PAGE FIVE
L
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READY TO PROVIDE
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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