Evening journal., 1922-03-31
STATE LEAGUE
OF BUILDING
LOANS LIKELY
CONTINUED From First Parel

CONTINUED From First Pase)
Milford. president Of the Kent and
Sussex Building and Loan Associa-
ton; f. L. Jones, OF Dover. repre-
senting the Peoples Building and
Loan Association Warren A. Sim
giles. OF Newark. representing the
New Castle Building and Loan As
sociation.
Decision to organize a State league
OF building and loan associations
was reached at a dinner conference,
called by the Building and Loan In
formation Bureau OF Wilmington.
and held last evening In the duBarry
room OF the Hotel dupont The
conference was after 1ed by 141 men.
representing all three counties Of
the State and was highly enthusiss-
tic.
Addresses were made by Charles
Warner. chairman OF the Whining
ton Building and Loan Information
Bureau who acted as toastmaster;
Mayor Harvey, Daniel Crawford,
Jr.. Philadelphia; George l. Medin,
state Bank Commissioner; former
Mayor william G. Taylor, Alexander
NJ. Linnett, OF the L. s. League of
Local Building and Loan Associa-
tlons, and others. c. A. Wedler
gave several piano selections
The need of building and loan
associations in Delaware was en-
phasized In all OF bhe addresses and
methods Of financing were outlined
in clear terms. It was pointed out
that banks are not able to finance
home building operations for more
than so per cent. OF the value OF the
property. whereas only about rs per
cent. OF the home buyers are able
TO provide funds sufficient tC
finance their building operations tc
that extent.
The special need Of building and
loan associations in Wilmington
was shown in the fact that more
than half OF the homes In WI
mlngton are rented and only 2S pei
cent. are owned free from encum
brsnces. In many cities the per
centage OF homes owned free from
= encumbrances often is as high al
IS or so per cent.
Mr.. Lnnett. president OF th'
United States League OF Buildinl
and Loan Associations. spoke OF
League Formation and Informa
/ tion." He said in part:
Building and loan association
are Just coming into their own; -
are still in our gwaddling clothes,
robust. pretty. we'll set up kid bu
with much yet to learn, and NOR
to experience; We are gaining ever
day, but we need wise counsel AM
this can best be attained by form
Ing central body through which (
disseminat Information OF al
kinds relating 10 building and loai
interests. Every association need
the assistance which comes througl
contact with the many and a ieagu
translates all this information 70
It's members.
1T Is and must be the concern O
all what each association does; kee
in hne, keep step by keeping in
formed. Every association shoul
join. but don't DO Il in a perfume
, tory manner; take an interest in tn
work; 60 to the league meeting
You may hnd the assistance OF N
league in time OF need OF gres
value. The league properly cor
Quoted will become OF the highei
I, Importance IN protecting the assc
clation from injurious legislatio
and in many other ways for the ir
creased publicity which has come
us will undoubtedly arouse adver'
Interests which will have to J con
batted by united effort.
THE housing situation continue
8 70 concern the authorities at Wasi
ington and they are anxious
searching for a plan that will be
solvent for this very pressing need
continued Mr.. Linnett. AT a col
y ference recently held II was show
= that the shortage in dwellings Wi
still In excess OF a million and th'
to replace these and other stru
4 lures such as factories, public bull
{ lngs, etc, Il would take from twel'
Z to twenty billions OF dollars.
1 Secretary Hoover has said tn
,. the building and loan association
e are the only financial institution
q that are functioning solely TO bui
{ homes and this meaps that with a
e the billions OF wealth in the Unite
e. States the Insignificant building ar
e loan with It's 2 "a billions, which
= has taken over ten years to accum
late, Is looked UP to solve this su
e IN arithmetic and II It can be do
g II must be by calculations so r
s beyond by ken as to put me out
h the running. The real fact OF q
e matter is that our hnanciers. e