davidaulloa/AmericanStories huggingface dataset:
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29
: LEGAL NOTICES
. $50 - -

Federal Works Agency. Public
Buildings Administration, Washing
ton D. c., Dec. s. 1939-Sealed pro-
posals in duplicate will be publicly
opened in this office at 1 p. m,
Standard Time, Jan. 19, 1910, for
construction of the U.SP.O. and
Custom House at WrangeH. Alaska
Upon application. two sets of draw
ings and speeificat IONS will be sup
piled free to each general eontrac-
tor interested in submitting a pro-
posal. The above drawings and spec
ifications MUST be returned to this
office Contractors requiring addi-
tional sets may obtain them by pur-
chase from this office at a cost of
$50 per set, which will not be re
turned. Checks offered as payment
for drawings and specifications must
be made payable to the order of the
Treasurer, US. Drawings and speci-
fications will not be furnished to
contractors who have consistently
failed to submit proposals One set
upon request and when considered
in the interests of the Government.
will be furnished, in the discretion
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29
CANNED SALMON
DISPLAY CONTEST
PLANNED SOON

Alaska's canned salmon will be
the most prominent product in
thousands of grocery stores through
out the United States during most
of February and March, the Canned
Salmon Industry advertising office
forecasts in announcing that the in
dustry will sponsor a display con-
test for grocers during the Lenten
season of 1910
The 1910 display contest is model
ed closely after the successful 1893
contest, with an increased prize
list. Cash prizes totaling $7,505 will
be awarded to !, $50 winning gro
GERS, with the grand award winner
receiving a total of $3.50.
To assure every grocer having an
equal chance to win the large
awards, competition is divided into
three groups according to size of
display with equal prizes being
awarded in each group. First prize
in each group is $3.50 Best display
entered regardless of size will win
$500 additional.
In each group there will be a
second prize of 500 a third prize
of $50, ten fourth prizes of $25, and
337 fifth prizes of SIS, Group I is
made up of entries of from to
cases; Group II of from to Is
asses; and Group III of 16 cases and
over.
All food store owners, managers,
or clerks in the United States and
Alaska are eligible to compete.
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29
SANTA CLAUS PAYS
VISIT TO OLYMPIA
BREWING COMPANY

OLYMPIA, Wn. December ga
Christmas bonus amounting to not
less than a full weeks salary or
wage was paid by the Olympia
Brewing Company, Olympia, Wash
ington, to all its plant employees
and staff throughout the Western
states according to an announce
ment by Peter G. Schmidt. president
This was the second such bonus
of the year, the first having been
paid in June. In addition the COM
pany has presented its employees
with Thanksgiving turkeys and
Christmas baskets.
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29

of the Commissioner, to builders ex-
changes, chambers Of commerce or
other organizations who will guaran-
tee to make them available fer any
sub-contractor or material firm IN
tefested, and to quantity surveyors,
but this privilege will be withdraw
if the sets are not returned after
they have accomplished their pur-
pose. W. e. Reynolds, Commissioner
of Public Buildings, Federal Works
Agency.
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29
WEEK OF PRAYER OBSERVED
HERE JANUARY l TO

The Universal Week of Prayer
will be observed in Wrangell, Jan
uary 1 to Z with the General Theme
Prayer for the Acknowledgment
of the Lordship of Jesus Christ over
the Whole Of Life"
Beginning with Monday, January
1, the prayers for the seven days of
the week are for the "Aeknowledg-
ment Of the Lordship of Christ:
Monday, Episcopal Church, Brig
adler Dillingham;: lover the Indi-
yidual."
Tuesday, WrangelI Institute, In
the Home, with the Episcopal Sal
walton Army and Presbyterian min
listers each giving a message.
Wednesday, Presbyterian Church,
Rev. Mr.. Calame: In the Church. .
Thursday, Assembly of God, Rev.
Mr.. Peterson: In the School,
Friday, Salvation Army Citadel,
Rev. Mr. Krone: "Over Our Secular
Life"
Saturday, Presbyterian Church
Captain Morris: In the Commun
ity."
Sunday, the several churches,
"Over the Nations
The general public is invited to
attend each of these meetings.
Christian people are urged to mike
special effort to attend and thus
witness to faith in God and in
prayer.
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29
PAGE THREE
NOTICE

Notice is hereby given that Ralph
y. scrubBy, has made application Tor
a homesfdte. Entry $500. under the
act of Nay %. 1884 l4s Stat. 500
Ior trast af land embraced in Us.
survey SO 232l. Wrangen Group
oil HomesiJas, anu designated as
uaet - containing $50 acres. and
il is nov in the lilies OF the u. S.
Land Offige. Anchorage. Alaska.
ANY and all persons claiming ad-
yerseIy any OF the above mentioned
land should file their adverse claims
in the district land office within the
period OF publication of thirty days
thereafter, or they will be barred by
the provisions OF the Statutes.
GEORGE \. LINGO,
Register
First Publication Dec. s. 1888.
Last Publication, Feb. 2. 1870
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29
y - y = y y . =
ON THE BOATS

; . = =
Passengers on the North Coast
Dec. % were: Ben Cambron, Mrs.
Ben Cannon and Mr.. and Mrs. Ben
r. Gambron to Seattle. Mrs. Sophie
Kelly, Violet Rosenbland, Vernon
Benson. Fred Dolphin, to Ketehikan.
Northland, northbound: Nettie
Hibner and Josephine Thomas to Pc
tersburg.
Mckinley, northbound David S.
Paddy to Haines. Ed Lindeman to
Juneau.
Yukon, Southbound: Marion Neil
son, Mr.. and Mrs. A. Vreatt to Sc
attic.
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29

The old ferry boat Victoria which
was being towed from Seattle to
Sitka where it is to be used as a
clubhouse for workmen employed
on the naval base ran on the beach
in Chatham Strait last week, accord
ing to reports received here. It is
understood to have later been floated
and taken ON into Sitka.
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29

Grim appearing as the silent Arc
tic which claimed his life while on
a mercy flight for a fellow pilot was
a white plane dashed on the forward
deck of the steamer Mount MeKin-
ley as she passed through Wrangell
this week. and on its sides the in
sciption "Mirow Air Service" Men
mourned that Hans will never sit
at its controls.
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29

PETERSBURG Dec. % = The
Einar Boyer, which was aground in
the Narrows, was floated last Fri
day and towed into Petersburg. Ma
jor damage TO the vessel was report
ed as two broken ribs and five
planks Capt. 3. H. Larson Of the
Boyer had been in the Aleutians
hauling supplies to trappers and
traders and was en- route to Seattle
with his daughter. two sons and
four crew members To spend the
HOLIDAYS
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29
ATTENTION CANNERY WORKERS

Regular meeting Friday January
5th at 1880 p. m. Nomination of Of
ficers will be held at this meeting
and election held January 18th.
All members are urged to attend
this meeting
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29

You Saw It In The Sentinel
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29

J. B. Cauley, Agent.
The Wrangell sentinel. (Wrangell, Alaska) 1909-current, 1939-12-29

First Publication Dec. s. 1883.
Last Publication, Feb. 2. 1870
Evening star., 1939-07-23
BestSnapshots
OF the week in
The Stars
Amateur Contest

Contestants receive 81 for
eoch photo published with the
weekly S. prize winner. All
photos published will be con-
sidered at the end Of the con-
test for The Stor's four SIS
grond owords. Winners of the
9rond owords will compete in
the notionoI owords poyinq
$4,000, including erond prize
worth 81, 500. Photos must
hove been token since May IS,
1889, to be eligible. Do not
submit negatives.
Evening star., 1939-12-16
PRICED TO SUIT YOU!
Modern Downtown Apt.

Fireproof bldg; switchboard, elevator
service: free refg.: large corner apt. living
rm, bedrm., kit. bath. foyer. $50: same
apt without bedroom. S37: choice bach
eior apt. $50; neatly furn. at slight extra
1870 r st. NV. Dupont $500
Evening star., 1939-12-16
APARTMENTS SUBURBAN.

AIEXANDRIA-AVAnA AT ONCE;
convenient to schools, stores, churches
entire second floor. unfurn.. 3 rooms. large
Phone Temple 2461.
ARLINGTON. VA. 2513 9th ST. NORTH
3 rooms, tile bath. oil heat, oak hoors, ga
rage: quiet people. 16s
ARLINGTON-EXCEP b-RM. APT
6creened porch, lge closets, airy. gar, lge
yard; mr. schools. shops. oxford 1898.
IDEAL LOCATION, AS WEST MONT.
9omery ave, Rockville, Md bright
sunny rms, kit, BATH oil heat and hot
Tub and shower. Bus stop at door
ARLINGTON. VA LARGE RMS. BATH
01 modern: Jan. LIST; $50 so, INV. h. incl;
0dults; refs. Phone Chestnut 1868.
Evening star., 1939-12-16

GILBERT HOTEL,
60S 9th st. NW.-Phone MA. O462
"a Up Single, So Up Double by Week.
Evening star., 1939-12-16
1912 HEMLOCK ST. NV.

1912 HEMLOCK ST. NV.
Nearly new semi-detached brick. bed
ICONS; room buit-in sarase; electric EetriseTs
beautiful neighborhood: convenient to
18th ST.. Colorado ave. and Georgia ave.
Buses stores and oS1Y S9[S. ss5
HOWENSTEIN REALTY CORP,
141s H ST. NV. Dist 1877.
1925 LIVINGSTON ST. NV.
r. b., oil burner, Lear garage,
elec; refs, rec; rm: s11O 90
Key at 3710 Livingston St. NV
5704 GEORGIA AVE. NV.
'AN 4s2o HUNT AVE, s'0''0
CHEVY CHASE. MD
r. and b., Lear garage. maids
Key at 1925 Hunt. Ave. '''0
404 18th ST. Sc.
5l4 SHERIDAN ST. NV. '''
r. and b., 1-c. garage. INV, heat $50 90
WASH. LOAN & TRUST CO.,
900 NV. R. E. Dept. Natl. 344O.
For Regularly Employed Colored.
Heated Apts., i and R., K. B., G.. E..
1909 gath St n.w.------------ % $50
Unheated Apts. and R.. K. B., 6: "a
1907 R st. $3.50
501 o st. NV 81 so
dl3n Bird st: n.w.------------2 2l.50
32 Eye ST. 2l so
200 K st. ne. 1880
office Open Sat. Until PM
Washington Housing Corp,
931 H st. NV. Nat 3571.
Evening star., 1939-12-16
APARTMENTS UkFURkIsHED.
S47.5O.

Absolutely modern, hreproof bldg. We
neti.n blinds, gas refs. 2 rms kit. din:
ave. Apply janitor or DREYFUSS BROS.
National 05S2.
Evening star., 1939-12-16
ROOMS FURNISHED.
"THE MAURY I"

701 10th st. n.W.-lOO beautifully furn.
single and twin bedrooms. running water.
near showers and tub baths. tnner-sprtne
ton room; single 81 Wk IN: double "A Wk
Evening star., 1939-12-16

GEORGIA AVE NV. (361I)-2 ROOMS.
kitchen, screened porch: everything furn.;
$40 month. Call Geo. gill.
large, bright bed-living room kitchen,
dinette, sink. c.hw., range, Frigidatre:
gas, cleo. unlim. phone: S35. Adams
Evening star., 1939-12-16
ROOMS UNFURNISHED.
SUBURBAN ROOMS.
ROOMS WITH BOARD.

| ARLINGTON, VA.-Sunny, large single,
double rn., excellent table: homelke en-
vlronment. 1892 NJ Veitch St CHI 671S.
Evening star., 1939-12-16
$50 BACH

174s Que st.. n.w.-1st a.. pvt. bath
maid service; l. 2. or persons. Emerson
OO47,
Evening star., 1939-12-16

LIVE IN GLOVER PARK.
1855 41st ST. NV.
IMMEDIATE OCCUPANCY.
2-Room, Dinette, Kitchen and
Tile Bath Units, $3.50 Up.
eENTS INCLUDE HEAT. HOT WATER,
GAS, ELECTRICITY; REFRIGERATION
Venetian Blinds. Gas Refrigeration.
Magic Chef Ranges. Plenty Of CLOSETS.
FLOYD E. DAVIS CO.,
783 10Th St NV. National O362.
THE WOODLEY,
1881 Columbia Rd.
3 rooms. kitchen. pantry and bath large
ball connecting all rooms. south and east
exposures; ample closet space; electric re.
riGeration on house current; elevator.
COLORED.
1923 Irving ST. ne.-5 rms. bath $50. 90
B. F. SAUL CO.,
o26 18th St. National 2100.
Evening star., 1939-12-16

2121 AND 2135 ST. NW.-ATTRAC-
lively furnished studio rooms SIS 500
S25 mo- Running water. kitchenette ar
rangement Venetian blinds Small rooms,
S2-&5 week District ola5
Evening star., 1939-12-16
A BUYERS BARGAIN.
21C n CT Mt

NEW
DETACHED BRICK HOMES.
Large handicapped lots: 5 and 8 rooms,
schools.
$3.50 to $7,45O.
10% Cash l Note at so for Balance,
CALL DISTRICT 1880.
Taylor & Van Vranken, Agents,
1872 K St. NV
Evening star., 1939-12-16

d41u NOHId CANOLINA AVE. Sc.
2135 Pa. Ave NV Republic pip.
1911 BnTMoRE ST. N.w-12
rms: baths s.-- $4,000
1s's;' o'' ss.. rms. baths. 1sSSS 1sSSS
1882 1882 Madison st; NV rms. b.. 5000
100 rms. 8 baths -. 5000
1881 Allison st. n.e.-s rms, 3
1923 Lanier pl n.w.-s rms. bath s7So
1929 3sth st. n.w.-6 rms. bath 5000
bath; suitable for Z families tns $500
6l06 9TH st. n.w.-6 rms. bath - $500
eot tstB tGBrittenden st n:v:-s rms" Ak m
Cor. Conduit and Mohican roads. o'o0
Glen Echo Md rms, baths $500
1887 California st. n.w.-9 rms, .
2os2 Pierce Mill I'd. NV rms. soO wv
121 Longfellow st. n.w.-o rms, 0o'o0
s1i7 Hiatt pi. nw:-1o rms, bath $500 $500
441O., Illinois ave. n.w.-6 rms,
1417 You st: n.v.Le rms, bath; ~ DD'Oo
2012 Portner pln.w:-6 rms, bath; 0
1s Sherman lrn ' ave- TAX. Park Md .oxo
so2s vista st. ne.YS rms, bath 1890 1890
l4l5 Jackson st. n.e.-5 rms. bath 1900
sdI se2, pstineI st nxS 81 rms bath bath hath $55o
q Anacostia rd. "a. n.e.-S rms, % bath $3.50 $3.50
1871 10th st. sw.--8 rms. = 20.5o
B. F. SAUL CO.,
National 21OO. 925 18th st. NV.
Evening star., 1939-12-16

WANTED-LADY TO SHARE MOST AT
trac. housekeeping apt, one who appre-
ciates a nice home. Met. 1900 after 2
Evening star., 1939-12-16
LOWEST RATES!
NEW--EXCLUSIVE
WARWICK

(MASS. AVE. AT 39th STD
3051 IDAHO AVE
"A Few apis, now available in this ex-
elusive air-ventilated building. Liv. rm..
dinette, kit, dress. closet, bath. S495O
Liv rm:, bedrm,, dinette. kit, bath, S69. so
tApts furnished at slight additional cost
Elevator, switchboard service. Res. mgr,
Evening star., 1939-12-16

PETWORTH-ENTIRE 2nd FLOOR; .
rms, k, b., porch. Frieid., phone; $50.
No obi. one child. 4725 4th st. NV.
1s R ST NE-ATTRACrIVELY FUR
nished. 2 bedrms.. living rm kitchen rec.
hall. bath; refg., ch.w.; 3rd A.: adults
Evening star., 1939-12-16

1923 RITTENHoUsE ST. NW.-3 ROOMS.
kit. pvt. bath; gas. elec. and refR: 5
closets: clean. convenient Avail Dec. 20.
? or 3 adults Rand 3165
1881 SHERWOOD ST. NE ROOMS.
kitchen and bath: lights, heat and gas.
Evening star., 1939-01-22
Don't be hompered by excess fot-reduce
this sofe woy-enioy life more
turnouts since.

To protect you. genuine Ry -krisp comes in rrdan
chec packages has the name baked in every
Evening star., 1939-01-22

Into the stretch at Sonto Anito.
Upper Berth. the No. 3 horse
bock on the roiI. won this one.
The California trock is having q
bonner season, with an opening
doy crowd Of $4,000 and good
turnouts since.
Evening star., 1939-01-22

I. Ssest's Emulsion - made from Sc
lected cod liver Oils four times
easier to digest than plain cod liver
oil because the cod liver oil is
brokeninto tiny, easily digesteduni
by our exclusive process. Children
are less apt to regurgitate (spit up)
Scott's Emulsion.
4. II is pleasant tasting . easy for
children to take.
;. n 10 rich in Vitamins A and D. Ba-
bies and children have thrived on 1t for
50 years.
Evening star., 1939-05-19
j. ). 10 Attack Prices
In Building Industry,
Murphy Declares
'UnsupportobIe Burden
On Public Is Held
'ScunduIous'
BY the Associated Press.

bN Jflt fSSOCldIeO PreSS.
Attorney General Murphy an
nounced yesterday the Justice De
partment proposes to attack" un-
lawful "price-raising restraints of
trade" in the building industry
which are IAN unsupportable burden
on the public and act as a brake
on the general recovery of business "
The Attorney General asserted at
his press conference that the Justice
Department has been investigating
practices affecting home building
Some situations related to home
building supplies are quite scandal
ous," he said. He added that the dc
partment's survey would concentrate
on areas where the most good can
be achieved" He mentioned New
York, Chicago, Pennsylvania, New
Jersey, Michigan, Detroit, st. Louis
and Cleveland.
The announcement of the proposed
attack was contained in a state
ment by the Justice Department OIL
antitrust policy. 1t said The pu.--
pose of this statement is not to ar
nounce new policy, but, if possible
to make the position of the Govern
ment in respect to the antitrust
laws better understood
While it is the aim of the depart
ment, so far as its facilities permit.
to prosecute every substantial viola
ton of the law that is brought to its
attention, it will not be contens
with sporadic prosecution of indivId-
ual or isolated cases.
Where it finds, for example, that
the production or distribution of a
particular commodity, like milk or
housing materials. is being adversely
affected by practices which it deems
contrary to the antitrust laws, it
will be the policy of the department
to include in single proceeding all
the groups and individuals whose
illegal activities affect or contribute
to the situation that needs to he
remedied."
There is particular need" for us
ing such procedure in the hous-
ing industries, the statement Said
Housing costs are so high that prl-
vate industry is unable. to provide
homes within reach of nearly hat
Of the population, it declared.
Evening star., 1939-05-19
5. E. c. May Hear
UtiIity's Agent
BY the Associated Press.

BY the Associated Press.
Lewis M. Dabney. Securities and
Exchange Commission counsel. said
today Ben Grey probably" would
testify at the S. E. C.'s hearing next
Wednesday.
Mr.. Dabney has been seeking to
learn what services Mr.. Grey rem
dered to Associated Gas & Electric
Co. in return for $55,000 paid him
in 1887.
The commission is conducting a
public hearing on Associated Gas &
Electric Co., which, it alleges, filed
false and misleading" statements
relating to material facts.
Fred S. Burroughs, vice president
OF Associated Gas, testified this
week that Mr.. Grey did public re-
lations" work for the company and
that his duties were to mix with
the right people" in Washington and
give advice on how to improve the
company's relations with public au-
thorities
Evening star., 1939-05-19
AnnaIist Trade Index
Continues 10 Ease
During April
Coal Shortage Fears
Contribute to Drop,
Hansen Declares
DOLLARS
PER SHARE
SPECIAL Dispatch to The Star.

SPECIAL Dispatch to The Star.
NEW YORK, May 19.-General
business activity resumed its down.
ward trend at faster pace in April,
and the Annalist Index of Business
Activity accordingly fell to 869 (pre-
liminary) in April, from 90.l in
March and a 1888 high of 952 in
November, according to the monthly
review of domestic business by H. E.
Hansen in the current issue of the
Annalist.
Coal shortages and fears of
shortages contributed to the re-
cession. although the situation in
this respect did not actually become
generally serious until near The end
of the month. Steel mills curtailed
operations moderately, partly be-
cause of the coal situation, while
pronounced decrease occurred in the
big iron production. Automobile out
put on a seasonally adjusted basis
declined for the fifth consecutive
month, rejecting a slackening in
demand rather than a fuel short
age.
The non durable goods industries,
following improvement in March,
joined the recession. with cotton
and silk consumption declining
sharply and rayon consumption
moderately, on a seasonally adjust
ed basis. Smaller coal shipments
were an important factor in
smaller volume of other freight
car loadings. but miscellaneous
loadings also experienced a marked
setback. Rejecting reduced indus
trial activity, seasonally adjusted
electric power output is estimated
to have declined to the level for
last September
Last months decline in steel mil
activity was comparatively mild, but
the total decrease for the recession
to date now amounts to 1928 per
cent: compared with last years low
point, the index still shows a gain
of 752 per cent. Large orders, aside
from structural steel awards, con-
tinued to dWindle, with support COM
ing chiefly from a large number of
small orders. 1t is reported That
automobile producers virtually have
left the market and are not eX-
pected to re-enter much before
July. 1t has become known. how
ever, that a leading car producer
in the first week OF May placed a
trial order for 5000 tons Of sg.eets.
involving price concessions.
These concessions have added to
the uncertainty now confronting the
industry. Fabricated structural steel
contracts awarded continued to in
crease, to stand about "a per cent
above the level for April, 1888 Rail
road equipment buying, although
spotty, also was ahead of year ago,
with locomotive and passenger car
demand falling below the March
level"
Evening star., 1939-05-19
New York Produce

NEW YORK, May 10 Butter, l.
Ol03So: frmer. Creamery, higher than
extra, 23'4-24 Z: extra (a2 scorel. 23I2
firSts (SS-9l). u i2-23i4: seconds tSt-s7,
20-2l
Cheese, 26S,343; quiet. Prices un-
ChaNgeG.
Eggs, 1871, hrmer, Mixed colors, fancy
TO extra fancy, l9i4-2l; standards, lSl4-34;
f1rsts, l6,e seconds. Ii; mediums, l47.-1?;
dirtieS, No. !, l5: average checks, IA
storage packed firSts. 17a4.
Whites, resale Of premium marks, o.
@4l2; nearby and MldWestern, premium
marks 2o-2Ilg exchange speciaIs 1872;
exchange STANDARDS is: resale Of nearby
heavier mediums. 11-@0l2: nearby and
MidWestern exchange mediums. 1Gie
Browns. nearby, extra fancy. l9'222:
nearby and MidweStern. exchange specials,
-; exchange standards. Is; nearby me-
diums. 1924
Duck eggs, nearby. 1920
Live poultry, by freight, dull and easy
FQWI. coored. l1-1Sl2: Leghorns, 1911
Old roosters. l2-l3. Turkeys. hens. 90.
young toms, -. Ducks. 1911.
BY express irreguar Chickens. crosses.
1919, Broilers; Rocks, 21:- crosses. y.
colorsd. 10, Reds, 16i2-11; Leghorns IG-
u, Pow, colored, 1?-1s: Leehorns, 17-1s
PulletS, crosses. medium to large. 24-25:
small 20-21 Old roosters. 11-13 Turkeys
hens 23-@4; young toms, is. Ducks, 10
Evening star., 1939-05-19
Moffett Prepares
To Form First Firm
Under F. H. A. Act
Former Administrator
Is Willing to Buy Out
Federal Association
BY the Associated Press.

BY the Associated Press.
James A. Moffett, oil executive
and former Federal Housing Ad-
ministrator, said after White
House conference yesterday he was
prepared to organize a private Ma
tional Mortgage Association to sup
ply 5000 100000 or more of mortgage
money for home and factory con-
struction.
Mr. Moffett said he received EN-
couragement" from President Roose-
welt and now is waiting only for
final congressional approval of lib
eralizing amendments To the F. H.
A. Act before applying to the F. H.
A. for charter to form the First
National Mortgage Association" un-
der title 3 of that act
The oil executive said he was will
ing to buy out the Federal Mort
gage Association set up by the r.
F. c. which now has about $780,
100000 in insured mortgages in its
portfolios on an original capital of
$l0,000000 and Sl,000,000 surplus.
He also proposes to organize a
private development company to
furnish money to contractors to
build factories, apartment buildings
and other projects, including indi-
Vidual homes.
Mr.. Moffett said his association
would start with a capital of about
$5,000000 if the r. F.. C. refused
to sell out" to him its $4,000 600
capitalized association. Under the
act he would be authorized to issLe
debentures up to 20 times tie
amount of capital in order to raise
money for lending purposes.
These debentures would be for
20 years and would bear about 81
per cent interest. Normal rates OF
Al to per cent would be charged
on mortgage loans, but Mr.. Mof1ett
said he eventually hoped to reduce
this.
He said too many restrictions were
in the present act to encourage
formation of the private mortgage
associations, but that the amend
ments now being threshed out in
conference between the Senate and
House would remove these.
Once the amendments are ap-
proved and his charter granted, the
former F. H. A. administrator ex-
pressed the belief he could raise
almost Immediately 5000 100000 Tor
construction loans.