Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-07-23
MORTGAGE RELIEF
HELPS WISCONSIN
. BANKS DREOPEN
State Awaits Wit OF Nor
genthau for ArIey on
Refinancing Mans.
BY WILLIAM I. NIUE. :
Special Dispatch to The Star.

Special Dispatch to The Star.
MADISON, Wis. July 22With farm
mortgage reflnancing progressing at an
encouraging rate, several hundred
banks. closed or operating 4 . re-
stricted basis, may be open fosnormal
banking operations within the Axt few
weeks, reports from the State Sdulin-
istration indicated this week.
The Farm Credit Administered ton, of
which Henry Morgenthau, jr., isIhead,
expects to refinance 500, 000, 900 worth
OF Wisconsin farm mortgages. lrgely
held by the banks. This operation will
thaw out a goodly portion Of the bAnks'
frozen assets" and renew the liquid
position Of the banks so that hey can
safely do business on an unrestricted
basis.
Considerable interest is attached to
the visit to be paid Wisconsin by 4r.
Morgenthau on July "a. Morgenthu
will confer with State banking aid
agricultural department oficials as o
the workings OF the reflnancing plan,
for which Wisconsin has been chos@
as q testing laboratory.
Gets Big Roads Fund.
In another field Of mortgage reid
developments are also coming IN rafin
succession. The appointment Of James
r. McQuillan of Amigo, Wis, to be
home mortgage director for Wisconan
started the machinery for refinanchg
mortgages on urban homes. A centrtl
Office for this purpose Is to be set y
in Madison, with branches in threI
four, or more other cities in the Stat
AS organization work went forward
Id cit aI 10 ~
ington to confer with officials there.
Northern Wisconsin, locale Of several
Indian reservations and possessed OF
hundreds Of thousands of acres OF
forest and cut-over land, welcomed the
news that $212,000 had been allotted
for forests, parks and Indian roads ir
Wisconsin out of the first $115, 900 ,00C
in Federal public works funds released
Senator Robert M. La Toilette, jr.
who is summering at the La Toilette
farm near Madison, feels, however
that there has been too much delay In
starting the public works program. He
has sent two kilograms to washington
one to President Roosevelt and one to
Harold Ickes, public works administra-
tor, urging speed in the $4,000, 600, 00O
public works program. Here IN Wis
consin we are ready" the Senators
Wisconsin has virtually completed plans
under which Federal funds will be used
Last-minute efforts Of the admins
tration of Gov. Schmedeman. Wiscon-
sins first Democratic Governor in 40
years, to rush a sales tax on cigarettes
through the closing hours of the Legis-
lature failed The measure was pro-
posed as a budget balancing necessity
Instead, however, chain store tax was
enacted just before adjournment to
provide needed revenues.
Military Training Bill.
AS the Legislature cleaned up its
work and legislators packed their
''plunder boxes" for the trip home, they
left one bill on the Governors desk
which is causing a storm Of protest
throughout the State. The measure is
a coalition bill sponsored by the stall
wart Republicans and Democrats and
provides that compulsory military
training be restored to the University
of Wisconsin. The compulsory feature
usual in all land grant schools, was
abandoned here in 1928.