Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1897-10-22
HELPTOBULDHOMES
Second Days Session of the
illinois State Associa-
ton League.
VISITORS SEE THE ARSENAL,

Taken Over In . Special 1rain-Rssums
Business ON Their Retnrn and Listen
to Two Interesting Papers-Toptss Dr.
cusssd as List Nighs's Msstine-Convsn-
sisn 60 He Bought to . Close To-day.
Members Of the Building and Loan
Association League of Illinois began
the second day of their convention
by paying visit to Rock Island ar
sensl. They were taken over in q
special train, which was in waiting
at the Rock Island & Peoria depot on
Twentieth street. and enjoyed the
trip greatly. being impressed with
the magnitude of the govern.
ment works and the well kept ap.
pearance Of the grounds.
The associations business session
was opened at Turner hall at IL
O'Clock. c. 8. Wiley, of Charleston.
brought up . question in connection
with recent audit OF his associa.
ton by the state inspector, wherein
the association had been called upon
to pay what WAS regarded an unfair
charge. The matter was refer
red to the executive committee.
Resolutions we're offered provid-
log for the appointment Of q
committee Of three by the president
to formulate forms for daily receipt
books, disbursement book and stock
holders ledger, and that request be
made Of all secretaries In tho state
to use the form, SO that q uniform
system may be used and the forms
published in the next report; that
the bylaws Of the league be amend
ed to read that no member shall be
eligible to the office Of president to
succeed himself. and that the audit.
or OF private accounts be requested
to separate, in his annual report. 10.
cal from national associations. The
latter was adopted, while the first
was referred to the committee on
new business aud the second to the
committee on resolutions.
The committee on distribution
made Its report, and it was adopted,
after which w. X. Smith, of Chicago.
read paper on "What Constitutes o
Good Building and Loan Assooia-
ton" He said the first thing nee
essary was competent and honest
set Of oilic then people before be-
coming borrowers should be made
thoroughly oonversant with the
transaction into which they are
entering. Then there would be no
Misunderstanding; NO friction.
There were brief discussions OF this
paper by Msssrs. Stevenson and
Carlin.
j. w. Larimer, Of Salem, then de-
livered his paper on Homes Secured
Through Building and Loan Associa-
tions." He said means was afforded
through the agency Of the building
and loan association of enabling
people who could not otherwise do
so to secure homes. He laid consid-
cradle stress on the fact that men
who became home owners made bet.
ter citizens, and the association alike
became a benefit to the individual,
the city and the state. The hour Of
adjournment having arrived, discus
sion Of Mr.. Larimer's paper was de-
ferred.
Interesting Discussions.
| There were some interesting dis
cussions during yesterday afternoons
session Of the league. Hon. L. W.
Sanborn. OF Galesburg. president of
the United States League of Building
and Loan associations, was promi-
nent among those who spoke. 1t was
his opinion that the associations
were shown by the report Of the state
auditor in 1896 to be in sounder
shape financially than most building
institutions, and the fact that most
Of them are obliged to increase their
real estate holdings does not detract
from their general prosperity. In
Illinois the only trouble in build ing
and loan associations has been in
Chicago, and there it has been due
to mismanagement, in many in
stances tho secretaries having been
interested In booming outside addi-
tions. whereas, country associations,
those in the smaller cities, with
loans more carefully scrutinized, Sc
curi;iss are sounder and safer and
enjoy a greater degree of confidence
on the part OF their constituents.
MessIs. EEdZer, Oh NentIhua, anu
Wightman, Of Evanston, followed.
the point being emphasized that
the influence of the failures in
Chicago we're felt in every assooi.
alton In the state and that the con.
vention should emphasize she poin,
that they were due to bad manage
nent and unsound loans and that
the people should be impressed with
the object Of assessments, which il
to make loans to home seekers and
home builders and not on speculative
enterprises. Z. H. Guyer, of this city,
spoke Of the effect of the Chicago as.
sociations and others throughout the
state and while admitting the force
OF bad management. he held that the
depression Was largely Of the nature
OF that felt in other lines Of bust.
ness, and that the loss had beer
comparatively so small in considera.
ton OF other financial institutions
speaks we'll for their stability. Thu
discussion Was continued BY Messrs
Ssnborn and Carr and Julius Stern,