SiebenbuÌˆrgisch-Amerikanisches Volksblatt. [volume] (Cleveland, Ohio) 1917-1971, 1950-07-13
Note: I am publishing this ar
ticle as a paid advertisement,
since | do not want to einbar,
rass the publisher of the Volks-
blatt, or envolve them in the
issues presented here.

| am gratihed to see that my
worthy opponent has taken me
up on my invitation to submit the
issue of Our dispute to the forum
of public opinion.
In the last issue of the Nolks-
blatt Mr.. Martini published an
article making a number OF
charges and accusations against
me which are either total con-
tradiction or distortion of the
actual facts. | shall disregard
the personalities and the angry
tone of his article and in the int
crest OF the cause shall restrict
myself to statement of actual
facts.
In his article he quoted the
biggest part OF my letters to the
Central Nerband giving notice of
cancellation Of our contract. But
he conveniently forgot just one
little thing. He omitted to men,
ton that | had given as the rea-
son for my letter the fact that
during the last convention he and
Mr. Balthes had accused me and
our Assistant Secretary Mae Zed-
nix of not telling the truth.
Mr.. Martini is trying to make
people believe that the only rea-
son why there is only one $50
loan on the Central Nerband
books is because property owners
did not want to borrow any more
and he could not force them to
borrow more that what they need
ed. Any curb stone real estate
man can tell YOU that $50 of the
borrowers today want to borrow
all they can get and they are
shopping around from one bank
to another in order to get the
highest loan. The real reason why
there is only one 65co loan on the
books is that Me>srs. Martini
and Andrew Petri did not want
10 approve loans over 6Or6. The
testimony Of a reliable ond trust.
worthy man like George Weber.
EX-President of Branch No. |. is
absolutely conclusive and should
leave no doubts in the mind OF
anybody. Everyone of the few
loans over 900 we managed to
get in was only approved after a
heated argument. | have repeat
edlv even made personal loans
for several hundred dollars from
funds OF the Home Loan on an
unsecured note. to borrowers OF
the Central Nerband. lust because
the loans approved by Mr.. Mar,
| TIM were not ADEQUATE. and
wanted to save the loan for the
Central \erband. Others we lost
and the very best ones were Gag
crly taken by other lenders. Had
the loans been approved for 65 C
we would not have lost them.
The same thing is true regard,
ing the rate OF interest. Both Miss
Zednik and | have repeatedly in.
formed Mr.. Martini that with 5ct
interest We could not meet the
strong competition OF the large
local banks and other lenders who
are offering millions of dollars
at 4I2fo interest and less. Hi:
answer always was that this rate
and the 6Or6 loan ratio had beer
decided upon by his committee
| The Sc interest rate coupled
with a 6Ono loan ratio was tn,
cause Tor losing the very bes
loans during the last year.
But when | tried to explain thi:
to the convention, he became yer,
angry and i'll an indirect way h,
stated that Miss Zednik and
were not telling the truth If ht
would have admitted like mar
that IN his efforts to be conser
vatlve he possibly may have gon,
a little too far, we could hay.
reached sensible decision. In
stead of that he insulted us. Hi.
assertion that, had we advised
him against the go interest rat,
he would gladly have followed
our advise as he claims he hac
done before, is outright amusing
TO show you how little he ant
Andrew Petri cared about our ad
vice and about cOnscientiousl,
carrying ont the wishes of tht