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title: 'The times and democrat. (Orangeburg, S.C.) 1881-current, July 04, 1911, Page PAGE THREE, Image 3',
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A SAVE OF WEALTH
HON. I. W. BOWMAN MADE IN
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
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
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
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
'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.
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
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.
Enrollment Over 700?Valne of
Property Over a Million and a
Quarter?Ninety Teachers and Of
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?
Students who are financially able,
pay $40.00 tuition additional.
SCHOLARSHIP AND EN
The College maintains 124 agri
cultural Scholarships, and 43 Textile
Scholarships, worth each $100.00 and
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
Lumber and Shingles
Lumber and Framing AH Sizes.
Ceiling, Floors, and Weather
boards. Ready for delivery on the
75,000 Black Cyprus hand drawn
shingles now on the yard iready
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,
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'
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
It gives you confidence in your
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
It enables you to pass over per
iods of sickness without embarrass
It makes you able to run your
business, instead of your business
It teaches economy, which is the
first round in the ladder to success
and prosperity. Your business wel
The People's Bank
ELLOREE, S. C.
That a Drug Store
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
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
Dr. J. H. E. Milboose,
John H. Schacte
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
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.
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.
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
It offers complete 4-Year
courses in Ancient and Modern
Languages, Mathematics, His
tory, Economics, Science, and
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
Expenses reasonable. Terms
and catalogue on application.
CHARLESTON, S. C.
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]
MONEY \IN A BANK
(50 YOU WILL s?
<ABLE TO PAY' YOUR,
^BILLS A NT) MAKE
^PU'RCHASES BY A
\y 0 U A C'o 0 T>
ecisto savings bank
total resources 1525 750j6.
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
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.