The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1893-02-04
SAVINGS OF WORKiNGMEN.

Management of En giisiI Loan Associations.
Savings Banks, Etc.
IT is reported that in many parts of
England and Wales worlsingmen's in
situations, which combine banking and
building operations, are becoming bank
rupt, chiefly through Encouragement
or dishonesty. In England there are
=, 700 building societies. the liabilities
of which exceed g50,O00, 900, many of
which are known to be utterly insol-
vent
BY the side of these fallen institutions
should he placed the cooperative socie-
ties in distribution and production in
Great Britain which are managed en-
tirely by the worlSingmen themselves
These have been eminently successful,
and very large proportion OF the earn
ings of the working classes of Great
Britain are now invested in this man.
ner.
In New York, New England, Ohio
and Michigan, and in manyother states
savings banks have been the principal
institutions for the savings of the work.
ing classes. These institutions, as a
whole, have had splendid history.
have a sincere regard for the working
classes, and anxious only for the proper
management of the institutions under
their control.
In making loans, security rather than
the largest profits has been the ruling
idea. In a few cases directors have be-
trayed their trusts by lending the funds
of the institution to their friends or
utilizing them for their own personal
ends, but examples of this kind have
been, happily, rare. Several laws have
| been enacted to restrain them from
wIongdoing, and, so, in spite of their
numbers failures have been very rare.
| The annual interest is low, but it is
paid with great regularity, and, in the
long run, savings bank deposits have,
perhaps, gained as much from their in
vestments as ordinary investors.
In Pennsylvania building and loan
associations have largely taken the
place of savings banks. 1t is true that
"a few banks of this character exist in
the state, and have been managed with
great prudence and success. But build
ing and loan associations have had a
singuiarly successful history Seventy
| OI iubTC dEC pICSGub
invested in them, and they have been
made the subject of careful legisla-
ton.
In other states such institutions have
had quite a different history. Too often
they have proved a failure, and one
reason is, as in the case of the building
societies of Great Britain, they have not
been managed by the workingmen in
their own interests.
One lesson to be drawn from these
facts is that investors should be slow
in adopting new methods. Especially
should those who have acquired the ex-
perience necessary to the profitable
management of their own funds be
wary about committing them to the
management of others.
Another lesson to be drawn from
these facts is, that the selection of hon.
est and capable men is of far more con-
sequence than the nature of the mech
anism employed for making money.
The miserable record of the get-rich-
quick associations that have been
launched in such large numbers in this
country in the last few years, to float a
few weeks or months and then disap-
pear, shows thu. they were designed
by bold, bad meh, who make as much
out of them as possible and then sink
them.
Good machinery, good legislation,
counts for something in business, as it
does in government, but not for all. II
is never so important as honest and
efficient men. Nevertheless. every ef
fort should be made to surround oul
savings banks, building and loan asso
Citations, and all other banking institu.
tions with every safeguard that legis
lation can provide. e.-Bankers' Maya
zine.
The daughter of an Italian street
organ proprietor was married at South
port last week to an Italian organ
grinder, who practices his art in Man.
chester, under circumstances of re-
markable display and expense. The
girl has played barrel organ in the
streets of Southport since she left
school. Six carriages took eighty
guests to and from church, the mer
well dressed in English style. but the
women all aglitter and ablaze with
silks, laces and jewelry, in their ma
| lcSUlVal uEcSS Az JnS ltdab UWt
roast goats, twenty chickens and tws
rounds of beef were spread, and there
were wine, whisky and other drinks il
profusion. Confections were showeret
on the bride and groom instead of tn,
tomary rice.
A Reasonable Conclusion-A tough
: youngster, about five years old, stepped
up behind policeman and pulled hi
coat tails. Hello" exclaimed the Off
! Ger, wheeling around, whats the mat
! ter?' Say, mister, won't you take n
home?" was the blubbering reply. 80
course | will, sonny. Don't cry. Wher
is your homer and the officer patte'
I the waif on the head kindly. Il dom
E know where it is" blubbered the boy
IF did, do you 'spose I'd be stoppiu
g here, asllin' you to take me there?"-
, | Detroit Free Press.
Take "Hepaticure" and prevent mala
: ria, constipation, sickness. Suffering los
of time and money. 11-12-1