Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1888-11-09
The Result in Vermont.


main fight in September and as was ex-
pected the total vote iD the national cleo
ton shows considerable shrinkage from
the splendid figures of our State election.
The total vote will probably not exceed
6i,000. The largest falling off is in the
democratic vote, and Harrison's majority
VIII not vary much from Dillingham's
which will be gain Of about 5000 on Mr..
Blaine's plurality OF four years ago The
third party vote shows slight increase
over the September election, but is not
likely 10 exceed 1000, or to equal its di-
mansions Of four years ago.
Cooperative Building Associations.
The bill introduced by Dr. Holton OF
Brat,leboro, authorizing the formation Of
cooperative building, savings and loan
associations in this State, allows fifteen
on more persons to Join together without
capital and form aCo-operative association
which, when 1T receives its charter under
the general law may organize by adopt
ing bylaws and begin business Five
hUrdred-Dute or less-sltares are issued
ut tie paid up value of 500 each, aud each
member subscribes for as many shares ~
sta.iments. Tho monthly Instruments
or dues, cannot be more nor less than 81
per month per share, SO that if member
subsoribcs tor five shares Of a par value OF
5000, be pays 50 per month, or for ten
shares ut p par value of $1,000, he pRys SO
per month. Each member receives his
share If earned interest on the monthly
payments, the dues drawing interest from
the day of payment.
After he first year any member will be
entitled TO borrow of the association
money equal to the par value of his stock.
That Is, if a member has subscribed for
ten shares at par value of $1,000, though
he has paid but Sl20 thereon, he s entitled
to borrow 5000, or any part of It, to invest
in home, the association taking mort
gage on the property and a pledge of his
shares. The borrowing member must pay
Interest Oh the loan aud taxes and insur
ance on the property, but instead Of max
ing payments on the mortgage, he keeps
paying monthly dues on his stock, and
when his stock is paid for the stock can
GELS the mortgage. He is of course all the
time receiving back interest on his monthly
dues. A member will pay say $40 month
on his stock, So month on his mortgage
and about Sc month on his taxes and in
surance, providing he borrows $1,000, or
about $50 a month rent. But the Income
froin bis stock will gradually decrease the
interest, taxes and insurance till finally
the one will balance the other, and toward
the end more than balance the monthly
payments.
1t is claimed such an association fur
nishes means of investment more re-
munerative than even Western farm
mortgages, and far safer and that of all
the various plans in vogue for acquiring
property, by small periodical payments
from current wages, the building and
loan associations provide the best. The
figures of some of the associations seem to
bear out this claim. Our readers will re
member that associations of this kind re
ceived strong endorsement from Rev. Ed
ward Everett Hale. when he was in this CITY
last spring; and if the bill becomes a law
as no doubt it will, we shall expect to see
| thriving association organized in this
city.