The Daily Banner, Greencastle, Putnam County, 1 July 1939 — Page 3

THE DAILY BANNER, GREENCASTLE, INDIANA, SATURDAY, J CXY 1, ly39

aiOlWIC COIIflES FlifiST Build ♦ Repair ♦ Remodel ♦ NOW!

[A Mortgage System Shields The Public Against Speculation

.Uir Federal Housing Administratiwl’M Insured Mortgage System strvi's as a safeguard against specktion and inflateil valuations in the pnt accelerating real estate mar- | according to Administrator

irt McDonald.

irr buyers guard their own in^ts by taking advantage of the ked Vortgage System’s protectee devil • s. Mr. McDonald avers. l«ln tii s of rising activity in the Bam -t tiding field, when mortgage inqi rs are desirous of placing their non y in real estate, there is a tend<nc> to make appraisals which indicate ti"- great a confidence in the (itu [lermanency of values,” Mr. ^Honald points out. v i nation and risk-rating techi has been developed by the FedHousing Administration which i the possibility of the final (•Hi.cd reflecting the prejudices ‘ ambitions of any one man. It [ bi on the judgment of several ilv trained men, no one of whom hi vi any personal interest in Evaluating or under-valuatlng. out opinion, therefore, home -e protecting themselves and families by applying for a t: insured by FHA. With a Jparativt ly small cash equity, alp poison with a sound credit

rating and an adequate source of income can obtain a mortgage through approved lending agencies. There are thousands of these throughout the country, with at least one serving viitually every section.” The valuation and risk-rating techniques used by the Federal Housing Administration in its examination of the possible risk involved in a mortgage insured under the Insured Mortgage System have now been accepted as standard by reliable mort-gage-lending institutions throughout the country. The FHA-compliance inspection system serves as an additional protection to the home buyer, Mr. McDonald point out. This device serves as a definite check upon “jerry-build-ing” practices. The average person, unfamiliar witn good building practice, is prevented from investing in houses which are unsound as longterm investments. INSI LATING ‘BY UKGKKKS’ EASY ON FAMIl.V IM'KSK Home owners desirous of obtaining the benefits of insulation, but who cannot afford to pay for a complete wall and roof insulating job, should try insulating their houses by

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BUILDING AND REMODELING IN AND AROUND GREENCASTLE

Remodelinir At

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\<>. 3 << OST $”300 $96.501

Minimum Two — Bod Room BASEMENT HOUSE

This offers efficiency on one floor with the traditional basement for housing the heating plant. The kitchen provides ample space for eating. The exteiior corner decoration, the front door, and the shutters are fabricated from stock log cabin siding patterns. If built without a

basement, the space now occupied by the cellar stairway might serve as a heater room. The show lines in the shingle roof are produced by double courses of shingles as a variation in roof appearance.

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DIRECT

FROM THE FACTORY

TO YOU

—

Due to a direct connection ivc have with a manufacturer of the highest class kitchen and bathroom fixtures we ran now offer them to you, a superior value, at a very low price. Come in or phone us for estimates.

BUIS PLUMBING & HEATING

PHONE Itkl

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“degrees." Any house can be insulated on an installment plan—part by part. According to heating engineers, the roof rafters or top floor ceiling of th" average house suffers the greatest heat loss. It is also a store house of excessive heat during the summer months. This can be corrected by laying bats or strips of mineral wool j between the joists of the top floor ceiling or between the roof rafters. At least 3 5-8 inches of insulation is recommended. Loosely fitting doors and windows that leak blasts of chilling air also require attention. They should be sealed with metal weatherstripping. The side walls of the house should then be insulated; in most houses.

outside walls are responsible for the second largest heat loss. In an al-ready-built frame or brick veneer house, insulation can be pneumatically installed. In a house under construction, however, the insulation may be installed between the studs before the lath and plaster are applied. Such insulation will eliminate 75 percent of the ordinary heat loss

through the walls.

DAMPNESS CUE VI ES NUSANCE IN HOME

Probably the biggest deal in the building line is the contract whicii was recently released for the improvement of the Kappa Kappa IS i Gamma house. The house will be one [g | of the most impressive on the campus. While it will not be any particg) ular architectural style it leans heavp] ily toward the Normandy Chateau [|j style. The present porch will be torn H off and the front wall extended, pi There will be a rtoop and pillared ;i| front. Metzgers are supplying the [g lumber and materials.

Start On Home

The Simpson Stoner house is under way with excavation started on the basement and a few of the tile

l’l I already put in place,

pi ; The Glenn Daggy home near Manhattan is enclosed and plastered tj| While Dr. W. R. Hutcheson is buildill I ing this house for his nephew he is |] i also having seven sets of buildings painted white. Many of these structures are farm homes and barns.

Predicts 20-25 Homes

It is rather interesting to note that it was predicted some time ago by a local lumberman that there would be about 20 to 25 homes built in and around Greencastle. In checking up we find that this party did not quite fulfill his guess as yet but he stands a good chance of doing so. At present there have been 12 jobs started or contracts let for new homes. The Prof. Y’oltmer home in Northwood is graded, plastered and fast nearing completion. At the present time the hardwood floors are being finished and the window and dootrim should be finished today.

Few home owners care to look ahead to cold weather, hut many household jobs are more easily handled during this period of the year, and to postpone them until necessity

THREE PUINCIPAI. EACTOKS BEAK ON KEI'AIK JOB

IIA MONTHLY PAYMENTS INC LUDE PRINC IPAL - INTEREST - TAXES - INSURANCE

Don’t Let Another Summer

Slip Away... Without Ciettin«>: Started With The Building Of The MODERN HOME You Want and Need

Time Flies - And Now Is The Time To Build! LET US HELP YOU! There’s no need to delay the building of the new home you have dreamed of any longer—in fact, it is unwise in view of the trend toward higher prices. Financing a new home of your own is easy through the FHA Loan Plan, and we are prepared to assist you with the details, as well as to render you complete planning and archi tectural service. See us at once and be in your own home when winter comes.

A Modern Home Like the mie illustrated

here

CAN BE YOURS On Payments of Only $0 J.35

PER MONTH

ALLAN LUMBER CO. Inc.

401 North Indiana Street

Greencastle, Indiana

Phone 403

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COMPLETE BUILDING

REMODELING

REPAIRING SERVIC E

The three major considerations in the mind of the home owner when lie contemplates modernization of his home are: (1) How much is added to comfort and livability; (2) how much is added to the property as an I investment; i3' how much is added to the home owner's pride of owneri ship. The movement throughout tlv’ country on the part of home owners to modernize their dwellings, to safeguard their property investments and to maintain America’s high standard of living, has been given considerable stimulation by the Property Improvement Credit Pla.n of the Federal Housing Administration, makes the demand acute is only adding to the difficulty. One such problem which should lie faced now is i,n the case where dampness appears on the inside surfaces of texterior walls as a result of conditions other than leakage through mortar joints or around window frames. In some sases such dampness Is so pronounced that frost can be swept off the walls during prolonged cold spells. It causes wall paper decoratic.ns. In addition, it creates a damp, musty atmosphere in the rooms affected which is unhealthful and generally unpleasant. In the cases where this trouble exists the source of the moisture should be found and then eliminated. Funds for carrying out the necessary work are obtainable from qualified lending •nstitutions under the Property Improvement Credit Plan of the Federal Housing Administration. If reduction of moisture does not overcome the difficulty, an attempt should be made to make the interior wall surfaces warmer by insulating them against the chilling effects of outside temperatures.

Damaged Farm Properties Can He Renovated Barns, houses, and other buildings on farm properties which may have been damaged by fire or other disaster can be rebuilt or repaired with loans obtained from lending institutions insured by the Federal Housing Administ ration. Short-term loans insured under FHA’s Property Improvement Credit Plan make possible the repair of minor damage to farm buildings or the farmhouse. The construction of new accessory buildings to replace those destroyed by fire or other catastrophies may be financed under the Property Improvement Credit Plan. Farm borrowers may also obtain from lending institutions long-term mortgage loans, insured by FHA, to be used for rebuilding farmhouses or farm buildings. Farmers should apply for shortterm loans in cases involving minor expenditures for repairs and similar projects, FHA officials say. Major replacement or repair programs may be eligible for financing under the farm-mortgage program so long as the borrower can establish his ability to meet monthly or periodic payments and so long as the farm property meets certain requirements. PAINTING WINDOW GLASS To paint over window glass, as ia sometimes desirable when the glare of light in a room is too strong, a j | paint vehicle should be used which I has a good adhesive quality and . elasticity. A thin paint coating re- I dueed with turpentine should be used. Make sure that the glass is perfect- I ly clean before painting it and, as a | final precaution wipe over the glass with denatured alcohol to remove ; any fingerprints or other greasy |

marks.

Hoatrijrlit Buys . , )7.f)l)0 Shingles The Carles Boatright home, we ;t of Greencastle, that was damaged by the storm, is being supplied with materials by the Allan Lumber Company. While repairing the roof Mr. Boatright decided to reshingle th” house and some of his other buildings. The order called for 37,600 shingles. George Spencer is the contractor on the job. O. K. Van Ausdall is reroofing a barn at Stilesville. Gnsaway Home Finished The Syd Casaway home is finished and has been moved into. On the Edward Eiteljorg farm fivi miles northwest of here there ar-’ some repairs being made. Mr. Eiteljorg is an ex-trustee of Greencastle Township. The black structural glass on tli' Stevens Drug Store will be set Monday as will the plate glass. This has been a short time for this type of

job.

The addition to the office at Dr. Rhea’s place is just about finished and makes a very attractive office with its knotty pine walls and insulite ceiling.

REPAIR LOAN FEES ARE AT LOW LEVEL

The charges for loans with which to make repairs or improvements to property under the Federal Housing Administration Credit Plan are the lowest ever available for this type of financing, FHA officials say. While these loans are usually paid back in monthly installments, farmers may arrange for repayments according to the time when they receive payment for their produce: In the Spring, Fall, or both. In every case there must be at least one payment made each year.

Ei3rai^®a®ai^'aHae!®aisiaiajajBiajsiajaja®a®a®aiajaE) r !5iajiSiajaiaiaisiaME. , :i MR. FARMERCan Rats - Mice and Weather

SAYERS INSURANCE AGENCY EXPERIENCE In writing Insurance means better agency service. SAYERS —P’lONE —

GET INTO YOUR GRANARY OR CRIBS? You know what will happen to a lot of new grain and feed if they can. We just want to remind you that it is easier to make your grain storage space safe NOW against rats and weather than it will be when you are ready to store your crops. FRESH CEMENT - NEW ROOFING BRIGHT NEW WELL - SEASONED LUMBER r FOR THE JOB Are Ready For You Here If you are going to build new grain storage room, may we help you with plans or ideas, information, figures, etc., as well as the materials you will need? Let us help you with all your improvement work. We know we can give you the best of service, the largest selection of materials and prices you will appreciate. WE HAVE A FINE STOCK OF FARM GATES SEE THEM! METZGER | LUMBER CO. j 117 West Franklin Street T "— l OI5ISJSJtilI3iSJSISS’S3It5ri2n9iSI3JSM2M3®3I5I3Ic | jSI3J3iE®SISI03jS®SI:l’i3

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