Omaha daily bee., 1922-05-18
Onlahan Speaks
at Convention
of Loan Bodies
Building, Savings aud Loan
Associations Marching Into
Easy Street, Says I. j.
Fitxmorris.

1 J. line o u, May lo,-tSpcSlill--
Building. savings aud loan assoela'
tons oi Nebraska arc marching
steadily along Normal avenue into
Easy street" declared +. ]. fitzmor,
ris OF Omaha, seefetsry-tfeasnfer oi
the Nebraska League OF Savings and
Loan associations, ., the Jlst annual
meeting OF that league which opened
Al the Lincoln hotel here this morn.
ing q, 10.
Business is fairly good. Money
"a plentiful with most associations,
and gains IN resources are the rule.
These barometeTs oi thrift aud home
getting furnish encouraging evidence
oi increased saving aud greater
economy among the people.
Improvement Shown.
The marked improvement in the
constructive business interests served
by mutual associations is further
shown by the increased number OF
loans for building sad buying homes.
Building activities in cities and
towns, particularly in Omaha and
Lincoln, surpass the spring rush OF
last year and ioreshadow substan.
,ial gain over the total home building
record OF 1921.
This cheerful business situation
situation does not approach the leaps
and bourss OF growth which marked
the fiscal year oi l9l9.l920. when as
socia,ions rolled up an average gain
OF Ia per cent in resources. Fortu-
nately SO. Booms carry the red
lights OF the business world. signal.
ing collision and irreparable blow
outs. The present rate OF growth
clearly marks a return to the high
way OF safety and sure footing.
Reports Support Views.
Reports from 43 associations out
Of the IL in the state for the nine
months ending April ], 1922. support
The favorable business conditions
here outlined. The reporting asso-
:iations show gross assets of S79,-
$685. ,280, equal to % per cent OF the
states total. In that period the grain
n assets amounted to S3,80l .538, a
,lear ) per cent increase, which will
larry the total resources of all asso-
,iations in the state close to $780,
100000 at the close OF the fiscal year,
|une 80, next.
The figures Of cooperative pro-
,ress bear a message OF cheer and
to the saving and home
yetting people OF the state. BY rule
VI majorities, Nebraska is a home
'wners' state. According to the fed
,ral census of January, 1920, there
we're at that time 303.436 dwellings
n the state. OF which 1873 were
occupied by the owners. Home
ownership constituted 57.4 per cent
# all; placing Nebraska 18th among
he states in percentage OF owner
hip. States ranking higher are Wis
onsin, Minnesota, North and South
Dakota, Maine. Vermont. Michigan,
owa, Idaho, Montana, and Utah.
32.5 Per Cent Mortgaged.
"The census reports l77,753 homes
'ther than farm homes, which COM
rise the dwellings in the various
communities of the state. OF this
umber, 1O3,67l or 5Ss per cent, are
'wncd by the occupants and 325 per
ent are mortgaged. The average
alue of mortgaged homes is placed (
$4,l75 and the debt $l,646. The
alto of mortgage debt to value is
9.4 per cent.
The percentage Of owned homes in
Nebraska declined from 59.1 per
ent in 1910 to s74 per cent in 1920,
oubtless due to the restricted build
lg activities OF war time. Neverthe-
,ss the states record of ownership
tands 1l.8 per cent above the aver
&c for the whole United States. Un-
ncumbered homes constitute 6l.7 per
mt Of the whole number of dwell
lgs on farms and in cities and towns. ,
)wned farms numbering 1896 were I
for $l68,507,859 and {
alued at sos, ,56l 400. The ratio of
lrm mortgages to value was 23.o
IF cent. Homes not on farms, 49,
70 in number, were mortgaged for
,5,427 ,688 and valued at $l4O. .oO7 ,534.
he census bureau admits that its
atistics are not complete, as infor-
alton was obtained on only .6S.6
r cent Of the mortgaged homes. +
Ownership Decreases. t
Data compiled for cities of $4,000 t
opulation and over show that home il
decreases as population in a
eases. Lincoln, with a population $
54,946 in 1920, scheduled 1882 a
omes, Of which number 6,84O or t
IA per cent were owned by the S
Census takers counted G
.,4oo homes in Omaha. of which
,528 or 48.4 per cent were owned #
Z the occupants. G
"The census reports afford sub n
antial and gratifying proof of the "
tiled, industrious and thrifty char
ter of Nebraska's family life. and G
the best evidence of the Il
instructive work and worth OF saw t;
G and home promoting associa- a
,ns. In the last quarter of CEN t
ry, these mutual institutions as
;ted in building $4,000 homes, loan
$50, 900, 600 repayable in long time
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