Herewith please find the formal call for the International Congress, to be held at Hotel Metropole, London, England, on August 11 and 12 of this year. When Mr. Naylor, chairman of the Executive Committee of the Building Societies Association of Great Britain, was here, we went over the matter together, and at his request the call is issued by the Committee of the United States League alone. I am pleased to report that in a few days the program will be so far complete that the same will be submitted to the committee for approval and suggestion. It is also with much pleasure that I report the great interest now taken in the Congress by the leading_men_of_the movement in England, Wales, Ireland, France, Norway, South Africa and Australia. Everything now indicates a most successful meeting for the first Congress. Will you please give publicity to this call in your next issue, and greatly oblige. Yours truly, L. L. RANKIN, Chairman Committee of U. S. League on Int. Congress. Editor News: CHICAGO, ILL., December 28, 1913. While in Cincinnati attending the National Housing Conference I called at your office but found you were in New York. Would be pleased to have you send me the following: Your Manual on Building and Associations and renew my subscription to the AMERICAN BUILDING ASSOCIATION NEWS, which runs out soon. Enclosed please find check. Also proofs or copies of any ready printed circulars or pamphlets you may have in stock or plates of. In attending the above Conference I was again forcibly impressed with the fact that the general public does not know what a building and loan association is, or that there is such an organization in existence. When one explains the working plan they imagine it is some scheme for personal gain to the speaker. Propoganda and publicity is absolutely necessary, and how shall we get it is the rub. How can members be awakened to see that it is their duty to their fellow man as well as to themselves to advertise and boost by word of mouth their association. With the mass of advertising matter and literature that is daily going through the mails and then into the waste basket or stove unread and unnoticed, it is almost a hopeless task to do it by mail. But you have heard that story before, if you will forward the book and other matter we will continue to study. With much appreciation of your labors in the work and my kindest regards, I remain, Editor News: Yours truly, MARK D. RIDER, President Illinois League. JOHANNESBURG, SOUTH AFRICA, December 10, 1913. Your courteous letter of the 22d ulto, is duly to hand, together with literature, for which please accept my best thanks. Your personal remarks have been noted with much interest, and, I too, look forward with appreciable anticipation to meeting you during the forthcoming year. The literature supplied by you is full of interest and I appreciate sincerely your kindly attention in this respect. With best wishes, Yours truly, F. E. BLACKWELL, Secretary United Building Society. Depreciation of the Tax-Payer's Dwelling House is Not a EDITOR NEWS: The depreciation of dwelling property under the Income Tax Law is not allowed. This surely is unjust, as dwellings surely do depreciate the same as store property does. But how about the repairs that are actually made and paid for each year? Is it not but just that these deductions be made, for we cannot rent dwellings unless kept in good condition, and should not the actual amount paid out be deducted from the rents thereof? Please give an opinion. SUBSCRIBER. REPLY.-The only deduction allowed for depreciation by the Income Tax Law is: "A reasonable allowance for the exhaustion, wear and tear of property arising out of its use or employment in the business." The $3,000 or $4,000 exemption allowed to all citizens must cover repairs to the dwelling house. EDITOR NEWS: School Savings in Elmira, N. Y., Growing. ELMIRA, N. Y., December 20, 1913. I enclose a report which I think takes the cake. We are getting wonderful results. "The last deposit of school savings for the first half of the year was made December 15, 1913. Since school opened there have been 16 deposit days with average deposits numbering 878 each Monday, and average receipts of $297.85 each week. The total number of deposits is 14,046; amount received, $4,765.62. As compared with last year the gain this year in number of deposits is 3,234; in amount received, $1,516.54. The local distribution is as follows for the different schools: In addition to this, the sum of $306.07 was deposited in banks for infants under school age and at home. It will be noticed that the Elmira town school No. 6 appears in this list. This school started in late in November and will hereafter deposit regularly. The total fund on hand at the close of the school year in June was $20,347.13; adding receipts of this period the total becomes $25,112.75. To this will be added on January 1 the six months' dividend, which will swell the sum to nearly $25,500. This report shows a steady and gratifying increase both in the number of depositors and the amount saved. While the growth here has been constant each year, this present period exceeds every other and shows more than double the gain of previous periods. Another remarkable fact is observed. As the deposits increase, the withdrawals are decreasing in amount. The habit of saving seems to be more fixed; the withdrawals are only such as are really necessary and the amount of individual withdrawals is smaller. In fact, the larger proportion of withdrawals is due to removal from the city or sickness. The number of new depositors is greater than ever before. Over 400 new names are on the rolls and the total now exceeds three thousand, more than 75 per cent of the total registration in the grammar schools. Much interest is being manifested in other cities in the school saving work being carried on in Elmira, because its operation has been phenomenally successful, exceeding the records of any city under the old plan. Parents of Elmira who give their children presents of money at Christmas time should see that it is deposited in the school envelope on the first Monday of school. Last year the new year deposits amounted to $702.00." A FEW FACTS IN QUESTION FORM. Do you know that the three inalienable rights of man are right of personal liberty, right of personal security and right of private property; that the first of these was asserted in the Declaration of Independence, the second was assured by the War of Independence and the last is insured by dependence upon Building and Loan Associations? Do you know that Building and Loan Associations are mutual benefit associations, without assessments, and the safest and surest way of saving money and increasing it? Do you know that $1.00 a month grows swiftly, and do you think you would miss it? Do you know that the WEST HUDSON BUILDING AND LOAN ASSOCIATION is earning over eight per cent on the amount invested, and that you can commence on August 13, at No. 299 Kearny avenue? Do you know that you can borrow 80 per cent of the value of your property next Wednesday night from the West Hudson Building and Loan Association; that, while it is only seven years old, it has over $110,000 invested in bonds and mortgages? Do you know that you will only pay 5 per cent interest and less than $1.00 a month for every $100 you borrow? Do you know that all profits are for the members, and that last year rent, salaries, advertising, postage and all other expenses were less than $550? Don't you think you could save money or own your own home by joining this mutual association and know that your money is watched by experts appointed by the State? Don't you want to at least try and start next Wednesday night, either to save or have a home? Can't you write or call, if you want to know more? In furnishing your new home, you will want THE BEST The Baldwin piano Meets all your requirements and will be a source of satisfaction for a lifetime. Write us for Catalogue and facts that will interest you. The Baldwin Company 142 WEST FOURTH STREET, CINCINNATI A GOOD for the New Year, is to begin to save money. A man, last week, said that he had been at work for twenty-five years, and had not saved twenty-five cents. He found, when he needed money, how near to the poor house he had kept his family, That man will start the new year with a savings account in THE BUCKEYE SAVINGS AND LOAN Co., of Bellaire, Ohio. He will add to it, from time to time, such sums as he can and will spare from his earnings. Twice a year, on the first days of January and July, interest at the rate of five per cent a year will be added to his savings. In a few years that man will be able to meet financial trouble, when it comes, like a man. He will be a stronger man, a better citizen. It is a comfortable feeling, when need comes to know that you have Uncle Sam will help you to do business with THE BUCKEYE. THE BUCKEYE. Resources exceed $2,900,000 Surplus to Policy Holders, $8,884,871.95 This Company was doing business when George Washington was President. B. L. WEST, Ass't Gen'l Agent W. N. JOHNSON, Gen'l Agent 76 West Monroe Street, Chicago, Ill. The Conservative Savings and Loan Association We desire to congratulate you and the Insurance Company of Borth America for the prompt and very satisfactory manner in which you adjusted our tornado losses aggregating over 80,000. In deciding upon a company with which to transact business of such vast importance to our Association, it is gratifying to know that we selected one of such strength and reliability. MONTHLY DUES CALIFORNIA. The Citizens' Building and Loan Association of San Francisco assets are $684,824; contingent fund, $21,505. ILLINOIS. The directors of the Streator Mutual Building and Loan Association met last evening and re-elected the following officers: President, D. C. Murray; vice-president, G. A. Dicus; treasurer, J. C. Everett; secretary, J. W. Essington. The fifty-seventh semi-annual statement of the Eureka Building Association of LaSalle shows assets of $1,000,494; contingent fund, $5,801. This association gained $92,512 in assets during the past year. G. A: Wilson, Sec. INDIANA. ¶ W. H. O'Brien, auditor of state, has appointed Beecher Holleman, postmaster at Mt. Vernon, Ind., a field examiner of the state's building and loan department. Holleman takes the place left vacant by John D. Williams, of Bedford, who resigned months ago to become a field examiner in the state board of accounts. Both Holleman and Williams are Republicans. MASSACHUSETTS. The thirty-second annual report of the Merchant's Co-operative Bank of Boston shows assets of $3,913,824; guaranty fund, $156,665; surplus, $12,459. Albert E. Duffil, clerk and treasurer. The fiftieth semi-annual report of the Watertown Co-operative Bank shows assets of $714,238; guaranty fund, $7,554; surplus, $13,857; last dividend at the rate of 534 per cent per annum. The number of shares in force is 12,896, of which 3,449 are pledged for loans on real estate. U. S. Young, treasurer. MISSOURI. ¶ Hon. Morris G. Gordon, state supervisor of building and loan associations, returned to his home at Jefferson City, after a short visit here with his brother-in-law, R. E. Hall, deputy state factory inspector. Mr. and Mrs. J. W. Hall, parents of the factory inspector, also have been visiting with him. Their home is in Liberty, Mo., and the senior Hall is recorder of Clay County. NEBRASKA. The board of directors of the Conservative Savings and Loan Association of Omaha, at the final meeting of the year, held Tuesday afternoon, received the reports of the officers, showing a net increase in the business of the association for the year 1913 of practically $1,000,000, bringing the net totals to $8,650,000, with a reserve fund of $225,000. The officers reported that the earnings for the year amounted to almost $500,000, and was sufficient to enable the association to pay a dividend at the usual rate of 6 per cent per annum, besides adding $25,000 to the reserve fund. The total dividends disbursed by the association in its twenty-two years of business now amounts to almost $2,500,000. In addition to caring for scores of people whose homes were affected by the Easter tornado, the Conservative made 1,312 real estate loans, 309 of which were for the building of new homes, and practically an equal number for the purchase of homes already built. Altogether the year is reported the best in the history of the association. |