The Washington times., 1935-02-02
REPORTS TOFHA
INDICATE
BOON

\ ooV AAONAAAS OCNCAOpAAACA4Go 44
the industrial world portend the
expenditure Of millions of dollars
during the current year for the
modernization and improvement
Of plants, factories, buildings,
hotels and similar properties, &C.
cording to adviceS reaching the
Federal Housing Administration.
Two important recent develop.
ments in this connection are:
The steel industry of the
United States will spend more
than 1875 million dollars for
modernization and new equip
ment Of plants during 1896.
A proposal is under consid.
Grafton by the Federal Housing
Administration whereby the
$4,000 limit on insured mod.
ernization loans would be ex-
tended to $4,000 to stimulate
modernization and repair
projects in business and indus.
try.
Benefits Business
These developments are looked
upon by the Housing Administra-
! tion as indicative of tremendous
direct benefit to the building and
allied trades during 1895. The
definite plan of the steel industry
and the possible expansion of
Housing Administration provisions
under Title I were also looked
upon as being a means to greatly
further the volume Of related
new spending" that already has
been generated through the ma
tional housing act.
The steel industry states that
the new equipment will consist
largely of facilities for producing
the lighter types of finished steel
products, and the manufacture
and installation of the necessary
machinery will provide thousands
of work-hours for labor. Concur.
rently, the steel industry predicts
that by the end of 1885 the fin.
ished steel capacity of the indus
try will be 100000 tons more
than the aggregate capacity at
the end of 1885,.
Business Expands
The general trend toward ex-
pansion and improvement in in
dustry is noted in many sections
of the nation. According to a
copyrighted article by B. C.
Forbes, business commentator:
despite all uncertainties, not
a few companies are driving
ahead, preparing to cope with
business expansion. We hear
much about home renovation;
plant renovation is also under
way in many places"
Mr.. Forbes cites the following
as examples of expansion in busi-
ness and industry: Thomas A.
Edison Industries. spending large
sums on modernization, equip
ment, extensions: Jewel Tea Com
pany, so new wagon routes organ
iZed in 1894; the w. K. Kellogg
Company, greatly expanded ad.
vertiSing and merchandising pro-
grams; Standard Gas and Elec-
trio. acknowledgements
construction program throughout
1895; Ohio Bell Telephone, $2,.
100000 set aside for repairs and
improvements.
Title I Discussed
Meanwhile, general agreement
that an increase in the limit Of
modernization loans insured by
the Federal Housing Administra.
ton from $4,000 to $4,000.
would produce marked business
increases in building trades and
related lines, was expressed at
the Second international Con-
ference on the National Housing
Act.
Administration speaker pointed
out that while $35,000,000 in
modernization loans have been
allowed to date, conservative esti-
mates place the amount of busi-
ness generated by these insured
loans at many times this amount.
It was stressed at this meeting
that this large figure represents
new spending" exclusively.
The obvious stimulus to even
greater new spending through
the amendment to Title I for
industrial loans was also brought
out pointedly.
Cooperation Asked
Cooperation of the manufac-
turers and industrialists who at.
tended the conference was solic-
tied in a nationwide effort to
stimulate property conscious.
ness" among the millions of
home owners who, so far, have
not taken steps toward modern.
ization. A plan, to be instituted
by the Federal Housing Admin.
istration within a few weeks,
whereby sales schools to teach
details of the Better Housing
Program to building and related
tradesmen, was projected at the
session.
1t was revealed at the session
that a questionnaire sent to 20
900 leading American manufact-
urers received virtually a unani.
nous response expressing de-
sire to modernize and repair
their respective properties.