The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-01-28
THAT B. & |. BILL.
The GreenVi1le Associations
Protest Against It-Mr.
Salinger's 0mi-
nous Talk.

Inc rOOuS Oh lNe Ofe6QFille bulluiuR
and Loan Association at No. so Linden
avenue were crowded with officers aud
members of the various Greenville Build
ing and Loan Associations last night, who
assent bled to discuss and condemn As
semblyman Salinger's bill, which pro-
yides for the appointment OF building
and loan inspector for each county. The
gathering was representative one in
everv respect. The poor workingman
with his one share of stock Joined in the
discussion with the members who owed
big blocks of shares. All present agreed
on one point. and that was that the bill
should be killed. The quicker this is
done the better it will suit these MEM
bers.
The meeting was called to order
promptly at eight O'Clock by Secretary
Routh of the Greenville Association, Mr..
Michael O'Connor. the President Of the
same association, was the first speaker.
He said:-
Il think the bill is an outrageous one.
and the officers and members of every
Building aud Loan Association through
out the State should make every en-
deavor to have it defeated. There is no
need whatever of such an Inspector as
Mr.. Salinger would have placed in every
county. Under the present system it is
almost impossible for any Building and
Loan Association to become bankrupt.
The existing law should be more strictly
enforced th; it has been. Then the ex-
acs condition Of each association would
be known to the State Board. and II the
Secretary's report does not appear to be
all o. K. why, then. an inspector can be
sent to make rigid examination. Ths
Greenville Association has been organ-
lied now eighteen years. We never
needed the service of an inspector. Capa-
pie men were always elected to the yari-
GUS offices, and things were conducted IN
a business-like manner. We do not need
an inspector, nor do any of the other as
suciations in this State The books are
always open, and should any member
suspect that fraud was being committed,
he could demand that an Investigation be
made at once. 1t Is certain that the other
members would back him up, and have
his suspicious either proven wrong or
verified. Suppose such state OF affairs
should exist in our association, would it
be fair to tax other associations to pay
for an inspector to examine our books?
Building and Loan Associations do not
fail every day. Inspectors are not needed
in every county. One man could do the
whole State, thereby saving big amount
to each association"
NO EARTHLY USE.
Mr.. William Zimmerman, the Pres
ident of the Greeuville Association No. 2,
said that the officers and members of his
association were bitterly opposed TO the
bill ''There is no earthly use whatever"
said Mr.. Zimmerman, s'of having such
an inspector in each county. Under the
present law the secretary of each asso-
citation must make out 2 report annually.
This report must be sworn to by the au-
ditors, trustees and directors. would
rather believe a statement sworn
to by a dozen men than the state
ment of one man. The Officers
of the various associations under
stand the working of their organizations.
They are personally interested, aud they
will see to it that no fraud Is committed.
believe that Mr.. Salinger's bill was in
troduced to provide soft snaps for political
heelers. 1t should be defeated, as the
State has no right to tax a man who is
endeavoring to save little money. The
tax is small, it is true, but it is tax
nevertheless. 1t may grow larger Ii the
bill is passed. The only way to prevent
this is to kill the BILL"
Messrs Samuel Ross. Theodore Haver-
mann. Reuben Simpson, David Hale and
John Morrell also denounced the bill.
after which the following petition was
adopted unanimously
To the Hon. Ma1 Sdiinger:-
We the undersigned representatives Of the
three building and loan associations in the
Greenville section of Jersey City, the Green
vile, Greenvile United and Greenville No. 3,
do emphatically protest against the bill intro
duced by you IN the Legislature relating to
building and loan associations, IL DelnS Q6tEl-
mental to the interests of the working men In
terested gin cur associations. We therefore de-
mand the immediate Withdrawal OF the bill.
CIR EENvILLE BUILDING AND LOAN AsscCIA-
T1oN- Michael O'Connor President; Samuel
Ross, Trustee; Theodore Havemann, Trustee;
David Hale, Treasurer
GREENvILLE ASSOCIATION No. 2-William Zim-
norman, Presidents DR.. j. A. Stegman, Treas
urer; Dr. A. j. Lignor, Tru ustee; ALBEIT Lem
beck, Trustee; Henry Gosthardt, Trustee
GREENyILLE UNITED Observation-Disclosures
Adolph Rochodl, Trustee; W. J. Bancker.
Trustee; John Walbrecht, Trustee,
TOO HEAVY TAX.
No meeting was held at Smiths real
estate Office on Montgomery street.
though one had been talked of. Mr..
Smith said TO reporter for THE JERSEY
CITY NEWS that when the news of the
presentation of the bill was received a
few days ago, he had consulted with
Messrs, Frank o. Cole, Erwin and Gar
rison as to the propriety of calling meet
ing to discuss the matter. IL was finally
concluded to defer action until 1t was
ascertained whether the Assemblyman
was really determined to press its passage.
MR.. SAILING ER's POSITION.
I afterWard called upon Assemblyman
Sainger at his residence ou Bergen ave-
nue.. When asked him what he pro-
posed to do in regard to the bill, he re-
pl:ed that the opponents of the bill were
getting themselves into great
fret over nothing. He knew
little about the bill. and cared
less. it is not his bill and he was not re-
sponsible for its inception. 1t being
drafted by other parties, who had asked
him to present it, and he had simply done
so. On hearing it stated that 1t provided
for q tax of five cents upon each share, he
decided to have it amended at once, but
on examination he found that was not So
the tax beng levied upon each share
holder, which he thought was not UNJUST.
Finally he said he would withdraw the
bill ou next Monday night and wash his
hands of 1t entirely. 1r anybody had any
objections to the bill he was perfectly
willing to meet him in consultation, hear
any suggestions. and nave the Dill
amended accordiugly. The pay OF the
Inspector, he said, would not amount TO
over $500 or $500 year. Somebody had
goe so far as TO charge that he, Mr..
Salinfier, wanted to pass the bill to make
an Office for himself. He would punch
the nose of anyone who would say that to
his face. He was not rich man. but he
was not looking for Office. certainly not
for paltry ones OF that sort. Tue liDel was
ridiculous every way, in the face of the
fact that he couldn't get It ii he wanted
it. not being of the right denomination
He had made no reply to attacks, but
when he got through with the Legisla-
ture, he would give them reckoning.
oMINoUS TALK.
Mr.. Salinger believes some method
should be adopted whereby the books
and doings of the Building and Loan AS
sociations may he brought TO light All