PAGE TEN
Hpoe««y Meeting of Bt&iing
■ aild Lean League Expected
lo the 23rd aumial meet
the North Carol’na League o.
hHßbcsl Building uud Loan ussooia
la on in Conconi this week, with
pointing toward the most
ami largely attended gath
in the“successful history of tlu
affects more honn
than. any institution in the
■K.The program is more than ambitious
should result in a heavy and in-
attendance, for among the
who will address the gath
Hut are m«n of state wide note and
reputation in the building
loan wofld.
eonvsntion sessions will ex-
over three days, with lieadquar-
at Hotef Concord, one of the fin
■ est mos{ modern hostelries in the!
The* meeting will be opened
afternoon. June 22nd, at 2
wit| the concluding session I
for Thursday morning.
HHMktares jf the convention that are
Hf t commanding and outstanding na
kik will inrlode addresses by Stacy
■ \V, Wade, of Raleigh, state fire insur-l
■«nv commissioner ; Dr. Horace Clark,
■w Kansas £ity. Mo., educational di-
Hkeetor of thtoAmerican Savings. Build-
and Lo#n League, and Henry S.
cl Cincinnati. ().. iniblish-
Hyr of the American Building Associa-
HpiOa News, she latter two being honor
■guests of th*- convention.
■( Mr. Wad* will use as tiis subject,
Buiidihg and Loan Association
■ij Fotrce for jHvic Progress."
■HI,The real feature of the convention.
\v#i be the address of C.
.Tam|s, of Washington. I>. C..
of Jhe United States league.
an authorit» on building loan and a
■gpeakcr of Atraordinary ability. Thej
of Jtr. James on the meeting
Hit expected te prove a big factor in at-
debates to the convention.
his is 4 message all will want to
■ Slessrs. Chirk. James and Rosen
■thal are all programmed for Wednrs
the second day of the meeting.
■ which will givv delegates arriving late
■P those njfligod to leave early an
Or hearing these men.
IgHpj&ftinVenting visitors will be weleom-
to the city by L. T. Hartsell, of
ar\d the response will be
voiced by Charles A. Hines, of
V. H. Barrier, mayor of
is also on the program for a
■K address on the opening day.
Address of the president. .1. F. Stev-
H*eilS. of Greensboro, and report of the
O. K. Todd, of
will be features of tho
opening session. The
is expected to bring a mes
of hope and a tale of duty well
while she report of the secretary-
will show the league to he
■WHAT do we spend for rent?
i i
■ « BY EL WOOD LLOYD,
' F.nancial Editor Los Angeles Evening Herald.
Hp.jßome youlig friends of mine nave
■just moved into the city. They ha<«.
given up a oozy little cottage, ail their
■ own. ii|> in rite foot ill! is. for an apurt-
downtftwn. The cottage ha I a
large living room, with a
ga*. water, electricity, sew
■*r« and room for the i,,,i
Hos guests. The apartnn nt is a one-
K*oom. kitchenette and hath affair -
■|*»feHts can be accommodate.! at a ue.ar
■ by hotel.
rent .paid for the ••nttage—
was within easy comn uting <l's-
HPkce Os the city • was s.'!o per tenth.
■5-The rent of apartment is S6O.
■jj Without ■diseti-sing the atlvisaiul
tty of tile Change my young friends
■ have made—-for each young couple is |
to . decide for themselves
■fcfekere they warn to live—we raised
one question. Was the change
■jjkorth a casft loss „f $474..T0 a year;
H|/ Tiie increase of s3<t per month rent
have been very well directed
to some good investment. If litis
weqc handled propr -' \ n
could he inadeTtn pay 6 per cent.. 1 ini
sertii-ahnually. Thirty
Jars a montji on tiiis basis sot ..... i
■ ritwl of 10 years would amount to si.-
■ 745.04. 1
■K onesjtion naturally leads to a
■pomisidcrntiou 0/ rents—and just
where rent leads 11s. i.cr us sec what
Bgetually ImjJj.ens when we pay rent]
■ for the places in which we live
■ We pay rent for a period]
of ten yearT If the amount each ]
HMMnth i» our actual outlay ini
plus tiie earning power of that:
■pMfa. would* be 50.04(1.20, At S2O a]
BxiMHith the result is $4,745.04. A" SSO ]
El motif I, ww have ]»a : d for shelter an 1
* fund <*f $7,880.40. If!
monthlf rental is $75. tiie total j
sll,B2o.(jjD. But if we actually j
ont” Hud pay a rental of $100;
timej a year, we have helped!
landlord to the tune of $15,700.-
80. •
IIK Add another ten years to the rent I
*
Blew York’s 15,000 Young Motorists
|H; To Be Barred From Driving in Cities
I * —■ —-
(Bjr InteAhtional News Service.)
MHSbheny, June 21. —New York has
Ba problem 4111 its hands because of
Bl fact that 15,000 persons under
of age have been granted
to “operate motor vehicles in
last year.
H HBm junior operators' license law
HMiMf passed* by the 1024 Legislature.
|Hnier its, provisions, the State
Vehicle Bureau was permit
-111 to license boys and girls under
JrHlittben tiie Stale motor vehicle taw
g Wm» revised* two yeans ago it was
wiginaf intention of the low
■prohibit every person un
• operating a car. Strong
1* voiced by the farmers
the State, who argued
sons and daughters, un
in splendid financial condition, and
building and loan making unbefieva
able progress throughout the state.
Although convention delegates "will
devote the greater part of the three
days to the transaction ‘of business
that is of vital importance to the
thousands of home owners throughout
North Carolina, thdy will find time for
a bit of diversion, and the commit
tee on arrangements will see that alt
delegates are made to enjoy them- :
selves while in Concord.
Included among the entertainment
features planned will be a water cur
nival, at the Y. M. C. A. on the eve-]
ning of the opening day, followed by j
a theatre party at S:3() o'clock. Spec-i
ial program htfs been arranged in this ]
instance for the benefit and pleasure
of the delegates at the Conconi Thea
tre. A special picture "Life's Collat
eral" will be shown, which is a spec
ial building and loan p : cture.
Wednesday afternoon Kannapolis
will be visited and delegates given
the opportunity of visiting the hug
est towel mill in the world. Tiie party
#ill continue from there to Jackson
Training School, where a program
will be put on for their benefit by the
boys at the school. This alone should j
be worth much Inconvenience to wit-1
ness. Wednesday will be concluded {
with a dance at the Merchants and)
Manufacturers Club.
Thursday will be devoted excltts-'
ively to the transaction of business, j
with adjournment coming sufficiently ]
early in the day to enable all to get an
early start on the homeward trip.
Election of officers and selection of
next year's convention city will be I
the principal matters of business com
ing before the convention at its clos-
I ing session.
Officers of the league are: J. F.
Stevens. Greensboro, president; W.
Ben Goodwin, Elizabeth City, first
j vice-president; Gilbert Hendrix. Con- i
cord, second vice-president: O. E.
Todd. Wilmington, secretary-treasur
er.
District presidents: John B. Spar
row. Washington; R. B. Davis. ( >f
Rocky Mount; J. G. Dunn, New
Bern; J. 11. Robeson. Italcgh: Leon
Cash, Winston-Salem: Thomas 11.
Wright. Wilmington: A. G. Corpen
ing. Rockingham: Frank R. Brown.
Salisbury; E. Y. Keesler, Charlotte:
O. H. Let l . Hendersonville.
Executive Committee: J. F. Stev
ens. president; W. Ben Goodwin, first
vice-president; Gilbert Hendrix, sec
ond vice-president: O. E. Todd, secre
tary-treasurer : E. F. Allen and J.
H. Wearn.
Legislative committee: Charles
Brenizer, of Charlotte, chairman; W.
E. Sharp, Burlington: J. C. Allison.
Raleigh: L. TV. Moore. Wilmington,
and George R. Wooten, Hickory.
paying habit and these totals take a
tremendous jump upward. Here Is
the way it actually figures out: Rent
$25 a month equals $11,035.(15. At.
S3O the total is $13,242.78. Fifty
dollars each month makes $22,071.30.
For $75 worth of shelter we have
spent $33,106.05. At SIOO the big
total is $44,142.00.
Now let us have a real shock! If
we continue to pay rent for 30 years,
nt the same figures, we have this
schedule of costs confronting us:
Twenty-five dollars equals $23,171.40;
S3O amounts to $28.400.K5: SSO totals
$46,342.80: $75 figures out $60,514.-
20: SIOO each month staggers us by
totaling $02,685.60.
These seem to be rather gigantic
pvees just to bo paying for keeping
tiie rain ami sun off our possessions—
particularly in view of the fact that
at the end of time someone else still
owns our home.
Really it seems rather a foolish sort
of tiling to he doing, particularly in
view of the fact that a large number
of organizations exist in this state
j f'* l ' t h<- very purpose of making nuoli
unW'se expenditures unnecessary. I
refer to the many excellent, building
and Plan associations.
A letter addressed to the building
and loan commission of California.
Sacramento, will bring a list of all
] the associations, their several capital
j izntions and other information relat-
I ing to them. The chapter devoted to
I the building and loan associations, in
j the civil code of California, will give
■ the various laws, plans, rates, charges,
1 options, etc., of the associations list-
I ed.
j No matter what rate is charged on
! a monthly payment home-buying loan,
j so long as it is cheaper than rent and
j within the ustfry laws (12 per cent,
i per annum), it will pay the home
I builder to borrow. One has to pay
rent to soqie one—why not to one's
self?—and at the end of ten or eleven
I years own the home.
der 18, should he permitted to drive
cars in order tp help them on tlje
farm. As a result the junior opera
tor's license was devised
_ Charles A. Harnett, State Motor
Vehicle Commissioner, has been keep
ing a carefnl check on the accidents
in which holders of the junior
license were involved. Harnett has
found that 10 per cent of all acci
dents in which persons under 18
were involved, ■ resulted in death. He
, found that .the greatest number of
accidents involving persons under 18
occurred in cities.
“The analysts snows that the]
junior operator hi more inclined tol
be reckless than the older driver, or,
lacks the faculty of proper thinking I
when an emergency arises,” Com
missioner Harnett said. 1
}
H. I. WOODHOLSE
Secretary aDd Treasurer of 'Concord
Perpetual Buikiing and Loan As
sociation
m *-# jpi^
BAI QI ET TOASTMASTER
]>i\ T. X. Spencer, who will be]
toastmaster at the banquet to be given I
Wednesday evening for delegates at
tending the convent on of the North j
Carolina Bunding and Letigire. t
As Secretary of the Chamber of Com- ]
mercc. I>r. Spencer has been one of j
the most active workers in arranging <
the fine program for the visitors.
<J ;
CHARLES A. HINES |
Mr. Hines is one of the best known '
bnilding and loan men in the State. {
Fie is here attending the annual meet- (
ing of the North Carolina League. j
. yr «• y
']sK W ■">
J. M. HENDRIX
Seeretnry and Treasurer Cabarrus
County Building Loan and Sav
ings /Association
■
| N
1 HON. L. T. HARTSELL
THE CONCORO . bAILY TRIBUNE .
JEyflH
MAYOR C. H. BARRIER
Mayor Barrier was one of the speak
representing the City of Concord, to
welcome delegates of the building and
loau league to this city.
mam*
JH
SPEAKS AT LiIELVGVE
N. Mitchell, of Winston-Salem, will
N. Mitchell, of Winston-Salem, will
lca<l the discussion at one of the ses
sions of the convention of the build-,
iug and loau men at Hotel Concord.
|, i S
J. BAILEY ROBESON
of Raleigh
A. F. GOODMAN
Secretary and Treasurer of Citizens
Building and I man Association
HOME-COMING DAY
To Be Observer at the Kannapolis
Wesleyan Methodist Church, July
4th.
A Home-Coming Day will be ob
served at the Kannapolis Wesleyan
j Methodist Church on Sunday. July 4. ■
I The following will be the program:
10:15 A. M. —Song and Praise Ser
vice—Rev. K. A. Weaver. Bessemer
City, N_C. ■
10:45 A. M.—Brief History of the
Origin and Work of the Kannapolis
Church—Mrs. Sadie Gunter.
11:00 A. M.—Preaching by Rev. A.
F. Connor, Spartanburg, S. C., (for
mer pastor).
12:30 to I:Bo—lJinner on the
ground.
2:00 P. M.—Special Service in
charge of Rev. T. L. Setter, Rev. R.
A. Weaver and others.
3:30 P. M.—Old Fashioned "Meth
odist Is>ve Feast."
7:00 P. M.—Congregational Sing
ing of the Older Hymns.
7:30 P. M.—Evangelistic Service,
by Rev. J. A. Clement, President of
the N. C. Conference Wesleyan Meth
od : st Church.
Afl members, former members, for
mer pastors, and friends of the church
are invited. Let every one bring a
well filled basket and enjoy this day
of good things with us.
J. C. POOLE,
J. J*. PROFFIT.
MRS. M. E. POOLE,
MRS. SADIE GUNTER,
Committee.
Critic—You’ll never hake your name 1
inscribed in th,e HaH Of.Fodfe- [
Author—Maybe not, but'l'd sooner
have people making why it isn’t there,
than asking Why it it.
The Buildhlg >*d Loan Association's
Bnty.
Vax E. Cook in Architect and Engi
neer
I know of Bo financial Institution
in a better position to assist the heme
builder, or who has a more import- 1
*nt s nice to render than the build-!
I (i «1 loan association. Self-in-.
Criminating or otherwise. I know of no]
other institution of equal size that ial
I so little understood by the public.
! One reason there are not more fam
ilies attempting to build or own their]
own homes, is because of the lack of '
knowledge of how to proceed, or the
fear make the attempt because of j
this deficiency. The farm to ]
whom a home means everything, is #l-1
most entirely overlooked. Home, he^e.j
a v tal controlling factor in the very j
HR thisrCoiir basic industry.
I think the building and loan asso
ciations should assume more respon-;
> silulity. and adopt more initiative in j
1 leading the way; in disseminating :*e-j
’lifjblh iufonnation on safe and sand
. construction. They should
defirfltply disrriminalo against infer-!
of material and workman
ship, and recognize and demand (*unl-|
sty and value.
To a greater extent they should
sponsor and show interest in good
(tewgn and construction, offer consul
tation to prospective builders, and |
make available to them a much need
ed and more valuable guidance in ob-
I taining cpiaUflcd assistance.
Tin- man with the savings habit is
the one who never gets laid off ; he‘s
the one who can get along without
you. but you can not get along without
him. The savings habit means sound
sleep, good digestion, cool judgment,
and independence. The most health
ful th'ng I know is a savings account
book—there arc no microbes in it to
steal away your peace of mind.—El
bert Hubbard.
A savings account is like an old
fashiomd quilt. It is something worth
. while—substantially made up of little
odds and ends which in themselves
did not amount to much.
A home pays daily dividoiujs in
happiness, contentment nnd comfort,
" dividends that cannot bo measured by,
the dollar standard.
I distinctive convenient homes..
Tb,y cost no more, deteriorate less
. and bring a higher price if vou de
cide to sell.
* ./Home says: “I will make for you
independence and happiness, for J jun
the fulfillment of heart’s inborn de
atre.”
A home with playgrounds, flowers
and sunshine is the birthright of every
child.
That man* is little to be envied who
satisfies himself in a rented house.
Assure the future happiness of your
self and lored ones by owning a home
oftvour own.
| aL Iconic js the greatest assurance I
that this world lias ‘Jjp'l
—— : —i " T , / , . ~ '
— *
A NATION-WIDE ft reliable
I|l | g institution- I 1 QUAUTY J
iJ(jP enne yUi
«GAN,z*no« Jk department STORES
50-54 SOUTH UNION STREET, CONCORD, N. C.
Welcome Building and Loan Men
We hope you are enjoying your stay at our New Hotel Concord
nif-vKy Mo«m; Clay?ng the Game
No Loßfer Exclusive With Books Opened
The farther away you get Whin the game of fife b I
from one J. C. Penney Com- p i aye d Jn the open no one need
ptny Store the nearer you excluded; when behind
get to another. Our hua- , lose<l doors the public should
dreds of Stores bring a beware,
country-wide advantage al
most to your own door. In the great game of retail
Without our great family of * busipess there need be no se^
National Stores many of the irets. Each step should be a#
enjoyments that your big- tn open book that people can
by their plans with certainty
.would be denied to ind provide themselves confi-
Our large and <ent of ** ult!n “ te result
traying power and the dis- e, - ,
tribution which our StOTei Service must be hooked up
give, enable people even w,th Q uaht >' and Value and the
the most remote tq merchant prepared to assume
enjoy the new things and [■■BSHiHEBEHRB] fullest responsibility,
the stylish things at tht -
time they ere introduced h . ~ We stand sponsor for ths
Chicago, and at prices Whicj , tcome “ eTery
are comparatively low f 5 - from ns. There are no secret*
r 'the quality Me provide. b onr methods.
, t Co.
We hope that we may be able Id serve you while in our city. Wheth
er it is wearing apparel for yourself or a present to take heme to tiie
family, you will find it here.
, T-iarr', 1 rjtW'Vii jh. ■. v=sr— l .
y ■■■ ■ ———————-
Hotel Concord, Where Meetings of State Building and Loan League Will Be Held
A NEW RECORD.
Momifacturcrs Record.
The building and loan associations
of the United States have set up a
new record of achievement during the
year just passed. There arc now ap
proximately lIUOOO associations with
a membership of 10.01)9.000 and as
sets totalling $5,000,000,000.
During the past few years these
associations have made an unparallel
ed record in the matter of financing
homes throughout the country. In
1028-21-25 a total of 1.2NN.000 homes
; have been financed through thes*
agencies, with a total expcnd'turc of
$4.420.000.0tK). and it is estimated
that these homes have housed 0,400,-
• 000 people]
These figures speak for themselves.
But in addition, there is more to b;
!. considered than the mere housing of
■so many millions of people. It is es
1 Uanated th;H approxitnately one-half
»|<? tl||* scost M a home for labor
of* or a upthrt’. I,)i crafty I
1 speaking, therefore, billions of dol
lars have gone out during the past
three years t > workmen and artisans
who have helped to construct these
homes. The only way by which this
could have been done was through
the building and loan association
method of financing. The pros|>erit.v
of the country lias been held up large
ly through the construction industry,
fifty per cent, of which has been in
the residential field. The various re
ports of the Secretary of Commerce
of the United States will bear out
these facts.
Regardless of any intent goon the
part of th* investor, more than 112 per
rent, of the money : nvested in these
associations goes to finance home own
ing. And : t should be said that this
situation has not been brought about
by accident. The fundamental pur
pose of every building and loan asso
ciation is to help people to own
homes. It is this f::ct that counts.
It is lghne oWnchdiip that they, are,
sWfvi rqr to.-asr’li ielfe. «*.- 1
Tuesday, Jurte 22, 1926
[These associations are operated,
owned and controlled locally by the
investors and the borrowers themselves
for the mutual benefit of each. They
have no purpose of private ga : n or
profit and by this means the investor
receives u greater interest yield and
the borrower receives the lowest net
cost loan to be had from any souixi*
Their record of achievement as to
safety of operation has no parallel in
the history of finauce.
Interested neighbor: We just mov
ed in yesterday. Isn’t your Willie
taking saxophone lessons?’’
l>oting Mother: Yes. isn’t he won
derful? Every one oni the street
thinks he ought to go to Europe.”
Bobbie—Grandma, whieli is the
right side of you? Mother said if I’m
a good boy ami keep on the right
side of you you might take me down
to Fbatfterstone’s hardware store to
skates.