The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1916-01-29
HEADS FREE LOAN SOCIETY
J. Dukas Who Has Business Interests
in Bennington.

bNew York Hebrew Free Loan Society
Incorporated, held Sunday Afternoon
at the organizations headquarters al
| l08 Second Avenue, President Julius
J. Dukas who has business interests
here in Bennington, announced that
during 1915 the society had broken al
previous records in making free loans
A total of s670,505 was loaned during
the year. The previous record was
made by the society during 1914
when S655,140 was loaned without in
terest. The president further an
nounced that the society would ex.
tend it's scope this year to include
Brooklyn.
Jacob f. Schiff and Adolph Lewis
ohm both spoke at the annual meeting,
and Mr.. Schiff. in commenting upon
the extension OF the society's activit.
les to Brooklyn, broached the subject
OF ignoring borough boundary lines as
far as charitable organizations were
concerned Controller Prendergast
was another speaker and heartily sec
onded this suggestion. He said he
wished Mr. Schiff would take the lead
in a movement to carry 1t into effect
II am intensely interested in the
society's work, in its constructive feat
ures,r Mr.. Sehiff said. Yours is not
a charity society. Ii is a business
concern with an altruistic basis, con
Germ that builds up existences. The
fact that your loans are made princi-
pally with the character instead of
the collateral OF the indorsers as Sc
curity speaks volumes for the integri-
ty of the great mass OF people with
whom you do business, and the fact
that it has been necessary to collect
only . per cent. OF your loans from
the indorsers instead OF the principals
speaks volumes for the character of
the people whom you aid and for the
honesty of your community"
In his annual report President Oak
as had referred to the effect of the
war on the work OF the society He
said the war was the direct cause of
great demand for loans. but that.
with the revival OF industry in this
country, demands upon the society
4 had assumed more normal tone. Mr..
Schiff commented on this feature He
said that prosperity because of the
suffering caused elsewhere by the
war was q misomer gor the condition
brought about in this country as re-
suit OF the war. In lighter vein he
suggested that. Mt their present rate,
Of pauperizing themselves. the Euro.
pean Governments might soon be ap-'
plying to the Hebrew Free Loan So
ciety for aid.
In that event" he said, Il would
caution you to investigate all re.
quests very carefully"
Adolph Lewisohn spoke briefly aud
also referred to including Brooklyn
in charity organization work
Both Mr.. Lewisohn and Mr.. Schiff
have been liberal contributors to the
Free Loan Society and when Mr.
Lewisohn finished speaking It was an
nounced that he had just offered to
give 81 900 more to the society for
every 1000 new members that 1t en-
rolled. 1t already has 7.490 members
of whom 1902 were enrolled during
the last year Mr.. Schiff recently con
tributed $l.50O toward the expense of
opening the Brownsville branch.
Regarding the work Of the Free
Loan Society Mr. Lewisohn was en-.
thusiastic. aifafl
1T has enabled great many to get
on their feet without the loss of their
self-respect." he said. ''and it is only 4
fair and right that the public should
help to carry out the work on a larg,
er scale than ever before in the years
to come"
In his annual address President
Dukas said that losses during the last
year, although it was very trying
year, had been no greater than dur
ing the previous year. They amount
ed to $4,58S.50 or about five-eighths OF
per cent. of the total amount loan
ed during the year.
For twenty-four years we have sue
cessfully shown the world that most
people are honest and repay their
loans, if a proper chance is given
them" Mr.. Dukas said Our statis-
tics continue to show that over 81 per
cent OF our loans are repaid by the
borrowers themselves, and less than
2 per cent by the indorsers. This
speaks well when we consider that
over 75 per cent of our indorsers have
no commercial rating"
Mr.. Dukas said that the society's
loanable capital had been used five
times during the year. and that, as
the capital increased, the society's
field of work would be almost un-
limited.
Mr.. Prendergast congratulated the.
society and it's officers. He also
caused laughter by suggesting that
number of public benefaetors organize
another such society, with the muni
oipal Government as sole beneficiary
and lend money to the city without in
terest
The annual report of the society
contained list of the trades of bor-
DaJJInre, LODI thn l;,t +t,.o