The Bridgeport times and evening farmer., 1920-01-21
THE HOME BUILDERS

ID RIDGEPORT city of homes but it does not enclose O many homes so great city should contain Ana
 This profound attention of the Chamber Commerce. which has made special study and survey of the matter of good housing.
 The the Chamber, composed of some of the strongest business in Bridgeport inquired deeply into the undery the shortage owned honeshe short the home.
 Four main forces have operated housing in Bridgeport first being the ndpoion of and Wom begin the task of saving and preparing for the day when family will be the family property.
 But many very many thoughtful consclenuous men and women of ownership, and delayed carrying purpose effect because the financial of the city have not been adequately directed for the ad vantage aspiring home
 The savings banks, n Bridgeport largely mu- the best friends of the home builders But banks permitted to loan not than 5O cent the value the home and has been for the home very large sum, half of the whole sary could into the enjoyment of the home for which he had saved and sacrificed
 There another The home builder having saved something might borrow 50 cent from savings bank and raise part of the balance on second mortga But this was costly road to travel It road difficult that to take often prevented arrival at destination.
 The usual rate for second mortgage from ten twenty per builder first mort and second mortgage was too frequently eaten up by the huge interest the second mortgage The means by which these mortgages contrved nearly the stars in the sky Sometimes but seldom in erest might be exacd in direct payments but more often the gave his note for than borrowed paid six cent interest on what he borrowed and on what he did not borrow
 There s scarcity the During the period money building. Bridgeport is ter off than cities because the government built hundreds of homes and because the Bridgeport Housing built additional hundreds of homes but there not homes enough and too few people their
 is far from knowing that evil is present. to the remedy will Chamber of Commerce had not in mind merely ascertain impovershment of Bridgeport with respect to homes, but defect; desire make Bridgeport the City of Homes city of home in their own hqmes
 Hence the Home Building and Loan Association orga nized which has at it's head the competent he citV is out profit and only for the purpose of enabling to have in the meantime profitable place their savings
 Building and a sort of savings bank operated under the careful Connecticut laws, which to be loaned absolutely for purpose the only exception being when some wthdraws his fund, in the form of loan to peases
 To become member it necessary but to sign an appl cation form and small membership share subscribed for Shares are $i month and 14O months when with accumulated interest their value will | $2O0.
 The investment pays according the results obtained m thousands of such associations throughout the per cent compounded annually very much better than the ordinary money In ease of the fund can be withdrawn short noce the dpoor borrow against his deposit while his continues interest.
 That is say, that deposits building loan are al most liquid the deposits in savings bank the in vestor is overtaken by sudden dverts him from his main purpose of owning home his savings are N2vailable for his protection.
 The savings banks favor this interesting project pro-
 thrift promotes thrift that homes prosperity that Aprosperty makes a rich and happy city.
 The project Is it's nature altrusc fashion of charity and patronage but after the sturdy fashion inc cooperation in which thrifty people, those for profit and those who home band themselves together organization they that by pooling their resources they all be better
 The family is founded upon the home The ownership the family home Is at the basis of municipal life. Many industrial economic prob lems be solved at this point The ideal state it to promote sufficiently early marriages marriage if not to be too long delayed upon daion Before the young marry there be of state of society in which he of the power to support family The home substantial single element of this