Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1893-01-01
GROWING IN Fave;
vHEELINGS BUILDING ASSOCIATIONS AAFTaH
GOOD THEY HAVE DONE
Two Thousand Five Hundred People, FPn Inc
Laborsr to the Capitalist Are interests IN
Thsm-SOms Statistics

"a
three f. Wheeling, the others Oeing
philadelphia and Cincinnati. In pro-
portion 10 nonulation, Wheeling ranks
sasIIv with the two larger cities nsmed'
and nowhere in the country are ASSOC
a.,ono conducted more successfully
with less expense, less loss through in
indicious investments, or with more
profit to the stockholders. ABOUT one
family IN three in this city is Interested
in some one of the Associations here'
and hundreds of people, after StruE-
Cling to get ahead through saving oy
some other method, have found IN the
local Associations an easy ana sure
method of at least attaining nome lor
themselves, while not few have accG-
INFLATED quite lot OF properly through
them. .oros+od
An classes of citizens are interested
in them. The business man Is oiten
stakeholder in one or more as'oc'@-
tions. the capitalist varies MS invest
ments by taking thirty or forty shareS
| In one or two Associations, and the man
on a salary, the wage Garner tne ia ,,eII
err. the professional man ana the scnool
teacher are all found on the llst ol SUI
scrlbers to stockholders. IL Is ialseiy
to this that the Associations are so pros
nerous. Their stockholders represent
the energy, thrifty and conservative
elements Of the city's populatlon' ana
under management which has proven
strictly first-ciass, the Associations are
to-day stronger and more popular IMAM
ever before, and are source OF
benefit to considerable portions OF our
population rot directly connected with
them, while their collective work Ass
done more than all else combined eX-
cept, perhaps, manufacturing as
whole, to build up and improve the
city. Hundreds upon hundreds OF
buildings would never, perhaps, have
been erected at all had it not been for
the advantages held out bv Associa'
tions, improvements without number
have been made through them, and
homes sill over the city, owned by the
occupants, were called into being ex-
clusively through the institutions
known universally and justly as the
''peoples banks"
1t will likely surprise most readers
Of the REGISTER, notwlthStand-
ing the general interest in and
knowledge Of Building Associ&-
tions, to learn that the institutions OF
the class named here in Wheeling pos
sess two and one-half times the capital
of the twelve banks of the city COM
bined. No fewer than twenty thousand
shares Of Building Association stock
are held by our people, representing
three million seven hundred and hfty
thousand dollars. This stock is divided
among eleven Associations, namely: the
Citizens No, 2, the City, the Union, the
Star, the Wheeling, the Eagle, the
Standard, the Fidelity, the Globe, the
Ohio Valley and the Penn Mutual. The
stock has par value Of $50
per share in all but three Asso-
Citations, that of the City and
the Wheeling being 500 per share, and
the Eagle S135. The Associations will
average eighteen hundred shares each
in present force and effect, or to-
tai of about twenty thousand shares,
and upon this about five thousand dol
lars is paid in weekly in dues, and
about three thousand five hundred more
in premium and interest, or total OF
about eighty-fve hundred dollars per
week, or nearly four hundred
and fifty thousand dollars per anDum.
This stock is held by about two thous
and five hundred persons, fully One-half
OF whom are ladies, the hold
! ings of stockholders ranging
from modest one share to
as high as fortV-hve. The average
/ holding of stock is about eight or nine
shares, there being comparatively few
above twenty-five, while many persons
have IS low as six aud four shares,
which cuts down the average. The
most popular holding of stock is along
about eight or ten shares, or from
$1,000 to $1,000, par value. Many
children are also represented on the
lists, it being quite common for o
father TO take out two to four shares In
the names Of one or more children,
in addition to his own individ-
usl holdings, and encourage the
sons and daughters to pay in
their savings or portion of them as
dues.
All the Wheeling Associations are
upon q sound basis, and some are very
prosperous. The Citizens No. l, which
recently wound up its affairs, was q
striking example OF good management,
netting big profit to It's stockholders,
and numbers OF those now in aperation
could be named which hold ont the
promise OF being very successful AT
least one new Association will start M
within few weeks, under the name of
the West Virginia Savings and Loan
Association, with shares at q par value
OF $3.50, and subscriptions of stool are
coming in rapidly, promising a large
Association. Still another Association
may be started later in the year
QThs demand for money is good often
In excess OF the cash on hand, and II is
no common thing for Wheeling Asso-
citation TO loon ten, fifteen. and even
twenty thousand dollars in excess NJ the
actual cash balance, the income beirg
simply anticipated to make fayorahle
loans. In such cases the banks ara al
ways glad TO come TO the aid Of thu AS
ISOLATION, recognizing reciprocity Of
interests as well as simple interest mon
the advances. With c contihuatlon of
the excellent management of the Asso-
Citations, there is every promise that
their career OF usefulness will contipue
to enlarge, aud that in the future, % in
the past, they will be great aid in the
development Of the city.
Among the men who hive made
Building Associations the successes thew
are in Wheeling are Messrs. henry r.