The Coolidge examiner., 1936-11-20

comfort during the cOl0eT montns.
Despite widespread modermzation
and repair during the past two
years, it is known that large per-
centage of structures are in sub
standard condition.
"The Federal Housing Admins
tration is giving its full support to
the 'Modetnize for Winter pro-
gram" said Thos. J. Elliott, direct
or of the Federal Housing Admin
istration for Arizona. Our part
is to encourage the granting of
credit for such purposes by insur-
ing loans made by banks and other
financial institutions. Loans up to
$4,000 are available for repairs,
alterations and additions to homes
and all tpye Of property. In the
case of business structures and
certain other types Of property, the
limit is $4,000. Credit for acquir
ing machinery and equipment may
be had in amounts exceeding S2,oC0
up to $4,000 If the installation is
made in specified types Of property
The loans are repaid monthly.
"One of the main benefits that
the 'Modernize for Winter program
should produce is an extension Of
building employment and business
we'll beyond the usual letup," con
tinued Mr.. Elliott. "The business
concerns and lending institutions
participating in the movement re-
port an annual amount of ac--
tivity for this time for the year.
Throughout the country over L.
500 Hewspapers have decided to
feature the "Medernize for Winter"
idea in cooperation with advertisers,
using large space running in sons
cases to entire section. More than
600 manufacturers have joined iu
the program and include some OF
the leading concerns Of their kiud,
with national organizations Of
dealers and distributors. Most OF
the chain store and mail order COM
panies selling building material
and equipment are participating in
the program. These concerns are
giving wide publicity to the plan,
with some Of them featu' ing
"Modernize for Winter" days. In
all, considerably more 1000 dealers
are actively supporting the program.
Public utilities numbering 66S
have SO far joined the move
ment A large gas and electric
company on the Pacific Coast is
affixing "Modernize for Winter"
s ckers to it's monthly bills l:I!
will thus reach a minimum of 50;.
900 customers. 1.-THE utilities are
featuring gas heat, domestic hot
water supply heaters, modern
kitchens, and improved electric
wiring and lighting fixtures.
The thousands of banks and 9TH
er leading institutions participate
ing in the program are making
known their willingness to consider
modernization loans by means Of
newspaper advertising and NAL
ings. Two large banking systems
will each distribute 100000 folders
featuring "Modernize for Winter"
and how it may be financed.
In addition to reaching home
owners, banks are circularizing
business men, pointing out that
business properties may be re.
modelled, repaired and equipped with
modernization credit. Increased
volume has made it imperative for
I'.dny CCnCClnSr improve tie.
store, factory or other property. A
modernization loan enables them to
do this without drawing on their
working capital.
The Modernization Credit Plan
expires by law on April next,
which leaves less than five montn.
for the publ tc finance needed
property improvements under the
liberal provisions of Title l of the
National Housing Act. Applications
a." made acct On 4. :. ..l
lending institution