Henderson daily dispatch. (Henderson, N.C.) 1914-1995, 1936-05-13

day by Frederick Willetts, president
of the league.
Nine contestants, representing nine
of the leagues ten district participant
ed in the contest. which is the Gull
mination of school, county and dis
trict contests. Miss futile represented
Guilford county and District 5.
Second prize of $50 was won by
Miss Frances Diggs, Lilesville, rep
resenting District Z, and third prize
of $25 was won by Bobby Carorll,
Hamlet, representing District 6. Other
contestants were Miss Edna Herring,
Seven Springs, District /; Miss
Juanita Etheridge, Whitakers, Dis
trict 2; Miss Annie Belle Browne,
Powell, Glen Alpine, District g. Miss
Jessie Erwin, Catawba, District 9;
and Miss Bernice Jones, Union Mills,
District 10. 'The Keesler Memorial
Essay Contest Mr.. Willets stated,
"is sponsored by the League prf-
marily to promote habits of thrift and
savings and to create q desire for
home owner ship among the high
school students of the State. A great
deal of enthusiasm was displayed in
the contest this year, with approx
mately six thousand students parti-
cipatinS
Miss Tuttle's essay titled "Let
Thrift Be Your Ruling Habit" is re-
produced herewith:
Thrift is the wise use of whatever
we have Thrift may mean spending;
it may mean giving away; it may
mean saving. Each of us spends; each
of us gives away; each of us should
save even though it is only little.
But the moment we begin to save
problem confronts us: How should
we invest our savings? If there were
a perfect investment, the answer
would be simple. But experts agree
that there is no perfect investment,
if by perfect we mean one that
scores 100 per cent on every test that
can be applied. We must look, there
fore not for perfect investment but
for the best investment we can get
all things considered. Now, what tests
shall we apply, and, among the vari-
Gus investments that are available,
how do Building and Loan shares
meet these tests?
"The first test is safety. We want
our savings to be safe. For over
hundred years, through good times
and bad, Building and Loan Associa-
tons have, with few exceptions kept
safe the savings entrusted to their
care. Under state supervision they
place their money in one of the safest
things on earth-homes for owners to
live in. This means safety for the as
sociation and safety for the thrifty
investor in the association.
"The second test u.s. How much in
terest or dividends will it pay? Build
ing and Loan shares pay an average
of about five per cent dividends How
many safe investments pay five per-
cent today? High returns usually
mean less safety. But here, we have
a generous return with a high degree
of safety. Then, too, this five percent
means five percent. This income is
not taxed. What the investor earns,
then, is five percent with all taxes
| paid.
"A third test is the ease with which
the investment can be converted into
cash if the investor needs to with
draw his money quickly. Except in
panic times, Building and Loan stands
ready to return the investors money
Another test is: How much atten-
| ton and supervision does the invest
ment require? A few persons have the
ability to supervise carefully their
investments; most of us are unable,
or unwilling, to follow up and closely
watch our savings. But if we put our
money in the Building and Loan, we
need not give another thought to the
matter. These associations are man
aged by experts who give all of their
time to the careful investing of our
savings.
"A final, and for most Of us, very
important test, is how much incentive
to save does this investment offer?