The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-05-25
ASSETS EXCEED
SS00,0O0,O00
Delegates of the 5000 Building
and Loan Associations in
Convention
MICHIGAN man IS PRESIDENT
Eighteenth Annual Meeting of Nation
al Organization Opens-Growth Of
Building and Loan Societies
Has Been Rapid

Charlotte. N. c., May 25.-Amaze-
ment no doubt, would be expressed
by Sam Pilling, Jeremiah Horrocks
lishmen who. upon adopting America
as their future home, brought with
them from England the idea of and
started the first building and loan So
ciety i'm the United States in 1881, IL
they could have been present here to-
day at the opening OF the eighteenth
annual convention of the United States
League of Local Building and Loan
Associations. Little did they think, per-
haps, when they organized the first
society in Frankford, now a part OF
Philadelphia, that the idea would grow
into the popularity and power it now
possesses.
At today's convention were delegat-
es from all corners of the Union rep
resenting about 5000 associations
with a membership of nearly two mill
lions and total assets of over $780,
600, 900. The League will discuss at
it's session today, and those to be held
tomorrow, matters for the protection
and promotion of building association
interests.
Governor w. w. Kitchin himself
came to Charlotte to welcome the del
egates to the state. Mayor L. w.
Hawkins extended a welcome for the
city and S. Wittkowsl<y. on behalf of
the North Carolina Building and Loan
Association. Jay W. Sutton, Of Sault
ste. Marie Mich, president of the ma
tional organization, responded to the
address OF the governor and First
Vice President James M. Mackay 10
the other addresses.
Besides the addresses Of welcome
and the responses President Sutton
made his annual address and the 9TH
er officers submitted reports.
number of addresses were deliv-
cred on subjects relating to the busin-
ess of the members. w. M. Allen, oi
Fitchburg, Mass, spoke on Auditing:
OF what shall 1t Consist?'; Alexander
Moore. of Port Huron, Mich, on stat
us of Investors and Borrowers in IN
solvent Building and Loan Associa
tions": Ex-Governor Winfield T. Dur
bin. of Indiana, on Corporate surety
Ronds. Preferable to Personal Surety
Ronds": Charles O'Connor Hennessy
of New York City, on Law Governing
Withdrawals: What should IL be-
and George +. Gilmore, of Omaha
NcN-.. on Postal Savings Banks
Tomorrow's sessions will be devoted
10 addresses and miscellaneous busin-
ess. DR.. J. NJ. HURT. of Pomona, Cal
ifornia. will speak on dividend Law
L. L Rankin. of Columbus, Ohio or
distinguished Features Between th'
Serial and the Ohio Plan" o. Il. Ea'
ton. of winston Salem, N. c. on The
Building and Loan; an Institution FOL
the People:" Konrad Kicker. OF chi
cago Ill, on "The opinion of a For
eiener on the American Building ant
Loan Association" and George w
Cliffe. of Philadelphia. Pa. on Proper
Legislation for Building Associations
and How The same Should be Secur'
ed"
Manv social events have been plan
ned for the entertainment of the dele
gates and those who accompany them
Phenomenal Growth Shown.
Charlotte, N. c., May 25.-The phe'
nomenal growth and prosperity of th'
building and loan associations was
shown In the report of Secretary Gel
Ilarius at the meeting of the league to-
day. There are 5,713 OF these institu'
tions; 2.O16,651 members; and assets
$S56,332,719. The increase for the yeal
was ia associations; 96,394 members
and $72,146.966. assets.