The Durham daily globe. (Durham, N.C.) 1889-1894, 1892-01-22
INVESTING MONEY.
VALUABLE OPINIONS ON THE BEST
WAY TO INVEST 500.

young men and women throughout the
United States, who are ambitious to Sc
cure a competency for their old age, are
at a loss to know how to invest their
small savings to advantage. There Is
scarcely a successful business man in
New York Nho does not receive in his
mail every morning requests for informa-
ton as to the best way to invest small
sums of money.
With a view of obtaining some opin-
ions on the subject a 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
500.
Mr.. Henry Clews, who has earned a
reputation for his sound judgment in all
matters relating to investments, said:
"The best investment for 500 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 a homestead, and when
that is accomplished it will give such
comfort and peace of mind to the owner
and his family as to make life worth the
living.
when a man is known to own his
house it gives him a status in the com
munity greater than anything else. 1t
also gives him an established credit
which, when obtained, if judiciously and
~conservatively used, will make it much
easier to acquire this worlds goods.
"The best citizens are those who own
in fee their homes and their contents, for
it develops qualities in a mans nature
that otherwise may remain dormant or
hidden like a light under a bushel.
Among these qualities are pride Of
position, which Will keep d man respect
able; the love Of country, which will
make him a patriot, and almost more
than anything else contribute to make
him, not only respected by his neighbors
and friends, but also a good and faithful
husband and a loving parent"
a GILT EDGED BOND" SAYS DIR. DEPEw
DR.. Chauncey NJ. Depew advised that
the 500 should be made grow to 81 900
before being invested in any enterprise.
"Put it in the savings bank" said the
NNNNNA) "LIOA ~ SC ia" compound
interest, and add to it as you can until
it becomes a thousand. Then consult
some wise, conservative banker and in
vest it in a gilt edged bond which can be
registered. There is no investment for
800 except to put it into a 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."
MIR. Erastus Wiman is of the opinion
that "the best way to invest 800 is to
buy a share in some well managed local
building and loan association. These
associations represent the aggregate say
lngs of their members, and the money is
invested only in houses built by one of
their own number. The investment is
therefore a 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, if need be, while it rests
with the society, and it pays as good an
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.
"Of course all depends upon manage
ment, but taken as a whole the money
of poor people put into building loan as
sociations has been more honestly ad-
ministered by the poor people themselves
than has been any other financial trust
Il the country. In proportion to the
enormous amount invested, which now
reaches over 800, 900, 0O0-reaching that
of the capital of all the national banks
the amount of defalcations has been in
finitesimal.
"The rate of interest paid has been
larger, the purpose accomplished nobler,
and the security just as safe as that of
the average railroad, bank, mortgage or
insurance investment. | put 800 away
every month in a 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 $685. 600, and | am all the time ac-
cumulating, not only the principal, but
interest, which thus far has averaged 10
per cent.
UNCLE" RUFUS HATCH'S VIEWS.
Uncle" Rufus Hatch, who has lost
over 81, 900, 900 in Wall street, does
not recommend any high flying in
vestment. His advice for putting out
800 was TO go slow" and he added:
IF you can find a solvent savings bank.
put the 800 there, and be satisfied with
3 or 4 per cent. interest. 1t 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
and are easily induced to put them
wherever they are promised a big per
cent. interest.
However all this may be" and I'm
Gle" Rufus Hatch looked very serious,
under any and all events, keep out of
Wall street. Teach the public to shun
its precincts. 1t is simply suicide for a
man to go into Wall street with 800. If
he had 800, OOO, 900 that might do. Ny