The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-02-03
the $3.50 gives s2l5. Will she give notice
Of withdrawal? When could she have the
money? Perhaps in month?
on, THAT WOULD NEVER DO;

the $3.50 gives S2l6, Will she give notice
OF withdrawal? When could she have the
money? Perhaps in a month?
Oh, THAT WOULD NEVER DO;
she must have some money now. Why
not borrow the mOneyoh the Eve shares
She had thought OF that, but had never
been in debt before, and hesitates to CON-
NIT herself. Perhaps she might find It
hard to repay the loan. Still, il issuch
good chance to better her condition, and
it would break her heart to lose 1t. Has
she no friends, no money or other prop
erty? No; Nothing, save her two
hands and two suits OF clothes, and-one Is
worn-iust little. Couldn't he help her
in the matter? She never attended one
Of the association meetings, and wouldn't
know what to do. Yes; he will help her.
The association isalways ready TO lend a
helping hand TO its members. They are
all partners in the bank together. He
will bid for her. The auction takes place
tomorrow night, and II she will attend
he will arrange it for her, and gladly.
How much money does she wRnt2 Per-
haps SIPS would answer. Oh, il that is
all, II can be easily arranged; and the girl
goes home feeling comparatively happy.
oSTHE EVENING OF THE MORROW
she appears at the little hall where her
bank sells its money. The sale is active
at first, and she fears her little loan will
fare hardly among all these eager men.
At last il Gains down, and she hears the
secretary bid for one share. Itstarts at
twenty, and climbs slowly up to twenty
five, six, seven. 1t keeps on up to thirty,
and there lis knocked down to the Sec
rotary. Again and again the secretary
bids for single shares, and she wonders
how many other poor girls like herself are
appealing for loans through him. AT the
end Of the sale number OF men and wo-
men press round the secretary to hear tho
fate Of their bids. He manages to speak
an encouraging word to her, and, having
paid one dollar for the new share, she
goes home happy.
Perhaps that very evening the direct
ora consider and allow her little loan, and
the next day she calls at the secretary's
Office, signs the proper papers and gets .
check for Sl40. She transfers her five
shares as collateral security, and the SC.
curity explains the transaction to her.
She, or her agent, bid for loan OF $500
on one share in the last new series, and
gave her share, now worth S2l5, as &C.
curity. The premium was thirty per
cent. This has been taken out and leaves
Sl4O. She has now to pay one dollar a
month on the new share, the installmcnts
on her five shares, and the interest on two
hundred dollars ut six per cent. This she
pays dollar at a time, each month II she
wishes. That is 81 month in all, and
if at any time she wishes to repay the
loan she can do SO by giving in the money
or by Withdrawing some OF her shares, or
she need not pay it at all, but merely let
it pay itself out Of her profits in the asso-
citation. She thanks the old gentleman,
though not without n shade OF doubt.
Only Sl4O and her shares, il she had
withdrawn them, would have brought
S2l5. But then they have face value Of
$50 each or $500. By borrowing instead
Of Withdrawing she has saved all that.
A WHOLE YEAR PASSES,
and she again calls on the secretary to
see how her affairs stand. She has made
little something and would like to re.
pay part OF her loan. The secretary ex-
amincs her account and finds that it pre-
scnts this cheerful aspect: the interest
has been paid, so that is happily out Of
tho way; the installments paid on her
FIVE shares, now held by the association,
amount in the four years to S4S on each,
and the declared value OF share is SSl,
or $4O5 for the five; the installments paid
on the one share she borrowed upon
amount to Sl2. Then her debt is paid
twice over? Well, perhaps not. We
We must only consider tho withdrawal
value il she wishes to pay up in that
way. The last premium offered on with
drawal was Sl2, so that her FIVE shares
may be withdrawn and will bring her
$500; this, with Sl2 on the new share,
wiIl-make SSl2. In other words, if she
gives notice Of withdrawal her debt will
be declared paid, and she will receive
SIP in cash, with tritle more as inter-
est on the Sl2 paid on the new share. She
isgreally pleased at this showing, and says
she will Withdraw. Stay moment! viii
she not lose as much more? Yes, the
bank will gladly pay her $500 for five
shares, for they are worth SSl each, or
S50l in all. She can do us she pleases in
the matter. She considers this moment
and then asks il she may not repay part
of tho loan. Yes, but why pay at all?
Does she not need the money in her bust
ness? Yes, very much, but she does hate
to be in debt. Oh! that Ia nothing &C.
rious. 1t is quite as much for her in
terest not to pay 1t rs it ia for the
banks.
ANOTHER YEAR PASSES,
and she calls again. This time abe feels
that she must really withdraw. She con.
iesses with blush that sho is going out
OF busincss-John, hc-that is-well,
what does the secretary think about it
What are her six shares worth now? The
first five are now declared to be worth
$40 each. The year has been prosper
GUS one for the bank, and her share OF the
profits makes her FIVE shares worth $3.50,
Tho one share, now two years old, has q
face value OF S37 so. In all, her shares
are valued at 1857 so, or 1857 so more
than her debt. Her eyes sparkle at this
brilliant financial statement, but she
wants more ready money. She must with.
draw her shares. All! yes, the withdraw.