The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-08-25
UNION MEN SAVE.
INQUIRY SHOWS
Are Not Spendthrift Set,
Do Not Live Up to
Incomes.

Inquiry develops the fact that there
IS a large number of union men In this
city drawing good wages. holding
steady l-ths-year-round positions, who
lay away a reasonable percentage OF
their weekly, monthly. and yearly in
comes, the opinion to the contrary not
withstanding.
The opinion seems TO prevail among
those who are not IN touch with the
laboring men that they are a spend
thrift set and live up TO their incomes
on system Of hand 10 mouth, the ex-
ceptions being rare indeed. This is both
a SANDER and libel and an indictment
brought without basis OF fact. There
are a. large number Of union mechanics
IN this city, pTovident in their habits
with the financial instinct well devel-
oped. who own their own homes Of
modern conveniences. and which are
furnished in comfort and who live as
becomes their tastes for refinement
and culture, who dress we'll educate
their children in the public and paro-
chia1 schools. and who distinguish them
selves in those schools; who not only
own their own roof tree, but in many
instances II can be pointed out where
they own other valuable real estate and
many OF them have comfortable bank
accounts or else hold shares in the best
building associations which place them
FAR beyond the pale Of want, come
what may. In a number of such in
stances these men are not past the
meridian OF life.
Northwest and Southeast.
\ walk through the residential sec
sections OF the city. in particular, hun
dreds of such Instances can be pointed
out, while there is an army OF such
thrifty men and women who are buying
on the installment plan, as can be
shown by the large and small real es
tate firms, homes where they apply
what they would have 70 expend in
rents TO the purchase IN fee simple the
homes in which they reside.
Aside from the men who save from
their earnings BY purchasing homes
and investing in improved and unim-
proved real estate holdings there are no
few who deposit their accommodations iH
the banks, savings institutions. trust
companies. building and loan sssocia-
tons, or other safe investments removed
from the dangers Of speculative invest
ments. As rule the economic union
labOring man who he's saved a few hun
dred or a thous51d dollars 10 begin
with is not an easy mark to be drawn
into some wildcat scheme Of get-rich-
quick, although there have been some
OF the laboTing men in the frauds that
have fieeced the public. When one OF
the saving class OF laboring men has
saved up q nest egg It is the result Of
the strictest economy, and, in many
Te
hard-earned money and it Is never
placed before careful investigation is
made as to the reliability OF the firm
or people to be trusted
In 8 number OF the departments Of
the United States aud District OF Colum-
bia governments. and other places
where organized labor is engaged, one
Of the most profitable sources OF
money-saving and big returns is 70 be-
found il the symposiums conducted by
the men who save and loan money TO
the less provident and spending class.
who at all times seem to be IN need OF
cash for which they viii pay big inter-
est. These symposiums do not thrive,
as a rule, on the members OF organized
labor yet there Is a contingent OF union
men who borrow from them-but most
OF the money is loaned TO others.
Cooperative Relief Association.
The movement recently started to or
ganize a cooperative relief association
among the Government employees Of the
United States and the District OF Co
lunbia, for the establishment Of saw
ings through en- insurance on life.
health. accident on the tested lines Of
the old-line companies, TO be managed
and conducted by its members under
the District Of Columbia insurance laws.
will undoubtedly find many strong sup
porters in the ranks OF organized labor
IN the Government Printing Office, Navy
Yard, and at the Bureau Of Printing and
Engraving. This financial proposition
seems 10 be possessed OF merit and II
organized along the liEes OF it's pros
pectus will draw TO II union labor sup
port with thousands to invest weekly.
There will come alone from the Govern
ment Printing Office, the Navy Yard,
and the Bureau Of Printing and En-
craving tens OF thousands OF dollars
that the uniformed never gave a
thought and who would be astonished
st the savings that are weekly laid
away by organized labor These three
institutions have on their rolls an army
OF men in the ranks of the labor
unions
In this connection the annual financial
report OF the international Association
OF Machinists. with headquarters IN the
NIcGiH building on G street near
Ninth, will show, aside from the per-
sonaI view OF the labor union mans
savings. in a limited way, what posi-
ton organized labor holds as a factor
In the local financial reckoning. This
organization is one of a dozen unions
that has its headquarters in this city,
directing its financial policy as well as
making this the home of its deposits.
The American Federation Of Labor, Yith
headquarters here with which all the
unions are affiliated. with probably the
largest financial account Of any SINH
lar body in the world. has its financial
headquarters in the west at the home
OF its treasurer. John b Lennon.
The International Association OF Ma
chinists' report shows that during the
fiscal year just closed the association
received and disbursed through two