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The Nome Daily
NUGGET
I
Pegues Tells Story
Of F.H.A. Alaska
To Public Nome
—
Continued From Page One
plicated procedure to obtain loans
} under this class.
I “Plans and specifications must be
made on a project; they must be
passed an by the two consulting ar
ohitecrts appointed by the Federal
Housing Administration for Alaska,
For Nome—Art Brown and J. Wig
gens. The applicant must own at
least twenty percent of the total
appraised value of the property fol
lowing the completion of the work.
Two appraisers are to be appointed
here and will probably be Albert
Chagnon and Thos. D. Jensen.
“Title II applies to construction
insurance up to $16,000, with the
restricting clause that in the build
ing the amount of floor space used
for commercial purposes cannot be
more than twenty-five percent of
the total floor space. It also pro
vides for the construction of build
ings as large as to accomodate up
to four families.
“A mortgage is taken on the
building by the bank issuing the
loan and the amortization of the
loan is made over a period of twen
ty years. The interest rate amounts
to five percent with additional char
ges by the bank for handling the
business.”
I In regard to these two Tiitles, lit
tle more than a bare outline is print
ed here at this time, as in prior is
sues numerous details pertaining to
them have been published.
The subject of the local bank was
discussed by Mr. Pegues, who ex
plained that he had discussed the
matter of signing up wiith the act,
with President G. R. Jackson when
he went through Juneau enroute to
Seattle some time ago, and that he
had been assured Mr. Jackson would
arrange for the bank to cooperate
in every way. In discussing the pos
- aibiliity that the bank did not care
to finance the projects under the
FHA due to business reasons, Mr.
Pegues assured the public that the
funds for such development and im
proving of property could be obtain
ed elsewhere.
Of great importance to the busi
ness men of Nome who were burn
ed out in the fire last fall, was the
statement by the Director that an
amendment to Title I had been pass
ed in Washington and was now in
conferences, providing that loans
could be made for the construction
of commercial aind business houses
up to $50,000, and the Federal Hous
ing Administration would insure the
loans. He stated he expected to re
ceive authority to proceed at almost
any time now.
In getting to the heart of the sub
ject Mr. Peg.lea explained that the
government does r.ot ban the m~n
ey; they are r.ot in the banking
business. The locos are obta'-cd
from the banks and the government
insures or guarantees payment on
them. In many ca-ses the public has
believed that the money could be
obtained from the government on
five percent interest, but that is not
the case. Under the Federal Hous
ing Act the government has gone
into the insurance business of guar
anteeing loans made by banks for
the purpose of construction, re-mnd
eling and improvement of hom»s,
business houses and real estate.
Following the conclusion of his re
marks on the FHA, Director Pe
gues requested any and all who had
questions to ask, to present them and
he would attempt to answer them
to their satisfaction. Numerous ques
tions were asked and answers giv
en until the meeting ended.
Mr. Pegus is temporarily located
in the Alaska Road Commission
budding in the offices of Lyman S
Brewster where he is seeing individ
uals on their housing problems in
connection with the Federal Hous
ing Administration activities.
He wiill be at his desk there from
9:30 a.m. until 4:30 p.m. each day
until Friday morning at least, when
he intends to return by plane to
Fairbanks and thence to his office
in Juneau.
FOUND—A new rubber boot, own
er may obtain same by identifying
and paying for this advertisement.
Inquire at Nugget Office.
Fire Alarm Boxes
Box 13 . At Ottoson’s
Box 14 West of Lomen Com.
Box 23 Linton and 3rd,
at Brewsters
Box 25 Catholic Church
Box 31 1st and 1),
at Rynnings
Box 32 North D St.,
at Andersons
Box 33 Nohalico
Box 42 Hospital
One blast of Siren, lire East of
Fire Station; two blasts of siren,
fire West of Fire Station.
Arrived By Plane
The Mode of The Moment In
Women’s, Misses' and Child
rens Apparrel at Sensible
I* rices—Always—At
MILDRED’S
SHOPPE
H E REIMER
BUILDING CONTRACTOR
E ST., NOME, ALASKA
Cabinet Work A Specialty Estimates Gladly Furnished
LET ME DRAW YOIJR PLANS AND SPECIFICATIONS
Nome Laundry
Joe Amarok, Prop.
DRY CLEANING AND
PRESSING SUITS
PHONE MAIN 29
East of Catholic Church
Nome, Alaska.
CITY LAUNDRY
Harry Saito, Prop.
Opposite The Bank
Clothing Pressed And
Cleaned
Laundry Work At
Reasonable Prices
TUB BATHS DAILY
10 AJM. TO 10 PJH.
Any Silk Or Wool
Dresses $5.00
JACK
SEIDENVERC
Cavey’s Bakery
OPEN FROM 6 A.M. TO I A.M.
GOOD CUP OF COFFEE
BEST PASTRY IN NOME
Good Meals
PACIFIC ALASKA I
AIRWAYS INC
OPERATING
WEEKLY SCHEDULED SERVICE BETWEEN
NOME AND JUNEAU VIA FAIRBANKS
NOME TO FAIRBANKS $108.00
FAIRBANKS TO JUNEAU $105.00
Planes Leave Airport Friday Morning") Con
tacting Lockheed “Electra" Southbound
From Fairbanks
RADIO EQUIPPED PLANES
ARCTIC BEER PARLOR
AND CARD ROOM
Between Pioneer Drug Store And Dream Theatre
Jack Solomon, Prop.
NOME MACHINE SHOP
VV. 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 ot Town Work
Telephone Black 110
TITLE 2
Federal Hotisiim Administration
INSISTS ON APPROVED PLANS AND
SPECIFICATIONS
Materials Are Listed, Labor Quantities Computed
And Orders Placed
ECONOMICALLY
FROM PLANS ANI) SPECIFICATIONS
DO IT NOW—THE TIME IS GETTING SHORT
SEE
ART BROWN
BUILDER — CONTRACTOR — DESIGNER
SeifTert Flats
NOME LIQUOR STORE
THE ONLY EXCLUSIVE LIQUOR STORE IN NOME
BEST QUALITY, VARIETY, AND QUANTITY
RANIER BEER 15 CENTS BOTTLE
LARGE STOCK OF CIGARS AND TOBACCO
(Next Door To Fire Station)
ALASKA STEAMSHIP
COMPANY
1933 BERING SEA SCHEDULE
SAILING FROM SEATTLE
S. S. DELLWOOD .May 25th
S. S. DERBLAY May 29th
S. S. VICTORIA June 1st
S. S. DELLWOOD .July 3rd
S. S. DERBLAY Aug. 14th
S. S. DELLWOOD SEPT. 11th
S. S. VICTORIA .Oct. 9th
The Victoria and Dellwood on their voyages will
call at Nome, St. Michael, Golovin and Bonanza.
The Derblay will call on her voyages at Nome, St.
Michael, Golovin, Bonanza, Unalakleet, Teller,
Cape Prince of Wales, Shishmaref. Deering, Kee
walik, Kotzebue, St. Lawrence Island, and other
ports where business warrants.
Round Trip Passenger Fare Nome-Seattle and Return
Season 1935 — $125.00