Mexico weekly ledger., 1885-02-05
Building and Lean Associations.

improved pubic spirit IN MissouFf u
the organization of building and loan
associations in many Of the thriving
! towns. 1t is the outgrowth OF q de-
mand for improvements and sign OF
enterprise. There is no need for
these associations in indolent, stag
nant communities where no new
houses are demanded. L. is only in
vigorous, industrious and thrifty
communities; where new accessions
are being made to the population and
the people are active in developing
their fortunes, that they find a field.
There are such communities all over
Missouri. Towns of 2 500 to $500
inhabitants show building business
last year of $4,000 to $50. 900
and it is in these that the wholesome
principle Of cooperation involved IN
building and loan associations finds
its opportunity. There unay be few
money men in such towns; there
may be little capital available for
useful enterprises. But the building
| aud loan association comes in to
meet the want. 1t enables forty,
fifty or hundred persons of limited
means to make fund of capital by
pooling a share of their earnings
At first the supply is small, but it in
creases with every monthly payment
until it becomes potent agent Of
usefulness and improvement. A
building and loan association IN a
prosperous town places it in the
power Of al Industrious poor man to
secure house of his own for but
little more than the rent he pays for
a house belonging to another. When
prudently managed they pay out in
eight to twelve years, and the share
holder finds that his monthly pay
ments have secured him q home
worth $1,000 to $4,000. which he
could not have paid for in any other
way. This Is one advantage. An
other of scarcely less value is the
habit of methodical economy it
teaches. Many man of limited
means wastes in eight years al
amount which, if carefully saved and
funded in building association,
would build him a comfortable house
ALI capital is money saved, and the
mechanic or laborer or clerk who lay:
, by portion Of his wages has Bo
only negun to be a capitalist in
!, way, but has learned the secret o
, independence and comfort
The above article, clipped from tn
st. Louis Republican, contains som
e valuable food for thought on the par
!. of all citizens. A building and loa
S association should beyond doubt b
: established in Troy. There are man
men in the town who would bull
residences if they had such an oppol
tunity as is offered by one of thes
institutions. The greater number Q
houses that are built in our town an
g the more opportunities better price
. will be realized on real estate-henc
:, those owning real estate suitable fc
! either residence or for bushes
houses should feel an active interes
in the establishment of buildin
and loan ASSOCIATION III Troy. A
those persons who now pay hig
rents should take an interest in tn
- matter, for by having it establishe
:. it would be possible for them to ha,
T. houses of their own, built with mons
>, borrowed on long time at low ra
of interest,". And those who are an
:, ious to see our town rapidly impro
~ should aid in starting the associatio
a. There is no plan known by Whit
- building and improvements are
much encouraged as by this. 1t
our candid belief that at least tive
ly-five more dwellings would be bu
81 IN Troy within the next year or t'
- by the establishment of the asspc
= ton than there would be should t
ASSOCIATION not be established. L
citizens of Mexico recently organic
an association of this charact
starting with two hundred share
IN on the day of organization eve
share was taken and there were ma
no applications for stock that could I
he accommodated. The names
- those who took stock. as given in
Mexico LEDGER, embraced some
49, the very shrewdest and most en-
ge;ic business men and capitalists
,;u the town. If they see that such
:. ent, rprise is calculated to ben
them why cannot our business II
;oa and capitalists see similar adv
-, tsge TO themselves. The history
the past has shown that those +
49,, towns in which these associati'
have been formed hare grown
less than one hundred per cent. Il
er than those which hive never
=, such an institution. And the est
~ fishing, without single except
resulted in o boom of building
growth such as had never been knt
a. before in the history Oft those tov
Let's discuss this matter and esl
,n,, lish building and loan association
soon as possible in order to be re
for the spring and summer builf
campaign. Let's do something
wake up our town, to place it on
aol- eqral footing with any town in No
H. =