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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Feb 27, 1938
Page
17
The article warns that peeling or discolored paint accelerates structural exposure to the elements and increases future costs. It stresses proper surface preparation, moisture control, and using sound materials, noting that moisture and old paint undermine new coatings. It also mentions repainting under the FHA Modernization Credit Plan.
Washington announces changes under the National Housing amendments. The maximum annual FHA mortgage insurance rate drops to five and one half percent, with one per cent saving on the service charge. New construction loans under six thousand dollars see down payments cut from twenty to ten percent, enabling up to ninety percent loan-to-value on six thousand dollar homes.
The clause states that items appraised at ten thousand dollars or less have an insurable limit equal to ninety percent of the appraised value up to the stated maximum.
The policy states a down payment of 6 000 plus eighty percent of any appraised value above 6 000. A new 10 000 house would require a 1 400 down payment and an insurable mortgage limit of 8 600. For one to four family homes the limit stays at eighty percent of appraisal but never exceeds 16 000.
E S Ward and wife owners of the padlocked White Elephant roadhouse on the High Point highway appeal a superior court judgment ordering the building's equipment sold at public auction. The jury found operator Joe Libby conducted a nuisance without the owners knowledge, while the Wards claim some inside property belongs to them.
Police list arrests for traffic violations within 24 hours including four speeding, one red light, three ordinance violations, and one drunk driving case. L. V. Tesh of Winston-Salem charged with driving intoxicated. Pedestrians with a favorable light have right of way over turning vehicles.
In Pittsburgh a note from Rene Mortelese’s barber shop cards sparks talk among newspaper men. The cards mention tensorial services and include a foot line reading Chirophodist in attendance, prompting curiosity about the term and the barber’s stance on reporters and assignments.
Denver. Municipal Judge Philip Gilliam dismissed a man charged with leaving an accident after his car struck a horse. He ruled the traffic code applies only to motor vehicles, not animals involved in the incident.
Bishop Paul B. Kern is scheduled to dedicate the Old Union church in Randleman on March 27 with services at 11 a.m. and 2:30 p.m. His address will follow the second service and a dinner will be served on the grounds between the two hours.
Washington The Federal Housing Administration announced plans and regulations to implement the National Housing Act amendments of 1938. Changes include reduced mortgage insurance premiums for loans up to 5400 and revised premium calculations, plus elimination of the annual service charge on insured loans, aiding modernization and new construction nationwide.
The Modernization Credit Plan of the Federal Housing Administration enables roofs to be rebuilt or repaired. Rafters must be tied to prevent spreading, using ceiling joists or metal straps, with tie beams near the bottom. Roof coverings may include slate, tile, wood shingles, asbestos, or asphalt, with emphasis on quality and proper detailing.
In California near Quincy a search party found Mrs. Harry Ferris, 40, dead under a tree with her dog guarding the body. Her prospector husband, 45, is missing after venturing into the mountains for food. A note dated February 16 from the cabin promises prayer and endurance as rescuers push on. The leader believes Mrs. Ferris fell 50 feet in a snow slide and dragged to the tree.
Chandler Minn. cashier J G McGishen faced two gunmen who brandished pistols at the State Bank. He warned them the money was insured and federal agents would pursue them. The men paused then fled.
Douglas Aircraft Co will send about 3,000 employees on an inaugural flight. Most workers have never flown, but two transports will carry loads of thrill seekers from Los Angeles.
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