Evening star., 1934-08-16
1,131 BANKS To AID.
HOUSING PROGRAM
All D. c. Institutions Join
in Pledge of Loans
for Repairs.

The Federal Housing Administra-
ton announced today that l ,131 banks
throughout the country had pledged
cooperation in making loans to home
owners in the Governments campaign
to stimulate home repairing. AL
eligible banks in Washington had been
enrolled in the campaign.
The Districts financial institutions
were regarded as 100 per cent behind
the Government, although one local
bank was prohibited by its charter
from making unsecured loans and.
therefore, was not eligible for the
campaign. Banks, building and loan
associations and other institutions
were waiting with cash to hand out
to the home owner almost for the
asking.
Resources $S,13I $3.50, 900.
The banks which the Housing Ad-
ministration announced had signed
contracts to make insured "charac-
ter loans" of from $100 to $4,000 for
property repairs have aggregate finan-
cial resources of $8,131 $50 900, ac-
cording to the Associated Press. Sit
uated in 46 States and the District
OF Columbia, they serve population
OF 87,347, ,304.
Michael j. McDonough, president of
the Building Trades Department of
the American Federation of Labor.
told the 100000 members of his
craft that if the housing program goes
"over the top" it will mean reason
ably steady employment for years to
come" Eighty per cent of the build
ing workers now have no jobs, he
said in a statement
McDonough echoed optimism ex-
pressed In radio address by James
A. Moffett, the housing administrator
who also warned profiteers they would
be exposed if they sought to prey on
the program.
New York Tops List.
Arizona and Idaho were the only
States not included on the initial list
OF cooperating banks. New York
topped the column with more than
200 banks that have signed contracts
-22 of them in New York City alone.
Meanwhile, Miss Alma McCrum.
1852 Thirty-third street, who was
designated as the first person to
secure loan in the housing admins
tration's campaign, announced she
would enter her home in The Stars
$1,000 Better Homes Contest.
Miss McCrum's entry was hailed as
especially significant of the close rela-
tionship locally of the home modern
ization program and the contest.
Ohcials were impressed that the at
tractive prizes offered home owners
would lend to many the incentive to
OBTAIN an Improvement loan under the
housing act, thereby adding a bit to
the administration efforts to push the
tagging building industry out of the
depression.
Miss McCrum was highly praised as
the first F. H. A. borrower in a brief
ceremony held at a local bank Tues
day, In which Administrator James A.
Moffett and prominent bankers par
ticipated. A special movie Short"
was made with Miss McCrum in a
leading role to instruct the public in
the loan procedure.
$1,000 Loan Is Made.
She borrowed $1,000, which will be
added to 5000 Of her own to renovize
her home on Thirty-second street.
She will FIX up the second floor as
an apartment to be rented and the
first floor as living quarters for her
self.
Prizes in The Stars contest are
divided into two classes-for homes
valued at $4,000 and under and for
homes valued at over this figure. In
each class a first prize of $3.50, a Sec
ond Of 500 and third of $50 will be
given, as well as four honorable men,
ton awards of $25 each. In addition,
the Washington Board Of Trade has
offered $100 prize to be awarded
for outstanding landscaping develop
ment and another 500 will be given
the citizens association whose mem
bers show the greatest interest in the
contest-measured by percentages of
members who enter.
Entry blanks and full information
concerning the contest may be OBJ
tanned through a. note or telephone
call to the Better Homes Contest Edi-
tor Of The Star.