The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1936-11-28
Uncle Sam Aiding In
Modernization Plan
FILA Granting Credit to Aid Home Owners to PrOtec
Property Offer Expiring April

hAl0 ulaIcIAu COuCStL1S, puDllC uLluLleS
newspapers and financial institu-
tons have joined forces in a nation
wide program to encourage property
owners to a. odernize for Winter"
The number o. cooperating concerns
is increasing daily as additional
business and lending organizations
get behind the plan.
The ..ublic is being urged to have
Its houses ind other property re-
paired and otherwise put in wealth.
er-tight shape, to avoid excessive
depreciation as well as discomfort
during the cold months. The IDEA
Of a concerted movement along
:l.eSe lines was inspired b, the diff
culties experienced last winter,
when many households found their
homes inadequate fer such a pro-
tracted spell Of severe weather. De-
spite widespread modernization and
repair duri~ the pa.t two years, 1t
Is known that large percentage of
structures are In sub-standard con-
dition.
Government Aiding
1.-THE Federal Housing Admins
tration is giving its full support to
the 'Modernize for Winter pro-
gram" said John F. Gaffey, state
director for Connecticut of the Fed
eral Housing Administration. "Our
part Is to encourage the granting
Of credit for such purposes by in
surfing loans made by banks and
other financial institutions. Loans
up to $1,000 are available for re-
pairs, alterations and additions TO
homes and all types 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 $4,000
up to $4,000 If the installation is
made in specified types of property.
hTe loans are repaid monthly.
zone of the main benefits that
the 'Modernize for Winter program
should produce is an extension of
building employment and business
well beyond the usual setup," COLI
tinued Mr.. Gaffey. 1.-The business
concerns and lending institutions
participating in the movement re-
port an unusual amount of activity
for this time of the year."
1,975 Loans Made
There are 1913 financial institu-
tons in Connecticut participating
under this section of the National
Housing Act, and for the month of
October they have reported grant,
ing 1853 loans amounting to $685.
589.OS.
Other institutions loaning money
In Connecticut under this plan re-
ported granting 321 loans amount
ing to SOL ,844.20. This total OF
1874 loans amounting to $685., 1926
is an exceptionally high volume of
business.
Throughout the country over
1900 newspapers have decided to
feature the "Modernize for Winter"
idea in cooperation with advertisers,
using large space running in some
cases to entire sections. More than
600 manufacturers have Joined IN
the program and include some OF
the leading concerns of their kind
with national organizations of deal
ers and distributors. Most OF the
chain store and mail order COM
panies selling building material and
equipment are participating In the
program. Thes concerns are giving
wide publicity to the plan with some
Of them featuring "Modernize for
Winter" days. In all, considerably
more than 1000 dealers are actively
supporting the program.
Agencies Assist
Public utilities numbering 668
have so far joined in the movement.
A large gas and electric company on
the Pacific Coast is af1ixing mod
ernize for Winter" stickers to its
monthly bills and will thus reach a
minimum of $4,000 customers. The
utilities are featuring gas heat, do
meStic hot water supply heaters,
modern kitchens, and improved
electric wiring and lighting fixtures.
The thousands of banks and
other lending institutions partici-
pating in the program are making
known their willingness to consider
modernization loans by means OF
newspaper advertising and mailings.
Two large branch banking systems
will each distribute 100000 folders
featuring "Modernize for Winter"
and how 1t may be financed.
In addition to reaching home
owners, banks are circularizing bust
ness men, pointing out that business
properties may be remodeled, re-
paired and equipped with modern
ization credit. Increased volume
has made it imperative for many
concerns to improve their store, fac
tory or other property. A modern