Lumsen InsprcnoN SrnvlcE C U R lYtS I U ll B

Growing Low-Cost Home Msrket Seen By GIT Finqnciql

Studies by a subsidiary of C.I.T. Financial Corporation point to a "rapidly growing market for low-cost homes that can be purchased in various stages ranging from the'shell' to a completed house," Alan G. Rude, president of Universal C.I.T. Credit Corporation, the subsidiary, said today.

"The basis for expansion of this market will be the availability of convenient installment financing plans that can be readily arranged by the local dealer or contractor," he said. "Mass financing will put these attractive and economically- priced houses within reach of increasing numbers of families who could not otherwise afford to buy their own homes."

The indicated potential of this market has been evidenced by the recent agreement between C.I.T. and Certain-Teed Products Corporation, a leading producer of building materials, for financing low-cost dwellings, Rude observed.

Under the agreement, LJniversal C.I.T. has agreed to make available an initial $100 million for retail financing of homes designed by the Institute of Essential Housing, Inc., which was organized by Certain-Teed to merchandisl a complete line of homes on a national scale. The Institute is building a nationwide organization of local representatives, principally established lumber dealers and contractors.

Credit investigations and approvals for individual transactions will be handled by Universal C.I.T. through its nationwide network of offices, Rude explained. The receivables will carry maturities ranging from 5 to 10 years.

IEH homes are available in a wide range of models. They can be purchased in various stages of completion

Burma TEAK/

The "Cqdillac" ol Hordwoods

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As an officially appointed representative of the Burma State Timber Board, we can supply you with Burma's finest Teak, in every form-from Rough Logs or Lumber to Veneers, machined solid Wall Paneling, Boat Decking and Flooring which is packaged and ready for installation.

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ranging from the basic outer complete himself, to a home will serve as the downpayment.

"shell," which the buyer can contractor. FrequentlY, the lot completely finished by the owned by the home buyer

IJniversal C.I.T. has been active in the low-cost shell homes field for several years and "has generated a significant volume of business in this atea," Rude said. "Credit experience has been highly satisfactory. Customers like the convenience of financing their homes with monthly payments that may be less than their former rental obligations."

Dubs, Ltd., Firsl lntiroriottol o gig Success

Dubs, Ltd., staged itsfirst Invitational Tourney o1 March 17, at the Peninsula Country Club with Chet Dennis hosting tire excellent afiair. A banner turnout of some 75 membdrs and guests attempted the course, -and since the best ball winner two-some was to be awarded snappy green jackets (ala famous "Masters" tournament). everyone present made a real effort.

The prized jackets were won by Ralph Bowman and his guest, Joe Malmor, but the jackets are to be custom tailored to fit the winners, so the Dubs membership will have to wait until the next tournament (Silvarado Golf & Country Club, Napa, on April 2l), to see the "green. hornets" in action.

Chet Dennis, his usual straight-shooting affable self, copped the low gross award with a 76.

Another annually awarded trophy changed hands, at the dinner awards ceremony Wendell Paquette reluctantly passing forth a handsome trophy to Ed French in recognition of the five worst net score turned in during the past year (s'matter of fact, that makes two years running for Ed. Lessons anyone?).

Spurred on by the success of the club's first Invitational, Du6s officers and members plan to make this an annual occasion, according to prexy George Monnier.