Morning journal and courier., 1881-11-22
gournal allo Gourier.
HoW To aET A Hoa1E.

I
 Philadelphia is often called 'lthe City of Homes," and with reason, for in no large
 city in this country are the working classes l so we'll of in the matter of homes as in Phil l adelphia. That so many workingmen and
 their families have pleasant, separate and I comfortable homes in Philadelphia is owing
 to the cooperative banking and building as-
 sociations which have long fourished there These associations embrace at this time a l capital of over one hundred millions of dol
 lars and their operations are very extensive. The report of one of them has just been is 1 sued. It is a remarkable document, and
 shows how great an advantage it is for man
 of small means to be connected with flour 1 ishing association of this kind.
 By this report it appears that what is called
 the 'frst series" of investors have, during
 nine years and six months, paid in $114 on
 each share which they purchased. They ceive back now $204 II. The s'second
 series" have paid in during nine years and
 seven months $115 on each share, and have 1 received back SPOOL The total assets of l the association are $97. 323 39; the unearned
 premiums the loans, 2,2OI 62. -Aaking oooOSo liabilities are $66. 6S2 92, leaving a surplus of $29, ,627-85. It would appear from this that
 this mutual banking association of mechanics
 and tradesmen have made more than 25 per cent. on their investments during the past year. and that during period of nearly ten years past each member has received at the end nearly 100 per cent on his investment
 This association has a capital of $10O, OOO l but the whole annual expenses for secretary's salary for labor of committee on securities | for advertising, stationery, printing, rent l postage stamps, books and fuel are onl. | $459 78 The report says, ungrammatically I but with point:
 How to buy home which puzzles the majority of the persons who earn only daily | or monthly wages, without ever seeing the 1 possibility of handling the round sum of one | or two thousand dollars, requisite for the | purchase of a lot of ground and neat dwell | ing, your savings of a quarter or half dollar | day, you have found d. es 1t, from the actu | al fact that you, members of the first and | second series of this association, have now | the one or two thousand dollars in your hands, or, in lieu thereof, comfortabl l home for yourself, wife and little ones to live in and enjoy. Like the coral insect of the ocean, which builds unseen beneath the waves the IOunOaGIOn or DeauGlIu1 1SidnOS, 50 GQ1S association has been building for you in quiet, modest way, almost unheard and un known, the pecuniary benefits and homes you now enjoy; so modest has it been that it's virtues are not known enough to be ap preciated, even by it's best friends; grand collapse or failure would not advertise such associations this, collapse or failure o1 8 savings fund, for the last makes itself felt by the distress it causes, but when a building association dies it's blessings live in com fortable homes, business established through it's help, bonds and mortgages other SC curities, all appreciated because earned bS gradual and hard-earned accumulations.
 The success of this association is not phe nomenal. Others in Philadelphia can make as good showing, and some of the Massa chusetts associations, though they have not been in existence long, have had great sue cess. There seems to be no good reason why the New Haven association should not, in time, do as good work as some or any ot these.