ASSOCIATION

AND LOAN

.

5-THE DETROIT JEWISH NEWS Friday, January 11, 1957

AMERICAN SAVINGS

FINANCIAL STATEMENT as of Dec. 31, 1956

OFFICERS

Authorized Capital $60,000,000.00

ADOLPH DEUTSCH

President

SAMUEL HECHTMAN

rice-President
and Chairman of the Board

A SSETS

JACK. SYLVAN

Vice-President

ALFRED L DEUTSCH

3,520,247.41
'Cash on Hand and in Banks
United States Government Bonds.. .... 2,078,515.63
Stock in Federal Home Loan Bank. .... 860,000.00
. * • • • 44,500,071.59
Fir,st Mortgage Loans

Secretary

FRED J. RUELLE

Assistant rice-President

GEORGE M. ZELTZER

Assistant rice-President

(F.H.A. and V.A. Government Insured
Mortgages included)

Land Contracts Purchased
Real Estate held- for Redemption
Real Estate Owned
Furniture, Fixtures and Equipment
less Depreciation
Accounts Receivable
Deferred Charges and other Assets
TOTAL

NEW HIGHER
AMERICAN SAVINGS

Treasurer

NATHAN I. GOLDIN

ALEX PRUJANSKY

812,789.60
56,237.88
22,920.27

..

139;506.95
115,319.54

53,109.09

Assistant Treasurer

MRS. F. W. MAURER

Assistant Secretary

EDWARD D. ELLIS

Assistant Secretary

DIRsECTORS

.

CHARLES CANVASSER

rice-President

State Plumbing Supplies
ADOLPH DEUTSCH

$52,158,717.96

RATE!

President

ALFRED L. DEUTSCH

Treasurer

CHARLES L. DODGE

-

Vice-President

Standard Cotton Products Co.
STANLEY N. EARP

LIABILITIES

President

Citizens Mortgage Corp.
SAMUEL N. GERSHENSON

$46,403,517.34

Savings Accounts

Treasurer

(All Accounts insured up to $10,000.00)

Advances from Federal Home
2,582,500.00
Loan Bank.
306,9.70.16
Loans in Process
.
16,280.31
Accounts Payable
Advance Payments by Borrowers
515,453.59
•
for Insurance and Taxes
Unearned Profit on Land
41,912.99
Contracts Purchased
4
Unearned Discount on Loans
210,118.11
Purchased
.......
Uncollected Interest on Loans
27,503.72
and Contracts
332.07
Other Liabilities
..
2,054,12967
Reserves
■ .$52,158,717.96
. TOTAL

11124

t,

Ned's Auto Supply Co:
NATHAN I. GOLDIN

Secretary

SAMUEL S. GREENBERG

Attorney-at-Law

SAMUEL HECHTMAN

Vice-President
and Chairman of the Board

MAXWELL JOSPEY

President

Production Steel Coil, Inc.
GRAHAM A. ORLEY

President

Algonquin Corp.
HARRY ROSMAN

President

Famous Cleaners Sc Dyers
JACK S. ROSS

Vice-President

Permalastic Products Co,
JACK SYLVAN

Vice-President

JOSEPH WARREN
• President
-
Warren Fibre Products Co.

EFFECTIVE JAN. 1, 1957

PLUS More Good News For

Thousands Who

"Save The American Way!"

For the benefit' of American Savings old and new customers, all savings

received on any day during the month of January 1957, will earn 3 per

cent right from the first of January. If you now have an American Savings

account, add to it and enjoy this extra profit! If you don't have an account,

open one this month, and earn 3 per cent from the first of the new year.

And your money is safe at American Savings ... insured to $10,000 by an

agency of the United States Government.

AMERICAN

•

WOODWARD AT LARNED

LIVERNOIS AT W. 7 MILE

open 9:30 to 4:30—Friday to 6 p.m.

open 9:30 to 4:30—Thursday to 8:30 p.m.

SAVINGS

- FORT STREET AT MILITARY

open 9:30 to 4:30—Friday to 8 p.m.

DEXTER BLVD. AT CORTLAND

W. 9 MILE near COOLIDGE

VAN DYKE AT E. 7 MILE

open 9:30 to 4:30—Tuesday to 8:30 p.m.

open 9:30 to 4:30—Thursday to 8:30 p.m.

open 9:30 to 4:30—Friday to 8:30 p.m.

Member Federal Savings and Loan Insurance Corporation

