Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1912-01-27
Local Comment

Now that the canning factory ana
the pickle works are contracting for
next seasons crops TO Re raised, many
q man who has found t..I1.self out Of
work in town this winter had better
turn his attention to the small farm
near town. A gentleman who owns
some Iowa river bottom land that was
50 full Of weeds he could not rent il,
employed teams and men last year to
put the land in sweet corn and after
paving for all the labor netted S35 per
acre from the crops. The owner spent
the summer in Canada and scarcely
saw this truck crop himself. Many a
man living in town can rent good land
from IS to 80 per acre and make
good living raising truck crops this
year. Eventually he might move out to
twenty acre patch and establish
real home a man with a small farm
his own factory and be independent OF
strikes and shut downs.
The local Savings and Loan Asso-
citation has passed its turning point
and is now earning prof, for its
shareholders above the expense Of
management. When the association
vas new and shareholders had just be.
gun TO pay in their money at the rate
OF 50 cents per month on each share,
there was very little money ready to
loan out. 1t required two years to col
lecr il enough 10 loan SO that the in
terest would meet all expenses, but
that point has now been reached, and
the association has over 80 900 loaned
out. Its expenses for the salary of a
secretary and office rent are only s25
per month and all of the expenses do
not exceed $500 in a year From now
on the old shareholders will keep on
paving in mora money each month,
which will be loaned out at interest
and the money on hand will keep
working and then a series Of 500 new
shares has been opened for sale.
which will begin TO bring in more
money. SO that the asso citation is now
on profit earning basis which wiz
increase constantly each month. The
directors who pass on all the real es-
tate loans donate their. time for the
good of the town.
However. the growth Of the building
and loan association is not rapid
enough. Where the Marshalltown so
ciety has 100000 loaned on homes as
sociations in smaller towns have $780,
900 SO loaned and in Waterloo they
have four different building and loan
associations What We need here is
more shareholders. more people trying
to save their money. at the rate Of so
cents per month. If our people really
understood that their savings in the
Savings and Loan Association would
earn from to IL per cent interest in
the long run every series OF new shares
the majority Of the shareholders are
! business men who took shares In the
first place merely to boost q good
saving and money loaning class have
not yet walked up to the high rate OF
interest they can get on money in
vested in the Savings AM Loan Asso-
citation and still have every loan Sc
cured by a first mortgage on house
and lot in Marshalltown. II they knew
| what savings and loan shares would
earn for them Secretary Hayzlett's Of
flee would be crowded with business
| 4
People VINO would ike 10 own
house Of their own and pay for 1t b!
| the month instead OF paying rent car
do 30 thru a building and loan asso
citation even tho they have nothing Il
start with. The plan is simple.
one has lot paid for and wants Il
build house costing $500 the asso
citation will loan 1t and take a mort
gage Oh the house and Got. The home
owner then subscribes for fifteel
shares in the loan association 1t 81
cents per month each ard when thu
shares mature in about eleven years a
500 each they are worth as much a,
.he loan on the hoSse and can be sur
rendered to the association to pay Of
the loan. The home owner moves int,
q nsw house Of his own and pays 4