Evening star., 1934-08-19
LOAN BODIES CALL
HOUSING PARLEY
Conference Set August Is
to Press Federal Improve
ment Campaign.

Carrying forward the adninistra-
tions housing drive, a modernization
conference has been arranged by the
saving and loan associations of the
Eastern Seaboard States in New York
August rs.
More than 1000 officers and d.
rectors of the lending agencies, the
Federal Housing Administration an
nounced yesterday, will meet on that
date to hear Roger Steffen, director
of rnodernization credits of the hous-
ing administration. In conference will
be the presidents and other officers
of the leading institutions as fol-
lows:
Maine League Of Loan and Building
Associations, New Hampshire Building
and Loan League, Vermont League OF
cooperative Savings and Loan As
sociations, Massachusetts, Co-opera-
tive Bank League, Connecticut Build
ing and Loan League, Rhode Island
Building and Loan League, New York
State League of Savings and Loan AS
sociations. New Jersey Building and
Loan League and Pennsylvania League
of Building and Loan Associations.
Looking for Results.
AS the first conference of major
Importance planned in connection
with the home modernization project,
ofiicials of the housing administra-
ton are looking for tangible results.
Each man attending the meeting will
be representing an institution, the
major function of which Is the
financing of homes.
George M. Bode. president OF the
United States Building and Loan
League, will be chairman OF the con-
ference and the tentative program in
cludes the following subjects and
speakers:
economic Soundness of Modern1za-
tion," Legrand w. Pellett, second wee
president, United States Building ana
Loan League.
"The Federal Modernization Pro-
gram" Roger Stefan, director OF
modernization credits, Federal Hous-
ing Administration.
Discussion: E. Harrison MorrlA'
president, New Hampshire Building
and Loan League; z. s. Anthoine,
nresident, Maine League OF Loan ana
Rrilding Associations; Fred G. Stickel,
president, New Jersey Building ana
Loan League.
"Capitalizing Our Present Oppor-
tunity," I. Friedlander, hrst wee
president, United States 5uiioins
and Loan League.
VIII Lead Discussions.
Discussion-Edward II. Weeks,
president. Rhode Island Building and
Loan League; Robert A. Cooke, presi-
dent, Vermont League of Cooper
atiye Savings and Loan Associations;
8. L. Caum, president, Pennsylvania
League Of Building and Loan Asso-
Citations.
insurance of Shares" Morgan
Bodfish, executive. vice president,
United States Building and Loan
League.
Discussion-Fred w. Herendeen,
president, New York State League OF
Savings and Loan Associations; Wal
ter p. Schwabe, president, Connecti-
cut Building and Loan League.
National Advertising Campaign"
Firmor Cannon, chairman National
Advertising Committee. United States
Building and Loan League.
DiscuSsion-Raymond P. Harold,
president, Massachusetts, Cooper
atiye Bank League.
Construction Allowed.
The National Lumber Manufac-
turers' Association meanwhile point
ed out that Improvements upon
real property" as used in section 2
OF the housing act, has been construed
by the Federal Housing Adninistra-
tion to mean, when applied to farms,
new construction as well as moderni-
zation and repair, provided the struc-
lures do not exceed $4,000 in cost.
Under this ruling, it explained, a
farmer will not be limited to repairs
of existing farm buildings under title
/ of the act, but may have a loan
insured for the construction of new
barns, live stock buildings and other
farm structures.
This ruling, coming at a time when
the economic position of agriculture
has been suddenly reversed by the