Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1886-01-09
BUILD up THE CITY.

, The Coming Organization ofan AsSo-
citation wilicit COmmends Itself Il
Rich and Poor Atike-AOmes for the
Homeless, Profits for the Capitalists
The organization of a loan and build
log association in Yankton has al
ready been partially effected and a CON
summation of the project will be &C.
complished IN a few days. We look
upon this as a movement IN behalf of
general advancement and not a scheme
for individual good. In proof of this
assertion we cite a few examples cleaned
from the experiences of the past.
Among the notices of building and
loan associations which have been re-
ceived since the organization OF the
Yankton association last month, we first
take that of the Girard building and
loan association, of Girard, Kansas, a
place of about $500 population, as q fair
example of what an enterprise of this
kind will do not only for Its members,
but for the town in which it is organiz-
ed. The Girsrd association started in
business eighteen months ago last No.
vember with a capital of 100000 divid-
ed into 1000 shares of $500 each. 1t now
has 902 of the 1000 shares sold, on some
of which the purchasers have paid
premiums of $50 per share. There has
been paid into the association in dues
$l7,S33, in interest S1,439, and in fines,
penalties, etc, S1,4S9, making a total
of $20,76S received IN eighteen months.
Their managing expenses during that
time have been but 1857 55. that amount
paying all expenses for print
ing, books and salaries. They have dur,
shares, building twenty-one new houses,
improving twenty-one more, and assum-
ing six mortgages held against members
of the association by outside parties.
| They have loaned TO members of the
association $20,592. Not only has it
5een an excellent Investment for the
men who borrowed and were thus an
abled to own houses by payment for
them IN a few years, but it has also been
a good Investment for the capitalist, the
net profit to the association being $l2,-
456.98 OF $l3 81 per share, and it has
i probably increased the value of real es-
tate in Glrard twenty-five per cent. This
is a magnificent showing of what small
sums of money paid in regularly will do
In a business point of view q building
aud loan association Is as good for a
town as a railroad aud does not need a
bonus of $4,000 to bring it in. II a
town the size of Glrard can support an
association which will do as much
for it as that, how much more ought
Yankton, with her wealth and enterprise
do?
Ii the people here will take hold and
work with the same enterprise and de-
termination to build up the town that
the people of Girard have evinced, with.
in the next two years Yankton will see
one hundred dwellings erected for homes
foE the laboring men of the town, the
mechanics, clerks, and every man who
prefers to own a house rather than to
rent one.
We have the Northwestern but that
alone will not make the town; it was not
railroads in themselves which made.
Sioux City what it is, but it was the de-
termination of her people to make the
town a city and out of this detsrmlna-
ton they have accomplished it. Moth.
ing has helped more than these associa-
tions, of which Sioux City has four.
They have erected nearly one thousand
houses there in the past eight years and
still the work goes on and it is making
ready for a still larger growth this
coming season. All thisiwas not, however,
accomplished by the parties most inter
ested sitting in their offices and saying:
Yes it is a good thing; there is no doubt
it is O most excellent thing for the town,
but l really don't see that 1 can go into it
Just now. l want it to succeed of course
but l don't think l can afford to take
stock at present." The names of Sioux
City's most prominent men are found on
the list of directors to their building as
ISOLATION. Recognizing that they were to
be benefited as much, if not more, than
any n else, if these organizations were
successful. they were far seeing enough
to take hold and give to them the benefit
of their names and experience and also
to assume the responsibility and do the
work without which no enterprise can
be successful.
Tho Yankton building association
holds q meeting at the Office of e. 81.
Van Antwerp Monday evening, the 18th,
at which time will be elected the officers
and directors to serve for the ensuing
year. Let every one interested IN this,
and especially the members of the board
of trade, turn out and help the enter.
prise along.
Send your orders for ice. I am pre-
pared to cut two hundred tons a day.
CHAs. WALLBAUM.
Stockholders Meeting.
A meeting of the stockholders OF the