St. Landry democrat. (Opelousas, La.) 1878-1894, 1891-06-27
ssOHEEsTEAD NOTES.

The New IBERIA Association, says the En-
terprise, has sold 304 shares of stock in tho
past five months as against 90 i'll the SIX
months from January to July l. 1890 Yet
this is not all that it should he. 1t is impossible
for the association to meet the demands made
uD0u it for loans, aud if our people generally
understood the advantages flowing from this
plan OF cooperation the association should be
opcrating upon a subscribed capital of one
million dollars instead Of 100000, its opera
tons are not lilnitei to the town, but extend
to all parts Of the parish.
new idea is introduced by st. Louis gen
tleman for building association payments. In
giving his plans to Il Star Sayings G5t. Louis
reporter, he says:
!. 1t is Just this you know i'll existing socie-
ties it is all a toss up how long they will run
If they work out in 100 months the borrower
will get the use of his money for less than four
per cent if they take 100 months, though, the
Situation will be very different. Now, my idea
is to have a settlement every five years, and
to re-adiust the payments. / work it out that
the member who pays So a month the first five
years will only have to pay $3.50 or so the
next five, which will mean that man can Sc
cure his house while his payments are actually
decreasing He Will also see every five years
inst exactly how he stands, and lie will not he
paying money i'll the dark. | am proud OF MY
scheme, and believe it will turn out a huge sue
cess
One of the most scientific features of the re-
cent astounding growth of savings and loan
associations is that they do not seem to affect
the savings banks. The latter have been re-
celving deposits at the usual rate of increase
while the receipts of the loan associations have
piled up at a rate equally as fast But one do
ductiOn can be made from this fact, and that is
that loan ass Oclations are supported by class
of people not accustomed to place their surplus
capital in savings banks; many of them not ac-
customcd to having any surplus capital, in
fact.
They are small salaried men who make ND
the greater portion of every community
They have enough for their daily comfort and
quite q bit Of money left over to squander in
small ways. These insignificant
designations are what the loan associations
tend to transform into savings. What large
amount they represent when accumulated in
a lump sum may best be Judged by the single
item of 1913 SO which the last report of
the State Banking Department announces as
due to shareholders Ill these associations,
What better excuse for the being of these i'll
than tbatl A saving of seventeen
odd million dollars that has gone into homes
instead of into the Golfers of rich landlords or
theatre owners, saloon keepers or tObacOnists
buffalo On. W Express.
Says the Buffalo Sunday Times: "Your mo-
ney IL a good building loan association is even
safer than a safe deposit vault could keep it.
A building loan association is the simplest and
most profitable form of corporation known
Members are admitted to all meetings of the
board of management You can withdraw
your money at any time with interest and a
share Of the profits. any one can become a
children being represented by guard
ians. Ladies are especially welcome. It's OBJ
lect is to enable you to become your own land
lord"