Evening star., 1934-07-23
MOFFETT HALLS
HOUSING BACKING
Administrator Reveals Mes
sages Supporting Programs
TO Speed Employment.

The Federal Housing Admins
ton usnt ahead diligently stth ~
organization scfivty today. encour-
aged by mounting expressions OF con-
nosncs imposed In II b. leading
bankers. lndustrialists. real estate
men and private citizens
That American business is solidly
behind the administration in It's pro-
gram 10 the opinion Of Federal HoIs-
ing Administrator James A Moffett
who made public today tslegrams
from leaders throughout the country
pledging cooperation and prsiSinR
the designation Of Albert l. Desne a.
deputy administrator In charge Of
property rehs bilitation.
These teleRrams' said Mofiett
"are highly indicative Of the re-
sponse OF the country To the setting
up OF the Housing Administration
and the general desire to cooperate
In making 1t success.
Believes Bankers Enthused.
at Is. I believe, significant that
bankers. In q very large degree the
KEY men in any program for inter
estins private monies in building, are
fully as enthusiastic as manufacturers
OF building materials and organized
builders"
Moffett. who has set the re employ
ment Of 5000 900 as his goal Is gear
Ing his organization for an early start
on the task OF inducing private citi-
zenS TO spend q billion and a half in
repairing and building homes.
While the housing improvement
program will get under way quickly. 8"
he said, the problem OF organization
OF the mortgage division involving the
long range outlook, naturally will take
considerable length Of time to
organize"
The Government will guarantee
MORTGAGES for new building up to 80
per cent of their value. First en-
phasix. however. Is to be placed on
banks and building and loan asSoci-
stions and other financial institutions
10 lend money for the painting OF
houses. repairing Of roofs, installation
of new plumbing and other items Of
modernizati Twenty per cent OF
losses on such loans will be guaranteed.
Endorsements Listed.
Following are some OF the indorse-
ments received:
Henry l. Hartman. president OF the
Chamber OF Commerce OF the United
States:
81 am sure all thoughtful people will
realize the absolute need OF starting
employment in the heavy and con-
struction industries. The rehousing
OF America. as / see 1t, Is the single
greatest task before the American peo-
pie, and 1t has the double vantage
OF giving them work where work Is
now slack and Of greatly aiding the
social morale Of the country"
Lewis II. Brown, president Of Johns
Evansville Corp:
Great benefits are to be derived by
business through the stimulation OF
durable goods industries, induced by
the effective operation OF this act. l
can see the possibilities Of putting
! 600, 900 men back 10 work this Fall
through the operation of its home
moderniza ton provisions.
Robert v. Fleming, president OF the
Riggs National Bank here;
Greatly pleased to learn through
press announcement OF the appoint
ment of Albert l.. Deane, president,
General Motors Holding Corp. as as
sistant administrator in charge OF
home modernization. Home modernt-
zation and renovation most con-
structive step. which will enhance
value OF property and materially in
crease employment in addition con-
sumption materials.
This part of program should pro-
ceed at full speed under able direction
Of yourself and Mr.. Deane. My best
wishes and assurances OF hearty CO.
operation"
J. v. Talley, president of the Vir-
ginia Real Estate Association:
L think this act is one of the great
est steps forward that has been made
in connection with restoring conf
dence in home ownership and in aid
Ing employment in the building in
duStry"
Ralph w. Emerson, executive secre-
tary National Cleanup and Painting
Campaign Bureau here:
Hearty congratulations upon your
launching Of administration OF ma
tional housing act and appointment of
Albert l.. Deane as assistant admins
traitor. You are starting a most sig
niflcant and practical effort to speed
lily effect unemployment of millions
Of men and billions Of capital for real
business recovery. This bureau will
co-operate with Won To its full mower :.