The daily state chronicle. [volume] (Raleigh, N.C.) 188?-1891, 1890-08-31
s'THE RAMBLER. -
He TALKS ABOUT HOMES FOI2
THE HOMELESS.
He Shows How "a Poor Man Can Get a
$500 Home fer $500.

5000 tome for $500
The Rambler sat on a rustic il Capt.
tol square yesterday. Ho was il the
shade OF tbs magnificent oaks His hat
lay near him tue ground He was il All
easy, lounging attitude, ansi wni.o the
reporter quietly approached HIM Ho was
putting beau;i if1l rings Of blue smoke
from fragrant cigar.
The Report : s..5 down and the Ramb-
l1r without tlI1in5 his head quoted:
CLONE, home, swee,, sweet home
BE 1t ever 50 humble, there's 10 place
Ike home."
Before the Reporter could express his
astonlshment 40 the poetical numor OF
the Rambler, that worthy said:
DO you suppose that working man
Who lives in d rented house can fully ap
precIate that sentiment? Don't You sup-
pose tliat if a working man could 10
Shown how ile c0uiQ s3at house OF MS
o"n by little patience ana 4 very little
economy, thaG n8 would sake advantage
Of ;ha plan?
People are gong Vill over building
aud loan associations. These os-alila-
lions, believe, promise to doQole the
money, of neatly double It, IL SIX Or
seven years Why can't some OF Us get
crazy on building association that nIlI
give man 5000 home in five years for
half that money. I've seen ald know
something about plan by which this
thing can be done.
AS set forth, the plan shows how one
hundred homes, costing $500 each, can
| Do built III five years, for an actual cash
| outlay Of $3.50 from each member; or to
| make il palmer, at the end Of five years
each membet will nave q $500 home il
| fee simple which viii have cost him not
exceeding $3.50 The statement may
seem reckless at first blush, but an illus
tration viii show the pract1cability Of the
plan.
Let the association consist ol = 1un
| lred members.
Operations are commenced by assess
ing each member S 90 per week. The
collections will therefore be $4,000 per
week from he association. In five weeks,
$4,000 will have been collected =
| enough to build one home Work is
commenced on the first nome as soon as
the first weekly collection is made, and
with subsequent collections fer Jhg
ether four weeks the work IS hep5 UP
and the house compi0ted as tie end ol
che Fl st five weeks.
Oue OF the meabets OF The associa-
ion ;hen occupies the house at s. nomi
nal rent-s&y 5000 per month. lie also
continues to pay his weekly asaessnen1
oE 81 GO, making his rent cost him SO, G,
per month.
Uader the old system Of renting, he
pays probably as much as this for the
simple use of 3 house for one month, an(
tie transient use Of the house is ali b
gets for the use Of bis money.
Under the proposed plan this rem
money, as well as tho weekly asssssmen
Of $1U0 goes into the building fund fo
the next house.
Ia five more weeks another $500 is col
lected from the aSsCciation-$1.0 90 pc
! Weak from each member, and il th'
) meantime the weekly payments are de
I voted to the building Of the second house
: This costs $500 rs the other, but the oc
cupant Of the first house has paid int
} the fund a rental of $500 and thi
7 amount is on hand at the completion Q
e the second house, which is paid for i
full.
Another member moves into the sec
ond house and begins to pay a MONTH
rental Of IS 90 per month. Ia tive NOR
= weeks another house is completed by th
Iund from the weekly assessments. b
: this time the occupant Of the first nous
! has paid into tie fund tWo months loI
amounting to $500, and tie occu, al
y OF the second house las paid ii $500 K
g ore months rent making balance I
e $500 IN the fund .sffer three $500 !.ll
se5 have been paid for.
u This SYSTEM Of building api rontin
It Is continued during the time ]. require
g to build the one hundred homes. 4 Il
2 tie calculation V!ji show that in ii
!" course of tTo years the rental OF 4
= houses Dullj II taat tIt11 VII amount
. considerable Income, &nd soon g
large enough 10 permit lhe building
~ toaf or i've houses e'ef3 hF3 week
without increasing tne Wef A'E a53es5ne.
i OF IL 90 from eaca memoir.
= 1t runs 50 fhat at tna enc q a1o
:" I'VE years every ine4p9- y VI coinja'
has 4 fte nUl@red dollar home Ehli
cs assessment of $100 per week Ior fl
Il, ears, or $500.
se OF course those who moved into t
4