Historical Newspapers of South Carolina

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A SAVE OF WEALTH HON. I. W. BOWMAN MADE IN TERESTING ADDRESS. On the Benefits of the Building and Loan Association Before the State Convention at Chester. At the recent meeting in Chester of the State Building and Loan Leag ue Hon. I. W. Bowman, who was a delegate from Orangeburg, delivered a strong address, which we pub lish below. He took as his subject, "'The Building and Loan Association a Conservation of Wealth and a Pro moter of Patriotism." The follow ing is the address in full: "Systematic saving and saie in vestment are the foundation and sal vation of the Building and Loan Asso ciation. Co-operation is its strength and life. What perhaps, no one member could accomplish, acting sep arately and independently, every member may achieve with the joint and concentrated efforts of all the other members. Individually each member may be weak but collectively the members become a strong asso ciation. The motto of every success ful association is impliedly at least. "We will work together." In union there is strength. United we stand, divided we fall. Each member should be imbued with the dterml nation to "Look up and not down, look forward and not back, look out and not in and lend a hand." Despise not the day of small things. Take care of the cents, and the dol lars will take care of themselves. It is much better and wiser to show a man how to make a dollar than to give one to him. And to show him how and to help him save it is the same as helping him to make it. The great consideration is to aid your fel low man and at the same time to enable him to maintain and preserve his self respect. "Abject and helpless poverty Is exceedingly unfavorable to the de velopment of manhood." The object of the Building anl Loan Association is to provide homes for the people. To make our people comfortable and satisfied. To pro vide comfort for the many and not luxury for the few. To make men. For "111 fares the land to hastening ills a prey, W'here wealth accumu uates and men decay." To illustrate the workings of the j association; there may be in a town,) one hundred persons, each able to save or put aside ten dollars per month, and yet no one of them may own his home, nor be able to raise sufficient money with which to pur chase a home place. There, in all probability, will be no place where each can profitably and safely invest this small amount. And it is more than likely that the one thousand dollars owned by the one hundred peopte will be used in payment of rent, or expended for some temporary luxury or in some other way dissi pated so that by the time another month come around there is very lit tle if any of that one thousand dollars in the hands of those who earned it. Now if those one hundred persons get together and form a Building and Loan Association, each paying in to the association his $10 per month (thus pooling the resources) at the end of the first month there is in hand for investment the snug sum of one thousand dollars. The money by rules of the association can be loaned only to member of the asso ciation and loaned to such members only upon security as would be ac cepted for loans by any safe and conservative bank. Any member pos sessing the seourlty may borrow it. The money thus borrowed, is expend ed in the construction or the securing' of a home for a deserving family. The borrower continues to pay into the treasury, his ten dollars per month, which is credited as a pay ment on his bond and mortgage for the money borrowed and he also pays each month, one-twelfth of the annual interest on the amount bor rowed. So it Is seen that at the end of a month, he has lessened his debt by ten dollars and has paid 1-12th of a year's interest; and each and every month he makes the same pay ment and each and every month the security is strengthened to some ex tent. At the end of the first month, th? association bas for loan, another $1,000 plus interest on first one and loaned. This is put out on | same conditions. And this process is continued till the a3soication (or that series of stock) winds up. By this means of lending money the in terest compounds monthly. While that amounts to little during the first two or three years, yet after that it amounts up rapidly and amounts to a great deal. The crowning glory of the Building and Loan Association is its record as a Savings Institution; It enables its members bo save; they learn to love to save; they see It pays them to save; they acquire the habit to save. There is no means jet devised by man to save, superior to the plan small part of one's w^es1 or income of putting aside evvry month a small part of one's wages or in come. And when thai income heart interest from date, and that interest is compounded monthly the profit will be material in course of six or seven years. Then, too, the borowing mem tar gets his money at apparently a very low rate of interest. He repays his loan in such easy instalments and it is repaid in such a short time that to him it seems as if he only paid in terest at about 4.60 per cent, even though the rate be eight per cent as he goes. To illustrate: Say he borrows six hundred dollars and the association charges eight per cent interest. Then his monthly Installment would be Bix dollars on the shares and one-twelfth ?of a year's interest on six hundred dollars would be four dollars, mak ing the monthly paymem of ten dol lars. Experience teach-:s that, it will at that rate take s'.x and one-half years for the stock to roach the value of one hundred dollars per share. In that time the borrowing member will have paid in seven hundred and eighty dollars. He has paid for in terest on his six hundved dollars for one hundred and eighty dollars or the six and one?half years, the sum of twenty-seven and 70-100 dollars per year on six hundred dollars which makes four doliars and sixty one cents per year on one hundred dollars. Of course there is a fallacy in this, but this is all the burden that he fetels. A few illustrations: A young man, an assistant bookkeeper in a large store in Orangeburg, and drawing a good salary took twenty shares In a Bunilding and Loan Association, which ran till its shares should be worth two hundred dollars each. He kept up his payments for about six years. For some reason, he got out of work. He was not at a loss for a moment for something to do. He went over to the Building and Loan Association, he borrowed three thou sand dollars on his stock, and opened ?a clothing store and began business. Today he Is a successful merchant In a thriving city. A young shoemaker, supporting^ himself and family by his trade, and living in a rented house, met a friend of his, an officer of the Building and Loan Association. His friend ex plained to him the working of the as sociation, advised him to take some stock and helped him to purchase a small lot. Some years have passed and that shoemaker kept up his in stallments through all those years, and today he with a happy family lives in his own goo\i comfortable home and it is paid for. A washerwoman lived in a rent ed house and paid seven dollars per mohth rent. She owneS a vacant lot worth about two hundred dollars which had been given her by a lady who formerly employed her. She went to an attorney to negotiate a loan with which to erect a house on her lot. He being an officer of the Building and Loan Awociation, ad vised her to purchase some shares. She did. She bought four shares and borrowed four h ndred dollars and put her up a nico little home. Her monthly installments were six dollars and seventy-fl^e cents, less than the amount she had been paying for rent. In six and one-half years her home was paid for. These are just three illustrations taken at ran dom. Many more simi' .r ones could be given. 'Many of the best business men of this State invest heavily in Building and Loan stock. I know some who carry fifty, sixty, seventy, one hun dred and fifty and as much as two hundred and fifty shares. The action of these business men is a strong ar gument in favor of it as a business proposition. Now some men will say what has the Building and Loan Association to do with patriotism? Think for a moment, is not the man who owns his home the advocate of honest government and low taxes? ! The Best of All Economy is the I Economy of Secnring the Best. ? It is not economy to take your child to a cheap and I inefficient teacher when an experienced and well trained ? one may be secured for a slightly greater fee. If you must I have a cheap teacher, it would be better to reserve the cheap ? teacher for some later period, as the most important period ? of all is when your child is commencing the study of ? Music. A poor teacher has wrecked many a promising ? career. The best of all economy is the economy of securing ? the best. If you put up with cheap things at the start, ? you will find that you will go through all your musical ? life, seeking for bargains.?bargains that are far more ? expensive than you have any means of determining. Music i tuition in the North and West is far in excess ci that in ? the South. In the South, it runs from six to ten dollars ? per month for first class instruction. ? Prof. T. L. Tinslcy and Mrs. Delia Gilbert, who will ? have charge of the Departments of Piano and Voice, re ? spcctively. in Orangebnrg College during the coming year, ? have both studied with some of the very best American as ? well as European trained teachers, and have had wide ex ? perience in their profession. Students from the city and I surrounding country solicited. Students from the city taken ; in the afternoons from three to five. Rates $5 per calen | dar month. Session opens September 20th. Send applica l tions to President W. S. Peterson, Orangeburg, S. C. Is he net on the alert to see that the finances of the government are eco nomically administered? No one can ever hear of a man who would take up a gun in the defense of a board ing house. But where is the man who would not riBk his life in de fense of his home? The Building and Loan Association aids the man of small means in getting a home. It helpB him to so manage that the big corporations and the land shares shall not possess everything. It takes up the man of modest means and teaches him how to live under his own vine and under his own fig tree. It is said that the amount of money invested in Building and Loan Asso ciations in the United States is great er than the capital stock of all the national banks. This shows that our people are alive to the advantages offered by this wonderful agency of prosperity and patriotism. EXCURSION RATES. Southern Railway Announces Special Low Fares to Points. Meridian, Miss.?Account Sunday School Congress of the National Bap tist Convention, colored. Tickets on sale June 5th and 6th, Aral limit June 14th, 1911. Philadelphia, Pa.?Account North ern Baptist Convention and Baptist World Alliance Congress. Tickets on sale June 9, lOlh, 12th, 16th. Extension of final limit may be had by depositing tickets and payments of fee of $1.00, until Sept. 31st. Black Mountain ,N. C.?Account Southern Students Conference, Y. M. C. A. Tickets on sale June 15th and 16th, final limit June 28th, 1911. Charlottsville, Va.?Account Uni versity of Virginia Summer School. Tickets on sale June 17th, 19th, 23rd, 24th, 26th, and July 3rd and 10th limited fifteen days, unless ex tended at Charlottesville, until Sep tember 30. 1911. Knoxville, Tenn.?Account Sum mer School of the South. Tickets on sole June 18th, 19th, 20th, 24th, 25th, July 1st, 8th, 9th and 15th, 1911. limited fifteen days unless ex tended at Knoxville until September 30th, 1911. For information as to rates, etc., apply to ticket agents or address: J. L. Meek, Asst. Genl. Passenger Agent, Atlanta, Ga., or W. E. Mc Gee, Division Passenger Agent, Char leston, S. C. THE CLEMSON AGRICULTUR AL COLLEGE. Enrollment Over 700?Valne of Property Over a Million and a Quarter?Ninety Teachers and Of ficers. Seven full four years courses, In Agriculture, Engineering, eu. Cost per session of nine months, including all fees, board, heat, light, laundry and necessary uniforms? $121.87. Students who are financially able, pay $40.00 tuition additional. SCHOLARSHIP AND EN TRANCE EXAMINATIONS. The College maintains 124 agri cultural Scholarships, and 43 Textile Scholarships, worth each $100.00 and free tutltion. i (Students who have attended Clemson College or any other College or University, are not eligible for the Bcholarships unless there are no oth er eligible applicants.) Scholarship and entrance examina tions will be held at the. County Seats July 14th, 9 am. 1 Next Session Opens SrPT. 13, 1911. Write at ONCE to W. M. Riggs, President Clemson College, S. C, for catalogue, scholarship blanks etc. If you delay, you may be crowded out. Lumber and Shingles Lumber and Framing AH Sizes. Ceiling, Floors, and Weather boards. Ready for delivery on the moment. 75,000 Black Cyprus hand drawn shingles now on the yard iready for delivery. E. N. Scoville, 44 W. Russell St., ..'Phone 18. Notice of Guardian. Notice is hereby given that on Mon day the seventeeth day of July, A. D. 1911. I will file with the Probate Judge, in and for the County of Or angeburg, my final accounts as Guar dian of Frank M. Culler, Cecil R. Culler, May M. MdMichael, nee Cul ler, and Georgia C. Culler, the young er, and will thereupon immediately apply to the said Probate Court for my final discharge as such Guardian. Georgia C. Culler, Guardian. June 15th, 1911. 4t. He Left Politics For Love. Ambition did not satisfy nor did a guilty conscience make a pleasant companion for solitude. But the love of a woman could do both, so the hero of "Contston" bepan to try to be worthy of her. Winston Churchill's novel is a great moral lesson, whole some and true. Formerly published at SI.5 0; now fifty cents Sims' ttook Store. The Spirit of '76. Francis Lynde has shown us a most compelling hero in "The Mas ter of Appleby," a story of Colonial times, and has plucked from those warring days bits of adventure that are both brilliant and thrilling. Sell ing at fifty cents at Sims Book Store. Whal a Bant Account Does at Tbe People's Bank It helps your credit. It stimulates your courage. It guards you against extrava gance. It gives you confidence in your judgment. It helps you hold up while you are out of work. It furnishes the best receipt for all money you pay out. It creates business habits that will increase your savings. It protects against loss by rob bery and personal injury by rob bers. It enables you to pass over per iods of sickness without embarrass ment. It makes you able to run your business, instead of your business running you. It teaches economy, which is the first round in the ladder to success and prosperity. Your business wel come, The People's Bank ELLOREE, S. C. "Everything That a Drug Store Should Have" This Is the compliment' that one of our patrons paid us. It Is so true of the real method behind our bus iness that we are quoting It. Primarily this business makes the prescription department the main object of its care. Experts check every prescription and, our large files show that our care is not in vain. Every new and worthy drug is immediately bought and placed on our shelves so that we need never say "we are just out of It,' but we say, "We have it now." Then these departments are al ways busy because of one final fact: "Good Goods for Your Money"?flnt and last. Paints and Varnishes. Cut Glass and Cutlery. Cigars and Tobacco. Stationery and Supplies. Huyler's Candles: only agency. J. G. Wannamaker H'f g Co ?Orangeburg, S. C. Detroit Kerosine Engine. STARTS WITHOUT CRANKING. Rons on common Kerosine OIL To all prospective purchasers of Gasoline Engines: I have the exclusive agency fov the Detroit Kerosine Engine, and offer you: an'engine complete, ready to run when 3'ou receive it; entire freedom from ad justments and complications; a reliable engine that starts without cranking, reverses and runs equally well in either direction, an engine which is cold weather proof; an engine which runs on common Kero i m sine Oil (lamp oil) better than ordinary engines run on gaso line. Absolutely steady power; absolute reliability. Full con trol over engine speed while engine is running, entire ab sence of gears, sprockets or i cams. The only engine that women and children can safe ly run. Just the thing to run anything from a sewing ma chine to a ginnery up to 60 horse power. Write me your wants. Dr. J. H. E. Milboose, John H. Schacte Dealer in Groceries of All Kinds Fruits and Vegeta bles in Season. GIVE HIM A CALL Russell St. ? - Orangeburg. S. C Are Your Hose Insured? A new shipment of the celebrat ed "Holeproof Hosiery." Guar anteed for six months. Are ready for your inspection. Holeproof Silk Stockings. Holeproof Silk Sox. These are guaranteed for three months. If a hole appears in that time you get a new pair. Holeproof Lisle and Cotton Stockings. H^'eproof Lisle and Cotton Sox. Are guaranteed for six months. Sold only by E. N. Scoville, 44 W. Russell St, 'Phone 18. 232''and 234 King, and 203 Meeting Streets, Charleston, S. C. The Arcade Department Store. The Largest Wholesale and Retail Mail Order House in the South. ^PFPI AI are members of the Charleston Ol EiVl/il/"" "Refund Association, and will pay your Railroad fare to Charleston if you shop here. In addition we guarantee you better values and! greater varieties to choose from than you will find outside of the Great Market Centres. CLOSING OUT SUMMER STOCKS We are overstocked with Spring and Summer Merchandise of every kind: Tailor-Made Suits, Silk and Lingerie Dresses, Children's Dresses, Ladies , Waists, Walking Skirts, Dry Goods and Notions, Floor Coverings, Lace Curtains, Shoes, Millinery, Gents Furnishings, Etc. Tto Ml Be 1 TO ACCOMPLISH THIS WE HAVE PLACED THE ENTIRE STOCK ON SALE From a Quarter to a Half Less Than Original Price, Pay us a visit. Write for Samples or send us an open order. We will attend to it as carefully as if you were here in person. 1785 1911 College of Charleston 127th Year Begins Sept. 29. - Entrance examinations at all the county-seats on Friday, July 7. at. 9 a. m. The College is well endow ed, enabling it to maintain the highest standards. It offers complete 4-Year courses in Ancient and Modern Languages, Mathematics, His tory, Economics, Science, and Engineering. Courses for B. A., B. S., and B. S. degree with Engineering. A free tuition scholarship to each county of South Carolina. Vacant Boyce scholarships, giv ing $100 a year and free tuition, open to competitive examination in Septenber. Expenses reasonable. Terms and catalogue on application. Write Harrison Randolph, President. CHARLESTON, S. C. To Celebrate the Fourth coolly, comfortably and still be smanly dressed, you should be wearing a suit of short length underwear, one of our straw hats and a negillee shirt from jur stocks. We have the underwear, the shirts 50c to $1.50, the neckwear 25c to 50c, the hose, 25c to $ 1.00, needed to make you cool, well dressed and comfortable. Have us show you our stocks. Renneker & Riggs wheue rou can] We iTt/tpuT^youR MONEY \IN A BANK (50 YOU WILL s? <ABLE TO PAY' YOUR, ^BILLS A NT) MAKE ^PU'RCHASES BY A [check iT*?irES \y 0 U A C'o 0 T> (fiREDlT"!RATlNG[ I tot ecisto savings bank total resources 1525 750j6. a.iHJieESiiAiaflii savings' Record of the Oldest Policy. The Oldest Policy new cn the books of The Mutual Benefit Life In surance Co., No 795, was issued on January 21, 1846, lo Joseph L. Winslow (at age 15,) of Portland, Maine, on the Ordinary Life plan, for $3,500, at an annual premium of $34.60. All dividends have been usep to reduce the yearly cost Premiums for 66 years have amounted to . . . $3,603.60 Mr. Winslow has received dividends amounting to $2,236.16 Making net outlay for 66 years .... only $1,367.44 This is, the average ) early cost per thousand has been only $5.92. The cost in 1911 is on ly $1.37. or $.39 per $1000. The Company would now loan on the policy $3,041.57, although the policy as originally written contained no loan or non-forfeiture fea tures. By the payrrent this year of the small sum cf $1.37 the cash and loan values were increased $45 19. This is indeed a great record, and one of which no other company can boast. If you are thinking of giving to your wife and children the protection that they need it would be well for you to look into the pol icy contracts of the Old Mutual Benefit Life Insurance Company. L G. SOUTHARD DISTRICT MANAGER, ORANGEBURG, S. C. The Best Buggy on Earth. is what we claim ours is. We don't care .what you pay you cannot get a handsomer, easier riding, better bnilt carriage.. Take a look at it.. The more you know about buggies and thoir values, the more you will ad mire ours and the more you will ap preciate the moderation of our prices. We have just recieved a car load of Buggies.. Al^o another lot of Batter ies. . Call and get your supply before ihey are gone. L. E. RILEY.