The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-04-11
RrILpINa A%ssocIAT1oNs.
The BuIIding Prospects for this Year as
Viewed from their stnndpoint-A Very
DI~seourhRiue outlook.

INV hulLuLhk EEN8HNEN4 lVE NhA- ANak ~
Viewed from their Standpoint-A Very
DIseouraging outlook.
A representative Of the ISrElItoEScER,
yesterday, called on several officials con-
nected with prominent Building Associa-
tions with view to %ascertaining the build.
ing prospects Of the spring and summer 80
far as the business Of the organizations In
dlcated the same at this time. The inter
views had, failed to show an encouraging
state Of affairs as regards any contemplate
cd building, or other extensive improve.
ments projected on the part Of the mem
bers Of the various associations.
In one or two comparatively new as
soclations money was in good demand at
from 80 to IS per cent premium. The
others report little borrowing, and that
mostly for speculative purposes. The
most Of the money borrowed for building
purposes, It Is claimed, will be used for i'm.
provementS and engagements.
Mr.. @. Fl. Delters, Secretary Of the old
and new Nail City Building Associations,
said the old Association was about closing
up Its affairs, but the demand for money
was good. The new Nail City was pros.
pering fairly with money in active de-
mand In fact, III excess Of the supply. The
rate received was IS per cent premium,
which Is equiyalent to 10 per cent paid in
former years. The money asked for was
mainly to be used by the members In
making improvements TO their dwellings.
No important building prospects were con-
templated so far as he knew.
Mr.. @. w. Conner, Secretary OF the
Franklin and US Building Associations,
reported no important movements among
the members Of those organizations. They
were old Associations, and money Dor
rowed at this time would merely be used
for personal and speculative purposes,
Mr.. G. &. Harmon, Secretary OF the
Riverside Association, stated that the
members were not borrowing extensively
for building purposes. One or two instan-
ces were cited where members borrowed
purposing to devote the money to build
Ing houses, but no extensive schemes
were reported. The money was selling al
from % TO- 20 ppr cont premium. Mr..
Harmon said that money was never bid
higher In their Association, as borrowers
would rather go the banks when 1t could
not be lad for % or % per cent. The
prospects Of building among the members
OF THE Association werenot worth mention
Ing.
Mr., Geo. P. LInch was next called upon,
and tile reporter had quite an exhaustive
conversation with him on the subject Of
Building Associations, their benefits and
their abuses. Mr.. Linoh Is Solicitor fol
the Central No. 8, La Belle Perpetual and
the La Belle Associations, and by virtue
OF his office has had opportunities for OBJ
serving the workings Of the associations.
The newer the association is the more &C.
tive is the demand for money, for then il
is that the members who enter for the pur'
pose OF getting a home OF their own are
anxious to see q commencement Of their
plans.
In the Central No. 8, the demand fol
money was good, il not exceeding the
supply, at 50 per cent premium. The
money was mostly asked for the purpose
Of making improvements to property. in
the La Belle Perpetual, the demand was
only fair at % per cent premium. The
members OF the association are working.
men and are small stockholders, and have
in view the erection Of homes for them
selves.
The La Belle was four years old and con.
seQuentiy the demand for money was not
so great, but money was sold at q tair
premium.
Nj. H. C. Morgan, Secretary Of the Col
umbia Association, was askedif the trans.
actions Of that association indicated any
disposition on the part Of the members to
build this spring. He said that not a sin
gle indication pointed that way. Money
was sold alta low premium, but it was not
taken readily. He did not know what the
money sold was to be used for, but it was
not 10 go into buildings.
Mr.. W. O. Handlap was called upon and
asked for his views. He Is President OF
three Associations, the La Belle, and La
Belle Perpetual, and Central No. 9. He
thought that Building Associations indi-
Gated about rs correctly as any other me-
dunn the building prospects for the present
year. He did not think the outlook was
encouraging. Money that was borrowed
now was mostly devoted to paying debts,
or to meet the running expenses of the
borrowers. The Central No. 2 was dis
posing Of money at 80 per cent premium,
but he could say that the borrowers had
no intention OF building.