The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1889-11-21

BUILDING ANDLOAN ASSOCIATIONS
Shall Henderson Have One?

The GOLD LEAF has toi several
years insisted that Henderson should
have a Building and Loan Association.
We believe nothing would be more
beneficial to a certain class of our Citi
zers and for this reason we have de
sired to see such an enterprise inaugu
rated here. When properly conducted
a Building and Loan Association
proves a paying investment to those
who put their money into it while it
enables the men of limited means
the working Classic obtain a home
in few years simply by paying small
installments weekly OF monthly. In
other words, what they would other
wise pay Out in rents is applied to-
wards paying for a home of their own.
Need anything be palmer thah this to
impress itself upon the average mind ?
We think not. 1t has been said that
it is in tie homes of our land that the
safety of our institutions lies. If it
does not make a better citizen of the
man to own his home, it certainly
makes more permanent one of him,
and we should do all we can to enCour-
age and help men in this direction.
And this the Building and Loan As
ISOLATION does.
Such enterprises have been thoroughly
tested elsewhere Charlotte has three in
successful operation and they are sue
ceeding finely. The Mayor in re-
cent address spoke of the good effect
of these institutions upon the city.
Raleigh has had one for some time
and few weeks ago another one was
organized. Oxford has caught the
spirit and last week her first Building
and Loan Association was Instituted.
In the large cities they are even more
popular. In New York there are over
200 Building and Loan Associations.
Philadelphia has over 100, and Gin
cinnati 400. In all these places there
are hundreds, even thousands, of men
who own their homes, and have saved
their thousands of dollars by investing
their monthly savings in such lnstitu-
tons.
Why cen we not have a Build
ing and Loan Association in Hender-
son? So gieat are the benefits to COM
munities and individuals that flow
from such Associations, and 50 we'll
are their value becoming known that
nearly every town in the State of any
size is moving to secure one. The
Raleigh Gail recently interviewed a
prominent citizen of that place who
gives II cogent reasons why he be-
lieves in Building and Loan Associa-
tons, and with the hope that Hender-
sons progressive citizens may become
interested in the matter we print them
in full. The Gail gives the reasons of
the gentleman as follows:
I. Because | found that penny
saved was a penny gained; that three
dollars l was paying away every week
in rent, paid instead to a building So
ciety, was in a sense three dollars in
my pocket.
2. Because, having instituted a
course of self-denial in order to meet
my installments, the habit of saving
grew upon me, and by this means
was eventually enabled to open a lu-
crative business on my own account.
8. Because through their agency |
purchased property which has since
greatly improved in value, and is a
fair inheritance to leave my children.
4. Because as an investor, it has
been my experience to have my sub
scriptlons, after paying in for a few
years, returned to me almost double
IN amount
5. Because as a depositor, receive