The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1916-01-20
WANT TO HELP LAKELAND
SAVINGS-LOAN co.
Editor Telegram and News:

Editor Telegram and News:
feel that must tell you for pub
LEGATION. especially on the eve of our
contemplated canvass of the city,
for additional stock, to enable us to
make more and faster the loans we
are asked for, because of the ease
Of re-payment-in small monthly in
stallments.
I wrote to the American Building
4! Association News, the organ of the
Local Mutual B. & L. Associations
/, in the U. s.. some time ago of the
situation here-how the work here
is not progressing as rapidly as
hoped. and as would be expected Of
a live, pushing town, as Lakeland
has had the reputation of being.
The News" is always doing what
it can to help on "the good work."
as the older associations call it,
when it is not called missionary
work." and had published my COM
munication entire. Still, as l reside
at Lakeland, and did not want to
seem to be a kicker. l did not men
tion anything specifically.
All over the north the B. & l.. sec
retaries are ready to help us with
literature, etc.. but l find now that
there is the same feeling in the
South, among the progressive COM
panies-so I will quote from one Of
them-or rather from pusher,
who is secretary and treasurer Of
both the North Carolina Building
& Loan League, and of the Spratt
! Building & Loan Association, Of
I Chester. S. c.. Mr.. B. M. Spratt
! Although / had no thought of it
being such, he writes, that seeing
my pleas in the News prompts
me to offer encouragement in your
movement for the organization of a
Building and Loan Association in
Lakeland.
"a short running account of their
operation here will be of interest,
as showing their many advantages
and benefits.
There are three associations with
over $4,000 shares, membership of
near 1900, and assets of over $780,
900, since organization they have
taken in nearly two millions, have
built for their members, Furnished
the funds rather certainly fifteen
=, hundred homes, in whole or in part /;
and what is of scarcely less import
ance, have been the means of saving
over half million for their mem
bers-that is by members who are
not borrowers.
"These latter go in simply as the
very best place to lay up systemati-
cally a certain amount monthly. 1t
would surprise you to know how
many go into it-clerks, stenopragh
ers, railroad men, factory operatives
ETC., and business men. Nearly
every business house in town carries
shares. We have a number of them
with 20 to 200 shares, in two stores
just opposite our Office there are
81 books come in from one and 25
from the other, the two amounting
to over $500 month, mostly in
vestors.
1T is in this way that we get the
funds to accommodate borrowers
and by making the institution popu-
lar, throwing it open for everybody
and entirely mutual, all sharing
alike, no high salaried officers, only
paying secretary and treasurer a
nominal sum, until it grows large
enough to warrant more.
This is the secret of the wonder
full success of the Building and
Loan"
IF / can be of any service to you,
and YOU will advise me in what way,
will gladly comply. with par
ticulars.
81 am sending some folders we
get out which may interest you
With several years experience, and
attending a number Of the National
League meetings land of course as
its secretary-treasurer, also attend
ing the State League meetings.,
have become an enthusiast on the
subject. Will be glad to hear from
YOU"
OF course he will, and can help
us by sending some of his folders,
tell him. I shall also tell him later
believe, that this letter has helped
us. For it comes from a Southern
man, from a pushing Southern town,
like Lakeland is credited with be-
ing. How can Lakelanders dare dc