, ' P. _ r . . . , . _ , - ,
10 TILE OMAHA DAILY DEE : ? SUNDAY NOVEMBER 3 , 18nj
1. '
-
.
Our Prices the Low-eslt 9 Our Terms the Easiest :
A B' A GAIN SA I THAT ECLIPSES '
All Our Previous Efforts.
Presents
Presents We will 1 sell you your Furniture Carpets , .
Given Stoves , and I-louse Furnishing - Goods 011 , - 1 U1 UV1 I L11flU ifi I II I IflLfl I Given
- - - - -
. . .Away r * . .o way
rr qtr n t- r & . ti. y '
, , { _ : : 'rrplhl' , ' ! l1 Y"ghll'r'Arl ' ! ' r ' '
1 Solid Oal { . _ , t i 1111 l Ill I I 1 ; i Il' ' W. tl1 Every
Sideboard
"t , - , 1 i I l r P > LUClflase of
Bed . I
1 . . xn. . ' ONI DOLLAR
R00111 SUtt
A { 1 ' _ Z-L yy 1A Y Ot.1 Receive
1 Par 1 or Suit Little Giant
oil stove a Chance at
1 E Kte11S1011 , . , Mantle I Folding , . .
Table sous Unk 1 h . I za : a full Bed sIze , . Hardwood $9 $ I JO $5'50 $ J ' , the Gra11d
6 Solid Oak -place - - - DISTRIBUTION
, Dining Chairs Parlor 1.1it ' Bargain Sate of
/ 'Jh Whicl1 Tales
, , , .
Overstuffed iH fine t,1j' ' , l , ' ,
1 Decorated Tapestry , fringed anD
around o W ' ; Place
- 100 Bargain price o ets
D- 111erhett rloo Carp
\ ti 'r DECEMBER 1st
1 Banquet : -
r , lF ry ! dam At ! Wool Ingrain . . . . . . . . . . . . . . 40C
' Lamp , . ,1 Half \Vool Inl rain : . . . . . . . . . . . . . 3Sc .
, _ . - Radiant Heavy Ingrain . . . . . . ! . . . . . . . . . 25C See Our
. . . Peninsular Hemp Carpet . . . . . . . . . . . . . . . . . . ISC .
I Dtst > i SbuHon i Takes Estate Oak (11 ( 1 r i AIa tint g , eamless . . . . . . . . . . . . . 20C x + 11W W. 111 dOWS
ptace December 1st. \Ve have the Regal . Royal and Brussels Carpet. . . . . . . . . . . . . . . . SSc
. and Radiant . . Peninsular . base b ur- Guaranteed . to Velvet Carpet . . . . . . . . . . . . . . . . . ,6c for Do tSp 1 ay of
1 Ticket 1 With 1 Every Cook Stove' large I oven , uar- ! 1cr. The finest heating stoves k I eel fi Ire WI .tl 1 So ft .oquette I . Carpet . . . . . . . . . . . . . . . $ 1.00 ' "
DOLLAR PURCHASE. anteed good bakers bargain $1 a 25 111 the city. Coal 48 hours a 011 Cloth . . . . . . . . . . . . . . . . . . . . . 17c PnEC'"EN Ts
. -
Our Open I
& t l\Ionday
d Terms r and
j tl t Are , . SatuI'day
tl'y t
, Easy 'y Evenings
y
, , > rOUT
,
OF TOWN of furniture sent . which will enable to buy if visited store.-
OUT CUSTOlVIERS---Photographs upon .applicationvhich \ you as cheaply as you our store.T "
I ' . . . . . ' ' . " . . . . _ ' " . . , . ' " ' . , . " , " " , " ' . . . ; r . . . ' . ' - _ ' . . ' ' . . , . , . . : 1 ' . . ' , . - ' , . . . -
c' . L 'i : .r. > ; : tj : V
: " ' " 1I' wi : .iJ& > ' ' ' ' fi ; < ' : ' ! i'f. r o + s6'i t. 'A"t' $ } ' "f " : i : ; .ii ; ? * " ' ( : ; " ; r. " ' ! ! j ; \ : .tX " .tr ! : ! tr'-tt7 ! : h
I
' T1 ROIL PLO 111OY ; ' TO SENATOR
Progressive Steps in Fame's ' Ladder Taken
by Shelby M , anHorn
f -
, - RECOLLECTIONS OF PIONEER DAYS
Some Early EXII'rh'IJI I" the Se ! cues
of l'e."IJClJ iced I'orlc StIII1\/ot-
" 'l'he l'rt."ltll''C road the
YI _ CI\IUIII\I 11I"\lCIi.
Ir
Iru -
( Col'rrllih\c.l. : : 1&9 : ; , by Fl1Inlt O. Cnrpenler )
+ WASHINGTON , Oct. 31.-1 had a long chat
( 4 the other night with Shelby M. Cullom , the
famous United States senator from Illinois
d 110 10 one or the most Interesting talkers
and simple In
among our public men. Plain
his ways , there are no frills nor furbelows
II about either himself or his conversation lie
calls a spade 11. spade , and ns 11. story teller
I has many or the attributes which were so
noted In Abraham Llnco1l1 , Ito grew up
under the shadow of Idnroln and his like-
ness to the martyred president has been often
II remarllell , No one - would call Cullom hand-
lm' ' ome. ills frame Is hlg , bony and angular.
it Ills figure Is straight , with shoulders 50
to rail from them
square that the arms seem
ILt right angles , the whole acting as a clothes
t frame for his Prince Albert coat. Ills ges-
i lures are not graceful and his face In repose
Is severe. When he talks , however , a smile
creeps out of the corneT ! of his eyes , the
lines of his features > > soften , and you forget
everything else In the Impression or honest
strength and good fellowship which shows
out at then1. You soon discover that Cullom
l has lots or personal magnetism , and that ,
t with It all , he Is full or brains , and at the I
same limo possessed \ or a remarkable degree
of plain , practical common sense. There are
few men In the United Slates who stand so
close to he t people and who appreciate their
wants so well There are few who hat o had
as remarkable a career and have not Men
spoiled by It i and few senators whose lives
woulll be more Inspiring examples to the boys ! .
I of the Unite : States
SENATOR CULLQ\I'S : DOYIIOOD.
During my visit with Senator Cullom I
drew ! ] him on to talk about his bo'hood lIe
told ( tuc that hiD family ws Scotch-Irish ,
and thkt t has ancestors came from Maryland
1 to enhlckY. It was thHe : that Cullorn was
born , and when he W6S A. baby or 9 months ,
chewing his little fists , which were not so
anKulu then , with h" toothless gums , and
qualllhg at times , J vnture , In more plerc-
InK tones th..n tMhe 119 now uses In the
United Slatek senate , the family moved to
Illinois They rode out anti In through the
lumps In canvas ( coveNlll wagons , and Baby
ullom . wrapped In a feather bed , was locked
by the Jolting \ ! or the wheels , Falter Cullom
' I nettled within fifteen miles of Peoria , taking
up 500 acres , and chopping a farm out ot the
rorut Baby Oullom crept over the log
floor And ! toddle' } abOut the clearings year by
) ' ear . until he became old enoug\ \ ) to go to
f Ichool. Ills first lessons were studied In 11.
i log school house , and working on the farm
and Hud'lng at school made up his boyhood
life ,
After ho bad finished his schooling at the
1 tOllntr school9 young Cullom concluded that
I he wanted II better education Ills rather
him to college and
I w 'as hardly able to send
l helby had to look out for hlmselL how
1 he succeeded 1111 till In his o.wn words. ' ,
t
Said he :
"I was about lj years old at this time 1
thought I ought to be better educated and I
looked about to see how I could make some
money to pay my way through the academies ,
I law I1n opening In a country school near
where I lived 1 applied for It and got II.
My wges at the start were $1'1 a month , and
i must have done pretty well , ror at the end
of the afcond month they raised pie \ to $20 ,
.nd 1 received this for the remainder or the
rtar , I boarded with the scholars and saved
' cent or ' munlflc salary , "
nearly every my
A PLO\\'UOY SENATOlt ,
"A whole 'Par's salary wouldu't amount to
lunch , senator , at $20 a month , " sail I. \\'as
thus ' the only way you hall to stake money ! "
.
, "No ; 1 made .om&thlnl , after , sch Jul was
:
. .
t
- - \ - - " r. . . . . .
over by llowlng I got $1.25 all acre for It. I
borrowed live yokes of oxen of my father
and went to breakIng up land for'the neIgh-
bors 'Ve plowed a furrow about eighteen
inches wide and hitched from four to five
yokes of oxen to the plow We fastened the
plow 10 wheels and set It for the proper
depth I walked outside and yelled At the
team. It Is not an easy matter to drive
oxen , I can tell you , and a great deal or the
lung power which I have today was , I venture ,
developed then"
"Dy the way , " the senator continued , with
a twinkle In his eye , "a rather queer Ihlng
happened In connection with that plowing.
You know they talked a little or me for Tlresl-
dent four years ago , and some of my old
friends In illinois thought I hllll a chance for
the white houso. One of these was farmer
for whom I had broken laud in any bo Y hood
lie f ; wrote ' i ; to "i ; 'e , - recalling i l " the " circumstance. ' :
He said he hall a print of my bare root , which
f had mad ! nt that time , In a clayey strip on
his lanll Ito said he had cut It out and
kept It and that he was going to frame It as
the foot of a president . "
"lie must have been one ot the grand-
fathers of Uu Iaurler's Billie , and history Is
only tepeatlng itself In the craze over the
root ot Trilby , " said I , as I looked at the
good , comfortable ullderstandlngs of Mr .
Cullom. "And did you plow In your bare feet ,
senator ? "
"Yes , 1 suppose so . " replied Mr Cullom ,
"We did a great deal of farm work In our
bare feet In early days. It was more comfortable -
fortable than vorklng with shoes , though
now and then one was liable to raise a stone
bruise or snag off a toe nail against a root. "
SCHOOLBOY STRUGOLl
"Where dId you go to school , senator ? ' I
asked.
"It was nt n 93mlnary at Mount : Morris ,
In northern Illinois , " replied Senator Cul-
lom There was a big Methodist Institu-
tion there at that time , and It was considered
a very good Cbool , I studIed Latin and
Greek and other things , but before I got
through I fell sick. This was within three
months ot the close or my term. I thought
I was going to dIe , and I wanted to go
homl. They persuaded me to stay , how-
ever , and give the valedIctory. "
"Then , I suppose you were at the hellll or
your class , senator ? "
"Yes , " replied Mr. Cullom , "I managed to
keep pretty close to the top "
"What did you 110 next ? "
"I came home , " was the reply. "No one
thought 1 would live I was as lean ae a
rail and pale as n sheet of white paper I
had an ambition 10 be a lawyer when I
started to the seminary , hut Illy slclllless
led lIIe to give this up allli go back to the
rarm Ten days after I got home I wall hi'
the harvest fiehl I 'Jon grew better , and
by fall I hall rented a quarter-seetlon of land
from my father and } was putting It In crops ,
As winter came on I grew restless I tolll
my father lie could have his land agllln , and
that 1 WI1l ! : going to Springfield to study
law ; "
ADRAlIAM I..INCOI.N'S BOY FRIEND .
"You studied there wIth Abraham Lincoln ,
did } YOU not ? "
"No , " replied Senator Cullom "I did not
stlllly In the office of \Ir. : \ Lincoln A great
dell of his work was on the circuit , and he
spent but little time In his office , I had
known him "lnee I wee ! a boy of 11 , and
he was already any " Ideal hero When I went
to Springfield I asked him Ir I had not better ; .
study la.lth hIm , but ho advised me to go
Into the ontce or n lawyer who wOllld be eta-
tlonary , lIe gave me lots ot good point" " .
however , IIl1d I was closely 119ocbted with
that
him from thllt time on " '
"lIow did you like the law ? " I asked ,
"I liked It very well , " replled the Hna-
tor , "anll I would not object to practicing
now I lId not get to bc a lawyer without
convldernbl& trouble A few 1II0nths alter I
took uII the study I began to get sick again ! .
f had : an attack of typhoid fever and hung
for sumo time between life and death , The
doctors told lIIe that the only thing that
could save me was 10 buy a pan and ! ride In
the open air. I then went back home and
tried the lIon cure But It was no lIood.
I had no object In my rides , and I coulll not
gain etrengthl
BUYING 1I0GS ON COMMISSION ,
"Thl was the situation when I went to
Peoria one day , It was then , as It Is now ,
quite a hog market I met one of the capitalists
tallsta and he asked \ 1 me If I would like 10
buy bogs for them lie offered to pay me 10
rents a hog , the farmers to keep the hogs
until they were wanted and to be paid the ,
.
- -
- -
market prices prevailing lit the time of dc-
livery. I accepted the proposition and started
out to buy. During the next few months 1
bought thousands of hogs .1 galloped from
one farm to another buyIng all the swine In
sight , and I contracted for all the hogs In
two or three counties At the CIO3 ! of my
season I found that I had cleared $500 , and
also that I bad entirely regained my health.
I took the money and went back 10 Spring-
field. I resumed my studies and was soon ad
mitted to the bar. "
"lIow did you get Into lolltlcs , senator ? "
"Every lawyer In those days was , to a
certain extent , II politician , " replied Senator
Cullom , "The law Is , aa a rule , one of the
stepping stones to politics. I got Into polities
because 1 tried to use politics as a stepping
stone to the IIIW I was practicing In Sprig. ! !
held , you know , and I thought If I became a
member or the legislrture that this would
give me acquaIntances all over the state and
would help my law buslnCI8. The result was !
that I became a candidate and was elected
1 was re-elected , then made speaker ot the
house ( and after that sent to congress Later
on I was elected governor for six years and
then sent 10 the United States senate There
you have It all In a nutshell. "
LINCOLN AS A STORY TELLER ,
"IIow about Lincoln , senator ? Was hc
really such II great story teller as Is claimed ? '
"Yes , " was the reply. "Dut he did not tell
stories for the sake or telling stories , Ills
stories came out In the shape of illustrations
of his thought , or to enforce his argumenls
Ito liked to talk , and during his lICe at
Springfield there was a drug store , which still
stands there , 10 which Lincoln used to come
nearly every night to talk. ' There was a
crowd who came there to listen to him , and
many an argument was sprung merely for
the sake of getting Lincoln to talking. 1Ie
would brighten UII as he began to talk , and I
used to sometimes think that he tell stories
to get away front his thoughts and himself.
When he was alone he would often drop Into
habits of deep meditation , would seem to be
gloomy and It was almost Impossible at such
times to arouse blm"
" 1 have beard that lie was moody and blue
and that he hovered at times on the verge of
Insanlt Is that so ? "
"lie may have been moody nt times , " re-
plied SeJator Cullom , "but his head was extraordinarily -
traordinarily clear. I used 10 think , when I
saw him sllllng allll IIIJparently brooding over
something , that he was possibly turnlllj over
the great questions concerning the matters
which he had to settle In after lICe , and that
the responslhlllties which lie was to have
were already before him , lie was , you
know , a philosopher , and hIs great mind and
soul were different from those of comlllon ;
" ,
men '
LINCOLN AND RELIG10
"Was Abraham Lincoln a religious man ? "
I asked
"In one sense h& was , and In another ,
not ; replied Senator Cullont "As to a be-
lief In a future state and a God , I think he
was , He had a religious side to his nature ,
end I han seen evidences that he hall made
a deep study or the bible. As to blnt a
doctrinal Chrlstlan-a believer In certain
creeds and churches-he was not. As to
hla study of such matters , I remember an
incident The Unlvenal\bt \ and Campll1lIlte
preachers of Springfield were holdln a joint
debate upon certain doctrines \ \ ell , one
night when they were discussing whether I
there was a hell Abraham Lincoln attendl'd. i
lie and I sat together , and when the two
preachers had finished their discussion we
walked } out. I remember Lincoln was disgusted -
gusted with the discussIon , lie swung him-
self out of his seat os they slated the de-
bale WII ! ! closed , and said 10 me : 'They have
scarcely touched ! the question. ' tie had
evWenlly been thinking upon the subject ,
and bad It all figured l out In his mln ! ! . "
"I have a book , senator , entitled , 'Was
Abraham Lincoln a Spiritualist ; and tryIng
lo prove that he was so , "
"I do ( not think that he was , " replied Senator -
tor Cullom
"What were the elements or his strength ! "
"Abraham Lincoln , " replied Senator Cul-
I lent , "had a great sympathY with the peo-
pie. Ife was ! a man or the people lie
could feel for them and with them , 1Ie.
had ! : great common sense and great executh.t
ability ; " ' . . .
LINCOLN AS A POLITICIAN
" { i'as ho a shrewd 1,0\lUcian \ ' "
"YI'S ; he was a good judge of men and
knew how to move them , "
"Was he ambitious " ,
"Ye ; very much ro , " was the reply "Dut
he was so wrapped up In the great questions
with whIch lIe ball 10 deal that It Is hard
to tell where his ambitions ended and hia
convlctlJna beglln. He was rar-s ( > elng , I
mremoalc-dha , : : . ! IUrnpalgn with Douglus. I
was In .it' . .vllh Lincoln , and when the re-
turns came In , . though Lincoln had the
popular vote , a legislature had been chosen
whIch would elect Douglae. I met Lincoln
coming home Just alter the news hall been
received. I saM : 'Well , Mr . Lincoln , we
are beaten.\ "
'Yes ; he replied , 'we are beaten ' "
" 'I am very sorry ; said I , and at this old
Abe put his band on nay shoulder , and , louk-
Ing down at me with a smile , replied : " 'Oh ,
my boy , don't worry : It wilt all come rIght
In the end ;
"I remembered his confident tone aCter-
word , and I believe he saw even then that his
defeat would make him president of the
United States
"I got my first desire to 11:0 : to Washington !
to congress through Lincoln , " \Ir. : \ tullom
went on. , "It waEl the night before he left
Sprlngfieldto go to his Inauguration. I was
at this time speaker of the Illinois bbu'C ! : , and I
I
as I entered his parlor I slid :
" ' Mr . President I want to come to Wash-
Ington It possible before you leave. '
"Llncln' ! ! eyes laughed as I used the words
'Mr. President ; and he replied , emphasizing
hIs form of address ! : 'Mr , Speaker , I hope
you will'
"I then began to scheme to get to Washington -
Ington and was soon elected a member or
congress , "
TilE ISSUES OF TIlE CAMPAIGN .
At this point the conversation turned to
politics , and during It I asked Senator Cul-
lom to give mee a short statement as to the
Issues of the next campaign
Senator Cullom replied : "The issues are
not many , but they are very important , The
republican party will espouse protection ,
sound money and true AmerIcanism , advocating -
catlng a strong foreign policy on the basis ! of
America as against ! ; the world , "
"Can the republican party succeed on such
a platform ? "
Yea , " repUd ; Senator Cullom ; I think
there Is no doubt of it . '
"Senater Cullom , " l'lld I , "how woulll you
like to be president ! or the "United States ? " ,
The senator thought a moment , and re-
plied :
"I would like It very much. I 110n't believe
It would ; be a very hard office to fill. The
president ! should choose good men 10 help
( duo . It he selects his cabinet and subordinates
nates properly ( these wilt bring the authorl-
ties , the sltuatlom : and the Information that
he needs properly'berore him , nllll good com-
mon sense Is enough to determine the rest , "
I' "What qualltles.shoulll a president have ? "
"lie sliould be a man or the people. lie
should \'e a patriotic American , should b3
possessed or common sense , and be a man
who knows how to select men and handle
.
men. " .
"I liear your name mentioned In many
quarters for the )1Olltlon ) , " said I , "as a can.
dldate for the republican party , "
"Y s. " replied Senator Cullom , , "I ! have
been talked or In limes past , and I believe
there Is some talk about me now , To tell
the truth , I am tired of the talk , and I have
illustrated my situation by comparing ' It with
that of.a boy Who went 10 school with me at
bo ' I will call Sam
Mount " lorrls. This boy
lie Is II prominent man now , and I dare not
mention hla namo. Well , Sam could not for
the lICe or him learn Latin , and he was kept
In the same Latin hook from one term to
another At last his teacher , In despair , said
to him :
" 'Sammhy (10n't you study and gel
out ot this ? Aren't you aE'lIamed to remain
right ; jthl9 In the same place week after
week.t"
"Sam bIked through his noe. His conversation . i
sation was a continuous whine , and In replY
he.\vhlned out : 'Ye , I am , and I would
study If 1 hall a new book , hut I am tired of
thll It's the came old thing over and over
again and If It's not to go any farther , 1
want ; to stop It , '
t' A7td that , " concluded the senator , with a
ll\ugh \ "II my position as to the talk about
Im' ! for the presidency ; "
¶ " ; 11" - " I , , lM\ . lity
. .
. .
, '
DeWLtt'l Little Early Risers , the pills
that cure conslIpar'u , a"d bliousuess. :
CO-OPERATIVE IIO BUILDING
Urgent Demand for Official Supervision in
Iowa ,
RECOMMENDATIONS OF STATE AUDITOR
CnJe\lJnUO\l1l 011 time COllt of 1\ Hem ,
-The Home OWller curd th. ' ' 1'ell-
nlll-A Comlllon J'JeUolI- , I' '
nrowth In .Jere'
I
The cosily experience ot the people of
Iowa In dealing ! with speculative building and
loan associations of which Hlchmollll's Union
of Des Moines was the most conspicuous
example , promises to brinK about the enact-
ment of adequate laws for the government
ot all assocIations. At present there Is prac-
tically no legal restriction on their methods ,
no provIsion for supervision and examination ,
and no penalty for a species or swindling ;
which obtains a foothold under the cloak
ot co-operative home building.
State Auditor McCarthy urges , In hIs bien-
nial report , that the next general assembly
should enact ahme law governing building
and loan assocIations , and It Is quite probable
that something will be done In that line
this winter , lIIr. McCarthy : \ says :
"I am convinced that the Interests or our
citizens , who are investing : In most cases
their bard earned savings , and In many In-
stnncts at II sacrifice or the ordinary com-
forts or lire , should be protected by some
good , wholesome law , bringing Institutions
of thin ' character under state supervision.
During the past tow years many savings and
loan or building and loan associations have
been organized In this slate. The aggregate
assets of these financial Institutions amount
now to many millions of dollars They are
likely to Increase In number and volume of
business In the future , It proper and f'lIltable
laws lire enacted 1 by the Twent-slxth gen-
eral assembly providing the manner or organIzation -
ganIzation and this necessary privileges and
powers for the proper conduct of the bus-
In03l' , to the end that these very necessary
and Important financial Institutions may be
sate , stable and profitable for all persons
who may become membrs. Savings and
loan associations occupy a field In finance
which Is peculiarly their own. Their true
mlt\5lon or legitimate business Is that of accumulating -
cumulating 11. loan Lund from slllall bums or
1II0ney paId upon stock It regular periods
and tune making of loans 10 their members
from thIs fund for a long perIod of time ,
which loans are to be repaid monthly- .
or other installments , until thu ! stock Is ma-
turell and the loans canceled , This field Is
ono that ordInary nations I , stale or savings
banks cannot safely occupy , because they can-
nol snake long time loans with short time
Ilepo lts , It 15 quite evident that there Is a
great demand for long time loans which
cannel he supplied by banks , and that this
demand nest he supplied , If at all , by savIngs -
Ings and loan associations , SInce safety and
stablllly of capital are ot paramount Impor-
tanel ! > In all Unsnclal Institutions , since the true
mission or savings and loan associations Is to
make long time loans , and since these asso-
ciations cannot make such loans safely on
short time deposits any more than banks can
do so , It therefore follows that all such aFSO-
elations must Incorporate In line plan of
business such efficient rearonable and proper
safeguards as will In the conduct of their
business , protect ) the association from sudden -
lIen withdrawals or impairment or their capitol .
tel Good laws have been enacted by I\ln- : \
nerota , Illinois , Ohio , Wisconsin , : Missouri
Nebraska 8nll many other sister states , and It
would seem high time that the state of IOlla
Ehoulll also enact a suitable law "
TIIII code commitissloners of the elate have
anticipated the recommendations of the aUlllt-
era and have prepare < a very stringent bill ,
which they will recommend to the legh'lature
It requires ( that companies ! may begin busl-
peas when 5 per cent or the authorized esp-
Ital 19 sub Crlbel1. The articles or incorpora-
tlon and by-law ! must bo approved < by the
executive council The auditor may require
amendmentl' , and any association railing for
thirty days to comply with such lulremenls ;
shall forfeit its certificate. The expense ! ! or
each association shall be paid from a fixed
charlie , provided In the articles ! of lncorpora-
tlon , of not to exceed $8 , or such less sum
as the executive council \ shall determine , to
carry any Installment of stock to II par value
of $100. The net earnings of such associations -
110m shall be transferred to the credit or all \
members annually or Rend-annually , and shall
be paid to them IUi the articles of Incorporation -
tion may provide. I
OHOWTII IN JERSEY.
Since 1890 the total number of shares and
net assets In all the local associations In
New Jersey have Increased 131.000 and $14-
303,000 , respectively , and , In fact , them hiss
been a marked Increase every year In both
during the last ten years The slzo of older
organizations , too , Is steadily Increasing The
average amount of net assets has increased I
more than 30 per cent since 1890 , and In the
number of shares the average Increase has
been In about the same proportion , The four
largest associations In I the state are the Pat-
erscn Union Mutual tln'.n years In IX ste.le :
the Harrison peOiJt-'p , twenty-one years : the
Newark Fourtenth Ward , n'ne years , and the
Jersey City Greenvllle , eighteen ) 'ear& ,
Th(1 figures or thc report show Essex liS a
county and Newark as II city to lead all other
parts ot the state As In previous years , the
report shows that 205 associations comprise
the bulk or the total number of shares and
assets In the statl. They are located In six
counlles- } ; ssex , lIudson , Camden , Passaic
Union and 1\11l1lllesex-lludson being first In
the number or shares , Bsex lealllng even
Hudson by nearly tOOOOO In assets.
Hudson has total assets or $8,182.980 , with
142,462 shares and fiCly-one lsscclatlons ! Bssex
has sixty-seven associations , with 137,833
shares , end net assets amounting to $8GG6.-
-
871.
1I0W IT WORKS.
It Is popularly thought that when a man
borrows money , whether to build a house or
buy a. gold mine , ho Is going Into debt. But
a bright , writer In the Philadelphia ' Ledger
puts a new race on It when the money Is
used to buy a home , lie cleverly says :
"The building society mortgage ! ; III by no
means a dtbt , In the full meaning of that
uncomrortable word Without a home or hIs
own a man iii I forever In debt for Ids ! rent ,
present and future This makes It clear that
by refusing ! to borrow to build a home a
man does not escape tine necessity of paying
out money every month. That obligation he
cannot escape , unless he lives In his own
home , fully paid ror. It Is necessary that
ho live somewhere , It he lives at all , arid
the sooner he turns his rent payments Into
a common fund , which makes him the more
his own landlord every time hc pays , the
better off he will be. To build II home for
himself ! Is not , therefore , to assume some
extra obligations but , instead , to start out
on the only practicable scheme for escaping !
an Increasingly / onerous obligation to pay
tribute to the lan < llorll , "
When the workingman can gain a home
through a building association at little or
no more than his previous monthly rent , he ,
at least at \l1e \ end of the term , owns his
horne , whHea9 had lie continued a rent layer
he would not have owned anylhlng Many :
have become full home owners In less than
twelve ) 'esre , During the first twelve years .
while the p1)'lIIents are being ! IIInde , the
anxiety may be considerable , and the home
buyer may not realize what Is happening to
him , because he Ie paying out monthly as
than Ids ! :
little more ,
much , ur perhaps It
previous rent.
But when the second term or twell'e years
begins he Is at once relieved or all payments
except for taxes etc. When this point ar-
rives he tully realizes his position \ and the
wisdom or his act In buying the home. U
he finds II no burden to pay out ns much
monthly ab he dill before say $15 per month ,
ho can take fifteen shares of stock ! In the
same society that aillell him to purchasA his
house and when the second term at twelve
years ends < he will bo the owner or $3,000 In
cash besides having his home free of deM.
Ills neighbor \ may bllll 1m a renter , owing
$15 I a month to the owner of the ! houMe ,
Shonld he see fit to keep on for stIli another
twelve years . or 11 third , term ( and vey many
people have paid \ rent for Ihlrty-slx years ) .
his : natural gain over his neighbor who rents
woulll be :
One house , fro or debt , valne. . . . . . . . . $ I ,
Product : of $11i per month for the third
term . . , . . . . , . . ' . . , . . . . . , . . , . . ' " . . . , . . , . . , . 3IJO (
Product of second term , Investel ) twelve
years ago. . . . . . . . . , . . . . . . . . , . . , . . . . . . . . . . . . 3.000
Twelve 'ears' interest all same , . . . . . . . , /,24j :
Total . . . ' . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . .t9iOO *
This Is a sImple fact
A COMMON I'ICT10N.
"Tllne are tome points upon which the
puhllc docs not seem 10 be advised , " says II
I. Gray , deputy supervisor of building and
lean associations In Missouri "One of these
Is the fact that building and loan assoclll- +
lions usually have what Is known as an authorized - 1
thorlzell capital. The amount authorized In
a charter of a national association Is seldom
less than $1,000,000 , and sometimes runs liS
high as $10,000,000 Some of the societies
cmlt the word 'authorIzed' In their printed
matter , and < ay 'eOIJllal stock $10,000,000 , ' or
less , liS the case may be. Thousands of per-
sons take this to indicate real capital , when ,
In fact oftentimes the association Is not only
Insolvent , but , moreover , may not have more
than a few hundred l or a few thousallli dol-
lars In resources. In fact , the associations
have no more lo start with than the advance
payment ot dues by the incorporatmsr It on
the national plan It will lake from thirty to
sixty months for one to hecome solvent , If It
deducts from Installments 20 to 25 per cent
for an expense fund , or Bo-cnlled guarantee _ _ _
fund , as most of them du
"Th rrore , persons taIling stock In an as-
sedation on the plan referred to should not
hope to get out , even In less than three to
four years , not counting Interest or profit ,
unless they are laid at a toss to those that
remain . In the association. This Is some-
times the case , nnd without supervision would
not be discovered hy one In a thousand who
confide In the manaement's ! ' ; fair promises ,
and who expect Improbable , oven Impossible ,
results , There are these who have wltllllra"
within the last rew years front the associations -
lions that have been Incompetently managed
who have drawn out morc per share than Is
to the credit of those who have cenllnued
payments and membership The last criti-
cism does nol apply to nil national associations -
lions , limit most of what I have staled applies
to many of Ihem. '
1I0:11E : OWNlm AND TENANT ,
It Is 00 otten stated , 8JYS line PhiladelphIa
Ledger , that the homeseeker makes a better
citizen and a better father , ThIs hy no
means Implies that the tenant Is not a good
citizen nor a good father , but that the hamne-
seeker ; Is more likely to center ids attentions
on the home , I\t least while he Is In the
act at gaining It , and as this act extends <
over many years , 110 at the end graduates :
from a school of thrift and economy the lessons .
sons of which are never forgotten. Indeed ,
the home fek I' , when he becomes a home
owner , at once engages In the business ! of
teaching his neighbors how to save and
gain homes of their own It makes him II
better father , because he 18 trying to do a
more permanent good for his ! wife and his
children than the nllln who care only to
live In the present and for the present The
home getter Is a better citizen because ho
Is doing hum part toward building UI a city
or homes for the people In times of violent
disturbance the home getter finds It II question -
tion of vital nece.y : ! on his part tu cat his
lot ou the aide of law and order. Some.
lIme9 this view Is distorted to mean that Ihd
owners of real estate make the better law
makers or tire safest rulers of titles anrt
states This , we think , depends ) ! on their
honesly. It they arc dishonest ! , wlllt they dd
or do not own will not influence thorn In tine
slightest ' degree A dishonest lawmaker , It
ho owned fifty houses , would not hesitate
one Instant to favor measures that would increate -
create his own as well 119 the taxes ! 01\ \ other
homes , It his dishonest act result In adding
io his rent roll fitly additional IJropertle
I
No matter who the Individual < b , and no matter -
ter what ho owns or what possessions h&
Jacks , It he lacks ! honety ! he Is a bad citizen -
zen We know that the building McletiU
are doing a great work for the people , and \
wo lire willing 10 rest on the tpDlImony Qf !
hundreds who have assured us that their , . .
homed : / are hy far brighter ; and happl'r since
they joined the list of homeieelterll than thief
ever were before ,
The Cleveland Leader has thIs to say abo'I' ' '
building and loan associations : "It otlQI\
happens that the idea of owning a home , of
gaining ! ! : Independence of landlords and ae-
qU'rlrllt ' poesossion of a fixed place ' of abide . ,
appeals with great force to the very persons
who are indifferent to the savings bank ! anti
tile lICe Insurance companies , To such the \
building and loan auoclatlms are Invaluablr.
and It would be hard 10 exaggerate lime good ; -
they have done , or the benefits which they
will bestow In the future upon m'Iltltudea of
waje'PIII'neu ! ; , and ! other people ot moderate
mellns Already they have been the means
at multiplying homes and home.earners III
sumo of the great cltl" s or the United Stated
10 an extent thst hu attracted the attention
and aroused the IIdmlrl\t'on ' of the couutr ) ' ,
