New Britain herald., 1930-05-08
W. J. Rawlings Elected President
 State Building and Loan Assn.;
 R.C. Clapp Named As Treasurer

be in NQuldared form. An assoCia- ton should endaavor 10 develop its business along the lines Of larger successful institutions, or. in other . 7ords, there should be q greater standardization in our industry. The nanaEemcDt Of an association should consist ot officers and direc- tors who have a keen sense of their sspQrgcllry 10 the mem bers of the '-ert4tior management which combines. 0ot only faNorable man etaI results. but $ smooth running machine >aHs1o7 and well served Hrr". 1e-s. a happy, efficient and pro E~o,>fe personnel and above all, a ..agrr~h5Q that 01I porpe'uata itself.
 "I haze rndaaNored 70 tell you Sc~r=rH'7- ot 1he progress Of one N-f'dr0- and loan association but ..' -s palsa for s moment and ask ourselves that searcrInS question. Where are we gong from here?' Probationary changes are taking rIaeo n tne business world, chain stores mass produeuon. machines. motor cars. radios. movies. all these things ara Dlay1- d big part in hanging the conditions Of today Mans msn1 has now become ac- 0usroued 10 change. and n every day he he thinks little of the intro duyro7 Of some nev product Ad- NertislnE has taught him 70 buy and make par. of hls scheme of liNnE a7 amazing cataloc o' necessities rom forts and 1uxu-tes. He has grown to expect service
 As the American standard Of living IS changing each day, and as competition in OUT particular indus . fry IS becoming keener. 1t is neces- s3ry that We check ID on ourselves. n order that VIC may determine how We stand in the eyes Of those whom Ue serve.
 There is an old maxim. 'prece- dent makes laW-he nho stands well stands still. That old maxim must have become obsolete many years ago. Surely lt IS not the motto CT guiding principle ot any properly managed institution that exists to- day. ~hether ic h. building and loan bank or transportation com 7any. We have changed with the tunes. We arc public service in stiruuon. and must continued to change our methods Of doing husj- ness as conditions demand, ln order 10 better serve rhe public
 The future holds bright promise .Or the building and loans f they prove themselves adaptable Q the ! changing conditions Of life ia this country. and maintain. at the same tma. tho principle "hlon they know. through long experience. IS safe."
 Report of Secretary
 The report ot Secretary William H. Skinner. who vas reelected, was. lu par. as eollors.
 Eleven years ago. Nay lwh. 1tr9 [ o he exact. ue held the seventh an- nual meeting ot thls league in tho Y. NJ. (. A building in this city, and several O. us present here today will recall what | rainy day T vas. Our meeting vas thoroughly enJoy- d nev5rthcioss. and OUT mind goes back Q tho wonderful chicken din- ncr which vas yertzd 70 Us by thu ladies O this eomm11IfE, rlght .a tre same t4Ilt1nE
 "Thcra were a thai r.n-a -t asso- cations Ir the state No7 after all the intervening wars 7e boast O. 45 associations with assets O - million dollars. a- increase ove- las, rear Of two million. and a member ship Of 4tlo9 which Is q gam uf -0oo.
 The io1S prevailing st~lrge7cg n the money market. and taa temp . ing lures O. quickly rising stock market last fall caused many with drawals from building and loan as- soclauons as well as all other hnaU- clal institutions. This uas an un- usual experience but t was damor- s-rated beyond doubt that building and loan associations were alert to meet this financial disturbance which believe made friends for our associations D. the promotness win which withdrawals were COnsumHat- cd. While t1ls did retard our loan ing of money somewhat. vc are now back 70 more settled conditions with Pros7e-tz of handling martzag loans ID our Narous communulc. with more promptness. l. is worthy Of note 10 mention that some asso- elsIors ln our state have q war.n, .'S' for mortgage Iosn~ on noms n hlch Fllt require several months u lOusuIumato.
 Building and loan assoclaliou- are now a9 years old in this cour- ! fry as r. nas in Franaford Ph5fadel- phIa ln 1851 that the first one Va organized as 9 terminating sssori- atio0. When their shares matured which took from ten 10 twelve year. the association went out Of business. the members having accumulated 'he'r purpose. but ln inc mean time other associations had been organ. rcd m Brooklyn. \. Y. and else where which were more on the pl3o of the present dar association and tHr. continued ,0 force. As time went On associations were organized in all parts Of the country SO nov. 7e have over l3.ooG Of them with assets Of over eight billion dollars and membership over twelve mil lion.
 Tt ts impossible 10 comprehend the vast amount Of good these asso- clauons have done and are doing in their respective communtN It ma seem incredible but there are many people in communities where assocr. attons have long been established who do not even know what d builI- Ing and loan association is.
 While VIC do not do a general |