Stock day trading – 5% was in Veterans' Administration guaranteed mortgages.
The rest”81%”was in uninsured mortgages. This fact is brought out not to indicate that the building and loan associations are insecure because they hold uninsured mortgages, but to show that there is nothing whatever the matter with investing in uninsured mortgages. The record of building and loan associations is an excellent one. A number of associations pay an extra percentage if the money is kept invested over a period of years. Recently, one brokerage firm represented a building and loan association that paid 4½% to start but added three-quarters of 1% if the money was left in for one year, making the long term rate 5¼%. Another association paid 4½% plus another ½% if the money was left in for a year”making 5% in all.
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