Evening star., 1934-08-04
1000 TO ATTEND
LEAGUE SESSION
Building and Loan Group
Annual Meeting Set for
October 24-26.

NEW ORLEANS. La. August A.
Preparations are being made hire for
the coming Of 1000 leaders Ia the
home mortgage business from every
STATE when the United States Build
ing and Loan League holds its forty
second annual convention October "a
as and as
Philip LIeber OF Shreveport. presi-
Dent Of the league, reports that dele
cations have already been appointed
By practically all Of the State leagues
and that substantially more than half
Of the 3,T00 local building and loan
associations which are members OF
the United States League will be rep
resented. In addition d these the
Federal Home Loan Banks Of Boston.
Newark, Pittsburgh, winston Salem,
Cincinnati. Indianapolis. Chicago. Des
Moines, Little Rock, Topeka. Los An
Reies and Portland. all Of which are
members Of the league. viii have their
principal officers and majority OF
their directors at the convention
This year for the first time the con-
vention will entertain delegates from
the 400 odd Federal Savings and Loan
associations, chartered during the
past year.
Housing Act Is Topic.
The national housing act Is the big
topic on the program. the discussion
OF which s going TO be q drawing
card for hundreds who never attended
q national convention OF home lenders
before. The machinery now being
whipped into shape for the Federal
Savings and Loan Insurance Corpora
tion will In all probability be COM
pleted by the time Of the gathering
and much Of the program will be de-
voted to the ways and means, pros
and cons. Of insuring the solyency Of
shareholders accounts up to $4,000
under Federal sponsorship. This fea-
ture win give the convention unusual
interest from the public point Of view,
I1eber points out.
The modernization and repair pro-
gram, which ia 10 be undertaken as
the first big job Of the national housing
administrator. viii probably be In full
swing by the time of the gathering"
said Lieber. This portion Of the hous-
ing program has found q most enthusi-
astic reception from building and loan
associations and substantial part OF
the session viii be devoted to the
progress made by the associations in
cooperating with the Government
program and to the further steps
which they must take to make the
most OF their opportunities. With $2,-
000. .000. 900 ready to loan to eligible
home owners within the next 10 or IL
months the association representatives
plan to incubate some forceful plans
for stimulating home-owner borrow
ings and suitable loan demand when
they come together this Fall. A year
ago one Of the prominent speakers
at the National League Convention
predicted that the associations chief
concern q year from then would be
the finding Of suitable outlets for their
funds and the prediction has come
true In no uncertain terms"
0facers VIII Speak.
The speaker list is expected to in
clude several representatives OF official
Washington. Ever since the setting UP
Of the Federal Home Loan Bank system
the Federal Governments concern
with the manner and means Of hna1lc-
ing home owners has been paramount.
The building and loan interests have
worked closely with the board, Lieber
points out, and their 1884 convention
is therefore much concerned with what
such Government officials as the men,
bers of the board, the national housing
administrator, and others OF like high
rank have to say about trends and
policies in the mortgage money
market.
Advertising about to he tackled on
q Nationwide cooperative basis by
the building and loan associations this
Fall for the first time viii be another
topic of prime Importance at the
convention. Individual building and
loan associations are instructing their
delegates to get the lstest business
promotion plans thoroughly learned
and their part in the combined pro-
gram well understood during the three
day session in New Orleans. A repre-
sentative of the advertising agency
handling the campaign IS expected to
be at the convention and keep open
house for all questioners and advice
seekers.