that, as a rule, the Company or Society thrives the best which dives the deepest into the mass of the community, and adapts its arrangements to the wants of the greatest num- ber." — Rt. Hon. W, E. Gladstone, as Chancellor of the Exchequer, 2 The Birkbeck Tfhe Purpose Tlie purpose of this Company is two-fold : IS an i, as r and e, the s the dapts num- hr of ist. To furnish a safe medium for the investment of Savings at hiji^her than Savings Bank's rates of interest. and. To furnish those who wish to purchase homes for them- selves, or pay oft mortgages on their homes, the means and oppor- tunity of doing so, with the added privilege of repaying their loans in small Monthly Instalments, not exceeding the amount usually paid for Rent. In other words the Company gathers together the savings of its members, which, scattered and in small sums could not be invested to advantage, and would probably not be saved at all, and lends the money so obtained on mortgage security to those who wish to buy or build homes, pay off mortgages, or use it for any similar purpose. The Birkbeck is essentially therefore a Savings-Trust Company, fulfilling all the best purposes of a Savings Bank, in which, Every Depositor is a Shareholder. Every Depositor Shares In the Profits. Every Depositor May Borrow. Most people of limited income have, from the nature of their occupation, few opportunities of making profitable business ventures. The especial advantage that results to such persons under The Birk- beck Company's methods, is that their investments, however small, share in all the benefits of an investment on a larger scale, with pro- portionate profits. The people whom The Birkbeck seeks chiefly to interest are, in the main, deprived of other means of obtaining good profits, because of the small amount of capital placed at their disposal. It is only by means of such a Company that wage earners are enabled to partici- pate in any degree in POWER OF CAPITAL. To wage-earners and rent-payers, and to all persons of limiled income, The Birkbeck presents the true, and in most cases the only possible, metliod of obtaining; a Home, or payintj^ off a mortg:agfe indebtedness. Thousands of Homes have been, and a>-e being, secured by the aid of The Birkbeck's system of saving at a cost of but little, if any, more than the amount ordinarily spent in Rent. The Safety W T IS THE CLAIM of The Birkbeck Company that the system I upon which its business is conducted, and the protection fur- nished its shareholders in its Articles of Association, which are based upon the Laws of the Province and of the Dominion, provide security as nearly absolute as it is possible for human ingenuity and foresight to devise. The Profits T HE profits of The Birkbeck are derived, in the main, from the power of interest compounded. Month by month Its re- turned monies are re-loaned and compounded. The Individual Cannot do this. The Company Can. Investors in The Birkbeck are, as a result of this constant com- pounding, secured a rate of interest upon their savings far higher than can be expected from the Savings Banks. SPECIAL NOTICE IT IS PARTICULARLY DESIRED That the Public will not confound the methods and workings of The Birkbeck Company with those of other institutions purporting, and perhaps appearing, to do a similar business. Its methods differ sharply, in several essential particulars, from those of other corporations doing business in Canada. The forfeiture feature, among others, finds no place in its system. On the contrary. The Birkbeck has been at pains to wholly eliminate from its business any feature that could bear inequitably on the wage-earner or saver. T [Regarding 3^^*"Ss HE only sure way to secure a surplus is to SAVE a portion of lyour earnings. The only sure way to make this sur- plus productive is to safely invest it. To be effective saving must be systematic. Five Hundred Dollars at 7 per cent, will double itself in 10 years ; but the investor must first have the $500 to begin with. Six Dollars deposited monthly with The Birkbeck Company will, it is anticipated, double itself in between 9 and 10 years, and this Six Dollars can be readily saved by many people. Now, one man alone, saving Six Dollars per month, can, it is true, accomplish little ; but a thousand men, each contributing Six Dollars monthly to 'a common fund, will, in twelve months, have $72,000 with a considerable accumulation of interest. In a few years they will have created a capital exceeding that of the Bank whose shareholders they perhaps previously envied. This is the simple purpose and aim of The Birkbeck Company. Through this plan the creation of capital is brought within the reach of practically everyone. WHY SHOULD NOT YOU BECOME A SHAREHOLDER ? Economy is in itself a Great Revenue. The difference between saving a portion of one's Income sys« tematlcally and spending one's ea^ shares is fixed and Is a^ ways One Hundred Dollars. To meet the wants of various classes of investors, The Birkbeck issues the following kinds of stock: Monthly Instalment Stock Payable in instalments of 50 cents monthly ; anticipated time of maturity 10 years. ILLUSTRATION Showing profit on ten shares of Instalment Stock, estimating matur- ity in 10 years : No. of Months 120 Monthly Payment $5.00 Total Amt. Paid $600.00 ParValue Net Gain $1000.00 i $400.00 Flj^ed Dividend Stock II^TpO INVESTORS who require a fixed and definite income ^ from their money, the Company issues Fully Prepaid Shares of $100, bearing interest at such rate per cent. per annum, payable semi-annually, as may at the time of issue be na:Tied by the Directors. This stocJc does not participate in the profits of the Company be- yond the rate per cent, so named. It is a fixed dividend-bearing in- vestment. P 6 Per Cent. Prepaid Stock ^ARTIALLY PREPAID 3T0CK (of the par value of $100) is issued at $50 a share, on which a portion of the profits earned, not to exceed 6 per cent, per annum upon the original sum invested, is paid to holders in cash semi-annually. This stock is entitled to receive in addition its proportionate «1loi-A /->f fUi> .>.i4'!»o .%.^C._ ^f 1.1.- /"• T>__C4._ -_ 4 ?- ... ,...,.,, ^. p, ^,,13 ^1 tjjj; ^utiJi/aiiJ-. r IUI1L3 cariicu in cxi;css of the 6 per cent, so paid are retained and loaned by the Company to hasten the maturity of the shares. I I r $40 Prepaid Stock • I3'*^!^T^^^*"^ PREPAID STOCK (of thp oar value of $ioo) Jj >s issued at $40 a share. This Stock participates ii the entire earnings of the Company, is h'able for no further call, and is payable at maturity in the same manner as ordinary astaU ment shares. I I THE lEriBERSHIP FEE ON ALL 5T0CK IS $1.00 PER SHARE. In the case of Prepaid Shares the Membership Fe? of $1 per share nust invariably accompany the application to the Head Office. On instalment Stock the first two months par*r3ents are required to be made at the time of application. un- IN ORDER to gfuard again^ possible misunderstanding or »N'arranted representation as to the riaturity of Instalment Stock H^T^HE BIRKBECK gives to every holder of this Stock a ^ definite contract as regards the number of payments. The number of instalments payable is limited, at most, to lao. Thereafter, whether it has matured or not, the holder may withdraw the value of the Stock in cash ; or, if preferred, the said value may be left, without further payment, until the earnings thereon mature it. These provisions are stated thus exactly, in order that there may be no just occasion for complaint, nor grouild for misapprehension. As will be seen by the foregoing illustration, the Instalment Stock of the Company is estimated to mature in 10 years. A posi- tive statement of the exact time in which its shares will mature can- not, however, be made in good faith by a responsible Company, since the extra dividends derivable from extraneous sources of profit cannot be definitely ascertained in advance. Experience goes to show that this Stock should mature within the anticipated period, and this is believed to be a safe and conserva- tive estimate. It is confirmed by the best actuarial opinion which the Company has been able to consult. This Company could, as some do, assert that it will mature its Stock at an earlier period, and make promises based upon assumed earnings ; but the Directors of the Birkbeck prefer to go before the public and in\-it«3 patronage upon the simple promise to invest th o funds entrusted to their custody with care and prudence, and eain the greatest profit possible consistent with safety. *T' Withdrawal of ^hares ^HE BIRKBECK cannot realize profits from short-time In- vestors, dees not wish, and will not knowingly accept, such subscribers. Its shareholders are admitted upon the distinct understanding- that they will remit their payments with punc- tuality, ar . carry their s-ock to maturity. The large returns rendered possible under this system of saving inure only to those who remain to the end of the maturity period ; they are disturbed by withdrawals. Instalment Stock has nevertheless a definite withdrawal value. To those who find themselves unable to continue the monthly payments required, the Company provides four options, or PRIVILEGES ist. OF TRANSFERRING the stock to a purchaser who may desire to continue the investment. An assignee of the stock is en- titled to all the beriefits of the original holder upon the registration of the assignment, and upon payment of a Transfer Fee of one dollar, 2nd. OF BORROWING on the stock. The Company will lend any sum not exceeding 90 per cent, of the withdrawal *ralue without requiring further security than the stock itself. Loans of this char- acter maybe paid at any time to suit the convenience of the borrower, and the maturity of the stock will not be affected in any way. 3rd. OF REDUCING the number of shares held. The full amount paid in will be transferred to a Ifesser number of shares of the same or subseq ent date. 4th. OF WITHDRAWING. Instalment shares may be withdrawn at any time after two years, upon giving 30 days' notice in writing. The withdrawal value shall be the full amount paid in thereon, exclusive of membership fees, with interest as follows:— If withdrawn after 2 years the sum of the pajaiients without interest; after 3 years, with interest at 4 per cent. ; after 4 years, interest at 5 per cent. ; after 5 years or later, interest at 6 per cent $40 Prepaid Shares may be withdrawn, at any time after two years, in like manner as Instalment Stock. $100 Fully Paid Shares, and $50 Prepaid Shares— the Dividend-Bearing Series— are, on the contrary, non-withdrawable, and rank as fixed and permanent capital of the Company. •D Payments in Advance ISCOUNT at the rate of 5 per cent, per annum for the aver- age time will be allowed on all instalments or other pay- ments paid for one year in ad'vance. S F'nes ^ ^HARES upon which monthly instahnents are not paid when to profits due will be chargred a fine of ten cents per share for each month they are in arrears ; and such fines shall be credited Information for Borrowers •1\I^ ^^^"* or Employee of the Company has authority to I ^ promise a loan at any time or for any amount. Agents cannot hasten or retard the making of loans, and are pro- hibited from asking or receiving from borrowers any fees or com- missions whatever for real or supposed services in connection there- with. Loans are made only to the shareholders of the Company, but ail)' person may become a shareholder at any time by making appli- cation for Stock. No loan will be made for a greater amount than the maturity or par valne of the Stock of the borrower. Thus the matured value of the Stock IS just equivalent to the face of the mortgage, and when the Stock matures the mortgage is discharged. Being a shareholder. the borrower participates in the full earnings of the Company in proportion to the number of shares he holds. Loans are made only upon First Mortgages on improved dty or town property, in an amount not to exceed 60 per cent, of the ap- praised cash value thereof. The Company will not make loans for speculative purposes, nor upon manufacturing or farm property. ^ The loans of the Company are. with a few exceptions, made on homes-either to purchase or build, or to remove existing encum- brances. It is probable that 75 per cent, of its borrowers, who will ultimately own a comfortable home, clear of indebtedness. WOULD NEVER OWN THE ROOF THAT SHELTERS THEM WHERE IT NOT FOR THIS SYSTEM ::::::::: The reason is plain : The payments are always the same, and are due at fixed intervals. Borrowers regulate their habits .>f living and expenditures accordingly, knowing at the outset they will have to pay each month and year, and Exactly How Long ILLUSTRATION Showing: the cost of carrying: and paying: off a loan of $i,ooo on Ten Shares of Stock, estimating maturity in ten years : No. of Months Monthly Payment Total Amt. Paid Amount Borrowed Cost of Loan 120 $13.30 $1,596.00 $1,000.00 $596.00 F ^ROM the foregoing: it will be observed that the borrower has paid out, and in sums little more than the monthly rental of a property of the same value, a less amotmt in the end thaa he would have paid on a loan of the same amount and for the same period at 6 per cent, per annum obtained \n the ordinary way He has been enabled, in short, to convert his rent into a fund for the purchase of a homestead free of encumbrance. Had he obtained a loan at 6 per cent, in the ordinary manner, he would have paid out. in interest, in ten years $6oo, and at the end of that time would not own a brick. He zvould still be in debt to the extent of $i,ooo. If a tenant, he would merely hold a bundle of landlord's receipts. It is a simple trufsm that not one man in a hundr \ pays off a mortgage m the usual way. It is renewed and extended-always as a rule, with increased expenses. The time when the principal becomes due is a time of apprehension, and in many cases when the day arrives the required sum is not forthcoming. ; Under The Bi.kbeck's methods the borrower is not confronted, at a set time, with bis entire indebtedness. On the contrary, the bur- den IS evenly distributed over a more lengthened period, and the loan lor which the interest could scarcely be raised annually, is NQf ONLY EASILY CARRIED BUT PAID OFF IN THE END ALMOST rMPERCEPTIBLY. No charges whatever are made upon loans other than actual disbursements. Loans may be paid off, in whole or in part, at any time after two years, upon giving 30 days' notice in writing. A DEFINITE CONTRACT is embodied in this Company's Mort- gages expressly limiting the borrowers payments to the number and period above shown. This provision, the importance of which will be apparent to borrowers, is a special feature of The Birkbeck, and en- ables them to definitely fix the maximum cost of a loan. The cost so shown may be lessened by the earlier maturing of shares. Borrowers mav fef?1 r-nnfi, Ion f ^^o^ «.u ....^i <• -r^. . . , ., - ""' '^"'- o^-t-i-iai cost or a isirkbeck loan will be as low as a conservative and safe management can make It. a.id that the repayment of the loan in Monthly Instalments wUl be no greater burden than the regular payment of rent. 10 Expenses of Management ^T^^Kl^r'^""' ""^'^^ ^^'"P^"^ P'"^"'^^ *h^' *h« ^'""""t avail. f able for expenses, apart from membership fees, shall i„ no wise exceed a monthly charge of one-tenth of one per cent of the par value of the stock in force. Any balance remaining, af^e prov,dmg for the proper and economical management of the Com Pany shall either be transferred to the Loan Fund and treated as profits, or applied to the creation of a Rest or Contingent Fund. Advantages to a Community ^^HE advantages to the community that allies itself with the f Company are obvious. It furnishes capital to aid in its In .V,. '^f '^'T'r"*' ^"d encourages and develops habits of thrift m the people. It helps a man to help himself. Make a man a house- holder, and you w,ll make him a better citizen of the town and pro- vmce of h,s res.dence. His interests and future are rooted to the soil. Good government taxation, and the economic administration of of fhr^ft rr' J^^^T"'""' '^"''**""^ *" ^""- ^'''^'^' «- habit of thnft acquired ,n the few years of saving that led to the ownership JZrw""^' L'" T^ '^'"' °"' °^ '""• '^^"'^""^ t° add to his store after his Home has been paid for. Authority of Agents ^i^ P^^ERY accredited Agent of the Con^pany is given a commis- JL^ sion under the s?al of the Company. This commission tl,. ^^ .^fP'-^^^"*^^'^^ ?'' Agent has powe^ to waive or alter any of thrcTmpr3- "''"""" -"tainedin the rules and regulacions of -oil ^rT /''' ^"^h^'-'^^d t« t^ke applications for Stock, and to collect the first payment thereon, but all other payments must be reinitted direct to the Head Office, or through the Local Treasurer where one has been appointed. treasurer. lar Jdh'^'^'-'r^'^i'^.^'"' ^' ^^°"" ''^''^ '^^y' °f-°"rse. been- ^e^seal 'ofXc ''''''"'''' '^'l' ^^^^^^^^^ '^ ^^^ ^e In writing under the seal of he Company. When such authority be not exhibited the above restrictions and limitations apply. I oarthrfi^'r" " '"^'^'^^^ ^-' f"'- the purpose of obtaining a Loan, the first payments must be forwarded to the Head Office If wLr .^ ""' ^?'''"^ *^' ^"^"""^ ^^^'' ""^ '•^^"'■"-d CO the applicant rJtu n f :r'''"' '"' Company will not be responsible for The return of such payments. XI Is the Investment Safe ? The Most Important Consideration_^-i^ That enters into the question of the desirability of any investment— more important even than the expected earnings— is that of The Safety. Investments in the Stocl< of THE BiRKBECK are secure to an extent Altogether Exceptional. The funds of the Company are loaned only upon First Mortgages upon improved City or Town property, in small average amounts, and upon ample margin of value, and under a sys- tem whereby a portion of the principal is re- payable monthly. Each month consequently sees The BORROWER'S DEBT LESS AND The Company's Security Greater. There is no Security Better than this. The Company's shares represent a direct proportional interest in first-class mortgage liens, and are thus PRACTICALLY BONDS secured by such mortgages, With the Advantage That the security rests upon so many distinct mortgages, scattered in different cities, as to render any material loss improbable. ta fe? KBECK irability ;n than d only ^ity or ts, and a sys- is re- uently AND direct •tgage OMDS stinct as to