Evening star., 1939-04-03
Woman Bank Official
Tells How 10 Create
Independent Income
Mrs. Helene Reed Says
Definite Saving Plan
Is First Essential
By EDWARD C. STONE.

By EDWARD c. STONE.
Speaking on Savings and IN
vestments" before group OF wash
ington women, Mrs. Helena D. Reed,
assistant trust officer of the Lincoln
National Bank, declared that it does
not require unusual advantages or
talent to create an independent in
come. Many men and women OF
large achievement began poor.
There is an open road, she said, for
any one of fair intelligence who is
willing to make the effort, the meas
ure of success depending largely on
the steadfastness of purpose.
Mrs. Reed told her women hearers
that the first essential OF all is to
save a part of earnings and to In
vest these savings with the idea OF
keeping them invested, letting in
terest and compound interest help.
In maintaining compensating bal
ance in either a checking or savings
account, a credit reputation is built
up which is of the greatest value.
Continuing her advice, she said:
Rarely indeed does any one make
his mark in the world without hav-
ing occasion to use his credit. 1t
behooves every one who aspires to
success to establish his credit repu-
tation. To possess good credit is to
have people believe in you, trust you,
know that when you give your word
you will keep it. Mark we'll the
three Cs of credit: Capital, char
acter and capacity.
Until one has become skillful
investor through long study of the
principles of sound investment, she
should place her reliance on a pru-
dent, trained investor. Mrs. Reed
said.
Safety First Consideration.
Security of principal is the first
consideration. Interest return comes
second in Importance. The higher
the interest. generally the lower the
security. Capital should not be
frozen in investments for which the
market is doubtful.
The careful investor does not deal
blindly with strangers but with a
reputable bank or investment house.
Many mistake speculation for in
vestment. They buy stocks, for in
stance, without investigating their
true worth. They buy on margin
with the expectation of selling
quickly at profit rather than hold
ing the stock for dividend income
THE young woman may need all
her money at once for study vaca-
ton, an emergency for marriage, for
the purchase of a home. for busi-
ness opportunity She should put
most of her savings in the bank,
building association and in some
readily salable bonds.
prosperous men who take active
part In business can safely take the
risks that come through trading in
stocks. Once we'll settled in life,
good investors buy more bonds and
mortgages of higher yield, though
less readily marketable.
widows with insurance and other
funds need safety first and then
permanence of income They need
but few readily marketable securi-
ties. First-trust notes, secured on
real estate and Government bonds.
are wise investments for them,"
Mrs Reed concluded
Virginia Banks Aid Farmers.
A marked increase In banker
farmer activities during 1888 is
noted in the report of the Agricul-
tural Commission of the American
Bankers Association, which points
out that 18 States were placed on
the honor roll for attaining the goal
of 1000 points in banker agricul-
tural activities
Five new States were added to
13 other States which previously
have been honored for attaining
this high record and which main
tanned their creditable standing, ac-
cording to Dan H. Otis, director of
the bankers agricultural commits
sion. The new States are: Alabama,
Colorado, Idaho, Minnesota and
Virginia
Virginia has record Of 5.197
farm people, including boys and
girls, contacted during the year rela-
tive to projects. Bankers attend
ance at agricultural meetings
amounted to 372 and reported con-
tribution for agricultural work
amounted to S2,047. Sixty-nine
banks reported some form of special
activity.
Manufacturers Sales Climb.
Manufacturers sales for Febru-
ary, 1889, increased per cent over
February, 1888, according to in
formation received from 1879 man.
ufacturers, it was announced today
by Director William L. Austin. Bu-
reau of the Census.
Total sales CT these manufac-
turers during February of this year
amounted to $278,00OO0O, as COM
pared with sales volume of $685.
100000 in February of last year and
$283,000,000 during January, 1889.
This is the fourth consecutive month
sales have shown an increase over
the same month a year ago.
Collections during February
amounted to n per cent of total
accounts receivable outstanding on
February /, 1885, The comparable
ratio was 73 per cent for February,
1898, and 81 per cent for January,
1882
Heard in Financial District,
Confidence in an early upswing in
the building materials business was
expressed today by Edwin G. Roos
vice president of the Certain -Teed
Products Corp. here for a two-day
sales conference at the Mayf1ower
Hotel, opening tomorrow. He added
that he believed residential con-
struction in the second quarter would
exceed the first quarter by Is per
cent.
Bernard L. Wilmer, general agent
Of the State Mutual Life Assurance
Co. of Worcester. Mass, announced