Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-08-15

1nCluQlng lou from CIedL bIIGdlIl.
The British are spending a larger
part Of their incomes on their homes
than ever before and building ma
ferials In the United Kingdom are still
in such demand that some manufac-
turers are better off than before the
depression, the congress was told by
James Brace. English delegate He
added that there is a noticeable IN
crease in his country in houses for
single occupancy and that town plan
ming and better building design are
civic movements.
Five-FoId Investment Increase.
He reported that there had been a
five-fold increase in investments IN
building societies in England since the
close Of the World War. Increases in
other types of savings institutions, ne
said, have been larger than 90 per
cent of their pre-war totals.
Discussing trends In England: ne
said: The increased use OF building
societies as a means OF investment mas
assisted to A considerable extent the
Srnnet1,s given to redistribution OF
wealth by postwar legislation. MOI
cnIy have the working classes had their
standard of living materially Increased
nv social legislation. but they nave
Ieen made to realize that by investing
in building societies they are IN 3
T1ositior, ia obtain a larger share OF
the annual income of the country.
Seek to Tighten Tax.
r. Hobby Myers, president Of the
limited States Building and Loan League.
urged that special consideration pc
given by home finance leaders tLlIo Nas.-
mt the country to the movement SEEK
Ing to tighten the tax burden on small
home owners.
The strength of real estate has been
n stahilizinq factor In this country
during the past two years, Harry ..
Kiseeil. president of the National AS
ISOLATION of Real Estate Boards. told
the home financiers He contenoeo
that If owners Of certain distressed
Same losses that other investment
owners took in the past two years. II Is
questionable If real estate would not
have proved just as liquid as other
investments.
Message From Macdonald.
A message was brought to the con-
yention from J. Ramsay Macdonald
urine minister of Great Britain, by
John Fox, official British government
delegate. Referring to the solution Of
IOQ&lAlR shortage Ii ~1AEeAN eA%tSN
the war. the message said: mo agency
has contributed more to this great re-
suit than the building societies. From
1919 to the beginning Of the present
year. British societies advanced on
mortgage a total OF f536. 900 900. This
colossal sum has been devoted almost
exclusively to the purchase Of homes
for British families, which must have
added immeasurabiy TO the happiness
OF the British people"
Sir En0ch Hill, president OF the HAN
fax Building Society. worlds largest
cooperative home financing institution,
reported that the only public organiza-
tons in England to improve during the
past year were the building societies.
They made In 1880 the record increase
of their $50 years existence, the gain
IN assets over 1929 being l85 per cent.
Campbell Praises Movement
Representative Guy E. Campbell OF
Pennsylvania. in praising the building
and loan movement as an aid to home
ownership. said
Cooperation Is the great solution
FOR any troublesome problem or for
any great constructive enterprise The
unprecedented success OF the building
and loan associations conducted under
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