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Don Realty company had been foreclosed. The Hartford National bank and Trust company was named temporary receiver.
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Don Realty company had been foreclosed. The Hartford National bank and Trust company was named temporary receiver.
Federal System Benefits Cited Rediscounting Privileges for Mortgages Extended 25 Per Cent of Those in Conn. Enter Eleven of the building and loaning associations of Connecticut, 25 per cent of the total number representing more than 50 per cent of the total assets of all the building loan associations in the state have already bought stock in the Federal Home Loan Bank and been accepted as members. An enabling act passed by the General Assembly and signed by Governor Cross about two weeks ago now permits Connecticut building and loan associations, savings banks or savings departments any state bank and trust company to become members the purchase of stock in the Federal Home Loan Bank, which was de signed to extend to banks and building and loan associations rediscounting privileges for mortgages. Walker Cites Benefits. Herbert Walker. president of the Hartford Building and Loan Association and president of the Connecticut State League of building and Loan Associations who was active in supporting the passage of the enabling act, said last week that there will now be more money available for loans on approved home mortgages. He pointed out, however, that the President's proclamation closing banks had also suspended operation of building and loan associations and that these associations, while they are permitted to accept payments on obligations, are not permitted to pay out money or negotiate any new mortgages at the present time. After the bank suspension is lifted. members will be in better position to take care of mortgages than before they joined the Federal Home Loan he said. In loaning out funds. he indicated that preference will be given to present members of the building and loan associations who need to refinance their present mortgages order to pay taxes or take care necessary repairs on their homes The Hartford Home Building and Loan Association, the only one in Hartford, was one of the first to join the Federal Home Loan Bank This association is in strong position, Mr. Walker added.