The Washington times., 1895-06-23

The plan of relief for the poor of the
city by means of a lean ass ociation TO
furnish money on easy terms, as suggested
I 10y The Times, is now in the hands of q
capable committee.
In accordance with the call for the
purpose noted yesterday, a conference of
gentlemen interested in this subject was
held yesterday afternoon at the office
of MesSrs Ralstou & Siddons.
Among those present were DIR. j NJ
Gregory, president OF the Center Council
OF the Civic Center; Mr.. j B. Wright,
secretary of tie Beard of Trade; Francis
Ii. Smith, F. L. Siddons, H G. Potter,
August Donath, H. b. F. Mcfarland, S.
III. Sl5ught, J H. Ralston, Mrs. NJ. S.
Lockwood, H c. Bradley, A N Cooke,
aud others.
The meeting was short, sharp and decisive.
! Letters were read from a nu mEer OF gen
/ tlemeu, most of whom have already declared
their willingness to cooperate, in which
they regretted their Inability TO be pres
'eut.
/ Among these were Mr.. L. S. Emery, sccre-
tary of the Associated Charities; Hon.
! Edwin Willett, Z. Pickman Mann, secretary
/ OF the Beard ol Children's Guardians; +. l..
! Moore, chairman OF the committee on
! charities OF the Beard of TRADE; President
! Warner. Of The Beard of Trade, and Mr..
J. W. Aldertou.
FINANCIAL AID OFFERED.
All Of the letters expressed approval
of the scheme and some of them con-
tained offers of financial assistance.
They weIc read to the meeting by Mr.
j. H. Ralston, vino also briefly outlined
the movement in this interest
On motion DR.. Gregory was called TO the
chair and he appointed Mr.. MacFarland
secretary.
After some discussion ii was concluded
/ that immediate action could not be taken
/ until certain information was obtained and
Il motion was carried looking to the ap-
! pointnlent OF committee OF five TO be
charged with the duty OF Investigating the
! whole subject and, if feasible, 10 outline ana
prepare regular plan of operation TO be
submitted To the next meeting.
The committee was constituted as folio VS.:
! DR.. Gr-gory, eX-officio, chairman; b. Pick
man Mann, +. L. Siddons, H Il, Potter,
! August Donath and +. l.. Moore.
! Mr. Wight CourtAously placed al the dis
p0Sll OF tho committee the rooms of the
! board OF trade Tor its meeting and Mr..
! MacFarland was requested TO act as sec
/ Tatary
The committee will look UP reports, first
| on the question as TO whether such an or
/ ganization Us is proposed can be established
under the present laws of the District; and
second, on the various methods OF practical
/ application.
AR Siddons viii report on the legal
] question involved, and Mr. Dorath will
collect information as to how similar
/ institutions are Iun in other cities.
IL Is understood that the committee viii
! act on all these matters promptly, so as
/ 10 be aide TO report at the earliest pos
slide date.
SOME PRACTICAL SUGGESTIONS.
/ The following extract from Mr. Mann's
letter VIII be read with much interest:
Il VIII be willing TO contribute TO the
/ capital of the association without expect
ng any dlvldcrd on the stock This. in
my view, is n-oIc proper object Tor the
I donation OF money than such undertake
/ iTEs as were in charge OF tie various re-
| lief committees last winter The divi-
dgndS should rot be made more than 4
per cent; 6 Per cent is more than enough.
TIE association should not have a rame
that would suggest any unpleasant
: thoughts or inviGlOus comparisons. Why
not call il the Equitable or Chattel Loan
Association?
If people must borrow, il is a kind
ness to them TO make the borrowing at
as reasonable rates as possible. Bank
ruptcy docs not occur so much from in
ability 10 keep up the payment OF interest
as from inability 10 pay the principal or
TO secure a renewal OF tie loan at maturity.
The poor are especially apt to be un-
able 10 pay for their loans. | VIII ad-
wise, therefore. Tat il adjUstpg rates OF
payment for loans, or S Tcr cent be
collected to form a sinking fund
THE people who have recently bee
paying ten or more Per cent may no
get their loan any more cheaply than be
fore, but they would work off the prnci
pal OF the debt by inStallmentS.
The familiar practice of building anC
loan associations in regard 10 the repay
ment of loans furnishes all tie precedcn
aud preCept necessary in this case.
would, make loans mature in one or two
years instead of any longer period"
The committee will not adopt any plar
until after a fun consideration of tn,
various schemes Of which it will soon b,
in possession.
The prospects are for an early report auC
a gratifying realization of the effort TO re
lieve the necessities of many worthy
people in Washington, and 10 destroy the
illegal and oppressive method now in vogue
OF eXtortiug high rates of interest from
people in necessitous circumstances.