Evening star., 1914-07-29
B. & |. men CALL
ON THE PRESIDENT
Charles E. Clark Of Covington,
Ky., Is Chosen New Head
of U. S. League.
SAN FRANCISCO TO GET
CONVENTION NEXT YEAR
Several Delegates to Sail for Europe
to Attend International
Congress.

KY, was elected president of the United
States League of Local Building and
Loan Associations at the closing session
| of the twenty-second annual convention
| of the organization today at the Raleigh
Hotel Mr., Clark formerly was one OF
the vice presidents OF the league.
Herbert ". Pinkham Of Quincy. Mass,
was elected first vice president. and
George F. Gilmore Of Omaha, Neb., Sec
ond vice president. F. L. Rankin OF Co
lumbus. Ohio. was elected third vice
president. H F. Cellarius was reelected
secretary and Joseph X. Gamble re-elect-
ed treasurer for the twenty-first term.
E.. L. Keesler of Charlotte, N. C., was
elected assistant secretary.
Going to San Francisco.
San Francisco was chosen as the meet
ing place Of the 1915 convention.
Among the resolutions adopted by the
convention was one urging Congress to
adopt the cooperative savings plan as
a part of the federal banking system
This afternoon the delegates and their
wives were received at the White House
by President Wilson, afer which tney
took an automobile tour about the city
and suburbs A number Of the delegates
Will leave TINS evening iof ~" ~
where they will board steamer Tor
Europe to attend the first international
Congress Of Building and Loan Assocla-
tions in London early in August.
Now on Sound Basis.
Two addresses were on the program
for the closing session OF the convention.
Henry s. Rosenthal of Cincinnati spoke
on .'The attitude of the American gov
ernment and that Of the states toward
building and loan associations" Sen
tirnent not to be overlooked in the con-
duct of our institution" was the subject
Of an address by G. Cullen Sullivan OF
Anderson, 8. c.
According to the first speaker tne
building association movement in the
United States had successfully passed
through such trials as financial panic.
industrial depression. fire, storm and
flood and the individual disasters due to
inexperience and Encouragement. It
was now everywhere conducted on SOUND
principles, with government supervision
behind 1t to keep it sound and safe.
But just because the building associa-
ton movement had proved successful
and important the speaker foresaW II
beset by dangers due to rivalry and hos
tility, and he called for a militant organ
ization Of the building association inter-
ests throughout the Union. to defend
what belonged to them. He complained
Of the direct taxation laid upon build
ing associations in some Of the states
and the District of Columbia as a PEN
atty launched against the homecoming
instinct and the desire to be provident.
when exercised through cooperation.
which is not a profit-seeker and there
fore not justly taxable.
The speaker enumerated many instan-
ces Of recognition and concessions wrung
from government authority by such Or
how
tofore been used. as stimulus to closer
organization and conflict.
Speaks on Auditing.
An address of Oreb NJ. Tucker of Bos-
ton on 1.-THE Commemorative Method Of
Auditing" yesterday afternoon was given
mainly for the benefit of the official ex-
aminers Of building and loan associations
attending the convention. The speaker
explained that prior to the year 1912 the
auditing Of the associations in Massa-
chusetts. legally known as cooperative
banks, was left to their own auditing
committees, with only occasional inter-
vention by the state authorities. In that
year an act was passed for regular and
searching audits by the banking depart
ment, and he described in detail the va
rious steps by which no loophole Is left
for undiscovered errors or undetected
shortages.
Education of the Public to the Build
ing and Loan Plan of Thrift was the
subject Of an address by Mark D. Rider
of Chicago, who declared that after an
era Of extravagant living, most largely
pursued by those who could least afford
to be eXtravagant, he saw a yearning for
thrift spreading over the land. Even
the dignified American Bankers Associa-
ton had undertaken a campaign of edu-
~ tsI1
and loan associations to do likewise, as
having the better right and reasSn. The
time had come for them to wake up and
tell the public, among whom they had
been quiet, and most of the time silent,
these many years, that a building and
loan association Is not a complex and
mysterious agency for the benefit of a
small and special class who can find their
profit in 1t. but a great public utility,
safe, simple and sane.
History Of Associations.
Archibald w. McEwan Of New York
city, in speaking on Building and Loan
Associations in the United States: Prac-
tical Cooperation for Home Owning and
SAVING briefly described the nature and
sketched the history of building and loan
associations and reminded his audience
that they afforded the one conspicuous
example of successful cooperation in the
United States. The little associations in
the smaller cities and towns came closest
to the cooperative ideal. because they are
formed and conducted, almost without
expense. by people who know one an
other. and who freely give their time,
service and means to the communal uplift.
The social session of the convention was
held IN the ballroom of the Raleigh
Hotel last night, when the delegates and
their wives made merry. at an informal
| banquet, following which there was
dance. An address of welcome was made
| by Albert Schulteis. vice president of the
Building Association Council Of the Dis
trict Of Columbia. ffteen-minute talk
was given by Charles Eugene Clark of
Covington. KY. vice president of the ma
tional organization. Mr.. Clark spoke OF
the great work which has been accom-
plished by the United States League of
| Local Building and Loan Associations.
| Those who contributed to the entertain
ment program were William Clabaugh
Helen Donohue De Yo, William Seward
Shelby. George H. O'Connor, Glenn W..
Ashley and James Dickinson.