Smyrna times., 1923-01-10
SYSTEMATIC METHOD SAVING
State League of Building and Loan
Association Receives New Impetus

State League of Building and Loan
Association Receives New Impetus
How citizens of Wilmington and the
state of Delaware are being educated
to see the value and necessity of a sys-
tematic method of saving, is due to
the foresight, combined with the pow5
er to put ideas into practice, of
small group of citizens who have been
led by one of Wilmington's active bus
mess men, Charles Warner. Mr..
Warner is president of the Charles
Warner Company and of the Ameri-
can Lime and Stone Company, which
associated companies constitute one of
the largest producing groups of lime
products and kindred materials in the
East. The progress that Charles
i Warner has made in his private bus
mess is being repeated in the way the
thrift movement is being inaugurated
through building and loan associations
A conference of prominent business
men was called and the situation dis
cussed. Mr.. Warner suggested that a
broad plan be adopted for arousing
| general interest in associations, and /
from this suggestion was evolved the |
Building and Loan Information Bu-
reau, with Mr., Warner as president. |
The purpose of this bureau was not !
alone to start new building organiza-
tions safely, and establish them on a |
sound basis with strong men on their |
directory, but also to stimulate citi-
zens broadly to use both the old and
new associations, whichever was most
convenient. A monthly budget of $400
was raised for expenses, contributed
by public-spirited Wilmington business
men. AS a result of the activities,
nine new loan associations were or
ganized in and around Wilmington
and 1871 new shares were sold. The
old associations also profted from the
stimulus given savings by this method.
One of the old associations sold 1900
, shares on the beginning of new SER
les, whereas, it had never before dis
posed of more than 600. One of the
new associations loaned $4,000 on
real estate mortgages in the first sew
en- months, and the desire to save
through building and loan associations
is spreading in Delaware like a con-
tagion. The next problem was how to
handle the building and loan plan as
a state movement. In answer to this
4 Mr.. Warner and his associates evolved
the Delaware State League of Build
ing and Loan Association" AT a
meeting called in Wilmington 81 of 33
loan associations of the state were
a represented and joined the state lea
e que. This league is planning to ex-
: tend its activities to every town in
e Delaware where there are sufficient
d inhabitants to warrant. Mr.. Warner
d was elected president of the state lea
e que and ws made its representative in
S the National Association of Building
S and Loan Associations. The state
: league plans to exercise the same sug-
l. gestive sunctions that the state bank
S ers' association exercises, providing
: the necessary stimulus and co-opera-
L. tion for all new loan associations.
.s Systematic Saving" is it's slogan.
g In order to arouse enthusiasm through
le out Delaware, the State League of
/ Building and Loan Associations has
set aside the week of January 18 as
: Thrift Week. Governor William d
ID Denny, who is only too willing to CO.
IF operate with all progressive measures
is that will add to the credit of the com.
te monwealth, has agreed to naming il
rs Thrift Week in an official proclama
tion. The state league will hold {
n building and loan convention in vii
IN mington on Monday, Jauary 8, so tha
i'll the seven thrift days may have /;
d. suitable Inauguration. During tina
ne week the board of directors of ever!
as loan association in the state will seel
h to interest new shareholders. Bacl
sc of this movement is the guiding spiri
nd of Charles Warner, one of the hard
al est working men in Delaware. Al
though his duties are arduous as pres
of ident of his two companies, as presi
h dent of the National Lime Association
er and member of the Board of Harbo
n Commissioners of Wilmington (whic
re- is just completing a $3,000,000 marin
of terminal), he has found time to devot
he to cause which will be one of i'm
fits measurable benefit to Wilmington an
ie- Delaware.