Indianapolis Times, Volume 44, Number 110, Indianapolis, Marion County, 16 September 1932 — Page 4

PAGE 4

FORT CLAIMS LOAN BANK IS ! PROVING VALUE Leniency to Borrowers Is Attributed to Plea: Evidence Otherwise. BY NED BROOKS Ttm* Start Writer WASHINGTON, Sept. 16.—Despite reports to the contrary, Chairman Franklin W. Fort of the federal home loan bank board today attributed a large share of thp leniency being shown borrowers by lending institutions to the anticipated benefits of the home loan system. Fort also insisted that many large institutions have adopted his suggestion for a sixty-day suspension of foreclosures. Results of a natina-wide survey by the fieri pps-Ho ward newspapers showed leniency toward home mortgage borrowers, but indicated the cause to be reluctance of lending institutions to add to their already overloaded real estate holdings through more foreclosures. The survey also disclosed that in ho district has an absolute moratorium been declared as a result of Fort's suggestion, and that, in most cases where a more lenient policy has been adopted toward borrowers, the change was thp result of economic necessity, rather than the administration appeal. Help Is Predicted “Some of the largest institutions in the country, without announcing they are doing it, have instructed their agents that where any hope exists of eventually getting their money for a mortgage to forbear until the home loan system is in operation,” said Fort. Fort predicted that building and loan institutions, enabled to increase their liquidity through the home loan system, will take over some of the mortgages now held by savings banks, which in some states are restricted more closely by law in j making home loans than building i and loan associations. “If these associations are financed so they can make a loan to clear ; up the incumbrances on a property, ! then the savings bank, which for example is limited to loaning up to 50 per cent of value of the property, can get out and the building I and loan associations that are in the market to lend can take over | the mortgage, so that thr running of taxes and other penalties which are wiping out the” equities will be stopped," Fort said. Indirect Benefits Cited ‘‘Thus the indirect benefits of the home loan system are more important than the direct. ‘‘Heretofore they have felt they hadn't any justification for holding off fdreclosure. Now there is some- ' thing ahead, so they are justified in waiting. “If, in the meantime, the dis- ! tressed property owner gets his job j back, he will not have to lose his home. ‘‘As a wtiole, the vast majority ol j lenders are going to foreclose only | where they see no other way out.” I

Mrs. Drear: For mercy’* |W|> Mrs. Cheer sake would you look at both got ro*y cheeks and my Polly and your Molly? * that’s • omething to be Playing In that mud pud- thankful for. As for the dirt, die and I haven't a clean D' * Oxydol will take that out j J • . Have you tried this new washing soap? p • Made by the same folks who make Ivory Soap, Oxydol is ‘ a real blessing for women who dread the dishpan and the washtub. Oxydol is easy on hands, and it gives half again as- - suds. It doesn't ball up or leave a scum—every partide dissolves instantly into foamy suds—that's why it’s so i®j6*spai|k' jmm l economical. See for yourself, it gets'rid of dirt and grease in a jiffy and tak£s the backache out of housework. Let Oxydol do the work W # PROCTER A GAMBLE

Join the Scrambled Letter Scramble; $125 in Prizes Offered Contestants

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Now that you've solved the mystery of the scrambled letter “A,” published in The Times Thursday, you can start on “B." A prize list of $125 is offered Times readers in the scrambled letter contest and a little work and plenty of fun may mean cash in your pocket. f Hundreds entered the contest Thursday, many of 'them going it splits ire and others organizing parties in which prizes are offered for those who show the most speed in arranging the scrambled parts of the letter into their proper places. If you miss any copies of The Times containing the puzzle, call

SC You’re 3S Set for Fall " With a New _ 1932 FELTgIy ■ y . miirl new Trl>:n J tli.it put Olio's K.nPI p

;at the circulation department, where back numbers have been jsaved for you. i Rules of the contest follow: The letters, cut in varying shapes, are I to be neatly formed together and kept until you have all twenty-six, when thev i should be sent to The Scrambled Letter i Contest Editor of The Times. Any one can participate, without cost, except employes of The Times. The Timos will pay prises totalling *125 j to the persons who send in the nearest j correctly solved, complete set of pussies. I This does not necessarily mean that you have to solve all the puzzles to win. ! Neatness, accuracy, and simplicity are the main requisites. Accurate rutting and correct assembling of the pieces will be j considered by the Judges, whose dcii sions will be final, in naming the victors. ! Elaborate entries will receive no more I favor than simple ones j Take the pieces which appear here and ! paste them neatly and carefuilv over the I letter which appears by the side of them.

THE INDIANAPOLIS TIMES

until you cover ft completelv. and follow this system on all twenty-six of the letters. All entries must be in within ten days after the last scrambled letter appears In The Times. All entries become the property of The Times and will not. be returned. LOAD OF COAL STOLEN Negroes Abandon Truck in Alley When They See Police Approach. A truck loaded with a ton of coal is being held by police today while an effort is made to find the owner. Policemen saw two Negroes drive the truck into an alley between Ralston avenue and Hovey street, north of Nineteenth street. When the officers approached, the Negroes ran.

B'NAI B'RITH DELEGATES FROM CITY APPOINTED Four Chair Officers Will Represent Local Order at Parley. The four chair officers of the Indianapolis B'nai B'rith today were named official delegates of the local order to the annual state convention of the Jewish organization, which will be held here Sunday. Business sessions of the parley will be held from 10 to 5 at Xirshbaum Center, and the annual banquet will be at the Lincoln at 6:15. The local delegates will be Charles J. Karabell, president: Richard K. Munter, first vice-president; Nor-

j TOMORROW j l Last Day of Our l j SHOE SALE j l 50 JNew Fall Styles I • Made to Sell for $3 to $4 J • Sizes // i \ • • 3to 9 \ * | $1.49 | • All the wanted materials. • • Black, Brown, Suede Kid and ? I Calf. • m H/hen Ihshtan and Jbet fym Charles Washington w

' *>>s < go* Around the corner and down your way comes his mellow accordion ... a song on l^G Ve S ° *° S eart ’ a jp Mr Light up your Chesterfield,'fling wide your radio mjjmjr window and listen... for he has many tales to tell you. Every Tuesday and Friday night. THE CIGARETTE THAT’S Ali/der n. . e-u nr i> * r • , / r Chesterfield Radio Program —Every night except THE CIGARETTE THAT Tarfefjßetter Sunday, Columbia coast-to-coan .Network.

man E. Isaacs, second vice-presi-dent. and George A. Solomons, financial secretary. Joseph Cohen of Kansas City,

Rooms Completelv Furnished veneer vanity, ch£st, bed complete p 1 .r.: with bench, pillows, spring and ‘p jtj The Dining Room |J|j DQ IB Here in the dining room is a lovely ->i 8-pc. walnut suite, also a mirror, pjjj§|jj! table* scarf, buffet light anS dishes. jpla j iluiltchs

B'nai B'rith district grand lodge No. 2. will address the convention at 11 Sunday. Richard Gudstadt of Cincinnati will speak at the ban-

.SEPT. 16,1932

quet. Harry N. Levin, state president. will preside at the Kirshbaum business sessions.