The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-04-08

Perhaps there is no city in the United
States where Building Associations have
flourished more extensively than in Phila-
delphia. There the business Of building
has been carried on almost without inter
ruption during the depressed times since
the panic. This, too, Notwithstanding
the number Of houses advertised for rent
and for sale in that city. The decline in
real estate and in building material has
served to stimulate investments on the
part Of capitalists, who have regarded this
form of investment as not only specu-
lative but sale; as bound, in other words,
TO pay in the end better than almost any
other form Of investment. But outside Of
all other influences the building and loan
associations OF PHILADELPHIA have exer-
cised a most important and extensive in
tluence in keeping alive and prosperous
the business Of putting up cheap and COM
Portable dwellings. The opportunity to
buy ground cheap and build modest
dwelling at alower price than formerly
has been availed Of by thousands of work.
ing people who were anxious to save rents
and provide q permanent shelter for their
families.
The prosperity Of these building associa-
tionsis something that Philadelphia may
well be proud Of. The fact that there has
been no material deialcations and none OF
the rotten developments that have come
to the surface in almost every species Of
corporate management Of late years, has
spoken volumes in their favor. And
what is peculiarly to the credit Of these
concerns is that they have been generally
managed in a plain economical way by
workingmen themselves, instead Of by
high priced fancy officials. We have been
particularly interested in the exhibit Of
one Of these self-managed institutions
known as the Artisans Building and
Loan Association. The Secretary opens
his report by congratulating the Directors
on the continued prosperity of the society,
especially as there had been 80 many pre-
dictions Of its failure, owing to the want
Of business experience among the work.
ing clssses, and because they were "ignor-
ant Of the science OF political economy"
The Secretary, however, claims very SEN
sibly that the science necessary in manag-
ing cooperative bank is the same essen
tally as that needed by housewife in her
dairy, or tanner in his leather.dressing,
or a manufacturer in his cotton factory
namely, common sense and economy. He
adds:
"In looking for the managers Of these
associations you are quite as III not more)
likely to find them in the walks Of the
mechanic and laborer as among the teach.
ers Of political economy. Disastrous and
very distressing failures and bankruptcies
by the hundreds, you know, have taken
Mace among savings funds banks, and
bnsiness houses, managed by these politi
cal economists, Uho could spin you homi'
lies on that theme by the yard, whereas
Buildine Associations have been managed
sucsessially by the working men them
selves ior the last forty years, who perhaps
never read word on political economy al
such. In all their lives, working out these
associations with such gratifying results q
have challenged the attention OF the whole
world not conducting them as hirellngs
whose interests being only in their salary
rather than in the profits and net result
of the business, but they manage then
without fear and without favor 70 any one
striving ior the best interests ot the mem
hs,s without money eF price. Therefore
Il IL a source OF G6pgrstptation thAt yoI
have not had to call in the capitalist u
order TO have brains, and so lar as yos
: have applied yourselves to the building Q
your own fortunes, is shown your aolIlt'
, n The prosperity. aud great success woI
in his associatioh, demonstrating beyon'
Question your capacity 70 c0mpaie " 9lsnl "
! IteSs with capitalists. The opportgnltle
tn show this are plentiful here In this elty
ior here you can find at least seyenty.ny
working men and women condnctln
} these associations and handling milton
/; Of capital. aud putting 70 their accou1
3 and In their pockets many tho4sSAp
= of dollars profit that in other cities 9
into the pockets oithe landlord and cap
talist' Thesa stubborn facts throw th
snsmv's ranks into confusion further, u
faet that thousands In this city in o sho'
a time haye furnished themselyss WY