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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (March 5, 1935)
PAGE SEVEN Farmers Have Opportunity Securing Better Housing Plan Benefits MEDFORD MAIL TRIBUNE. METiFORP, OREGOX. TUESDAY. MARCH 5. 1935. EQUIPMENT NEEDS EASILYJINANCED Can Dig Wells, Construct Ponds Make Many Other Improvements Repay In Seasonal Installments Opportunity for checking the rav ages of depreciation, and of Improv ing farm properties and farm values. Is given to every farm owner In America through the modernization program of the Federal Housing Ad ministration, which has adapted Its regulations to the special needs of the farmers. Together with the city dweller, the farmer has the opportunity under this program to finance, through In cured modernisation loans. Improve ments to all types of buildings and also the purchase of permanently in stalled equipment. In addition, the farmer can dig wells, construct ponds to the farm Itself, and can also purchase any physical equipment necessary to con duct an agricultural enterprise. pro- Tided the equipment Is permanent ly Installed In the buildings or on the land. The borrowing limit, how- Am. .oe for acfc property for tbe r m well m the city dwell- Tbe elty preyerty owir Is require fee resay a modernization loan In meataly Installments. The farmer has the privilege of relaying a loan In seasonal Installments, wttti a least one payment a year. The regulations state that all types of farm equipment are eligible, pro vided: (3) Thej- are permanently attach ed to the necessary structure Itself, or to the wiring, water, gas or sew erage piping systems, or (3) They are permanently attached to the real estate In such a manner that they cannot be removed with out suffering unusual depreciation In process of removal. Rulings on many separata Items are required under this policy. Here are some examples: A water supply system pump and motor are eligible; farm engine epulpment with pump attached, movable from place place. Is not eligible. Fences are eli gible, but snow-breaks, which In some respects are similar to fences, are not eligible. A concrete water trough with a permanent founda tion Is eligible; a movable metal or wood water tank Is not eligible. There are many reasons for the progressive farmer to plan how he may take advantage of the Modern isation Credit system now. Repairs, alterations and Improve ments to the farm result In healthier surroundings, a lightening of every day tasks, and a more livable vlronment for the entire family. New equipment and home Improvements, new paint, additional plumbing and heating conveniences attract the 1 young people. 11GHI CURFEW HOLDS FOR COEDS CORVALLIS. Ore., March . (AP) Curfew shall ring at midnight (as It haa In the past) for co-eds on Oregon Stat college campus. Announcement was made today that the administrative council had unanimously rejected a petition from student living groups for extension of week-end closing hours. Women must be In theler living quartera at 11:30 o'clock Friday nlihtn. and at midnight Saturdays They wanted permission to stay out until midnight on Frldaya and until 1 a. m. Sundays. President O. W. Peavy, announc ing the council's action, said "the feeling was unanlrooua that the pres. ent arrangement Is adequate for so clsl recreation." Bamsn Cellar to Cozy Den i m 1 ' iJr' :yjx."T"t' V 16 Age Pension Pleas Are Eyed Sixteen applications for old ace pensions will be considered today at the regular monthly meeting of the old age pension board, composed of the county court. County Judge Esrl B. Day Is In Salem on matters before the legisla ture affecting public lands In Oregon counties, so the hearings were before Commissioners Otto Caster and Ralph Billings. Use Mall Tribune want ads. r lira Think of It-You Can Buy the D-3-35 FRIGID AIRE 1935 Model With the Super Freezer for only $10450 NO DOWN PAYMENT and up to 3 YEARS TO PAY! Interest Only $5.00 Per Hun dred a Year. We Take Oare of All Financing Details This Is Possible Through the National Housing Act--Take Advantage of it NOW! LEONARD ELECTRIC CO. XT miBmfe oi l ? J It x v - . tea 111 LL1 i I 3 sV r. 1 1 H F -tj tail i BANKS CAN STARE AT E National Banks Have All Necessary Authority State Restrictions On Mortgages Will Not Apply Official! of the Federal Housing Administration this week advised di rectors of state organizations that all national banks approved as mort gagees under the mutual Insurance program of the National Housing Act, have all of the necessary au thority to proceed Immediately to make such loans, restrictive state laws no th withstanding. It was also stated that national banks may proceed Immediately to make loans for residential construc tion maturing In six months or less, with the assurance that such loans will be classed as ordinary commer cial loans redlscoun table at the Federal Reserve Banks, provided the Administration has given a commit ment to Insure a mortgage on the property when the residence Is com pleted. J. P. T. O'Connor, comptroller of the Currency, called attention to these facts In a letter sent to cash iers of all national banks on Sep tember 6, 1034. Oaln Wrong Imprraslon 1 Because of the special efforts to have legislatures amend state laws governing mortgage loans so as to conform to the provisions of the Na tional Housing Act, the letter states, many persons appear to be under the Impression that no bank can make mortgage loans up to go per cent of the appraised value In those states where such loans are restricted to a smaller percentage. These special efforts are being made In 44 states. In most cases with the active support of the governor of the state, to change the mortgage lending laws In order that state insti tutions can take rail advantage of the provisions of the National Hous ing Act. All the national banks in these states, however. It was pointed out, already have full authority to proceed with such loans as soon as they have been approved as mort gagees by the Federal Housing Ad ministration. Provide Securities Bonds, debentures and other obli gations to be Issued by national mortgage associations under Title III of the National Housing Act also may be purchased by national banks for their own account as "Invest ment securities," as soon as these se curities have a publto distribution to Insure their marketability. This de cision was announced by Comptrol ler O'Connor In a letter dated Janu ary 3. 1033. and sent to the legal di vision of the Federal Housing Ad ministration. Special attention also is called to another feature relating to state In stitutions extending mortgage loans Insured by the Housing Administra tion. Mutual savings banks, building and loan associations. Insurance com panies and other Institutions which are members of the Federal Home Loan Bank system may borrow on In sured mortgages up to 00 per cent of their unpaid principal. In the case of other home mortgages, the Institu tions can borrow not more than SO to 65 per cent of the unpaid principal. Oregon Weather. Generally cloudy tonight and Wed nesday; probably light rains north weat portion; local foga south and east portion; continued cold; gentle changeable wind off the ooast. Use Mall Tribune want ads. YES! Now you can have that set of new . . KITCHEN CABINETS BATHROOM CABINETS LINEN CLOSETS, etc. at low cost, correctly design ed and made by expert me chanlcs who have spent many years exclusively on cabinet work. NO DOWN PAYMENT Small, monthly payments, fin anced throufli the National Housing Act, A wonderful op portunlty for yon . . . For complete Information call at TROWBRIDGE CABINET WORKS The Old Reliable, since 190S loth & Grape 8U, rhone 238 Ouurtoay of Jobnaa(aavfUfl These photos show how nnnsrd apace In the cellar was converted Into a cozy reading room by the mafiic wand of modern building. This comfortable room has been created by covering over the old walls with wallboard, laying a new Door over the foundation floor ins, and decorating modexniatically. F ES IN MOST REGIS HOLLY BLDG. MORRIS B. LEONARD. PHONE 427 Farmers are again showing a lively interest In electricity as a source of power for operating machinery of various kinds, for light and for pow ering various household Appliances. Reports of various utility com panies In communities adjacent to rural districts tell of extension of their power lines and of the addi tion of hundreds of new customers. Much of the additional electrical equipment Is being financed under the credit plan of the Federal Hous ing Administration. The increase In the use of elec tricity on the farm Is shown by the fact that more than 644,500 of the country's 6.288,648 farms now use this power In some form. To the average farmer electricity means good light, adequate power for water supply, machinery and radio. The farm wife, however, has long seen the possibilities of apply ing power to kitchen and other household appliances and she wants these labor saving devices Installed I without delay. The farm wife envisions Installa tion of a motor or motors which will, j above all, put an ena m miv wash-day slavery. She wants nutter making machinery and dlah-washlng machinery. She wants an electric re frigerator and vacuum cleaner. But It Is lighting and the Innum erable small uses to which such power may be applied that the power companies see the larger appeal to the farmer. They point out that ev ery home should have electric light, first, for safety, then for the conser vation of health. The Importance of electrlo appli ances varies with the Individual need, but there Is a widespread demand for machinery to run the cream separa tor, butter-maker, feed chopper and water pumps. Most of these appliances are In cluded In the list of ellglbles upon which modernization loans may be made, and all of the apparatus re quired for Independent power units comes under this head. ZION LUTHERAN WILL HOLD LENTEN SERVICE Special Wednesday evening Tauten services will begin this week Wednes day at 7:48 p. m.. at the Zlon Luther an church. Rev. O. P. Kibele. pastor. The title of the aeries of sermons to be given at these service Is "The Remarkable Conduct of Jesus." , lla Operation Mrs. I,yle Carlton of Arcadls Court la a patient st the Community hospital, where sh, re cently underwent an. operation. Cooperating With the BETTER HOMES Program, We Offer COMPLETE SERVICE For Home Owners Who Wish To Take Advantage of N. H. A. LOANS Financing Details We lll rladlv jlvr Information and, If delred. handle the details of financing under the Is'. H. A. . . . ThU provides a low-Interest, convenient-payment loan IMMEDIATELY AVAILABLE so that there will ne NO DELAY In your home modernisation. Free Planning Service We will clartly aW o In planning your home or Improvement In joiif preent hou.c . . . Working plans are made for you without cost. Materials and Workmen The Tfrr bMt lumber value obtainable plus erTre that mill plea J"U. Paint, building hardware, roofing and supplies at uniformly low prices . Experienced norkmen are available through mir office for VOI R Job. Builders' Bureau of Information Li, "ft V&eCjasifcx.al Thl modcrnlallon I "nr4'rvrr "'M uken SJ1 1 demnn- :&itMttvxtit:ximi"v'iM strstion In the 8t i ,-L,,.a Paul, Minn., Hotter Housing Campaiim, hot It reveal, how an 'jnattrar.tlve cottage (below) can be transformed into a charming dwelling (above). Porter Lumber Company mil- South Fir St. Phone 124 HOME OWNERS May Increase the Value of Their Property Add to the Appearance of Their Homes Secure Greater Comfort Through Modern Conveniences ' Stimulate Employment Here ... By cooperating with the Jackson County Chamber of Commerce and National Housing Administration's Better Homes Program This program provide! (or IMMEDIATE FUNDS to horn owners who wish to modernize their property and add con veniences that will contribute to better living I These loans, for a period of from one to three years, are available at mod erate interest. On this basis, modernization of your property is a good investment 1 We Are Cooperating in Arranging for loans under the National Housing Aot and are glad to advise you in your financial matters . . . Your eon tractor, carpenter, painter, electrician, plumber and building materials dealer will gladly furnish estimates on your moderni sation work . . . Take advantage of this opportunity without delay! The First National Bank . A Departmentized Bank COMMERCIAL-SAVINGS-TRUST DEPARTMENT SAFE DEPOSIT VAULTS
