Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1905-06-08
IMPORTANT AID TN
BUILDING UP CITY
Vast Possibilities in Rock Island Being
Realized Through Loan As
sociations.

Rock Island, June S.-Editor Argus:
The alertness of The Argus in foster
ing the growth of the city has been es-
pecially manifest in your editorials urg-
ing the crying necessity for more dwell
ing houses.
The demand for houses is so great
that it can not be met for years. This
demand is due to the small arms plant.
the expansion of factories. and To the
railroad shops at East Moline. The 10
connective repair shop has a capacity of
2, 700 men, and Yet the employment has
been limited to 1900 men on account
of the scarcity of houses i'll the tri-
cities. The railroad company has pro-
vided an appropriation for car repair
shops which would give employment
10 over 1000 additional men. The COM
pletion of this plant will be retarded
until houses can be provided.
Truly an unusual opportunity is pre-
scented 10 us TO greatly promote the
growth of the city if an organized eff
fort is made 10 supply houses.
You will doubtless agree with the
statement that home owners are a
more desirable class of citizens than
renters, and will therefore lend your
support 10 an effort to furnish means
whereby wage earners may become
home owners by paving monthly in
stallments no more burdensome than
rent.
For % years a cooperative effort has
been made 10 provide such means
through the aid of building associa-
tons. The two associations existing
in Rock Island have done more for the
growth of the city than all other agen-
cies combined. They have loaned over
81. 100000 to over 1900 borrowers and
at the same time have furnished a
monthly investment for savings, yield
ing TO the persistent deposition never
less than per cent, and these institu-
tons. by reason of the reserve fund
now required by statute and by reason
of the unquestioned security of all their
loans, due TO the fact that payments
have been made on all existing loans,
are today in a stronger position than
ever in the past.
Experience has taught the associa-
tions conservatism. manifest in the de
termination TO limit loans TO local home
owners who desire not to exceed 81 500
and who have margin of 80 per cent.
With such a conservative program,
il would seem that funds should ne at
tTacted SO that the associations can
better meet the usual demand. The
demand will greatly exceed the supply
of funds for years TO come. 50 that the
"ate of gain to persistent depoSitors is
insured at least to per cent.
In the hope of awakening an inter
est among savings investors who desire
4 fair compensation. coupled with Sc
curity. and the stimulus of aiding the
citys growth, the Rock Island Mutual
Building, Loan & Savings association
has announced in the advertising col
| umns The Argus it's 93rd series. to
which il invites subscriptions as a tes-
| timonial of appreciation of the public
| benefit conferred during the past %
years in furnishing over ! 600 homes
to citizens and as a pledge of the co
operation of the investing public in the
effort to meet the demand for addition
| al houses and promote the growth of
the city. This 25th anniversary series
| should be literally underwritten.
| EDWARD II. GUYER.