St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-29

Saturday night now, but lots OF 'em
who shaved with US regularly never
come to barber now eXceptto get their
hair cut"
The very attractive and readable pub
lication, 1.-THE National Building and
Loan Herald" issued by William Bick
ley, is loaded with information that will
surprise most people. Few have an
idea of the rapidity and extent of the
growth of these associations which the
paper represents, or the proml-
pence of Minneapolis in connec-
tlon with their organization. This
plan of cooperative banking. for this is
the name which more definitely de-
scribes them, had its origin in Mime
apolis. Local building and loan socie-
ties have been in existence for fifty
years past, but the first national organi-
cation was at Minneapolis in 1885. Now
there are ten associations in Mime
apoliS doing a general business, four i'll
st. Paul and thirty others 10
Gated in large cities of the United
States. The largest national company.
as we'll as the oldest, is located
in Minneapolis, and does business of
1000 shares day, which means that its
net receipts amount to 100000 month.
There seems to be a sort of craze for in
vesting in building and loan stock. and
the evidence of the popularity of the as
ISOLATION is shown by the fact that the
first company established is still III.
creaSing in membership at the rate of
Ssh per cent month, and loaned more
money in June than in the first eighteen
months of its existence.
x
Prior to the law passed by the laStleg-
iSlature, which brought these asSocla-
tons under state supervision, the same
as banks and insurance companies, nu-
merouS wild cat associations were
Springing up, and the plan was growing
into diSfavOr, but now confidence in them
seems to have taken firm root again,an
they are all booming. One cause for
their popularity is due to the fact that
most of them offer to double the money
invested in six or seven years and to
receive payment on stock in INSTALL
mentS. 1t is a common idea that a per-
son must build a home in order to secure
a loan from building and loan asSoci-
alton, but this is erroneous, as the
money borrowed can be used for any
purpose.
Talking about gas, the other day a
Nell-known Hennepin avenue restau-
rant keeper remarked, ''Well now |
have always thought the comic papers
were little too hard on the ''meter
man." the "gas bill" ETC., but have
come to the conclusion that the lead
hasn't been half worked yet. Last
month l began TO light my place
throughout by electricity on the Sd,
and did not use any more gas all the
month. At the end of the moon. how
ever, the company sent in an average
adult gas bill. That made me mad, and
after hunting up the bill fol the month
before, which was 50 less, went up to
the office and let out roar that must be
still ringing i'll the ears of the suave
manager. He said it must be some
blunder: that the bill was made out for
another man and sent to me by mistake.
said 'PrQbably," and he made my bill
So, which paid.
Another man whose house on Hen
nepin avenue was closed for two
months, While he aud his family were
at the lake, got notice when he returned
that unless his gas bill for the
last two months was paid the sup
ply would be cut off. He told the
collector that if he could get into the
house the bill would be paid. THE
place has been locked up for sixty
days" said he, land not a gas jet has
been lighted during that time" The
same explanation was made in that
case as in the one before, and it went"
as usual,