THURSDAY, SEPT. 20, 1134
THE FRANKLIN PRESS and THE HIGHLANDS MACONIAN
PAGE FIVE
HOUSING LOANS
NOW AVAILABLE
FHA Program Intended
To Increase Building
Activity
In an ambitious movement de
signed to lift the lagging construc
tion and capital goods industries
out of the doldrums, the Federal
Housing Administration has launch
ed its nation-wide program to en
courage the repair and moderniza
tion of residential and commercial
properties.
This program is in line with the
objectives of Title 1 of the Na
tional Housing Act, passed by the
73rd Congress as one of the .most
important pieces fo recovery legis
lation since the National Recovery
Act
Under the terms of the Act, pri
vate financial institutions are en
abled to make investments having
the same degree of security and
liquidity as is possessed by their
best collateral loans. The Govern
ment makes no direct loans to
property owners, but, rather, cre
ates the machinery by which bor
rowers may obtain funds from
established credit sources with
greater ease than even in normal
times.
A National Need
Private industry and public offi
cials alike agree that property mod
ernization in the United States
constitutes a national need. Mil
lions of American homes, apart
ments, offices, stores, factories, and
other buildings have suffered se
riously from lack of normal care
and attention during the past four
or five years of depression. It is
conservatively estimated that 16,
500,000 buildings in the United
States have reached a serious state
of disrepair, and of these at least
3,000,000 have arrived at such a
physical state that nothing short of
a major building operation can save
them. The remaining 13,500,000
for the most part require only
minor repairs, but they are of the
character that must be initiated at
once to offset serious deterioration.
How Government Aids
The Federal Government, through
the Housing Administration, will
insure lending agencies against 100
per cent of all losses, provided the
total of such losses does not ex
ceed 20 per cent of the aggregate
amount of funds advanced for
property improvements. This in
surance is virtually an iron-clad
guarantee of protection for the fi
nancial institutions, since the high
est known loss ratio on similar
types of loans has .not exceeded 3
per cent.
Silver that is not badly tarnished
is easily cleaned by boiling it in an
aluminum pan with salt water.
Drain, and then rub with a piece
of chamois.
"Putting Up With If Days Gone
With New Housing Act Advantages
The outworn habit of "putting up
with what we have" should disap
pear under the housing plan. Worn
en are ever so weary of looking
at the old front porch, wishing for
a new one, signing and saying,
"Well just have to put up with
it. Ihose dreary "putting up
with it days" may be discarded to
the everlasting joy of the whole
lamily.
Such a variety of thines can be
done to the interior and exterior of
the house under the flexible pro
visions of the repairing and recon
ditioning section of the National
Housing Act which is now operat
ing, that every home may add
something new now.
Borrowing money for home re
pairs is a comparatively new idea
to American home owners. Loans
for all movable things are common,
but not so for those things that
become a permanent part of the
home. Under the new government
plan it is practical to do this and
economical to borrow enough mon
ey to make all the needed repairs
and improvements.
First things come first with the
practical American housewife and
those things which are absolutely
essential will be given immediate
attention those leaky roofs, torn
or dangerous stairway treads, fire
hazards, etc The same budget
which provides for these essentials
may be enlarged to include some
other needed repairs that have been
so long neglected that floor for
the attic or partition for the base
ment Making all these improve
ments, purchasing all the needed
new equipment with one loan, ef
fects an appreciable saving over
the old method of doing each little
job or making each little purchase
separately.
LEGAL ADVERTISING
NOTICE OF SALE
North Carolina,
Macon County.
WHEREAS, power of sale was
vested in the undersigned Trustee
by deed of trust executed by J. L.
Kinsland and wife, dated 28 June,
1929, and registered in the Office
of the Register of Deeds for Macon
County in Mortgage Book 31, page
191 f and default having been made
in the payment of the indebtedness
secured thereby, and the holder of
the notes having demanded that
the undersigned Trustee exercise
the power of sale in him vested;
I will, therefore, by virtue of the
power of sale in said deed of trust
in me vested, on Thursday, the
18th day of October, 1934, at
12:00 o'clock noon sell at the Court
House door in Franklin, North
Carolina, at public auction to the
highest bidder for cash the fol-1
lowing described property:
A tract or parcel of land, situat
ed in Franklin Township, Macon
County, State of North Carolina,
and described as follows:
On lotla Street, in the Town of
Franklin, and adjoining the lands
of Mollie Collins, Mary Collins and
R. D. Sisk on the North; the Bap
tist Church property on the East;
Mrs. Charley Haynie on the South
and lotla Street on the West.
This the 18th day of September,
1934.
R. D. SISK, Trustee.
S20-tcJ&J-Oll
LEGAL ADVERTISING
NOTICE OF SALE
North Carolina,
Macon County.
WHEREAS, power of sale was
vested in the undersigned Trustee
by deed of trust executed by Jess
Coleman, dated 28 July, 1930, and
registered in the Office of the
Register of Deeds for Macon Coun
ty in Mortgage Book No. 31, page
334; and default having been made
in the payment of the indebted
ness secured thereby, and the hold
er of the notes having demanded
that the undersigned Trustee exer
cise the power of sale in him vest
ed; I will, therefore, by virtue of the
power of sale in said deed of
trust in tne vested, on Thursday,
the 18th day of October, 1934, at
12:00 o'clock noon sell at the
Court House door in Franklin,
North Carolina, at public auction to
the highest bidder for cash the
following described property:
A certain tract or parcel of land,
situated in Franklin Township, Ma
con County, State of North Caro
lina and described as follows.
Bounded on the North by lands
of John Justice; bounded on the
East by lands of Otto Womack;
bounded on South by R. M. Shook,
and bounded on the West by lands
of Geo. Guest, containing about
one-half acre and being all my
home place.
This the 18th day of September,
1934
' J. H. STOCKTON, Trustee.
S20-4tcJ&J-Oll
How To Get
Repair Loans
Here, in a nutshell, is the plan
for borrowing modernization funds
under the Federal Housing Pro
gram
1. A modernization loan is solely
for the purpose of repairing, alter
ing or improving your home, shop,
farmhouse, store or other building.
Diversion of the money to any
other purpose is strictly prohibited.
2. It cannot be for less than
$100 or for more than $2,000. The
borrower must have a bona fide
source of income equal to at least
five times the annual payments.
3. It can be made for terms up
to three years, but may be paid in
full earlier than the maturity date
if the borrower desires.
4. Maximum charges, including
interest and fes, cannot exceed
an amount equivalent to $5 dis
count per year per $100 original
face amount of the note.
5. To get a modernization loan,
the property owner must present
to the bank or other lending insti
tution a precise estimate of the
cost of the improvements and
should be able to prove that they
are necessary or advisable.
6. In addition, the property own
er must file a Property Owner's
Credit Statement, showing his fi
nancial condition, sources and
amount of income and other infor
mation necessary to determine his
ability to repay the loan.
If the bank considers the im
provements advisable, and the prop
erty owner able to meet the pay
ments when due, it can advance
the money on the personal note
of the property owner. The note
must be signed by both husband
and wife, if the property owner
is married. No mortgage or col
lateral security is necessary, unless
State laws or the financial institu
tion's officials demand it.
LEGAL ADVERTISING
You can prevent eggs from
cracking by pricking with a pin
before you boil them.
NOTICE OF SALE
North Carolina,
Macon County.
WHEREAS, power of sale was
vested in the undersigned Trustee
by deed of trust executed by T.
B. Ashe and wife, Arie V. Ashe,
datet o Marsh, 1929, and registered
in the Office of the Register of
Deeds for Macon County in Mort
gage Book No. 31, page 153; and
default having been made in the
payment of the indebtedness se
cured thereby, and the holder of
the notes having demanded that
the undersigned Trustee exercise
the power of sale in him vested;
1 will, therefore, by virtue of the
power of sale in said deed of trust
in me vested, on Thursday, the
18th day of October, 1934, at 12:00
o'clock noon sell at the Court
House door in Franklin, North
Carolina, at public auction to the
highest bidder for cash the follow
ing described property:
In Franklin Township, Macon
County, North Carolina, and de
scribed as follows: Beginning at a
stake on the bank of Highway No.
285, the North corner of the Fred
Jacobs tract of land, runs thence
S 58 E 178 feet to a stake; thence
S 32 E 107 feet to a stake; thence
S 58 E 39 feet to a gate post;
thence S 59 E 143 feet to a fence
post; thence N 23 E 354 feet to
a stake; thence N 26 W 67 feet to
the Highway; thence with the
Highway to the Beginning.
Also Lots Nos. 10, 11, 12, 13, 14,
15, 16 and 17 in Block One in a
tract of land in Macon County.
North Carolina, known as the Ly-!
man Field, as surveyed and mapped
by W. B. McGuire, reference being
hereby had ' to said map as record
ed in Book 1-3, records of Macon
County, North Carolina, pages 56
and' 57, for a fuller and more par
ticular description of the land and
lots hereby conveyed.
This the 18th day of September,
1934.
R. S. JONES, Trustee.
S20-4tcJ&J-Oll
JUST RECEIVED
A Car Load of
METAL ROOFING
NAILS
WIRE FENCING
(Barbeci & Field Fencing)
See Us for Your
Hardware Needs
Information On How To Obtain
HOUSING ACT LOANS
Can Be Obtained at This Store
Macon County Supply Co.
LOANS
To Improve Homes and Business
Property
THE JACKSON COUNTY BANK is ready to make repair
and improvement loans to property owners in Western
North Carolina who qualify under the terms of the Federal
Housing Administration as provided by the National Housing Act.
Among the conditions requisite for a loan are that the bor
rower must have an adequate, regular income from a dependable
source, a good debt-paying record in his community and must
be a property owner. As in all bank loans, the financial con
dition of the borrower will determine the conditions of the loan.
Amounts from $100 to $2,000 may be applied for, based on
applicant's income. Loans are repayable monthly and may ex:
-tend as long as three years. The total charge for the loan is an
amount equivalent to a discount of $5.00 per year for each $100
of amount of the loan there are no other costs.
We are doing this to co-operate with the Government in a
program whereby they not only expect to create better housing
conditions but also to promote a building activity which will
give employment to thousands and improve the entire real estate
market. In that spirit, this bank as a leader in this community,
offers its facilities, and courteous, prompt consideration to
qualified applicants.
The Jackson County Bank
Sylva, North Carolina
3 per cent interest paid on time and savings accounts. All
accounts insured 100 per cent up to $5,000 as provided
by Federal Deposit Insurance Corporation
It is far cheaper to paint a house, barn or
It is far cheaper to paint a house, barn or
Other type of building than to allow it to go to
pieces through deterioration.
"Yes, I know that," many people may say,
"but I can't afford to paint my house now."
That is no longer a good excuse. Through
the Federal Housing Act Uncle Sam has pro
vided a means of financing necessarf repairs to
property. Anyone with a definite income and
good credit standing should be able to) obtain a
repair loan at reasonable interest charges with
a minimum of delay and red tapeWe will be
glad to give information on how to obtain such
loans and to furnish estimates on the costs of
necessary repairs.
Franklin Hardware Co.
Franklin, N. C
Franklin, N. C.