The Hickman courier., 1872-06-08
Building Association.
see1anics an Laborers Of Hick
man and q0rinif,,

e BniIding Association.
70. ) 9refaet1anics an LaBorers of Hick
- man and uaciniy.
- ding Association is organize,
by a amber of persons taking shares o
stocl Is IN the organization of bank
inS Sther corporation;.exce tina
IN tl5s there is a stated-sum to be paiC
al reksiar monthly intervals, which sun
is oaa.dollar upon each share of stoel
subscribed Usually the stock of sucl
an ass2elation will consist of from fivt
hundred to pne thousand shares of one
hun1fet dollars each If composed ot
hVe hundred shares, then the sum paid
INTO tne' common fund would be five
hundked dollars per month. Thi.
sum e leaned out at the regular monthly
meeting, to some member of this associ-
ation, who is required to give to the cor.
porauon such security as the Board oi
Managers shall approve. The officers
are TO Be elected annually. and always to
be chRsen from the stockholders, each
stockSEer having one vote and no
mots ~ 1bat E,a5l~ having ten shares
shall NH control 4s.sgith 4 having each
two sHses hence it viii be seen that a
i B.y--s' . ssssr~ecs'szf.t.4 sfraly dsfpos
erane il nature.
In regard to the benfts derived from
such an organization, can truthfully
say that they are numerous and almost
untold. II has been aptlycalled "Mu
tual or Co operative System of Saving
and Borrowing Money" The stockho
ders aie divided into two classes, the
borrowing and the non-borrowing class,
which J will notice in their order.
a. is labOrer or mechanic. earning
two and half per day Out Of his
earnings he must lay by SIS per month.
or SlS0per yer for rent, Capd this is the
smallest rent we pay here, l believe }
\ hpus, that rents for SIS per month
will sell for about 81 800 By taking ten
shares IN a Building Association. which
will coz him ten dollars per month. he
is enabled to borrow money enough TO at
once bug his house aud pay for it. He
saves bis rent, SIS per mouth, which
will pay his monthly dues aud interest
on his ban, aud at the expiration of the
series o. stock to which his shares be
long, he has discharged his debt to the
association by his monthly payments
and has his house free from any incum
brance. This result is attained by the
loauing of all premiums, dues, etc. each
month By making the calculation, you
will SEE that share of stock will ave
rage il profits from SS to Sl3 per year.
At SIS profit per year the result would
be 10 ten years as follows, to-wit.
10 years dues, at Il per year......... .Sl2:
10 years profits, at S per year........SsO
Ultimate vulae per share, in ten years $500
This is equal to 81 per cent. per an
num or the cash paid for the averaged
time. At the highest rate, S13 annual
profit, he series will close out in eight
years, vhich will be seen by the following
example;
s yearsdues, at SD per annum ......... : 96
5 yearsayereged profits, at SO per year l04
Ultimae value of each share, in years $500. I
So that in from eight to ten years the
WHO saves SIS per mouth Tor
rent can, by paying the same amount
intofa Building Association, be his own
laudl ord, aud will then be prepared to go
on with another series OF stock as a non
borrewog member. or he can borrow
agaS aud buy additional house and .
lot which he can turn to profit by renting
TO one Of his brother laborers who will /
not take advantage of the benefits of the |
Association.
Those who have no present use for
arge sum of money, and are able to lay
by from five to fifteen dollars per month,
By paying it monthly from eight to elev
70 wears, realize on each share $500, and
IN fifteen shares $4,000. A person sub
,eribing for five shares of stock, by pay
ng five dollars per month, would in ten
fears and ten months, Che longest time
hat is ever required for the shares to re
like 5000 each.) pay into the Associa-
ion $3.50. His stock would then be
gorth 81 .000-S350 more than he has
,aid, which is over one hundred per cent
nore profit than any Saving Bank ever
,ays. A good and sufficient reason for
his advantage of the mutual plan over
rdinary Saving Fund Associations. is,
here is no preferred class to step in be-
ween the working man and his money, /
nd take of the best part of the profits,
ut they inure to his own particular
eneft.
Having now considered two of my
| come now to the third !
nd last ;
This mutual plan of saving and loan
~ excludes the capitalist, and enables !
le working man to develop and turn {
zclusively to his own use all the ad
lntages to be gained by the judicious
Sc of his own money-it teaches him
De power that exists in the ranks of the t
orkingmau when impeled by CO opera c
We, reciprocal action, and united effort, c
I'd guided by honesty and common 5
nse, by means of which he can work 5
1t his own advancement, and at the t
me time feel that while he works he is t
-adually lifting himself step by step i
,ove the dead level of daily toll There a
e three things requisite to achieve the d
lal result, to-wit; Industry, economy, i
ID the mutual plan of saving. Time
ii accomplish the rest, and almost be- d
re he is aware of the fact, the frugal a
an will find himself in easy circum- z
lnces, to say the least. j
So much then for ndividuals-now I
us see what an Association of ten i
ars' standing has done for the commu d
ty. Il has enabled fifty men to sell i
ch house and lot for 81 800 or 81, v
0, and invest that sum in building up
e business of the place, manufactures, a
!, 1t has enabled fifty men to become u
cir own landlords. The additional h
siness created from the sale of that n
piber of houses and investment in the p
f.rent branches of trade has brought d
,'lT a hundred men to the town who j
t;E never have been here but for the s.
oGf of business-these in turn create f
~ Y temand for homes. and the thing y