, 1908-07-11
DISCUSSION MAY BE OF VALUE.

The comparison drawn Dy The Re-
publican between the expense accounts
of the Laramie and Cheyenne building
associations caused much comment at
the capital. Both Cheyenne papers re-
produced the article and Cheyenne
stockh0lders were Astounded to learn
that they were paying six times as
much for every dollar handled as the
Laramie stockholder. They had been
given to understand that their asso-
citation was being run at the very mini
nun Of expense, hence their astonish-
mem. Agitation OF the subject will be
Of value to the Cheyenne association.
and will doubtless result In a marked
reduction of the expense account.
There is no question but that the ex-
penses may be reduced without detri
ment to the association fully FIFTY
PER CENT.
Wyoming needs the local building
and loan association. We have no
savings banks and they in a measure
take the place of these, giving to the
wage-earner an opportunity to make
small monthly Investments, which be-
gin at once to draw a satisfactory rate
of interest. Many poor men have been
enabled to provide for themselves AMI
families comfortable homes, paying for
them in installments so small that they
have been little more burdensome than
rent. Certain men having the neces,
sary qualifications have been philan-
,thropic enough to act as directors, no
pay being attached to The Office. In
nearly every case there has been no
charge for rent, the annual meetings
being held in some public building and
the monthly meeting of the trustees
being held either at the office of some
some one of the directors or the de-
pository. Generally speaking, the
secretary has served at a salary of a.
reasonable nature. The entire opera
tions Of these associations have been
considered OF a semi-pubtc nature.
They have been recognized as a great
~steadying influence. Men and women
who carry building association stock
are locked upon as safe people to do
business with. because OF the habits
of thrift and economy they inculcate.
On several occasions attempts have
been made to establish national asso.
Citations In our midst and some have
for n time done business in the larger
towns of the state, but they have al
most universally proved disappointing.
and for the reason hat they have a.
number of paid officers. high-priced
agents on the road selling stock and
all the machinery of national manage
ment. state management, local manage
ment. ETC., that finally lead to small
dividends ant ultimate loss to the
stockholders. There is no secret about
their failure to get good returns for
their stockholders. Good returns for
stockholders cannot go hand in hand
with big salaries for officers. That fsi
the reason why the national ~associa-
tons have proved disappointing; that
is the reason why the local associa-
tons with small expenses have proved
OF great value to those interested. The
secret of their success has been In
acknowledgements account at the low
est possible figure consistent with good
management
In the future. as IN the past, The Re-
publican will be found lighting the
rattle OF the local association and it's
fnauence will be against lighfaIuten
salaries for any ofncer connected there.
with. Laramie has been mighty for
ltunate in the management OF her build
ing associations. The result is attest
ed IN the hundreds of homes built
Thrush fhofp ~vou~kl~n fNII