Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1889-11-23

Give Our Working People. the Bone and
etnsw Of the ConDunt,y. . Chance TO
Become Home oWne1s.

u Become Home 0W00fo-
The meeting Wednesday evening Of the
Loan and Bailding Association sas largely
attended BY those Who wanted loans The
Journal 10 conversation With Secretary Lib
BY, yesterday, cleaned some information that
i, would seem should be Of interest 70 every
man in our commonwealth Who has . desire,
either from pride or pecuniasy intesssk. % zee
the city grow in substantial manner.
There VS. "a, 500 in loans bid % 1t our
las, meeting. With only about q 900 coming
in from the shares in the Association" said
Mr. Libby in answer to the Journals ques-
tons.
"Hov does this demand compare visa the
average during the past year. Mr.. Libbys"
1T 10 the largest ever made. At the pre-
yious meeting about - 900 .ss asked The
demand has steadily increased since the As
ISOLATION began iss work"
Quite . striking contrast this call for
% 800. from those presented two years ago,
10 there nos?'
Most assuredly, When We first started
~e were compelled, ~ i, we're. to create q
demand. Now the lsboring people are
waking up to the advantages offered them
by our institution"
This awakening you speak of must be
Of beneficial results to Augusta"
Why. sir. believe that but few of our
people realize the vast benefits that are sure
to accrue from helping our lsboring men to
have homes Of their own to become tax
payers; in short TO adopt this city A. their
permanent place of residence. where
they will invest their savings, which perhaps
before they had homes Of their own. were
oft repeated question Deepening the chan
Gel Of the Kennebec 10 . good thing, blu Iding
the bridge is good thing. but l believe the
work of the ASSOCIATION is paramount to all |
lation, and this increase is. and will con-
tinue 10 be from those same work
ing people. Nov, the problem is, how to
make the energy of this class = perma-
hcip III he'eiopnB oAt Sisy' shibA
you will agree with me that there is no better
way than to make them householders. and
thereby encourage them to thrift. Now to
do this requires no philanthropy on the part
of our moneyed men. Their money will be |
in safe investment and yielding them rich
returns. We don't ask any gifts. We sim
ply ask investors to examine into our work, /
for by so doing they cannot fail to see that
this medium"
Does the demand for loans come from
any particular CLASP
Not by any means. No race distinction
in this movement, l assure you. But perhaps
you nigh not think it, that many from our
French population are. with their accustomed
thrift, seeking to erect comfortable homes
for themselves
The city already shows the effect of the
Associations lsbors to quite : marked extent,
does it not:
Look at the ne. houses that have sprung
up Oh Maple street, on CushnOc Heights, on
Northern State street, at Stapleton and you
have your answer. Of course similar results
can be seen elsewhere. but n sntioned those
places as striking examples
TO what do you attribute the success of the
Loan and Building Associations here and
elsewhere. Mr.. Libby?"
The reasons are many. but to the install
ment plan or the opportunity Afforded of
purchasing home on monthly payments. but
little in excess Of rent, and the equitable
method which these associations provide for
dealing between investor and borrower"
It was on . much worn subject We had
been talking. but the enthusiasm with
which the needs and rev features Of the
work were depicted and the grand possibili-
ties a. seen through Mr.. Libby's thorough
Acquaintance with it, lent the theme fresh
coloring and interest.