The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1889-10-03
IMPROVEMENTS HERE AND
THERE.


Remarks as Applicable to Bennington and
Vermont as to Troy.-From the Troy
Press.
Tire representative of Western
investment company called upon a
prominent Trojan manu- facturer the
other day, and persuasively described
the inducements offered to capital in
Kansas. The enterprising manufaotur.
er replied mo, sir; don't want to
send my money two or three thousand
miles away for investment, when favor
able opportunities are to be had right
here in the city. All we need in Troy is
to be alive. A squirt of Western enter
prise would yield as handsome returns
from capital as the same amount ex-
pended in Kansas city. Why, look at
the electric street railway projects.
Boston capital is at the bottom of the de-
velopment here between West Troy and
Albany, and out to Abba, although one
or two local men are interested. As a
result Boston men have control of good
thing which is bound to pay and which
Trojans ought to own. The develop
ment of the hill back of the city, with
rapid transit facilities, would be a cafe
and profitable enterprise if gone about
in the right way. The shrewd, pushing
man can find as good investments in
Troy as anywhere else, have had
some experience, and know whereof l
speak. No, sir; l don't want to place
any money in the West. 1t is a good
business principle to keep ones invest
ment within easy range of his habita-
ton, Then if anything looks squallv,
the investor gets wind of it early; in
time to save himself"
These were words of wisdom, and we
hope the agent for the Western company
received a similar response in every
quarter in which he attempted to divert
Troy capital to distant parts. The boy
chasing for the silver spoons reputed to
be at the foot of the rainbow resembles
the capitalist who disregards the dia-
monds of opportunity which are glisten-
ing among his daily surroundings, and
looks away thousands of miles for safe
and remunerative chances of investment,
Distance lends enchantment, but the
fascination is of rudely dispelled by an
unforeseen calamity which might haye
been detected and averted if the inves.
tor resided in the same neighborhood'
Wise moneyed men are more and more
looking in their cities and suburbs for
investments rather than at distant points
where they must necessarily trust more
largely to others,
A Troy merchant of excellent financial
standing had about $500 upon which he
paid six per cent, interest for three or
four years. The one who loaned the
money was poor, and was apprsed of a
chance to place his money in the West
at about ten per cent. Notwithstanding
t frier d y oauliJn Ct the mercha t.
who could command plenty of money al
the bank--the lender sent his $500 West
He lost the whole of it. He varified the
axiom that good interest means bad Sc
curity.
The dispatches have just announced
that DIR, Ray V. Pierce of Buffalo has
lost million dollars in a Western min.
ing speculation. Many others lost money
in the same enterprise. II the capital
sunk in the wildcat mine in the far
West had been invested in Buffalo, eth.
er in business, real estate, banking OIL
any other form which DIR. Pierce would
have considered judicious, such sweep.
ing disaster would have been out of the
question. The experience is sad, but
the lesson is very good one.
The law of probability governs wise
investments. While much of the CAPT.
tai sent West has yielded better returnt
than it would in the East, the risk wat
greater. Many men have been known
to sustain large losses in the West whose
Eastern investments have been almost
uniformly wise and safe. No man car
understand the conditions surrounding
capital so well In community where he
is utterly unacquainted as he can al
home. Here he can exercise his judg
ment and diminish risk.
Again public-spiritedness as well al
qordid selfishness ought to influence in
vestment. Every true Trojan should
feel pride in promoting the prosperity
of his own city. Investments ought mo-
to be solely question of security ant
interest. Men of wealth should boon
and build up and beautify their owl
neighborhoods. In this way they car
observe the Christian precept of loving
their neighbors as themselves,