Turner County herald. (Hurley, Dakota [S.D.]) 1883-19??, 1891-11-26
Building Association Notes.

Almost every day some one asks an
explanation of the detail workings OF
the Building and Loan Association, in
addition to those given in the pamphlet
containing the constitution and bylaws
which are distributed free to all desir-
ing them; and there are so many who
said they wanted stock in the. new
series that it seems to me I could do no
better than to give description of the
workings of our own as seen in daily
practice.
We have already learned that build
ing and loan association is not build
ing contractor, who builds, or Buys or
sells houses as his chief business; but is
mutual cooperation society, consist
ing of partnership in the profits of
money us money maker, equitably
distributed in proportion to the sever
alities of capital furnished by the indi-
vidual members thereof, and relates to
the cooperation cf money or capital as
distinguished from that of merchan-
dizing and labor; the main objects
sought being economy of expenses, and
the advantage of a union OF many
small capitals into one grand whole.
Each department, every detail when
properly adjusted, bears upon the other
with perfect evenness. Every conse-
quence, each result, is the effect of a
harmony of influences each in strict ac-
cord with the other, all in complete
unison as whole.
For instance, you have one dollar or
ten dollars more every month than you
need for necessaries, or by a little extra
economy could lay aside this amount
"for rainy day." Take as many
shares in the Building Association as
you can save dollars without over
taxing yourself. One dollar per month
is very small amount. but when at
the end of the year you are told that
your twelve dollars is then worth fif-
teen dollars or more, you are well salts
fed with the investment. But the sat-
faction is much greater after continuing
these monthly payments for about 30
months, the association says to you
"here is 5000 for each share of stock
you own" Your one dollar each month
could not be invested alone to good ad-
vantage, but combine FIVE hundred or a
couple of thousand dollars each month
and there is demand for it. In the
past there has always been some one
willing to pay a premium to get it and
they will have paid less interest and
premium when the stock and loan has
matured, than if they had borrowed the
money outside the association at 8 per
cent interest and the usual commuta-
tion.
For every share Of stock, $500 can be
borrowed on real estate security up to
"a of the valuation put upon it by the
property committee.-Longment Ledg-
er.
A notice is received from Postmaster
Cutter at Parker, that the Herald ad-
dressed to John Norton is not taken
out, and that Mr.. N. "has left country
without leaving his address" Very
unklnd in him, and we don't see how
he can expect to succeed in life without
the Herald. We shall probably have
to wiggle along without the few dollars
due on the same.
Yankton Herald. Some people may
think it rather "tall" story, but we
have it from reliable source
that there are places in the Jim
river near its mouth where the water
is not over six inches deep, and the
stream is not over four feet wide, in
fact the gentleman who gave us the
information said he had stepped across
it, and yet the James river is over 700
miles long, the longest unnavigable
river in the world.
If those who are owing me would
call and settle before Dec. l. l should
take it as a great favor as have to
meet large bill on that date, and shall
have to ask my friends to help me.
Respectfully,
Mrs. M. S. ROBINSON.
Personal.
Thos Frick went to BereSfOrd on