The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-01-10


that he is accommodating : nucleus
from which a home for his family is
assured, will perform his duties with
more ease to himself and much more
satisfaction to the company. The
man who works from January 1 until
December 81 and makes no Roadway
in providing for his family in case of
misfortune, or to himself in case of
old age, is not as well satisfied with
himself as the man who has accom-
plished something in this direction. As
a rule, railroad employees do not spend
their money as judiciously as en-
ployes in other business. who re-
ceive less wages. This is certainly
thoughtlesSness on their part and the
day of reckoning comes to every man
when he realizes that he has not done
as well as he could, and that it is too
late to make correction. There is no
doubt but that there is an opportu-
nifty for our employees in Texas to i'm
prove their condition by buying farm
lands, if they take advantage of the
opportunity within the next year or
two. There are very few of our en-
ployes who could not well afford to
make a small payment on a piece of
land costing from $500 to $1,000, and
If given an opportunity to pay for the
same by monthly assessments nav off
the principal without feeling incon-
Venienced- There stil remain subject
to purchase along the line of our road
farm lands ranging in price from SO
to SIS per acre. Say, for instance. an
employe found some one who would
sell 100 acres of land at IS per acre
The purchase price would be $780,
Suppose the employe paid 800 down.
leaving 500 to be paid for in, say ten
years at per cent interest Interest
on same If no other payments were
made, would amount to $56 per year:
II paid monthly, would amount to
$4.67 per month. Say in addition to
the $4.67 per month, that the employe
PAID 50 per month out of his salary;
n ~. = =.
or the second year $40 on the land,
and the interest would amount to
$4.27 per month; and If he paid SIS
per month in that year he would awe
at the beginning of the third wear
terest.
THE figures given above are, of
course, not arbitrary. Any enpIoye
could make additional payments on
the purchase price. 1t will be neces-
sary for the employe to pay interest
on plan Of this kind, but while doing
this he must not forget that the land
Will be increasing more rapidly in
amount to.
ut is our desire to put this matter
before the employees with hope that
1t may cause some of them to think
on this subject, and if any desire to
nave us help them we will be glad to
9o SO IN the Following manner and IN
DER the following conditions:
The land SO purchased must be
road
The circular further contains copies
OF deeds that must be executed to
carry into effect the provisions of the
circular. The railroad will. on order
of the purchaser of the land. withhold
the amount specified in the contract
price every month from the salary of
the employe. The circular concludes:
You should carefully consider this
matter and not attempt to buy under
this plan, more land than your earn
ing capacity will Justify you in paying
Tor out of your savings. Under the
plan proposed, you can pay at certain
periods as much OF the principal as it
may be convenient for you to pay, and
while the deed or contract may run
for twelve years, if you accumulate the
money sooner than that the contract
principal. stopping the interest and
having the land free of debt You
should carefully consider the length
OF time necessary for you to pay the
whole amount and be sure to make it
long enough SO that you will not be
EN- barrassed, and if you are able to
pay for the land sooner than you ex-
pect, the contract is arranged so that
you may do so. The plan provides
also that you may continue making
the payments direct in case you should
leave the service of the company, vol |
or otherwise. There is moth |
ing in the plan that will prohibit you
from taking service elsewhere; but as
long as you can do as well by remain |
ing in the service of this company as
you could by going elsewhere, you will |
probably not wish to leave The pur- |
chase of farm lands is recommended |
as being most practical for our en-
ployeS IN general, but should any of |
them wish to purchase town or city |
real estate they may do so on same
terms as for farm lands"