Evening star. [volume] (Washington, D.C.) 1854-1972, 1885-12-21
THE Building Associations.

The Building Associations.
TALK WITH MR.. DUNCANsoN-How AssocIA-
TONS SUFFER- THROUGH THE GREED OF
STOCKHOLDERS.
"Whiic building associations may not pay
large rate of interest" remarked Mr. c. c. Dun
canson, who is prominently connected with
building associations, in the course of a CONVEX
sation with STAR reporter, suggested by the
recent publications in regard to the Georgetown
building associations, "yet they are desirable
forms of Investment tor people who wish TO
save money TO invest in pro erty. As {, rule,
the interest paid on the stock is regulated by
the earnings of the association after the run
mag expenses are deducted. The finance com-
nit. ee eXainine the accounts once "A month or
once in three months, and then they report TO
the directors, in advance of the annual report,
the condition of the business OF the association.
Upon this repor. the directors base their recon-
mendations To the stockholders, who in annual
meeting have the power To change the rate
interest SO as To bring the amount paid out in
the stock within the earnings Sometimes the
stockholders become greedy for themselves and
have no regard Tor the great good of the asSocia-
ton. and refuse To change the hga rate Of in
tereSt. In some associations that | have been
connected with the rate has been changed
from eight TO seven and 10 six per cent. This is
regulated by the condition OF the money mar
kef, although man can afford 10 pay a bald
ing association "a Il CHER rate of interest than To
bank or TO an individual because of the ad-
vantages that he derives from the association.
There Is no difficulty about conducting such
association properly Ii the ordinary rules OF
business are observed. There are Il great many
associations in this District, and 1 don't know
of one that has not assets enough to more than
pay lis liabilities. / think that YOU Will mud
when the ati..irs OF the association in George
town have been filly looked into that there is
probably turn out that there is some four or five
hundred lacking ia order TO pay off i'm full the
stock: l know the gentlemen connected with
the Eleventh association, and l am sure that
they have done nothing wrong
The Sailors Friend.
A MEETING IN THE INTEREST OF THE KEW
ORLEANS BETHEL.
A meeting was held at the Metropolitan
Presby terrain church last evening in the inter-
est of the Seamen's Bethel of New Orleans
Rev. Dr.Witherspoon, or "Father Witherspoon;'
the sailors call him, the founder and man
ager of the bethel, explained the work that was
done ut the bethel. Only $1,000, he said, was
now required 10 complete the building Of the
home. Addresses were made in behalf of the
mission by Representatives Hahn, oi Louisiana,
and Breckenridge, OF Kansas. DIR. Witherspoon
says that his mission Is not concerned merely
with the religious interests of the sailor. Ii un-
dertOOk to better his conditions in all relations
i'm life, and to formulate public opinion in the
interest of legislation beneficial To sailors. At
the bethel there were reading and lounging
rooms, and entertainments were given. Jack,
who had no friends on shore, now found that
in New Orleans people thought something of
him. He was given the benefit Of good society.
As a result drunken sailors were seldom seen.
The days OF "Shanyhaing, or lmDresSiug sail
Ors Wien they were DRUNK were over, ana sail
longer erode the dead horse around the
world This latter achievement was explained
by the doctor as meaning, in sailors lingo that
they no longer were victimized by sharpers on
shore, who not only got all their ready money,
DIR. Witherspoon said that the work OF the
bethel was SO highly appreciated by maritime
powers that the various governments had sent
through their representatives flags to be placed
in the bethel as tokens OF their recognition OF
the services rendered to sailors.
PRIESTS FROM CARROLL INsTITuTF.-Att the
Semi-annual ordination of students of ST. Mary
seminary, i'm Baltimore saturday, the orders of
priesthood, deaconship, sub-deaconship minor
orders and tonsure were conferred upon eighty
five candidates. Rev. p. j. Donahue and L. A.
the Carroll institute, received the order of
priests. Among the members OF the Carroll
institute present were Edmund Mallett. presi-
dent of the institute; Edwin j. Hannah, j. T..
Casey, Henry w. Sohon, John bingham, J..
Donoho, John J. Fuller; Geo. May, John J. Der
mody, John McAnliH, z: J. Coyle, Gregory l.
ELECTION OF OFFrcERs.-Ata meeting of st.
Dominics branch No. 212, Knights OF America,
yesterday, the following officers were elected:
VIM. +. Welch, president; Francis l.. Griffin.
tary; T. s. Walter financial secretary; P. b.
Dunn, treasurer; L. b. Cook, sergeant-at-arms
Thos. Frederick, sentinel; Daniel shannon,
Robert Mcdonald, John +. Mcdonald, trustees
for one, two and three years respectively.
WASHINGTON CATTLE MARKET.-Held every
Wednesday at Queenstown, on the Metropoli-
| tan Branch, B. and o. railroad, three miles from
4 she city, Louis ID. Means, proprietor. 249 head
| of cattle on the market last week; $50 sold,
balance left over Cattle sold from 81, TO :S1,,
| according to quality. 740 sheep and lambs up
| and sold. Old sheep, &c. to 4c.; yearlings 4c.
to &c. lambs, Sc. to 5Izc Veal calves, SC. 10 &c.
| Cows and calves sold from $25 to S55 per head.
State OF the market brisk.
BASE INGRATITUDE. - Thomas Mcnamara,
who resides at ass street southwest met q
| penniless stranger last Saturday and took him
| in and provided for his wants. The stranger,
however, had In his possession note for sos,
and the two men visited Abraham Depue's
store, zoos Ala street, where Mr.. McNamara in.
| troduced his new acquaintance to Mr.. Depue
from whom the latter borrowed $l3 on the note
Saturday night the stranger was at Mr.. McNa.
an overcoat belonging to Mr. Mcnamara. Both
Mr.. Depue and Mt. Mcnamara have reported
their loss to the police, who are looking for the
missing stranger.
| ACCIDENTALLY DROwNED.-Clinton III. Tuck
er, son Of VIM. III. Tucker, formerly resident
Of this city, WAS drowned last week in the Pas
sale river, n. j., while rowing Tor exercise and
pleasure. II is thought that in the act OF trying
TO make fAst 70 . schooner, which was lying al
the dock, no went down. He was evidently
very warm, having thrown on his coat, and the
cold water must have cramped him instantly,
leaving him pOwerless. He was Ia years old, q
bright scholar and Q consistent member OF the
Gurley chapel branch OF the New York avenue
| Presbyterian church Of this city. A card Of
merit, which he priced highly from the public
school here, was found In has pocket.