HOUSING: Loan Refused

Wishing to add two guest rooms to his house in Framingham, Mass., Son-Secretary James Roosevelt, went to a bank to borrow $2,500. The bank sent his application to the Federal Housing Administration in a routine way. Son James, knowing the Housing Act, offered to bet 50ยข that FHA would turn it down because the rooms were to be separated from his garage by about 24 inches, therefore not technically part of the building. FHA turned down the application. So the astonished bank lent Son James $2,500 on his face.

Said alert Washington Newshawk Pau!...

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