The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-07-28
HOME BUILDERS MEET.
u. 8. League of Building and Loan
Associations IN Session.

Detroit, July 2S-The United States
League of Local Building and Loan
associations opened it's fifth annual
meeting today in the city council cham
Der with a fair attendance, representing
all the states, about 20 in number. which
have state leagues of local building as
SOcia tions.
President Michael J. Brown of Phil
adelphia called the delegates to order
and introduced Mayor Maybury, who
welcomed the league to the city and ac-
claimed Detroit as a city of beautiful
homes, more of which he said, were
owned by their occupants than in any
other city in the country
"A mans home indicates his charac-
ter, said he, whether ii be a place or
hut. Men are led into habits of thrift
and influenced to build and own their
homes by the system which your league
represents
President Brown appointed commit
tee on credentials with Irving B. Rich
of Michigan, chairman, and commit
Zee on resolutions with Judge Seymour
Dexter of New York, chairman.
President Brown then delivered his
annual address.
He alluded to the organization of the
league a year previous to the Worlds
Congress of building and loan aSSocia-
lions at Chicago in '95, and recalled the
motto then suggested by President Dex-
ter, viz: THE American home, the
safeguard of American industries"
which motto had been adopted by all
the leagues of the United States. The
president quoted a statement of VIM.
George Jordan, that Uncle Sans people
have Il, 483,31S dwelling houses, which
would make a double avenue reac ching
round the globe, with considerable to
spare.
President Brown gave a lengthy re-
view of the more salient features con-
ne w h0 of
and loan associations from their incep-
ton and of the mutual benefits derived
from their operations. Referring to the
question of central bureau of informal
ton, as discussed at the last annual
meeting in Philadelphia, the president
said that the difficulty of securing nee
eSsary financial support would render
the scheme impractical BILE. He said the
past year had not been home building,
but rather a mortgage creating period,
in which nearly all the people had had
a hard struggle.
Wage earners of the land had sacri-
feed during the last few years SIS, co.,
100000, or ten times as much the
assets of all the building societies of the
United States.
I'VE have lived" said he "off of those
who had savings to spend and homes to
mortgage, and the government has gone
in debt by issuing bonds to raise mon
ey, all of which is charged against the
account of the people to be paid grad
ually- My advice to any young man
desiring to enter trade, would be to
urge him to embark in a business that
low tariffs and free trade can injure
only indirectly; to enter a trade that en-
joys natural protection and is not de-
pendent upon written law for protec-
ton. 1 believe that times will improve
as rapidly as Americans secure the
work at home that is now being done
abroad
The secretary, H. F. Cellarius, of Gin
cinnati presented comprehensive an
chr hof fIan ia
assets of the local building and loan as
sociations of the United States now
amount to 1898, 1888, sos, an increase of
$1S 760, $50 during the past year. The
total number of local associations in the
several states is ATS; their membership
numbers 100000 an increase of 65.171
members during the year. The highest
proportionate gains were made in the
eastern and central states, where build
ing association interests are greatest
and the states showing loss in assets
are all located west of the Mississippi
river excepting the states of Illinois
and Tennessee.