4 LOCAL NEWS
Blany important events
re occurring In Salem and
vicinity at present. A borne
- paper is essential in keeping
op with them.
THE WEATHER
Partly cloudy and cooler
probably unsettled ; .Max
Temp. Tuesday 100, Min. 69,
river -3.7 feet, variable
winds.
FOUND EP 1631
EIGHTY-FIFTII YEAR
Salem, Oregon, Wednesday; Morning, August 28, 1935
No. 132
i
I.
i
BOARD INVITES
OFFERS ON ALL
CAPITOL SITES
Location , on Heights South
Favored by Martin, He
Hints at Meeting
Campus Price Far Too High
He Indicates; October
Session Forecast
Now Is the time for all proper
ty owners in Salem who own pos
sible sites for the state capitol to
come forward with their propos
als, the state board of control de
cided yesterday morning, when
it officially authorized its secre
tary, Dan J. , Fry, to receive new
capitol site offers. Any and all
proposals made to the board will
be considered, it was .determined.
Governor Martin " himself de
clared that the selection of a site
In the Ben Lomond district south
of Salem should -be carefully con
sidered and Indicated .that he
thought the location of the state
bouse ona hill commanding the
valley and the city was one which
would be excellent.
"We are at a turning point in
the state's history," the governor
said. "We must have the vision
and the courage of the '70's when
men like Governor Grover, with
. a thinly populated state and a
fraction of our present wealth,
.built a structure which for its
day was a magnificent one."
Intimates Campus
Price Far Too High
The governor . proposed the
calling for offers on a site at a
board of control meeting after
saying he "would blush to make
. public the price asked by Willam
ette university for its campus as
a statehouse site."
The governor admitted he teas
pushing further negotiations for
the Willamette campus,' and
would submit several possible
capitol sites to the. legislature,
which he expeeta'AtO'V-eali' Into
special sessionln Octoberr,:-
The legislature will "have i the
final determination - of the ' Site.
It is expected, though, that the
senators and represenaives will
place their authority in the hands
of a special capitol building com
mission, probably to be .appoint
ed by the governor with the ap
proval of the legislature.-
State Treasurer Holman re
vealed for the first time that
he and Secretary of State Snell
were moving out of the capitol
question spotlight. ,
V"We two really have no au
thority and no legal status in
this matter of the new capitol,"
. Holman explained. "The board
of control has no authority either.--The
final decision rests with
the legislature. But the governor
must submit a program to the
session, and Snell and I are -really
sitting in these "meetings at
the courtesy of the governor to
help him formulate his program.'
See No Reason For
Mixing In Question
Holman and Snell said they
were not retreating under fire;
were not ones to evade issues,
(Turn to Page 2, Col. 1)
Tiny Bee Has
Lead Role in
A bee sting sent an automobile
crashing against a telephone pole
and Its occupants, two Portland
young women, to a Salem physi
cian's office for treatment of cuts
and bruises shortly1 after noon
yesterday. The Occident occurred
at the northern edge of Brooks
on the Pacific highway.
State .police reported the driv
er, Mary Green, of 5715 Minne
sota aveuae, Portland, lost con
trol of the car, a flight coupe,
when the bee stuns her. The ma
chine swerved Into the ditch' and
; was . demolished by J the Impact
with the pole. ., t
Injuries suffered by Miss Green
and her companion, Charlotte Sei
dow, of 821 Bryant street Port
land, were not considered serious.
Late Sports
WICHITA, Kas., Aug. 27.
Bismarck, N. D. won the national
semi-pro baseball championship
here tonight, defeating the Halli
. burton cementers of Duncan,
Okla 6 to 2 before 10,000 fans.
SAN DIEGO, Aug. 27.-flVVln-cent
: Lopes, 218 ; pound Mexico
City grappler, retained his claims
to the. heavyweight title "when lie
defeated George Zaharias, 230, of
: Pueblo, Colo., In : two straight
falls here tonight. ' :
SAN 70SE, Cat, Aug. 27.-WV
Frankle Santos, 1 3 7, San Jose,
repeated hia victory of a "week ago
tonight by drumming oat a ten
round "decision over Leroy ; Gib
son,'. 124, Wichita negro, In the
xniun event here.
CarSmashup
Trio Who Will Direct Program .
Under New Social Security Law
V iJ :
v Si
I t
t t
7
1:7
f
1
x' i v- f ii X 's :
V .?r- u a-
Nominated by President Roosevelt as members of the new social se
curltyt board, John G. Winant, top, cbairman, former' republican
governor of Xew Hampshire; Arthur J. Altmeyer.of Wisconsin,
lower left, and Vincent M. Ules, lower right, Arkansas attorney,
have charge of administering old age pensions and unemployment
insurance. - -
DEC S OH UP TODAY
OIK BB6 OFFICE
Retention of Schramm is
Urged by Bankers But
Others in Field
Whether A. A. Schramm will be
retained as state banking super
intendent will probably be decided
here today when the state bank
ing board meets. State Treasurer
Holman, who with Governor Mar
tin and Secretary of State Snell,
comprise the board, said late yes
terday that the meeting had been
called.
State and federal bankers
throughout the state have Dressed
hard for Schramm's reappoint
ment. He was first named to the
office by the late Governor Pat
terson and the other members of
the banking board. He was re
appointed by the state banking
Doara after Governor Meier took
office although Fred Callister ot
Albany was put forward for the
Job.
Pressure Exerted
For Portland Man
Strong pressure was said to
have been put on Governor Mar
tin to favor a Portland man for
the Job. Democratic leaders are
said to oppose Mr. Schramm's re
appointment since he is a life-long
republican.
Secretary of State Snell md
State Treasurer Hqlman are both
saja to xavor Schramm's reap
pointment but are unwilling. It
was stated on good authority, to
(Turn to Page 2, Col. 2)
Henry H. Vandevori Called;
- Pioneer, Veteran Alderman
Henry Heaton Yandevort, 8,
manjr years a Salem city council
man, resident here 45 years and
a native of Polk county, died
shortly after 11 o'clock last night
at Salem Deaconess hospital
where he underwent an operation
Monday. He had been in ill
health for several years and un
able to attend to his duties as al
derman for several months.
Before and after he waa olfvtorf
to the council, yandevort made
sponsorship i the liquor prohi-
oiuoa movement one or nis eniei
public interests. His political ac
tivity enabled him : for several
years to control an Important
bloc of votes on the council.
Born In Oregon of
Pioneer Parentage r
Yandevort was born July . 15,
188fr at Brusa . College, Polk
county. His parents were W. H.
and Emily , Yandevort, who came
to Oregon from . Ohio by wagon
train in 1852 and 1853, respec
tively. He attended school at
Brash College, at Willamette uni
versity and at a Portland busi
ness college but returned hero ttf
spend his life.
, Retaininc ownershin of Ttrnnh
. College farm, lands bought by his
.A
a
S5 !-.i:vv-v.y.-..-...5.
I ETHIOP CAUSE
Desert Italian Side; Haile
Selassie Portions Out.
Reserve Munitions
ADDIS ABABA, Aug. HHJPf
ReporU of the desertion of sev
eral thousand Somali troops to the
Ethiopian banner reached Addis
Ababa today as Emperor Halle
Selassie began quietly to pass out
reserves of arms to his black war
riors.
The reports said the Somali
troops had fled to Ethiopia and
Italian authorities had demanded
return of their rifles.
Some of Haile Selassie's muni
tions were drawn from secret un
derground chambers built by Em
peror Menelik II, uncle , of Haile
Selassie and victor over the Ital
ians half a century ago.
Other supplies came from an
cient monolithic churches in nor
thern Ethiopia, hewn from solid
rock. Although religious services
are held daily In these Quaint
churches, priests see no harm In
storing ammunition in the cellars
because a war against Italy would
be regarded by them as "holy
war."
The emperor also ordered emp
tied other secret ammunition
caves in the interior, dating from
the 14th and 15th centuries.
The Gallas, who are considered
the fiercest tribe in Ethiopia,
were suppued with modern rifles
The warriors are . proud of the
shining firearms. Their previous
rifles were rusty and antiquated
father, Yandevort moved to Sa
iem m 1830 and here for serera
years worked for Wellers' and
Tom Burroughs" rrocerlei. H
married Emma Yan Fleet, an Io
wan, in 1895. Farming and sheep
raising became - his major busi
ness interest, which he followed
uniu his death.
Prominent Worker -In
Methodist Church
Yandevort Joined the Methodist
cnurca at Brush College in 188
and subsequently transferred to
the First Methodist church In Sa
iem. He served for- manv Tears
as a member of the official boasd
of the latter. He also belonged I to
the Masonic lodge and the Shrine.
Surviving are the widow, Em
ma Yandevort; three sisters, Mrs.
K. it. woods.' Mrs.. Grace Lehman
and. Lydia Lehman; a daughter.
Mrs. George R. K. Moor head, all
ot Salem: nenhewa and nieces.
Walter C. Wlnslotr 5 and -Frank
Wlnslow of Salem; George Wins
low of Tillamook; . Mrs. . Helen
Whitney of Brush . College and
Elva : Kelson. , Of r Los , Angeles,
cam.
Funeral arrangements are fn
charge of the' Clough-Barrlck
company. ...... .
Ml
FUNDS IN SI
ECTS
Money to Start on Social
Security Probable But
May Lack Portion
Exact Source Not Settled;
Pension Chief Bitter
Against Solons
WASHINGTON, Aug. 27.-OPV-
Out of the money talk that filled
white House conference today
came word that most of the new
deal projects endangered by the
adjournment filibuster of Senator
Long (D-La) would be saved.
The third deficiency bill, carry
ing funds for the administration
of eight new acts, died under a
barrage of words from the Louis
iana senator.
May Lack Help For
Mothers, Cripples
Senators and house members
emerging from a long conference
with President Roosevelt today, at
which they reviewed the problem
of finding cash elsewhere under
the watch eye of Comptroller
General J. R. McCarl, said they
were confident that funds would
be obtained to:
Start the social security act go
ing, but perhaps minus aid .to
crippled children, mothers and the
blind.
Set up machinery for the rail
road retirement act
Take care of bus and truck reg
ulation.
Put into operation the new al
cohol control act, the labor rela
tions board, utility regulation and
the Guffey coal law.
Continue the operation of the
Bankhead cotton act.
These were the chief operations
that had been endangered, al
though there were almost a dozen
other items carried in the supply
bill. Leaders indicated the most
important of these would be taken
care of.
Decision on Source
Not Yet Reached
No definite decision on the
source of the money was announ
ced, but indications were given
that most of it probably would
come from the 14,880,000,000 re
lief fund.
Officials believed it would re
quire only about $26,000,000 to
finance the security program un
til congress gets back in session.
In their studies of the law, they
have reached the conclusion that
at least ten and perhaps 16 or 17
(Turn to Page 2, Col. 3)
ED
T
WASHINGTON, Aug. ll.m
Congress disbanded for a long-delaj-ed
vacation today, but with
hope for a short and easy session
next year smothered by a mass of
unsettled problems.
A tough and probably prolong
ed election year assembly was
projected by such left-over issues
as NRA legislation neutrality.
cash bonus, inflation, social se-'
curlty and farm relief.
Conflicting claims came from
the departing leaders as they re
viewed the accomplishments of
the session which died inglorious
ly at midnight last night with
Senator Long's (D-Ala), filibuster
blocking action on the 2102,000,
000 third deficiency bill.
Senator Robinson, democratic
leader, in a statement written for
the Associated Press contended
that "practically .every problem
that. touches human Interest has
been made easier of solution by
the legislation enacted."
On the other side, Senator
Dickinson (R-Ia), in another
statement to the Associated
Press, forecast the session wonld
be remembered for "ill-advised
legislation," extravagant appro
priations and 14,000,000,000 for
work-relief "waste."
Joan Dickson is
Named Queen of
' Big Hop Fiesta
INDEPENDENCE, Aug. 27
( Special ) - J oan Dickson was to
night proclaimed queen of the
second annual hop fiesta, when
the results of the recent contest
were announced to a crowd of
three' thousand people attending
the big street dance. Miss Dick
son was sponsored by the Horst
company.
Six princesses, who held the
next positions when the votes
were counted, were -named as the
following: Lucille Anderson,
sponsored by the valley Junction
Service station and cafe; Mar
jories Waters, sponsored by "the
Dallas chamber of commerce and
Klwanis club: Helen-West, spon
sored by Fred - Meyer, Inc.,' Sa
lem; Kathern , Hartman.. s p o n
sored by Mountain States Power
e o m p a n y: - Kathryn Cochran,
sponsored- by Frank- Ellis - club;
and Muriel Cooper, sponsored by
the K. .OC P. lodge. ,
LENGTHY
SESSION
on
Wili;Be.Queenr
mOiHop'Fiesia
: , i
1 - V
Miss Joan Dickson, chosen in the
balloting conducted during the
past several weeks, to reign as
queen over the Independence
Hop Fiesta which opens Thurs
day. ITALY IS PBEPABED
Huge Fund Provided; Laval
Seeks Definition Which
Will Save League
ROME, Aug. 27. -OP) -Italy's
financial condition permits hor to
contemplate waging war indefi
nitely whether in Africa or Eu
rope informed sources asserted
tonight.
So well lodged was this con
viction In the minds of Informed
circles that they believed Italy
was financially fixed to meet not
only the drain of an Ethiopian
campaign, but to confront any
European eventualities.
This conviction was based on
words recently attributed .to Pre
mier Benito Mussolini, asserting
that the Italian people have al
ready so proven their willingness
for self-sacrifice , that they could
come through any contingency.
Prolonged Campaign
Not Deeffled Necessary
The informed sources explain
ed, however, that Italy does not
(Turn to Page 2, Col. 3)
100 Degrees
Peak Hit for
Second Time
For a second day the thermom
eter at the weather station here
touched the 100-degree mark yes
terday, giving the lie to the wea
ther bureau's word Monday of a
cooler day in prospect. The same
prediction was made for today
and Thursday, with higher humid
ity.
The thunderstorm forecast Is
sued Monday for today was alter
ed yesterday to apply only to the
mountain regions. Partly cloudy
and unsettled was added to the
local prediction.
Light, variable winds gave scant
relief from the heat and humidity
which generally became topics for
complaint yesterday. The mini
mum temperature was 59 degrees,
11 points above that for Monday,
and the mercury at 12r42 a. m
today stood at 67.
Pressure Kept Up
The city water department was
experiencing difficulty in keeping
np the mains yesterday but early
last night was maintaining it at
80 pounds, ten pounds above that
at the sprinkling .period Monday
night. Normal pressure Is 90
pounds.
Manager C u y 1 e r YanPatten
said the condition of the filter
beds on Minto's island, made It im
possible to pump water fast
enough to meet the rush period
demand. Steps to remedy this sit
uation undoubtedly wlll .be taken
before next summer, he said.
MS MOSTLY!
With approval expressed In
nearly, every case many letters
from alumni of Willamette un
iversity hare been received at the
university offices relative to the
moving of the campus to a new
site where new buildings would
be erected. ,
Most of the "alums' have ex
pressed respect for .the near 100
years of tradition and sentiment
that surround the present site but'
realise that a new campus and
new buildings' would aid greatly
in the. progress of the university.
That future generations of . stu
dents should not be hampered by
the sentimental feelings -of old
grads for the old campus is the
idea given by many of the letter
writers, ii-- c-,
'Few, have written disapproval
of the' proposed mover Several,
however, ' have written, that It
would be a shame to abandon the
historic site which ' has , been the
home of Willamette since Jason
Lee, pioneer -Methodist mission
J. ary, founded the school in 1842.
WAR
dBist,
steeves case
Elaine Hunt Will Waive All
Right to Income Under
Estate, Declares
Way Believed Cleared For
Upholding of Claims :
By Legal Heirs
All claims of Elaine W. Hunt,
26, to a 1100 a month life income
from a private trust set up by the
late Dr. B. L. Steeves, will be
waived by Miss Hunt, she declared
last night at her Portland home.
Mrs. Sarah H. Steeves, widow
of Dr. Steeves and holder of a
life Interest In his estate, brought
suit in circuit court here late -last
week to set aside the trust for
Miss Hunt, claiming the trust vio
lated the common law rule of per
petuities and was also vague.
Miss Hunt declared in Portland
last night that she would take no
action to defend her rights to the
trust. She would not expand that
statement.
Trust Would Cease
When Girl Slurried
Miss Hunt is a grandniece of
Mrs. Steeves and for a time lived
in the Steeves home here on Court
street while she attended Willam
ette university.
It was' understood yesterday
that Miss Hunt was paid $100 the
first month after Dr. Steeves died
but thereafter she obtained noth
ing. The trust set up for her by Dr.
Steeves provided that all her in
terest therein would cease when
and if she married. The interest
of the doctor In setting-up the
trust, according to that document,
was to provide Miss Hunt with
funds for travel and for other ed
ucation. Securities in the trust have a
par value of 2150,000 and include
a large number of South Amer
ican bonds. Before his death Dr.
Steeves encumbered the trust
with a loan from a Portland bank
which now Btands at $33,000.
Since the first month's payment
was made to Miss Hunt all income
from the trust has been used to
pay principal and interest on the
debt against the trust.
Presumed to Clear
Way For Legal Move
After the death or marriage of
Miss Hunt the principal was to go
for life to Mrs. Steeves and there
after was to go to his surviving
heirs.
The trust was not included
(Turn to Page 2, Col. 5)
In
TO BE DETERMINED
The final amount the city will
pay to Baar & Cunningham for
engineering services in connection
with acquiring the water system
may be determined at a meeting
Friday of the council utilities
committee. Mayor V. E. Rhn,
City Attorney Chris J. Kowits and
John W. Cunningham, Alderman
Walter Fuhrer, utilities chairman,
indicated late yesterday following
a visit by Cunningham. The sum
khe engineers asked was not di
vulged but was believed likely to
be several thousand dollars above
the approximately $4000 the en
gineers reported due them last
May. - - ,
Fuhrer said he hoped the mat
ter might be settled promptly and
the final bill presented, to the city
council at Its meeting next Tues
day night, .
City warrant records show 23 4,-
081.22 -expended since 1929 on the
water deal aside from the $1,-
010.599.60 paid the water com
pany for the plant, supplies and
Improvements. It was not believed
yesterday the total expenses, aside
from payments to the company.
would exceed $4 3,000.
Reed and Two
IE
PfflENT
Futile Gesture at Escape
Albert W. Reed, convicted for
a share in the slaying of Victor
Knott, Ashland policeman, early
in 1932 and frequently In the
limelight - since through his ef
forts to obtain a release or a
new trial, sought release in a
new fashion early Tuesday night
when he and two fellow convicts
in the Oregon penitentiary made
a rather-vague gesture toward es
cape. thought better of Jt ' and
surrendered to guards. ' - :
Associated , with Reed In this
escapade were William ? Ham
mond ; and 'Stephen' Chink, each
serving fen years for assault, with
Intent ; to rob, Hammond was
sentenced from Multnomah coun
ty and Chink from Coos county.
Overpower library
Workers, Reported -
Reed, works in the chapel and
the other two in the cell blocks.
At the time for nightly lockup,
as the case was pieced together
by. Warden . Jim Lewis, these
three, instead; of going; to their
Speeding Up
Projects Stressed al
Annual D
World News at
a
uiance
(By the Associated Press)
Washington:'
U. S. at crossroads with Rus
sia, looks to president to direct fu
ture course as Moscow rejects
protest note.
New deal leaders after White
House conference confident of
funds for program blocked by
Huey Long's filibuster.
TVA and AAA tests brought to
supreme court.
Report house ordered - Investi
gation of Huey Long's Louisiana
dictatorship-"...
Other domestic: f
JACKSON, Miss. One slain.
fourVounded as voters pick gov
ernor in run-off primary.
DETROIT New auto workers
union rejects A. F. of L. presi
dential candidate.
NEW YORK Tax charges
against former mayor dropped,
paving way for his return.
Foreign:
ADDIS ABABA Italian colon
ial native troops desert to Ethio
pia. ROME Italy s finances held
sufficient for extensive war; II
Duce harangues troops.
VIENNA Minister Fey escapes
death In auto crash.
E
Formal Complaints Will Be
Made Out For All Who
Fail to Report
City officials long - delayed
move to force motorists to go to
municipal court after their cars
are tagged for violating parking
regulations got under way yester
day when Judge A. Warren Jones
turned back to police a large num
ber of traffic tags, which in them
selves are not legal complaints.
Police were having formal com
plaints drawn against the violat
ors.
Upon receipt of the first batch
of these complaints, in the next
few days, Judge Jones intends to
follow the customary court pro
cedure of Issuing bench warrants
for the arrest of the errant mo
torists. Police will then bring
them into court.
While probably several hundred
traffic tags have gone unanswer
ed in court, many of them are be
ing found to apply to out-of-town
motorists. Judge Jones said a
preliminary survey indicated a
(Turn to Page 2, Col. 1)
T
HONOLULU, Aug. 27-flVThe
Pan-American Airways clipper
flying boat hopped from Pearl
Harbor for Alameda. Calif., at
2:59 p.m. today. 8:25 p.m. east
ern standard time). '
Weather reports for the entire
route were "very good, with
the take-off made under clear
skies as a stiff breete churned
the Pearl Harbor channel water.
The clipper made a clean'JUke-
off after cutting through the wa
ter for 400 yards. Carrying no
cargo, the plane, was staffed by
the same crew as on' - previous
flights. Captain R. O. D. Sulli
van In command, estimated the
flight to Alameda would require
II hours. -
Pals Make
mT1i sneaked Into the library.
There three convicts, Frank
Farley, Rex Mead and Hamilton
Marnell were arranging books to
be distributed to the cells. The
would-be fugitives overpowered
these men and bound them; Then,
apparently, they thought better
of the whole -matter and calmly
walked out, to be taken into cus
tody by guards. V- -
Warden Lewis was at a loss to
figure out just what the men's
plans were. - From the library,
they could have gotten -nowhere
except Into the stockade, where
they would Most likely have been
shot down by guards. . ' - -
- Reed has -repeatedly- claimed
that he had nothing to do with
the slaying of Officer Knott,
thought he has admitted having
h In th comnan v previously
of two men who he says are .guil
ty, and wno : nave neyer neen ap
prehended. He was recently de
nied clemency by Governor, Mar-
HI
NEW
CLIPPER HOPS FOR
CALIFORNIA COIS
o( School
istrict fe
Rumor About Closing
Of Grant Denied;
Protest Seen
Budget as Drafted at
Previous Meeting
Isn't Changed
Four taxpayers turned up to
form an unusual "crowd" at the
Salem school board's annual citi
zens' budget meeting last night
but it developed they came not to
slash the budget but to investi
gate a tumor racing about vh
northwest part of the city to the
effect that Grant grade ' school
was to be closed. They went horn
with the directors' emphatic de
nial .that such a move had bee
discussed or contemplated.
The committee of four. Wil
liam Gablsdorf, spokesman, said,
came in favor of the projected
building program but desired that
'we just get a fair shareil' when
school funds are expended. Direc
tors Frank Neer and Mrs. David
Wright are to confer with Grant
school, patrons relative to Im
provements to building and
grounds.
Budget Approved
Without Changes
Gahlsdorf was drafted to serve
as chairman oi tne taxpayers'
meeting and the budget as adopt- -ed
August 5 by the citizens' bud
get committee was approved with
out change. It calls for an expen
diture ot $382,589.29, receipts
other than from local taxes 39,-
700, district ta for current ex
penses 2225,189.29 and local tax
for debt service 217,700. Other
representatives from the Grant
area were Arthur B. Bates, I.
George Lewis and Floyd M. White.
Harried by repeatedly advanced
deadlines on PWA applications,
the directors spent more than two
hours discussing procedure to be
followed In seeking a loan-graat
for the proposed million dollar
building program. It was agreed
the preliminary ' application and
(Turn to Page 2. Col. 5) -
J. M. Devers request for a
change oKsone for the southwest
corner of Tj6th and State streets
to permit construction oi a cuon
type apartment building last
night for a second time 'received
the approval of the city and plan
ning and zoning commisetoo.
Once recommended to the city
council and referred back after
A. A. Lee had protested the
change, the petition now win re
turn to the council for final ac
tion next Tuesday night.
Displaying a drawing of the-
proposed structure and explain
ing its purpose, Devers led Lee
last night to revise his Judgment
somewhat, although he persisted
in declaring "jrpX are taking that .
corner out of 'a family residence
district and others will extend tt
until it becomes an undesirable
residence district. - -
Devers' preliminary plane call
for a two-story, colonial type
frame structure containing- ap
proximately 24 small apartments,-
It would face on State street. Dev
ers said It was planned to "ievite
a better class of tenants and .
neighbors' and cater to single
persons. v . ; :-h -
IF,
MARKETED BY fC
HE CHANGE MS
BO ffl'SiP PROVAL
WASHINGTON, Aug. 27-Jr-In
a new move Intended : to ca
courage construction ; of c w
homes and assist the housing ad
ministration, the - Reconstruct
Finance ' Corporation announced -today
it will buy and sell insured
mortgages. T '
Chairman Jesse H. Jonee said
a 110,000,900 revolving fund
had been made available te the
RFC mortgage company tor thJ
purpose.
. - Some officials attributed the-,
new plan to Inability of the fed
eral housing administration to
get national mortgage loan ass-
clations' started by private . capi
tal. - ' - . ,
Two weeks ago Jones Informed ,
the ' administration that WC
would supply halt the capital for v...-.
Mortgage Loan association '-- tt
private Interests would put up
the remainder, The RFC mort
gage company originally wa
formed' to finance- loans
apartment houses, office bwlM
Ings and other: large structures
under; as .RFC ; act amendment ,
permitting loans up to fllt.tlO r
on such property.