Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1890-02-15

Hence, IN a single evening he cOulC
furnish an acre Of manuscript. glow
ing with thought, for publication mex
morning. Not one evening alone, bu
every evening.
He was also a philosopher of the
noblest type. Witness the following
from his pen:
What is wanted is not so much outside
law, but more law and order in the family
Men are made or marred at the treside Nc
artificial daddy with a parcel of statutes
formal tlubdub and textbooks can take the
place of the natural daddy with his love anC
common sense and big hickory. When 6
man makes the right kind of laws for his OWL
family and executes them, he need not bother
himself about State laws and courts.
And when all men do the same
thing we need have no legislatures OF
courts.
BE Very Carefui.-A late COPY of
the Manufacturers Record, of Balti-
more, gives the following advice to its
readers
Some months ago the Manufacturer
Record sounded warning, cautionng small
investors and home-seekers against rrespon.
slble and foreign managed building and loan
associations. When such an association is in
the hands of local business men, and run on
business principles. it is one of the most COM
mendable institutions, for it is one of the best
work of cd I,
build himsel. home on the principle of the
instalment plan. But when such an asSoci;l-
ton is managed by men thousand miles
away, who in some cases practically gllarall-
tee profits of 20 per cent. or so Il year, the
workingman is nearly sure to lose money he
may invest in such an institution unless the
association is managed under the supervision
of the State and only lawful interest paid,
and we believe in no case is this State super
vision had in the South.
War has been opened upon some of these
institutions in the cities in which they are
maDaged, and when the local press feels
called upon to condemn a local institution,
there must be something decidedly wrong in
that institution
We urge now as we have always urged in
these columns-establish a building and loan
association wherever and whenever sub
scribers enough can be had to guarantee its
success. But manage your own funds
Don't pay SOME concern with hgh-sound-
ing name that has headquarters in distant
part of the country for the privilege of in
vesting the money that you earn with your
own hands, but put your money into the
hands of your neighbors and friends who are
building homes to build upand improve your
own town. Then you not only have your
savings where you can see and watch them,
but you aid to beautify and make home-like
your own town.
These seductive institutions will be a bitter
lesson to many workingmen in the South,
who will see their hardearned savings dis
appear. But the lesson will be a good one, and
we hope will result in the legislature of every
Southern State passing laws to either shut out
or to hold under close supervision these de-
eeptive schemes. Let the newspapers and the
Alliances take up the fight to protect people
from such sharks, and the various legislatures
will soon pass the necessary laws.
Now look at the following dispatch
from Norfolk, Va, under date of
Feb s:
With the collapse Of the American Build
ing and Loan Association of Minneapolis,
comes cry of "sold'' from many a
stakeholder in this city. Early last spring
an agent of the association came here and
organized local branch, putting it before
the people by means of printers ink and per-
sonal solicitation, claiming the association
was the largest in the United States, with an
authorized capital of $50, 000, 900; shares 500
each, PAYABLE monthly on the easiest sort of
terms. Many business men and others took
stock, and the institution iiourished like a
green bay tree. Lately the interest apparent
ly died out, but was quickly revived by the
announcement that the association had
reached the end of the tether. The stock
holders here claim they vii. not lose more
than twenty-five per cent.
And This from Madison, Wis, same
date:
To-day the State Treasurer and Insurance
Commissioner revoked the license by which
the American Building and Loan Association
of Minneapolis, was permitted to transact
business in Wisconsin. The Treasurer will
hold fast to the 100000 of securities deposit
ed by the company for the faithful perform
ance of its obligations to Badger shareholders
till he is satisfied that none of them will be
defrauded by the company's collapse.