The weekly Floridian. [volume] (Tallahassee, Fla.) 1867-19??, 1892-01-30
INVESTING MONEY.
VALUABLE OPINIONS ON THE BEST
WAY TO INVEST 500.

Savings Ranks and Building and Loan
Associations Recommended a. the SAT.
sss Places to Keep Money.
Hundreds of thousands Of thrifty
young men and women throughout the
United States. who are ambitious to Sc
cure competency for their old age, are
at loss to know how to invest their
small savings to advantage There is
scarcely q successful business man in
New York who does not receive in his
mail every morning requests for informa-
tou IS to the best way to invest small
sums of money.
With view of obtaining some opin-
Ions on the subject reporter called a
few days ago upon some Of the most
prominent and successful business men
Of the country, noted for their shrewd
Investments, and asked them to give
their opinions of the best way to invest
800.
Mr.. Henry Clews. who has earned
reputation for his sound judgment in all
matters relating to investments. said:
''The best investment for 800 is to
place it in a good savings bank and make
the foundation to build upon by frequent
additions to it. When the amount gets
large enough the first acquisition Of prop
erty should buy homestead, and when
that Is accomplished it will give such
comfort and peace of mind 70 the owner
and his family as 10 make life worth the
living.
when a man is knowp to own his
house 1t gives him status IN the COM
nfunity greater than anything else. 1t
also gives him al established cre<;..
which, when obtained. if judicious.y ar
conservauvely used. Will make it much
easier to acquire this worlds goods.
''The best citizens are those who Own
N fee their homes and their contents. fpr
It develops qualities il mans MATURE
that otherwise may remain dormant or
hidden ike light under a buslel
Among these qualities are pride q
position. which VIII keep man respect
able; the love Of country. which vii,
make him patriot, anC almost mora
than anything else contribute 10 make
him, not only respected by his neighbors
and friends, but also good and faithful
husband and a loving parent
GILT EDGED BOND" SAYS DR. DEPEw.
Dr.. Chauncey n. Depew advised that
the 500 should be made grow to 81 900
before being invested in any enterprise.
PUT it il the savings bank" said the
aoctor. where it can draw compound
interest, and add to it as you can until
t becomes a thousand Then consult
some wise. conservative banker and in
vest it in gilt edged bond which can lie
registered There is no investment for
800 except to put it into savings bank
that is absolutely safe. The chances are
that If he went TO inquire he would meet
speculative gentlemen who would land
his 500 In some mining or other similar
scheme which promised large returns
and that would be the end of it"
Mr.. Erastus Wiman is Of the opinion
that the best way to invest 800 is to
boy share in some we'll managed local
building and loan association. These
associations represent the aggregate saw
mgs Of their members. and the money is
invested only IN houses built by one Of
their own number. The investment is
therefore q very safe one, because men
viii pay for their homes and the interest
due thereon sooner than they would pay
for anything else. The money can be
withdrawn, if need be, while it rests
with the society, and it pays as good al
interest as any other safe enterprise can
afford Compared with the savings bank
it yields about twice the interest, while
the security is generally just as good
"Qf course all depends uno2 manage
mert. but taken as whole the money
of poor people pu, into building loan as
sociations mas been more honestly a.
minis,e.e1 by the poor Is=ople themselves
than has b-aen any other financial Ir-.SI
IN the country In proportion 10 the
enormous amount invested. which nov.
reaches over 500 .tssl Contracting tEat
of the cap,,ai of all the national banks
the amount of defalcatiors has been IL
6nitesimaL
The rate of interest paid has been
larger, the purpose accomplished nooier,
and the security just as safe as that Of
the average railroad, bank. mortgage or
insurance investment put 800 away
every month In q building and loan as
ISOLATION, conscious that it is the very
safest and best investment that | can
make By it am enabled to insure my
life for SCI 600, and am all the time &C
eumulating. not only the principal. but
interest, which thus far has averaged 10
Per cent
''CNCLE- RCFCs HATcH's VIEWS
"Uncle" Rufus Hatch, who has lost
ever 100000 in Wall street, does
not recommend any high flying in
vestment His advice for putting out
800 was to go slow" and he added:
"n you can find solvent savings bank,
put the 800 there, and be satisfied with
or per cent interest It would seem.
however, from disclosures that national
banks and savings banks and all other
banks are more or less open to criticism
The vast majority Of the public do not
know how to take care of their savings