, 1875-12-26

We think absolutely neceasay: snd which has
proved SO successful in philadelphia.
| The serial plan is now in successful opera ton
in Philadelphia and has been adopted by the
Peoples Building .7d Loan Association In
reference to the system OF accounts With mem
bers, I will Say that no system has been adopted
| save what is necessary to The full understanding
or shareholders payments and tho simple. plain
allowing Of the business transacted daily BY tho
Secretary, 80 that the Affairs OF the Association
| era. am authorized By the present Secretary
10 say that with over 400 shareholders
now paying dues to the Association. the clesicas
work Of the Office does not require over one
hours work daily. but his time is fully occupied
in explaining the practical workings of tho Asso-
ciation to new subscribers.
venture to say that had Frankford" gone
to the Office Of the Association be would have
been surprised at the simplicity Of the mode OF
keeping the accounts. STocKnoLpEK.
| SAYINGS EASks AND BUILDING ASSOCIATIONS.
To the Editor Of Tia Chi:aae Tribune:
CHICAGO, Doc. I'll notice in recent issue
OF your paper communication referring to
what are technically termed Loan and Building
Associations; and, in WOW of the disasters that
arc almost daily Detailing that class of our citi-
zens who are endeaSoring from their often too
scanty earnings to lay aside little to provide
for the possibilities Of the futnre the impression
eeeIas 10 oe 1aplo45 ss'''ns 6Aoana tt'a* .ne4o
ID radical defect IN tho System OF savings here
tofore offered to the pubic, aud il there be any
rernedv or Improvement within tho reach Of the
,,..,,o .hnr. rouo t;,,a ,r,.,, Il r,s 7,oro
needed than now
Almost daily OF late 10 $50 ohron'cled some
disaster of this kind; aud every now and then the
,nwa,con,e neyvs snr;nps firm, onr ovn midst-
v,r;ons schennes nrn offered tn the nub]io In
the ehane of inyestments for savings. Of the
safety OF which the average depostor ia as
ignorant as he il of the rules Of the Bank OF
Ene1.nd Nor is onv wsv ossrAd vherabv ofhis
own know1edro and under his own obseryatiou.
can he ohta,n acrnal information of the value OF
tho securities or the safety Of the investments in
which his money ia nIaced
Ho nnst n1ora his contiience in .nd take tho
,sar1snca of IA manace1s that II IL ali rrht
and 5rocs away onlv too often to lind his conf
dence has been ,,,isp1acod and his money wholly
or ia part lost.
Disnonest parties succeed almost daily in get
two IN ,nd n;sann-onr1at,no tha nonev nr sink
inr it entirc1v IN Reckless snocnlation.
Rot tio+ ~ hsvo M in onr citv welt,rnsnnrel
.,d re1iah1a .ne,;+nt;ona of fh;a character hut
=, -;aI - 80 a~nor;onco ~ The Chirooo nnhic
,r;tb;,, +ha 1,st vear fhlre certainly neyar was a
tine muen 81 49,. ta ros"at snd th;s
.n-e ~ ~ ~ cona,doration NJ tho svstoTo
$3.50, ~ o.n .nd H,1;dnc Aesoc;otions ahova
rafarra5 ~ .rhich hs,o hec1nno sn larre]y nopu
l.. %Inn ritf1c
'AI phi,aaeins H. 10 and IN recp;vo and rav m
.ha1 ~ ch.rnal ~ these associafions
-. 1"ay:g a,a .-,;,,;n, ~ da,1.ra ~ nonth,v
a. :; ~ ~ t,a n,anar ~ snaenIstors or of cen;
+,1;sts II - roada IN of tha naonfh1r eav,nrs
~ t-s5osmar roache,;ce l,hnrars nn1 o.n
" 1 at;t,4' .,.a tona an5 ;nas IF tha
p;.o3 p;.: q 1A@' S>'1'''''9$~ >@4o @>>~'o ~NN
srha safatv of tbese jnstitut;ons It in claimed.
:ns t, ,,,,a +ot,raa ~ ,,o;- org,nig,tion.
Tar-- danos;to~ ~ na1her .s he noust hel
-
-aana- - 1.'"'>~" -
:xz.,+,,av+a Nv loans .ro r.da to aov
hrt tte ,narnhe1s .,d a,ct, 1nan hccornes a watch
~, ~ o,hars and ~ raadv to sonnd thn alarm
- - -; ~ hs 1,,;';ar 5orrar +brearara
- 1i,a | .1nnar nsid mo +Lese 4zsnc;.t;o7s can
ha ,a.asta3 Crfr in ona class ~ aecur,t,es-
~ ..,,a ~, , e.taje toe vaIna nf 1rl,,c i, onan
~, 10 ;nves.,ession of e.ch individual memper.
E.;;unv and cnnstr,,ct,on company bonds and
aarara5 nrom,saa ro nav ara ali r1Ied out.
Tha 1oaI,e sra camnsrst;gejv small and IN
~ 80 ,,n1ch.sa ~ ,r,1rovarnont of hnmastaada
~ ~. tns .as a. cIass ~ neona that comnosa til.
1,anhe,sh;n and cont1itulte the sayincs.
San7nas h.nkss To often become ambitious of
1s-1s +anssc,;oos thcrehv ,nc,rrnc ,ha risE Of
"n,S5as,,aoS;na -. 20 ~ iosscs
IN thaso Associa:ions, tho loans being small
snd sn;tad onlr IN tba neada of the memEers.
snj ,;th m other ambition rhan safsty tha risk
"a 9aanced IT. to tae yerv minimum,
Thasa Aa.ociafions thonoh narer hold-
80 ~ nIee ha,d ~ ,araa e,,n,a 0f money at ona
+;FSa a+arthessa ra1,ra of all tne;r officera on
srhoro 800 raanons;htv for the care and eood
.,anoaament nf the details of tia business
sds ,u;th .da,rata sac,r;tv f,r The farifnl
9,srns,na 9unus "st nf ,he;r trnsts,
e Thcnoh a mamher nf these Assnciationa in
series OF years. be can at any t1n,e withdraw lis
paymepts with interest and profits under rules
/ easily complied with and sever his connection,
thoueh tue system Is soatlangea snaL lne lonKes
HaAarthaaas III thsra Il -, n,;ut t;xad at