SOUTHWESTERIT

President Signs Housing Bill

President Truman signed the housing bill on July l. The new housing law allows the Federal National Mortgage Association, a subsidiary of the Reconstruction Finance Corp., to buy from original lenders mortages insured by the Veterans Administration. This applies to mortgages issued after April 30 on homes which meet standards laid down by the Federal Hoirsing Administration. Up to now, there has been no such Government ..secondary market" for VA-insured mortgages, although the RFC agency has had authority to purchase FHA mortgages. The new law increases by $580 million the funds available for FNMA for mortgage purchases.

Congress did not renew FHA's Title VI mortgage insurance program, which lapsed April 30. This program authprized FHA to insure mortgages on new homes or housing projects. The mortgages were limited to 90/o ol the value of one to four family units and to Wo of Dec. 31, 1947, cost equivalent in the case of larger units. The bill did not include any provisions for public housing.

Eugene \Tholesalers \(/in Golf Tournament

Eugene Wholesalers won their fifth team championship on the seventh annual Willamette Valley Lumbermen's Golf Association tournament, held at the Eugene Country Club, Eugene, Oregon, lane 25,

The sensational shooting of Jim Hoak of the Eugene Wholesalers was a big factor in their victory. He took medalist honors for the fourth time, with 32-25-47, beating Jack Brande of Lebanon by one stroke over the par-72 course. Hoak, former University of Iowa golf star, was supported by Forrest Lemley who scored 75, Joe Birkenhead, with 77, and. Jack Kerr, with 80, for a total of 299.

Portland Manufacturers' team was second with 307. Eugene Wholesalers second team scored 320; Eugene Manufacturers, 32\; Portland Wholesalers, 331 ; Cottage Grove followed with 337, Mid-Valley with 347, Willamette Valley Lumber with 393, and Tacoma with 340.

Ted Wood of Eugene, and Bud Wolf, shared lorv net honors with 65.

Ham Payne of Pasadena, Calif., was the longest driver among the low handicappers, and Chuck Hurley of Tacoma was closest to the pin for the same division. Grant Robertson .of Portland and J. F. Jacobsen of Eugene won the respective awards for the high handicap players. Stu Smith won prize for guessing his handicap.

A total of 110 golfers from every section of the Northwest, and some from distant points competed in the tour_ nament. Norm Cords and Cliarlie Gartin were visitors from San Francisco.

Increcses Wcrrehouse Space

So-Cal Building Material Co., recently expanded their 'ivarehouse and office space at 1228 Produce Street, Los Angeles, by taking on an additional 8,000 square feet.