Milford chronicle., 1925-05-29
HOW CAN A POOR
MAN GET AHEAD? ?
The Story OF A Preacher Who Has
Refused A Salary From His
Church Because His Well-InVested
Savings Enable Him To Work For
Nothing.
By Samuel o. Rice, Educational Di-
rictor, Investments Bankers
Assn OF America

Has your church, your lodge, your
club, your union, or your alma
mater any invested funds? What
kind of securities make up their in
vestments? Have you life insur-
ance? Ask your life insurance COM
pany what kind of Investment secu-
rites it holds. None of these, you
will find, are at all likely to be wild
cat stocks or fake oil securities.
They may contain oil stocks, but
they will be the stocks of reputable
established oil companies with a
fine earning record. Most of these
investments will be in sound bonds
and seasoned stocks or good mort
cages. They will have been selected
mostly by reputable, Investment eX-
perts and will be sound and desir-
able.
' If you find it puzzling to select the
right kind of investments, consider
the foregoing as a guide. 1t is prac-
tical for most every man and woman
A Once-pOOr preacher in a Mime
sofa city church followed such a
guide and now has a substantial
fund that yields enough for all his
needs. At a recent meeting of the
elders of his church he announced
that the church owes him nothing
for his services so long as he lives
and that at his death his invest
ments are to be made an endowment
fund in memory of his ife.
More than twenty years ago when
this minister was just beginning to
save a little money from his salary,
his wife died. That left, as his only
responsibility, his church
work, to which he devoted more at
tention than his congregation ever
required. Although his salary was
not large and although he gave lib
orally to charity, the minister
found his savings growing. He con-
suited the church officers who in
vested the church's funds. With
their advice he made similar invest
ments of his small savings. His
annual return from his in
investments has been only
518 per cent, yet this return, added
to the modestly increasing principal
has built a substantial fund sufi1ci-
ent now to pay the minister's salary
Compound interest is one of the
greatest inventions in the world. 1t
is a sure device for creating a COM
Detence, a fund for a comfortable
old age, or large or small fortunes.
1t was the device this Minnesota
minister used. He put small saw
ngs into safe investments. The in
crest the investment securities
yielded was put back into sound Sc
,urities. Thousands of wealthy men
nave done and are doing the same
hing. There is no patent on COM
pound interest, anyone can use it. |
t works with the same efficiency |
or the poor as for the rich. Yet |
interest has accumulated |
more fortunes than have patent
lights, oil wells or steel mills. If
ou have difficulty in getting ahead,
ct acquainted with the power of
ompOund interest to accumulate to
honey.
90
In small Illinois city there is an
lderly couple living in cOntented
OmfOTt in their own home, with
leir own car, good one, and with
le satisfaction OF having put their
My son through the University of
-ichigan and given him a good
art in life. In the same town is
n expensive factory, built from
.ock subscriptions of the towns
9sidents, and idle and gathering
lst almost from the day it was fin
he'd
The maximum salary of thelodor-
r head of this little family has
ever been more than $125 a month,
ut from his first earnings he has
lved a little and has put every
9nt into farm mortgages, at first;
ter, into bonds. His investment
)ldings have yielded an average of
Y per. cent. That is the source of
IS position Of ease and comfort and
IS ability to give his son a good
lucation.
When the stock promoters came to
lat town, to bring it a great new
dustry and all his neighbors went
lid to buy stock, this man stayed
1t. 1t was true, he said that the
ne of industry these men said they
presented had made huge fortunes
1t it had been done in plants built
Id managed by men who were ex-
lrts in the industry and who did
It have time to go out organizing
w companies for the benefit of
rangers in strange towns. 1t look
to him as if those persuasive 8
Ock sellers were nothing but
Ock sellers and not men exper-
need in the industry. t
His judgment was correct. The
omoters put up an expensive fac
ry. They could afford to. They 4"
Int spend their own money. More {
er, they kept back, for promotion F
penses, a large and handsome sum
at paid them we'll. The law could \
t touch them; they were too
rewd. They let the stockholders A
le the idle factory-the stockhOld-
5 still have it and it's still idle.
it their neighbOrs have changed
cir minds about the financial judg-
mt Of the elderly man who was
ntent with 57a per cent and safe 4
Good stocks in enterprises back c
by honest, experienced men make s
Od investments. But stocks pro- T
tied by inexperienced, although E
nest men or by shady promoters I
2 dangerous, to say the least. =
low that the man from whom you 4
y securities is honest and exper-
iced. n
In an automobile repair shop Of
large nationally-known corpora