The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1920-02-02

I VIII pardon me. 1 viii use the bank
+ with which / am connected as an il-
I lustration The First National Bank
/ has OF capital and surplus s350.o00.
4 with total assets Of S4.50o. 600. The
I former figures represent the actual
money put ia the stock and the earn
ings for a period Of thirty years.
which stock is owned by some thirty
people. 50 YOU see the stockholders
own less than ten per cent OF the bank
while the ninety per cent OF the total
assets belong to the degositors 1t IS
true that the stockholders are liable
for a sum equal 70 the amount NJ their
stock but tile fact remains that tile
banker who boasts of the banks total
assets is Dragging about tho size Of
his obligations. a thing that most mo-
dest and sensitive individuals seek to
keep in the background.
In the bank OF which 7 speak there
are about FIVE thousand depositors, with
an average Individual balance ~ about
$4,000 each, ranging ira amounts from
Sl00 up to 100000 and more. and the
total amount Of the accounts above
$4,000 would not equal more than ST.
o00.000. 50 you VIII see that the mod
crate or sman depositor has the larg-
Z est interest in the bank.
The average banker is given undue
credit for wealth not his and for which
ne is simply charged with the sacred
duty OF safeguarding. / suggest that
we all as bankers avoid misleading
Impressions.
The local Building & Loan Associa-
tions have IN the past and viii ia the
future prove 70 be the buiwark Of our
citys physical growth. the most pow
erful factor in the building Of lIam
mond We greet YOU. Building * loan
Association as child might greet his
mother. You know as when others
knew as not You gave Us credit when
all others denied us credit You taught
us how to save our first dollar and
then TO wisely use our accumulation
IN 4 home. ii was our first home True.
il was modest one. from which we
heard the sound OF the voice Of our
first born now grown 70 loyal and pat
riotic manhood and womauhood, wor-
thy frugal citizens or our beloved CITY.
From that home we have never heard
the mutterings Of those not in SYM
pathy with the land christened by
George Washington and maintained by
Lincoln and his gallant army, and sus
tanned during the greatest of an wars
by that splendid army Of doughboys
who carried our flag across the sea and
brought it back untarnished and with
/ ADDED luster.
The Building & Loan Associations are
mutual affairs. entirely owned and man
/ aged by the five thousand or more
thrifty people of this city who lay aside
enough from their weekly wage 10
meet an annual expenditure for new
E
Having disclosed the identity Of the
capitalist who is TO advance the mo-
ney for our city building budget this
season, l turn 70 him and ask has view
Las to the wisdom Of building this year
with the high cost Of material and la
Dor
turn to you, Mr.. Capitalist. YOU
men with the dinner pail. you news
boy. YOU girl doing homework, ! ask
you no wmuch Of your money do you
want us to loan on new buildings this
season. You, having III mind that tho
loan required is twenty-five per cent
in excess Of the pre-wa rsaIe value OF
like property. you. having in mind that
the tide of prosperity has been coming
ia for some time. forced by gale, the
fercenss of which was heretofore un-
known to the oldest pioneer.
May I anticipate the reply Of the Ia
boring man capitalist. who is consid-
ering loaning money to the Iaboring
man who wishes to build a home2 NV
conception OF this dual capitalist and
working man. this Jekyl-Hyde indiv-
idual. is that he is not easily fright
ened lie did not hear nor heed the
panic gossip during the dark days OF
our city's history when our first and
only industry left Having been presf-
dent. he was prepared to wait for 9TH
er industries 10 come, and he did not
have to wait long for they were only
too anxious TO locate where thrift pre-
vailed
fancy Nr. capitalst-Laboring
mans reply TO his friend, the laboring
man who wants to build VIII be- eco
to it. / viii let you have the money.
provided however. that the material
men do not take advantage Of the
present shortage and demand excess
sive profits and provided, further, that
Mr.. Contractor win be content with
reasonable profit sufficient to insure
him against loss. and provided. fur-
ther that the various crafts who are
to perform the labor on his home will
furnish eight hours Of honest labor
Man is going to loan his money Die
being ia fun sympathy with LABOR
wants TO pay the Union scale but his
sympathy for his fellow -laborlng men
on his job does NOT go - the extent
that he S willing to loan sixty or sew
enty live per cent ON a teu dollar Labor
i)ill when five dollar labor viii
should 90 the work. Regardless of hfs
sympathy for labor he wil not want
to jeopardize his money and have 1T
hung up in mid-ar because OF some
unwarranted strike. and Ar. haboring
Man the borrower. is equally Interest,"
ed in not burdening himself with All
excessive load. In short both the Dor
rover and the lender ASK for fair
deal and no more. They are willing
to take a reasonable chance even un-
der these abnormal times from which
may come receeding wave which
may wash away his margin of safety !
and cause his investment I'd exceed its
vaIue-he is willing TO take a chance !
but he wants no soldering ora his job. !
How long VIII this era of unpreee-
dent prosperity continue / do NOS
know do not think ans human he-
ing knows. / would not claim amy
insight or foresight withheld from