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54 WJLMB.T T B . tiPB . October ·s, 1928 r---llillllllililiiiililiiliiililillil.__llilll~~;;;·~;..--..1 Zander Niunea ComiDi~tee · to Look. Into Agriculture · A nnstrong's Ll INEXPENSIVE MODERN PRACTICAL The National- Association .of Real Estate Boards has appointed a special committee to .make a study of present general conditions surrounding the industry of agriculture. The study looks to a better understanding and greater co-operation between American business and the farmer. Thomas D. Campbell of Hardin, Montana, has been named chairman of the committee. Mr. Campbell is the head of a farming corporation which operates a Montana farm of 95,000 acres, probably the largest cultivated farm in the world. The committee was appointed by Henry G. Zander, Chicago, president of th.e National Association. New Home Finance Plan ·Is Revealed by $1,000,00~ Loan What is termed by authorities as an entirely new development in homeowning financial pactices, has developed in realty circles. The fac~s come to light in an announcement that the Home Mortgage company of Durham, N. C. had secured a loan of $1,000,000 from S. W. Straus & Co., giving among other security 300 first mortgages on completed homes in North Carolina. In addition to this group of small mortgages, the trust indenture stipulates that the borrowing corporation buy a term life insurance policy on the life of each mortgago.r or on the life of anyone having an in surable interest in the mortgage property. The purpose of this is that if, at anv time during the life of the mortgage, the borrower dies, the mortgage is paid off from proceeds of the insurance. It was pointed out yesterday that in various parts of the country, a few real estate concerns selling lots have re quired that the mortgagor furnish an insurance policy as an additional safev.uar~ against default in meeting deferred payments, but it was said that the placing of mortgages on completed homes in conjunction with the life in surance feature represents an entirely new departure. James 0. Cobb, president of the Home Mortgage company in Durham, is credited with the origination of th<' plan which not only places additional security under the mortgages but eliminates the necessity of ever being ~ompelled to bring foreclosure proceedings to deprive a widow or orphans of their home. All the mortgages covered by the million dollar loan are on completed properties~ Plan Apartment Building for Comer in Evanston Plans are being drawn for an apartment building at the southwest corner of Ridge boulevard and Austin street, Evanston. The lot is 78x1SO. The corner was taken in trade by Theodore L. Williams, who sold the six stores, twelve flats, and nine garages at 6235 North Western avenue, lot lOOxl~O, to · Kathrvn R. Binder. · Knipp & Shapiro were -brokers. BUILDING KEEPS LABOR BUSY Labor is generally enjoying its full share of prosperity in the large cities, partly because of the greater use of mechanical power in building high wage rates and the full utilization of natural resources. BUILDING MATERIAL IS FIRM The firm building material market continues. Few price declines occurred. Such as were reported were purely local, as for example starting materials in Chi~ago and Los Angeles. . Laid in the above home by FLOOR~O-LEUM STORES An Indian Hill Estates Home located just southwest of the Indian Hill Golf Course. You may select from the largest stock of Armstrong's Linoleum north of the loop · and we welcome price comp~rison always SILE THE NOISELESS OIL BUf\NE" Telephone Greenleaf 1941 Our representative will gladly help you select floors of linoleum that will harmonize with your furnishings. Silent Automatic is one of the most economical of all Automatic Heating Devices. Do not allow vourself to be fooled by the statement, that by using low price oil you can cut your heating bill. Silent Auto· matic will heat your home for less money per season. Let .us explain the reason why. FLOOR-O-LEUM STORES C. BINGHAM MILLER 1009 DAVIS ST. EVANSTON Evanston Showroom, 1620 Sherman Avenue, Greenleaf 700