Norwich bulletin., 1917-12-07

Probably by the first of the new year. home builders in this state Wl1l have an opportunity to benefit by the opportunities provided by the newly organized Bankers Mortgage Com pany, Inc, of Hartford. to secure loans necessary to carry on lts plans
 Bankers throughout the state are interested in the establishment or thls company as it takes care of situa- ticn which they realize exists, and affords relief to prospective settlers in the state, who cannot be helped directly by the banks. The general mortgage market will also be afford ed relief Under the strict laws of the state the savings institutions are not permitted to loan money on build ings in construction Manufacturers have felt that their problem of in ducing high grade mechanics to come into the state, has been rendered ad- aitionaIly difficult by the housing sit uation- There are not enough houses to 20 around and the money to build additional ones is not available through the ordinary channels.
 The organizers of the Bankers Mortgage company realize that there is a shortage of money for safe mort gage investments in this state. due partially to the abnormal demands created by the war made upon the banking institutions in supporting the federal bond issues. The Bankers Mortgage company, Hartford insti- triton has been formed with a capital of q, ,00O, 900. It win loan money on the best grade of construction mort Eages at a fair rate to the borrower, but adequate to bring a guaranteed liberal return to investors. These mortgages will be placed with perma- nent investors, trustees and institu- tons, and will be divided into $100 parts The company expects to bene- fit builders and realty interests by providing a wider field for placing mortgages and will benefit the man ufacturers by enabling their thrifty employees to own their own homes. This in itself is a valuable benefit to the worth of any community.
 Affects All Business.
 Industrial growth and real estate development are regarded as vitally linked together. and it has been as- serted by experts that no state can have a permanent industrial growth without a corresponding development in the real estate field. The prosper ity of the business man depends di- rectly upon the success of the manu- featuring plant, and the success of manufacturing plant is dependent in great part upon the comfort and sat isfaction of it's employees In bridging over the needs of the workmen for proper housing facilities. the setting up of mortgage company on the lines of the one being discussed has a direct appeal to all interests of a. prosperous community.
 Bankers Approve.
 Speaking in this connection, Martin Welles. vice-president of the Connec- t.cut River Banking company, wnu is a director in the Bankers Mortgage company and formerly vice presi- dent of large New York Mortgage Company, said company afforded an opportunity for private investor trus- tee and the executor to invest with absolute safety small or large amounts in the most approved form Of mortgage security. '"The company rot only guarantees the investor against loss" said MT Welles. "but relieves him of all details in regard to the investpent- He receives by nail his check for interest on the day ir is due. These are features which appealed to the New York investors and institutions, and at the present time there is hardly a bank or insti- tuition in New York state which has funds to invest that does not hold guaranteed mortgage certificates. The New York company after which the Bankers Mortgage company is forr=.- co, made it possible for thousands of worthy people to build homes for themselves. This company during its quarter of a century of existence has been of immense benefit to the real estate interests in the general up- building of greater New York In all its history no client ever lost a dol lar and the company never passed dividend"
 Morgan c. Brainard. vice president of the Aetna Life> Insurance company, commends the general idea of the guaranteed mortgage company. He said he had found that these compan- les had worked we'll in other states particularly in Massachusetts and New York, and he was satisfied that the men associated in the formation of the Hartford company were of an ability and integrity to duplicate the general benefits accruing from the companies in other states