The Dalles daily chronicle. [volume] (The Dalles, Or.) 1890-1948, 1892-01-29
INVESTING MONEY.
sALuAeLE OPINIONS ON THE BEST
WAY TO INVEST 500.

J Associations Recommen as the SAT-
est Places to Keep Money.
Hundreds of thousands of thrifty
koung men and women throughout the
United States. who are ambitious to Sc
cure competency for their old age, are
ut loss to know how to invest their
small savings to advantage. There is
scarcely successful business man in
New York who does not receive in his
mail every morning requests for informa-
ton as to the best way to invest small
sums of money.
With view of obtaining some opin-
ions on the subject a reporter called a
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
$IOO
reputation for his sound Judgment In all
matters relating to investments, said:
THE best investment for 800 is to
place it in 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 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 status in the COM
munity greater than anything else. 1t
also gives him an established credit
which. when obtained, if judiciously and
l vol 6o ~,
easier to acquire this worlds goods
/ THE best citizens are those who own
! in fee their homes and their contents, for
that otherwise may remain dormant or
/ hidden like light under bushel.
Among these qualities are pride of
position, Which will keep-a 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 good and faithful
husband and loving parent.
A GILT EDGED BOND" SAYS DR.. DEPEw.
l. DIR. Chauncey M. Depew advised that
the 800 should be made grow to 81 900
before being invested in any enterprise.
Put it in the savings bank" said the
doctor. where it can draw compound
interest, and add to it as you can until
it becomes Thousand. Then consult
some wise. conservative banker and in
vest it in gilt edged bond which can be
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 800 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 1.-THE best way to invest 800 is tc
buy share in some well managed loca
building and loan association. These
associations represent the aggregate say
ings of their members. and the money il
invested only in houses built by one o.
their own number. The investment i
! therefore very safe one, because mel
. will pay for their homes and the interes
due thereon sooner than they would pa,
for anything else. The money can. b,
withdrawn, if need be. while it rest
with the society, and it pays as good al
interest as any other safe enterprise cal
: afford. Compared with the savings banl
) it yields about twice the interest, Will
: the security is generally just as good.
, ''Of course all depends upon manage
ment, but taken as whole the none,
of poor people put into building loan as
J sociations has been more honestly ad
l ministered by the poor people themse1ve
r than has been any other financial trus
e in the country. In proportion to tn
{ enormous amount invested, which nov
reaches over 800, 900, ,OOO-reaching tina
of the capital of all the national banks
the amount of defalcations has been in
: finitesimal
! THE rate of interest paid has bee
e larger. the purpose accomplished noble1
: and the security just as safe as that Q
the average railroad, bank, mortgage O
;. insurance investment. | put 800 ava
. every month in a building and loan al
sociation, conscious that it is the yer
{, safest and best investment that l ca
u make By it am enabled to insure m
If life for sec. 900, and am all the time az
IL cumulating, not only the principal, BIT
10 interest, which thus far has averaged
II per cent.
Ill JUNGLE" RUFUS HATcH'S VIEWS.
Uncle" Rufus Hatch, who has los
l. over 81 ,0O0, 900 in Wall street, dot
% not recommend any "high flying" il
yestment. His advice for putting o,
$10O was to ego slow" and he adde,
ie .'If you can find a solvent savings banl
put the 800 there, and be satisfied wit
"a or per cent. interest. 1t would seer
ID however, from disclosures that nation
al banks and savings banks and all 9th
of banks are more or less open to criticism
~ The vast majority of the public do n
ut know how to take care of their savini
r and are easily induced to put the
er wherever they are promised a big p
a. -. cent. interest.