The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1888-07-06
Building Association.

Devils Lake 1ntcr-bccan.
MIR. EDtroR: Willie in your city re-
Gently, promised to write sun,ctl NJ,
concerning the Eull'ling Associulion
Corporations, having had sonc expert
ence with their management. Az
somewhat sat sea-" as l do not know in
what particular place 70 strike. Inncarly
all communities are to be found
Chronic kickers," who are ever ready To
oppose and crush all enterprise that is
sure TO be Il benefit 70 its projectors and
the city at large. Now, do not know
whether you lave any such ",,nimals" in
your city or not, but imagine there ar.
some, at least, who are prone to shout
TITS robbing scheme; man can,
afford to pay 35 per cent. OIL top of that p
lfyour secretary has failed to meet one
of these necessary evils" he has been
fortunate. So not being thoroughly ac-
quaintcd with your particular wants,
what may say will be of general
character.
We will say ut the outset that every
citizen in your city should be u stock
holder in yout building association. The
business man should carry stock, be-
cause his patrons could then pay him in
their account what they now pay land
lord for rent; the laborins man, who is
struggling hard TO p,ovide food and raj
ment for his little ones, should carry
stock, because the association would let
him have the necessary funds at Il low
rate of interest, with which to build him
home for his dear ones, and will make
the payments in such amounts MS will
best suit his convenience, and thus ell
able him To purchase home with the
money he NOW pays his landlord for
rent; the property !uIicr should carry
Stock, because his money is expended in
lnnr,"''"' ..'',' ".."l ...,ntn .,i.;nI, in
cfeascs the taxable property, and, as Il
consequence, decreases his individual
taxes; the young man SHOULD carry
stock, rs Il savings institution against
cold age and rainy days your stock is
good collateral for its withdrawal value;
the minor boys aud girls should carry
stock, in Their OWN halnes, to give them
the business education and stimulate
them in economical habits; everybody
should carry stock, because it is public
enterprise, and is calculated to boom
your city, decrease your taxes, enrich
your purses, and encourage economy III
life and habits.
Every corporation Of this kind is COM
posed oftwo classes of members, to-wit
borrowers and non-borrowcrs, and the
idea is prevalent among those who are
disposed To Look with Il suspicious eye
upon building associations, that the for
mer class suffer at the hands of the
latter, which is very erroneous. Let us
sec, but bear in mind, that although this
is IL clay and age Of progrcssion," "lol-
ars do not grow on bushes" and you
must pay for accommodation, no matter
from what source socver it NAV come,
now il does not take much argument to
convince Il person that money sold at IS
per cent, premium, and 6 per cent. i'll
tcrcst is Il good investment for IL nom
borrower on the l00nontll plan. Here
| it is:
Mlihdrawhi ..........SlW0 90
| Dncs lusharcS. ltDmos. AT ~ cls..$:rm TO
Admission fee. 70 c:S. per SHIRE. $50
5 5os so
Net gain loo months NEUTRALITY-SUSPICIOUS.. S M 80
But the trouble is to convince skcptlc
that it is ju,licious investment for the
non-borrowcr; well, let us see.
We will suppose that the party wants
to build $1,000 house. lie must carry
10 shares to get the money, and say he
buys money at % per cent; he will pay
Dues 10 shares. 100 months at ii, ccntsS 500 Op