Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1890-09-14
THE PEOPLES BANK.
WHEELING BUILDING ASSOCIATIONS FLOUR
ISHING IN GOOD STYLE,
Despite the Drawback Of the Long Building Trades
Striks-Evsry Organization Prosper
ing and Making Money.

During the continuance of the strike of
the workmen belonging to the building
trades organizations, it was quite common
to hear people who were lamenting the
stagnation in house building, predict that
the evil effects of the strike would be visit
ed upon the Building Associations, and
that many or all Of them would sustain
serious loss through the failure of share
owners TO borrow money
With view to learning just how much
of this rather dismal forecast had actually
come true, REGISTER reporter yesterday
made little tour around among some of
the leading Building Association men,
with a result that was in every way salts
factory. 1t was the conviction of every
gentleman spoken to that the Associations
would be none the worse for the strike.
even though it extended over more than
half a year. and that not one Association
would run single north longer by reason
of this particular wage trouble.
One gentleman, whose name has been in
! timately associated with successful Build
ing Associations for ten years or more past,
said -
"Our Associations-and l use the term
by way of reference to the four / am per-
sonally interested in-have not suffered TO
any appreciable extent by reason of the
strike. To be sure there was a falling off
/ in the demand for money-that was inevi-
table-but we commenced awarding the
money right away, and thus kept things in
circulation. OF course there was some lit
tie grum0ling among the class OF stock
holders who do not go in 10 borrow, but as
/ they all. four times out Of five, have to be
awarded money at some stage, ii really
made very little difference Then, some
of the older Associations Of the city have
got past the borrowing stage, being within
easy sight of the end of their career, and
the strike could make no difference TO
them, one way or the other. The very
young Associations also were not hurt, for
there is comparatively little borrowing
early in the life of an Association. The
! bulk of il is done from about the end of
the first eighteen months up 10 the end OF
three years and a half from the start.
After this last named period, money as a
rule has to be awarded
Another gentleman, who stands at the
! head of a couple of Associations and who
has had u long experience, said
''There is no question but that the build
| ing trades strike knocked out what would
have been the busiest year in the history of
! Wheeling, but it does not follow, as a
natural and inevitable result that the
Building Associations got the worst of 1t.
! You must remember that a very large pro-
portion of people who build are not Build
! ing Association stockholders, and have no
need TO call upon such aids TO acquire a
home. Then, on the other bend, although
the strike was general and a long one, II
did not entirely stop building IL wheeling.
! Not by any means; and if you will look
around YOU you will see that where houses
were built or repairs or additions made
this summer, it was very largely by people
of limited means, who are naturally the
! Building Association borrowers. As arule,
! the gentlemen who contemplate erecting hne
city houses. whether for homes or business
purposes, or who have plans drawn Tor
suburban villas, are the gentlemen who
did not build. while the comparatively
poor man. who was endeavoring TO get a
! home. found means of getting the work ne
wanted done Then, again, it must be re-
membered-and this is a very important
point-that only a small proportion OF Dor,
rtwers from Building Associations Dulld
new houses The average Building AS
sociation stockholders, who want a house,
BUYS one already built by some one else,
and strikes have nothing to do with Affect
such loan, except, ofcourse, when the man
who intended to borrow becomes a striker
/ himself. The REGISTER can set 1t down
that the Wheeling Building Associations
are all prOspering, and that the long strike
had little or no effect upon their standing
or prosperity
The other gentlemen spoken to on the
subject. gave views varying but little from
the quotations here given. and SO uniform
and general a response to the queries IN
dicates that the associations are all in good
shape. go.
Two of the city Associations Cit
zens' No. ! and the Economy-will likely
run out during the next twelve months, as
the average life of a well-conducted Asso-
citation is about seven and half years.