Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1907-09-13
How Shall 5ratteboro Meet the Demand
for Tenements7


The officers of the board of trade find
themselves constantly hampered in their
efforts to secure new industries for Brat
tleboro by the fact that no tenements are
to be had for newcomers to town. One
of the first questions which any concern
asks if it is considering location in a new
place is as to whether there are suitable
places for its employees to live. Mr.. Fox,
the secretary of the board, is constantly
receiving inquiries for tenements from
men or families who wish to come here.
1t is a fact known to everybody that no
desirable tenements are to be had, and
the difficulty in housing people who wish
to come here is increased by the fact that
the cost of building is now so high. Men
who have capital hesitate about putting
up new buildings, feeling that in a year
or two the cost of materials may be less
and that they might suffer loss should
they begin the erection of new houses
now.
The board of trade officers have turned
this subject over many times and just
now they are asking themselves whether
at least a partial remedy might not be
found by the establishment here of a
building and loan association of the kind
which is common in the larger towns of
Massachusetts and New Hampshire. The
idea of these associations is in brief that
a capital fund shall be subscribed by men
interested in the towns welfare, this fund
to be divided into shares and these shares
sold to men of small means who wish
to build and own their own houses A
man who wishes to build house worth
say $4,000 and who has saved a half or a
third of that amount can readily borrow
the money to build his house. Inc case
is different with a man who has only $500
or $500 at command, Under the plan Of
management of the building and loan
associations, a man Of small means would
be loaned the money which he needs in
the form OF the sale to him of a certain
number of shares, on which he would be
under obligation to make a certain
monthly payment. and he would be put
under compusion by a small fine and
other proper penalties If he did not meet
this obligation.
This is the primary idea, which can be
| fully elaborated should any general pub
lie interest in such a scheme be shown
Reports which have been received from
New Hampshire and Massachusetts towns
show that such associations have been
almost uniformly successful and have
proved a source of profit to their men,
bers, besides encouraging spirit of
home-bulding in the town. In Brattle-
| boro's case, for instance, could dozen
i men who work for day wages be en-
| couraged to build houses for themselves
another season, these houses when built
and occupied would leave room for a
dozen other families in tenements thus
vacated. As in the case of life -insur-
ance, the tendency of the building and
loan association is to institute a system
of compulsory saving, Besides this, such
institutions build up the town by encour-
aging BODYBUILDING and by making per-
manent residents of men and families
who would drift away were they simply
hirers of tenements.
The officers of the board OF trade sim
ply advance this suggestion for the citi-
zens of Bratteboro to discuss among
themselves. If there is a disposition to
regard 1t favorably an opportunity will
be given to talk it over in an informal
way in a meeting of citizens, and there
are men thoroughly informed in regard
TO these associations and their manage.
ment and operation who could be brought
here to explain the plan in detail anC
answer all questions.