INDUSTRY: Homebuilding Hooverized

Last summer Senator Simeon Davison Fess of Ohio, chairman of the Republican National Committee, decided that the time was ripe for him to build a new home at Yellow Springs. He had savings tucked away in three building & loan associations which would serve as a starter. He went to a banker friend and asked him for a $6,000 mortgage loan. Throwing up his hands in horror the banker declared: "Oh, Senator, we can't make any more loans at present. While we're sound, we must remain in a liquid condition." Senator Fess, disappointed,...

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