1893 - State Library Information Center

468 STATISTICS OF LABOR AND INDUSTRIES.ence to the loaning committee, and in a word give the associationbusiness that same intelligent care that the executive officersof all other equally important corporations give. If he weresomething more than a mere bookkeeper there would be lesslosses; but he is only paid an annual salary, ranging from $300to $500. When we think of this allowance we do not wonderthat he tries to confine his labors to the mere keeping of therecords, leaving everything else to the various committees of theboard of directors.It is usual to select the loaning committee for the month fromamong the board of directors in rotation. Very few associationshave a regular and permanent loaning committee, and those whohave can rarely get them together when needed The committeesthus selected are never paid and seldom attend to the associationbusiness as they would do their own. They are busy menand cannot afiord to give valuable time without compensation.How often applications for loans are returned to the secretarywhen only one of the committee haB examined the property,The excuse is given " I did not have the time to Bee it, but I willtake the judgment of and sign the report on the strength of Mr,Blank having seen it."-When building associations pay bettor salaries to the officersrand the loaning and auditing committees of the board of- directors, they will receive better service and will make morev.money for the shareholders. State associations do not do businesson the old plan, and, consequently, they make larger profitsby more promptly investing their money and avoid losses bymore care in loaning money, all because those in charge arepaid properly for the time and service rendered. While thisprimary defect exists, it is hardly worth while to mention thedefects of management.HOW TO PROVIDE FOR THE PAYMENT OP MATURING-SHARES.This question is fast becoming one of serious concern to theever-increasing number of associations whose oldest sereia areapproaching maturity. The Bureau is constantly receivingrequests for suggestions as to the beBt way to provide for the