The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1893-01-05
We YOUR MONEY
BY Joining the Pioneer Building
and Loan Association.

10y JOAAIuX IUe FIOuccT 0UIlOiNS
and Loan Association.
During the present month the
Pioneer Building and Loan Asso-
citation of Hawaii will issue its
sixth series of stock. Subscription
lists are now open and may be
found with J. G. Rothwell, Theo.
Lansing and A. V. Gear. The
association has prospered during
the past year, adding in the neigh
borhood of Is per cent. to the book
value of its stock.
No better " New Years resolve y
could be made than to lay aside
that ten or fifteen dollars hitherto
foolishly spent and invest it in the
Pioneer Building and Loan Asso-
citation.
The following extracts are taken
from the San Francisco Chronicle,
and refer to building and loan
associations
The workings of these institu-
tions are so simple that they may
be easily comprehended by persons
with merely rudimentary know
ledge of bookkeeping and finance,
therefore every shareholder without
much effort may constitute himself
a committee of one to check irregu-
larities. This accounts for the fact
that they are absolutely safe, or as
nearly so as it would be possible
for human ingenuity to make a
money saving and earning institu-
ton.
For the benefit of those who have
never given the matter attention
we shall endeavor to show how a
man earning small weekly wage
may, in the course of few brief
years, become the owner of piece
of property or considerable sum
ofmoney without making any sacri-
fee deserving the name. Let us
assume that man is receiving $15
a week. Out of this amount, with
out practicing anything like severe
economy, he can support family
and lay aside So every week. With
this margin of savings he would be
justified in taking ten shares in
local building club, which would
require the monthly payment of the
sum of $40, the monthly dues being
ST per share. If his purpose is
merely to invest without building
he simply pays in his $40 every
month, and if he perseveres he will
find that at the end of from 10S to
100 months he will receive 5000
for every share, the scheme of the
local clubs being to pay off share
holders when the shares capitalize
that amount.
It ought not to be difficult to
understand how the feat of paying
to the shareholders 5000 for only
sos paid in is accomplished. The
difference between the two amounts
represents the interest earned by
the dollars deposited by the share
holders each month. AS soon as
they are paid in they are at once
loaned out to shareholders and be-
gin to earn interest. Not only does
the dollar paid in earn interest, but
the interest earned which is paid
in every month is promptly loaned
out and at once begins to earn
more interest; thus exemplifying
to the completest extent the won
derful capabilities of "the nimble
sixpence."
There is one feature of the build
ing club plan conducted on the
local principle that deserves to be
emphasized, as it removes the one
objection which deters many men
from embarking in anything like a
moneyed venture. There is moth
ing speculative about it, and should
the shareholder at any time be I'M
able to carry out his engagement
he can sell his shares at a figure
which will permit him to feel that
while he has not enjoyed the full
benefit which would have accrued
to him if he could have gone
through to the end, he has at least
received fair rate of interest on
the money he has saved, and which
he might probably have squandered
had he not joined building club.
THE DREAD GRIP COMES
AGAIN,