Evening star. [volume] (Washington, D.C.) 1854-1972, 1944-11-16
Banks, Building Units
Given Long Awaiied
Veteran Loan Forms
By EDWARD c. STONE

49,
Washington banks and building
and loan associations today had re-
ceived four Of the forms from The
Veterans Administration to5be used
in making home-buying loans t<
veterans under the CT Bill Of Rights
The long-awaited blanks place theae
institutions In position to receive
loan applications from veterans.
A good many veterans already
have made inquiries about the loans
but were told they must await ar.
rival of the forms. One more form
is due, this relating to appraisals Of
property to be purchased by vet
Grams.
The forms already received cover
application. for home loan guaranty
certifcation Of eligibility, loan guar.
antee certificate to be issued by Vet.
Grams Administration, and the loar
closing statement to be prepared b,
the lender. The documents are mos
formidable In appearance, one beinf
2 feet in length and printed ON botf
sides. Answers to "a questions art
asked. Another form Is 3 feet tn
length. a..
These guaranteed loans are ex.
pected to reach huge figures in the
postwar period. Financiers have beer
preparing for weeks to offer the nav
service to veterans. They now can
really talk business"
CT Loan Caution Urged.
Francis Pavesich, director Of the
Loan Guarantee Division of the Vet
Grams Administration, urged men,
bers of the Maryland League OF
Building, Saving and Loan .Associa ;
lions to exercise great caution In
making loans to war veterans under
"today's inflated values" 'f, '1~.''
II think members will be doing
veterans diSservice If they encour-
age them to take on obligations
they won't be able to pay for" he
said. IF the lending program Is
made too attractive, there is great
danger veterans may overextend
their borrowing"
Veterans must be told that there
is no need for them to rush to get
homes, as they have until two years
after the official end of the war to
make their applications. I am not
advocating putting veterans off, but
urge you to advise them what is
best for them. Some 100000 will
be entitled to the loans by the time
the war ends" he added.
Ample Funds for War Bonds
Peter H. Odengard, assistant to
the Secretary of the Treasury, told
building and loan leaders at the
Chicago conference that on the eve
OF the Sixth War Loan campaign
the country is in better position
to buy bonds than at any time since
the war began. In view of the
amount of money available, he said,
1.-The $l4, 10000 1000 quota seems mod
ests"
Chairman Wagner of the Senate
Banking and Currency Committee
has announced = that congressional
action on the Breton Woods none
tary agreements probably will be de-
layed until next week because OF
the crowded legislative schedule.
Simpler Tax System Seen.
Paul E. Shorb, tax expert, told $50
Washington cost accountants at the
Washington Hotel last night that
the public will suffer from unequal
lied taxes as long as we have public
servants making the laws for their
vote and not for the good of the
general public He predicted de-
cided simplifying of tax systems aft
er the war. 49, -.
Mr.. Shorb advocated lowering of
the excess profits tax. repeal of the
capital stock tax law, and urged
the right to carry capital losses
over a f1ve-year period. He dis
cussed the Ruml, Twin Cities and
other tax plans and said the ma
tional debt should be retired after
the war at the rate of not less than
a billion dollars a year. Several
other tax experts also spoke.