The St. Johns herald., 1895-09-05

ingenious person devised what is
 called the Saving Bank" They
 offered to guard the money of thrif.
 ty people and allow them a small
 interest annually for the use of it.
 Such concerns were often not any
 better than the old stocking. Oc-
 cassionally their money pile was | plundered by dishonest officers.
 Sometimes 1t was wasted in unau-
 thorized speculation. Once in a
 while 1t was swept away, bank and all, Tn some great financial panic like the one through which we have
 recently passed. Those who made
 up the banks pile by their hard earned savings had nothing to do
 with guarding or loaning it, and
 therefore it was neither guarded
 we'll nor loaned judiciously.
 But suppose it had been? Sup
 pose the owners of the money did their own guarding and their own loaning? An! then they would have become rich on it, just as the president and directors of savings banks, who do safe and honest business, become rich by the priv ilege of loaning and re-loaning al high rates of interest the money placed in their keeping at very cheap rates.
 While this system of saving is undoubtedly far in advance of the old wonanish stocking device yet the great panic through which We have recently passed, and which en- gulfed so many supposedly strong financial institutions in it's awful vortex, has forced the conviction upon every thinking mind that something more staple than Say ings Banks must be looked for if the highest art in savings is to be attained.
 The same panic brought to the attention of careful observers, as never before, the justice ofthe claim made by the Building and Loan As sociations, that they offer the plan for savings and investment that at once guarantee the best possible SC curity and largest possible returns for money invested with them.
 They have ridden safely through these stormy times and have de- monstrated that they are founded on conservative and safe financial principals, that places them far in advance of all other corporations or societies tha; cater to the public as the custodian of it's funds.
 Now as an illustration of the suc- cessful development of the above described plans we call attention to the Columbia Building and Loan Association of this city.
 It seems to have adhered closely to the generally accepted building and loan paths and has made for itself, during these trying times, an enviable record.
 When one of its members desires 10 build home he borr0ws from the accumulations other members and he then lends his own monthly savings to help to accomplish the same result. In the former case he pays some interest. Of course, but whether he borrows money himself pr not, he is always receiving inter. nst on loans made to others, even the interest on every loan becoming as it is paid q part of the principal of fresh loans. The plan is some what the same in all sound build ing and loan associations, but the Columbia is chosen for illustration because it's officers and directors are Denver business men. l and because it is apparent they are conducting the businessin a straight and conservative manner. Every balance sheet since the in- shows an enlarged pile of first mortgage securities and an increasing profit to the membership rom the loans made on them. Such