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Veterans Loan Fund Liquidating Real Estate Holdings
Raleigh November 16 The State Veterans Loan Fund Board is winding down its real estate investment portfolio after foreclosures and reinvesting proceeds into liquid assets including war bonds and state bonds. Since 1941 the fund has reduced owned realty from 357 to under 75 properties, with cash investment dropping from 754543.14 to under 250000 today, and a net profit on some sales offset by losses on others. The loan fund, created in 1923 to aid WWI veterans, now operates under an ex officio board and Grace Hinton as commissioner, reporting an overall outlook of potential further losses and uncertain final liquidation outcomes.
MENTIONED IN THIS ARTICLE
Lynn Nisbet
Enterprise Bureau
Sir Waller
Raleigh
General Assembly
State Veterans’ Loan Fund Board
North Carolina
Veterans’ Loan Fund
Council of State
The
American Legion
BOAD
Secretary of State
Agriculture
Labor
Graham K. Hobbs
Col. Hobbs
Grace Hinton
Hinton