Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1888-04-02
BUILDING ASSOCIATIONS.
Tho Benefit OF Building Associations ii
Poor Mes.

Poor Mes.
New York star.
. The Star has given 50 many illustra
tions of the benefits derived that 1t seem
quite unnecessary to quote more. How
ever. here are few examples:
The associations Of Philadelphia ST
carrying mortgages on real estate 70 IN
amour, of $50, 600, oos. These mortgage
are being paid CT IN sums ranging fron
S. to $50 monthly. Three fourths O
these mortgages are on small house,
worth from $500 to $4,000, and the occn.
pants instead Of paying rem. are paying
OF the mortgages, and Will eventually
own those houses st but little more than
they would have paid for rent.
Every three days the year through
three Ia 3 winding up OF shares IN some
one of those Philadelphia building socie-
ties, and then the mortgages are tax. q
out of the safe and cancelled, and another
crowd of happy home owners is added to
the thousands who have previously gone
through with this experience.
Two days before Christmas q society NJ
Eighth and Green streets turned over to
holders of matured shares the Cancelled
mortgages to the amount Of $50, GOO.
And as the shareholders one after
another came up to the sec
re,ary's table and received the papers
which cleared OF all ineumbrence from
the homes for which they I'D been pay
log there were some interesting demon
stretiops of the value of the building
society.
The cases OF two newspaper men are
interesting. One was stesdy, quiet man
of family. He carefully estimated what
he could take ost of his salary and put
into the building society every month
Then he did it, took loan aud bought an
eligible piece Of property. He continued
on patiently until he thought the series
he WAS IN must be near maturity. About
q month sgo he said TO the secretary Of
his society:
"see here, when is this thing going to
en6?"
"By the lst Of March, think" the Sec
rotary said.
SIS 1t sure thingf"
eyes"
A few days later the directors met and
after going over the accounts decided
that the series could be paid on in De-
cembsr. So the newspaper man, with
the others, WAS notified and as he re-
ceived his Cancelled mortgage he ssid:
"PR one OF the happiest men in Pniladel-
phIs tonight. PYe got home worth
$1,000 and not cent on IL. But I'd
never had ii If 1t hadn't been for the
building associations. In that way l
made enough to make the original pay
ment and to clear Of the encumbrsnce.
This is the fest really happy Christmas
for me since I've owned that house."
The other newspaper man had NO fam
lily. He Vas strongly Bohemian In his
tastes, worked on an afternoon paper,
and had jolly good time. II he was
even with bis boarding house and his
tailor each successive New TesI's day
he was doing well. Some Of tine
other boys badgered him about going into
building society. They c q red bets as
shares, and hnally they got bis pride
aroused and he went in with mighty de-
termination to hand over to the secretary
Of the association s15 every month
Sometimes the happy go-lucky reporter
was out of job: then he would go
around to the society and negotiate
small loan on his stock. Flush
times would come sgsin and he
would return the losn and MIX
his payments regularly. Finally the day
of settlement came and the reporter still
had his fifteen shares. He stood at the
table of the secretsry while the latter
counted out In fities $4,000, and IS he re-
ceived the roll Of bills he said: "That's
more money than I ever saw thst could
call my own, aud don't know as you will
ever see me with so much again." But
the habit was formed. The reporter is
once more shareholder In an associa-
tiOn.