The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1918-01-03
SYNDICATE
PLANS FOR
NEW HOMES
How One Hammond Manu-
facturer Proposes to Re
lieve Housing Situation;
Plan for Consideration.

The Betz plan OF syndicating home
building in Hammond to meet the de-
nands OF hundreds OF new families
coming to the city within few
months now h-s the endorsement OF
real estate men. contractors and bank
ers who pronounce il entirely practical
and worthy OF support
it IS based on the same principles
which enabled T. s Betz to outstrip
all competitors IN the making OF sur
gical instruments and establish the
largest factory OF its kind in the
country.
in order that the greatest number
of people may participate in a build
ing syndicate is TO be formed in which
an individual may invest as little as
500 in cash or liberty bonds with
promised earning of twelve per cent.
We now have a number Of members
who VIII each furnish the money to
buld one two OF three houses. but
we must hive enough members to build
Twenty-Five houses at once in order 70
reduce the cost price from $3.50 90
s2.5o0 on the houses" said Mr.. Betz
todav so we have decided to issue
ten bonds of 500 to build each home
tee for those who furnish the money
to buy the bonds Every holder OF
s100 bond will receive the same profits
as the man who invests more Small
investors seldom get in on the ground
floor OF proposition and have a trus-
tee hold title to their property which
guarantees them against loss. An con-
Germs now organized for building
houses issue six per cent or seven per
cent bonds to those who furnish the
money They keep the balance Of the
earnings which generally amounts to
more than they pay on the bonds
Mr. Betz was assigned by the cham
Der Of commerce to submit plan for
cooperative building Of homes because
the five thousand new employees Of the
Standard Steel Car Company must be
accommodated a portion Of his re
port follows.
One large concern recently al a meet
ing cf the Hammond Chamber of Com
mcrce offered to issue six per cent
bonds to those who furnished the mon
ev and divide tho prohts. after they
took out ten per cent commission for
looking after the work. why should
the people OF Hammond furnish the
money and pay a commission Of from
$3.50 Is $500 on "a IN house for IS per
cent Of the profits, after they taise out
ten per cent for telling us what to do?
And why pay this to a concern located
in another state whose entire admin
istrative force does not live here or
spend any of their money here?
Com mittees with experience in build
ing can be selected from the people
who invest their money or our own
citizens viii gladly give their time
in order to make this undertaking a
success, and by doing the work our
selves. get 100 per cent profit, or all
there is in il. and get the house for
$1,000 less than an individual could
build one house for
There are one thousand reasons why
all who can afford tc invest 500 or
more should DO 50.
During the past ten years I have
spent much time on this proposition.
end I viii be glad to give any one
tho benefit OF my experience.
We must build twenty-five houses
a one time. TO get the lowest possible
price from the contractors, etc. If
this undertaking is a success. it will
and build which will give Hammond
all the houses she needs BY having
committees watch things. there can
be no loss. Think or the people here
who know nothing about building &C.
ononioaIy, yet they have contractors
CONTINUED on page hve)