ELBERTON, GA., January 26, 1932. I. FRIEDLANDER, Willard Hotel, Washington, D. C.: I. FRIEDLANDER, FRED HERNDON, President Georgia Building & Loan League. SAN FRANCISCO, CALIF., January 25, 1932. New Willard Hotel, Washington, D. C.: Have carefully studied H. R. 7620 and heartily approve and indorse same. As largest building and loan association in the country, it is our opinion that the enactment of this legislation will be of great immediate help in restoring public confidence and moreover will permanently supply a credit facility for which there has been great need in this country and will undoubtedly make our type of institution even more useful than they have been in the past. ROBERT S. ODELL, President, T. W. DAHLQUIST, Attorney Pacific States Savings & Loan Co. I. FRIEDLANDER, LOGAN, W. Va., January 24, 1932. New Willard Hotel, Washington, D. C.: Read carefully, considered seriously bill H. R. 7620 and after sitting in the deliberations after president's conference believe it to as consistently cover the combined wishes, desires, and needs express as is possible everything considered, and believe the committee will best serve the need of everyone concerned by giving this bill their support. TOM G. MOORE, Secretary-Treasurer Logan County Building & Loan Association. I. FRIEDLANDER, TOPEKA, KANS., January 25, 1932. New Willard Hotel, Washington, D. C.: Building and loan executives of Kansas look with favor upon Federal home loan bank bill. Personally I feel its passage will be the greatest step in a hundred years to progress in home owning in the United States. PAUL B. MORRISON, Executive Secretary Kansas Building & Loan League. I. FRIEDLANDER, HICKORY, N. C., January 23, 1932. New Willard Hotel, Washington, D. C.: The revised Federal home loan bank bill H. R. 7620 and S. 2959, if enacted by Congress, will, in my opinion, be of great benefit to a large majority of the building and loan associations of the United States and will also be of great benefit to banks and insurance companies that make loans on homes. I sincerely trust that we can show Congress that enacting these bills will be best for the people. I take it for granted that Jack Stevens, secretary North Carolina Building & Loan League, informed you that at a meeting of the executive and legislative committee on the 14th they unanimously indorsed these bills. Best wishes for its success. GEO. R. WOOTTEN. MOUNDSVILLE, W. Va., January 25, 1932. I. FRIEDLANDER, New Willard Hotel, Washington, D. C.: Building and loans here insist on enactment that will revive business and create confidence. CITIZENS SAVINGS & LOAN CO. I. FRIEDLANDER, SPOKANE, WASH., January 25, 1932. New Willard Hotel, Washington, D. C.: Strongly favor Federal home loan bank bill. Believe it will create even flow mortgage money to home owner without inflation. Believe it will give greater liquidity for benefit of savings depositors who through unemployment or other causes are in need of funds. F. S. MCWILLIAMS, President Fidelity Savings and Loan Association. I. FRIEDLANDER, LINCOLN, ILL., January 25, 1932. New Willard Hotel, Washington, D. C.: WM. E. HODNETT. I. FRIEDLANDER, DENVER, COLO., January 25, 1932. New Willard Hotel, Washington, D. C.: COLORADO STATE LEAGUE OF BUILDING, LOAN, AND SAVINGS ASSOCIATION, INDIANAPOLIS, IND., January 25, 1932. I. FRIEDLANDER, New Willard Hotel, Washington, D. C.: I approve S. 2959 as a vital constructive measure. Its passage will permit associations to aid members who need assistance in remodeling and improving property, but will in no way make possible speculative building. I. FRIEDLANDER, F. S. CANNON. KANKAKEE, ILL., January 25, 1932. New Willard Hotel, Washington, D. C.: Fully approve of H. R. 7620. Whitlock will be with you to-day and can assure you of approval and support by Illinois League. FRANK O. SCHNEIDER. SPARTA, ILL., January 25, 1932. I. FRIEDLANDER, New Willard Hotel, Washington, D. C.: RILEN MCCONACHIE. I. FRIEDLANDER, KNOXVILLE, TENN., January 28, 1932. New Willard Hotel, Washington, D. C.: Tennessee associations regarding passage of Federal home loan bank bill as among worthiest services to the welfare of the people of State and Nation that national Representatives can render, Am urging support 10 Representatives and 2 Senators. I. FRIEDLANDER, E. I. BROWN, National Committeeman. LOUISVILLE, KY., January 25, 1932. New Willard Hotel, Washington, D. C.: Heartily approve last bills proposed, not from personal needs but for good of cause generally. A. G. RENEAU. TOPEKA, KANS., January 25, 1932. I. FRIEDLANDER, New Willard Hotel, Washington, D. C.: I am wholeheartedly in favor of H. R. 7620. Hope your legislative committee concurs in this sentiment. C. A. STERLING. NEWIBERIA, LA., January 25, 1932. I. FRIEDLANDER, New Willard Hotel, Washington, D. C.: Bill H. R. 7620 examined carefully. It embodies the important features of our December bill and is satisfactory to me. 1. FRIEDLANDER, W. G. WEEKS. PITTSBURGH, PA., January 24, 1932. New Willard Hotel, Washington, D. C.: My board of managers join with me in approving H. R. 7620 and request me to lend every assistance possible to secure its passage. It is mighty refreshing to contemplate the possibilities of this revised bill. The emergency element will do much good and the benefits as a permanent measure are beyond estimate. HUBBS WEIMER, Secretary Duquesne Heights Building and Loan Association. I. FRIEDLANDER, KANSAS CITY, Mo., January 25, 1932. New Willard Hotel, Washington, D. C.: Unless overlooked do not find clause permitting short-time emergency borrowing in bill 7620. Otherwise this measure meets approval and merits support of all building and loan interests. It is imperative to future of our business that home loan discount banks be created at this session of Congress. Public confidence is at critical stage. 1. FRIEDLANDER, FRANKLIN P. STEVENS. WORCESTER, Mass., January 26, 1932. New Willard Hotel, Washington, D. C.: The Worcester home and equity cooperative banks are in favor of House bill 7620; that is, first, if the bill is limited to building and loan association; second, banks that can qualify because of their long term loan, and third, insurance companies, preferably mutual companies. H. P. HAROLD, Treasurer. I FRIEDLANDER, PORTLAND, OREG., January 26, 1932. United States Building and Loan League, Willard Hotel, Washington, D. C.: Federal home loan bank bill H. R. 7620 should release necessary credit to eligible institution for resumption of normal operations, I heartily approve the bill and urge that every effort be made to hasten its passage by Congress. LEE C. STIDD, Director Eighth District United States Building and Loan League. I. FRIEDLANDER, HARTFORD, CONN., January 24, 1932. New Willard Hotel, Washington, D. C.: New England in general and Connecticut in particular have no urgent or pressing need for this legislation. Our associations are in excellent condition rather largely due to rigid State regulations and supervision. Credit facilities are available to those associations whose record warrants same. Nevertheless I am convinced that this is constructive legislation of high order and will be of infinite value not only in the reestablishment of public confidence but will set up a credit structure particularly adaptable to our business so urgently needed in other sections of the country. If for no other reason I am wholeheartedly in favor of the bill as drawn. HERBERT WALKER. Mr. I. FRIEDLANDER, Hotel Willard, Washington, D. C. MATTAPAN COOPERATIVE BANK, Mattapan, Mass., January 23, 1932. MY DEAR SIR: My institution is in full sympathy with H. R. 7620, and S. 2959, as we feel that these revised bills have brought the Federal home bank plan nearer to our associations. If the Massachusetts Legislature enacts into law the bill now before it, which will create a central cooperative bank, we may not have any need for the Federal home loan bank. At the same time, we feel that it will be very beneficial to the balance of the country. Yours very truly, Senator WATSON. Anything else? W. R. LANDERS, Treasurer. Senator WATSON. We thank you very much. Senator WATSON. Does anybody else desire to be heard this morning? (A pause, without response.) Then this subcommittee will adjourn until next Tuesday morning at 10 o'clock here in this room. (Whereupon, at 11.45 a. m., Thursday, January 21, 1932, the committee adjourned to meet again at 10 a. m. on Tuesday, January 26, 1932.) |