Name/Title
Waupun Savings and Loan AssciationScope and Content
Historical information on Waupun Savings and Loan Association for 1976 Bicentennial Celebration in Waupun, WI.
*Facts are typed and was scanned with mistakes, if any, left uncorrected.
Letter from State Banking Department of Wisconsin, Madison to State Bank of Waupun, dated October 11, 1923.
Mr. Fred W. Luck, Cashier
State Bank of Waupun
Waupun, Wisconsin
Dear Mr. Luck:
I am directed by the Commissioner of Banking to reply to yours of October 9th.
I am sending you under separate cover the 1920 report of the Commissioner of Banking regarding building and loan associations. This will give you the information you desire regarding these associations in towns the size of Waupun.
I am also forwarding a copy of the law.
It is very difficult for a building and loan association to make a success in a town of your size, as you will note from similar associations in small towns.
Very truly yours,
Chief Clerk (Handwritten name - Chase E. Butter ?) Not sure if this is spelled correctly.
CEB-AEB
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WAUPUN BUILDING .AND LOAN ASSOCIATION
Waupun, Wisconsin March 7, 1924
"If you would be wealthy think of saving as well as getting."
-Benjamin Franklin.
"Save and teach all whom you are interested in to save; thus pave the way for moral and material success."
-Thomas Jefferson.
To the Subscribers for shares in the Waupun Building and Loan association.
The Banking Commissioner of the State of Wisconsin having approved the Articles of Incorporation and the By Laws of the Waupun Building and Loan association the organization committee has been authorized to open the books for the registration of members, receive theinitial payments and to perform other necessary acts prior to the holding of the first general meeting at which the Board of Directors will be elected, who will thereafter have charge of the affairs and business of the Building and Loan association.
A GENERAL MEETING MONDAY, MARCH 17.
The meeting for the election of directors will be held Monday night, March 17th at the rooms of the Association of Commerce in the National Hotel, 4 North Mill street, at 7:30 o'clock. Nine directors are to be elected, three for one year, three for two years and three for three years. Thereafter each year three directors will be elected for three years each. The election of directors is one of the most important matters requiring the serious consideration of the stockholders. Each stockholder is entitled to vote in person, with one vote for each share of stock subscribed for. Do not overlook the importance of attending this meeting Monday, March 17th.
FIRST PAYMENT ON STOCK NOW DUE.
Payments on stock are now due and payable at the office of the Association of Commerce, 4 North Mill street. The payments include the 25 cents per share membership fees and the first monthly instalment at the rate of fifty cents, seventy five cents or one dollar per share per month, which ever rate has been selected by the subscriber. For the purpose of accomodating those who are unable to make the payment during the day time the office will be open Wednesday night, March 12 until 9 o'clock, also off Saturday night, March 15. All payments for subscribed shares must be made by Saturday the 15th. Only those who have made the initial payments upon their shares will be entitled to vote at the meeting Monday night, the 17th.
Interim receipts will be issued for all payments made until the regular Board of Directors and officers are elected and a supply of the usual pass books is secured. Those who wish may mail in checks for the amount of the membership fee and the instalment dues, provided they designate which rate of monthly payment they select. Receipts will be issued for such payments.
You have subscribed for 2 shares, upon which the membership fee of 50 cents is due and the first installment at the rate of 50 cents, 75 cents or $1 a share per month.
Organization Committee and Incorporators:
C. M. WELCH, Chairman
DR. F. T. CLARK
W. E. GRAHAM
H. M. LARSON
L. H. MIELKE
W. H. BAKER
C. S. SHERRY
GEORGE GIRLING, Secretary.
President Coolidge in a recent letter wrote, "I am glad to know of the plans which the United State League of Local BUILDING AND LOAN Associations is maturing with a view to bringing home to the American people' the lesson of thrift and the desirability of home ownership. No greater contribution could be made to the stability of the nation, and the advancement of its ideals than to make it a nation of home owning families."
Secretary Herbert Hoover of the Department of Commerce says: "I have a profound faith in home ownership as an incentive to saving and as a step towards financial independence. The building and loan associations and other organizations that are doing such good work along these lines have my most earnest wishes for success in their efforts during the corning year".
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Copy of newspaper article, $35,000 Pledged to Waupun Home Building, taken from The Daily Commonwealth of Wednesday, Febriaru 20, 1924.
Voluntary Subscription Taken in Organizing New Building and Loan Company
Plan to Erect Two Model Houses
WAUPUN, Wis., Feb. 20 - Waupun's building campaign was given added impetus Monday night at a meeting of the Association of Commerce and citizens when $35,000 was subscribed as the initial movement for a building and loan association. The principal speaker at the meeting was E. C. Schauer, a leading hardware man of Hartford, and the secretary of the building and loan association In that city. Briefly and plainly he outlined the actual workings of an association and its great benefits both to the individual and the community. From a little organization, with assets of only $433 at the beginning of 1917 the Hartford association has grown until it now has $237,000 of assets.
Seventy-five of the business men of Waupun crowded the association's room at the National Hotel, and within ten minutes after the announcement of President A. H. Bernhard that subscriptions would be received $35,000 was pledged to the building fund. It was the spontaneous response to the need of the city for increased housing facilities to accommodate the additional workers being employed at the various factories.
A committee composed of C. M. Welch. chairman, Dr. F. T. Clark, president of the school board, W. E. Graham, W. H. Baker, and H. M. Larson, manufacturers, L. H. Mielke, farmer, and C. S. Sherry, lumberman, was instructed to secure a charter for the new association immediately.
Among those who subscribed toward the building fund were the following: J. F. Teeple, president Teeple Shoe Co., W. G Glascoff, manager Waupun Canning Co.. P. E. Trautman, Libby, McNeil and Libby, Fred W. Luck, cashier of the Waupun State Bank, F. E. Grebe, L. A. Smith, W. H. Baker, Dr. F. T. Clark, P. H. Kelly, W. C. Howard, Thomas Hartgerink, O. H. Budahn, F. J. Houdek, Lewis Ulve, Elmer A. Haas, George J. Landaal, A. Davison, W. B. Graham, L. G. Kreuger, John B. Gysbers, A H. Bernhard, George Girling, A. H. Goppelt, Lee L. Welch, C. M. Welch, Thomas M. Turner, Loomans Wilsey Lbr. Co., C. D. Stack, I. T. Schuppert and George Gysbers.
At a meeting of the organization committee to be held tonight it is planned to take steps to increase the subscriptions to at least $100,000. In addition it is planned to erect one and possibly two "model" houses, one at a cost not to exceed $2500 and the other $4000. The business men have indicated they would underwrite the cost of these model houses, which after being displayed to the public will be sold at cost.Acquisition
Accession
2016.0075Source or Donor
Waupun Area Chamber of CommerceAcquisition Method
Donation
