The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1882-09-01
A nurLprs0 AssoO1Ar1ox.

We must reiterate the desire appraised In
these columns couple Of weeks since Tor
the organization of building association.
These societies are Incompatible In the
work Of building homes 10 town and add
ing strength and stability to . people. In
the east they are very numerous. The city
Of Philadelphia owes It's prestige ~ city OF
homes to their influence, there being over
i've hundred associations there, with an
aggregate capital Of 500, 5000 They
do not give 'boom" or . "rush" to
place, but they do give . steady, reliable
growth that 10 more valuable. They form
incentives to all, especially to men aud
women working on salaries, to save money
and build homes. They are vastly superior
In this particular to savings banks.
The plan Of the organization Is very sim
pie. A company Is formed with say .
thousand shares of the par value Of one
hundred dollars each. A payment Of twenty
five cents week is made on each share
until the par value 10 paid In, when the
company or partnership expires by limita-
ton. II Is usual to limit the humber OF
shares taken by each person to ten or
twenty shares. As soon as Eve hundred
dollars or more Is paid into the treasury, 1t
Is loaned out to the members Of the associa-
ton who desire It for building purposes or
TO pay debts on buildings, the association
taking mortgage on the building As security.
The debt 10 then paid by tie payment On
the shares, and the borrower is entitled only
to share In the profits Of the concern but
not In the capital, as he has Withdrawn bis
cart of It. Some societies loan the money
out BY drawing lots among those who dssiie
70 borrow other loan the money to those
who will pay the greatest bonus, this plan Of
course giving the most profit to the society.
A few societies build houses for renting or
or sale. ~ D. G f=. ..
Tho advantages are obvious to ell who will
consider the matter. They enable men OF
small means to build homes In advance OF
earning the means, practically making the
rents pay for the property. This possession
Of homes makes men more settled, more
steady, more reliable, and gives . town the
benefit of these things. The necessary week
~ payment cultivstes the principles d
economy and providing for the future ths
cause oil improvement through the accumu
lation OF capital. 1T causes the saving .
money that would otherwise he fritteret
away because cit don't amount TO much
Il teaches workingmen how 10 manage prop
erty, and 30 fits them 10 acquire and pieserv
competence aud wealth. The possession o
property interests every man Ia the econom
ical management of public Affairs, In tn
protection of property against dangers Of al
, kinds, IN the establishment Of schools. iibrs
ries, and oil public Improvements that wi
tend 70 increase the value Of property an
/ also make life more pleasant and valuable
4 A these are qualities much TO be desired
Z Deer Lodge, the "home town" Of Montana
earnest effort should be made TO form q
: ciety that will more than any other one thin
:, add to these elements. .lH...r5rEa I
!, But these are not the only consideration
1 In favor of . building association. Exper
1 ence has shown that such institutions yiel
] larger interest on capital invested than
! ordinarily paid. For this reason II no 9TH
i they should receive encouragement ar
support from the men Of money and capita
/. Shares In the associations almost invariao
/, command premium very soon after all hay
! been taken. The money invested could M
! be more secure. No large sums are aliowe
1 to accumulate In the treasury, 90 there IL .
I chance for wicked cashiers TO run away vii
1 the funds and leave the concern bankrup
d The expenses Of managing an associationa
4 very small snd brought 70 the lowest poin
We would therefore urge upon the either
: Of Deer Lodge the immediate orgahizatio
Of building association. One with u
: strength Of thousand shares would hay
$4,000 q year to expend In buildings.
pleasant little home could be built ever
month and no one would be financial
Strengthened TO do 20. Or those now indeb
) ed for their homes could be relieved Of u
burden Of heavy interest and their energi'
strengthened In another direction. The tow
! would be SLED with home possessing, hom'
b staying, homs-loving people, an, the futul
( Of the place would be beyond all doubt.