The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1888-07-21
BUILDING & LOAN ASSOCIATION,

BeaeJifs uonigoid To BE- Derircd from ssci
an Institution.
To those gentlemen who now have un-
der consideration the ACCESSIBILITY al
establishing in this city a building and
loan association, attention Is called To
the following from the Marquette Mining
journal relative TO like institution in
that city:
la THE current Harpers. writing OF the city OF
Indianapolis, Charles Dudley Warner say ~ that
IL h now a rapidly improving city of 12b.OOO
inhabitants having six banks with an aggregate
capitals al about three millions; that the remark
able individual prosperity Of the inhabitants n
OF which there ARE ne'srly one hundred, havngan
aggregate capital OF seven millions aud loans
exceeding those of the banks. These associa.
lions. he says, take the place 81 savings banks
and encourage the purchase OF hOmcsteads.
I'm the city ~ Jackson. Mich. where several OF
these associations ARE IA successtui operation
with a large membership among mechanics and
laboring men, there IL ncomplaint of the reduced
volume 81 money put Ia circulation on pay days
ON account Of the absorption by these societies
OF funds which enter the general circulation
through different channels than formerly More
for labor, lumber and hardware and lerS fornon.
essentials OF all kinds. Most OF the workngmen
Of Jackson are IN these societies aud saving
money.
In this city our building aud loan association
has attained "A membership ofONer one hundred.
has thirty-three hundred dollars a. interest, a
abundant demand for loans. Every man aud
woman IN Marquette who Is working for wages
should become the owner OF shares Ia the associi,-
tion. Young men and women particularly who are
earning wages. and who have only their own
efforts 20 look forward 20 for future homes or
business openings, should own shares. The or
ganiAition IL purely mutual and cooperative.
and viii like thosein Indianapolis and Jackson.
be OF great service Ia tile future growth Of the
city by adding 20 the prosperity OF It's members.
The Individual gains OF the members viii be-
greater than most people could make In any
other way with the same money. A saving OF
Ave dollars per month regularly pnt out at inter
est az eight per cent would AT the end OF eight
wears amount to S6ib 20. while the same month.
IL saving invested with the building aud loan
association will In the same period amount 10
s. 600, a difference OF s3Ba Ia favor Of the
citation investment.
That the individual prosperity observed by
Mr.. Warner la indianapolis IL largely due 10 the
building aud loan associations Il no doubt true
and every member OF the Marquette Building
aud Loan association will enjoy "A profit ON
his or herinyestment which any merchant would
be glad To equal aud any banker ought TO be
satisfied with, being In iact equal 20 twentysix
per cent per innum upon the investment within
the clght-year period OF the association.
The association already has several lady mem
hers aud several memberships are held In trust by
parents for their children, most comfortable
and easy way to provide dot" fora daughter
or n stake for boy, safe and profitable.
Stock la the association II sold at nity cents
per share