Morning journal and courier., 1891-01-23
ANNUAL mEErING

Off, the New Haven Bund1hE and
Loan AssOciation-Addres of Presi-
dent Grotta-TO Loan Money at the |
Next Meeting.
The annual meeting of the New Haven |
Building and Loan association was held |
last evening in the rooms of the associa- |
ton in the COURIER building Last years |
officers were reelected by the unanimous
vote of the association. The board of
management gave notice that the sum of
$4,000 would be offered as loan to the
highest bidder at the next meeting of the
association, February 5. The annual ad-
dress of President Grotta consisted of an
able, clear and concise report of the work
ings of the association since it's inception,
and WAS intently listened to by the nearly
one hundred members present. President
Grottas address in brief was as follows;
The initiative towards the foundation of
our association was begun during the lat
ter part of the year, 1889. On the 9th of
December that year some twelve or fifteen
gentlemen assembled in a hall in Woods
building and formed themselves into
temporary association for the purpose of
agitating local building and loan
association. Much interest was manifest
ed and subsequent meetings were
held in the Office of Cannon & Burton.
Toward the latter part Of June, 1890, gen
eral interest became very manifest, public
meetings were held in the parlors of the
Selden house, and on August 81 tenn
porary organization was formed. The as
ISOLATION resolved itself on October % into
permanent organization and elected per-
manent officers, vesting its corporate pow
ers in three trustees until such time as a
charter could be procured from the legis-
| lature. The membership has steadily in
creased until to-day it consists of ninety
six members, holding total of 538 shares,
and having paid into the investment fund
total of over 81 200. The bonds of the sec
rotary for 81, 900 and of the treasurer for
81, 1000 have been duly executed, and the
funds of the association are surrounded by
every possible safeguard, and if there is
one assurance that can be given it is that
the safety of the members deposit is as
sured beyond shadow of a doubt.
The prevailing sentiment in our associa-
ton is-and believe it is the better one
that desire for large profits should not
characterize our proceedings SO much as
the endeavor to make the cost to the Dor
rover as small as possible, to enable him
to repay his loan. with the least possible
burden and, to encourage and foster the
building and ownership Of homes.
A new series will be opened February 1,
when new members will be able to join
| without paying any back dues, and many
| individuals have already signified their in
tention of joining: The meetings of the
| association are open to the public, and the
| members could do no better service to their
| friends and the association than to bring
them to the meetings and have the work
| ings of building and loan associations ex-
planned to them.
Active work has been begun to have the
present legislature pass general law in
cooperating building and loan associations
and the work will be pushed forward to 9
| successful termination.
| We stand, as it were, on the threshold
| of new career, full of expectancy and
resolution to carry out good, great work
Let us strive to Guido each other in this
honorable competition to work, to save anc
to secure our future. Let us make rec
ord of money earned and money saved
Let us avoid extravaganza and, above all
intemperance. Let us do our duty, witt
our thoughts upon our families, our eye
upon our future homes, and then, HEAVIER
helping, none will fail.
Progressive Building Association.
The regular meeting of the New 'Havel
Progressive Building and Loan association
was held in the hall in Todd's block las
evening. H. O'Neill was elected delegat
to the conference of the state association
in Hartford January 30. The security OF
fered by Charles Barnes for loan of 81
600 was approved and he will receive hi
money at the next meeting.
rhosa no~ar<ad norn,s
Governor Goodell of New Hampshir
, said at the Dairynen's convention in Har
ford he had been brought up on the far1
, | where he now lived, sold his cream
, Boston and believed the dairy bushes
was destined to be the principal branch
agriculture in New England. The deserte
, farms of New Hampshire are rapid
| being taken up