I! STILWELL EXPLAINS IN DETAIL PROPOSAL OF OGDEN CHAMBER OF COMMERCE TO BUILD HOMES HERE i bhi B Explaining in detail the plan of H tho Ogden chamber of commerce to H get behind the movement In this city H ' to provide a number of residences H . economically and quickly, Secretary O. H 1 J. Stilwoll this morning prepared the H following statement: H "Should Ogdon undcrtako to supply the deficiency of houses? H "The majority of cltlzons will say, Hj 'Yes; but how can It be done?' H "The committee of housing of iha H Ogden chamber of commerce has worked out a plan which it believes is H practicable. H "It Is proposed to organize from the H directors of the chamber of commerce, H or other citizens in whom tho public H has confidence, a very small stock H company, not to provido the finances H for the building of houses; but to hon-cstly hon-cstly and economically handle tho H finances and provide efficient man- H agement of a building propaganda. H "To obtain money for millding, sub- H scriptlons from our citizens of means H would be solicited, to be paid about H 10 per cent down and 10 per cent in H monthly installments, which would H take caro of construction as it pro- H j gressed. H J "For each payment made, the sub- H , scriber would be given a receipt, or H ' certificate, In the general form of a H negotiable promissory note, bearing S H per cent interest and payable on or H before two or threo years from date; H J final payment being mado by funds H obtained from tho rfaie of houses, or Hl I from mortgages on houses sold; or B bu turning in the certificate as part H purchase price In buying one of the H ' company's houses. H "Each certificate would bo good for H its face value, plus accrued interest, H to apply on the purchase price of V houses built by the company; not over H 50 per cent of the selling price of the H house to be accepted in certificates. Turn in Certificate. HL "Under this plan, any subscriber HL could turn in his certificate for the V amount of payments made; pay the H balance in cash; take out a house and 1 t terminate his relations with the com- H,, pany; thus avoiding the IntcrminaLiio 1 obligations and uncertainties entered H upon with any of tho building and H loan associations, whose plans ii.ro Hl theoretically sound, but whoso success H Is problematical on account of un- Hl favorable changes in management and financial conditions which arc sure to 1 occur somewhere along the extended H period necca3ary to complete tho H proposition. "A party may becomo a subscriber Hh with tho intention of purchasing a H home for himself; but more common- H ; . ly a subscriber v.' ill purchase a house M to resell on easier terms to ono of hi3 B force of employes, making such terms B as ho and hl3 customer can agree H upon; the interest of the company oe- B lng entirely liquidated. B "This feature of being able to get A I out quickly, and without loss, has ap- B j pealed to all who havo been ap- B l proached, 95 per cent of whom havo Br expressed willingness to give financial B !i aid without any other porduosion than B 1 the presentation of the plan. Obtain Options. The committee has obtained options Bj ' on four tracts of land in different H ' parts of tho city, suitable for tho crcc- H I Hon of three to five-room houses, but H will utilize the cheapest property of- B fcred In single lots or tracts; but no B location will be considered which is B too far out to be attractive to tho proa- H i pectlvc purchaser of a house when H built, or so near in as to make the iot B too expensive for the man of small H means. I "By contracting with a single opor-ator opor-ator for the erection of twolvc or mora houses, all alike excepting outside appearances, ap-pearances, a great saving can bo effected, ef-fected, olnco so much of tho work can follow tho samo pattern and bo done by machinery in tho shop. "Following this wholesalo plan of lot purchase and machine-work building, build-ing, a house costing nn individual $1,000 can probably ''bo gotten for $3,500 or even less. "The plan Is to sell tho dwelling for little if any above cost; in other words, the small company before mentioned men-tioned i3 not expected to make money, "It is estimated that overhead expenses, ex-penses, cost of abstracts, surveying, insuranco and other incidentals will add about 10 per cent to the contractor's contract-or's price. ,Bullt This Year. "Indications are that all tho houses which can bo built under this plan In 1920 will bo taken by tho purchasers of tho certificates as above explained; In fact, tho committee already has an offer from ono responsible party in "West Ogden to take twelve three-room houses as fast as completed; and from a real estate firm to take off our hands as fast as completed twelve four-room houses; that is, to sell them without commission. "As. soon as tho demand for homes becomes so nearly supplied that it bo-comes bo-comes necessary to pay a commission to sell, tho operations of this "relief society" will Immediately terminate, for at that stage real estate men and others could supply the demand. "Tho real estate men so far Interviewed Inter-viewed favor this scheme, realizing that eventually they will get a chance to handle many of the properties. An Appeal. "Will you loan money to this company? com-pany? Ninety-five per cent of those approached have said 'Yes.' 'You do not need to be told that we are losing citizens through our 'ack of housing facilities, nor do you need to be told that other towns arc really doing, In some form, what Is hore proposed, pro-posed, "If such a movo is a noccssity, and if, other cities havo undertaken and accomplished the' work, we must un-! un-! dcrtako something of this nature or I take a back seat. "O. J. STILWELL."