Business & Finance: Mortgage Troubles

With insurance companies suspending farm foreclosures and Federal agencies promising further relief to the mortgage-ridden West, hardly anybody last week noticed a fix that mortgages had got a group of New York companies into—until they slipped out of it. In Manhattan Owen D. Young announced the formation of a Realty Stabilization Corp., with a capital of $10,000,000 and an R. F. C. credit of $100,000,000, to rehabilitate the city's real estate and make it selfsupporting. Immediate purpose of the corporation, however, is to tide guaranteed-mortgage companies through the embarrassing task of meeting—and...

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