Every evening, Wilmington daily commercial., 1920-07-21
WARNER co.
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The nerd for HORSES built the way en-
plnNcs wanted them. with the dlningroom
papers ln PINK or bike, Just as was most
plcasinu to their eycS with little gardca
plot nn which the thrifty could raise
lew vcgct nhlcs for the winter and an ar
angemcnt whereby the cmployc could
paN fnr his house IN easy monthly install
ments a. an independent association OF
organization other than the employer
and Thus himself realize some Of the
profits ~ such plan these are the things
that appear % hc most appealing today.
Md these were the ideas considered by the
Warner Company va formulating their
housing plan Whether other Wilmington
ndustr rial plants can profit hy this expert
mont is something for those concerns to
consider
u is q known fact that three or four
very large industrial concerns have
failed to locate IN Wilmington within the
past three wears. because of the housing
situation These concerns honestly wanted
g. locate herr because of the railroad
facilities and the opportunity that APP
pcarcd To- upen for the future IN the WAY
~ water transportation When they learn
ed nf how the present workers here were
fsring for houses. they sought other
sites FOR their Industries.
WARNER PLAN is SMILE.
As stated above, the Warner plan is
very slmple II provides n very easy and
independent way for an employc Of any
~ their Cedar Hollow plants acquiring
4 home There Is hut one restriction and
that 4 very natural one aS we'll rs essential
the horne must he erected within one
and one-half miles Of the plant. The com
pany owns much land thcrcahouts. al
though not all To any one who wishes
to build q home and who has worked for
the company for ono wear. the company
viii do this II will give a two acre plot
of ground free Of charge II Will give %
per cent of the cost of a house TO the cm-
plove not eVceedng $1,000 As a, final
inducement the company which is arranC-
ina for the employees to organize their
own building and loan association, will
loan at per cent 70 the association, the
remaining money that y needed to con
struct the hons 50 that practically rot
penny Will have 90 lie paid at the start
for the lot and house
The question naturally arises what
are the TcstrlctIOrs or strings TO this
unusual offer Practically there are
none When an cmploye has made his
regular payment 10 the loan association
fOf 10 or II ycaIs and has satisfied the
haildmg and lean mortgage on his house
the Warmer Company will cGnce, q mort
gage they take on the gift of 20 per cent
and which i without interest II the en-
ploye has enough money 10 nearly build
= home the Warner Company will make
the Cift ot 20 pcr ccHt first mortgage
without intercstwitt the cmortgagerunning
ten wears without interest before IL is
canccted. II the cmployc has no money
and has 60 borrow S0pcr cent of the money
for the house. the company viii mike
the 20 per cent gitt a second mortgage
MEN TO CONDt Ct owN DAN ASSOCIATION.
Plans Tor the loan association have been
drawn and IL viii be known rs the Cedar
Hollow Building and Loan Association.
Tho association viii heorganizcd off ccred
and conducted entirely by the employees
not the company.
The plan OF providing for industrial
workers allowing them to borrow money
from the governnient-isp provided for in
Senator Calder's bill much alorg the same
line as the Farmers Bureau whereby
farmers can borrow money on their crops
The mayor Of New York has housing
committee that j. struggling with the
housing problem for New York industrial
workers and some of the Warner Com
pany plans are Incorporated in what the
New York housing prohers are finding
satisfactory, but none of them 90 as far as
the Warner Company. and vet make the
plan one that only a thrifty mar ard
home seeker can make successful.