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Show I M Poor men's Club. f ; Within ihe past few weeks there has " ;i organized at the Twenty-third : street. x,mv York branch of the Young j M',,s Christian association a "Poor M i s ' lub." composed of ten young -nei.. vdiose object is to pool their sav-yi sav-yi and invest the total in a manner f v hi -h will insure them larger returns '! mm if each acted singly. The members I "' the Iub are young men who work 'r small salaries, who have brains. ' -I some business experience, but !it-) !it-) ' money, and. not satisfied w ith put-j put-j itic what they have in a savings bank, : I thus united and formed a work- .''s eapital. through which they hope j . ' i.e able to earn a good per cent on j i ieir investments. I The dub wa-s formed at the sugges- 1 :'!; of Waldo TT. Sherman, who, in I capacity as educational director. ; 1-' many young men come to him and I e-k advice as to the investment of j '' eir savings, one day not long since was talking with one of these i J ""hg men. ho sal i . ! don't know what to do with my i iioiiey. l save about $10 a week, but I '! is making money only in a neg-.' neg-.' sense 1 don't turn my dollars "' r. They simply lie in the savings hjc-k and rot. In one day I spend i: ) than the interest of my money it d::-i:ig a whole year. $ I may lose my situation at any ' . . . but even if I keep it I can't ever j !" to accumulate enough money by " I .,..,. S;.viug to enable me to live in- l d'-pcndent ly. I haven't got enough ". ley to start a small business , v"'il dn't want to if 1 had. I don't to speculate on margiirs because "f the enormous risk. I haven't j I ' ".;gh money lo buy stocks or bonds i ;,s an investment then what do you j! IV is.- me to do?" I 'lrii.-k by the constant repetition or H.:s question of the small, wonldbe in- E ,'':to. m -. Sherman recalled the suc- S "-ful iffoit of some young men of 1 'osto, seyeral years ogo. who lunbed brains and money and ar" today Vi ' i t h v men. f W hy don't you." be said, "find some I f'iiows in the" same position as your- S s'it and unite vour experience and piia? G.t fel'lows who have good business counection-s, who know how u' turn over money if they had some-j some-j thctig to start on." Meet every little I v biio and discuss the disposal o4 '""r funds in real estate, real estate HK.rtgages. or what not and I thinit you'll succeed." This was the founding of the Poor -A,-'. s dub. Its organization is stin I ir". ;e,ent to judge of its success. That ! .nurse will depend on the thousand e'd one circumstances which contrib-'''" contrib-'''" to the success or failure of any lr,.'sinf.ss . . '- ''.' '!' formation of' the cUib. how-"v"". how-"v"". K- significant. It tells the story it the thousands of email investors ! in New York City who are seeking to j place their money in a more protita-j protita-j hie place than the savings bank. Many I of these are young men Employed as clerks at a salary of from $10 to $25 a week. Th-se young men have in view the I gaining of a small competence, possibly pos-sibly the rearing of families. In order or-der to do this they feel that their savings sav-ings must be well invested, and thus insure themselves against old age, sickness, accident and loss of position. posi-tion. "There are," said Mr. Sherman the other day, "more young men in this city than one would think who wrestle night and day with the problem of how to get on. The majority of them are ambitious youth from the country, coun-try, who have come here to seek for-j for-j tune. They haven't any illusions ; about the easiness with which money j can be earned. They have, in some , measure, graduated from the University Univer-sity of Hardknocks. They realize that I ability counts above all ease: that to j have any hone of success they must I take constant, risks in which lie dan- ger and probability of failure." ; Mr. Sherman says he knows men in j New York City's garrets of the finest intellectual power, of artistic makeup, make-up, who haven't the faculty of combining com-bining brains and money, who lack the business instinct, who don't know-how know-how to value themselves. For them the city is a poverty-stricken hole. They are the prey, in a fashion, of those who have the business instinct. Mr. Sherman says that in hi-s daily contact with these ambitious young men he has seen many rise to places of large gain. In 1S97 one came to him and said that he was getting about J2 a week as a clerk in a downtown down-town commission ofiiee. but intended to quit, as he had no hope to rise. He advised him to ask his employers for a different sort of work. He did so. thev tried him on outside work, and todav he is earning $"i.0(io a year. This is but one of the many examples which make Mr. Sherman hopeful for I the young man of brains and small I means. |
