San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-10-21
CAN DOUBLE
NUMBER Of
NEW HOMES
Familiarity Of People Witt
Building and Loan Plan
Will Do Ii.
IT TEACHES THRIFT
Associations Lead Way to
Easiest Way Of Build
ing, Says Moon.

IF San Antonians knew as much
about the building and loan plan e
home building as do residents Of New
Orleans the number OF homes con-
structed here every year would no
doubled within another three years"
said A. L. Moon. president of the Mu-
tual Deposit and Loan Association.
Moore building, on his return from 4
weeks business trip there.
Following his trip to New Orleans
and several interviews with heads ce
principal building and loan associa-
tons there, Mr.. Moon says he realizes
now. more than ever before. the value
of associations of this kind to the
country. 4 number of the buildin.
and loan associations OF New Orleans
have Just celebrated their fiftieth an
niverSaries, he reports. and it is en-
couraging to the building and loan
enthusiast to know about the thou
sands of homes constructed there BY
the assaciations. rs well as the services
they have rendered the people in en-
couraging thrift.
1t is said that no failures have been
reported by building and loan associa-
tons in Louisiana during the last ~
years. At present there are about 60
building and loan associations in that
state. The majority of associations
there. says Mr.. Moon, do not charge
membership fees. The majority will
also pay high rate of interest on
savings.
In spite OF the fact that building
and loan associations have been estab-
lished in San Antonio but three years,
says Mr.. Moon, they have made Won
derful progress in establishing them
selves as means through which homes
are constructed satisfactorily and safe
~. as well as in encouraging savings
accounts.
People Should Know Of Plan.
With the wonderful resources here
as well as the city's ability TO attract
capital. says Mr.. Moon. this city will
have accomplished at the end of fiji
teen years, in building and loan ac-
tivity, wonder equivalent to those ac-
complished by Louisiana in % years.
"Thc average San Antonian is un-
familiar with the plans employed by
San Antonio's five building and loan
associations" said Mr.. MoonA land
the fact that they are comparatively
new TO the city accounts for this.
Nevertheless it would be to the
peoples benefit to acQuaint themselves
with the plans, for there is no better
way known to construct home az
well as to save money. 1t is safe to
say that if the people Of San Antoine
knew as much about building and
loan as do people of New Orleans that
this city's yearly home building plan
would be about doubled before the
end of another three years.
There are five building and loan
associations in San Antonio. the first.
which was the Mutual Deposit and
Loan Association, being established
about three years ago. There are ~
building and loan associations IN
Texas.
Law Protects Members.
"The building and losn plan OF
building a home is the safest and TIE
easiest plan known today. Members OF
the associations are protected in MANY
WAYS by state laws, but as far as
safety is concerned. a building and
loan association is just as safe II not
safer than state bank. So far. A
failure of building and loan asSoeia-
ton in Texas has not been reported.
The association allows the longest
period of time in which to repay toe
loan. They furnish the means ov
which the builder is best advised. ana
are also the source of information as
to kinds of construction. insurlns, OF
course. a substaNial home.
"A we'll managed association OF IN
kind is the safest and best place 10
save money. Under the Texas laws 4
building and loan association IS no.
authorized 10 loan more than 10 ID
of the value of the property, that IS.
the total cost OF the house and lor
when completed. Therefore II becomes
necessary for prospective builder 70
save some money before he begins the
construction of his house. If he has
saved something before he builds and
has finished payins for his lot. the
payments on the house, or the repay
mcnt of the loan 10 the building and
loan association. amounts every month
10 figures equal 10 rent.
Security Is the Best.
"The Mutual pays I per cent on
savings and charges s and q fraction
for loans. The plans OF other aSsocls'
lions are similar 10 this, however.
some others charge as much as 10 per
cent but pay 10 per cent while others
charge and paw amounts between the
ones mentioned.
Money of the building and loan
association is loaned on first mort
cages on improved real estate reeos-
niZed everywhere as the highest form
of security. The securities of the as
sociations are always good. The asSo-
Citations have grown in number AMI
resources until the building snd loan
associations in America are today the
strongest mutual and cooperative sys-
tenn of institutions that the word has
ever known"