The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1916-03-10
SEC. WILLARD'S BROTHER
WRITES HIM OF SAVINGS
LOAN BUSINESS
M. G. Willard, Lakeland, Fla

NJ ". wizard, Lakeland, Fla.
Dear Brother: Your letter of in,
quiry of the 18th at hand. You may
see by our January, 1916 statement
inclosed, that Mankato Savings &
Building Association made a fine
gain the last six months of 1915, to
well above the half million mark.
You ask why more women than
men depositors I may not be able
to give you the actual reason, for
have not asked any of them about it.
But | can give you a guess or two.
l do know that women that earn
money are more apt to save than
the same class of men. Our women
depositors, are of teachers, office
girls, clerks and widows, for the
most part. A small proportion Of
married women.
II do know that women prefer our
place to bank. (Ours, as you know
is, much like a bank.) But they do
like the extra | per cent dividends
or interest.
out of total number of de-
positors accounts on our books
January l, 1916, 666-3S9 were
womcn and girls, leaving but PIT of
men.
Il think women have found with
us that they have no trouble to get
their interest when due, and the
principal when they needed it, hav-
ing no worry about it, whether Dor
rover has paid taxes or assessments,
as one loaning on mort age natur-
ally has. ! think this will apply
to quite a number of women, wild
ows and others Of larger means
might mention, such as Mrs.
Mrs. ....,....., and Mrs. ......
and others (naming women we well
know as heavy lenders who would
not like their names known even
here.
such people can rest easy that
they can get their interest January
or July list. and part or all the prin-
cipal if they want it. But | can
claim only that it is the extra one
per cent that brings them here, for
they know nothing about the COM
parative safety.
About banks feeling toward
building associations-as l have said
often, they are a different class of
savers. and when banks fully under
stand the function of building or
'avings-loan associations, they have
40 feeling against them. They can
have none if they know the good a
building and loan association does
n a town or city. Albert Lea has
Two prosperous building associations.
They have many railway conductors,
Engineers, etc, all setting good pay,
md they are good borrowers to
build. We find It so, for we have
few of them here, and they keep
up their payments well.
Bankers know, when they come
10 think, that an association which
has good ioaning business for i'm
proyements. makes for larger values
in the town or city, more taxes and
more money all the time in circula-
ton. And much of it is brought
about by the savings-loan associa-
ton. For the banks don't want to
loan $500. $1,000, $500. $4,000 or
$4,000 to any one for to 10 years,
to come back In monthly payments.
and bankers know that owners of
homes, instead of renters, make for
a better city. and that banks must
be Fainers in the end.
Get as many representatives of
different banks interested as you
can, as that will make for good feel
ing between savings-loan and banks
the best way I know of. OF our
seven directors, four are Mankato
State Bank directors, two are Nat
ional Citizens Bank directors, and
several of the First National Bank
directors are our borrowing mem
bers manning four with whom we
are well acQuainted), and others.
But l must close, with best wishes.
D. G. WILLARD, Secy.