The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

on Chlaracter &een Growing The msodernization credit pro- gramn of the 'Fgderal, Housing Ad- niistration, hich will cniu in opération throughout 1935, is layIâing the founidation of a perma-. nent systéni of consumer. credit. which wil sec the batiks and. other financial institutionis of, the coun- try doing business in Strictly char- acter loans 'long after1 the mod- ernizaion'poion of th e.Na- tional Housing Act expire. The is the opinion of Federal Housing* Administrator, James A. * Moffett, *ho in a recent, address Poitited out that this, Goverument agnyis educatlng thousands of banks in a special kind of financ- ing in which few of thein pre- viously had engaged. "It would be * a great. imsfortmne tot~he coeuntry and a great boss to industry, if this character lending came to a stop the Iast day of 1935," Mr. Moffett asserted. "That it will not corne'to a stop, we are cotivinced." The *Housing Administrator said I REAL !STAT! 1 fou fiailal proper and Prompt servic. assured PI ST MANAGEMENT CORPORATION 10 So. La Se Sf,. Chicago T.I.phon. Fra&In 69W% ALy wants ro spçna uonuu rnriingms his home, or for anything cisc. leh stressed- the -significance of these detvolpinets from the standpoint, of: private industry. which lie said will have an opportunity to do far more business than in thé past-due to the developinent Çf this lending, policy. Heretofore," he éstimated, only about .350 ending institutions. had. ever advance d money on char- acter credit. Under the modernization. ,crédit plan, property owners are enabled to borrow, funds, up to $2,0OOfor mabing repairs and. ixprovýements to their homes or.,.business places. Trhe . funds are- advanced 'by lending institutions approved by thel Fed- eral Housing 'Administration and all funds advanced by each insti- tution are fully insured apainst loss up to 20 per cent. Bôrrowvers ~are gîven up to five years, to repay these loans in reg- ular periodic instailments. Records Consulted "Before offering to insure these loans," Mr. Moffet points 'out, «Uncle Samn consubted the country's records on instaîlment buying. Hle asked what had been the experi- ence of the few banks which up, to Instf scrinz ,hautmade <4iracter. * "He learned that, when an Amer- ican with a steady' job promises tu pay so much a knonth until a cer- * tain debt is satisfied, it is perfectly safe to assume that the promise will be kept." Auto <4 founpid. j» any other house opb thé- Ptorth shore. It is knoum as "deal'> constructiioel Pan yillg photograPhi indicates one Pf the deal walls of t/he old ho use. The >roperty woas recently purchased by Kingsley B. Colton of 354 Kenil - 7vorth avenue, Kenilworth, for whorn Mr. Benkert us restoring theland- nwrk in an architectural type of oe Coiuzecticut fart» ho use of the eurly, eighteenth century. li- thle Crilly Photo > CODN ction of one£of1IA !RDN or Ibicorne 1 C..1hlv.e. Ivaitifon Ph...: Gr..nkof 1856 the best informa-' '4'