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 association treasury to the amount of one-fifth of the purchase price on the home he desired to own, the association advanced the remaining four-fifths, so that he could pay cash for his home. The association was repaid by future dividends. In other words, he could buy a home through the association without loading himself with the usual mortgage and its high rate of interest. The association was safe because it knew dividends would be forthcoming, and that once a man or woman is started on the path of thrift it amounts to an obsession to save and to possess."

Mrs. Moore stopped to open her bag and assure herself by means of a wee mirror against its gray lining that her hat was at the correct angle. Mr. Larry studied her in frank amusement.

"Teresa, you are a singular combination of the frivolous and the practical. Can you leave your mirror long enough to tell me how they have managed to keep this English association free from graft?"

"Through the high ideals of the men who founded and conducted it. The association has