Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1922-01-19
MANY HOMES
BUILT IN 1921
Ohioans With Good Construction
Record For Last Year Will
Celebrate "H0me-9 Owning
Day" During Thrift Week.
PUBLIC SAVING MONEY NOW

Most Home Financing Done Through
Building, Loan and Savings Com
panies, Whose Depositors Have
Not Lost Single Penny During
the Last 18 Years - Benjamin
FrankIIn's Birthday Will Find
ohioans Practicing His Doctrine
of Economy.
Columbus, o. Especially -Ohioans
can truly celebrate Homecoming
Day" this year, inasmuch as they built
six times as many homes during 1921
as they did the previous year. Home
Owning Day" has been observed for
the last few years in connection with
the observance of Thrift Week."
which has become a period of national
celebration throughout the United
States during the latter part of Jan.
uary.
Ohio is the second greatest home
owning state in the United States. One
of her largest cities, Toledo, is the
greatest homecoming city of any of
the 80 largest cities in the country.
More than one-half the homes owned
in Ohio are unencumbered.
The best investment any man can
make is to own his own home, accord.
ing to financiers. Every man who can
possibly do SO should get busy right
now to reach this goal, these author
tiles advise. Ownership of even
modest plot of ground and an equally
modest home makes you feel that you
are "a part owner Of the United
States" according to many home
owners.
How Homes Are Built.
Homecoming in Ohio is financed al
most entirely by building, loan and
savings institutions. There are more
than 100 such institutions in the state,
with combined assets of $545, $685. ,211.
Despite the magnitude of their opera
tions, not single depositor has lost a
penny Of his money in any of these
institutions during the last 18 years.
Last year more than one million Ohio
ans were patrons of building and loan
institutions. Building, loan and saw
ings institutions are, primarily, legal
ly safeguarded financial institutions.
from which the laws Of Ohio undertake
to eliminate all possible speculative
features. They are controlled by a
splendid code of laws first enacted
about 1892. There is legally estab-
lished Building and Loan State De-
partment, with corps of capable and
expert accountants. This department
examines the sworn annual reports
from all associations and the exam
iners or accountants annually inspect
and audit the books of the associa-
tions The State Superintendent Of
Building and Loan Institutions sees
that the laws relating to these in
stitutions are enforced. The state
recognizes the need for such institu-
tions and secures the savings of the
public by the proper safeguards. Be-
cause OF the real need for such instd-
tutions and the good they do, the
state also exempts them from the
state corporation tax, and for the
same reason the federal government
exempts them from the federal in
come tax, while depositors are ex.
empted on incomes. up to $500. 90, &C.
cruing from building and loan stock
and deposits.
Farmers Also Are Aided.
These institutions seek to estab-
lish fair and equitable relation be-
tween the money saver and the Dor.
rover who offers real estate secur-
ity, paying to the one a fair net in.
come on his money semi-annually
and to the other loaning money at
fair rate of interest on easy terms
OF payment. They accept the pub
lies money in small sums by the
week or month, or in large lump
sums. They are conducted econom-
ically and their patrons get the full
benefit OF their earnings. Therefore
tl-ey pay larger and fairer rate of
income to money savers and in.
v"stors than do banking institutions.
Building and loan funds are loaned
almost exclusively on real estate
AS a result, money placed with build.
irg and loan institutions aids in
building up the home community.
making 1t one of homecoming and
home-loving people. In recent years
these institutions also have given
attention to farm loans, and they
offer unusual advantages to the
farmer in the matter of long time
loans. fair rates and partial pay.
ments. Loans were made to 1855
farmers in Ohio last year.
Hundreds of home owners who
have financed their homes through
building and loan associations are
enthusiastic about saving money in
these institutions, which are oper.
ated for service rather than profit
alone. Such home owners urge those