The Bridgeport times and evening farmer., 1920-12-10
WOLFE POINTS OUT J
 HOUSING LESSONS

Continued from Page One) the minimum of expense, risk and and which afforded larger return because of the limited competition for such large loans.
 The acuteness of the housing situa- tion caused the company, he said, to modify its methods as a measure of .. .trusteeship. The middle of this year, the company decided to restrict it's : loans entirely to new small dwellings and new moderate-priced apartments. The loans are based on half of the land value plus the construction cost, emitting overhead, carrying charges and profit. Loans are made at Is years, with interest rates current in section, per cent being paid off or the whole loan can be paid off at ! end of three years. IF .- The company, MT. Stabler, has de- centralized it's loaning by selecting either banks or trust companies in the immediate localities as loan rep resentatives. These banks make the construction loans and the insurance company makes loan only after house IS completed. The bank collects the interest and installments t1tf'~ +
 MT. Stabler pointed out that the Metropolitan could receive much higher than per cent. on other safe investments and thus was forced to secure 6 per cent. net on its invest
 
 ence of banks had been that although profits in handling those loans had not been large, they did bring cus- toners. <
 The method has been in operation since June. The policy is not to loan more than $5,OOO on a single dwell ing, as 1t is the belief that in making loans on dwellings costing more than S10,000, class is reached which does not need the assistance that the com pany is rendering.
 The company now has loans on over 5,OO0 dwellings and 500 apart ment houses with a total mortgage investment of $1EO,O0O0OO on S3OO- oOO, 900 worth of property. 3
 MT. Stabler urged the audience to use thelr influence with savings banks and other insurance companies to use their funds almost to. the exclusion Of other forms of investments to lend money on homes a duty which they owed as trustees of funds of the peo- ple. There isn't any risk in a proper system, properly watched"
 He also expressed the opinion that while a recession of prices in building materials was On the way, they would never get back to pre-war levels
 The 1O:30 session was opened by B. ]. Ashmun, president of the Home Building and Loan Association. who Introduced Edmund S. Wolfe, the first speaker, as one of the leading citizens and bankers Of Bridgeport.
 MT. Wolfe's speech in full will be found an another page
 Delegates to the convention are be- ing shown the sights of the city this afternoon, including the several hous- , ing. developments, in --even buses of the Bridgeport Bus association
 The sight seeing trip is under the auspices of the Chamber of Com r'erce, which sold tickets for the trip To he guests for 50 cents each.
 The visitors will be shown Seasid e park, the 1ranistan avenue develop ment, the Black Rock apartments, the tTrasSmere avenue and Fairfield houses, the Brooklawn section, Mill Green and Remington Arms develop Llent, the Connecticut avenue village and the Connecticut avenue apart- mentS.
 After visiting these places the guests will be brought back to the Stratfie1d hotel :.