The Magnolia gazette. [volume] (Magnolia, Miss.) 1872-current, 1891-12-19

select some stock which would be
perfectly safe and put 500 in that
but a small investor has no facili'
ties for finding out what stocks ar,
safe and what are not. The chance.
are that ii he went to inquire ht
would meet speculative gentlemen,
who would laud his 500 in some
, mining or other simil + scheme
which promis. Il large returns, aud
that would be the end OF it,"
Mr.. ErAstus Wiman, who il
identified with some colossal en-
terprisrs, is of the opinion that
The best way to invest 800 is Il
buy share ia some well-mauaged
lucal building and loan association.
These associations represent the
aggregate savings OF their mem
hers, and the money is invested
only Ia houses built by one OF their
own number. lie investment is
therefore very safe one, because
men Will pay for their homes and
the interest due thereon sooner
than they would pay for anything
else. The money can be Withdrawn,
II need be, while it rests with the
society, ana 1t pays as good an IN
terest az any other safe enterprise
eau afford. Compared with the
savings bank it yields about twice
the interest, while the security is
generally just as good.
"Of course all depends upon
manag cement, bul taken as a whole
the money of the poor people put
into building and loan associations
has been more honestly administer
ed by the poor people themselves
than has been any other financial
trust iii the country. In proportion
10 the enormous amount invested,
which now reaches over 700,00n,
0O0--reaching that of the capital
Of all the national banks-the
amount OF defalcations has been
infinitesimal.
"The rate of interest paid has
been larger, the purpose accomp.
ished nobler, and the security
Just as safe as that Of the average
railroad, bank, mortgage or insur-
ance investment. ! put 500 away
every mouth III a building and
loan association, conscious that il
is the very safest aud best invest
nent that / can make. By it am
enabled to insure my life for $40,
900 and am all the time accumu-
lating, not only the principal but
Interest, which thus far has aver
aged 10 per cent.
"My vote il for the building and
loan associations, which move
mtnt represents the most interest
ing economic sense of the times,
aud which has gone forward with
out any leadership fiom great
tinancier, or any impulse from
great philaDthrupist, but illustrates
better than anything else has yet
illustrated that benigner sentiment
Of government of the people, for
the lleople and by the people"
"Uncle" Rnfis Hatch, who has
lost over 81, 900 900 in Wall street,
does not recommend any "high.
flying" investments. His advice for
putting out 500 WAS 10 1-g' SLOW
ard he added: '.If you can find a
solvent savings hank. put the 800
there, and be satisfied with 3 or 4
per cent interest. 1t would sem,
however, from recent disclosures
that national banks, aud savings
banks and all other banks are more
or less open 10 criticism. The vast
majority of the public do not know
how e, take care of their savings
and are easily induced to put them
wherever they are promised a big
per cent interest.
aThe truth is, as stated by a
stats irian friend, that there Is
only one man Out of 80 900 who is
at alt capable OF caring for himself.
This accounts for the few wise and
lever men becoming pres dents
nt corporations. of railroads with
q system. Of banks, or trust COM
panies. These men, AZ the lrsh-
man has aptly put II, 'ride in
chaiSes' while the others must
walk, by blazes.'
"Howevsr all ofthis NAV he. aud
Uncle Rufus looked very serious,
''under any aud all events. keep
out of Wall street. Teaeh the pub
lie tn shun its preein Is. 1t is
simply suicide for a man to go into
Wall street with 500. Ii he has
500, ,00O.0O0, that might do. NJ
aivire to thrifty persons is to keep
the 800 saved and keep adding
10 it until it has accumulated t. a
reasonable amount. Buy then All
annuity for life, or paid up life
Insurance for your wifi. AMI
children.-A peal valanche.