Evening journal., 1921-11-23
HOPE TO KEEP
Home BUILDING
Contractors, Architects Dis
cuss Plans for Improving
Local Trade
PHILADELPHIA
GIVE HIS IDEAS

Nearly 100 contractors, architects,
supply men and Interested citizens
attended the meeting held last night.
10 consider plans TO stimulate home
building. 1t had been intended to
hold the meeting in the Chamber Of
Commerce, but the attendance was
so large that Parlors A and B in the
Hotel DUPONT, were secured
AS a first step toward a solution
Of the problem committee OF
twelve was elected to investigate
the question OF financing building
operations. to report back TO a sub
sequent meeting. which will be held
probably within the next ten days
or two weeks.
Guy r. Ford acted as chairman OF
last nights meeting and ]. Freder-
lex Martin. a Philadelphia attorney
and secretary OF the Eastern Penn
syivania Lumbermen's Association,
was the principal speaker.
Mr.. Martin detailed the plan OF
organization and methods OF max
ing loans from building and loan
associations in Philadelphia, and
offered many suggestions regarding
formation Of similar associations in
Wilmington, through which the man
OF moderate means could obtain
mortgage money on houses
Charles Warner. George L. Me-
dill. State Banking Commissioner;
Caleb r. Burchenal. S. NJ. Dillon
Carlton T. BRIGHAM, and others also
addressed the meeting.
Mr.. Martin explained the value
Of building and loan shares both
from the standpoint OF an invest.
ment and as a means OF encouraging
savings and thrift. After explain.
ing that there we're 21s3 such asso-
Citations in Philadelphia, he express
ed surprise that Wilmington had onll
six. He also voiced his amaze
ment at the small number OF houses
in this city which can be purchased
for moderate sums. especially a
about $4,000. the price at which NAM
homes in Philadelphia are purchas
able through loans from the building
and loan associations there.
Building material dealers" sais
Mr.. Martin. must sell houses: n
other words, they must be able L
show a man who wants TO build {
home how TO finance it,"
Mr.. Warner suggested that the ex
ample Of Philadelphia ought to form
d precedent for this city. He point
ed out that the Philadelphia build
ing and loan association. had tota
assets Of s2.75O.00O, 900, with saw
ings paid in each month OF $4,000,
900. a large portion OF which find
it way back into circulation througl
the purchase OF homes. In Phila
delphia he explained. there are prob
ably 100000 citizens out OF abou
two million that are share subscrit
crs in building and loan association
In Wilmington, on per capit
basis. he Eaid. there should be 10
such associations instead OF six wit
an income OF about 100000
month instead OF the $4,000 reprt
senting the present receipts
In Philadelphia, It was pointe
out, a man can buy a HON
with only ten TO fifteen per cent. {
the purchase price in cash; yet 4
spite OF the defation process durin
the past two years. only one OF tn
21S3 associations In PHILADELPHIA
failed.
Complaints was registered by SON
OF the builders that it is almost in
possible to secure loans TO prosecui
building operations. Mr.. MART
thought that, as a general principl
building and loan associations shoul
devote their energies and finance
to assisting the individual hon
buyer
Commissioner Mediil quoted figure
from his last annual report. shown
y, that rural New Castle county has mir
building and loan associations wit
assets OF over $1.103,152.47 d.
stockholders. as compared with Wi
mington. which has six association
with lass, 1850 assets OF S1,5OS
9O1.57 due stockholders.
The following committee WI
elected to investigate a plan for stin
ulating interest in home building
S. NJ. Dillon Charles Warner. CT
r. Ford. Joseph NJ. Pusey. Villa
g. Taylor. Clarence W. McCaulle
Caleb e. Burchenal. Egbert Mute
Irving Warner. James p. Robbi
and Morris Penrose.
Several Of those present signin'
their willingness to purchase shar
in a central building and loan a
sociation. The tentative plan di
cussed last night involves the esta
lishment OF other associatio
throughout the various wards
sections OF the city coupled with I
educational campaign to acquaint q
citizens in general with the a
vantage OF investments in buildii
associations.