Evening star., 1941-11-01
Savings Loan Officers
To Continue Plans
For Home Bui|dinq
Voice Intention to Aid
In Priority Problems
And Substitute Material

VVISC tutCuNSVst " NV
In Priority Problems
And Substitute Material
The intention of savings, building
and loan associations as an Or
ganized industry to aid the con-
tinuance of home building where it
does not interfere with the prior
claim of the defense program is
seen in statements by officers of the
United States Savings and Loan
League this week. Methods by
which they will carry out this pro-
gram include financing of houses
built with satisfactory substitute
materials, helping builders in their
priorities problems and encouraging
home owners to go ahead and build
where materials are available.
The urge to keep building trades
men employed In home building,
which of all phases of construction
requires the least of the critical
metals, is seen as principal motiva-
ton behind the course being widely
adopted by the associations. In ad-
dition, representatives of the busi-
ness are outspoken in their desire
to give private enterprise a chance
to prove that it can continue to do
most of the housing job for both
defense and non-defenSe areas with
out public fund assistance.
Writing in the current issue of
building trades publication. Morton
Bodfish, executive vice president of
the league, points out that the pro-
duction of building materials in
this country has not been seriously
curtailed and says that except for
few critical materials, chiefly metals,
there seems to be plenty of supplies
with which to build at practically
normal winter and early spring pace.
while recognizing that the defense
program and housing in connection
with it have first claim on the
energies and industrial resources of
this Nation, we see no reason for
withholding funds from their normal
flow into home building which does
not use critical material" he writes.
Information Service Cited.
Paul Endicott of Pomona, Calf,
president of the league, in Chicago
for a meeting of the board of direc-
tors, said:
There is a definite responsibility
for private sources of financing for
home building, such as the savings,
building and loan associations, to
encourage builders to find reason
ably satisfactory substitutes for the
restricted materials and thus go
ahead with the home building activ-
ity in this country. Recognizing
this responsibility. the savings and
loan associations will not only
finance construction with new and
substitute materials, but in many
instances will aid, by way of their
home-owner information services, in
accomplishing the goal of continued
home building on private enter
prise basis"
Fermor S. Cannon of Indianapolis,
the leagues first vice president, told
Of the action taken by the Marion
County League of Savings and Loan
Institutions. A letter was sent to
some 300 contractors and builders in
the area, advising them that the
savings and loan institutions are
ready and willing to make all the
loans which they would need to
carry on private enterprise in home
building and especially in remodel
ing of older units.
"We offered the help of our as
sociations in filling out the forms
required to obtain priorities, and
urged the builders to acquaint them
selves without delay with the whole
program" said Mr.. Cannon. 1--WE
were especially anxious for them to
realize just where the restraints are
and just where they are not, since
the general tendency has been to
look upon the restraints as being
stricter than they are"
Ready to Make Loans.
George w. West of Atlanta, i'm
mediate past president of the league,
said that associations, before the
crisis Is over, probably would be
called on to make loans on houses
which are not completely finished,
though livable. and which can be
completed at later date when the
emergency is past. He believes this
program might become an accepted
one as the determination to support
the building industry develops.
Ralph H. Cake of Portland. Greg,
second vice president of the league,
and head of one of the 20 largest
institutions in the country. said:
I'm my association we are ready
and willing to make all the loans
that are needed to carry on private
home building enterprise The build
ing of owner occupied homes should
have preference on materials ahead
of all public housing, except that
specifically in defense areas. We
owe it to our communities as well
as to the Nation to see that en-
plOyment in the home building in
dustry continues at a reasonable
level, especially since the construc-
tion of larger projects, requiring
more of the scarce metals. will un-
doubtedly have to be curtailed some
what and thus contribute to unem-
ployment among building trades
men,"