Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1907-05-02
NC. 40


times % is $S3. This then is the sum
which a shareholder pays in Charlotte
on a share, for which he receives 800,
hence $17 more than he paid in Now,
what rate OF interest is ST. on $50
for three and one-sixth years Bear
in mind you are out of the Whole of
that time half that sum, only, namely.
$41.50 for six and one-third years. So
we find that per cent on SS3 is $49S
year; for 1-6 years it is $15.75-
leaving S1.25 over or in all about 1-2
per cent, AND THE ASSOCIATIONS
PAY THE TAXES, which I presume,
are in this community, for City, County
and State, 2 per cent. (whereas, they
are l-6 per cent. with u.s.. This
accumulated fund is a solvent credit,
which your monied man is bound TO
return for taxes, whether he returned
it or not is another question: hence,
the monied man Will make on this in
Vestment in Building and Loan shares
about S IL per cent. as against + per
cent. if loaned out on mortgage. Where
can he put money at that rate, and
have it placed as safe as in the I. s.
| bonds? Echo answers, where? And
in this connection you here ought to
be able to make 1-2 per cent. be-
cause you will very likely not have
Office rent to pay, and you ought right
now, before going any further, see
your County Commissioners, and City
Fathers to not tax you. Wilmington,
Winston, Concord, Statesville, Shelby,
and many other places, are not re-
quired to pay County and City taxi,
&c hau 10 Nv bo
homes which are acquired with that
money are taxed; to tax the savings
with which to buy the homes is a dou-
BILE and unjust tax, and has tendency
to deaden the savings habit of our
Wage-earning classes.
But that is not all your monied man
will make. The monied man of this
and every other community own the
vacant lands in and about this town,
and he will, through the Instrumental
ity of these Institutions be able to sell
his land 500 and 1000 per cent. higher
than he can now. To Illustrate say a
certain party owns acres of land
near town, which would sell to-day
for $l00 per acre, but through the
means of the Building and Loan is
enabled to sell say 10 lots covering
two acres, at $100 per lot, that makes
81 900; here he already has 100 per
cent. more than the acres are worth.
Now what are the other three acres
worth? Not 500 per acre as hereto
fore, but $500 per acre; so that while
his acres were worth only $500 when
he began to sell lots to the working
people, he got $1,000 for 2 acres, and
4I0 loft Tnr-th
cent more than were the whole 5
acres. Whenever it has been tried.
this is the way it works. But that is
not all. The 10 houses which will be
built on the 10 lots will become tax
rable property; hence, your whole COM
munity is benefited to that extent.
And that is not all. Every foot Of
ground in this community will at once
alphabetically increase in value; and
had [ the time, and you the patience
to listen, could point out many more
reasons, which from money stand
point only, but there are others, high
er reasons which [ will point out later.
Having now shown how one can
save a little each week, and make
good interest on it besides. I will now
point out how each and every one
can become his own landlord, instead
of being a tenant; by paying the rent
to himself, and in some instances the
amount required is only that paid to
the landlord, and sometimes it takes a
who earns but a dollar a day, can
buy his own home; and, Of course,
those working at higher wages, pro-
portionately easier.
How a Day Laborer can Own His
Home With Rent Money.
A DAY LABORER pays rent per
week, say $1OO or $52 per year. 1t
takes a series years and 20 weeks to
mature. Z
In years and 20 weeks he pays the
landlord rent, $4,000, and is no nearer
owning a home than before, but is
actually worse off, being now 6 13
years older and that much nearer in
capacitated for work.
Say a house renting for S1.00 per
week will sell for $4,000. Let him
take shares of stock, borrow $500
and pay that amount on his house and
on which he will have to pay to the
Building and Loan Association as fol-
lows:
On 3 shares, 25c per week.. 75c
Interest on $500 per week at
per cent. t................ 35c
Interest on 5000 to the land
owner 23c
| Total. .................$ 33
Hence 33c more per week than his
rent and in 1-3 years makes $4,000.
This much more than the rent during
that time. Now let him take two