The Home of the Trumbull Savings and Loan Company of Warren, Ohio.

The Trumbull Savings and Loan Company was organized in February, 1889, and was operated in upstairs offices until November, 1898, when it moved into its own building, which has been its home since that time.

It was with many misgivings and considerable doubt as to its wisdom (but as some one remarked at the time, with "lots of nerve") that the directors of this company, having assets of less than $200,000, purchased a lot and erected a building, which was the first association of its kind in the State of Ohio to build and occupy its own home.

The building, situated on the northeast corner of the Public Square, is a three-story structure of red hydraulic press brick, with sand-stone trimmings, fronting forty-four feet on High Street and one hundred and fifteen feet along Park Avenue, one-half the first floor being occupied by this association. This home has made possible the growth of assets to almost $5,000,000.

This company also maintains a branch at Girard, Ohio, with assets of about $700,000 and also owns its home, at that place.

In the thirty-three years of the existence of this company, many thousand homes have been built and purchased, and many thousands of savers have been benefitted by its services.

The association was organized by Robert T. Izant, who was its secretary until two years ago, when he was elected president and John W. Masters, who was president since 1891, was made chairman of the Board of Directors, and these two with Jacob H. Ewalt. now its vice-president, are three of the original organizers who are still active in the operations of the company.

The officers at the present time are John W. Masters, chairman of the board; Robert T. Izant, president; Jacob H. Ewalt, vice-president; James R. Izant, secretary; G. W. Masters, treasurer; Wm. H. Atkin, assistant secretary, and Wm. H. Zeller, manager of the Girard Branch.

The directors have for some time felt that a more commodious and modern home was necessary, and would be advantageous and have in contemplation the razing of this building and erecting on the site a modern building that in its appointments will not only be a monument to its past success, but will more fully demonstrate to the fast-growing community that the "home owning" idea is one of the most important to the maintenance of the principle that "The American Home, is the Safeguard of American Liberties."

The 55th Anniversary in Ohio!

Just 55 years ago the first building and loan institution to be founded in Ohio was opened at Delaware. From that day until now, the growth of these institutions has been one of the financial wonders of the statethe last report of the state superintendent of building and loan institutions showing 762 such concerns. Building and loan institutions at their start were located in the rear of groceries, insurance offices and the like, but now in most places they occupy substantial buildings, the total value of which in Ohio runs to many millions of dollars.

The founding of the first institution at Delaware, in the spring of 1867, was soon followed by the organization of similar companies in Cleveland, then in Dayton, and in the fall of 1867 at Cincinnati. By the end of 1867 there were 31 such institutions in Ohio. Twenty years after the founding of the first building and loan institution in Ohio, only 81.such institutions had been organized, but in the next ten years, between 1890 and 1900, more than 600 such institutions were organized.

At the end of 1867, building and loan institutions in Ohio had authorized capital of only $10,000,000, but at the end of the last fiscal year these institutions had authorized capital of one and one-quarter billions of dollars. As an evidence of their remarkable growth these institutions made a gain of more than $60,000,000 in their assets last year. These institutions, this spring, contend they are bearing the principal part of the burden of financing the construction of the thousands of new homes that are being built in Ohio. It is estimated that at least 40,000 homes will be built in Ohio within the next six months and that it will require $120,000,000 to finance the construction work. "Building and loan institutions in Ohio are celebrating the anniversary of the founding of the first institution by appealing to the public for more funds with which to meet the demand for home loans," declared James A. Devine, secretary of the Ohio Building Association League.

AFTER ALL

THE SAFETY OF YOUR MONEY IS THE MAIN THING.

1. Many investments which looked attractive last year and were highly advertised

2. Are down and out today.

3. Holders of them are wiser now-and poorer.

4. How much better it is to get 5%, safety and peace of mind

5. At that old, conservative and well-known institution,

6. THE BUCKEYE STATE BUILDING AND LOAN Co., Columbus, Ohio.

Home of the Mechanics' of Galesburg, Ill.

The Mechanics' Homestead and Loan Association, which is one of the foremost financial institutions in the city of Galesburg, Ill., joined the ranks of home-owners last December when it purchased the Thompson building, shown herewith, the ground floor of which it has occupied for the past four years. The first floor of the building was remodeled some years ago for the especial use of the association and the Sanborn insurance agency and the second floor is occupied by law offices.

The Mechanics' Homestead and Loan Association has always advocated the ownership of homes by those who live in them, and is now very much gratified to have one of its own. The business of the association, always large, has been practically doubled since its removal from the second floor rooms to the ground floor rooms it now occupies, and Secretary Swanson believes that next year is to be one of the biggest years of increased business.

The Mechanics' Homestead and Loan Association was organized by our late lamented friend, Lake W. Sanborn, in April, 1882, with office in the basement of the Second National Bank Building. The first directors of the association were Prof. George Churchill, J. B. Boggs, W. C. Calkins, S. W. Grubb, A. J. Perry, Max J. Mack, E. F. Phelps, M. G. Kennedy and A. O. Peterson.

The first officers were Prof. George Churchill, president; J. B. Boggs, vice-president; Lake W. Sanborn, secretary, and W. W. Washburn,

treasurer.

After occupying the basement for a short time, the association moved to the second floor of the same building, where they remained until they moved into their present quarters.

The association has enjoyed an extraordinary growth since moving to ground floor quarters. The assets of the association have in the last three years increased from $2,100,000 to over $3,320,000.

The present directors of the association are James W. Carney, W. A. Armstrong, O. W. Walkup, M. J. Buckley, John W. Barry, A. W. Erickson, Fred R. Hazlett, F. T. Albert and T. N. Swanson.

Following are the officers: President, O. W. Walkup; vice-president, Edward Lundgren; secretary, T. N. Swanson; treasurer, W. A. Armstrong; attorneys, Carney, Carney and Nelson.

Correspondence.

The following letter has been forwarded to Mr. John A. Goodell, New York City, relative to Thrift Week:

Los Angeles, Cal., April 15, 1922.

Mr. John A. Goodell, Y. M. C. A. Thrift Committee,

347 Madison Avenue,

New York, N. Y.

Dear Mr. Goodell:-First let me make a frank confession. More than a year ago I received from your office the literature regarding the Thrift Week for 1922 and was impressed with the fact that while you had a "Bank Day" and a "Life Insurance Day," and a "Share With Others Day," etc., you had overlooked the greatest Thrift Institution of them all in failing to include a "Building and Loan Day."

It is common knowledge that building and loan associations pay a higher rate of interest than either savings banks or life insurance companies on the investment feature of their policies. The bank clerks in your city of New York have a co-operative building and loan association and from their literature I quote the following:

"The reason why a building and loan association is better to save in than a savings bank is that as you can make a deposit in the latter at any time, it usually happens that that time is never found; but with the association you have to have a regular time for depositing and a regular amount to deposit......and this tends to create a habit of saving-besides, the return is larger and the amount not restricted."

We have nearly six million members and nine thousand building and loan associations all over the United States and in most of them every dollar earned over and above operating expenses is distributed to the members. It is the most unselfish financial institution in America today. It therefore seems to me that your organization might well consider the observance of the one day in six as Building and Loan Association Day.

I might write pages in support of this suggestion, but I take it that you are more or less familiar with the benevolent principle involved in the Building and Loan Idea. Argument seems unnecessary when the United States and every state government has given recognition to this fact by exempting from taxation for a quarter century past.

Please do not think that I am not in favor of your movement, on the contrary we will do all we can to promote thrift and the objects you have in view. I simply make a suggestion which I believe will enlist the hearty co-operation of nearly nine thousand associations, having nearly six million members. Wouldn't the recognition of such an organization help more than devoting a day to some of the subjects indicated in your program? Most cordially yours,

R. HOLTBY MYERS, Secretary.

PAY RENT TO YOURSELF.

This institution is in a position to give you the service that will meet your individual requirements, whether you want to own a home or lay aside a portion of your income for financial betterment.

Don't forget that while you are paying for a home under our plan, you are living in it and saving the rent money. If you had to pay the rent it would amount to almost as much as your payments of principal and interest. Instead of rent receipts, why not a deed to the property?

If you want to secure a home and have not the required per cent of cash necessary for your part, subscribe for a few shares of installment stock and save a few dollars systematically each week or month. Enough will soon be accumulated to justify the association in advancing the balance for you to buy or build.

GREATER LOUISVILLE (KY.) SAVINGS AND BUILDING ASSOCIATION.

DUES

CALIFORNIA.

¶ Guarantee Building and Loan Association of San Bernardino will soon be in active operation. M. E. Dimock, secretary and treasurer.

¶ California Security Loan Corporation, Pasadena, shows assets $1,303,929, surplus $25,000, undivided profits $6,836. Arthur W. Byrne, president; A. J. Morris, secretary and treasurer.

Los Angeles has registered an increase of 143 per cent in its building activities for the first two months of the new year. The total number of permits issued to date is 6,256 as compared with 3,758 permits for the same period last year.

¶ Mr. O. M. Robins, of Santa Ana, California, will make an extended trip and visit many Eastern cities. He will attend the United States League meeting at Portland, Maine, and will make a study of the building and loan method in the Eastern cities. Mr. Robins is secretary of the Home Mutual Building and Loan Association, which has a remarkable record. This institution has assets of over $1,000,000, and during our recent visit to California, we found that there was not a single loan delinquent. Mr. Robins is ably assisted by his daughter. He has made the building and loan subject an intense study.

¶ O. M. Robins, secretary of the Home Mutual Building and Loan Association of Santa Ana, and who will be one of the delegates to the U. S. League meeting at Portland, Maine, was one of the judges in an essay contest conducted by the Santa Ana Realty Board on "Own Your Home" and "Santa Ana, Your Home Town." The contest stirred up a great deal of interest among the children and as a result many essays were submitted.

The San Luis Building and Loan Association, organized in 1888, has made $1,137,655 in loans, paid over $223,476 in earnings to its shareholders, and has loaned during the past year $143,950, of which there was expended in building thirty-six new houses the sum of $85,450 and $58,500 in purchasing homes and lifting mortgages. This association has never suffered a loss of one dollar, never foreclosed against any of its borrowers, has no real estate on its hands. Assets $379,631, reserve fund $5,325. M. Lewin, secretary.

DELAWARE.

The fifty-fifth annual report of the Newark Building and Loan Association shows assets $349,097, with no real estate on hand and loans in strong demand. David C. Rose, president; Warren A. Singles, secretary.

DISTRICT OF COLUMBIA,

C. Clinton James, president of the Washington Council of Building and Loan Associations, last month delivered an address before the real estate class of the Y. M. C. A. in which he first sketched the history of these institutions in this country and then explained in detail the operation and methods employed in accounting and in making investments.

ILLINOIS.

At the fortieth annual meeting of the Mechanics Homestead and Loan Association, of Galesburg, the following officers were re-elected: O. W. Walkup, president; Edward Lundgren, vice-president; T. N. Swanson, secretary; W. A. Armstrong, treasurer; Carney, Carney and Nelson, attorneys. The secretary's report showed assets $3,321,696, an increase of $222,618 for the past year, emergency fund $115,000, undivided profits $20,885. The expense of conducting the business of the association amounted to $14,798, being only four-tenths of one per cent of the total

assets.