2001.126

Staff, Collected by

Field Collection

Museum Collection.

1943 - 1943

Date(s) Created: 1943 Date(s): 1943

Fair

Notes: 2001.126.1002 probably Dec. 18, 1943. Flames Signal Debt-Free "Y" Put to Hoboken Unit's Mortgage for $77,500 Sixteen years ago public-spirited residents of Hoboken obtained a mortgage of $233,000 to erect the city's first Y. M. C. A. building, at 13th and Washington sts., and last night at a dinner, in the basement of the building the last remnant of this legal document covering the sum of $77,500 went up in smoke, as total liquidation of the association's debts was announced. Dr. Robert B. Nattress, president of the board of directors, held the mortgage paper before the diners and then tore it into small pieces. These were passed about and burned in the flicker of small candles that had been placed on each table. Added to the original mortgage were many encumbrances, back salaries, miscellaneous bills and so on, which accumulated after the structure was built and placed in operation. The black days of the early 30's saw indebtedness soar to $280,-000, General Secretary Fred L. Broad reminded, until it seemed that the "Y" would have to close its doors. Hard Days As Broad recounted in his historic description of those days, even the coal man would not leave his supply without receiving full payment of his bill, and insurance on the building was carried at 90-day spells. "It was pathetic then, but humorous now," was the way the secretary put it. Broad further traced the hard times and then recalled brighter days when a body of business and civic-minded men got behind the society and by various endeavors cleared off part of the debt. Inspired by their success, they continued the procedure until the bill was down to $77,500. During the past weeks there has been another valiant attempt to make it a debt-free "Y" and by generous contributions and other methods, the money was obtained in full, bringing on the jubilation of last night. In addition, arrangements were commenced for a 1944 drive to attain $15,000 as working capital for the ensuing year. Max Z. Hurwitz, board member, who did much in erasing the large liabilities, will lead this endeavor. The Program Last night's program opened with invocation by Rev. A. Q. Wettstein, pastor of the Reformed Church of Hoboken and president of the Hoboken Clergy Club; remarks by President Nattress; introduction of board members; Secretary Broad's remarks; burning of the mortgage; remarks by Mr. Hurwitz; speaker, George F. Helde, administrative secretary of the Y. M. C. A. for the Far East, and one of the few Americans who has traveled extensively through South and Central China since Japanese occupation, and presentation of James L. Bethune, executive secretary of the Central Atlantic Area of the Y. M. C. A. Besides Dr. Nattress and Hurwitz, other board members, most of whom were present, are Louis Schelling, Eugene Magee, John B. Applegate, Louis Meyer, C. W. Kueffel, George G. Raymond, Carl J. Ahrake, Miss Sadie Lainkauf and Frank B. Crisp. [end] Status: OK Status By: dw Status Date: 2011-05-24