Alma record. (Alma, Mich.) 1878-1928, 1920-01-15
new DIRECTORS
WERE ELECTED
Alma Building & Loan AssOcia.
tiOn Will Increase Capital
to One Million.
GOOD BUILDING OUTLOOK
Many Applications for Loans on Con.
templated Homes In Alma Have
Been Made.

The stockholders of the Alma
Building & Loan Association, at the
annual meeting held Monday evening,
authorize the directors of the assoc
iation to proceed with the plans for
increasing the capitalization of the
local building concern to $1,000 900,
there being every evident desire on
the part Of this association Of Alma
people to do everything possible to
promote the healthful growth of the
community
The reports that were given at the
annual meeting indicated that the
81 900 club, recently formed in con-
nection with the Alma Building &
Loan Association, but in stimulating
the idea Of building homes in Alma,
and the association is evidently GER
tain to be swsmped with applications
in the next few months for aid in
home construction here. One big
evidence Of this is the fact that one
Alma company has already made ap-
plication with the association for
loans with which to construct ten
modern homes in Alma.
1t was reported, also that the
$1,000 Club was growing in a very
satisfactory manner, the secretary's
report showing that the club had in
creased the membership of the Alma
Building & Loan Association about
four hundred per cent in the last
few months.
1t was made certain at the annual
meeting that the campaign for men,
berships for the 81 900 club will be
carried on more energetically in the
coming months than in the past few
months, as there is certain to be a
great demand this coming spring and
summer for loans for houses in AL
ma. Before the campaign is brought
TO a close, every man in Alma who
has an income sufficient to allow him
to save the needed $3.50 per month,
will be invited to join the club, and
to share its benefits at the end of the
period for which he joins. At the
present time there seems to be no
question but what the club will Sc
cure the thousand members that it
is seeking and in time have a fund
of one million dollars available for
home builders in this city.
ID. l.. Johnson, secretary of the
Alma Building & Loan Association,
Tuesday called attention TO the num-
Der of vacant lots in Alma that were
owned by people living out Of the
city, who had evidently purchased
them with view of making money
on them. He pointed out the in
crease that must be secured over the
original price, if these parties were
to secure interest on their investment
and for taxes, and stated it as his
belief, through his close contact with
building operations in Alma, covering
a long period of years, that the best
way for these people TO make money
in Alma would be to build homes on
these lots, and then selh as the need
for houses here was such that they
could quickly be sold at advantageous
terms.
At the annual meeting Monday
evening there were some spirited con-
tests in the election of the directors.
Following is the board that will serve
during the coming year: Frank f.
Pollasky, Charles G. Rhodes, Charles
o. Ward, d. l.. Johnson, Floyd II.
Glass, l.. N. Baker, X. +. Davies,
Glen S. Crisp, A. G.. Moore, A. p.
Cook, f. B. Soule and c. II. Smith.
AS some of the directors were
called away before the meeting came
to a close, the election of officers will
not be held. until the next meeting
iS hold