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'rk as- generated in :h the program, accord- Administrator Stewart By the first alaniversaryv of ýthe» signing of the National Housing Act, June 27, a nation-wide bouse-to-bhouse canvass to. determine 'modernization needs had covered 9,000,000 homes and .bad produced approxim ately 21000,000 -môdernization pîedges by home owners. At the same time 13,000 bankis, fir4ncet companmes, and other lend- ing institutions throughou h on MORTOACE LOANS.. We acin the 'market for conservative first mortgage ld4àns on iréidénces, apart- mont s and office buildings. Qui 0fs I INC. 1 N. La Salle St, Chicago! Central 0227 1571 shermaf, EÂ.,Ivauuto, tmvriy60 ji that hundreds of banks have ex- .pressed' entire satifaction witb the modernization credit plan. The modernization credit plan as originally p rovided. for, under the National Housing Act made it pos- sible for owners of one- to four-fam- ily .dwellings, to obtain credit f rom lending institutions in. amounits not in excess of $2,»0 for the* improvement and repair of. existing property. Such credit, advances are repaîd in regular instal!ments to the lending institution., No insuranice preinium is, required, on such loans. The max-, imum termn for such credit is 5 years. Eàtend CÇredit Plan Limita Recently the modernization credit Plan limits were extended t'O em- brace- commercial-residential, indus- trial and manufacturing properties. with the amount. insurable by the Housing Administration set at a new maximumn.,of $$0,000. Trougb this means a new and widespread market for mfodernization and repair was opened. Machinery and equipmént peculiarly adapted to buildings and to the operation of businesses con- ducted therein also are now eligible for credit. As in every other phase of Housing SHUET METAL WORK 0 GUTTERS S FLASH INGS *DOWNSPOUTS 0 DECKS Copper or Galvaniae<l Iron Milieu Hardware Co. 110 WUlette Av@. Wil. Soto -9 I EVTIN SERVICE CO. 011 Dura or Service * ALL MAKES IWhmetka37DayrornghtI properties.. Rea-estate men are finding that prospective tenants are not interested ini their dwellings unless the space to be leased is in good condition. A bouse wbicb bas bad the old batbrc'om re- placed witb a new. and modern one, or an apartment that ba.s had, the kitchen newly equipped is ýmore de- sirable,.and will generally bring a higb-, er rentai. thani a neglected structure. Administration operation, these credit advances are made by private lending institutions at their own, discretiofi, with the credit insured by the Flous- ing, Administration. Tella Aima of Credit Plan "The modernization credit plan,", Mr, McDonald. said. rece.ntly, "is. a quick-action,, hôme-emergency planl designied to energize businessby fa-, cilitating repairs to homes and- buildings. Owners -of almost. anyt type of building may borrow money for repairs- and improvements f romn private financial institutions approved by the Housing AdminiStration. "Today, after a year of ope-ation, iterallv hundreds of thousands of homes bave been given a new lease on life. Our living and wvorking conditions bave been nmade more at- tratiemore efficient, and more stable as a result. In the 'coming montbs I anticipate eveli greaerr strides in modernization tbroughout- the country," REAL ESTATE ILOANS Have funda to loan 'on choice North Shore residential.and busi- ness properties at reasonable rates. E. G. Poulin 9. Co. 10 S. La Salie St. Chicago Frailhm77401 will be a useful addition. lIn bad weatber it is convenient to be able to drive into the garage and enter the bouse under covjer. The covered passage may be designed to be an interesting arcbitectural feature ofý tbe residential gtôup-, It need, not be. enclosed, but, sbould, be wide e nougb to protect a gooid portion. of it. If there is a pr.evàiling wind direction wbich will drive. rait or .snow acr oss it, that sidé -May be enclosed. However, adequate yen- tilators. should be inserted if the r ear -garden is small, for tbey w ill aid in keeping the.area cool ini the' summer. Plain white sqiuare col-. umns, supporinig a low, sloping roof m ay form an interesting background for garden planting. Trellises placed at every other column mav be used to, support vines, and the passage- way may become a icool retreat from summer. sun. If the passageway is en- larged at one point, to make a space' for a tea table and,.a few chairs, it wiil also add tcsthe summ~er use. If it is nece ssary to enclose one wall -for protection, two or t hree. feet added to.,the width can be Con-, verted into, storage cases for garden tools, bose, etc. If there are chil- dren in 'the farnily, one- section may be reserved for the toys they play with out. of doors. This bas the fur- ther advantage .of making the rear' garden more private and is partîcu- larly useful. if the residence is bo- cated on a- corner. ,The modernization credit plan of the Federal Housing Administration offers a method of financing through private capital sucb permanent im- provements as this. Stores in 1935 Lauinch $144,000,000 Modernizing9 M4ore than 25,000. department,dr gooids, and specialty stores will spend aPproximately $144,000,,000 for modern- ization purposes in 1935, according to an estimate based on a survey recently èompleted by the National Retail Dry RAYMoND F. HouLIHAN, A rcloitect A rchitects 'Cent ractors Ruilders CHAMBER OF.COMMERCE BUILDING, 518-526 DAVIS ST., EVANSTON Univ.rsit 3840 Highland Park 4$7 "'R sidemc e 1s. l.N.rsîb SAf.,.' Cgut.. StmildJackson Rd ToI. W.tbaash fi f=