The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1921-08-26
ADVER Using IS
URGED TO- give
PUBLIC INSIGHT
Building and Loan Institutions
Advised to Tell People Of
Great Good They Do.
WOULD HELP HOME SHORTAGE

John j.. Stoddard Plead For Com
munity Saving-Would Push Saw.
ngs Work In Schools-Secretary
Devine Declares Bad Stocks Devil
taIizing Communities-Urges Saw
ings De Kept In Home Institutions.
Columbus, o. - Especially - "No
financial institution dealing direct
ly with the public can fulfill its pub
lie trust to the utmost without car
rying its message to the people
through the medium of newspaper
advertising declared Don l.. Tobin,
director Of publicity for the Ohio
Building Association League, in an
address at the thirty-third annual
Point. He declared the country's
most interesting, but as yet unwrit-
ten, story on thrift and economy lies
behind the Gagged windows of its
home building institutions. Building
and loan officials were urged to go
back home and by advertising in
their local papers tear down the cur
tains of mystery that have heretofore
yelled the inner workings of their
financial institutions. Tobin pointed
out that almost every building and
loan institution in Ohio which was
making itself felt in its respective
community was doing newspaper ad-
vertising. He said that newspaper
publishers, too, should recognize the
fact that greater gains in advertis-
ing had been made among the build
ing and loan institutions In Ohio dur
ing the last year than in any other
financial group.
Home Building Agencies.
That home building in Ohio can
not reach a pre-war basis until more
funds are available for home financ-
ing was salient point brought out
at the building and loan mems con.
vention. IL was shown that building
and loan institutions were the chief
agencies for home building, but that
at the present time they were nandi-
capped by lack Of funds. John j.
Stoddard, Columbus, well known law.
yer, educator and flnancfer and retir-
ing head of the Ohio Building, Asso-
citation League, declared building
and loan institutions had mission
that went very near the heart Of our
national life. He said nation Of
home owners would be one that
would never fear the ravages Of Boil
shevism Stoddard pleaded for COM
munities to take a community inter-
est in home building and said that
in order to do this they must take
an interest from community stand
point in the institutions that made
home financing possible.
Stoddard declared the building and
loan officials had raised their
thoughts above the mere idea of
money making, rising to plane of
public service. This ideal has spread
in every locality, according to Stod-
dard, and will bring about a more
thorough recognition on the part of
the public of the usefulness and oh.
jects of the savings and loan work
Take Progressive Steps.
The building and loan men urged
the carrying out Of savings instruc.
tions and the practice OF practical
thrift in the schools, protested
against the increase of interest rates
on postal savings on the grounds
that 1t would keep money from home
building channels, spoke OF the in
adequacy of the present tax laws,
and asked for the privilege of bidding
upon the private funds OF the state
the same, as banks.
According to Edwin f, Wood, Co.
lumbus, building and loan institu-
tions should make an effort to con.
tinue the organizations for system
attic savings started in the schools by
the government during the war. Ile
declared the school savings systems
rapidly are becoming feature of
American education. "They can and
should be in every school,"
Says Safety Big Factor.
James A. Devine, secretary of the
Ohio Building Association League,
declared that Ohioans had been flch.
ed out of a quarter OF a billion of
dollars in bad stocks during the last
three years. lie urged building and
loan officials to see that the public
fully understood that funds placed in
building and loan associations we're
absolutely protected. that when want.
ed they could be withdrawn dollar
for dollar with accrued interest and
that building and loan dividends were
never suspended
He declared that many persons
thought of building and loan associa.
tions only when they wanted to Dor.
row money. 1T must be impressed
upon the public that building and
loan associations are savings institu.
tions, paying a good rate OF interest
and Offering the best Of safeguards to
the public lie said that investors
were doing duty by their commu.
nifty in placing funds in building and
loan associations, where almost every
dollar deposited was loaned out for
home building"