The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1884-03-13


tIo=s are very great. The money they
take in from their members is all kept
at home. and in constant business circu-
lation. Neither iIterest or principal
goes cart If an eastern loan agency
has 100000 out on loan in Kansas, at
say 10 per cent per annum, in ten years.
sum equal TO the entire principal has
gone back east, and the principal still
remains to be paid. Ii a loan associa-
ton has 500. 900 out On loan. both In
terest and principal remains in its own
neighborhoOd, and capital accumulates
as home SO that our citizens become in
dependent of foreign capital.
Loan associations also tend 10 lower
rates of interest generally. They offer
loans on terms which borrowers can ac-
cept unless they can do better elsewhere.
They compete with other financial insti
tuuons for customers who want to Dor
row money. The result is that debtors
generally pay less interest for long time
real estate loans than if they had no
loan associations to go to when they
want to borrow.
The individual benefit is very clear.
Hundreds of families in EmPoris own
and live comfortably and contentedly in
their own homes, because they borrowed
loan association stock and paid loan as
sociation dues for the money they Dor
rowed to build with, instead of paying
rent into landlords pocket. Hundreds
of residences have been built IN this
way that would not otherwise have been
undertaken, This building has furnish
ed employment to hundreds of
men whose wages have in turn
been paid TO merchants for provisions
and other goods This has called for
more store rooms, and capitalists have
in turn supplied this demand, and thus
more employment and more business.
These Improvements have increased the
value of real estate. This has increased
the taxable valuation of property and
encouraged public Improvements One
result has brought forth another, all
mutually beneficial, until it can now be
very clearly seen that the growth and
prosperity of the last ten years IN En-
pOria is very largely due 10 the existence
of loan associations. Poor and rich have
been benefited.
The moral benefits are quite as valu-
able as the material. Habits of frugalIiy
and good management of small incomes
have been formed and strengthened.
Those who have not borrowed have
been taught how to save and accumulate
capital. Their savings have been abso-
lutely safe, and have been returned to
them with good interest. Any one who
could put by 25 cents per week has been
afforded the best inducements to do so.
Those who could save larger sums have
had proportlonate encouragement. And
how are most people to save unless they
do it from week to week, in little sums,
under systematic effort? Not only ev-
cry man, but every woman, every boy
and girl, almost, IN Emporia, can read
lily save, safely invest, and receive good
interest, upon all sums from 25 cents pei
week upward, by purchasing loan asso'
citation stock. Those who fail to avail
themselves of such opportunities are moi
provident, and will simply have regrets
to pocket instead of money.
While the wealthy can and do take 40
vantage of the loan association plan Of
investing money at interest, the real OBJ
| ject of loan association is to furnish
working people, those who depend or
their daily labor, with facilities fol
saving what they can spare each weeI
from their limited income 1t Is they
who should buy loan association stock
1t is about the only way in which theI
will save money and get ahead of cir
cumstances. The attempt is safe and al
most invariably successful. If they f1nC
they cannot keep up the week
ly installments they can simpl,
stop end draw out the money they hav
paid in. There is no risk about it, Tn
fact that wealthy people also invest Il
such stock is simply evidence that tn
investment is safe and profitable.
Loan associations are, therefore, il
every point of view, for the public good
They deserve the good will of every
body, for they benefit everybody, espec
tally every property owner. They Der
eft every business man, every working
man, every useful interest and industry
. All who desire loan association stoci
to be paid for in the usual weekly insta
. ments of % cents per share, with propol
tionate benefits for all additional pay
ments made at the option of the holGe
with a yearly dividend on the averag
paid IN value of the share each year, {
the right to withdraw the money pal
in with 6 per cent to date of Withdrawal
can subscribe for one or more shares {
the Emporia Mutual Loan an
Savings Association, which is go
receiving names and Will begin busine!
: in April. The books are open at til
stores of John Bay. Griffith 81 EwinI
and d. Fox s. Co, or names may
given to any of the directors, as follow
J. John Bay, r. E. TorriDgtoD, 1. d. Fo
:. w. s. Jay, w. j. Jones, D. w. Eastma
Il. B Morse, w. F. Ewing, j r. CIR
ham The usual registry of % cents p'
o share will be necessary 10 insure Il
e subscription. a large number of sma
o stockholders are preferred. One, tw
Il three, tour and five share subscription
d are desirable Let no one hesita
a 10 subscribe for one share,
y think that one share is not important.
great many stockholders, with one or
few shares each, is more desirable tht
}, few large stockholders. A loan ass
d Grafton is for the many, and for the ge
ersl good, and the greater its number
members. no matter how few shares
J. stock each holds, the better.
J. II will be we'll for every reader 10 CO
"a slider this loan association subject al
either purchase stock in either the pre-
c ent or the new ASSOCIATION One shs
8 is altogether preferable to none, al
y many small shareholders is the best pc
n sible condition of an association.
The AMER1CUS News
A. KDITED BY " BURLoW."
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