Newspapers / The Courier (Asheboro, N.C.) / May 25, 1905, edition 1 / Page 1
Part of The Courier (Asheboro, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
HEBORO COURIE J Ve COURIER Leads itVBoth News and ! Circulation. T5he COURIER I Advertising Column ! Bring Results. Issued Weekly. PRINCIPLES, NOT MEN. $1.00 Per Year, No 21 VOL. XXX. ASHEBORO, N. C. THURSDAY, MAY 25th, 190?. TH E AS i DeWITT'S WITCH HAZEL. SALVE, THE ORIGINAL A Well Known Cure for Piles. Cures obstinste lores, chapped hands, eo cema, skin diseases. Makes burns and scalds painless. We could not Improve the quality II paid double the price. The best salve that experience can produce or that money can buy. Cures Piles Permanently DeWltt's is the original and only pure and genuine Witch Hazel Salve made. Look (or the name DsWITT on every box. All othen are counterfeit. n,nug m B. 0. DcWITT CO., CHICAdO. Ask for thu 1905 Kodol Almanac and 200 vear Calendar. Standard Drug Company, Asheboro Drug Company. Dr. S. A. HENLEY, Physician - and - Surgeon. ASHEBORO. N. C. OHUo over SjKHiit A HiMMing'a Btoro dlmi'lunl I'd. DR. F. A. HENLEY, ASHEBORO. N. C. Offices First Rooms Over the Bank of Randolph. A C McALISTER & CO. Asheboro, N. C. Fire, Life and Accident Insur ance. The b-st companies represented. Offices over the Hank of Randolph. DR. D. K. LOOKHART, DENTIST, Asheboro, N. C. 0VKR TDK BANK. Will be nut of ton n until Ml whlill linn- i II" ! Imili.l t of of Kamlulli. Moved ? 5 Having bought out the grocery business of Jos. Norman I have moved to the building formerly occupied by Morris & Scarboro NEXT DOOR TO HOLLADY POOL HARDWARE CO. on Depot street, where I will be glad to see all my old customers and new ones, two. W. W. JONES. S Bryant, President J. I.Cole, Cashier UAe Dakiik of R.andlemtvn, Randleman, N. C Capital $12,000. Surplus, $2,000. Accounts received on favorable terms. Interest paid on savings de posits. Directors: W K Hartsell, A N Bulla, S G Newlin, W T Bryant, C L Lindaav, N N Newlin, S Bryant, II 0 Barker and J 11 Cole. The Bank of Randolph, .A.ab.e'boro, IT. C Capital and Surplus, $36,000.00 Total Assets, over $150,000.00 With ample ameta, expert jm and rrnteftton, w wilirit the buKtnea. of lite hanking Hihlic and feel wife In Niytiis we are preimml and willing So extend to uur customer every faeill ly and ao- oomuioaauou rannainii wiw Muainc. DIRCCTOR-Si Hugh Prk. Sr., W J ArmAeld.W P Wood, P B Muni. : C Mi'AliKUT, E M Armfleld. OlOnt, w r KnMltur. Kb-ni MutTitt. Tho. 1 Keddtna. A W S Capel. A M Kaiikin, Tbos H Baddlnc, Dill Aibury, C J Cox. My Work Pleases! Wbea you wi.h an eaHy shave As good as barber ever gave. Just call OA me at my saloon, At moraing, eve or noon, 1 cut and dreaa the hair with grace, To suit tbe contour of the iace. My room is neat and towels clean, Scitwors sharp and razor, keen. And everything I tluuk you'll 6ml, To suit the faos and pleaae UieuiiiiU, And all my art and "kill can do, If you jut cH I'll do for yon. TOM CARTER. Next door to PoslofTke. . NOTES AND COMMENTS. A vote for better school building for Asheboro is vote for lifting a little higher tbe childhood of tbe community. By getting together and standing shoulder to shoulder, we cau make our school at Asheboro still better than it is. Tbe place for a cotton mill is where the cotton is grown. The time will come when the South will manufacture its own cotton. Bonds for good roads will give us good roads now, not after we are dead, aud our children will help us pay for these permanent roads which we build for them. It takes a long time to change public sentiineut but yon. can do much in a good cause by studying the good road question and advocat ing better roads to your neighbor. Yon can do a great service for the community by standing up for bet ter schools and advocate more money for better houses and to employ good teachers and keep them employed for a longer term. . A modem school building thut will accommodute the children of Asheboro will cost some money, it is true, but there is nothing that docs not cost money. There is nothing worth while in this world that does not cost in;inev and sacrifice. We may not all agree, but that is a privilege people have under this great fret government. We can think for ourselves, but there is an opportunity for us to get together on this schawl question in Asheboro. I take it for granted you are for tbe advancement of every good cause in the community, and especially are you in favor of that which would greatly bless the childhood of the community, then are you not in favor of better schools for Asheboro and everywhere else. Iu many couutries of Europe, notably so in England and France, the roads are as good as the paved streets in the cities. Much of the pleasure of country life iu these couutries is due to the excelleat roads. There are those who out of our caution, great prudence, say that we have undertaken too much, that we are going to try to carry too heavy a burden, that we are going to bank rupt business, by building such a costly school house, and by, if you please, paying too much money to the teachers. A new court house is needed, it is true, and needed badly, but there is nothing needed now so much as bet ter schools and better reads. We are getting better schools, but the campaign for good roads is not so encouraging. If you are interested, talk to your neighbor. No doubt, the readers of this are tired of hearing so much about good roads and bond issue for building permanent roads, but it is a liver question than some think. It will be here in a few years, not by our efforts alone, bnt by yours and al most everyone elses. You may not have thought at first it was best to have a graded school at Asheboro. Your teachers are here, the feast is ready to be spread, and there is but one thing left and that is to build a school building large enough to accommodate tbe children and while we are building build permene"t building large enough to serve the present genera tion at least. In providing for a school building large enough to accommodate the children of the community, let us erect a beautiful temple to 'child hood, which will stand as a beauti ful expression, of ,the faith of onr people, of their children, their ca pacities, their possibilities and their future. Let It be an expression of the love of our people for our child reo. And the stranger or visitor in our town will read in this building we erect for the education of our childhood our character and progress as a people. Surely there are none of ns who will hesitate to take a part in such an undertaking that will do so much good and reflect great i credit on our public spirit and enter prise. OUR RALEIGH LETTER. Gov. Glenn in Washington Reduction in Cotton Acreage The State Fair Banquet to Cameron Morrison. - Haleigh, N C, Muy 23. Governor Olefin is in Washington and will be the presiding officer at the meetings of the Industrial Congress, which begin to-day (Tuesday Jnd continues three days. The selection of North Carolina's chief magistrate to pre side over this important national gathering is an honor to this state, and when onr eloquent and able govern r delivers hie address, ou taking the chuir, all who hear or read his speech will be ready to testify that in selecting him the Industrial Congress made no mistake. Other prominent North Carolinians will attend the congress and figuie in the deliberations of the meetings. At the request of Senator Simmons District Com'r Harry West (formerly of the Washington Post with which he made a reputation ns one of the most cnpalde newspaper men of the U S) last week accepted tbe chair manship of the executive committee, and the success of the industrial congress now assured will be largely due to his excellent management. Circuit Judge PritchurdMiid Hist. Judge Purnell are this week sitting with Judge (ioff of West Va, Morris of Mil, ami Witddill, of va, constitu iug a circuit court of appeals, at Aalicyille. It has beeu ascertained that the cotton acreage in North Carolina is this year rcducd about 20 to '2n per cent and it is the opinion that comparing the condition ot tlie crop at this time aud the same time lost year, the production will be one third less. Last vear we grew three- qunrteis of a million bales, bo the number of ljules expected to be marketed from the crop of 11)1)5 will be about a half million. Editor Poe, of the Progressive Km mer, of Raleigh has recetved reports fiom "J7 vice- president of of the North Carolina Cotton Growers' Association, upon which he bases the 600,000 sales estimate for this year. Secretary Pogue, treasurer Dcnson and the executive committee of tie State Fair are planning to arrange a new feature for the fair tins year next October, viz, to hold on Wed nesday, Oct 18, a reunion of all the fraternal orders in the state. The hotel accommodations this year will be largely increased and improved and the - railroad rates probably lower than ever. Investigation and the verdict of the coroner's lury reveal the fact that the burning of tho Standard Oil Company's property here last Sat urday morning (involving a loss of $25,000 to $30,000) was preceded by the murder of the watchman and tbe rol'bing of the safe in the oltice. It appears to have been the worn ot desperate villians, and nearby resi- lences narrow ly escaped destruction. The banquet given by the people of Rockingham last week in honor of lion Cameron Morrison, who re moves his residence to Cha; lotte, was an elaborate affair and in the speeches made by leading citizens of Richmond county and the town of Rockingham the high esteem and regard in wntcn this brilliant son of Richmond is held by all was testified to and accentuated. In Charlotte Mr Mor rison will lind a wider field of use fulness for the exercise of his fine legal talent and magnificent oratorical gift, and a great future for him is predicted by his friends. JjLfcWAAM. Dsath el Judge Tourgee. Judm Albion W Toureec. United ShttM Consul at Bordeaux. France died at that place last Sunday. Judge Tourgee had been quite sick for some time and his acuta was not unexpected, lie lived ia Nort Caro lina many years ago and was for oue term a judge of the superior court. lie was the author ot a mini tier oi liiu- Imoka as sell as several histori cal novels which had a large sale. Later be published a magazine in Philadelphia vhich, from a financial standpoint, was not a success. Judge Tourgee was born in Williainslield. Ohio in 1838. He is survived by bis wife ana one cnna. Tor your Protection we place this laocl on every package of Scott's Emulxioti. The man with u Dull on lilx Imck Is our trnde-mark, and It Is a ania ntitee that Hcotts Eruul Klon will do fill that In claimed for it. Nothing better for lung, titroitt or bronchial trouble In l.ifnut or adult, Scott's Emiil pii U one of the jrnnteot fleeh l.ullder knowu to the medical world. Wt'll see e week scon bowk,"' Kri.v;"' NEWS ITEMS. Many Items that Are Sure to Interest You. Wilktslmrie, Pa., had a $300,000 tire Sunday last. The handsome residfiice of Col Walter R lltiny, of Charlotte, was burned the other day. The Union passenger station at Kansas City, Mo., was blown down and one man killed by high winds last biinduy. C N Evans, of Charlotte, was chosen as president of the Stale Bunkers Association at the annual meeting at Winstou-Sulem last week. Three students wore expelled from Trinity Park nigh School last week for disorderly conduct. The names have not been given to the puWIc Richard Lee, a negro of Sjn-njer, was killed between Salisbury and Spencer on Thursday of last week. Death wits caused from a runawav team frightened by tin automobile. Mr E L Hughes and Miss Kloise Brown, a music teacher at Ccdur Grove Academy, Orango county, were drown in hlland s mill pond itr Orange county last Satuiday. The hospital building being erected by the J O U American Mechanics at High 1 oi tit, says the Ledger, is Hearing completion. The bu'lding when complete with con tain 111 rooms. Richard Lee, colored, aged 40 years, was killed in a lunuwuy be tween fcalisbiiry and bpencer .May 18th. He wus driving a delivery wagon uni the mule became fright ened at an automobile, and ran awuv throwing the unfortunate man out of the wagon, his head getting caught between the spokes of a wheel breaking his neck. On last Mon. lav a colored bov, named Fred Knigiil, shot and killed an eagle on the farm of Mr J M Otifliii, one mile east of Pittsboro, that measured seven feet troin tip to tip of its wings. Ho saw it 1 1 y to a tree and slipped up Hear enough to shoot it with an ordinary Shot gun. Chatham Record. CUV GRUBB SHOT. Clarence Thompson Prominent Witness In The Celebrated Cast Wounded. The excitement which has pre vailed in this section over the kill ing of Obe Davis by his brother-in- law, 11 Uluy Urubu, in I'aviUsou county last October and the subse quent trial of urubu and his acquit tal last Saturday culminated lust Tuesday iu tho attempted assassina tion of Grubb and Clarence Thomp son, a prominent witness iu the case ueut bul libit ry by IN at Urtimp, a bud negro, and some other party un known. It appears that Grubb after having remained quietly at home after the trial started to Salisbury Tuesday accompanied by Thompson and when about two miles from home they were shot at from ambush and both men were seriously, but not fatally wounded. Both men went on to Salisbury where they had their wounds dresscu una later in tli" aay Grubb returned to his home in Davidson county. Grubb told in Salisbury that the assailants were not over 30 yards away and that he recognized Nut (J rump, as one ot them, it is saiu that the negro had th'eatened to kill Grubb before and thut this is not tho first trouble he has gotten iuta The last reports sav that both Grubb and Thompson are doing well aud thut a sheriff's posse, 125 strong, is scouring the woods for Lrump. The War On Cigarettes. Indiana is having a lively tiuia with its new anti-cigarette luw. At Princeton bonlires were made of all cigarette paper to be found in the town, stocks have been mimed at Frankfort also, and ut many other towns. Not a cigarette can be bad m Munice, where tbe last young man caught smoking oue was fined $35. Throughout the state scores of arrests have been made since the law went into effect. One solitary judge in Indianapolis holds that the law applies only to dealers and not to smokers. That point will be decid ed by the supreme court. in Wisconsin an equally urasiic law will soon go into effect. In Nebraska men who manufac ture or sell cigarettes or cigarettc oaners will be punishable with a flue of from $50 to $100. In other states laws forbidding the sale of cigarettes to minors have been passe! within this year. Michigan and Illinois, in both of which states cigarette prohibition bills are pending, are yet to be heard from. All this is the result of one sea son's anti-cigare'tecrusad. That the cigarette does great harm to minors everyone will admit. That all attempts to prevent its sale have heretofore been failures is equally true. Hence the leap is made to total prohibition. The right of the state to restrict the manufacture and sale of cigar ettes is not questioned. Whether tbe mere possession of cigarettes or cigarette papers for personal use can be restricted with the same severity is another question. The supreme court of Indiana has a new and vitally interesting ques tion to decide. Atlaata Journal. BUILDING AND LOAN. Essential Principles of Build ing and Loan Associetions. Hy O. A. T..i.ikins, of I..11I. .1 1.- 'rhe first requisite of u savings institution is that it must lie safe. Iu the discttsbioii of these co-opetalive associations an effort, will be made to exhibit on the one hand the condi tions which are necessary for safety, aud on the other hand those con dition which have contributed must to failures among so-called co-operative savings institutions, Thu development of the life in surance tmsmcss has leil to many schemes, hinted apparently on the sume general principles which govern life insurance, some of whi'.'h were mistakes, and many which were swindles. The beneficent features were ulw uvs out iu evidence, but the errors and cheats could not ulwuys be set 11 until it was to lute. Life insurance has survived in spite of multitudinous mistakes and s indies perpetrated in the name of life in surance. It has survived because there was enough gootl 111 it to save the general principles under which it somewhat equalizes human burden. The building and loan association has been tho victim of '.he same sort of vicissitudes. Many mistakes have been made, and many swindles have been perpetrated, but there are too many families living in their own homes, which hare been bought through the building and loan associations, ami which could not have beeu bought 111 other ways, to let the principle of the co-operative, institution bo tliiveu out. .Mis takes und swindle! will tend to lie eliminated, und thu system will )c coino still more extensively develop ed. No practical reason appears why American farmers should not adopt and apply the system, as well is American mechanics already do, and as well us Germau fanners al ready uo. Thu laws ot the various btales should classify and forbid what are Known to be errors in the methods of co-operative associations. Tlu-y should severely punish those who perpetrate or attempt to perpetrate swindles upon the people under the guise of operating a building ami loan association. Sometimes an a-so- iatiou is organized with the best intentions, but subs'-iiiienlly falls under incompetent or dishonest management. Therefore, it is im portant for the Mate to inspect ami regulate the management of build ing and loan association, just us it inspects and regulates the manage ment of banks und life insurance companies. Indeed, while the building und loan association is capable of bring ing to a people the most beneficent estills, the ubuse ol tin- name or oi the appearance of the principle gives the best possible opportunity for fraud by extortion and otherwise. 1 lie best torm ot association woultl seem to ii.volvo the following points: rirst. It should be local. Second. Its intervals of pavuicitt should be suited to the average usual manner of income of its mem bers. Third. Its rules as to prompt und regular payments should lie rigid, and should be rigidly enforced, Fourth, ltsshares should lielOO pur value, and the interest rate li pel cent. Fifth. Loans should be made in the order of application for them, aud should be made at the par value of $100 u share, without discount, bidding, premium or reduction ot anv kind. Close association is a sharp spur. People living in the country, where families are considerably separated, are rarely so careful about neatness those who live 111 to ens and cities. The in 11 ueiicc of doing t hiugs joi n tl v, too. is ulwuvs strong. Association with a number of other people, many of whom one knows and is likely lo meet at intervals 111 social life 01 iu business, rarely fails t stimulate the individual to his best endeavors to do his part in any or ganization as well us the average, or better. Club members usually regard club dues as a first debt to be pam. The moral inlluence 01 local ami social association has its effect upon the officers of an organization, as w ell on the members. Where-the mem bet s have easy access to the oflic rs, aud most them in daily life, the opportunity and the desire to do w rong are minimized. Here again is seen the effect of aggregated in llueuces. The olliccrs are encourag ed and constrained to do right by the elbow touch of the entire mem bership. The co-operative savings institu tion, to be successful, must be of a kind that aggregates the strength and influence of its members, and it must aUo be so situated that this aggregate influence is always upon its officers, thus constraining in them the greatest circumspection, and constraining each member to the highest degree of effort to keep him self straight with bis associates. In local institutions the consciousness of oversight stimulates each member to keep his property in better shape, nay his dues and interest with un failing regularity, and be sober, in dustrious ana economical. The system may be varied in many ways as to payments, tines and other regulations, to suit different conditions; but thu aggregation feature, in some form or other, must always be preserved. The m-uning of this is that the great bulk of the members must know each other, or at least be near enough together to attead meetings in case of trouble, and that loans must be made only 011 property so situated that it may be readily visited by an examining committee, and may, if occasion re quires, be inspected and passed up on by the bulk of the members. This means that all the property taken for cecurity must be within j, limited local area, say a city or a tou nship, und that most of tbe mem bers must live within this area. The c Intruder of a member who borrows is an important element in the security of the loan. It, as well as the mortgaged property, ought to be uutler the observation .01 the members. These consiJeiations establish the first condition, namely, the success ful building and loan association must be local. Any limit is suitable within which people are likely from time to time to see something of each other. Ten miles is of little conse quence to a farmer, who has facil ities for the trip, and has the habit of traveling more .r less over the country, while for a machinist it would be both inconvenient and unusual to go into the country to inspect property. It would not be advisable for u association made up of woikers iu industrial pursuits in thu town or city to take farm prop erty lying at a distaace in the country. In such an association property accepted for secuiity must be in thu town or city and the im mediateenviroiis. If farmers should undertake this sort of savings and loan association the county lines would usually enclose a territory that would be "local" within the meaning intended. Membership need not be rigidly restricted to locality. Most of the members should, however, always come from the territory in which the securing property is to be taken. Indeed, tbe purpose of the association is that home people may save home money to buy houses to live in or to do business in,' or that tbey may lay by something against a rainy day, or to make old age comfortable, or to raise and educate a family of childien. Many so-called building aud loan associations have lieen formed on plans that were totally wanting in the essential leatures of co-operation. Iiese spurious institutions are made n of liieiuliers widelv scattered, few of whom ever see the officers. It stands to 1 eason that the very scat tered condition of the members of such an institutioii'prevents co-operation, und creates the very best opportunity for the officers to swindle thu stockholders. These institutions lire generally called autional or in terstate building und loan associa tions. Most of them have tailed. With possibly 11 few exceptions, they have somebody in some way connected with them who practices impositions on the members, lbe representative of these organizations, w hen discussing a subscription for stock, always shows how easy it is to withdraw; when later an application to withdraw is made, it is not found easy. In one case a stockholder in Texas made application to with draw from an Eastern association. lie hud paid in $3C0, and was en titled under the by-laws to withdraw this amount, together with some slight profit. In answer to his ap plication, be was uuvised by the secretary of the association that there was no money available for paving off withdrawing stock, and that there would be none available for nearly a year, or perhaps more than a year. 1 he secretary had a friend, however, who would buy his stock for $250. What is the Texas man to do, being liioii miles away.' Counting tbe cost of a lawsuit or a trip, he finds it cheaper, less trouble and more expeditious to accept the offer. The secretary is his owu friend. AS soon as the secretary received the stock he proceeds ut ones, according to the by-laws, to draw !f JtiO witn tne pro lit added. In many ways institutions which have stockholders much scattered are liable to full into bad habits. They may, iu perfect honesty, make loans at distant points through local boards on property of far less value than tho cash loaned. 1 bis error bus been extensively committed, to the disappointment and injury of the stockholders when the time came for final settlement. Mortgages which installments should have can celled in six or seven years have run eight or ten years, and even more. because of bad loaus on inadequate security or bad conduct iu the home office, or both. Notwithstanding these objections, it is not impossible that ander cer tain favorable conditions or influence Ayer's When the nerves are weak everything goes wrong. You are tired all the time, easily discouraged, nervous, and irritable. Your cheeks are Sarsaparilla pale and your blood is thin. Your doctor says you are threatened with a nervous breakdown. He orders this grand old family medicine. - Ff mr tli.i, (Mil I h.. twee krrr't ftrftK..r,ll. tn m, lumlly. It 1. .r.njl toete pure blowtr-n.C. Holt, WM H.vrn. Conm. ftSQ.tHitO.. .ruTMl-A, for. Weak Nerves Kms the bowels rewulA' with r Pills, Just on aiH act neti. MM Chorjcm Unmw the genuine Sun Cured Tobacco flavor by the taste and aroma of Sound (SuBesU and have made! it the largest seller by refusingiimitations advertised as sun cured Lmam th Gtnulne Sun Cured Flavor Cut out this advertisement and aead, together with sc. stamp, to R. J. Reynolds Tobacco Co.,Wiriston-8sIem, N.C.and tbey will mail froa Se sample of tblt tobacco. Write your nam and address plainly. there might bs devised an interstate 1 vi ..uviiu wvuiuvu nuiuu iuiiiu be made secure and desirabl Exact knowledge of the condition of a corporation by the stockholders and by those who may wish to be come investors, and "a method for calling the officers back to regulate operations (und-r the by-laws if necessary), are essential to fair deal ing, with the people. Up toa certain point 1 these things may best be secured by localizing. When this is impractioable, or not enough, some plan of legal regulation and restric tion is absolutely necessary. It long since came to pass thut the people demanded regulation and restriction of banks, and the publi cation of their statements in prescrib ed forms. Begulution and restriction of the insurance business has also been permanently established. Some degree of regulation and restriction of railroad management ana publica tion of rates has been obtained. A number of manufacturing interests have been more or less combined or consolidated, but so far no regulation, restriction or publicity of accounts of any value has been attempted with reference to them. Those interests where regulation, restriction and publicity of accounts are most complete have securities which are more atti active to the in vestor than those which work under coyer. Government bonds, publicly issued and publicly handled, bring the highest pricts und bear the least interest. Tbe stocks of national banks, next best and most publicly regulated, bring the next highest price with the next lowest interest. Insurance companies come next. Railroad come next. Stocks of in dustrial combinations, practically net regulated at all, come compar atively l"w. Ad industrial stock drawing 7 psr cent, preferred und cumulative dividend will bring, say, 90 per cent of par value; a railroad stock paying the same will bring 150, a national baok stock 200, and a government bend, if there were any such, would bring 250. There has been much criticism ot the tendency to find fault with com bined corporations or trusts. But it should be observed that the ob jection is not to the magnitade or the legitimate probts of a corporation. There has been consolidation of bank ing interests in New York aggrega ting enormous sums, yet no serious criticism has been made. There are some other complaints against tin- banking law; the system is not flexible, and does not sufficiently serve the interests of the whole peo ple; but the matter of size and pro fit creates no serious prejudice. J'hc knowledge of the condition of na tional banks, which is disseminated by the government, satisfies people about all questions relating to cap ital, issues of stock, conduct of business and other such matters. The only way to insure success, or a reasonable probability ef it, to a building and loan ascaziatioti operating on the national or inter state plan would be by government rettnetion and control, with exam ination and publication of accounts by good experts like the national bank examiners. With snch examination, publicity and control such organizations might be made not only safe, bnt advan tageous bath to the investing stock holders and to the borrowing stock holder. The prosperous locality, where money for investments is more or less plenty, could then furnish money to invest in less favored sec tions, reopie having valuable re source in less developed localities, by joining such an association, could borrow money at a lower rate than in any other way; tbe transaction would be profitable to themselves and to the investing members. In the absence of laws, or witn inefficient laws for control and regu lation, the interstate plan of associa tion had better be let alone. The time may come when, under control and regulation, it may become all right; bnt it is not yet. The next important condition for a successful association is that regu lar and prompt payment be secured. To this end the times of navment SI10U1U DC II SOU 10 COI TCSpOUO. WHU the usual pay-days ut the various works, stores and other institutions in the town or city. An association of farmers would naturally fix their installments to suit the marketing of their crops, having them come quickly on the heels of their prin cipal sales. Whatever thu appointed times of payment, strict observance of them should be rigidly required. One of the most wholesome and advantage ous influence of the land banks of Germany has been the education of the farmer to a knowledge of what prompt payment means. Most of us need just a little pres sure to make us do fairly by our selves iu the matter of husbanding the fruits of our labor. Working people ure usually rather liberal and and generous, and there is always n crowd ot human parasites that live on the labor of others. If the sav ings institution would succeed among workiugmeii, it must shape its rules so that they may and must pay in their money before these parasites cau get it. Once satisfy the mem ber thut the installments paid in are safe, and to his own account, and he is wilhug enough to pay iu his mon ey whenever he has if; but if hs must wait long, or even if he may wait long, Ins money is likely to go before he knows it, and in ways that are unaccountable even to himself. It is important, therefore, to make the installments suit pay-days, to fix a line to enforce payment, and to be strict in requiring that payments be prompt. It is not desirable to be so inflexible in the enforcement of rules us lo cause hardship; temporary fuiluro to pay on account of una void able accident's or sudden and temp orary sickness should bo judiciously overlooked occasionally. This should be done, however, only in special cases. The plan of bidding for loan, though not so disastrous us that of scattering the members, is very un desirable. By this plan the money is loaned by auction, ns it were. Whoever bids to accept a loan at the greatest discount gets it. Some times the bid is 5 per cent discount, or "premium," us it is called. Some times it is 10 per cert, and even higher. As much us 40 per cent has been know n to be bid. This is taking advuntage of tho needs of members iu a very unfair way. Where two men want money it would be much better to accommodate both with discount, and in the order of their application. Some associations have had a fixed discount or "premium." In Beth lehem, Pa, it fixed premium of 12 per cent way popular some years ago, but is now abandoned. By far the best way is to have applicants tor loans listed in order, and to assigu accumulated money in regular order und at par, according to the list. By knowing the rate of income of the association and the aggregate of applications ahead, any one applicant can be told with ap proximate accuracy when he caa get the money upplied for. Knowing this, be can easily make his arrange ments without being harassed, as n might ofteu be if bidding had to be done lo gel a loan. Granted a Furlough. A card from liev J no W Frank, a missionary to Japan, savs he has been granted a furlough and ex. pects to reach North Carolina early in June. The card was written at 83 Hinode Cho, Yokohama, Japan, April 27th and reached us May 16th. Mr Frank is a native of Davidson county. He says he is enjoying good health. His wife is now in North Carolina, being forced to return home some time ago on account of poor tr.H)v Mr Fmn1? aaya Tbe Dispatch has been a great 'pleasure and comfort to me in my separation from relieves and old friends." Davidson Iispatch. Mr Frank is a Methodist Protes tant preacher and is very well known in Asheboro.
The Courier (Asheboro, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
May 25, 1905, edition 1
1
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75