Five Mile Beach weekly journal., 1923-01-12

the resolution ldlu on the table. InlS
motion failed, and a motion was then
dvanced to have it adopted. This
motion carried.
A communication from the Wild
wood Hotel Association urged that the
Board Of Trade cooperate with them,
the Hotel Mems Association Of Cape
May, and the Young Mems Progressive
League of Cape May, in the matter of
getting equal railroad fares and a
weekly train during the summer from
Pittsburgh. This communication was
turned over to the Railroad Commit
tee who stated that this was already
being taken up by the committee.
Two designations were presented
and accepted at the meeting. They
were Frederick Himmelein, Jr., and
Harry Koeneke.
The resolution ordering a commit
tee of 80, representing every phase of
the Island, to work on the IS points
selected for the program to be fulfilled
by 1926, was now brought up and
read by the secretary who discussed
it thoroughly. Motion was made for
its adoption and after being seconded,
discussion was called for by President
Goslin. This set off the fireworks and
for the next half hour or longer this
resolution was pounded and praised
from every side. Some Is or 20 mem
bers voiced their opinion of the reso-
luton and when a vote was finally
ordered by the raising of the right
hand the vote was so small that a sec
ond vote was ordered by President
Goslin. In this vote, in which the
members stood up there were 40 voted
yes" and IA mo-" The adoption of
this resolution ended the evenings
work and the entertainment feature of
the program was now in order. This
was opened by several selections finely
given by Robinson's Electoral Or
chestra. This newly organized musi-
cal aggregation are rapidly becoming
favorites with music lovers of the city
not only for their novelty but for the
excellent manner in which they give
their selections.
Following this offering President
Goslin then spoke a few words of
praise for the six building and loan
associations of the city and then in
troduced the speaker of the evening,
James MacMaster, of the New Jersey
State Department of Banking and In
%surance. Mr.. MacMaster owned to SO
years of age, proved a very likable
person and an excellent speaker. He
gave a very interesting talk on build
ing and oar associations, telling Of
the assets found in such organizations.
He began by saying that there was
more misery in this world caused by
lack of saving than by any other sim
gle thing. He said that too much
economy was also bad and described
this by giving as an illustration the
story of the old Scotchman who woke
one morning to find his wife dead.
Hurrying to the head of the stairs he
called down to the maid. "You need
but cook n egg this morning, Mary"
Mr.. MacMaster then went on to tell
of the developing of land in various
parts of the country in the past 20
years and compared the world today
with that of $50 years ago. He showed
how much of the improvements in this
btAAN hofO pOOi OlOOSAl aOOuL ny liz
spirit of saving and that there is no
better method of saving money than
that offered in the building and oar
associations. "The greatest financial
minds of the last century have not
been able to devise a better method
of saving than offered in these asso-
Cations" he said. He then gave some
surprising illustrations of saving in
the building and loan associations. If
a person saves IS per month from the
date of birth till he is SO years of age
a bank will give him $4,14O for his
savings. The same amount in the
building and loan associations will
show a saving at the end of this time
of $63 900 total. Taking the time of
saving from 81 years until So years
of age the total investment at IS per
month would be $276O; but if, by put
ting this amount into building and
loan shares the person would then
have between fourteen and fifteen
thousand dollars; and if by putting
the interest back into building and
loan shares the age of 20 would find
the person with about $32,0 900 to his
credit.
Mr.. MacMaster her spoke of the
8 per cent compound interest accounts
offered in a New York bank which
advertises for 500 per month for 80
years they will show a bank balance
for the person of $62 300. F~orty-fve
dollars per month for "a years in the
building and loan association will give
$63, 900, or the same total in the same
time" said he. There are 100000
memberships in the State of New
Jersey in building and LOAF associa-
lions and in the past 16 years the
losses to investors in these associa-
tons have been so small that they are
not even counted" Mr.. MacMaster
closed his address with a very pretty