New Britain herald., 1930-05-08
Willard K. Denton of New York Advises Organiza- tions to Be Progressive as W ell as Safe - Secre- tary Reports 2,OOO Mem- bership Gain.

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 WlAam J. Eav'.r-s tornla- che. Of pohce and president or -ra Nea Britain Cooperative >aurzs and Loan assoc-atEor VAS sla.-at o~ssi- dent of Conre-.r.-. LesE-s Of -c-eI Binding and Loan assoc.a..ors d. Inc 18th annual we"-n- har5 n the Hatch h4HG.0g or Wasa.a-r17 street. ,-sra-1s' er.r--e u rr. elected and repo~'s <-bur.-H
 Invitations 10 hold '-o ~sN- .cg- reoroa at So4tr Nsn-1sv,--. Ia-- DUTY. New Eaee0 and W4#.71to-d 0ere referred 10 .A- rH=c--.,- -oa1- mlrtee.
 The nev officers ar zz touoaz. President. W-lla-7 J EaR.r-s. Nau Britain. first 3iee p~ss6eor Ludwig Mann, Nea London second Vice preslderr- Nsr-- ?. S.-vaba. rhOu pso0H-5le tr.r4 F.c- president. Herhe-- Wake. Harrro-t. .=c-s- rsrE William + Skinner. B-ldre- port. traas1-c-. E. =. g1arn. Nan Britain. aEe-gmv= .omn.t-4-. r. L.. Trowor--c7. HeR Eave-. 4 \ Baker. Ia1a--.. and John L. Barr. Portland
 Al the h4ra4at held a- tha B---.rt hotel lasr evening President Raw lIngs Vls toastmas-er In1ola-.or "as offered rr Rev. William Ross O the F'rsr Bap-st church. A pro- gram Of entertainment preceded [ tew addresses ]. 7as announced that the name o. -He organization had been changed 70 taa gorrect.- cut Birding and Loan League.
 John L, Barr. ot Portland. ~etg~- ing from the preSr5ancy after three years in O-.cs. spoke briefly. stating that there E hardly g home tn th= country which Ioes rot have son- New Britain product I- f.
 Ralph H. Benson. secretary Of the Chamber ot Comm cree. startled the delegates by sts-Ir- that within -ha Eear l53u more money Hjlf be vast ed in the p1rc>ase oe fake advartis- ing and fake stock promotion schemes than tha total deposits Of all the building and loan assocta- lions of the counsrv- H. asked that the association aId n stamping out fake solicitation.
 The address Of the evening n3s delivered by Willard K. Denton Of New York president and treasurer Of the Railroad Cooperative Build- lng and Loan assoll4tlon Of that city.
 He gaId n Par,
 'Cornecucut building and loan Ak soclarlons have long enfoved 2 n7- tton-wide reputation for their ysfe+v and their conservatism. but in addf- ton 10 being safe and conserva,lv. building and loan associations must be more progressive.
 Tt IS my honor TO be an officer Of the second larges, building and loan assoCIatIon in the Unred States Because ! must admit Ina. | know but little abolr tha Connecr!cut as soclauons and thelr problems. I am going 10 follow Mayor Walkers a9- vice and speak on z. subject ! am familiar '-ith-rv onn association. The Railroad Building and Loan or New York. Durlrg the past ta7 years. this insrt4-on has made wor- derful progress n The cultivation 0- thrift and home ownership. Suo7 progress has. or course. required many changes in methods of doing business, so tonight I am going 10 tell you some or the Railroads ex- perlences. with the hope that ! may reveal suggestions which o-,71+ prove interesting 10 the Officers an directors Of you- own progressive institutions
 The Railroad Building and Loan vas organized forty years ago IT started on its career like most other associations. T. held meetings twice each month. jn some r9akeshrf. oe- nee, al which time. the business was quickly and easily handled by is altruIstic officers and directors.
 D to the tune or the War +1,- growth Of the Railroad. and in f4c+ Of all building and loan aseon74t.ooe in the United States vas slow and healtnN nlth but few minor f-,er. ruptions. Sl0ee tna var and Tn 10 the present tImr their growth ra~ been exceedingly rapid. as shown bv the fact that the total resources o.+ these institutions have increased qa1. per cent In this same perlo4 n. tune, the resources Of the PafI-o.1 BuIdlng and Loan grep from 3a 60fooo 10 S63.0o1 900. an f,creay. or 25l5 per cent. This unparsIIelad growth was the direct result oe tr.. housing shortage caused by the var The building boom. which followed offered an opportunity for our ,oet,- tutions 0 demonstrate r1ar- ,,,.. value. How well thoy hs-a don this, is shown by the fact that o,-,~ 70 per cent of the homes built in the United States slrce the war hay. been financed by building and loan associations.
 Because T know yo1 arc inter ested in making bigger and -e++a- associations. I am gong to zr,r, gr. few impressions gained from +he Railroad Building and Loans nbe. nomenal gro2th.
 .Ihe Directors Of 9 small assocIs- ton should exercise great care in the selection cf its secretary as inc growth Of the association will da- pend great deal upon this eolec- ton. An association should secure its own offices as early as possible. Building and Loan associations should, at an early date. eliminate the charging or fece. fines. forfei- lures and any other practices which are a barrier 10 progress. The board