The Birmingham age-herald., 1907-09-07
SAVING THE MONEY .. ID BUILD HOMES What the Associations Have
 Done for Charlotte SHARE OF EACH RESIDENT Every Saturday Afternoon Thousands Walk Up to the Offices and Pay
 Their Dues-Thousand
 Own Homes.
BY FREDERIC ]. HAskIN.

BY FHEDEHlC J. fASNlN. Charlotte, N. C., September. 1s07-sat- urday afternoon one sees a big, pushing 1ostling crowd on the streets of Char lotte. Are they all intent upon spending the weeks wages on pleasure and dis sipaton? In many towns that is all too true but not so in Charlotte. They are bound for the offices of the build Ing and loan associations. White and black, men and women, boys and girls he well-to- o-do-mechanic dressed up,' the lay laborer in his overalls, the prosper )us citizen in his everyday business dress thousands are paying weekly dues to the lssociation which helps the people to ave their money that they may build iomes,
 The building and loan association has cached higher development in Charlotte I proportion to the size of the city than nywhere else. Charlotte has subscribed pr one share of $1O0 for every man, wom- n and child white or black, within her orders and of that s10O has already paid 2. Of course, this is not distributed ith absolute equality, but the average here Pennsylvania has the greatest mount paid into its building and loan 'sociations of any state, while New Jer holds the record for the highest per .pita-$17. North Carolina as a state IS but B per capita in the associa- ms. Charlotte has s100 and stands at head of fine list.
 ohiladelphia has the greatest number workingmen living in homes which ey own. Baltimore and Dayton Ohio, well up in the list. All of these things ve been accomplished by the loan lding and loan associations. These in .utions are esta ablished in every state the Union. and have been developed varying degrees in different localities total amount paid into them. how r. Is nearlyq S700, 100000. only a little than the total paid Up capital of the national banks The increase for year over the year before was S40, 00
 is important that these local build and loan ssoclations. which arc fly all purely mutual In their consti- 1n, sl0ll not be confounded with Q sceeInes which used the same name were operated as swindling concerns aw years ago The so-called ma n' associations were nearly always res and too often were straight out ding schemes. The successful asso. )ns, in nearly all instances. are those have local field, which lend money on local property
 of the most prominent men in lOtte got his start In life by paying lal weekly payment to a building oan association in Bethlehem, Penn nia. He was mechanic then, in
 bw he Is one of the be-
 lecturers of the south and
 firm believer in building and
 tons The head of the
 citation here is a man who
 United States with one dol
 life as a clerk In a store
 e wealthy man. He has lgiven
 nd attention for twenty-five
 le fostering of these associa-
 has not received one cent
 for his work
 ding and loan association as
 nd here is purely eo-op-
 rtnership. There are no emolu-
 perqusites to anyone, and all
 icers serve without pay except
 etary and treasurer. and tn ?
 clerical assistants The men
 rted these institutions were
 v considerations partly philan-
 partly patriotic and partly self
 ey desired 10 help the working
 lelp themselves by teaching them
 money, and thus far Il is philan-
 They desired to build up their own by anchoring to it citizens
 
 this extent they were patriotic. were selfish because they knew town filled with workingmen who Ieir homes and are willing to aid in )buiding of the community Is a In which business men will not ) prosper
 an instance down at the bottom. mill operatives are nomadic and inclined to drift from mill to mill town to town. A young man work cotton mill for sl 25 a day falls we with girl who works in the mill for>N a day. They are mar and must face the problem of keep house. The mill company will rent three-room cottage for s2 5O a tn' The building and loan assoca- makes it's offer. The young couple ide to buy home of their own They small lot on long time, and borrow from the association to build a three m cottage, little better than the one tied by the mill company. Each month sy pay into the association S45O, two liars more than the rent money would we been. By and by the man gets his ages increased and he puts another dol a month into the association and uild an addition to his house. At the end six and half years he owns the louse and only has to save 9 cents a week. to lift the mortgage on his lot. This takes long time, one may think put it must be remembered that this family has total income of but $50 a month and if it had not been for the association could never have owned a home at all
 In the meantime, the association has coerced him into saving, because he is fined for each wee. if he omits to make the small payment He has been kept in one town by ties of home, and has thus been enabled to work up to a better po- sitton In the mll-for a rolling stone gathers no moss of promotion. He has become taX-paying citizen and a val uable member of society, for a thousand such as he have been at work on the same programme and they have helped to make a city prosperous.
 york of these insti-
 ans confined to this