Carthage Loan & Investment Company

Record book, 1912-1927**
Stock Certificate Book, March 13, 1963-March 1, 1967 issues

This record book and stock certificates represent an investment company located at Carthage, Missouri associated with the Bank of Carthage. Allen McReynolds was the President of the firm.

A group of investors incorporated The Carthage Loan and Investment Company on May 14, 1912. Capitalized at $25,000, the firm's 250 shares were distributed among eight persons, all of Carthage: Robert Moore (30 shares), B L Van Hoose (30), P N Wiggins (30), A F Carmean (30), Walther E Carter (30), George Brown (30), Allen McReynolds (30), and Allen McReynolds as trustee for Joseph W Aylor (40). The objective of the enterprise was "to buy, sell, own, lease, and rent real estate; to loan money, buy and sell commercial paper, and other securities including bonds of all kind and other investment paper, and to do a general loan and investment business."

This book contains minutes of the meetings of the shareholders and Directors, and associated documents. For the first eight years (1912-1920), not much activity was recorded, but on November 30, 1920 at a special meeting, the shareholders approved an increase in the capitalization of the company from $25,000 to $75,000. At the same time Joseph P Leggett, H S Cowgill, Frank B Williams, and J N Marsh were named to the Board of Directors, followed by G E Hough in 1921.

The annual report for 1921 indicated that the firm's principal assets were the buildings occupied by the Carthage National Bank and the Bank of Carthage, which produced income of approximately $7,700 against expenses of $4,284.60, with an estimated monthly income of $632. Although the officers and directors received no compensation, it was hoped that shareholders would receive a dividend in 1922.

As the 1920s progressed the firm remained profitable. "Net profits" were $4,900 in 1922, and "net returns" were $5,500 in 1923, $3,600 in 1924, opened a "real estate loan department," with Vice-President Walter E Carter as manager, at a salary of $75 per month. A "balanced sheet" presented to the Board on May 29, 1926 claimed "total assets" of $92,830.20, apportioned nearly equally between cash and real estate (and a Ford coupe worth $289.22). This prosperity enabled the firm to reward shareholders with 2% dividends on June 30 and December 31, 1926. On June 15, 1927 the shareholders met and voted to reduce the firm's capitalization from $75,000 to $37,500, with the difference being paid in cash to stockholders at $25 per share. At that time the balance sheet listed assets in cash and real estate of $92,503.92. That action constituted the final entry in this volume.

Further investigation of the more contemporary stock book needs to be done as well as updating company history during interim period.

Microfilmed: Yes

** Western Historical Manuscript Collection-Rolla, 2000.

Description above written by WHMC-Rolla and edited by Powers Museum Director.

Subjects:
Carthage, MO
Mills Anderson
Joseph W Aylor
Bank of Carthage
A F Carmean
Walter E Carter
Carthage Loan & Investment Company
Carthage National Bank
H S Cowgill
G E Hough
J N March
Allen McReynolds
Robert Moore
B L Van Hoose
P N Wiggins
Frank B Williams

Note: Not all shareholders have been indexed.

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