Show f SELFISH TACTICS rm iN BUIlDING Arm AND Armi i cN ARE SCORED O OI Pacific Conference Advocates K cates Reforms I CLARK SLARK CLARK is SPEAKER t I Urges Salaries for Association II I Officers tact of ot building and loan as- as which In some parts of ot ih tSe country are operating for tor the private gain of the Inside stockholders stock stock- h holders and not primarily for the b benefit fit Of the shareholders Is were wele ii scored gored ored by Dr Horace HOlace 1 F. F Clark of I Kansas n as City educational director of the American Savings an and Building a sid Loan and d Loan oan institute in the principal address of the third days day's session bf the Pacific States Saving and andr Loan IJan r an conference held Saturday at club m If building and loan associations become so that they are not primarily maril marily for tor the benefit of ot the stock stockholders h holders and for the construction of ot oth h homes nes mes to build up their various c communities they should not be IL It b business Dr Clark Clarl declared I Building and loan associations can avoid criticism and gain a greater number of of- friends if they would In all instances pay their of officers officers of- of fi ers and boards of directors who afe fe usually the inside owners salarIes salaries salaries sal sal- aries rather than give ghe them e ex exorbitant ex- ex dividends while the re remaining remaining re- re stockholders receive much lower rates of ot Interest he stated There have been many cases t throughout some sections of ot the country where companies have given the Inside stockholders dividends divi d rids amounting to as high as 12 and a-and even 20 per cent on their Investment while the large number o stockholders receive only fi R pet pet- cent centor or so I Dr Clark Clarl recommended that there were some reforms which could be ben n made de in some states to put the building and loan associations in a better light In the publics public's eye ee The he address given by Ur Vr Clark was along the line of ot taxation regarding re- re garding building and loan tl ns He informed the delegates that as long as greater rates of ot Interest in interest interest In- In terest were being paid the Insiders they could not expect any exemptions tl ns from the government He also advised the delegates regarding the types of ot loans made Loans should 1 he made to the homebuilders and not it t the business concerns he said QUESTIONS ASKED i in ln in the open discussion which foi- foi owed wed Dr Clarks Clark's address scores or 1 questions were asked regarding tax exemptions x and the rates of or interest might be paid to the inside stockholders t and still be considered by the government An- An terest erest rate of 8 or 9 per er cent might but anything above e that wild could be considered unfair he exl ex- ex l Dr Clark advised th the Building 1 and loan association delegates deletes dele dele- gates ates tes to give the government the ts In their income tax returns md ind by all means to keep the indus indus- m out of ot politics lAll of ot the stockholders are en- en d to know Just how the money he hey themselves eol and other stock stock- l are paying In Is Invested isaId Companies should Instruct heir salesmen to tell the tee rv ve shareholders the truth In all and always be fair and b hove bove ve board lahe The he complete resolution is as fol- fol There is a growing need of ot more I and equitable legislation rid nd supervision affecting building nd d loan business in the several t tales Lates tes comprising this conference nd d A central committee represent- represent ng conference can make more contact with and to the controlling authorities states j That a known as a ommittee on education Is hereby and created Said com com- consist of ot not to ex- ex q Qed eed d five the members and shall shaIl be by the president by and Uh jh the consent of ot the executive ommittee of ot the conference and That the said committee Imme- Imme lately get In touch with the su- su of building and loan In Inifi Instates states represented In this conr con- con irence rence r nce and work to the end here- here Indica Indicated |