The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1872-06-21
TIE ASSOCIATION AT WORK.

TIE ASSOCIATION AT WORK.
Onr citizens are beginning to see
what the Loan Association is, and
what it does. Last Monday eve
ling it loaned S5S7 in cash, at what
will net be practically over 10 per
cent. per annum interest TO the par
Ties who borrowed. No other in
stitution or capitalist will lend
on tho same terms. In each
case the loan is going TO be put to a
very useful purpose. AS the Asso-
citation pursues its work all doubts
and prejudices will disappear. The
results and the methods are so prop
er and beneficial that so soon as
fully understood the approval is
We believe the Emporia Associa-
ton can finish its work in five years.
1t will be safe for those who bor-
row and those who do not to make
that term the basis of their calcu-
lations. Upon that basis let us see
what the figures will be.
One member borrowed his six
shares at $73 per share. Amount
received, S43S; deducting attorneys
and registering fees, stamps, etc., he
will have at least $3.50. He must
pay to the Association in return,
$40 go cents per share) each week,
for five years, or S624 in all. This
$40 per week is all he pays. 1t
cancels both principal and interest
of his loan.
Suppose he lends the S430 at Is
per cent. per year, as he can easily
do. Or supposing he borrowed it
from somebody else at the same in
terest. In five years the interest and
principal would amount to 1864, or
$40 more than he pays the Loan
Association. Does any one now
wonder why our money lenders de-
cline to lend on the terms offered by
the Association? They cannot af-
ford to, for they get great deal
more.
But the advantage of paying both
interest and principal in small week
ly instalmcnts is, to many people,
very great. They can in this way
pay off loan that otherwise they
could never manage. They save
constantly, calculate, economic, cut
off little extravagances, or bad hab-
its, and the consequence is by this
method they secure homes, pay for
property and get start in life, when
without the Association they would
find themselves about as well off at
the end as they were at the begin
ming of the year. 1t may be stated
that nearly all the funds paid into
the Association are clear savings,
evincing the best habits, and giving
assurance of certain progress and
prosperity on the part of those who
pay them.
The Association Injuries no per-
son. 1t benefits all its members,
and is in every way a powerful
agency for the moral and material
welfare of the city and county.
All should encourage it, and the best
way to do so is to hold some of the
stock.
We urge this subject upon the at
tention of the ladies. More OF
them ought to hold stock. Suppose
they use IL as savings bank. On
one share they pay % cents per
week, $l3 per year, or 500 in five
years. That share will then bring
them almost if not exactly Sl25.
But we suppose that they then take
S12O for it. Net profit $50. Near
ly % per cent. interest per annum
upon their deposits. Parents can
take a share or two for their chill
dren, aud without really feeling the
expense, lay them up nice little
bank deposit in few years.
Or suppose lady wants some
thing in the shape of luxury and
wants to pay for it herself. Sup
pose it is melodeon or sewing
machine. She takes two shares, and
borrows them at the rate above
given, S73 per share, or Sl46. Those
two shares will cost her so cents
per week for five years. Then there
is no more to pay, no principal to
come in at the I'D. The so cents
per week is all Cannot she econo-
mize and manage to save it without
starving to death or undergoing any
fearful privations? The ladies are
generally in favor of a fair share of
business as well as other civil rights.
There ought to be at least fifty lady
members taking an active part in
the condnct of the Loan Associa-
ton. The sexes combine in tenn
perance societies. This is the most
practical temperance society in ex-
istence. They combine in churches.
This is next to religion. 1t Is good
habits and sound morality.
In conclusion, We urge our citi-
zens generally, ladies and gentle
men, stockholders or not, to attend
the Loan Association meetings,
which take place every Monday
evening at the Court House, at 8
o'clock, and see how the people run
business for themselves.