THE HABIT OF SAVINGOPPORTUNITIES THAT COME TO THOSE
WHO HAVE SAVED MONEY303A few years ago a young man came to Philadelphia from the farming
district of Pennsylvania and went to work in a printing plant. One of his
fellow workers owned some shares in a building and loan company
and had formed the habit of saving $5 a week. This young man was
influenced by his associate to also open an account with the building
and loan company, and at the end of three years he had saved $900.
Then the printing plant got into financial difficulty and was about to
fail. He came to the rescue with his $900, which he had saved in small
amounts, and in return was given a half interest in the business.
By inaugurating a system of close economy he helped the business
to payoff its indebtedness, and today he is drawing out of it, as his
half of the profits, a little better than $25,000 a year.
This opportunity never would have come, or if it had he would not
have been prepared to take it, had he not formed the Habit of Saving.
When the Ford automobile was perfected, during the early days of
its existence, Henry Ford needed capital to promote the manufacture and
sale of his product. He turned to a few friends who had saved up a
few thousand dollars, one of whom was Senator Couzens. These friends
came to his rescue, put in a few thousand dollars with him, and later
drew out millions of dollars in profits.
When Woolworth first started his 5 and 10 Cent Stores plan he
had no capital, but he turned to a few friends who had saved, by the
closest sort of economy and great sacrifice, a few thousand dollars.
These friends staked him and later they were paid back hundreds of
thousands of dollars in profits.
Van Heusen, the famed shirt manufacturer, conceived the idea of
producing a semi-soft collar for men. His idea was sound but he had
not a cent to promote it. He turned to a few friends who had only a
few hundred dollars. They gave him a start, and the collar made each
of them wealthy.