St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-09-14
ADMIRABLE INVESTMENT.
A Plan in Which All Glasses of st.
Paul Are Interested.

To the Editor: The attention of all
classes of the city of st. Paul is called
to the abridged prospectus of the Manu-
factureIs' Investment company, pub
lished in this issue of your newspaper.
This is corporation designed to oc-
cupy new field in the business affairs
of the city. from which Its friends be-
lieve benefits will be derived to both the
city in the aggregate and to the individ-
ual citizens. 1t is designed to encour-
age and assist in building up manufact-
urlng in the city and at the S anne time
provide safe and profitable investment
of the monthly savings of the people of
all classes, thus encouraging habits of
thrift 9nd economy.
1t is not difficult for an ordinary
laborer to save and put by the small
sum of 80 per month, or for the clerk
and more prosperous people who have
regular incomes from salaries OF other
wise, to thus save Sc to $40 per month.
if they have some means of investing
SO small sum monthly, but if there are
no such means provided and they must
keep in their pockets until sufficiently
large sum is accumulated and oppor-
tnnity offers to make an ordinary in
away and is lost to them.
The preferred guaranteed per cent
stock of this company offers this form
of investment.
1t will be admitted that to build up
manufactures here there must be cap
ital available; but it may be said, if
this whole stock is subscribed, only 2
per cent being payable monthly, pro-
ducing only $4,000 per month, the
amount of money is so small that it can
have little appreciable effect upon the
business of city as large as this.
This is true; at the same time all
large enterprises must have begin
ming, and usually the most successful
have small beginnings. If this COM
pany proves profitable, as the directors
expect it will, other similar institutions
will follow, and in a comparatively
short time it is not unreasonable to eX-
pect that possibly ten or more such
companies will be in the field with a
like or even larger amounts to invest
monthly, which would give 100000 or
more per month instead of $4,000.
| Besides. you may not be aware, or
may not think for the moment, what
vast sums the aggregate of trifing in
| vestmentS amount to Ia the course OF
| years.
This system of savings has been en-
couraged for fifty years in the New
England states through the instrument
| tally of their savings banks, with won
derful results both as to the magnitude
of the aggregate accumulationS and to
the number of investors.
The deposits in savings banks of the
six New England states, with an aggre-
gate population of only about 100000
people, amount to more than S600,000,-
900, which represents portion only OF
the savings of the laborers and wage
workers of those states. The state of
Massachusetts in 1888, with a pOpula-
ton of about 100000, very little more
than the present population of Mime
sofa, had ITO savings banks with 944. IT'S
depositors and a total deposit of over
1902, 900, the average deposit being
| only Ss20.66.
The little state of New Hampshire,
the poorest and rockiest of them ALL
with population of only 100000 about
the same as the combined population OF
the cities of st. Paul and Minneapolis)
in 1889 had deposited in eighty-nine say.
] ingS banks the enormous sum of Oyel
S62, 100000.
There were IA, 1874 individual deposit
ors, averaging to each only S395.12, anC
| the bank commissioner in his report
adds the information, 1.-THE greater mum
Der of depositors are women and chill
dren." These New Hampshire savings
| banks paid out in that year to deposit
ors in dividends S2,50O,000. Do yol
realize the magnitude of these figures