Mexico weekly ledger., 1891-09-03
A CRITICISM CRITICIZED.
A Writer Taken to Taw for Assertions
Regarding the Solidity of b. &
L. Associations.
To the Editor of Ledger

Mexico, Mo-, Sept. DEAR
SIR: Several days ago an attempt
ed criticism on national building
and loan associations, taken from
the st. Louis Republic, appeared in
your paper. While we all recog-
nlze the Republic as one of the
soundest and most substantial pa
pers in the country, yet not all that
comes from its columns can be
taken as law and gospel; but know
ing that the republication of the
article in your paper would have a
strong tendency to give it that
force, l respectfully beg leave to
make a few comments in reply.
The author of the article refer
red to evidently does not know all
about building and loan associa-
tions. In fact, not enough to make
a decent criticism, although he
writes in a very knowing manner.
In his article he virtually says that
men are fools for taking stock in
any but local building and loan as
sociatIons "where they can give
their own personal attention, man.
aging them when organized" He
virtually says there are no honest
men whom we can trust with our
business out of our sight. Does not
this put the gentleman himself IN
a very bad light when he expresses
such a sentiment?
He advances but one single OBJ
LECTION to the National Buildir e &
Loan Associations (Which are those
that do business away from the
home city as we'll as at home) and
that objection is that no set oil
men can be found who are homes,
enough out of sight to do business
without the ''perscnal attention
of all the stockholders. That il
precisely the point he makes and
the only point he makes in his
article. Now we have a very
1ourishing local B. & L. Associa.
ton in Mexico which does not dc
business outside of the town, but
if this association had members in
Vandalia, Bowling Green or Full
ton, is there a man who woulC
have the face to stand up and say
that the interest Of these members
would not be just as honestly caree
for without their personal atten
TOM as the home members2 Ant
yet the writer in the st. Louis
Republic says it. I would like t.
ask, Mr.. Editor, how many stock
holders in the local B. & l.. Asso
citation at Mexico s'give their per
sonal attention to the manage
ment," and if it is not only a mat
ter of faith with them after all?
A man is truly at a low ebt
when he loses all faith in hi
J fellow men and refuses to trus
them out of sight. Such a mar
should be steered clear of. Tha
there are many swindling men ant
institutions in the land no one viii
deny but We would be very sad ant
loathful to admit that there are n,
good honest business men in thi
country.
;. The Missouri Guarantee Saw
ings & Building Association, 0
Hannibal, with John II. Garth a
its president, is managed by al
honorable heightened class of sue
cessful business men who have tn
entire confidence of the people Q
Hannibal and the business worl,
where they are known. The PEG
pie of Hannibal have shown thel
faith in this association by takin
, $4OO, 900 of its stock and it is an in
suit to the gentlemen who manag
, this institution to have it said tina
the interest of the stock holders il
!, Mexico will not be as CAREFUL,
. guarded as the stockholders il
Hannibal, because they canno
J give the matter ''their personal al
tention."
}, The gentleman in the Republi
makes his living by writing on an
subject he can, but this time b
got a little out of his range. Fl
i. ought to have written something {
the good that the six thousan
. Building & Loan Associations i
the United States have done, an
are now doing, instead of excor,at
: ing all National B. & L. Associa
. tons because one in Chicago haI
9 pened to be working on a loos
plan and contained a black sheer
A black sheep will sometimes &c
: to be cashier of a bank, and eve
: treasurer of a State, but for thi
: cause we should not lose faith j
all our fellow men and declare tia
banks and State treasures are dar
gerous institutions.
Yours Very Truly,
II. P. WARDEN.
l. c. Cove, of the Famous, j