Bisbee daily review., 1905-06-22
NOT A SAFE INVESTMENT.

that the Arizona Investment and Saw ings association has uron the applica- ton of a number of it's stockholders and depositors been placed, by the district judge, in the hands of a re- ceiver and that it's business will be- people in Douglas. Bisbee, Benson and almost every mining camp in the terri tory. No statement, official or other wise, has been given out as to the condition of the company, its assets or liabilities or the amount that it is like ly to pay it's deluded stock holders. The Tucson Star says that it has $150,000 loaned in various parts of the territory but does not pretend to state how much it owes it's depositors or how much it's outstanding loans have been reduced by the payment of the monthly dues by the borrowers. The immediate cause of the -company's col lapse was the maturity of a consider able part of its stock and its failure or mobility to pay off the stock ac- cording to contract This precipitated the suit which has resulted in the ap- pointment of a receiver. The indica- tions now are from all that can be gathered that wIen the assets of the company are marshaled, the mortgages collected and a final wind up of its affairs concluded that the depositors and stock holders will get a very small portion Of the amount that they have paid in on their monthly dues.
 These large building associations usually located in some large city or commercial center and ramifying over two or three states have for the last fifteen years been a source of endless grating and litigation in all parts of the country. They promise the investor if he will take so much stock and pay in a certain amount of money in monthly payments, extending over a period of years, that at the end of the time they will pay him from two to three times as much money as he has paid into their treasury. They usually get few prominent local peo- pie to go in with them and give them character in the community. The promise of extraordinary large profits with the savings feature prominently put forward induces the laboring man and the man of small capital to invest part of his, wages from month to month in the company's stock. All goes along well for several years All of the money. is going into the treas ury of the company and none is com ing out. When the stock begins to mature the real music begins" 1t is not possible to make money eaEp in any legitimate investment the sum of money they promise to pay and , they are strictly up against it." In the mean time, during the apparently prosperous years of the company they have been paying their officers large salaries and liberal commissions and living with lavish hand, all of which spens ruin in the end. When the stock natures there is no money in the tin with which to pay and no pros
 pect that the stock can ever be matur- ed in the ordinary way. The officers who have profited by their big salaries are perfectly willing that, a receiver may be appointed and the burden of responsibility taken from their shoulders. In the hands of the re- ceiver the assets shrink a great deal, as bad investments and bad loans have been made and the stock holder who has deposited his savings for five
 years or more has "the sack to hold
 How much the stock holders of the Tucson Investment and Savings Co.
 will realize on their holdings we have mo means at this time of telling but
 we venture the assertion that the re turns to them will be a very small