The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1891-07-23
BUILDING And LOAN.
Convention Of the Associa-
tlon League at Tren-
ton Today.
$4,000 B. AND L. MEMBERS.
Statistics from All Over the State
Net Capital of More than
s22,OOO,OOO.


TRENTON. July %. 1s91.-The first semi
annual meeting of the Building and Loan
Association League Of New Jersey began
here today. Sixty out OF the eighty asso-
Citations in the IeaRue were represented
Judge E. Ambler Armstrong, of Camden,
presided.
The question of the membership of
delegates from the national associations
was brought up bY Thomes Pohl. of the
Protection of Newark, who objected to
W. B. Wilson, of the Chosen Friends
Home Loan and Savings League of New
ark, sitting as a delegate, because the
association is national one. The third
article of the constitution of the League
says:-"No person shall be admitted
as delegate to this league who is iD any
way connected with the so-called nation al
Building aud Loan Association" Mr..
Wilson was called to explain the work
ings of his association. He stated that 1t
was incorporated under the laws of New
Jersey, and while it was connected with
a national fraternity or order it had a
local application. The chair decided that
Mr.. Wilson was entitled to his seat This
brought out lengthy discussion. w. A.
Linn, of Haekensaek, thought the
constitutional provision useless.
Others followed in the same strain,
some going further and declarin z
so much that it says that any building
and loan association transacting "a
legitimate business" may become mem-
ber of the league. The question was
whether the Chosen Friends conducted a
legitimate business. A motion to refer
inquire into the affairs of the Chosen
Friends was lost, and the matter was re-
ferred TO the Executive Committee.
DISCUSSING THE MECHANICS LIEN.
There was much discussion over the
Mechanics Lien law, aud the general
tenor of the remarks was that the
law should be annexed because it caused
too much Inconvenience to property
owners to secure all the releases. A re-
solution was passed expressing the dis
approval of the League on the provisions
OF the Stull Mechanics lien law, and in
structing the Legislative Committees TO
secure repeal of the objectionable TEA
lures.
An unsuccessful attempt was made to
have special committee appointed TO
consider life and home insurance in con-
nection with the associations. so that for
placed on the individual, which will in
case of death secure the home to those
interested
Some of those who spoke on this sub
1eCb expressed Tears tuaO IQG annexation
OF insurance would cripple the associa-
Iion.
EXECUTIVE COMMITTEE NAMED.
Treasurer Livermore announced S405 in
the treasury. The Executive Committee
WIS announced as foliows:-FirsJ Con-
gressiOnal DistFict-Jonathan Duffield.
J. Lewis Rowend and Char
les T. Dare. Second Dis
Irict-James b. Hankins, Charles G.
Robson, L. II. Boyson, NJ. ID. Third-P.
H. Gilhooly ana w. r. Coddington.
Fourth--Vacant. Fifth-Eugene Emley
Sixtn-Adrian Jeroloman. Thomas Pole
and w. II. Boardman. Sevenrh--Joseph
Jewkes, Michael J. Binder and Henry
Steffens
This committee will shortly issue a
pamphlet of information collected by the
Secretary on the division of profits
The League was organized on January
Goth, 1891, when the following officers
were elected: President. Z. A. Armstrong,
Camden; First Vice-President, w. A.
Linn, Hackensack; Second Vice -Presi-
dent, William G. Nelson, JERSEY City;
Treasurer, w Harrison Livermore, Wood
bury; Secretary, George Forman, New
ark. The objects of the League are TO
encourage legislation favorable TO build
ing and loan associations; TO secure a
greater uniformity in their management
upon strictly equitable principles. and to
guard and promote their interests
throughout the State.
The afternoon session began at two
O'Clock.