St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-04-29
ONE ROAD TO WEALTH.
Save Small Sums and Invest Them
in Building Association Stock.

H..
Among the many institutions devised
by the fertile brain of man for the
benefit of people living in large cities,
none rank higher In the estimation of
is patrons than building associations.
There are upwards of forty of such
societies in successful operation in this
city, and each year more are organized,
and, like their predecessors, are sue
cess from the start. Amongst the
many building associations organized
in the city of st. Paul, and the period
of time covered, there appears to be no
failures, but, OH the contrary, all have
been reasonably successful. The reason
of this is there is very little expense
connected with the conducting of the
business; no salaries paid save a small
compensation to the secretary, and the
loaned out OH good security approved
by the directors. Money loaned and
reloaned for the period of 100 months
will accumulate very rapidly, and per-
sons of small means who can take adj
vantage of such an opportunity will, at
the expiration of that period Of time,
find that they have been handsomely re-
Warded for their savings besides having
learned a lesson of practical thrift and
ecOnOmy-qualitieS and virtues ALSO
lutely necessary to successful and USE
full life. Shares are sold at 25 cents
each and expected to mature like other
associations in 100 months time, or eight
years and four months. Twenty shares
would require d monthly deposit of S.
with the association. and forty shares,
$40 monthly making at maturity $4,000,
besides enjoying the valuable privilege
of withdrawing at any time by giving
the association thirty DAYS notice and
receiving every dollar paid (save the
membership fees which usually are Is
cents per share) and share of the So
ciety's earnings during the time of men,
bership. Save your earnings, and no
matter how small they may be, try and
save little even S. per month,
of those associations will secure
$1,000 at expiration of eight or nine
years, neat little fortune in itself, be-
sides stepping stone in practical econ
Omy, towards securing competency
that is rarely secured except by industry,
frugallty, perseverance and Self-denial.
Five dollars per month deposited with
Building Associations may secure other
blessings besides the handsome bank
account of $1,000. Such monthly due
may cut Off other unnecessary eXpendi-
lures. Such monthly dues will encour-
age temperance in all things as well
as liquor, frugality in all purchases,
economy in the use of what we have,
perseverance in the pursuit of food and
noble objects, stability and firmness to
persevere in good cause. and last but
not least, to embrace golden oppOrtu-
mites when within reach of youth
and vigor-the means for begin
ming and securing such desired ends.
The question may come up and very
naturally it should, how can such
association be so profitable without
working an injury OF bring hardship
to people who borrow from them? The
reasons are plain, although the borrower
pays little or no more than the banking
rate of interest Is per cent?, yet:the as
of there being very little expense con-
nected with its management, and the |
funds allowed to accumulate in interest |
bearing security for a comparatively |
long time 600 months). The interest |
compounded for the period it is set |
aside, will double the principal. Loans |
are made by associations to people who |
could not secure money otherwise to |
build homes on account of the amount |
asked for, and distance and locality. |
Straight loans are made on property in |
favored parts of the city not to exceed |
40 ar 30 per cent of its intrinsic valua-
ton, and in many offices money cannot
be secured until buildings are COM
pleted. Good as this plan may be. it would |
simply deprive many good, industrious |
and honest men from securing a |
home, if there was no other avenue |
open to him. The building associa- |
tons then hold out their advantages,
loan from Is 20 Sc per cent. Of the saiue |