The Marion daily mirror. (Marion, Ohio) 1892-1912, 1909-05-21

cleveland ........... 670,3 36
Columbus ........,, 1,100,652 SO
Dayton ............. 100, ,o37 30
country ............ 4,020,692 II
There was an increase of some sew
en- thousand in the membership of
these associations. We take .he fol.
lowing verbatim from the report OF
Judge Sperra
THE year 1908 has been an all i'm.
portant one in the history of the
building and loan associations of
Ohio. While to those unfamiliar with
their work and history the year would
seem uneventful, It has nevertheless
been a trying period to these financial
institutions, and perhaps the most SO.
we're of any since the establishment
OF the bureau. In the pages that fol.
low will be found a complete detailed
statement of their condition, as the
same is shown by the reports made
by them to this bureau. And the
showing thus made must give cause
for congratulation to those who are
interested in or are friendly to these
institutions, and who believe in the
principles through which they operate.
The recent depressed financial period
was so far reaching in its effect on
the wage Garner and those in moder.
ate circumstances that direful results
to associations organized and main
tained, in large measure, to conserve
the financial savings of these people
were freely predicted. freely com
mented on and the subject OF much
speculation and misgivlng. But the
results to these associations, as Is
shown from the various reports filed
with the bureau, and as will appear
from an analysis Of this volume. Is
convincing that throughout this en-.
tire trying period the building and
loan associations OF Ohio have pros.
pered and grown and in their quiet,
careful and economical way have in
no wise been disturbed by this finan.
cial ordeal On the contrary, they
have apparently remained undisturb.
ed by the furry and have not suffered
TO any appreciable extent by loss
through excessive or abnormal with.
drawals, continuing to accumulate
the savings Of their members and to
loan their funds to buy, build or i'm
prove homes. Notwithstanding the
fact that during the past year many
organized financial institutions were
forced to adopt various methods OF
liquidation and the closing up Of their
affairs, not building and loan asso-
ciation in Ohio was compelled 20
close its doors or defaulted in its nay.
ments. This extraordinary test OF
their strength and stability must give
to the public added confidence in
their condition and management.
THE net gain in assets of these as.
sociations in Ohio for the year was
S6,626,297.l5, and this large gain dur
ing disastrous financial period,
and ruinous to so many, must
be accepted as evidence that the con.
hdence in membership and manage.
ment in associations who advocate
and encourage home building and
home owning and whose principles
are based on a mutuality OF interest.
are permanent in their character and
appeal to the confidence OF all classes
N fair or foul financial weather.
AN added feature of success to the
and loan associations of Ohio |
8 found in the further fact that no |
destructive competition prevails |
among these institutions. The ultl. |
nate welfare of the building and loan
association system depends upon the
Welfare Of the individual associations
constituting the system. The system
'an continue successful only 30 long
II the individual associations con.
inue successful, Disaster visited on
he few will bring want of confidence
nd consequent disaster to the many.
Therefore there is no call for harmful
among them. There is
10 place for 1t, 1t should not be toll
rated"
Building and loan associations are
their circle OF usefulness
nd becoming each year more bene.
cial to the various communities In
ihich they are found. BY their fruits
hey are known and viii continue to
e known, They teach economy and
rye people to be thrifty and to save
heir money. They receive cncour.
cement from the state. and right.
llly so, for the state can well afrord
D encourARe societies whose sole OBJ
act ia In ha hplful tn THAR n,an,h.r. |