These societies are frequently organized along national lines. For example, among those listed in 1893 by the United States Commissioner of Labor[28] are the Bohemian Building and Loan, organized February 1, 1886; the Bohemian California Homestead (February 15, 1892); the Bohemian National Building Loan and Homestead (January 30, 1888); the Bohemian Workingmen's Loan and Homestead (April 20, 1890); the Ceska Koruna Homestead (May 6, 1892); the King Kazimer the Great Building and Loan (January 27, 1886); the King Mieczyslaus the First National Building Loan and Savings Bank (June 3, 1889); King Zigsmund the First Building and Loan (April 15, 1891). December 1, 1918, there were 681 such organizations in Illinois; 255 of these were in Chicago and the majority were conducted and patronized by the foreign born. The following is briefly the method by which the building and loan associations perform the two services of providing for investment and lending money on homes:[29] The stockholder or member pays a stipulated minimum sum, say one dollar, when he takes his membership, and buys a share of stock. He then continues to pay a like sum each month until the aggregate of sums paid, augmented by the profits, amounts to the maturing value of the stock, usually $200, and at this time the stockholder is entitled to the full maturing value of the share, and surrenders the same. A shareholder who desires to build a house and has secured a lot for that purpose, may borrow money from the association of which he is a member. Suppose a man who has secured his lot wishes to borrow $1,000 for the erection of a house. He must be the holder of five shares in his association, each share having as its maturing value $200. His five shares, therefore, when matured, would be worth $1,000, the amount of money which he desires to borrow.... In a building and loan association the money is put up at auction, usually in open meeting on the night or at the time of the payment of dues. Those who wish to borrow bid a premium above the regular rate of interest charged, and the one who bids the highest premium is awarded the loan. The man who wishes to build his house, therefore, and desires to borrow $1,000, must have five shares of stock in his association, must bid the highest premium, and then the $1,000 will be loaned to him. To secure this $1,000 he gives the association a mortgage on his property and pledges his five shares of stock. To cancel this debt he is constantly paying his monthly or semimonthly dues, until such time as the constant payment of dues, plus the accumulation of profits through compounded interest, matures the shares at $200 each. At this time, then, he surrenders his shares, and the debt upon his property is canceled.