Evening Republican, Volume 19, Number 272, Rensselaer, Jasper County, 16 November 1915 — BEST THING POSSIBLE FOR CITY’S GROWTH [ARTICLE]

BEST THING POSSIBLE FOR CITY’S GROWTH

Building & Loan Association Endorsed By All Who Have Seen Their Prosperous Effect. With less than half of the business section of the city canvassed for subscirptions of stock in the proposed Building, Loan & Savings Association, Delos Dean reports something like 250 of the 500 shares of stock pledged, while many others are simply debating how many shares they will take and others are waiting fbr the calling of a public meeting to learn something more about the plan before signing for stock.

That the organization will be formed and that it will prove a great thing for this city is assqred. Those who had stock in the term series association in this city some twenty years ago recall that it was a great thing for both investors and borrowers and that many secured homes in this city that would otherwise still be renting property. Others saved the money and when their stock had matured had money to put them into business. Others withdrew their money and made other investments. Several who have lived in other cities where there are active building and loan associations have first knowledge of the excellent effects on the upbuilding of the towns. Strangers who have moved here during the past few months have expressed surprise that there was no association here and are giving the organization the assistance of their enthusiasm.

Practically every businessman has signified his intention of taking stock and Mr. Dean met objection in only one or two places, usually from persons who had made unfortunate wildcat investments at some time and Who could not distinguish the difference between a home impfovement association and promoter’s scheme in Timbucktoo. A number are taking out stock for their children and in this way providing a little nest egg for some future time. This is a very commendable thing to do and is urged for others. This association should have the assistance of -the small savers, of the laboring men, mechanics and small wage earners and it is organized to inspire thrift on their part and to make it possible that many will build homes for themselves that otherwise would pay rents indefinitely. Mr. Dean will be pleased to have you call him at Phone 31 and subscribe for stock. There may be some details of the investment that can not be fully explained, because the full plans will be developed by the stockholders, themselves. The wbrking plans of the association, however, will be patterned after the other associations in the state and a study is being made of by-laws of several associations and the best features of each will be worked out. Possibly a plan for small weekly savings will be developed. A preliminary meeting of the stockholders will be called soon and it should be largely attended. In the meantime all who want to see Rensselaer a hive of building industry are urged to subscribe for stock. Less than 200 shares remain to be sold.