South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-18
CONCRETE PLANS
FOR HOUSING OF
CITIZENS MADE
Nj yor Seebirt's Expansion
Committee Discusses Prob
lens at Dinner Meeting.

Continued from page one)
Of this opportunity. some other alive.
alert and fghtng city viii meet il.
II is not enough 20 say that this
company will build and operate the
plants. They cannot add those addi-
tional units unless their men are able
to live here" was his warming He
then pointed 20 the fact that this
Company spends each year in this
city many millions Of dollars in pay
rOlls and supplies. and that IL affords
9 constant stream OF wealth.
! hen Pres't Ersk.ne arose 10
make his statement ne was greeted
with a welcome that was spontane-
ous Very briefly he told of the an
bounced plans Of the company, show
Ing that the automobile business as
. whole, Is the safest in the world
and that the Studebaker company
had been able TO grow when the rest
or the industry had fallen as had
other industries during the period of
Relation.
second Only 20 Ford.
we are now second 90 Ford 10
the value Of our product and we viii
never be lower than second was his
declaration I'VE viii build another
Ford industry in this city"
Then came the practical sugges-
lions as means OF obtaining houses
First was the matter of credits and
loans for building purposes.
Bankers Eugene Miller, Joseph
Nen. G w. Ziegler. c. W Coen and
Rome c. Stephenson told OF their
willingness TO loan money TO those
who would build their own homes.
when Ir stephenson announced
That his banks alone had from a
million TO a million and a half ready
Tor loans of this sort there was a
round OF applause as this evidence
Of faith IN South Bend. its growth
aud its future took on tangible form
Mr. Nen outlined a plan for max
Ing greater use OF money for build
ing which viii be taken up by the
bankers and put into working form
The real estate men represented
by William Happt Fred Keller. W.
A. Bonduram told Of their expert
enCes in building houses and asreed
upon a general policy of eNp%.sion
10 care for those who are NOW de-
s.Tous OF building. The way viii be
smoothed for those who have such
an ambition and any person who be-
Neves p the Citys future and wishe.
10 participate viii be aided and ad-
vised in his Efforts.
Two years ago we advised people
not 20 build as prices We're toe
high. said Christopher FaSsnaCht
head OF the Indiana Lumber Co
Today we are convinced that the
prices are as low as they Will be for
the next uve years and that they
Will probably so hlgher next year
We are urging our friends 10 build ID
Suggest Needed Plan.
Then was suggested the plan
which viii probably obtain the need
co rental houses 20 care for the sur
plus OF those unable TO build and
ow nthe.r own homes.
Owners Of lots. large number Of
which are available. viii bee asked
20 transfer them 10 corporation.
which is not founded for profit 40
an appraised value and 10 accept
second mortgages for them The
necessary funds 20 build 500 houses
very moderate in price. and for rea-
sonable rental. Will 2e raised by the
sale OF first mortgage bonds. prob
abiy outside OF This city thus re-
leasing he banks locally 10 stjmulatt
and assist lu individual building
This plan would meet the urgent
needs OF The situation and assist ir
so-v-re the problem of the continued
growth OF other industries and tbs
building az future units Of the Stude-
bsker plant.
Faith !n south Bend faith IN IL!
future the belief that this city l
o. us way 20 the 10000 class iT
the near future was the Keynote OF
the meeting which was one OF op-
t.mlsu and az plrrose 20 let nothing
stand ir rhe way OF the growth
promised through The fortunate de
velopuent of JOS great Industries
That expansion is to be accom-
pllshed without prodteer.nE and by
the removal Of any obstacles that
might come from sudden booms
The development az outside acrea Sc
is 20 be discouraged and-speCulatlve
NOR sasins OF tEe future frowned
upon by me men who have been en-
listed by Mayor Seeb.rt 20 place this
CITY or Tho map as NOT only the most
prosperous. but as the fastest grow
inE city ~ America.