Show THE The Great Game of HOUSING PLAN PROTECTS BOTH SIDES TO DEAL lias Chance to Save Something in Case of Foreclosure ’a V1 Politics J ( I By JAMES A MOFFETT Federal Housing Administrator (Copyright 1934 br Associated Press) WASHINGTON Nov 17— Owing to the close scrutiny to which all properties will be subjected before they tan be accepted as security for mort gages insured under the federal housing administration’s mutual insurance plan it is not expected that many defaults in intereat or principal will take place When such exigencies do occur however the provisions that have been made to cover such developments are in my opinion so fair and just to all concerned as it has been possible to make them The method of procedure Is as follows: The any chance for a Republican to gain one of these feats The other eight Democrats up In 1936 are from states In which there is now a Democratic governor which is held to give the Democrats a 1936 advantage— Bulow of South Dakota Cool-i- d Costi-ga- n ge of Massachusetts of Colorado Erickson of Montana Hatch of New Mexico Lewis of Illinois Neely of West Virginia Logan of Ken- The Tribune presents herewith the last of a series of articles on how the housing act is now operating to promote home construction tucky It is possible the Democrats may lose some of these eight but it is equally possible they will gain some seats held by Republicans who come up that year These include Barbour of New Jersey Borah of Idee ho Capper of Kansas Carey of Wyoming Couzens of Michigan Dickinson of Iowa HastKeys of ings of Delaware New Hampshire McNary of Oregon Metcalf of Rhode Island Norris of Nebraska and Schall of Minnesota White of Maine It is thus clear that unless there is a remarkable reversal of sentiment in the next two years the Democrats will make further gains in the senate in 1936 Now when we come to 1938 there are 27 Democrats and five Republicans whose tqrms expire But of the 27 11 are virtually not open to successful Republican attack If the Republicans should gam all the rest which is a political impossibility as things are now they will still be short a senate majority It would take a great political upheaval in the 1936 campaign followed by further big swings against the Democrats in 1938 and 1940 to wipe out the Democratic senate majority before January 1941 During that period they might lose the presidency and the house but the chances of losing the senate are certainly re- lender may foreclose in the customary manner and then sell the If it should bring enough property to clear up the mortgage and all ex penses the mortgagee probably would not bother with the insurance and the entire transaction would be terminated Or the financial institution holding the mortgage may buy in the property and handle It as it sees best and thus ignore the insurance feature entirely May Take Bonds The remaining alternative would be for the mortgagee after bringing foreclosure proceedings to turn the property over to the federal housing In return for this administration the lending institution would receive a debenture and a certificate of claim The debenture would be for an amount equal to the unpaid principal of the mortgage at the time the title to "the property was delivered to the federal housing administration plus mote This situation Is not really as any payments that may have been surprising as it seems It is primade by the lender for taxes and in marily due to two things — first surance d the fact that only of Both the debenture and the certhe senate Is elected every two tificate of claim would bear interest at the rate of not more than 3 per years and second the unshakcent a year The debenture would able Democracy of the southern states In the party’s darkfall due three years after the original est days — for instance from maturity date of the mortgage 1920 to 1928 — the Democrats alAll debentures of this description ways had an irreducible miniIssued m exchange for mortgages inmum in the senate They were sured before July 1 1934 will 1 fully guaranteed as to principal ana never very far from a majorinterest by the United States governity They might lose the house and the presidency in a strong ment thus putting them m the same Republican year by heavy macategory as government bonds jorities but it was Impossible Could Hold Property to proportionately reduce them The main item of course covered iij the senate In the certificate of claim would be unpaid interest on the mortgage from (Copyright 1934 by The the time it was defaulted until the Baltimore Sun ) fedproperty was turned over to the eral housing administration to say that under titles II and III of Inasmuch as the property under this proceduie would be owned out- the national housing act greater safeguards are thrown about the home right by the federal housing adminis- owner tration it could be sold when the of fundsthan before while the lender for home financing receives market was favorable or kept and protection against loss than rented for as long a period as might greater under any plan or system that has appear desirable thus far been devised When the property was sold there Would be deducted from the net amount realized first the expense of handling the entire transaction then the face amount of the debenture with interest paid on it to date Whatever sum might then be left would be used first to pay the certificate of claim with interest and the remaining funds would be turned ever to the former property owner Owner Hu Chance It is important to bear in mind In Eat Wilh Your connection with this part of the pro- ‘Don’t cedure that under the insured mortKnife Soviet Paper the foreclosed home gage plan owner stands a chance of saving Exhorts Workers something out of the wreck whereas under ordinary mortgage procedure foreclosures leave little if any opporMOSCOW Nov 17 (JP) — ’’Shave tunity to recover anything in exevery day” is the advice of Izveetia change for the equity Moreover the terms under which to workers ‘Give us better razors” some of mortgages are given in the operation of title II of the national housing act the newspaper’s letter writers rereduce the possibility of foreclosure plied to the minimum This is true beIzveetia exhorted the workers also cause the mortgage may run for 20 to give up their seats in street cars years and may be paid m convenient to women and "don’t eat with your monthly instalments while the ex- knife- pense of short term junior financing Proletarian Russia rapidly is driftis eliminated And of course the ing away from the rough lender will fare better under our plan manners of the leather coated men than before because he is fully in- and women who delighted in the early sured against loss days of the soviet regime to show Thus it seems fair and reasonable their contempt for the refinements May Be Banned It was intimated that unshaven men may not be permitted to ride in the new Moscow subway That threat is expected to create a new demand for razors and shaving soap for the residents are more interested in the subway than anything else at the moment A tale Is related of one commissar who refused to grant an audience to an unshaven and unkempt engineer Professor Otto Schmidt’s requirement that all men of the cheliuskin party shave every day while they were afloat on the ice of Bering strait has gone into the copybooks and the humor of this requirement from the Arctic explorer who has one of the most luxuriant beards in the soviet union has not escaped the cartoonists He is caricatured in connection with the antiwhiskers campaign Army Shaves Dally All members of the red army shave daily Some of the citizens who wrote their reactions to the press said they would rather face an enemy in the trenches than to shave every day with Russian blades HOLLYWOOD Nov 17 (UP)— Strike a medal for Rudy Vallee who qualified tonight as the bravest man m Hollywood by naming what he considers the 12 most beautiful women in motion pictures He made plain that he did not name the girls in the order of their pulchritude They were divided evenly between married women and single Here Is Rudy’s list: Dolores Del Rio wife --of Cedric Gibbons art director ' Fay Wray wife of John ders writer near East London were instantly killed when lightning struck the hut in which the party was held dispatches reaching here said today Only three of the 64 natives who had South Main Salt Lake City gathered tof the party survived ’ BELL TAILORS 252 479 Washington Are Ogden LCali Mrs M Creswell a former school teacher has been elected the first woman mayor of Walsall England London night clubs are reviving Sale of Down Comforts S4 $1 095 SI Down — SI Down — S4 a Month Priced low even though this is one of our newest styles Just arrived for Fall shoppers! 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Enjoy the unexcelled performance and glorious tone that have made RC the most accepted radio Victor RaiUoe low IIIGII CHAIR VALUES $195 very good Investment for baby's comfort and safety Better choose early tomorrow A $2495 Powerful Circulating Heater A Bargain at $29°° S3 Down— $2 Be the Envy of Your Guestg With This Suite— Only Walnut s Down $5 a Month hospitality runs highest and you usher your guests into the dining room—what ' hear their honest tributes to your good taste! Here’s a splendid dining suit of sound construction designed to give the walnut and other fine contrasting hardwoods full prominence! 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BOLT KILLS BEER DRINKERS CAPETOWN Union of South Africa Nov 17 (iP) — Sixty-on- e natives g participating in a party IS WEDS TEXAN BARON LONDON Nov 17 ()—' The Baron Conway of Altington married Mrs Iva Lawson 32 formerly of Texas In the Caxton Hall registry office today The marriage is Mrs Lawson's second her first husband dying in 1930 as the result of a shooting accident Baron Conway a noted mountain climber is the author of many books on art and travel Including Smart New Suite and Ottoman to Match Learn Manners y one-tim- e has been acting in "Sweet Music” That’s Rudy’s list and he’ll stick to Monk Saunit even if he has to leave Hollywood Ginger Rogers who was married this week to Lew Ayres Marlene Dietrich in private life Mrs Rudolf Sieber Greta Garbo the silent one born Greta Louvisa Gustafson Ann Sothem who used to play under the name of Harriet Lake Carele Lombard William Powell's girl friend born Jane Alice Peters Barbara Stanwyck wife of Frank Fay vaudevlllian Marion Davies most recent acquisi Russians Urged To Shave Daily A— — i 3 Three Pieces one-thir- FACTORY 1934 tion of Jack Warner’s studio Joan Crawford divorced wife of Rudy ‘Daredevil’ Vallee Selects 12 Douglas Fatrbanki Jr Alice I aye Rudy sweet As Movie’s Most Beautiful Women heart Ann Dvorak with whom Rudy (Continued from Pan One) Owner SAIT LAKE TRIBUNE SUNDAY MORNING NOVEMBER IS Good Range This One Is $ ’ll $69°° gw-'— Smart — Stylish— And Surprisingly Low in Price— 4 Pieces Only lu I ‘‘ S5 Down— S5 a Month If hospitality doesn t start in the kitchen it gets much of Its inspiiation there! 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Patterns ooplra of priceless masterpieces of a richness rivaling the insnired work of weavers who achieved lame by their handwork perfection are now available for your home at but a fraction of the value of the original Orientals Reproduced In these colrugs also is the combination of deep-tone- d of And the such characteristic rugs orings colors sre woen through to the back as ilIt s a most extraordinary value lustrated made possible by a huge purchase AXMINSTER RUGS AT $1900 nd $2950 Eeplace at Worn Linoleum Big Savings PARAFFIN FELT BASK RUGS— Rarely do you find new perfect standard quality felt bass rugs priced as low as this! Many finish Rues patterns I? that lie flat without tacking $1 00 Down 91 00 Patterns hut Good Ones - Close-o- ut You out-of-tow- n your order a Month $495 ARMSTRONG UNOLEUM— A large selection of the newest patterns and color schemes to select from! 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QAa 2 square yards As Long as One Tear to Pay FLOOR-E-LEL’- RUG CUSHION PADS—Double the life of your rugs and ada beauty to your home VxU and QO Cf smaller else folks — if you can’t drive in write in to Jolin West to fill You’ll get the same low prices and delivery to your very door LJ Cedar Chest 4 Roomy Shelves Bird Cage & Stand $395 All Inexpensive case for your books It Is walnut finish and e has a rich hand rubbed sur-fac- $200 An outstanding special that will Choice of mean fast selling colors $1395 SI Down— SI a Month The manufacturers of these mag- nillcent chests will not permit us l to advertise their name but ’ you-wil- make no mistake in choosing one for your home at this spectacular figure |