SiebenbuÌˆrgisch-Amerikanisches Volksblatt. [volume] (Cleveland, Ohio) 1917-1971, 1950-07-06

uOillS any liilllS WHICH may IN any
way harm the interest of you,
Society, we have naturally &C,
ceded to his request and are here
by notifying YOU to that effect
Since the Office had all arrange
ments made. we answered this
letter and told them so. We ask.
ed them therefore, that all Dor,
rowers be notified that all pay
ments on mortgages beginning
with the month of July 1856
should be made at the Contra
Nerband office. This answer tc
their letter must have incitet
the second article in the Nolks
blatt. which we answer as re.
quested by Mr.. Schneider.
You stated that your institu
ton has done mortgage loan anC
real estate work for the Contra
Eerband for the last 26 years ant
that after so many years rela
tionship, YOU have found it neces
sarv to discontinue your service
and that YOU could write a whole
book on the subject. Well, sc
could we' We have no grievance
against anyone. If you feel sorr.
for your hastiness in this matter
please remember it is your owr
arrangement.
In the years 1925 to 1923 YOU,
institution invested about S255..
GOO of Central Nerband funds ir
first mortgages and not S5OO,W
as YOU state.
Your statement given that the
Central \erband made no new
mortgages from the year 1923 tc
1916 5 not true. We did make new
mortgages and you know it.
We always acted on facts o>
the appraisal on granting mort
gage loans. If the location was
an ideal one and the house III
good condition, we could allow
65%o of the appraisal; If the loca.
ton and house were not up tc
first standard, we told them we
were interested in a 500 mort
gage; those that didn't meet thes,
standards, we simply refused
This last point is what we are be
ing critized for 49, because we
did not play ball with the Centra
\erband money.
If Brother George Weber, Ex
President OF Branch | has actua
facts OF any wrong doing bv the
CENTRALLY erband office please give
us those important facts in writ
ing.
In regard to the interest rate
charged on mortgages. we have
always taken the advice of Mr.
Schneider's Office. In the earl,
months of l949 we were told owe
the telephone that the banks an'
other loan institutions wer,
charging interest at the rate o
so and that we should do tn
same. We told them that if tha
was the case, they should us
their own judgment. We wer
very much surprised when w
read the article that it is practi
cally impossible to make Sc
loans on 6OGo appraisal. Thi
was not told to us by Mr.. Schnei
ders Office. We would have glad
ly taken his advice again in tn
matter.
We have been connected wit
Mr.. Schneider's institution TO
the last y years. In the year 1872
when we were offered free spac
in the bank Office to do the Cen
tral \erband business, we ac
cepted. DO not let anyone te
you that the space occupied b
the Central Nerband was give
entirely free! Your Grand Secrt
tary attended to the institution
business in the Office while NJ,
Schneider wandered around O
personal affairs and for the ban
during banking hours.
We have no quarrel with tn
institution and are not doing any
thing to harm it's interest. w
are not even feuding with two {
it's officers, but believe YOU m,
we are not going to let them pus
us around.
1t would be of greatest interes
to lot of us to know why yo