The Washington herald., 1914-07-28
'BAlJVEREINS open
annual CONFAB
Commissioner Siddons. IN
Welcoming Speech, Lauds
Single Tax.
FAVOR ToRRENS SYSTEM
U. S. League of Building and Loan
Associations to Discuss Rural
Credits Today.
FAVOR T0RRENS SYSTEM

DELEGATES from all over the country
were present yesterday when the twenty
second annual convention Of the United
States League of Building and Loan As
socia tons was called TO order IN the pan
room OF the Raleigh Hotel.
| An address OF welcome 70 the visitors
was delivered by Commissioner Siddons,
who expressed the hope that the asso-
cIation would farther extend the Torrens
system Of land title registrations, which
he declared to be far superior to other
systems.
The Commissioner added that the
league would aid in the furthering OF
the singie-tax movement. Mr.. Siddons
referred to the single-tsx system as one
whereby a more equitable distribution OF
taxes on real estate could be obtained
than is possible under other systems.
welcomed by shea.
The visitors also were welcomed by
James F. Shea, president Of the Build
ing Association Council Of the District Of
Columbia.
A feature Of the session was the an
nual address Of w. J. Bayersdorffer.
president Of the United States League OF
Local Building and Loan Associations.
Under the new banking act, President
Bayersdorffer showed that national banks
may invest some $3.50 900 900 in farm loans
IL they choose. This, in addition to loans
by State banking institutions, authorized
or likely to be authorized to loan on
farming lands. He suggested the i'm
portance Of this subject to building and
loan associations. whether from the
standpoint Of Federal or State legisla-
ton, and evidently relied upon the
leagues committee on farm loans to look
out for building and loan association in
terests IL Congress should seriously take
up the matter OF loans to farmers under
national regulation.
To Attend BIE Connab.
Qualification was expressed at the prom
ised good representation OF the United
States at the first international congress
Of European building societies and Amer
lean building and loan associations to be
opened in London. August IL Approval
was given to the growing tendency Of
building associations to resort to news
paper advertising.
The report of II. F. Cellarius, secrs-
tary OF the league. showed that at the
close of 1918, there were 6,429 building
and loan associations in continental
United States, with assets amounting to
81, 80. .ooo, 900. and nearly $4,000 saving
and borrowing members. Assets in
creased during the year nearly 10 per
cent
Discuss Rural Credits.
THE Land Bank of the State Of New
York" will be the subject OF an address
by Edwin T. Howell, OF New York City,
at this mornings session. K. v. Hay
maker. of Defiance, Ohio, chairman of
the leagues committee on farm loans,
will open an important discussion on
rural credits and farm loans. Legislation
covering this phase Of finance will be
discussed.
Charles F. Benjamin. of Washington. |
will speak on Joint and Survivor Ac-
counts" matters of technical interest to |
the members, and James NJ. Mckay, OF |
Youngstown, Ohio, will speak on The |
American Building and Loan Association. |
Its Birth. History and Evolution"
At the AFTERNOON session Oreb II. Tuck |
sr chief Of the cooperative bank division |
Of the government of Massachusetts, will !
speak on The Commonwealth Method /
of Auditing" and a general discussion |
of Official supervision OF building and |
loan associations will follow. Building |
and Loan Clearing House" will be the
subject treated by Leon Martin, OF Berk-
.ley, Cal Mark D. Rider. of Chicago,
will talk on THE Education OF the Pub
ic to the Building and Loan Plan of
Thrift" Archibald w. McEwan, OF New
York City, will talk on Building and
-oan Associations in the United States"
General discussion will follow each ad-
iress.