1930 Bldg.-Loan Resources Show Increase

Combined resources of the 2@ Calilornia building and loan associations increased $51 .831,671, or 1 1 .3 per cent during 1930, amounting to $510.520 490, at the cloie of the 'ear, according to a report filed with the Building and Loan Commissioner, and issued recently by the California Building-I"oan League.

Per capita inves'tment in California building and loan associations is $90.00, ,corr-rpared with $79.75 a year ago. Trhe cities that lead in this respect are Pomona, San Jose. Long Beach, Santa Barbara and Berkeley.

H. L. Carnahan, State Building and Loan Comrnissioner, stated both investors and borrowers, which now number more than 720,W, rvill benefit by the new California Building and Loan Association Act, which has just been presented to trhe State Legislature.

"T'his Bill will give to California one of the most prartical and constru,ctive building an<l loan lar.vs in the country",'he said.

H. S. Wanzer, Sacramento, presiden,t. California Buil'ring-Loan League, in commenting on the report, stated : "With $50,000,000, increase in the amount of money invested in California building and loan associations during 1930 these institu,tions assume an even more irnportant place in the finan'cial structure of the State.

"More than 90 per cent of the loans made by associations are for the,construction or purchase of homes. Growtl-r of these institutions therefore, brings employment to the building trades, finances the pur,chase of building materials and constitutes one of the principal factors in community development."

Berkeley Mill Burned

Fire. believed to be of incendiarv origin, destroyed the' planing mil,l of the Sheehan-Ballard Planing Mill Co., Berkeley, Mar'ch 9. Damage was estimated to be in excess of $60,000.

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