La Grande evening observer. (La Grande, Or.) 1904-1959, October 30, 1929, Image 9

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La Grande evening observer., October 30, 1929, Image 9

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Newspaper Page TextADVERTISEMENT Edited by JACOB DOBRIN VOLUME XVII V u 1 . H ' ' . - - ' I - ' 1 '.' ' SCHOOL SAVINGS IS GROWING ANNUALLY; TEACH REAL THRIFT Through Co-operation of Loan Associations All Possible for Schools son- -Millions Put A habit is something Unit wi do easily ami automatically, such hh talk! iik1 i rutin? op walking. Heading, writing and arithmetic ii ri , complex liahitH that we nc tiulrefj by gradual stages during our progress through school. Wi dow do all these thliius easily and i automatically and so consider them habits, ir ihiit't 1h to bo thoroughly effeejivc, we must ac- 1 1 j i i -it as u habit thai operates us nut ura My as our othi-r habits. Habits of all kinds up' moat easily ucipiircd d urine: cliildhood. $i)dreii ran lie taught good hab its almost as readily hh bad ones. and whichever they art- taught during the I in prcndoiinble years, are nit lo stay with them through life, Therefore, if we are to have t hrifty com mutinies. Hint en and , jmilons, we elm beat ; at tain "Hio f goal by (ruining children in I ho habit r thrift. No place. In my opinion Is a better place for the teaching of I hiiri than our public schools. Children go lo school for the def inite purpose of leurnlng and of acquiring 'good hablis. While at school, their minds are, more re ceptive than while- at . home or elsewhere. They will learn thrift from their teachers, just- its read ily as they will learn reading and wrillng. once (hey have neoilred the habit, most of them will prac tice II Ihrongh life, with great ad vantage lo themselves, their fam ilies and their communities. l-'ortunab'ly. educators In all parts of the I'nlled States have conic tn a realization of the fact that thrift the careful manage ment and use of money, time und materials Is of such vih.i Impor 1 a nre to tin- welfare and happi ness of the nation, that Uio train ing of young children in liabtl of lli riit Is a duty that pubhs schools Khoiih' not shirk. Of late years our schools have been railed upon lo U'l.l so many different kinds of t'Minlti'? to the eurrleul 7 inn, thai t hey are fast reaching the saturation point. In the face. Savings Fund With Attention, I'arcnis: This pertains to your baby, your girl, your boy How helpless, how entirely dc- j pendent. It's Daddy this or Mother that, I from morning till night and when llio toys are lying around and the; boy and girl are tucked in bed fast ; asleep, you und mother look at the ; sleeping bits of mortal and wonder what the world holds In stole for them. And so great events take place j from I line to time In the child's life bir thdays and parties, and ex aminations in schools, and promo- : lions, etc. They are all great events In the child's lite and you are In volved In tlieni as u principal fig- '. nre. It limy be difficult for you to visualize this little mite as 11 grown- 1 up. but time Hies uulckly and only ; ton soon will you iimr tlte wordy: "ItaiMy, do I gel lo no to col lewv?" Think what joy you will experi ence in being nble to say: "Yes, my eh (Id, I have made Jacob loIn hi, li 'Jrunde, Oregon I Hear Sir: Without subjecting me to a xelue of solicitations, and without ohlig.ilbni to me. phase fur nish me with information regard your NKST I'Mii liAXK und advise me the annual deposit necessary to mature a Thousand Hollar l'n duw nteiii I 'und. Age of child f years) (months) !'' 1 Your.; very tuly , Name ,. Address 1 ., Banks and Building and Over the Nation It Is" to Learn Great Les- ' Away Each Year. of this, it is Indeed encouraging to nole the -growing willingness oi. the part of teachers to .Include thr.f an u regular part of llielr educational program. Through ti.t co-operation of hanks and Huilding and Loan hh. social Ions all over Die nation, tt has become possible for schools to teach thrift In the only effective way through actual practice, rather than through abstract the ory and Hre memorising of thrift slogans. Most schools now observe weekly "bank day' or "school thrift day." at which time puhlls are encouraged to deposit some part of their earnings, or allow ances in savings accounts of their own. They are urged by their teachers to forego the frivolous cxpendllure of small sums for sweets- or .1linci'iiclis( in order lo accumulate enough to purchase Inter something a great deal morn worth while. It If felt thut in teaching thrift to children, it in vitally important lo emphasize saving for a defin ite purpose and even to encour age withdrawal of a part of the money for a sensible purchase, rather than to teach merely the hoarding of money. After all. thrift consists in spending money wisely rather tJian unwisely, for Important rather t han for unim portant things, for durable rat her than for transient things. It does not consist In hoarding. It con sists In spending money and spending freely, but in spending It for things which add to perman ent prosperity rather than for things which merely gratify use less appetites, whims, pride or vanity, and leave one no strong er physically, mentally, morally or economically. Although I he cost of carrying on school savings systems la out of all proportion 1o t be monetary return, banks and Hii lid i tig und Loan associations appreciate the opportunity to to- (Continued on Pago 4) added Feature of Insurance Offered by Building and Loan For Your Baby provision for your eolh-ge educa tion through in- endowment in the i Cuardlan Building and JvOun As-j sedation. t i And '20 years from now you will : celebrate another birthday, an -1 other happy event If you make It j so; if you luve looked ahead wis- i ly and with loving kindness mndei preparation for your child. Think ! wli.it Joy you would Have in mo-! Hiring an endowment fund lor your child on that birthday, -n years from now. 1 Think what it 'would mean for I the child's future; the completion 1 of an education; a start in busl-m-ss; a milestone on the road to success. i You re;i llatp that presents a nd toys received by "baby" are soon ' lost and forgotten, but an Kudow nient Kund grows more ;:nd more vahmble each ?eUr. YVe offer a Savings liiiid with the Added l-VutHre of Insurance. W'e will gh'dly give this rigure ami also furnish you information regaiding the Nest Kkk. Hank which, by the way, will bit our , Ha (Sntnite lEtmttttg (twmr BILL SAYS (HIM.) V. K. AtiMlW Sales Manager. Portland j .Success is a journey, not u des Mnatlon. ! Nothing In progression can rest j on its original plan. We might ins well think of rocking n grown jninn in tin cradle of an Infant. ' Kdtnund Hurke. ! "A young man cannot honestly ! make a success in any business unless he loves his work, any 'more than a married man can be J happy in bis home unless he loves ; Ills wife." lid ward Liuk. ! Your ship may i be coming In, Unit it never, hurts to row and meet It. ' " Teacher: "Isuae, givn me a sen lence containing the word r 'cav crt" Isaac: ",Kery morning IIih milkman leaves us a cavort of milk." Hald-headed man: "Yotl tay this Is a good hair tonic!" . Knrbcr: "Very fine; we have n customer who look the cork out of the bottle w.ith his teeth ami the next ' day he had a mous tache," Seen In a Itoston paper: "Heath was due to natural causes. Mrs. It lank had for some time been under a doctor's care." Kmployer: "Now that 1 have de cided to give you the Job, I must It'll you that early hours are the rule in this store." New "leek : rtTha1 's good. You can't close too early for me." ".I ones!" siid the schoolmaster sternly. "Von have been caught In tlie act of flairrant disobedience. Your example to others is most (Continued on Page 4) present to baby. JJon't delay, your baby deserves an education;' your baby deserves to benefl by your experience. It is easier to educate your child by starting to save for it now than to have to raiso several thousand dol lars at once. Why can't your baby be the doc tor, th lawyer, the senator, the Judge, the prouthnncnl man or wo man talked about In this great I 'n bed Slates the great, success ful farmer, the rancher, the. mer eha nt ? Isn't your baby deserving to bo placed in position, through educa tion, lo be. inflm nihil, prosperous n ml a slil ui ng example of a big American'.' Your baby has little chance, f uny. without an education and the only way to educate him or her in by h spccl.tl fund provided und kept up. YVe want Your ltnby lo havt n Ka vines Endowment In (M AItlHAN Ifl'IMJfNd AM I, (JAN ASSOCIATION. LA GRANDE, OREGON, WEDNESDAY, OCTOBER 30, 1929 An Income of $100 A The Result lU'celvIng $ HiO a month for a I ft Olio investment scorns impossi ble. Hut It does not lake -4 per cent to mako it only 0 per cent und a little patience. Just as a sporting proposition, u young man can bet himself t hut ho will not be obliged to do with out a new automobile simply be cause ho reachcM the "dead lino" of production at Gd. And llio sooner ho makes the bet, the less It. will cost. Today's young man can lake care of himself thumghou, his life If he wants to, Instead of 4ciug obtlged to live with relatives or friends after liii. This Ik proved by recent changes which have taken place- in American economic life. There are endless good oppor tunities to post your bet and buy a real Income with the money you pffBt. I'or example, there is the local building and I'wn association in your town. They buy, mortgages right along, and if you place your bets with them every month, you will own a little part In ull the mortgages which they own. And sincn they only deal directly with the home owners who are rospon Mibln for thr repayment' W the mortgages, they Know their, people and you are assured I hat your bet will be safe. A gentleman told me (he oilier day that he would liho to save, but did not know how. This friend has never earned over $175 a month, and most of the time very much le.s. Also he never saved mom than n montlt nl liny time and yet, since he has reached f! years of sue bis m' lags bring him an Income of $lo0 a monlli. It sound'-d like a laity lull'. Ho we drew up a table tn Hhow II was done Altogether he The Duty Of The Business Man Huslness is' business because II can't be anything else. The ideal business man is like a Judge. 1 Its company is an entity, apart from hltnseir. If he Is an honest busi ness man he will, in an emer gency, cut Ills own salary as ruth lessly as the wage of the hum bles! laborer. When he makes a mistake and offends a customer he will settle accounts with a check book and not will) an ex cuse. He will deal fairly and Justly with all, and always be guided by his reason and not by his feeiinirs. You will find him on the board of directors of one of t lie I (u i Id lug ami Loan ns:to clatlons. This kind of buMness succeeds because it deserves lo succeed, BANKER LAUDS . BUILDING, LOAN ASSOCIATION "The, growing popularity or tie ; I lii i Ming and Loan association is jlhe. greatest rainbow of promise j on the hori.on of an undeniably I extravagant period of Am "flea n I lire," says M r. John K. Owens, vice president of the Republic Na tional bank. I a lias, Texas, in a n address delivered bet ore 1 be Tex in Itankeis' convention in fialves ton. Mr. Owens expressed impatience w it f i the bank t hat has a vague distrust of Hie UntblttiK ami lmn association b cai'se it lias drav-n certain small deposits from Hie bank's savings uceo.iut, and point ed out the fact "'aat the Itiilldlng Mid Loan asMjeiatloii creates a ttror'perlty In w hl h Hie ha liking r nil i' ru lly pre-eminently pa 1 1 lei pat os. I 'rot Ira st l ng lh- a mort i.a t inn principle of debt pain;r with tie old principle of one large note. M r. ( (wi ns show f d that to com mence, immediately on the crea tion of a debt, to extinguish it by a certain sum II ; l-iii payne o! I hat be tfin.i to di .!. e principal and Interest at Hie same time in He- great triuinpt of t U lid' d credit. I '0ll rSely, t e OIO--IlOle tel results in a I end em y to pa y th'' bite rent and on t he ma tut liy or Hie debt . to ref itiam v to become Month Is of Savings of $5,000 only saved a little over $5000 but i it was the early start that did it.' If he bad waited before starting to save, his per cent income would have cost him more. Think of. $5000 in savings producing $100 a(: iiioiiiiii "Hut," he said, "1 made a bet with myself years ago that I would i not ask help from my friends after . I passed 0 ft. We have a building and loan association in our town that has earned and paid an aver age 6 per cent dividends for years. So 1 did a little figuring. 1 knew that $ I oo a month w ill slwayu keep a man alive. It eve leaves a few .extras now and then, after the har necessities art paid for. Not much for real rills, of course, but a lot better than nothing. "All rikMil $ioo a mouth la ? I uoo a year. This would mean that I must have $ JO.oimi invested In our Utile building and loan as sociation, as it is paying 6 per cent every year. That $20, mm seemed an impossible goal. And it woulu be Impossible for me to save that amount tpilckly. It would take $100 a month for moro than 11 years (13!) months) In our building ; and loan association, and 1 knew I .. couldn't save $100 .a month. ; Some 'men can do "it -easily, of ro.urse but my earnings, were too J tuna II. "So I knew that If. I were to get1 that amount It would tucHii saving j u.n i i if mi iiimi in ok iur riiiu- pounil Inlcrest to do the rest. Wait ing is the easiest thing 1 do. "That little problem in arith metic didn't take long. I experi mented with various figures $ii a month glvcH you $ 1 nan in about years; $10 a. month given you $l!MlfD, am) so oil. Well, if 1 saved $10 a month at LM, I'd have (Hto (Continued on Pngo 4) FRESHMAN SHOWS THRIFT GENIUS High School Boy Saves $500 During Year by Doing Odd Jobs. 'l wish I could sav as nitieh money Oils year as that seventh itrado boy." mi id one teacher lo an-' other. The boy Is (ieorge Cordon. . thrift chairman of Itoom.L'M. He 1 saved MMi last year ami. as he put ill. "bought clothes and tilings be- sides" and lie Ik just 12 y his of The boy m I h; sou of 'Albert Oor- i don. !'l!i South Matthews street, Los Angeles, California, lb' is a I rirsl-yar student in Hollenbeck I Junior High School and ranks first. I In school thrift activities In an t u- , roll mi-ut nijmbei fng more than i I'tiiui Kimcn! i Mailed Digging Weed-, , (Jeorgn t n rncd Ills first money : three years ago diKginc weeds. Th - Ifolloulnj; yoar ho look a paper route. l,nd year he added a maga J stltie agency, with mowing lawn", I hunting weeds and running chores I as sidelines, (leorge never lows an I oppori unity to earn money, and II oppoft unity doesn't come seeking him he is apt to go seeking it. I's n;i lly he doesn't have to no fa r. lieeenlly lit! met King his garbage walk. neighbor tug- can to Hie wide ly good for your ." lie called. "That's not tii-rt soil. Mr. A -"You're right II isn't, and. what's more, j hate t h and foiet It half the time." The result of tills encounter was a conliact Jor Hie removal and re liirn of Ihe ran nicely papered (ujeii a week- and 'borge was richer by lia ents each trip. rnis Tre,. 1'arlner-Jilp Just before Christmas (icorgf ),-. jran to speculate. A tot el children n et c e. peel ing Ch ril mas t r''eii. Where were they mmliiK from'.' "Well," said a grown-up man. w ho was moved to do a lll'le specu lating ai.oill tba' (hue also. ' up iow Vou and I go into pa'luersMp and s II 'cm." ' tin at!" The pailueiflilp wan (oiined oo a jin-'iO basl-s A slatid was rallied at Klxtli street and lUjyle avenue New Stockholder - - j 4m 1r. A. I... Hlcbanlson of .u Grande, former president of 1 he La Cirnndn Building and Loan as sociation has been added to the list of stockholders in the (luard lan liulldlug and Loan association and in the ATortgage Investment Co. , Thfi Hiiiti-dliiu fetds that UK Itichardson's action in purchasing this stock will adil confidence and stability to the local branch as h ft Is a staunch believer hi building and loan. The HuHtdlau welcomes Or. Itiehardson Into their associa tion and trusts that his many friends will bo guided by his ac tion. "l-or Ihe past thirty years 1 have mil been without slock In noma building and bain associa tion and regard H as a safe and sum' Investment. I have matur ed many of these stocks in the past nil years and at ihe present time I am a consistent Investor in stocks, hot h for myseir and the Grande Uonde honpitnl." Dr. Itiehardson said when interview ed. "This type of Invest tneill In duces people to form the huhtt of Ihrlfi. accumulate sav inns, and encourage Imnio building," he con tinued. "I'copln should begin their invest m cut In hul hi Ing and ton u stock with the Intention and de termination of carrying It to ma in rity." "It Is w Ith reguln r saving or some amount mich month kept up over a period of years that fin ally operates lo the great, henelli of Ihe investor," Hit doctor eon eluded. Dr. A. !,. Illchanlson received his ediH a I Ion In eastern col leges and universities, at Chicago and St. Louts. He came to lit gon, loca Hug in La Ora tide in 1 Mi 1 , and since then has practiced here rout I mi -ously, will) the exception of lime spent In post graduate work In the east. He fs ii member of the Lastrrn Oregon District Medical society, the Oregon Slate Medical society, and Hie American Medical asso ciation. Ho in the director head of Hie Oram! Uonde hospital of 1 La Grande wtiiclt has a capacity of 7a beds. Properly Question As Applied lo You The ojfHtion Of poerty alir:. a community intercsin every goo'l man and cilieii; led when pov erty Is allied w ith old age it is In il special degree pitllul. It Ik a painful thintt iur u mao with a family nf healthy childc n., Wi II btOIIMllt lli, to hllVe the coll seloMHU"HK of b' llig a, burden on 'htldt'en who may Have ut -ady entered on tin Mann- r'H'inn1 Muli l I'-m and pi it a' loin he hud hi in Sei( gone )H0C! With Olll Ule pta'tje,. of saving r.g'lta rl'. It Is rlOllbi 1 111 If t ie Hepar.lt )ot oT till agej lOUph ill l-al lliote t. Int.', or een a h l"yitig. s Hie coin pul.iory separation on entering Hie poor llOle. t 1 pljt't 111'' .j ll-'' 'l eouide und' r e Hh Udhp- unlike Iill thing lliey had i xereueed be. lnp and nil that amid h range a ml nueongeiilii I u-soctales. Ah a matter of equity to every one In the com in unity, a weekly savings program should bo a ncc viwlly udvoeuUU by luw. BUILDING AND LOAN ASSOCIATION PLAYS AN IMPORTANT PART Nature of Organization Is Explained Building and Loan Companies Permits Man to Take Uncer tainty Out of His Investment for the Future; Community Ideals Served. lly tlucoli Jacob. Doltrht . -U Is sometimes' said that the average American is inure or lesa thrtrtlcsK. and expects that Ills for tune will he made through a lucky chance. If this were true, there would be even n wider gain Alien nttw oxIhIh helweun Ihow with fortunes and Hiose without.' Hut llko malty other - half truths, It overlooks a most Important part of our ecouomlo life. It Is merely Idle to talk shout undue oxtnttii with thn facts about our peopte'a savings. HUlo by sldo with our largo expenditures for luxuries and pleasure, wo find a host of ex--pondltures for capital goods that contribute to the progress of our time. And most of our capital Is saved in comparatively small huiiih in lust It tit Ions designed primarily to promote thrift and to accumu late a cash reserve. rerhaps it may be said that we depend too largely upon chance for th larger rewards of life. Hut for thn smaller things that make for a successful, progresr.lvo commun ity, we do not lake so many chances fi'i popular opinion would have us Jielieve. During thn time I hat. young men and women it re watching for Ihe great opportunity thai will mean a competence for them, hundreds and thousands of them are putting aside small sums each pav day toward thai Unknown rainy day which Is sure to bo ahead. They may be looking to ward ttie chance of big gains, sud denly achieved, but they have not forgotten ihe smaller things, as so many demagogies would hnvp UH believe. If they had, Insurance companies would be out of busi ness. Investment companies would close their doors, ami Ihe general bitsineiis life of our country would lag. All t Itese concerns help In furnish the capital with which which business Isgarrled on. and they get It priii$pa lly in small a mou ti Is from Individ ua I custom ers, who have a limited store of saving;-. Among the investment coin pa tiles, the 'oi I id 1 ng and loa a as N.icljitfnii bas taken an iliconspicii old bill lievert heless ItiipOrl a'ut part. There is one of them fur every !i,M I or the j pie .,f the I ' n It ed States, yel comparatively few people Ifnow how they oper ate. There hit more amiocla l ions (linn the tola! number of national bunks, and there are more than oiie-thli'd as li'.-niv as all Hie hanks cniiiblne'i. Includlm- national, state, and private. Mont of the mone of the mod USEFUL GIFTS to each NEW DEPOSITOR Free Pencil and Blotters To A li School Children SAVE WITH V --'r- " SAFETY. V NUMBER 311 llolirln ern building and loan association Is invested in homes which mem bers are buying through systema tic pnymenls. It is Impossible to Hay how many homes have been purchased with the aid of building and loan associations during thti past ninety-four years, but in a few districts moro than hair the. homo owners have boon aldvd. Tito community Ideals which ant served by these associations lire appreciated throughout the coun try. "A building-and lonn asso ciation is not a philanthropy, it Is a straight business proposition in w Me h a vn I u a b le serv Ico Is re n -tiered to the borrower and Is paid fur by hlnv at a rat Which pro duces, u. reasonable profit on tho investment-. -? Thus the business is fair ii nd beneficial to both sides. Such an association gathers up tho savings of small Investors and puts , them to work : by financing the building nf homeo. By reason of the Installment rln of repayment spread over from five to ten years of monthly dues, the borrower is able to pay for his homo out of hhi earnings." Thrift Is by no means as trito a subject for discussion nn somo would hnvo uh bellovo. "Thrift is a diseiplinnrlan. It breeds viril ity. It Hi likes at sensuality, self-. I Indulgence, flahblness. It teaches tho heroism of self-denial, tem pera nee. abstemiousness, and sim ple living. It Is the way to suc cess and Independence. It makes for h ftppy homes, contented come muni ties, a prosperous nation." The value nf home ownership for u large portion of the population Is not to bo denied, hi spite of many advantages of renting for persons whose work iiiukos fro (picnt moves tiocessary. Amortisation, a method of pay ing off a debt- Tho success of tho building and loan association in promoting the two Ideals Is duo primarily to the use of small per iodic, payments, or the so-called "pi Ir.elpto of amortization." Tho term "amortization" means "kill ing off." nnd Is used to signify the repayment of debts la period ical I entailments. Loans are duo at Home given time In tho future, and when tho amortization prin ciple Is not used, the borrower often has difficulty In finding tho large sum of money to moot the lump payment when duo. Huch loans are called "straight" mort gage loans. It is the common ex perience of lenders on straight bums that the debt Is seldom paid In full except ft ft or several ro newalK. During Hie term of a straight loan (ordinarily from three to five years), the borrower (pays the Interest, but usually makes ; little or no effort to a ecu inula to j a fund fo' I ho repayment of thn principal. As a result, when thn mortgage hi fine, he is obliged eiticr lo renew II Glint K borrow (he same sum for another period ! n mii the Fame lender), or "refund" , Continued on Tagn Thine)