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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Sept. 23, 1934)
PAGE FIVE L an rn READY TO PROVIDE uu MEDFORD MATL TRIBUNE, 'MEDFOKD, OREGON, SUNDAY, SEPTEMBER 23, 1934. Lending Agencies Given Complete Instructions By j Federal Housing Adminis tration On Loan Making ; . Modernization Loans now are being : made to many property ownes by t ' banka. trust companlea, finance com ' ' panlea and other lending Institutions In all sections of the United States. !. Each one of these several thousand ! - lnatltutlona has been sent complete ' instructions on how to handle and Issue these loans. The Federal Hous ing Administration already has for mally approved the applications of a considerable number. Reports have reached the Adminis trator's office that some institutions already hare arranged loans, waiting only for the official forma In order to complete them. First official Information concern ing Modernization Loans was given by the Federal Housing Admlnlstra t tlon to these lending Institutions, ' James A. Moffett, administrator, states, because It is realized that their .., active cooperation la a vital part of the program and essential to Its suc cess. F. H. A. Does Xot Lend I This Is true, it was explained, be- L , cause the money does not come from S the Federal Housing Administration, E but from these private Institutions. Banks, trust companies, finance building and loan associations and similar organizations actually pay out the cash for the repairs, alteration", and modernization of the home, atore, shop, factory, garage, barn, or other building to be improved. Two other essential functions at the same time are performed by these institutions, ; , besides lending the money. One is to pass Judgment on the necessity or advisability of the Improvement pro posed by the property owner. The other 15 to pass Judgment on the character and financial responfilllty of the borrower, that Is, his willing ness and ability to repay the loan when due. For regulations of the Federal Housing Administration re quire that Modernization Loans must be on a strlclly business basis. The ' borrower is expected, and will be re- . quired, to repay the loan in regular and equal installments. The bank is 1 expected, and will be required, to be reasonably sure that the money will 7 S be paid back. I According to present plans, the granting of these loans will be left entirely up to the lending Institution, without supervision or Inspection from the Federal Housing Administration And Acting Comptroller of the Cur rency F. O. Await has assured Ad i mlnlstrator Moffet that this type of loan need not be classified by the na tional bank examiners "as slow. doubtful or loss so long as auf flclent Insurance reserve exists to cover them." What F. H. A. Docs Two very Important functions ire : performed by the Federal Housing .;' Administration itself. It provides In surance without cost to cover any V probable loss to the financial Insti tutions and thus contributes its share to make this type of paper (notes covering Modernization Loans) a dls- ; . tinctive Investment. It assures ilquld- 'i ity by a agreement. Incorporated In the Contract of Insurance, to advance cash to any financial Institution dem onstrating the need for it, at any f time, up to the full face value of all outstanding Insured notes In good ; standing. There Is no regimentation or com pulsion in any part of the program ' of the Federal Housing Administra tion, It la pointed out. Its success de pends entirely upon the voluntary cooperation of the property owners, ; the lending institutions, the build ing industries and trades and other ; related Interests. But the benefits of the program's success will not. be limited to the property owner, the bank and the ! builder. It Is felt, but will be shared by the country as a whole. NEW ROOFS OVER OLD PROVIDES BIG SAVING When rerooflng a house. It Is some- times advantageous to select a roof- ; lug material that can be applied dl-j rectly ovei the old roof. "Over-rooting." as this process Is termed. Is a j method that la practical, economical i and profitable. j The and expense of removing! the old roof Is eliminated. The ease end simplicity of applications is greatly Increased Uttering of the lawn It avoided, and the home Is complete;? protected from any pos sible damage St Inclement westher 4'inni the operation. A double roof is the result of this method, which offers Increased pro tection from storm damage, ind a:ts aa an inauiatlon. enhancing home cr.mfort bots IB winter and summer. HecoDdir.o.nng money mat he bor rowed. If deelred. from any local fin ancial institution authorlred b? the rederal Housing Administration to make luane Insured by the Oovern m.nl a that no home owner need neg'eot tula important item of un ptotron Thl and sunliai improve ments ahriuld be sttended to Immedls taiv. tfore the rawwes of winter tnsie them impossible and doubly Important. - I Heinodellna tri AMI M.-.itr Aa comfort are not the soil Mu'si H-1" 'Itrfyh nnWIliK Mn s k-m lil-.y n t rwntwtod ;:io a pirn Inveet-tteal. son pipe 1 i4irw Sfff $s s 1 .oo , vlk t ; SfffiM have fittings, I " 1 ' Y, too. s-ft. lencllK. tfft 'J&fc&ar,'' rC i ,T. f 3 W j Laundry Tub On-Pict Granite Composition Leak- proof. MetaJ bound edges. None better made. .95 without I'll t Insi V Wood Heater Top one! End feed Doors SteeU Cast-iron fire- , potl 1 to 2 , rooms amply $14-95 oeatea. Wood Heater Extra Wefl So.7f for This Low Print Rigid steel body, double earned top and bottom! 1 .75 Stovepipe Heavy Oanited Blue Steel! -ln. self-locklnR. 20c Taper P'P Bot., fi-ln. Top, 2-ft 30c Ptoveilpe i;llow, each Vir Stovepipe UnmpT, ea h 'I3r Wood Basket Avtiqo Bna-Hommond Fluid I Strongly ri- I d Lis-ht-wnKht. easy to handle. .19 Hi mm Jr . Who Are Ward's PIECE llrsr quallt v think or If. at tills low price! The enamel ware, china nnd all chrome-plnted fit 1 1 are Just Clint! YrtM Rft a roomy tub and lavatorv. MlMon oh elosct. liand-rulihed ma hoxanr finish seat and minv other features, ttuv pieces separntelr. If von like. 3-4 Room I ' ' , - . ' - - - : - C ' : v A Water System $ IK 0.9 5 1 Ss Electric I Automatic I Pumps s.l nmvn g i 250 gals, an hour. 18 gal. W Monthly sl tank. Low running cost. Small Carrying Chargo g- rni Septic TocJ I Kj'lS-'? 1 Monthly II 'Jltt Carrjlns 'lmrge MM fM Safe and long lived! Made of M v 5. ') PP1- bearing steel. Easy to p I j'JM install. Ask us details. r , . . . . vmssMSWM, ft .-- i..- ., . - . -. ; ,. ; - y,:-&x.sw& Modernizing Under the National Housing Act Give Complete Estimates FREE and Offer BIG SA BATH SET S A II .75 Down SJS Montlllv Small Carrying Charge Pieces separately: Tnb, $25.25 Xavatory, $10.85 Closet, $14.00 Vood Heater $33.95 $4 Down ft.! Monthly Small Carrying Charge Heavy steel and cast-iron con- tructionf Big door for big wood I Circu- late healthful heatt Cooking lid under top. be it now I Western Steel Range 1.95 1 lnn. fi Monthly Hmill Carrvtnit Chnrce Quick heating I Steel body with asbestos in. aula t ion! Satin smooth griddle topi Dig 18-in. oven I Por celain enameled doors. u VINGS On Your HOME REPAIR Shower All Chramivm Plattdl Newl Roomy oblong a . frame. Easy to SI "J llQ install. Spray W .f is just right. sf Range Boiler Galvanized Intldo and Out Pressure test . d to twice Si 1 .00 needed capa- W I I "UU cityl Sturdyl 30 rials. Roofing Brush Mokes Roof Coaling EosW 3 bristle of sssj ne, heavy acock se- E17 A carely set in ZU wood block W W Kalsomine BoauUfyaWholo Room with IPke.l Quality! Easy to mix, easy to use. 16 pastel shades. 35 fl-lh. pkr. Floor Varnish Uoowallf Good Vaivl D r 1 s in hrs. I Durable. Gal. c o 400-600 sq. ft. LINSEED OIL $ A .10 Pure Boiled. Gal. I TURPENTINE $4 Pure Qal. I 00 117 SO. CENTRAL. 1 vers . I .Tl "saw W ot rE Jackson County Chamber of Commerce has launched a sweeping drive for this section of Oregon in cooperation with the Federal government's NATIONAL HOUSING ACT. Credit will be extended to any individual,' partnership or corporation to repair and modernize buildings . . . The effect will be noticed in general business stimulation, increased labor and better homes and buildings . . . Ward's heartily endorse this splendid move and co operate with special savings on paints, roofing, and other essentials of home modernization. Here are a few suggestions for home-owners who avail them selves of the Federal loan under the National Housing Act. wp .11. ,,,,, n. ,tW! V wmM I Ho"e Paint itwKfV m CBl 7c f L Compare only with the fin- '" A " ' ' st painta made I Choice of ! fl A n "''.( leading colors and white! II' ,V S JSSMpSM aasxet ZZT) ' Semi-Gloss Paint I W:i. V J X Am '' foer 2.10 f ESS.-'S. Qrfl lt' 2 CM"" 1 5 SL.y"Y? -'-Vv co-JJ Use anywhere Inside wood, f' jLA plaster, metal ! Soft, mellow, k'j, 'M'4i&Jtm colorful. Washable. Quality! -i MEDFORD, w-j;. .iw;. , . Superstate ROOFING $2-90 Roll Com 100 So. Ft t4 br Uniwwrltm' lob. Made to give lasting protection from fire and weather. Bright new colors. Buy your roof at Warda this fall and save I M WardsV4-ln. Plycraft 4' VS.fl. -M..WJ. 6, 7, 8 ft. LengtAi. 3-Ply Douglas fir! Use it to make extra closets, cupboards, and rooms! Smooth, strong low-priced I Durable wallboardl Liquid Asbestos Roof Paint 85i On coat of this as phalt and long-fiber asbeatos coating com pletely seals all small cracks, holes or seams I Will not run, crack, sag or peel I OREGON. (Ml BILL Roll Roofing foil Conn eMSa. Ft Waterproof! 1 .19 I 33-Ih. y or small t auildings, tem porary uses, SS-Ih. Roll raaxoojoN Shingles Lasting beau- M f tyl New col- ST 20 ore. Will not W 1 U twist or curl. war Asphalt Sheathing 500 So, Ft Roll Building P- tj 4 cc per, saturated 0 I .03 with asphalt. I S3-I.h. Roll Deadening Felt Roll contains 450 sq. ft. Low priced! $0.40 mm M-i.b. Roll Truck Paint Prt Mttol or Wood Surfaces One coat cor- ja assa era with high L? 11 f gloss. Nona W "l W better made' 0 qt. TELEPHONE 280
