Omaha daily bee., 1895-11-03

public does not seem to be advised, says II.
l.. Gray, deputy supervisor of building and
loan associations In Missouri. zone Of these
is the fact that building and loan associa-
lions usually have what is known as an au-
thorized capital. The amount authorized in
a charter of a national association is seldom
less than 81 900, 900, and sometimes runs as
high as $40, 900, 900. Some Of the societies
omit the word authorized in their printed
matter, and say capital stock $40, 600, 000,' or
less, as the case may be. Thousands Of per-
sons take this to indicate real capital, when,
In fact, oftentimes the association is not only
insolvent, but, moreover, may not have more
than a few hundred or a few thousand dol
lars in resources. In fact, the associations
have no more to start with than the advance
payment Of dues by the incorporators. IL on
the national plan ii will taks from thirty TO
sixty months for one to become solvent, If II
deducts from installments 20 to 25 per cent
for an expense fund, or so-called guarantee
fund, as most OF them do.
Therefore, persons taking stock in an as
sociation on the plan referred to should not
hope to get out, even In less than three to
four years, not counting interest or profit,
unless they are paid at a loss to those that
remain in the association. This is some
times the case, and. without supervision would
not be discovered by one in a thousand who
Confide in the arrangements fair promises,
and who expect improbable, even impossible,
results. There are those who have withdrawn
within the last few years from the associa-
tons that have been incompetently managed
who have drawn out more per share than Is
to the credit of those who have continued
payments and membership. The last criti-
cism does not apply to all national associa-
tions, but most Of what | have stated applies
to many of them
HOME OWNER AND TENANT.
1t is 30 often stated, says the Philadelphia
Ledger, that the homeseeker makes a better
citizen and a better father. This by no
means implies that the tenant is not a good
citizen nor a good father, but that the home
seeker Is more likely to center his attentions
on the home, at least while he is in the
act of gaining 1t, and as this act extends
over many years. he at the end graduates
from a school Of thrift and economy the les
sons OF which are never forgotten. Indeed,
the homegseker, when he becomes a nome
owner, at once engages in the business OF
teaching his neighbors how to save ana
gain homes Of their own. II makes him a
better father, because he is trying to do a
more permanent good for his wife and his
children than the man who cares only 10
live in the present, and for the present Inc
home getter is a better citizen, because no
is doing his part toward building up a city
OF homes for the people. In times OF Vloiehs
disturbance the home getter mas IL u ques-
ton of vital necessity on his part TO caet MS
lot on the side Of law and order. Some
times this view is distorted to mean that tho
owners of real estate make the better law.
makers or the safest rulers OF cities and
states. This, we think, depends on their
honesty. If they are dishonest, what they do
or do not own will not influence them In the
slightest degree. A dishonest lawmaker, X
he owned fifty houses, would not hesitate
one instant to favor measures that would In
crease his own as well as the taxes on other
homes, II his dishonest act result In adding
10 his rent roll fifty additional properties.
] No matter who the individual Is, and no mat
ter what he owns or what possessions he
lacks, II he lacks honesty he Is a bad citi-
zen. We know that the building sdcleties
are doing a great work for the people, and
we are willing to rest on the OF
hundreds who have assured us that their
homes are by far brighter and happier since
they Joined the list OF homeseekers than theS
ever were before.
The Cleveland Leader has this to say abous
building and loan associations; III OFTEN
happens that the idea Of owning a home, OF
gaining independence Of landlords aud ac-
qu'ring possession Of a fixed place OF abode.
appeals with great force to the very persons
who are Indifferent TO the savings banks and
the life insurance companies. To such thu
building and loan associations are invaluable.
and Il would be hard to exaggerats the good
they have done or the benefits which they
will bestow in the future upon multitudes Of
wage-eaTners, and other people OF modeTsts
means. Already they have been the means
Of multiplying homes and home-earners In
some of the great cities Of the United States
10 an extent that has attracted the attention
and aroused the admiration Of the country.