The Wilmington morning star. [volume] (Wilmington, N.C.) 1909-1990, 1945-05-21
|E0PLEs' BANK
N NAMES OFFICERS

HlflAO
peoole's Building and Loar
The ss;ation held its seth annual al
ss0s's sshin meeting Friday IN
peHO w., If the Association at
IL Pfil allowing directors were r.
The l tor the ensuing year: N.
slscteo r. = P. H. strunck, Wood u
Foy' T. IJorrv M. Solomon, O. H.
ks1unaa' .e na' j. NJ. Gregg, Louis T.
saOsr1sHTe''F F, Peschau, J. K. Ban
blo0re,, = and Wn. M. Hill.
petnaa a'd; ate after the meeting
Innlea. .ars held a meeting and
bs d III the following officers: Q:
: s t;ost Siee president st Z. :: H:
rog, III. MS second vice president;
srunchh' Hill. secretary-treasurer;
Fm. NJ NJ B 3 assistant secretary;
Lena NJ W Y Maroon, assistant to
James s!.rv ": Woodus Kellum, G.
,se !,sS humphrey, and VIM B.
y. amrnbell. attorneys.
ca amp REPORT of N. L. Foy' vice
Inc .tp is given in parts:
pr ssia1lsough the past year has
Al. .rsrfically no new home
Fse mo and restricted real es-
b'i market, it is nevertheless tS a,a'7st
i'a. s to state that the amount
tal Iasn term real estate home
iOi'g made by your association
! osi, the past year amounted to
e s,a 7es 90 %. The assets of your
W' oistion increased during the
s ~, from s2,274, 4os.58 to 81, 68s,-
i, sa1 10 ll Or an increase of $780,
ss @' ~ The total amount Of money
s y,yl; by its members in the as
n Is;stion during the year amount
y ~ s9l29s3.82. In addition to
y. u hans made its members of
"a. AZ 1881; 49, %, your association j. in
, .'t. ain in government bonds the
co., II s425. 10000. The present
s nn Of government bonds own
y ilJ nv the association is $1,o11,-
''" "The dividends paid its saving
nsmbers have been temporarily
,sd,ced to two per cent per an.
rrm due to the large holding OF
r o bonds and a restrlc-
tin in loan volume below normal.
I'll, dividend rate will be adjust
d upward when conditions re-
nm IN normal. The association
&c changed from the installment
Man Of lending to the direct re-
tuction plan.
"The market value of real es-
t.te has fuctuated widely during
The past four or five war years.
Your association has shown a
constant and steady increase in as
[ets and membership throughout
k5e years, which can only be the
fesult of the service that we feel
I've are rendering to the saver and
Investors and to the home and real
Estate owners Of this community.
Eour association now has 1894
members.
Your association enters its fourth
sear as agent Of the United States
Treasury in the sale Of war bonds
10 the public. Considerable time
S given by the management in this
patriotic duty, and every effort is
made to encourage and promote
THE sale Of war bonds not only
During the war bond drives, but in
The interim in the sale Of Series =
bonds to the public. The associa-
)ion is also an authorized agent for
fhe redemption of war bonds.
The newest and perhaps the most
complete service of all for which
fhe war has called upon your as
Fociation is the making of loans to
Veterans, to start them on the way
70 home ownership. Your secre-
Fary has made a thorough study Of |
fhe procedures in handling these
loans, making several trips to Ra-
Pelgh and elsewhere to become
Pore familiar with all the details |
b the Servicemen's Readjustment |
fct 50 as to render all possible
FeFVlce to returning veterans. AS
consequence your association
Fnade the first G. I. loan in this
ffea' and has made and is in the
process OF making a large number
h these loans to veterans.
In conclusion, I wish to express
Ele sincere thanks of myself and
ka0se Of the other members of the
P0afd' to Mr.. Hill, our secretary.
K N Ou u assistant secretaries, and to
u gu the employees of this associa-
|lu,' Wlthout whose help, good will
MY MY sua'lflng effort SO. much could
~ r, nave been accomplished.
\ Excerpts u:,, from report of William
j. MIL s.ill' secretary and treasurer:
,, NOV that it appears we are re-
,S d,,ia TO normal (and 1 say this
Ins ' y. because with the end
s,s. Of the European phase of the
INV. '1on',nt me returning veterans, of
h. .1s aoWn OF war orders, and
1iI1 s sa lost certainty that Japan
nust =. eeaten within the year-we
norm r, VI necessity be returning to
pcsitjvol,.l !, am most happy to state
|pr ' \ that The Peoples Build
pa,it ; Loan Association is now in
IpiritVa ,, o h financially and
i aco' and with the abundance
basjn ssu,nulated knowledge of the
'heSS, to ha nv,