Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1919-04-25
HOME LOAN BANK
bill SUBMITTED
is NOT APPROVED
W. R. Adair Returns From
Meeting Of U. S. League Of
Loan and Building Asso-
citation Representatives.

w. r. Adair, secretary of the
Omaha Loan and Building associa-
ton. has just returned from Wash
ington where he attended a meeting
of representatives of the United
States League of Loan and Building
associations. The conference was
called to confer on the provisions
of alternative draft of bill for a
Federal Home Loan bank.
Mr.. Adair reports widespread in
terest in the movement to furnish a
service similar to that enjoyed by
the commercial banks of the coun-
try in their relations with the Fed
eral Reserve association.
In discussing this measure, Mr..
Adair said: "The bill as submitted
did not meet with the approval of
the committee on a number of vital
points. The purpose of the bill, as
originally proposed, was to do three
things, viz:
!. To commend the building and
loan business as to its underlying
principles and accept methods un-
der state control.
2. To provide for bonds by as
certaining the value of the securities
rendered by means of organizations
easily formed.
3. To relieve the loan and build
ing associations from taxation.
"The prime object of the bill is
to make available through co-opera-
ton by the government of more
funds for home building throughout
the nation. H.
Title Objected To.
Zone of the main objections to
the bill as submitted was the title
Federal Home Loan bank. The
unanimous opinion of our commit
tee was that the name should be
The Federal Building and Loan
bank.
after two days session in which
important changes were made in
the bill, it was decided by reso1u-
ton to leave the matter of putting
this bill into shape or making an
entirely new bill to committee of
five, composed of Messrs. Kessler.
president of the United States
league; Haymaker of Ohio, Hen
messy of New York and myself, an
other member to be named by the
president. .. -.
This committee will meet again
prior to the convention of the United
States league in July and present
the final report to the league, which
will either adopt or reject the re-
port. If favorable, the bill will be
reported for introduction in the
next regular session of congress.
Consent of Many Bodies.
II might say" continued Mr.
Adair, "that Mr.. Haymaker who has
had charge Of framing the bill, has
been in Washington for a number
Of months, and is one of the ablest |
oan and building associat on men
in the country. He has already Sc
cured consent of the American Fed
Grafton of Labor the United States |
(-lidlIlDCl vi AolliiliClSC dllu tlIC wa
tional Real Este board to any bill |
that will prove to be acceptable to |
the loan and building associations
Of the country as whole.
Nebraska is in more favorable |
position to promote home owning |
campaign than almost any other |
section of the country for the reason
that we have an abundance of money |
At low interest rates, while a ma
jority of other sections report a
shortage of money and other con-
ditions unfavorable to a building re-
vival.
"a remarkable campaign is being |
carried on by the United States De-
partment of Labor, information and |
educational service, which is Great
ing a great demand for new build |
ing and loan associations in various
sections of the country that are not |
fortunate enough to have the bene-
tit OF these great cooperative in