Evening star., 1934-08-14
BY G.. T. KELLOGG.


Considerable impetus is expected to
be given The Stars $1,000 Better
Homes Contest with the announce
ment that the member banks Of the
District of Columbia Bankers Asso-
citation will be prepared to accept ap-
plications for moderniZation loans on
Thursday
The announcement was made last
night by Frederick P. H. Siddons,
president of the association, after
lengthy conference between members
of the association and officials of the
Federal Housing Administration.
The meeting was held in the board
room of the American Security g.
Trust Co and was devoted principally
to a discussion of technical questions
involved in making the loans under
the new Federal housing act.
Explained by Stefan.
These questions were explained by
Roger Stefan, director of the Modern
ization Credit Division of the F. H. A.,
who outlined the workings of the
Governments plan, and by his as
sistant, Ernest T, Manquin, who an
swered series of questions on the
purely technical phases of handling
the loans.
The District bankers agreed upon a
uniform procedure so that any appli-
cant may apply at his own bank with
the assurance that he will get the
same treatment he would receive at
any other member bank of the asso-
citation. This procedure was presented
by Francis G. Addison. jr., chairman
of the associations committee named
to study home modernization and I'M
provement loans
Banks in the District of Colum-
bia," President Siddons said, will be
prepared to accept applications for
modernization loans under title l of
the national housing act on Thurs
day, August 16."
Aid for Nearby Sections.
Action of the bankers yesterday will
not necessarily confine the benefits of
the loans to residents of the District.
since many residents of nearby Vir-
ginia and Maryland conduct their
banking business inside the city.
Action similar to that taken by the
bankers association1s expected to be
followed by adoption of similar pol
icy by building and loan associations
and other financial houses.
Arlington and Montgomery county
banks also are expected to follow the
example of the Capital bankers so
that nIItluiY10
share the benefits offered by the Gov
ernment.
Announcement was made today Of
the appointment of Francis G. Addi-
son, jr., as liaison officer in the Dis
trict for the housing administration
and the American Bankers AsSocia-
ton. President Of the Security Saw
ingS & Commercial Bank, Addison
! has served for several weeks as chair
man Of the Housing Committee of
the District Bankers Association.
Other Officers Appointed.
AddlSon'S appointment was made
concurrently with the announcement
OF llaison officers for the various
States. T. H. Fitchett, vice president
Va -ANASoSAS IL uoC w., odltlIIlOre,
was appointed for Maryland, and T.
c. Boushall. president, Morris Plan
Bank of Virginia, Richmond, will
serve in the same capacity for Vir-
ginia.
In order that home owners of the
country may fully understand the
procedure through which a loan NAV
be obtained there will be broadcast
this afternoon at 4 o'clock a brief
program in which Housing Admins
traitor James A. Moffett, representa-
tives of bankers and bankers asso-
citation, and borrower will par
ticipate.
The program, over a Nationwide
radio hook-up, will be sponsored
| Jointly by the American Bankers
Association, the District chapter of
the association and the F. H. A. In
addition to Moffett, those to take part
| in the program, which will be in the
form of skit, are Robert " Fleming
first vice president of the American
Bankers Association: Frederick P. H.
Siddons, president District Bankers
Association; Albert L. Deane, deputy
administrator Of housing, and Edward
A. Graham, president of Hamilton