Milford chronicle., 1919-05-30
new BUILDING And
LOAN ASSOCIATION
KENT AND SUSSEX BUILDING AND LOAN
ASSOCIATION OF MILFORD ORGAN
lied MONDAY EVENING.
300 SHARES OF STOCK SOLD
OFFICERS AND DIRECTORS ELECTED AT
FIRST MEETING WITH LOUDER N.
HEARN AS PRESIDENT.

At a meeting held in the new office
of the Association last Monday even
ing. the Kent and Sussex Building
and Loan Association was organized
with a half million dollars authorized
capital
The meeting was largely attended
and the offices were packed to capa-
city with representative business men
of Milford, Frederica, Houston Ellen
dale and Lincoln City.
Mr.. c. d. Abbott was chosen tenn
porary Chairman and Mr.. b. ID. Prince
temporary Secretary After the rou-
tine business of organization was com
pIeted and one-third of the nine hun
dred shares allotted to be sold of the
thousand for the first series, had been
subscribed for, DR.. G. Layton Grier
at the request of the Chairman, made
a short address in which he reviewed
the housing situation in Milford.
1t was pointed out that for a number
of years there had been a shortage OF
homes in Milford and that during the
past four years, the shortage had
grown extremely serious. So much
so that at the present time, there was
not a single available house for rent
in Milford. The Government is urg-
ing people to build homes and thus
allow room for others to rent and il
was for this purpose that this new
Building and Loan Association was
conceived and Incorporated.
1t was further stated that there is
only one way to make a community
grow and that is to build more homes.
Every home built means more money
in circulation and more business for
the merchant and better citizens and
happier families.
This new Association will conduct
an aggressive campaign to educate
people to the advisability of owning
their homes and will especially en-
deavor to assist the young men of the
community and the country at large
to own their homes. 1t will not wait
for business, but every shareholder
and officer has pledged himself to do
all in his power to encourage home
building and every assistance possible
will be rendered, even to the extent of
suggesting of plans for homes, which
will be on file at the offices of the As
sociatiOn.
Great good cannot fail to come of
this movement, and judging from the
enthusiasm exhibited at the meeting,
the new Association will be success
full from the start,
4dr. George H. Hall in a short talk
stated that this Association was not
only for Milford, but for all the towns
surrounding Milford, namely, Fred
erica, Houston, Lincoln City, Ellen
dale, Milton or any other town where
people were interested in building
homes. The charter of the Associa-
ton permits it to do business in any
part of the world.
The following officers and directors
were elected:
Louder N. Hearn, President, Milford;
VIM. V. Sipple, Jr., Vice President,
Milford; W. Shockley Daugherty,
Treasurer, Milford.
Directors. J. Stanley Short, Milford;
Joshua w. Bennett, Jr., Milford; c. d.
Holzmuller, Milford; VIM. V. Sipple,
Jr., Milford; John c. Wharton, Hous-
ton; C. d. Abbott, Milford; John S.
Hallett, Milford; H. w. Jester, Ellen
dale; DR.. G. Layton GrieT, Milford;
Louder N. Hearn, Milford; VIM. How
ard Rogers, Frederick.
The first Tuesday in each month
will be Building and Loan Day and
the Directors Meeting will be held
on the first Wednesday after the first
Tuesday.