Polk County news. [volume] (Benton, Tenn.) 191?-1983, 1920-08-05

building materials, all bur SIX became
| discouraged and dropped out.
Six families, however, refused to re-
linquish the project, and saw it
through to the bitter end. They pro-
posed to build a 16-family apartment
house, and found themselves facing the
problem of raising $4,000 A treas
urer was appointed, and each family
paid weekly installments to the com
munal treasury until they had $4,000
in box. With this they bought a
building plot. The rest of the money
they obtained from a cooperative So
ciety's bank in the form of first and
second mortgages.
Much of the building was done by
the men of the six families, all of
whom took a special pride in their
work and stroye frantically to outri-
val one another in painting and plas-
tering various rooms. Their tnsk COM
pleted the co-operatOrs moved in,
heavily in debt as it might seem to the |
unco-operative. Actually, however,
they were paying interest on their own |
debts, and not on the debts of some |
landlord. That interest, together with |
substantial monthly payments on prin-
cipal. taxes, general upkeep, and 9TH
err expenses, amounted to considerably |
less than they would have paid in
rent for apartments of the same size.
Each family had a light, five-room
apartment, with all modern improve
ments including telephone, hot and
cold water, bath room and a kitchen
(nDt kitchenette) and for these ac-
they paid into the COM
mon building fund S26.35 a month.
Then Came the Rush!
AS it became known that such homes
could be obtained at such a remarka
ply low price, the first six co-operatOrs
we're overwhelmed with applications
rom other families, who wished to
Join the movement. The house was
soon full of tenants, but so great was
he demand for similar accommOda-
ions that another cooperative group
vas organized to build second apart
nent house. This time the co-opera-
ors were not so timid in risking their
money, and decided that their house
hould be even bigger with even great
r conveniences.
incidentally, 1t was to cost $4,000
nore, due not to the added improve
nents but to the increased cost Of
uilding materials. The cost of the
after rose so rapidly that a third
roup, which was on the point of or
decided to defer building
ntil conditions became q trifle less
haotic and the cost of bricks went
own.
Envy of Less Enterprising.
This was two years ago. Today,
lese progressive, cooperative Films
re the envy OF all their less enterpris-
lg neighbors. They are enjoying
arm, comfortable and convenient
ones at small cost at time when
any individuals are reduced to I'M
makeshifts and all are de-
,ndent on the none too tender mer-
es of their landlords
Each family is permitted to pay off
] share of the principal as rapidly rs
,ssibe, and several of them have
,arly achieved complete ownership of
cir apartments. Others, moving to
her cities, have been compelled re-
to part with theirs. only
q restriction is place Oh the sale of
apartment, and that is the provi.
III that only one apartment may be
med by each family--ln order to
iintaln the true cooperative nature
the colony.
Thus, the Firms have shown us how
make the most of Il e motto on our
tIonal currency I'm union there Is
ength. Frederic ]. Haskln In Glib
70 News.