of young America to drift away from the home. Among other things Miss Adams said:

"If San Franciscans want to bring romance back into the home let them bring back the fireplace and the old-fashioned stove. The steam radiator may heat the house, but it fails to warm the heart of young America. It carries no cozy glow.

"Has the banishment of the family stove and the fireplace caused many of our present-day evils?' said Mrs. Adams, putting the question squarely up to her hearers.

"Perhaps the steam radiator has helped to destroy the cozy atmosphere that made home life worth while.

'Who ever heard of a young man proposing to a girl about a steam radiator? There is no romance about a radiator, the family cannot draw up about it. It is not conducive to family reunions, it creates no feeling of warm-heartedness. Romantically speaking, it is as cold as the north pole.

"Now the fireplace, or the comfortable family stove, is a source of inspiration, and createst sentiment. Seated around a cozy fire, a young man is far more likely to propose than at any other place except a moonlit garden.

'I believe in the family fireplace, the stove, the cook stove, the heating stove-all kinds of stoves, as adjuncts to family peace and happiness.'

Mrs. Adams concluded her address with a request that the orchestra play "Keep the Home Fires Burning," and that the audience sing the song in unison.

A local writer, taking her cue from Miss Adams, writing for a local paper over the name of "Jean Henry," cleverly says:

"See what we're up against,' said the old man on the ferry, pointing to the headlines in the Paper: No Fireplace, No Romance. 'That's the trouble and we didn't realize it. The age of the seedless apple, bobbed hair and hearthless homes!

"Everyone knows the old-fashioned fireplace was a heater only secondarily. In fact, the less heat it gave out the more it drew us together. I can remember when I was courting it became interesting only as the fire died down. Then we began to draw our chairs closer and closer to the fire, of course.'

"He was silent for a few moments, then took up the subject again. "The old-fashioned fireplace was all things. It was a ventilating system of the highest order; its coals were the cinema of those days; its chimney was the royal entrance of Santa Claus; its mantel piece was a shrine on which our treasures were displayed; its grate was an altar on which love letters could be burned. And, let me say right now, romance cannot exist unless love letters can be burned-properly burned.

""Then, the light from the fireplace! I tell you, you can learn more about human nature in that mellow, oblique light than you can in all the electric lights, direct and indirect, in the world. You never know how pretty a girl is until you see the glow of flickering firelight on her face. 'I've been giving this matter a good deal of thought. I don't like to see the young ones cheated of romance.' He winked painstakingly.

66

"It looks as if the fireplace had gone to stay. I tried to figure out a system for sending all young people and a few old ones-to Hawaii once a year; but I'm afraid that's impracticable. Then I tried to interest my friends in building public fireplaces; but the very publicity would kill romance. Still, the deadly steam radiator must not take all the joy out of life.'

"Again he was silent for a few moments. 'I tell you what they could do: They could make radiators heart-shape.'

CO-OPERATIVE effort by the people is infinitely better than paternalism by the state.-Frank L. Wells.

Nebraska State Report.

BY THOMAS J. FITZMORRIS

The twenty-ninth annual report on the condition of Nebraska building, savings and loan associations for the fiscal year ending June 30, 1921, has just been issued by the State Department of Trade and Commerce, Bureau of Banking. It is later than usual owing to the extraordinary pressure of business from disorganized banking operations and the failure of a dozen State banks.

In a foreword to the report Secretary J. E. Hart says: "All things considered, this is a splendid report," concluding with these significant words: "There were no liquidations."

The report shows 76 associations in the state, two of them-the Home Building and Loan. of McCook, and the Mutual Savings and Loan, of Omaha-organized during the year. Combined assets rose from $77,939,337 in 1920 to $84,071,013 in 1921, a gain of 8 per cent in twelve months. That any gain was made in this period of financial stringency, precipitated by the stunning slump in prices of farm products, is an achievement as agreeable as it is surprising, demonstrating in the most effective manner the impregnable foundation of co-operative finance. Despite the outgo of nearly $28,000,000 in withdrawals and distributed earnings, the associations advanced $12,404,307 on first mortgage loans, of which 1,165 were home building loans. Withdrawals of paid-up stock were particularly heavy, due to the lure of promises of greater profits, in most instances proving as visionary as the fabled "pot of gold at the foot of the rainbow." Steady payments on installments or running stock and on losses offset the withdrawals of the investing class and proved the keystone of association strength in this period of financial stress.

First mortgage loans total $75,458,480, secured by real estate and improvements appraised at $156,165,387. Assigned fire insurance amounts $86,404,300 and tornado policies $72,302,000. Loans on farm security totals $5,062,559, on an appraised value of $12,032,587. As a further safeguard the associations hold $3,070,687 in reserve and undivided profits, equal to 4 per cent of the loans. The reserve fund was increased by $272,314 during the fiscal period and only $17,279 charged off.

Associations hold only $152,065 in real estate, exclusive of nine owned office homes carried on the books at cost. Membership totals 133,782 persons, of whom 36,518 are borrowers. Together they hold 1,693,347 shares, a gain of 121,868 shares in twelve months. Earnings credited or distributed averaged 6.21 per cent on matured or full-paid shares and 7.25 per cent on running shares.

Following are the assets and liabilities:

Pennsylvania League Meeting.

The quarterly meeting of the Pennsylvania Building and Loan Association League was held in Philadelphia on December 17th, with President Joseph H. Paist in the chair.

The delegates were much pleased at the $300 income exemption in the new Revenue Act, and, on motion by Mr. McCaffrey, of Philadelphia, a congratulatory resolution was unanimously adopted and ordered to be sent to Hon. Charles O'Connor Hennessy, Chairman of the Legislation Committee of the United States League.

The secretary reported the death of the Hon. James Clarency. a former president of the United States League, and a vicepresident of the Pennsylvania State League. Resolutions of respect and appreciation for the valuable services given to the building and loan movement by Mr. Clarency were adopted and a copy of the Resolutions was authorized to be engrossed and forwarded to his family.

The League decided to take an active part in a Real Estate and Home Ownership Exhibition, to be held under the auspices of the Philadelphia Real Estate Board, in the second Regiment Armory, in Philadelphia, in April, 1922.

Some Truth in That, Too.

Certain things, like the house shortage, which normally would make for extensive building, are still with us, says a writer in the American Lumberman. Of course, the house shortage isn't a hard and fast thing that can be counted, like the number of freckles on a summer girl's nose. Not many people are without shelter. We must all cut our garments to fit our cloth, and if on our income we can't afford the house of our dreams we make shift to get along with a real house that we can afford. The shortage is an elastic thing; and I suppose if income would increase rapidly enough we'd find that no matter how fast the builders worked they would steadily fall behind. Biddy, the scrub lady, is quite thankful for her hall bedroom; but given a rapidly increasing income and an imagination that would stand the strain she would go through the intermediate steps of shanty, cottage, trick bungalow and apartment and land eventually in the banker's three-story house on the hill. Then, unless an architect with an eye for the main chance came along with the plans for an Italian palace, she'd probably complain of the shortage of suitable houses. The house shortage of a community has to be measured in part by the amount of the community's income. Conditions may be present that will make for the building of homes when income is suitable, and it's important to know about these things. But houses are not going to be built until both owner and dealer can see through to final payments. Your real house shortage will appear when people are fixed to better their living conditions. It will make itself manifest when houses are being built.

For the Good of the Community.

Writing in the Birmingham (Ala.) Age-Herald Richard T. Johnston in a double-column article urges the good people of that city to do what ought to be done in every other city, namely to deposit their funds with the building and loan associations— for the good of the community. He says:

In yesterday's Age-Herald there was an account of 220 Birmingham homes being financed, during the first ten months of the year by one of Birmingham's three building and loan associations. What a pity there are not more of them and that their loaning power is limited. Many more homes would have been built were more money placed by Birmingham people in the 5, 6 and 7 per cent stock of these concerns.

Birmingham building and loan associations have never lost a penny of the money invested in their different kinds of stocks, but, on the contrary, have unfailingly paid the specified interest and principal and paid on time. Their funds are secured by first mortgages, whose amount is never in excess of 50 per cent of the value of the property, hence constitute the safest investment known to mankind.

Every investment in the building and loan associations is a certain one and a liquid asset. Every amount of money placed in a building and loan association is automatically available in case of need. Every loan made of a building and loan association has definite and specified periods of repayment with amount known to a gnat's heel prior to the making of a loan.

Beauty of building and loan investment by a salaried man is that he can go in on any basis desired. He can get paid-up 5 and 6 per cent stock in blocks of $50. He can invest in the 7 per cent monthly savings in any amount desired. The monthly form of investment is ideal because there is the monthly reminder.

Borrowing from a building and loan association is ideal for the salaried man, because there also is the amount to be paid back monthly is stated, definite and easily forthcoming from the stated and definite pay envelopes. At the end of each of these monthly payments the principal is reduced and, when the last monthly payment is made, the debt is of the past.

A high industrial authority in New York city said the other day that "if there were $750,000,000 of building and loan money available tomorrow to New York householders, there would be a mob at the doors of the associations by those desirous of making loans to acquire homes."

So every man who invests in the 7 per cent monthly payment stock of the building and loan associations, or in their 5 and 6 per cent paid-up stock, is not only placing his money where he will receive certain income, but he will be helping the building of homes and the making of a bigger city with larger payrolls, thus enjoying a direct and indirect benefit simultaneously.

The more we stick to our home enterprises the more we add to our own values. Yours for upbuilding.

We need untiring publicity, especially newspaper advertising, to increase our deposits and consequently our power for home extension work. If the general public really knew the advantages of investment with us, people would be lined up at our doors in the morning waiting for us to open up and take their money. How can we teach them the wonders of co-operative finance as exemplified in our associations? How can we spread the message of safety in investment that we have on our lips when alas the words of our lips are heard by so few?-Walter F. McDowell, Tacoma, Wash.

Omaha Fourth as a Home-Owning City.

By T. J. FITZMORRIS, in Omaha World-Herald.

The little old woman who lived in a shoe had just as much right to call her abode "home" as the millionaire of today who lives in his palatial residence, according to the construction placed upon the word "home" by the government in home-building statistics compiled by the Census Bureau in January, 1920.

In a contest conducted by a London newspaper several years ago to determine the truest meaning of "home" answers were received from near and afar, and, it was said, very few were alike. The definition which won first prize was: "Home: The place where we grumble the most and are treated the best."

But Uncle Sam's census bureau attaches place an entirely new construction upon it. They define it as follows: "Home: Any building or structure in which one or more persons regularly sleep. It may not necessarily be a house in the usual sense of the word. A boat, a tent, a freight car, or a room in a warehouse, if it serves as a regular sleeping place for one or more persons, is treated as a home. On the other hand, an entire apartment house, although the abiding place of many families, constitutes only one dwelling."

Similarly the term "family," in census office usage, signified "a group of persons whether related by blood or not, who live together in one household, usually sharing the same table." One person living alone is counted as one family and, on the other hand, all the occupants of a hotel or institution also are treated as a single family.

The average size of families in Nebraska are 4.3 and 4.5 persons to a home.

Omaha ranks fourth now as a city of homes and home owners, with a total of 44,799 homes, of which 48.4 per cent are owned by the occupants and are 22.8 per cent free from debt. Des Moines ranks first in the number of homes; Grand Rapids, Mich., second and Toledo, O., third.

Omaha's annual gain in home ownership has been higher and steadier than that of the other three leaders. In 1910 the percentage of owned dwellings here was 39.8, and in 1900, 27.7. Thus, in twenty years, Omaha has scored a gain of 20.7 per cent against 12.6 per cent by Des Moines; 8.8 per cent in Grand Rapids, and 6.4 in Toledo. The twenty-year average of 1 per cent per annum, applied to the two building seasons following the taking of the census warrants a claim of 50 per cent ownership of homes in Omaha now.

Census reports on homes and families in communities of less than 100,000 population are not yet available to show the trend in Nebraska cities and towns. Nebraska as a whole has 303,436 families, averaging 4.3 persons to the family, and 288,390 dwellings, averaging 4.5 persons to a dwelling. The state ranks thirteenth in home ownership, the census showing a percentage of 57.4, of which 34.9 per cent are free from encumbrance.

REGULAR AND SPECIAL AUDITS MADE.

Simplified Modern Systems Installed

Building and Loan Associations.

STOCKHOLDERS AND DEPOSITORS appreciate and prefer audit of books and accounts by certified public accountants. Familiar with the law and state department requirements. Years of practical experience as State Examiner.

FRANK H. KRONAUGE, C. P. A. (NA)

Office, 2 Woodland Ave.

Telephone, Main 4832.

Dayton, Ohio.