The Forrest City times., 1890-03-15
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 TuE Arkansas Pross. of Little Rock. seems ~ bc up O. builalBg and loan associatiOns Me wund iSc to soc them anaiyze tue south cFn. of kn iNvilie. Tenn. and shOw wherein it Is not the Lest on earth Come. give us some BsGres FJGnssr Ctr ' TINES.
 rHs FORREST CtTy TINES man having brancheo out as an expert book keeper in or der to uphold "jamho" building association it becomes our duty to cnlighted the young man us to a few rudme ntary principles. He clains that tho association in question has made s3 per cent for it's share holders during the ast year. Let HIS see about that. The published statement shows. Receipts from stockholders, ss3.o;3; ne; prcfits si3. .41a sJ-sn apparent profit of S2 per cent for the average time. or II per cent. less than THg TIMES man claims.
 Now, hy locking into the statement a little we find an item of Ss7, ,ssI .s9 uucarned pre- miums, sia,5si Is paid up stock a total of siJ7- 5s6.GT. Does TuS TIMES man claim that the prolts mude hy this siJ7 ,51d0T all belong to the first year. If hls knowledge of book keeping is SO extensive as he would have us believe he mist surely knu-w better, and if he does not know better he shoull not set up sach prcton- tions.
 We tlnd another item of sl1Go0 O. bills pay . able in the aforesaid statement. making a grand total or siI16,6.5I over and above the nominal income. and for which due allowance should be make in figuring the net profits. Alter this allowance has been made, THB TIMES man viii find that his association after all has made but s small profit, and one that is exceeded by our local associations every year. The total income appears from tho statement to have been sals, 23.40. but of this amount sil1,a75.U7 was advance payments. un- earned premiums and borrowed money and a certain proportion of the pro.its of ,h s amount belongs to future years. and il is not s iegiti- mate argument that IHK TIMES makes. when tt claims the apparent profit. as per statement to he tho actual prodt belonging to that years business.-Arlarsss Press.
 There are many ibcredulous persons, who, reading the above. would take it for granted that the writer knew what he Was talking about, and would give him their undivided confidence The Southern Building and Loan AsSocia- tion, of Knoxville, Tenn, had been d,,- n- business one year at the time the statement. referred to by the Press, WAS made. In trying to explain some thing which he evidently did not under stand, the Press man has produced Il eonglumerated mess of hothingness. We, nor the association, have never claimed that there was an earning uu the Whole business of the year of i3 per cent. We demonstrated that the asso- eiatiun had earned fraction above 10 per cent the first year. on serips mum ter one Every person must under. stand that the profits on the money of series tar one mouth~-the first month, are necessarily very small, The intei est IS compounded every month and in a short lime the profits begin t8 assum
 arge proportions Notice the Isrg,. difference. Fhe twelfth st.ries eapnea tte first month two eents on siarr lht Hret series, in f1rce l2 month. carmel $ 53 ua each share It is not leaSauahle noF . fair txaGn r. fv liats sitl' the ptuhis af an 4.s.c5ati II f,sr chs var, by Figuring ou Inc tse.ye diattrut s"itv5 of stacA F. make iht
 Illustration oue MUST discard estr4 tbing bat that wilici. relates to a seri,s \ hlch has been iu iorce twelve months One share E.! stock, iae first year. costs the investor s1 60 whcii is equal to ss sn invested for thr full time. Forty per cent of S5 So k q 52 rhr maaes earned hast year vas sl 55 or one ceta above fo per cent
 We have never claiuspd thst the d. soeidtian made i3 per cent Us aA ater age on twelve d,terent series ot stock. iSsned one each month. and 4 thr Press man has figured 1t mp and finds. as he says, thAi |; has made 82 per cent. tiea 1t has exretdsl our fndest ot possible bol ~s II ha done nothing pl the kind, however. and does not claim II As tu the profits belonging gs a whole to the iirst ear, any school boy ought to he able t0 answer. It ,s plain assertion, proven on It's face, that the profits earurd in any given year. certainly be- longs to that wears profits, and future years Lave nothing ta do with il. cx- cept to compound it. and thHs mature the stock.
 fnr our purpose. however, it does Lot make \ particle of difference whetl'er the profits of one year belong to future years profits or not iThe idea is absurd It occurs to us that The Press man has gotten things t'rr.- bly mixed. which is perhaps accounted for iu the tact that he is iims,li veTt much int tested in a tITfLk Juml4 and cannot Jr will unt see ai> g,a1 in a LAEGE Jumbo I h. statement made b, this association is said hy ex- p.rts, Ia be the best showing ever made by any association tn the United States.
 Remark bio Rescue.
 Mrs. Michael Curtain, plaiufeld Ill.,