Omaha daily bee., 1898-07-28
HOME BUILDERS IN SESSION
United States League Of Building and Loan
Associations Meet.
ADDRESS OF PRESIDENT LUKE W. sANBoRN
Suggestion for the Advancement of
the Cooperative work-secrctnry
CcIlnrius Gives some Inter-
esting Statistics.

In the council chamber OF the city hall yes
terday when the sixth annual meeting OF
the United States League OF Local BUILDING
and Loan Associations was called TO order
by Lake w. Sanborn OF Galesburg, ILL.,,
president Of Che organization. The dele
gates come from as far east as Massachu-
sets and from as far south as louisiana.
Every paper on the program Tor the entire
Session was reported present and a majority
of them will be presented by the writer's.
The indications at this opening meeting
are that the attendance at the session will
euual II IL does not exceed that at any pre-
yious meeting. The delegates are already
expressing satisfaction over the location of
the annual session in Omaha and predict
an interesting and profitable time.
Many Of the delegates arrived yesterday
morning, and the league was delayed in get
ting to work that the time might be used in
greetings and introductions, and recounting
experiences since the last annual meeting.
Other delegates will arrive today. Sew
eral women, wives of some of the delegates
were present at the morning session.
President Sanborn called the meeting to
order at 10:3o, and introduced Mayor Moores,
who made the welcoming address. He said
he deemed 1t a pleasant privilege to well
come the delegates of the league to Omaha.
He said the Anglo-Saxon was by nature a
home lover and a home builder from the
time Of Caesar. They were called barbar-
ians in the centuries past, but had In them
the life of liberty which has made it's i'm
press felt upon the American citizen of to-
day. He congratulated the league upon the
truly patriotic emblem adopted by the
league, The American Home, the Safe
guard Of American Liberties" He said the
great trouble. too often with the common
tanD1a ic NOT tno Isttla aarnaJ htt tnn
little saved, and he looked to the building
and loan association to remedy this. and
make it possible for every American wage
Garner to own his own home. Formally
welcoming the league, he presented the
golden keys Of the city, and assured the
delegates of the freedom of the city with
all that the term implied.
President SanbOrn's Report.
President Sanborn responded to the well
coming address briefly, and then delivered
his annual address, which in part was as
follows:
The league seeks to organize state leagues
in the states now unorganized, thus being
able to amend bad laws and to induce law
makers to enact just and equitable statutes
which shall protect and aid their stock
holders. We also keep a vlgilant watch
over national legislation and have been sue
cessful in the past in avcrting disastrous
1tBlSlullOu ny properly lUIueuClUS our INV
makers, who were convinced that our cause
was Just.
We are not antagonistic to other financial
institutions. While we are not bankers we
are in a manner helpers of the banks and
every other business institution in the
community. The secretary's report at the
Bankers National Association meeting, hello
at Detroit In 1885, stated that the chartered
s DarN =, 'e snoo o"n nnS Tho " h,1idina anG
loan associations ~ our country IuIv 1Sg7
showed over 5000, 600 GOO of assets. whiot
includes stocks and surplus also. And ii
you will stop and think, you will find that
the building associations are comparatively
new ~ our county anu ma ~ ,neS 49," 81
th,u howa IN tha nas+ tuentv-Rve veors W,
will no doubt be able to show as much CAPT
Ths u uo ee Of Inst laws in severa, states
is fast bearing good fruits and is weedin,
out the INSCRIPTIONS schemers who for
brief time have held sway. State super
VISION ana comPuisofS meoh UIaoo Mn and nav ar
consequently ioiomeu NV pn"o sootina a.
piaHihs tne usime om q mm .ono - an
WINE II may nnve seeni n Hhsone " sone
nave proved Wise anu Just'
Ihese assoIla.ions, wnie severely a1aee
uurlns the ms. nuu, 49, sa lbs, th
showed u Permanency winch mas peeh ~
admiration anu wnmuer OF tne peopie, an
the peI'en.aso VI t inSr ~ w. = = - s ~, In nn
noluels hhs pevh ~ ~ gu
lhe 'essone aus 80 n ~ H. "a
serVal'ehess "s sf'"' q" III Il ''net vi
feg,loh. uoax r.
me s.a'e ieasues y ~ ioMas ~
nentuohS az y" go 49, 1--WE" CA
missouri are reihsta'eu nneihunis' =.
AFTER aiiuuihs 10 suecessiui ehores I
have building ana loan ASSOCIATIONS eS
empted from the war tax bill, he said tina
hundreds of thousands Of dollars were thu
saved to the association, which would other
uiso have heen Maid NV the ,ahorinp me
onndnt ouno,, 80 ~ ,tno,, ~
WV - - .hn -
q the only borrowers OF the iuhus.
Thu president appointed p. G. Vason {
Illinois, Fred Bader Of Ohio. and ID. +
Christie of Nebraska, as a committee O
credentials.