Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1911-06-04

What are you going 10 do with
your money!" asked the old lawyer
OF the young man who had just come
into his inheritance.
"Oh. j am gong to put II in the
bank" rpliod the boy carelessly. II
am not going TO spend II foolishly.
am just going TO put II in the bank
and check II out Ms ! need It,"
How long do you think 1t viii last
that way?" asked the lawyer,
We'll, I've got 50, 1000 for this year y
allowance, and It's going to do me II
year, of course"
The young man had plenty OF
money and SO the lawyer SAID no
more.
-Four months later the boy was back
in the lawyers Office asking for
money He had spent his years al
lowance and was overdrawn at the
bank. He had not intended to spend
so much, and really hadn't kept count
how II went. But he needed more.
The lawyer gave him long lecture,
showing him about how long his pat
rimony would last at the rate Il was
now being dissipated, When the boy
had become humble enough In the
face OF the facts, tho lawyer then
proposed plan to him.
you are one OF those fellows who
simply can't help spending money so
lcng as II is in their hands. You know
that now. l am going 20 advance you
money out of my own pocket for the
next year. and am going to buy with
that money certificates Of deposit eX-
pirlng one month from now on "
Certificates OF deposit--what are
they?" asked the young man.
"a certificate OF deposit is a piece
Of paper issued by a bank or trust
company, acknowledging the receipt
Of certain sum and promising to re-
turn this sum on a specified date, a
certain number OF months after re-
ceipt, with interest at certain per
cent.
Cant you draw the money ont be-
fore the date mentioned? ?" asked the
young man.
"No. In addition the certificate,
is not easily borrowed on. The holder
Of the certificate cannot recover
against the bank unless he be the one
who deposited It."
'What per cent can you get in this
way" The boy was thinking now.
We'll the interest varies with the
bank. But as rule the interest Is 4
per cent. The amounts OF these GER
tlficates car be made pretty near any
thing you please, and to run for any
time that you wish"
"I'll do It," the young man decided.
That was two years ago and since then
his certificates Of deposit have been
coming due regularly on the first of
each month. The young man Is living
well within his income and he knows
each month Just how much he will
have to spend.
This Is only one Of the various uses
to which certificates Of deposit have
been put, And It is not the wealthy
class, by any means that constitutes
the majority OF certificate holders,
Tulsa bankers will tell you that
the holders Of their certificates come
from every walk of life and they de-
post in this way amounts varying
from less than 500 to many thou
sands.
The certificate of deposit Is the hest
modern method Of so placing money
that one can be sure against its being
spent In n thoughtless moment and
at the same time Of getting a good re-
turn on II.
The money cannot be withdrawn
before the Jay named in the certfi-
cate. During the whole time Il is in
the hank the interest is going on. It
is not subject to depreciation In value
as stocks and bonds are. The Interest