Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-07-01
Home Mortgage Cash
On Sounder Basis
To Be Courses Goal
IS Loon Executives
And Assistants to
Go to Northwestern

Mortgage money for home con-
struction on sounder, more EN-
Gent basis is expected to be one of
the results of the concentration of
562 hours of brainwork upon the
subject of home building loans at
Northwestern University August z
Is. A feature of the Graduate
School OF Savings and Loan, which
will be the first venture of its kind
in 108 years history of thrift and
home financing institutions, will be
the course in construction loan pro-
cedure and supervision, in which IS
association executives and assistants
will spend one hour and a half
every day for a week.
The summer school is under the
auspices of the American Savings
and Loan Institute and will offer
three other major courses and five
round tables of one and half hours
each on specific problems of the
home lending business. Effects of
the business cycle and the real es-
tate cycle upon home ownership will
be important considerations in the
one-week course in economics and
business forecasting.
The limited registration of rs per-
sons will take all the courses offered
at the school. Twenty-Five full
hours out of the two weeks will be
devoted to general course in saw
ings and loan management. which
will include lending policies, use of
Federal Home Loan Bank credit,
F. H. A. loans, collections and
hquidations of real estate, interest.
dividend and reserve policies and
business development.
Savings and Loan Law.
Another full two-week course will
be that in savings and loan law,
which will deal among other things
with the loan contract, mechanics
and other liens and insurance of
various risks.
Registration is limited to Junior
and senior executives in associations
and to those who hold three-year
diplomas from the American Saw
ings and Loan Institute if not in
executive positions. Attendance is
likely to be drawn from a ma jority
OF the various States in the Union.
Registrations to date bring Illinois,
New York, Wisconsin, Texas. In
diana, Ohio, Pennsylvania, Iowa,
California, Nebraska, Georgia, Mas
sachusetts, Kansas, Minnesota and
Michigan savings and loan execu-
tlves into the student body.
The faculty will consist of both
business leaders and academicians
in the real estate and mortgage
lending fields. DR.. Henry E. Hoag-
land, professor of business finance
at Ohio State University and former
member of the Federal Home Loan
Bank Board here, will have charge
of the course in management.
Claire w. Grove, organizer and
president of the Second Federal
Savings and Loan Association of
Cleveland and former president of
the c. w. Grove Construction Co.,
will be the lecturer in the construc-
ton course.
Bank Head to Lecture.
Ralph H. Richards, president of
the Federal Home Loan Bank of
Pittsburgh and former assistant
professor Of finance at Ohio State
and Columbia Universities. will lee
ture in the economics and business
forecasting. Savings and loan law
will be in charge of Horace Russell,
general counsel of the United States
Building and Loan League
Leaders of the round table con-
ferences on current trends in asso-
citation practice, functions of the
executive, appraising, accounting
problems and business development
trends will be, respectively, Morton
Bodflsh, executive vice president of
the United States League; A. D.
1heobald, secretary treasurer of the
American Savings and Loan Insti-
tute; H. o. Wslther, former presi-
dent of the Society of Residential
Appraisers. lecturer in real estate
at Northwestern University: Cloyd
j. Burns, accounting consultant of
the American Savings and Loan In
stitute, and John w. Ladd, manager
Of the advertising and business de-