Rensselaer Republican, Volume 27, Number 24, Rensselaer, Jasper County, 7 February 1895 — Page 4

THE REP U BLI CAN Thursday, February .7, 1895. r 0-“ ■ — ; • ■ IbHL'EL IVIBY THURSDAY BI QEb: S. PUBLISHES AND PBOrttIBTOB. e OFFICE In Republican building, on •rner ol Washington and Weston streets. TERMS OF SUBSCRIPTION. One Year ..$1.50 Six Months 75 > Three Months ... 50 Official Paper oj Jasper County -.

About Building And Loan Associations.

The strong" disposition evinced by the present State Legislature to change, amend or add to the laws relating to building and loan associations, may result in some very salutary legislation, arid again the resulting laws may be quite the reverse of salutary. Whatever changes are made should be with the view to make these institutions more effective in securing these two primary objects of their organization: Namely, assisting people of limited means to obtain homes of their own; and, second, affording a safe and convenient method for laying up small savings, for people who can not save in larger sums. The perversion of these institutions into instrumentalities for securing exorbitant prohts for investors, and for paying enormous salaries to officers, should be discouraged. Mislead by specious but fallacious chains of reasoning; and by delusive prospects of early paying out, borrowing stockholders often pay most exorbitant premiums, and entirely too high rates of interest. These borrowers, although they are paying back the principal

of their debt, every month or every week, in the form of regular dues, yet they get no reduction of their regular interest charge, as is the case in all other partial payment forms of paying debts. In most cases, too, a considerable portion of the money these borrowing stockholders are paying interest on, is actually their own money, paid into the association, in the form of dues, before they became borrowers. Owing to these facts, and often also to large premiums paid, it usually results that borrowers from building and .loan agsociations pay larger interest’lhan they would pay had they borrowed the same amount from almost any other source; and in the case of the national or state organizations, the enormous sums paid

-in salaries and other expenses make the matter still more unfavorable for the borrowers. The tacts that in the oidinary local association the non-borrowing stockholder usually gets from 12 to 20 per cent, profit on his investment, and in the national associations the officers all draw princely salaries,are conclusive proofs, without any figuring, that the borrowers usually pay too much for what they get. To remedy this injustice the law should limit the rate of interest paid by borrowers to not more than 6 per cent., and all premiums should be abolished and priority

of loans be based on priority of applications; or else the premiums should be limited to a very small figure. To that division of non-borrow-ing shareholders who go into building and loan associations because they furnish a good way in which to save up a little money, which would otherwise be spent, these suggested changes will not be objectionable, as they will add to rather than take from their safety as depositories of their savings; and still leave a chance for profits sufficiently large to satisfy any reasonable expectation. The other class of non-borrowters, the investors for profit, may not be so well pleased, but, generally speaking,'they are altogether too numerous in building and loan associations, anyhow, and a large diminution in their numbers would be a desirable result The “expense fund*’ in the large associations should by all means

be abolished; or greatly curtailed; and. the payment of immense salaries to officers should be prohibited. The interests of all classes of stockholders <!emandthtse changes. “

In the interest of both borrowing and non-borrowing stockholders, that senseless and mischievous clause in the existing law' which, requires associations to fix a time in their by-laws for the association, or for each series of it, to wind up r should be repealed. Many associations have become involved ininextricable confusion and disaster on account of this requirement. The proposition to limit the amolint loaned to borrowers to 60 per cent. of the value of the property offered as security, would practically destroy the usefulness of building and loan associations to that class to whom they are now most useful; namely those who are unable, by any dther means, to become possessors of homes of their own. Such a provision might further the ends of the money-making managers of the general associations, but in the case of the local associations it Fould be most in j u rious. The man with no capital but his hands would have no such chance, as now, to get a home through the building and loan associations. As the law now is, it is a common occurence for well managed local associations to advance so au industrious and reliable stockholder practically the whole amount required to build or buy a home. This is a very frequent experience with all local associations, and very seldom indeed, does any association suffer loss from the practice. A very important fact that should be borne in mind, in connection with this point, is that nearly all building and loan borrowers have been paying dues on their shares for from one month to several years, before they borrow on those shares, and the whole sum thus previously paid, is really so much of the debt paid -in advance, and is both a diminution of the amount risked by the association; and is also a powerful incentive to the borrower to continue the payments. Leave to the board of directors, in local associatio.s, the power to decide in each case as it arises how much they can safely lend to their stockholders.

The question of taxing building and loan stock is one that ought not to be difficult of solution. As all property ought to pay its full share of taxation, there is no good reason why money deposited in building and loan associations obould not be listed for taxes. In this respect, let the solvent building and loan association be looked Upon the same as a solvent bank; and each person be assessed the amount the association has in its care, belonging to him. The lawful withdrawal value at the time of assessment is]what each share should be assessed at. This, as the law now is, is all that has been paid in as dues, on such share, with 6 per cent, interest for the average time since it was paid. “Paid-up” shares should be assessed all that was paid for them, with G per cent. interest added. Shares that have been borrowed on should not be assessed, any more than should an overdrawn bauk account. Tq tax them would be equivalent to taxing a man for what he owed. The borrowers are are taxed already, in point of fact; either on the property in which they invested what they borrowed or on the money itself, if they still have it.

The mortgages which borrowing shareholders give to secure the regular payment of their duas and interest, until the association or series winds up, should not be taved, because the money which they actually represent will all, or practically all, be covered by the taxing of the shares. Moreover, the actual value of these mortgages is always indefinite, and constantly diminishing. And in no case are they worth what their faces seem to

call fpr. Thus a shareholder may borrow, say §I,OOO, on shares that have been running many years. He will execute hjs mortgage for 81,000, and perhaps before he has paid §SO the series will pay out and his mortgage will be released, without further payments.

It is an off day in the State Legislature when a new congressional apportionment bill is not introduced in one house or the other. One of the very latest of these puts Jfsper county in the 11th district; which is to be of the same counties as this present 10th district, with Starke county thrown in, for good count, or because no body else will have it Still another proposed measure puts Jasper in the 13th district, composed of Jasper, Newton, Pulaski, Starke, Lake, Porter, LaPort®, St. Joseph and Marshall.

PUBLIC SALE. The undersigned will offer at Public Auction at his residence five miles southeast of Rensselaer, in Marion township, Jasper county, Ind. beginning at 10 o’clock a. m. on THURSDAY, FEB’Y, 21st, the following described property, towit; SIX HEAD OF HORSES, (1 good brood mare, 5 half blood French Coach, 2 four-year-olds 2 two'year : olds, 1 yearling) 1-9 interest in an imported French? Coach Stallion, 23 head of cattle, (6 milch cows, 19 steers, 4 three-year-olds, 4 two-year old, 7 yearlings, to calves) 1 wagon, 1 two-seated buggy, 1 Fly ing Dutchman plow, 1 sod bob sled, 2 sets work harnesss, 1 set double buggy harness, hay in stack, corn in shock, stove wood in pile, and numerous other articles. Terms —One year’s credit without interest, or 8 per cent, discount for cash, on sums over $5. No property removed until terms are complied with. J. F. SMITH. We have now made arrangements to again club with the weekly Inter Ocean, of Chicago; and the weekly New York Tribune. The Republican and the Inter Ocean,both one year, for $1.85. The Republican and the New York Tribune, both one year, $1.75. All three papers one year, $2.10. The above offers apply to all—old subscribers as well as new. Ten different makes of Sewing ma chines. At Steward’s. Estey organs and pianos, and Estey AihUip organs and pianos, on exhibi ion at C. B. Steward’s. SPECIAL OFFER —For a short time only, to any person paying us two years’ subscription ($3.00) on one paper, or one years’ subscription on two papers, we will give a free copy for one year of either the Inter Ocean or New York Tribune. Free sample copies of either of these papers may be had at The Republican office, at any time.

False. Some one has made a statement that I am but of the ii surance business which is false. lam representing some of the best fire insurance Cos , that do business in Rensselaer, and I am here to stay. And I wish to say to m3' many, many customers to continue to come. I am doing the business and expect to. Yours truly B. F. Ferguson. CHAS. VICK, the Optician sells the best Spectacles and Eye Glasses that are made In the world. The best that money can buy, and sells them at hard times prices. Drop him a postal card and he will call and fit you with a pair of Spectacles or Eye Glasses to your entire satisaction. Rensselaer, Ind. Teeth Extracted Free' NO PAIN. Dr. C. R. Kuderling dentist, will be at Makeever House Tuesday, Wednesday, Thursday and Friday, Feb. 12th, 13th, 14th and 15th, 1895Best set of teeth t 6.00. Gold fillings SI.OO, silver 50c. * C. R. Kuderling. Relief in Six HoursDistressing Kidney and Bladder diseases relieved in six hours by the ‘New Great South American Kidney cure’ ’ This new remedy is a great surprise on account of its exceeding promptness in relieving pain in the bladder, kidneys, back and every part of the urinary passages in male or female. In relieves retention ot water and pain in passing it almost immediately, If you want quick relief and cure this is the remedy. Sold by A. F. Long & Co druggists. Rensselaer, Ind. Idee 94

COULD HARDLY WALK ON ACCOUNT OF RHEUMATISM KH.’PfIRD —of— Q uachila City, La., i Jl After Wm jhh ™° VEARS '* *1 IS CURED “ IfarMfe -BTthe use of 9 Ayer’s Sarsaparilla ■■ ' ’• J * “ For fully two years, I suffered from rheumatism, and was frequently in such o a condition that I could hardly walk, o I spent some time in Hot Springs, Ark., ® and the treatment helped me for the o time being; but soon the complaint re- O turned and I was as badly afflicted as Q ever. Ayer’s Sarsaparilla being recom- p mended, I resolved to try it, and, after C using six bottles, I was completely ® cured.”—P. H. Ford, Quachita City, La. o Ayer’SoXSarsaparilla| Admitted o e at THE WORLD’S FAIR® OOOOOOqOOQOOOQOOOQPQPQfr SURROUNDED BY MYSTERY! A Great Mistake.

A recent discovery is that headache, dizziness, dullness, confusion of the mind, etc., are due to derangement of the nerve centers which supply the brain with nerve force; that Indigestion, dyspepsia, neuralgia, wind in stomach, etc., arise from the derangement of the nerve centers supplying these organs with nerve fluid or force. This is likewise true of many diseases of the heart and lungs. The nerve system is like a telegraph system, as will be seen by the accompanying cut. The little . white lines are fSpj&A the nerves which (rfSSg convey the nerve NsfMP force from the nerve centers to /ygwfo. every part of the BfKswi V body, just as the elec trie current is conveyed along the telegraph ygt&JJW Wi Wires to every ■Slw'aJsJ Bwl station, large or Bar U| small. Ordinary A?' Sswf WH Hi physicians fail to ® regard this fact; fffr mtMlSSga Bs Instead of treat- r Ing the nerve cen- ’ ters for thecause o f the disorders Bjdy nfflJSf arising therefrom Bfiy nil they treat the BJa part affected. K Su lS Franklin Miles, Sus M. D„ LL.B., the W Kff highlycelebrated rll specialist and Brfa ~ student of nervous diseases,. and author of many noted treatises on the latter subject, long since realized the truth of the first statement, and his Restorative Nervine is prepared on that principle. Its success in curing all diseases arising from derangement of the nervous system is wonderful, as the thousands of unsolicited testimonials in possession of the company manufacturing the remedy amply prove. Dr. Miles’ Restorative Nervine is a reliable remedy for all nervous diseases, such as headache, nervous debility, prostration, sleeplessness, dizziness hysteria, sexual debility,St. Vitus dance, epilepsy, etc. It is gold druggists on a positive guarantee, or sent direct by the Dr. Miles Medical Co., Elkhart, Ind., on receipt of price, SI per bottle, six bottles for 85, express prepaid. Restorative Nervine positively contains DO opiates or dangerous drugs. y all Druggists. Rheumatism Cured in . uaV_*Mystie Cure” for Rheumatism and Neuralgia' radically cures in 1 to 8 dafs. Its at tien upon thersystem is remarkable and mysterious. It removes at once the cause,' and the disease immediately disappears. The first dose greatly benefits, 7r> cents. Sold by A F, Long & Co., druggists, Rensselae

English Spavin Liniment removes any Hard,. Soft or Calloused Lumps and Blemishes from horses, Blood Spavins, Curbi Splints, Sweeney, Ring-bone, Stifles Sprains, all Swollen Throats Cougs, etc. Save SSO bv use of one bottle Warranted the most wonderful Alembh Cure ever known. Sold by B. F. Long & Co., Druggist, Rensselaer, nd. Dec 1 94. Free Fills Send your address to II E. Buckion & Co., < hicago, and get a free sample box of Dr. King's New Life I ills. A trial will convince you ff heir merits. These pills.are easv in action aed particularly effective in the cure of Constipation and Sick H adache tor Malaria and Liver troubles they have been pro ved invaluable. ’They are guaranteed to be i erfectly free frem every deleterous substance and to be purely vegetable, They do n>t weaken by their action, but by giving tone to stoma h aud bowels greatly invigor ate the system. Regular size 25c. per box. Sold by F. B. Meyer Druggist. We are firm and honest in our sta' e ment that nothing equids Brant’s Balsam for cure of all coughs, coldsthroat or lung trouble, as the many letters we have on file help to prove. A recent one from W, E. Rumpel, Columbia, Mich, says: “I caught a severe cold on my lungs last winter and tried several other remedies which did me no good, until my lungs got in a very bad shape’ 1 (opiates always hurts the lungs) “but two bottles of Brant’s Balsam cured me. I felt better before had used half a bottle. Get Brants of A. F. Long & Co. Morris English Worm Powe er A specific remedy for Worms; guar rank-d to cure the worst case of worms known, or money refunded. Knockpin worms in horses every time Equally good for all kinds of worms in horses, sheep and dogs Price 50 cts at Meyers drug store, < r po-t paid by mail. The Wells Medicine Co., La Faette Ind.

BARGAINS »n DRY GOODS The undersigned wishes again to call the attention of the public to his superb line I~X DT7 ur re£S Goods of are of the very latest designs, and are very pretty and elegant in quality and appearance. Our Spring Goods Sto Arrive, And are Very Desirable and CHEAP. If you are wanting anything in this line, do not fail to see our goods. We take great pleasure in showing them. ... . Muslins, Shirting, Table-linen, Prints, Ginghams, everything at reduced prices, our Line of -=== BOYS’ AND CHILDREN’S SUITS, Not to be Beat in Town, and prices the lowest. Come and examine them, and be convinced. We will have.... ' ■ Men’s Ready Made Suits in a few days, which line will be of the best selections of goods, made in the latest styles, and bought lower than such goods were ever bought before, will sell cheap. Underwear Selling very low to close out. Sweaters At the Lowest Price. Hats and Caps At Prices that win Aston-

We are the le tiers e Gave a number of makes of low prices on ** Vx LwO of Ladies’ shoes that are superb in style and finish and at very low pricss. Men’s, Boys, Misses’ and childrens’ shoes, at low figures. Chenile stand and table covers from 75c up, great bargains. Felt boots, rubber boots, sandals, and buckle arctics, all at the lowest price. In short you Can buy more goods of us now, for less money than you ever could buy for the same money in your life. Don’t hesitate to come and see us. We are glad to have you come whether you buy or not, it is a pleasure to us to wait on you. C. D. NOWELS, Cheap Cash Store.

BUY YOUR STOVES 0F... N. WARNER &SONS: The Oldest and the " FOREMOST - - Hardware, Staves, Tinware, Farm * m Pl emen * Men in Jasper Coun111 T bey Handle a line of In Hard ard Soft Coal Base and Surface Burners. THE VICTOR, B -=‘ HE Al ER, the best and most economical woed heater made. Thirty-two Sold This Season. Early Bird Cook • •• The very best all abound kitchen stove ever sold in the county Fine Farm Wagpns. ALL KINDS OF SHELF and BUILDERS HARDWARE.