The Bismarck tribune., 1935-03-30
q o N T l N u E II
Residential Building
Squirt Seen for City

get out Of q property on foreclosure If
things should be shaken up.
Nevertheless, there Is no enthusiasm
among them for participation in the
federal housing program through in
sured loans. Not single loan Of this
variety has been made in Bismarck
to date.
Government Backs Loans
Under the federal system. finance
corporation can insure its loan with
the government, thus removing all
risk Of losing its investment, but sew
eral agencies have not yet put them
selves In position to take advantage
Of this offer. All indicate that they
will make use OF it, II ct all. only
sparingly, unless their atti u d e
changes.
They are frank to state the rea-
sons for this, first and foremost be-
ing their contention that they don't
want to make any unsound loans no
matter what the insurance.
II the loan goes sour" one agency
pointed out. the lender must take the
"ertef" Of going through with the
foreclosure and handling the prop
erty until the loss Is established be-
fore the insurance can be collected.
This organization feels that sound
business principles should be followed
despite the insurance.
Another important fact Is that in
sured loans draw less interest than
do loans without this protection. The
natural tendency Is to select likely
looking risks and handle them as
they always have done in order to
increase their profits.
Few Under Federal Set-up
This attitude was evident in the
rather extensive loaning for remodel
ing purposes which has been done
during the last year. Many such
leans were made, but few were un-
der the federal set-up. The govern
n7ent effort, coupled with the pres
sure FOR more housing facilities, stim-
ulated the movement but the govern
ment agency had little to do with the
business.
Meanwhile the tendency toward
needed expansion is indicated by the
issuance Of three permits for new
dwellings this month. The number
issued since last August - Is u, in
cluding the three in March.
That the yearning for home Of its
own still dominates the dreams Of
many families Is indicated by the
fact that some homes are being built
q little at q time. For example three
Of the 81 permit applications specify
that only the basement Of the home
Is to be built now. The rest will wait
until more money Is available.
In practically all such cases the base
ment Is fixed up to serve as q resi-
dence until such time as the remain
der Of the home can be financed.
All told, residence permits issued
since August "a. 1894, total 338,575.
That happened to be the date upon
which workers In the city hall began
using q new book Of permit registra-
tion blanks.
Total Construction &l39.AlS
The same authority puts the total
value Of construction activity In Bis
marck since that date at $439. AIS.
but this Is somewhat short Of the
actual figure. Some persons spend
more on building than Is indicated
in the permit and apparently no per-
nit was issued for alterations in the
Lahr building, made for Montgomery
Ward and company. This WORK was
estimated 1t $4,000. On this basis
the total In the last seven months
would be In excess Of $4,000.
The chief item In this tabulation.
of course. Is the new public high
school. estimated in the permit to
cost $373. 1905.
DWELLINGS for which permits have
been Issued In the last seven months
are:
Edwin Hartung. COS Fifteenth st..
$50; Theodore Schmidt. SO Fifth st..
(alteration) $500: George ]. Roess!er,
$40 Twelfth st., $500: Mrs. r. H.
Thistlethwaite. l04 Ave. B. (duplex)
5000; r. n. Bergeson. 40 West
Thayer, (alteration) $500: o. w. Fir
lie, 400 block in Washinyton st..
south. $4,000: Roy W. ooo.man. 72j
Twentieth st.. basement only now
$500; George A. Duemeland. 2l5 Han
nafin st., $4,000: Mrs. ]. E. Melton,
622 First st., falteration) $500. l.
A. LaRue, l0l7 Eighth st., $500: J.
A. Larson, 500 block In Thirteenth st..
south, $500: Susan K. Mcdonald, 1O7
Twelfth st., (alteration) 81 800: Olive
La Grave. l024 Seventh st.. $1,000:
Walter Turner, o00 Second st.. t450:
Walter Bailey. block : In Park Hill
addition. (basement only now) $500:
L. A. Maichel, Park Hill addition.
AQQk. Flcesai.leh ARaekiv, 17a4 Avae.ssn