, 1875-12-19

II III Edikor Of The Ch,aaoa I7lbtant:
CHICAGO, Dec. 1e.-I noticed in your Sunday
| Issue Of the 18th inst. communication On the
subject Of Building Associations in which tho
writer attempts to defend an association in which
he seems to bold an ''honozary" position.
against your criticisms Of the expensive manage
naant and appointments OF Building Aasociations
in your city.
Thoroughly appreciating their value, and hav-
ing de1ivad practical advantages through them
az source OF profit, it occurred to ma to LOOK
into the Association to which he alinded. and
through friend interested in it and very en-
thusiastic, / have been placed in possession Of
the leading features OF this Association, and
find that. though claiming to he organized on the
Philadelphia plan, there ars so many points Of
difference that it might bettar ia called the Chi
ca9o plan.
Economy in management is one OF the leading
features Of these Associations but find this As
sociation requiring ovaF four times the labor in
tho conduct Of TIA business that is required in
Phil2delphia-
The dues on the shares are payable weakly,
while our Associations pay only mouthly. Lbs
aggregate OF payments amounts to about the
same. nut the same routine of duties ls required
fiftv-txo times = year which the Philadelphia
plau requires to be done only twelve tines /
am informed it now requires almost the en-
tire tina OF N expert accountant to discharge
tho duties OF Secretary.
Your correspondent excuses the necessity OF
paying tine en'ire salary OF . Secretrry on the
ground thas bis is the only Association III the
CITY, while in Philadelphia one Secretary attends
to the business Of several Associations
II the Peoples Building Association NOW re-
qu:res so nearly the entire time Of 6rat,class
man what will he do when he geta half dozen
such associations On his hands With IL 000. 600
Of stock issued in each7 The fact is, your
criticisms must have been pretty near correct
and it il great pity this Association was organ
ICED on plan that has been tried before and
abandoned ~ imperfect
am further informed that this Chicago plan
embraces systam OF accountR With it's members
nearly as extensive as that Of y savings hank,
keeping regular bank hours foz deposits, and
much Of the machinery incident therato.
This is no part of the Philade1rhi4 plan, and
involves risk and cost which these associations
never aBsume.
AZ to s.pla.e elass,n dc. it strikes me it
would be difficult to find an Office in any con-
venient part OF Jour city that did not have
condemned for th4t 80 long ~ the rent account
is kept low. In Philadelphia some larga hall is
selected in which at different dates hfteen or
twenty associations meet and transact their
business once month-and the matter OF rent
becomes insignificant. --'
The Secretary usually has IN Office Of his own
where he can be seen at other times, but the
material part Of the business is transacted only
At the monthly meetings. and in the presence Of
Is many OF the members as choose to attend.
It is easily to be seon why in PhllAdelphia these
associations are managed With such economy.
Long experience has reduced the whole mat
ter to the simplest possible form, and adapted It
to the least possible amount OF labor, while at
the aame time the work ia thoroughly well done.
Thus it viii be seen that there are very material
ns7$f hat ANr kY+6