The Green Forest tribune., 1900-10-11
WILL TRY TT AGAIN.
An American Building and Loan
 Man in Green Forest.

Building and Loan Association of Little Rock is not quite satisfied with the result of J. Murphy's ef- fort to organize a 'Elocal board" here, and will come the old rule of perseverance, and take another whack at us. At least, a gentle man by the name of T. V. Rag- land is here for the express pur- pose of putting an organization on foot and he declares he is goA ing to put it.
 It will be remembered that Murphy tarried in town a whole week about three months ago and he had the thing all cooked and primed, but when came the show down of exchanging cash for ver- bal promises, the prospective stock takers reneged, demanding some tangible assurance that the company would make loans, pro- posing to give bond for stock pay ments when the good faith of the company was demonstrated. Mr. Murphy could not accept the terms offered and left the town in dire disgust. On account of THE TRIBUNE's report of the matter, MT. Murphy penned us a sort of love letter, telling us all about the gardiner" who got his peas frosted. TRIBUNE readers will recall the circumstance.
 It is not the purpose of THE TRIBUNE to discourage any legiti- mate enterprise that is calculated to benefit the town, nor do we undertake to say that the Ameri- can Building and Loan Associa- tion is, not responsible concern: but we will say, as we have said, that we do not believe the com pany will reach the point of mak- ing loans here, at least, for some time yet. We further take the position that there is no special demand for a loan business here. The operation of a building and loan association is not greatly needed anywhere except in towns where there are railroad and fac- tory employees, or people in lim- tied circumstances, who have certain fixed incomes. People who have no absolute way the year around of earning a margin above living are placing them selves upon dangerous grounds when they take building and loan stock, or procure a loan on their homes, because a miss of one payment on stock, or on mortgage if loan on home is secured, sub- jects forfeiture of all paid in or foreclosure of mortgage.
 Building and Loan Associations do not operate much in small towns-there is no demand for them. They will organize a "board" and sell stock at every crossroads, but the loan business is altogether discretionary with the company, and it has been Green Forests experience about three times in the past that they refuse to carry out their prOpo- sitions to loan, and our citizens have lost every red cent paid in to them.
 This same man Murphy put in one of his '1bOardSo at Harrison just few days before his Green Forest venture and Capt. New man of the Harrison Times told us last Sunday that if any loans had been secured there he had not heard of it, and the Captain is a member of the so-called board that "reccommends" the loans.
 LATER-Mr. Ragland, we are informed, succeeded in organiz- ing a board consisting of the fol- lowing members. c. R. Blasin- game, president; D. Whitaker, secretary; w. l.. Crow, attorney; c. H. Keen and G. W. Hanbury.
 If the boys succeed in landing few loans and the cost does not exceed all possible benfits, the laugh and the treats will both be on THE TRIBUNE.