Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-05-25
LEAGUE OF 8. |.
ASSOCIATIONS IS
TALKING BUSINESS
Annual Convention Is Told OF
Wonderful Growth of Savings
Institutions in United States.

CHARLOTTE, n. c., May 25.--The
eighteenth annual convention of the
United States League of Local Build
ing and Loan Associations opened here
today. Delegates We're present from
all corners of the Union, representing
about 5000 associations, with II men,
bership of nearly $1,000 900 and total as
sets of almost $500, 600, 900. The league
discussed at it's sessions today matters
for the protection and promotion ~
building association interests.
Governor w. W.. Kitchin came 10
Charlotte to welcome the delegates to
the State. Mayor r. W.. Hawkins ex-
tended a welcome for the city, and 3.
Wittkowsky, on behalf of the North
Carolina Building and Loan Assoc;a-
ton. Jay w. Sutton, of Sault Ste.
Marie, Mich, president of the national
organization, responded to the address
of the Governor and First Vice-Presi-
dent James M. Mackay to the other adj
dresses.
Besides the addresses Of welcome and
the responses. President Sutton made
his annua address. and the other ob-
GERS submitted reports.
A number of addresses were deliv-
cred on subjects relating to the busi-
ness of the members. w. NJ. Allen, Of
Fitchburg, Mass, spoke on Auditing:
OF What Shall it Consist? ?" Alexander
Moore, of Port Huron. Mich, on
Status of Investors and Borrowers in
Insolvent Building and Loan Associa-
tions;" Ex-Governor Winfield T.. Dur
bin, Of Indiana, on Corporate Surety
Bonds Preferable to Personal Surety
Bonds" Charles O'Connor Hennessy, Of
New York city. on 'Naw Governing
Withdrawals: What Should it Be-"
and George F. Gilmore, of Omaha, Me-
braska, on Postal Savings Banks"
Tomorrow's sessions will be devoted
to addresses and miscellaneous BUSH
ness. DIR. j. M. HURT, Of Pomona.
California, will speak on 'Dididend
Law" L. l.. Rankin, of Columbus,
Ohio, on Distinguished Features Be-
tween the Serial and the Ohio PLAN"
O. B. Eaton, of Winston Salem, N. c..
on THE Building and Loan: an Insti-
tuition for the People," Konrad Kicker,
of Chicago. ILL.,, on The Opinion of a
Foreigner On the American Building
and Loan Association and George w.
Clife, of Philadelphia, Pa, on Proper
Legislation for Building Associations
anu IlOW Tie Odf1G CuOulO BE So
cured"
Phenomenal growth and prosperity Of
the local building and loan associations
Of the United States were shown In the
report Of Secretary H. F. Cellarius. Of
Cincinnati. who said that the gain in
assets of the building and loan associa-
lions in the country In 1909 over the
previous year amounted to over seventy
million dollars. the largest increase in
a single year in the associations his
tory.
The number of these institutions
now" he said, 'is 5.718, with 2,01e, 65I
members, and with assets a~ggregating
$780, 1872, 7ls. This Is an increase for the
year Of ia associations, SO, 1894 members
and s72,156,966 in total assets
In assets the report showed the great
est gains to have been made in Ohio.
$l4.164,OT7; Pennsylvania, $12, $50, 255;
New Jersey. IS, 269,s27; Massachusetts,
s4,6ob, 7S1, and Illinois, $4,413, sos.
The report showed further that the
average amount due each member In
creased from Sa67.22 to s424. So, a gain Of
1875 per cent.