Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-15
new TAX SOURCES
WILL Be SOUGHT
Virginia Loan Association
Group to Ask Relief
for Realty.

special Dispatch 70 The Star.
ALEXANDRIA, Va, May 15.-A tax
relief program to bring about a more
equitable distribution Of the cost of
county and city government, to be SUBJ
mitted to the general assembly in 1882,
was favored in resolution adopted by
the conference of building and loan
associations Of Virginia here today.
The resolution was prepared by w. C.
Pender Of Norfolk, Va, chairman of
the committee. and followed the speech
Of State Senator Jonn A. Lesner also
of Norfolk, who made plea for fair
and equitable" system, which, he as
serted, should bring a reduction In real
estate taxes Of from 80 to 40 per cent.
Must Develop New Sources.
New sources Of taxation will have to
be developed to furnish the funds lost
through the proposed reduction In the
taxes on real estate, it was indicated by
Senator Lesner.
appointment Of q special committee
TO cooperate with other. organizations
was authorized by the president of the
association, to formulate plans whereby
each association may advance the study
and development of the program.
Endorsement was given the World
Court protocol transmitted to the Sen
ate last year by President Hoover in
another resolution adopted. In the
resolution the efforts of Senator Claude
Swanson Of Virginia, who initiated the
movement, were praised.
The Legislative Committee Of the
league will formulate o series Of bills
to be presented to the General Assem-
bly,. whica viii be designed to throw
safeguards around building and loan
associations to protect the interests Of
the members and give the associations
the same standing as banks, with regu-
lar auditS and examinations.
A resolution OF regret on the death
Of Horace F. Clark of Texas, charac-
terized as perhaps the most outstand-
ing exponent Of the modern education
nj work In the building and loan asso-
citation field, was adopted.
Officers Reelected.
The present officers Of the association
were reelected. State Senator John
A. Lesner Of Norfolk Is president, W. T.
Gravely Of Danville f1rst vice president,
j. II. Randolph of Richmond second
vice president, B. D. Boteler Of RoSslyn
third vice president, j. Newton Gordon
of Lynchburg secretary, George e.
Conner of Bristol treasurer and o. L.
Ehewmake Of Richmond counsel.
The BENEFITS of city planning to home
owners and building and loan associa-
tons was stressed by Lieut.. Col. U. s.
Grant, Sd, executive ofncer Of the Ma
tional Capital Park and Planning Com
mission.
This year viii reward genuine re-
sources, Chester Leasure Of the Wash
ington, D. c., Chamber Of Commerce
told the delegates at q banquet last
night.
Today w. C. Pender Of Norfolk, speak
ing on what is o Building Associa-
tion?" stressed the importance Of thrift
and savings and urged officers and d.
rectors to devote time to encouraging
home building and ownership and the
adoption Of q more liberal policy. There
are "a building and lean associations in
Virginia, with resources Of $4,000. 900,
he said. .
Communism His Subject.
Home owners are the real boys back
in the trenches to f1ght inroadS Of Com
munism, Dan s. Hollenga, business
manager Of the Alexandria Chamber Of
Commerce, told the delegates In an adj
dress made at the luncheon meeting
yesterday afternoon.
r. H. Fleet Of Richmond yesterday
told the delegates that with bank fall
ures involving $685.. 900, only one build
ing and loan association has failed. In
days Of depression, he said, people ask
why building and loan associations con-
tinued to make a success. This, he
continued. Is because home love Is next
to mother love.
The convention viii adjourn after the
luncheon meeting this afternoon. At
this meeting the results Of the cup con-
test will be announced and the 1882
convention city selected.