Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-08-14
Building and Loan Ass'n's.
| Of West Are Numerous,
State Bank Examiner Smith Re-
turns from Milwaukee wiihIdeas.
Board Of Pharmacy Examiners in
Session, Wednesd day and Thursday.
STATE HOUSE CALENDAR.
Regular Meeting Of Governor and
Council, Friday, Aug. %, 1918, 10 A. M.

That Western farmers are finding
building and loan associations of great
value for all purposes in which the Dor
row ing of money for local uses is con-
eerned. is the impression brought back
from Milwaukee, Wis, by State Bank
Examiner, Harry NJ. Smith of Bangor,
MIR smith hts been i'm attendance upon
the National Associations of Building
and Loan Examiners, and the 21st an
nual meeting of the United States
eague of local Building and Loan AS
sociations.
Western farmers are graspinS the
possibilities of these associations much
more than their eastern neIghbors,
Maine especially he thinks. Through
these they acquire land or buildings,
Ebuyins additional equipment. etc. They
invest in their own associations anu
mortgages are had on their own pro-
perty Ii is the same in the country
as tas associations perform in the city.
Whether or not this idea can be ap-
piled with profit to the State Of Maine,
MI. smith is not decided, and he does
not wish to go on record as faVoflhS
them for Maine farm owners. but he
Intends to present the facts to them
5ss they exist in western states
aud then let Maine farmers judge Tor
themselves as to the merits of the pro-
position In the West, 1t makes Tor
local prosperity. keeps the money at
home where it works for the interest
eff the home community, and IN general,
lit is a big clement for prosperity wher-
ever adopted.
= Another idea Mr.. Smith brings back
10 Maine. is that there should be state
organizations Of building and loan as
sociations such as prevail in the parts
he has just visited. He feels that
Maine could form such organizations
with profit and which would be a tower
of strength To the community.
There are now 81 organizations in the
State with membership of Hin WITH
total assets worth si,910,S96. Robert r.
Dunten, former bank examiner In MS
t1eport says:
The growth of these institutions has
been gradual and healthy. The IN
crease in numbers of shareholders anu
borrowers shows that more people than
lever before are ayailing themselves oil
the benefits To be derived from THESE
institutions, while the decrease In aV-
erage premium and average rate OF IN
terest charged on loans, though small
is a change in the right direction. Inc
. importance of these institutions TO the
communities in which they are located
. is becoming more apparent every year.
!, This report offers much encourage
n1ent that in time the plan as SET
forth by the Western farmers may be
adopted by our own farmers with Sood
results. Already the cities have had
their share, and 1t now remains Tor
the broadening of the organizations IN
to broader scope of the work.
Mir. Smith was elected vice president
/ of the National Association of Building
and Loan Examiners and George IL.
. Skinner of New York, was elected pres
! ident.
Many papers were read, many relat-
ing to the work of the building assocl-
alton during the Omaha tornado ana
the Ohio and Indiana flood.
Y The Board of registration of phar-
macy is now in session at the State
House. the session to continue until
Thursday night. Fifteen candidates
for certificates are taking the examina-
lions. The written work was gone over,
I "Wednesday. and, Thursday, practical
examination will be made.
Chief Game Warden Perkins of Han
cock and Penebscet counties was at the
3ptfice of the Fish and Game commas
sion, "Wednesday. on business connect
e. with his office.
"A