makes the mortgaged property security for the loan first made and any subsequent loans up to a fixed limit. When an additional loan is made only a promissory note for the new amount is exacted. It is rulable with some associations to place this new note on record with the County Recorder, as notice to the world that the property is held for more than the face of the first loan. This has the sanction of good legal authority, but we think it a better plan, though involving some extra trouble and expense, to cancel the first instrument and execute a new note or mortgage for the entire amount of the expanded loan. BUILDING AND LOAN LITERATURE. For the benefit of those who may desire to inform themselves on the history, theory, practice, and law of Building and Loan Associations, we append the following list of books and documents on the subject: Thompson on Building and Loan Associations (Law). Callaghan & Co., Chicago. A Treatise on Building and Loan Associations, by Seymour Dexter. A. Carlisle & Co., San Francisco. Rosenthal's Manual for Building and Loan Associations. A. Rosenthal & Co., Cincinnati. How to Manage Building and Loan Associations, by E. Wrigley. Report on the Building and Loan Associations of the United States, by the U. S. Department of Labor (forthcoming). New York-Official Reports on Building and Coöperative Savings and Loan Associations. The National Building and Loan Herald, New York. Ohio-Building and Loan Association Report. New Jersey-Report of the Bureau of Statistics of Labor and Industries. Minnesota-Report of the Public Examiner. Maine-Report. New Hampshire-Report. Massachusetts-Report. Vermont-Report of the Inspector of Finance. Maryland-Report of the State Tax Commissioners. California-Report of the Board of Bank Commissioners. Fourth Biennial Report of the Bureau of Labor Statistics. ACKNOWLEDGMENTS. This Commission desires to acknowledge its obligations to the Attorney-General, and to Hon. Wm. C. Van Fleet, for legal advice, and to Wickliffe Matthews, Esq., of the San Francisco bar, for valuable legal services and for the compilation of laws and decisions affecting Building and Loan Associations, which is presented as an appendix to this report. All of which is respectfully submitted. GEO. A. FISHER, Commissioners of the Building and Loan Associations. No. of shares issued since last report.. 569 No. of shares canceled since last report Plan of distribution. No. shares free ... Ratio of salaries to total receipts.. Ratio of expenses (including salaries and taxes) to total receipts. Surrender value of all shares... Total present worth of mortgages. Total appraised value of improvements. 696 $19,898 96 Partnership. 1,23914 1,92134 1.23 per cent. 3.45 per cent. $229,283 65 234,817 75 145,410 00 Total appraised value of land. 222,275 00 Total book value of stock hypothecated 19,232 25 386,917 25 Premium ..Gross and Installment. No. of shares issued since last report.. No. of shares canceled since last report.. Plan of distribution No. of shares loaned on No. of shares free... Ratio of salaries to total receipts.. Ratio of expenses (including salaries and taxes) to total receipts.. Surrender value of all shares.... $9,144 64 Wrigley. 96112 845 1.41 per cent. 3.92 per cent. $123,490 84 137,778 74 113,650 00 Premium First. Second Third. Fourth Fifth Sixth First Second Third. Fourth Fifth Sixth 155,600 00 Residence. Amount of Capital Stock |