SiebenbuÌˆrgisch-Amerikanisches Volksblatt. [volume] (Cleveland, Ohio) 1917-1971, 1950-07-13
inv Answer to Geo. Martini
A Statement Of Facts
By M. A. Schneider.

ing for more mortgage loans.
Messr. Martini and Petri would
have between two and three
weeks to pass on loan. In bank
t takes : or 3 days at the most
1t took exactly 10 days to get the
application of a Branch No. !
member approved for a s5,OOOOO
loan on a $4,000 appraisal and
a 100000 sale price. The majori-
ty of the applications received o
similar treatment. Is that follow
ing our advice Is that CARRYING
out the wishes of the conven-
tons:
Illustration No. ?. In our an
xietv to give good service to the
Central Nerband we started to
call Mr.. Martini at his home, to
give him the address of a proper
tv whenever we could not reach
him at his aftice anymore. APP
parently he did not like that One
dav when | called him at his Of
fee { y, he told me very snappi-
lv and abruptly that if we want.
ed to do business with him we
would have to write him a letter
every time We wanted to submit
the address of property for loan.
He simply refused to take the
address over the telephone and
hung up on me.
Illustration No. 3 When loans
No. 50 and No. 81 were up for
approval. he first refused to ap-
prove them for 6lcc. After we
argued back and forth for while.
he said "Well. they (the borrow
ers) will have to wait unit after
the first of the month ANYHOW, be-
cause we have no money and will
have to wait for the next months 5
collections.' Think of it. the
Central Nerband is bulging with
funds for investments and he said
they had no money. 1t was only
after threatened to report this
TO the convention that the reluct-
antly approved the loans and
gave me the money. Both loans
are up to date in interest, princi-
pal and taxes.
Illustration No, 4. An applica-
ton for a Sl5,5OO.OO loan on a
high class country estate Of a we'll
to do undertaken and member of
Branch No. S3 was first rejected
because it was "a farm and in
general it was too high f,S96T J
Onl V after the strongest interven
ton by Vice Pres. Foisel did
manage to obtain approval This
loan too is up to date in interest
principal and taxes.
Illustration No. 5. Wien loan
No. 81 was ready for disburse-
ment. and we asked for the check
payment of the loan was held up
from the 18th of the month until
after the lst OF the following
month. with the explanation that
during the last week of the month
no checks are being issued in the
Central Nerband office, In order
to avoid having outstanding
checks on the bank statement.
In order TO avoid recurring
arguments | have given instruc.
tions in my own office not to ash
for anv loan disbursement check.
in the last week of the month anc
we have been making various ex
cuses to the costumers. because
naturally we cannot tell them the
real reason.
AS a side remark let me men
ton here that some time ago
personally needed 81 10000 in ;
hurry and decided to borrow i
on my paid up policy from th'
Central Nerband. | went to tn,
trouble of first seeing the fnan
clal secretary OF my branch te
get his approval as required b,
the regulations. but when | asket
Mr.. Martini ior the check, he re
fused to give it to me. 1t was tn
the last week of the month and
was informed very abruptly tina
| would have to wait until afte
the first of the month. | knew
there was no use arguing. So
went to The Cleveland Trust Co
and got the SlOOO.OO at 415rc
though 7 had been Wi1lirc to ma,