The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-01-01
NATIONAL LOAN AND SAVING UNION
Building and Loan sDcieties, Their Origin,
Growth and Benefit.

Building and Loan sDcieties, Their Origin,
Growth and Benefit.
While il 10 probable that the Chinese had
building and loan societies two thousand
wears ago or crudsr and less perfect plans.
the source of the modern societies in this
country was in Philadelphia forty or fifty
years ago.
These were small local societies formed
by workingmen in shops, or by few friends
and neighbors in some store or convenient
place Of meeting. Many were held in sa-
looms. and all were small and local In their
operations for some time. Gradually tho
idea took root and spread, and from the ex-
perisnce gained. the local society took q
large sweep and q more systemstio manner
of business. though looked upon with sus-
picion and dislike. and opposed by many of
the wiseacres OF that day. They grew. how
ever, and became numerous, extending to
other towns and cities by degrees, and soon
their benefits could no longer be denied by
any fair and observant person.
Tho city Of Philadelphin is signal OK
ample Of their beneicient effect In enabling
people OF poor and even moderate circum-
stances TO acquire property. and Philadel-
phin to-day contains larger proportion Of
workingmen and others who own their COM
Portable homes than probably any other
rlace in the land. All over the east the b.
* l.. societies are numerous. powerful and
popular. and with moro aggregate means
than the banks, have been. and are helping
through the cooperative principle which is
the true plan for the saving of money and
building up the homes of the people.
OF late years the needs of the west and
various i'm improvements in the methods of b.
d. l.. societies suggosted broader and
inaugurated in Minneapolis. and the mar
velous growth of that successful and pro-
Rrsssiye young city hrs assn largely this re-
suit Of shes5 gone 14Ef o. 'fAass40Hai
building and loan eociesies, rs they are
usually called. to distinguish them from
the "locals." The nationals" in their
turn have grown with far more rapidity
than the first local societies, and have. as
was natural, awakened the jealousy of the
locals Just as the latter were opposed
when they were young and new by GER
tain GLASS then. Tho nationals are grow
ing more rapidly in the middle west and
south. and at the last annual reports their
600, 900 as against little oyer half that one
year before.
Tho fact is both the national and local
societies have their places, and each tends
to assist the other by encouraging q spirit
of thrift and saving. The national socie-
ties are ampliications of the locals and
more flexible aud efficient, entering into the
smaller towns and villages which are not
large enough for separate societies; and as
their loans are made with more care, and
not all in one place like the locals, the dan
ger IL avoided of having "too many eggs in
one basket" which sometimes affects the
small local society more or less seriously.
These facts have already become 30 we'll
recognized in other sections that the ma
tionals are drawing the best men into their
ranks. The ce-president-elect. Mr..
Stevenson. has been, and 10 the president,
and in fact the first promoter of National
in Bloomington, Illinois, where he lives,
and many others as eminent are identified
with almost every national society that has
been organized.
The National Loan and Saving Union,
of Helena, is organized on tho safest and
best plan of building and loan, and has
here and in neighboting towns to homes;
and stating them and many others to save.
Ii is beneficial III its operations and de-
serves we'll Of the citizens of Montana and
neighbo ing stutes and We trust oil good
Helenaites and Montanians will lend it q
hearty support and SO profit by IT them
selves.
A Gull at its Office In the Merchants Ma
tional Bank building, or n request for its
plans will be RESP ondsd to by the secretary.
and the most courteous attention given to
applicants for stock. which oan be had on
monthly payments; and loans can be made
to stockholders to be repaid in monthly
sums not exceeding tho cost of rent. To
those who wish to save money and get the
most profit. the cooperative principle of
this institution offers tho best to all classes.
The trustee and depository. tho First Ma
tIonal bank, OF Helena, holds at nll times
real estate securities of the union on twice
the value of amounts due shareholders and
depositors, making the safest security in