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