Rensselaer Republican, Volume 12, Number 40, Rensselaer, Jasper County, 25 June 1880 — Building Associations. [ARTICLE]

Building Associations.

large majority of the industrial classes diere being owners of their homes. Tho exceptionally comfortable condition of the masses in Philadelphia is duo to the so popular in that city, and heredtoforso many years, have made thousands of families proprietors of independent homes, who, if in New York, would be occupants of tenement houses belonging to landlords. Mr. Faunce, representative in the Pennsylvania legislature from Philadelphia, recently stated that “There are 560 building and loan associations in Philadelphia, with an aggregate capital of 1100.000,000; and there are more houses there than in New York, Brooklyn and Jersey City combined; that while there were 143,000 buildings in Philadelphia, there were only 93,000 in New York—and tHs ft das to the operation of tho building remarkable Bonn— at these associations as money investments in Philadelphia, and the undoubted benefits they confer en large masses of peoSi, the most singular thing is that they vo never gained a footing In other cities. They are almost unknown in New York, and although efforts have been made under direction of influential citisens to produce them in Boston, the*experiment proves a difficult and qpdulLbusiness.*