THE NOME DAILY NUGGET
GEO S MAYNARD, Editor
RUSSELL G MAYNARD. Manager
Published < '.cry evening except Sunday by The Nome
Publish.n; Company. Nome, Alaska.
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Del ivered ov carrier in Norm, Little Creek and Sunset
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Entered in the Post Office in Nome as 2nd Class Matter
MEMBER OF ASSOCIATED PRESS
Communication From Federal
Housing Administration
Juneau. March, — Stew
art McDonald, the Federal
Housing Administrator h-ts
just announced than an ag
reement has been reached
with the RFC Mortgage Co.
by which the latter will
furnish the facilities of a
mortgage discount bank
for the purpose of purchas
ing mortgages given for
new construction and insur
ed by the Federal Housing
Administration, it was an
nounced by John E Pegues
Territorial director of the
Fed Housing Adrn.
“It is the desire of the
Roosevelt Administration
that new residential con
traction be vitalized and
pushed to meet the needs
of the country, and at the
same time accomplished on
a sound financial basis,”
Administrator McDonald
said in making the announ
cement.
“The effect of this agree
ment is tantamount to the
establishment of a national
mortgage association or a
mortgage discount bank for
mor tgages on new home con
struction.
“Another effect of this
agreement reached with
Chairman Jesse Jones, of
the Reconstruction Finance
Corporation, will be to ac
celerate the rate of new
residential construction,
which hsd already acquir
ed considerable momen
tum during the last five
months of 1935. In fact,
December s'howed the big
gest rate of residential con
struction during that same
month since 1930. The in
fluence that the Federal
Housing Adm. has had up
on the new residential build
ing can be measured by the
fact that it is estimated 37
percent of the urban one
and two family residences
during the latter part of
1937 were constructed un
der the Fed. Housing Adm.
plan.
“There are some 10,000
lending institutions, con
stituting practically the en
tire banking resources of
the nation, qualified for op
eration through the FHA,
and this enormous reser
voir of capital becomes
readily available for resi
dential building purposes
now that discount facilities
are available through the
arrangement entered into
between the Reconstruc
tion Finance Corporation
and the FI1A.
“Now with the whole re
sources of the RFC Mort
gage Company behind the
LOCKHEED
VEGA
*-—
STINSON
RELIANT
Tin: FASTEST, MOST FREQUENT, MOST j
CONVENIENT SERVICE IS '
VIA
MIROW AIR SUKYICK
FAST, STURDY, LUXURIOUS PLANES
.. ■■ i
COMOX COAL
Economical By Comparison
Relative Cost of Obtainable Heat At
Present Prices
BTU’S Cost Per
Per.Lb. 1,000,000
BTU’S
COMOX 13,500 $00.92
LADYSMITH 13,000 00.9G
NANAIMO 12,500 01.00
UTAH KING 13,750 01.02
BUY COMOX COAL
NOME HARBOR LIGHTERAGE
COMPANY
FHA’s insured mortgages,
new capital will flow into
the mortgage field in in
creasing volume to meet the
anticipated upward trend in
new home construction.
“In view of the fact that
the average value of mort
gages insured by the Fed
eral Housing Administra
tion is about $4,000, it is
obvious that this will be a
boon to those in the low
income brackets who de
sire to buy homes for a
small down payment an-d
for monthly payments as
low as rent and in some
cases lower, under the long
er term single mortgage
plan of the Federal Hous
ing Administration.’’
The man who swiped a
volume of Gertrude Stein’s
“poems’” knows the art of
paying a delicate compli
ment.—Detroit Free Press.
The funny part of it is
that people still living 20
years from now will be call
ing these the good old days.
Borah is taking the
stump which may be an in
dication that somebody will
be taking it on the chin be
fore the Cleveland conven
tion.
Subscribe for the Nugget
BARBS
(Copyright, 1935)
Under the principle in
which Willie got 100 in
school, 20 on each subject,
that actress who lists 10
traits she wants in a hus
band. may get her wish.
Suggested Democratic
song: “Well, we’ve paid up
your debt, you Raskob,
you.’’
The realtor trying to sell
new Toledo, Ohio, all-glass
houses might be wise not
to use that phrase, “A
stone’s throw from ...”
A Fordham sociologist re
commends laughing for half
m hour after every meal.
N O M E
HOTEL
(Nome Motor Co. Building)
Single and Double Steam
heated Rooms with Bath
Reasonable Rates by Day,
Weeks or Month
Phone MAin 108
WINGS-CIGARRETTES
$1.00 PER CARTON
PIONEER DRUG STORE
FROM NOW ON BIG! BIG! BIG!
BARGAIN SALE IN OUR DRY
GOODS DEPT. COME AND SEE OUR
5 PRICES AND SATISFY YOURSELF
EMPORIUM BAZAAR
Open 8 A. M. — Close 9 P. M.
Opposite Telephone Office
NOME MACHINE SHOP
W. L. SLACK AND SON, PROPRIETORS
Our Aim—Satisfied Customers
BOILER, MARINE, TRACTOR, ACETLYNE AND
ELECTRIC WELDING
MATERIAL STOCKED : SHAFTING, STEEL. BRONZE,
BUSHING, BABBITT, ACCESSORIES.
Prompt Attention to Local and Out of Town Work
Telephone Black 110
ARCTIC BEER PARLOR
AND CARD ROOM
Between Pioneer Drug Store And Dream Theatre
Jack Solomon, Prop.
TRAVEL WITH
NOME AIRWAYS
Large, Comfortably Heated
Cabin Plane
H. J. NELSON F. H. WHALEY
But the other fellow may
not always be out-fumbled.
A Viennese professor
claims “process of growing
old can be reversed.” If it
is true, Americans may face
a dilemma: Townsend pen
sion or adolescence?
Republicans seemed a bit
shy about announcing their
candidacies. But then, judg
ing from the latest budget
figures, democrats were
shy, too.
Gene Talmadge of Ga.
seems to be getting Huey
Long’s ideas about running
states.
Subscribe For The Nugget
VOTE FOR
ANTHONY J. DIMOND
For Re-election On Democratic Ticket
FOR DELEGATE TO CONGRESS
Ilis W ork For The Territory Is The
Best Argument For His Re-eleetion
PRIMARY ELECTION, APRIL 28, 1936.
VOTE FOR
0. D. COCHRAN
For Territorial Senator
Democratic Ticket
PRIMARY ELECTION, APRIL 28, 1936.
VOTE FOR
TOLBERT P. SCOTT
For Representative
For Re-election on the Democratic Ticket
PRIMARY ELECTION, APRIL 28, 1936.
VOTE FOR
GEORGE F. LAIBLIN
Democratic Candidate
FOR REPRESENTATIVE
PRIMARY ELECTION, APRIL 28, 1936.
VOTE FOR
HOWARD LYNG
For Territorial Senator
Denioeratie Ticket
PRIMARY ELECTION, APRIL 28, 1936
VOTE FOR
W. LEONARD SMITH
Democratic Candidate
FOR REPRESENTATIVE
PRIMARY ELECTION, APRIL 28, 1936.
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