Page images
PDF
EPUB

Mr. WiggLESWORTH. I think you might give us the two or three tables you gave us last year.

Mr. FERGUSON. Yes; I remember those.
Mr. WIGGLESWORTH. They are set out on pages 707, 708, and 709.
Mr. FERGUSON. Yes;.we will provide those.

STATEMENT OF DEBENTURES ISSUED AND OUTSTANDING, UNDER

TITLE II, NOVEMBER 30, 1942 Mr. WiGGLESWORTH. Showing the ratio of loan to value; the statement of debentures issued and outstanding, and the rental projects with premium paying loans.

Mr. FERGUSON. Yes.

Mr. WiggleSWORTH. Do not reprint any of them, but bring them up to date.

Mr. FERGUSON. Yes.
(The tables requested follow:)

Title II.-Statement of debentures issued and outstanding Nov. 30, 1942

[blocks in formation]

9, 413, 266. 63 9, 201, 687.10

Total liability for debentures. Retired (as above).

Grand total issued, authorized, and in audit to date (including cash ad

justinents)..

[blocks in formation]

1 Including debentures in the amount of $12,550 called for redemption on which interest ceased on July 1, 1942.

SECTION 207

[blocks in formation]

I gives - Rental projects with premium paying loans closed during the calendar year 1942

[blocks in formation]

Mr. WIGGLESWORTH. Will you also put in the record a statement showing your nonadministrative expenditures?

Mr. FERGUSON. Yes; we have that.
(The statement requested follows:)

Title I Insurance Federal Housing Administration revolving fund

[blocks in formation]
[blocks in formation]

Mutual mortgage insurance fund, Federal Housing Administration, revolving fund

[blocks in formation]
[blocks in formation]

Total expenditures.
Receipts

Fees
Premiums
Income on investments
Rental and other income, acquired properties.
Cash received on sale of acquired properties.
Collections on mortgage notes.
Collections for taxes and hazard insurance (escrow funds).

Total receipts.
Transfer to "administrative expenses, Federal Housing Ad-

ministration"
Adjustment transfer from "Administrative expenses, Federal
Housing Administration,” prior fiscal years.

Net total receipts. 1941 funds available in 1942 1942 funds available in 1943 1943 funds available in 1944. 1944 sunds available in 1945.

Total estimate or appropriation...

1, 140,000 1, 140,000
17, 476, 500 16, 913,000
1, 625.000 1, 183, 800

660,000 555, 800
819, 000

873, 600
862, 500 725, 700

587, 000 474, 700 -23, 170,000 -21, 866, 600 +4, 431, 592 +4, 387, 942

-2,000,000 -18, 738, 408 -19, 478, 658

-24, 908, 616

+10, 626, 548

-921, 323

- 15, 203, 391 +6,763, 442 -6,071, 012

[blocks in formation]
[blocks in formation]
[blocks in formation]

Expenditures:

Investments.
Purchase of stock in rental housing corporations
Management, repair, and sale of acquired projects
Interest on debentures.
Cash adjustments
Taxes and hazard insurance (escrow funds).

Total expenditures.
Receipts:

Fees
Premiums.
Income on investments.
Rental and other income
Cash received on sale of acquired projects.

Cash collections on mortgage notes
Collections for taxes, hazard insurance and earned money

(escrow funds).

Total receipts.
Transfer to "Administrative expenses, Federal Housing Ad-

ministration".
Adjustment transfer from “Administrative expenses, Federal
Housing Administration," prior fiscal years.

Net total receipts. 1941 funds available in 1942. 1942 funds available in 1943. 1943 funds available in 1914. 1944 funds available in 1945.

Total estimate or appropriation..

524, 250

56, 750 620,000

62, 500 1, 796, 390

7, 364 569,613

27, 562 844, 265

59, 701 292, 944

68, 600

263, 700

[blocks in formation]
[blocks in formation]

War housing insurance fund, Federal Housing Administration revolving fund

Obligations

By objects

Estimate,

1944

Estimate,

1943

Actual, 1942

[blocks in formation]

Expenditures:

Management, repair, and sale of acquired properties..
Interest on debentures.
Redemption of debentures
Payment of certificates of claim and refunds to mortgagors.
Taxes and hazard insurance (escrow funds).

Total expenditures..
Receipts:

Fees
Premiums.
Income on investments.
Sale of investments
Rental and other income, acquired properties
Income from sale of acquired properties.
Collections for taxes and hazard insurance (escrow funds).
Collection on mortgage notes...

Total records.
Transfer to "Administrative expenses. Federal Housing Ad.

ministration".
Adjustment transfer to "Administrative expenses, Federal
Housing Administration” for prior fiscal years.

Net total receipts. 1941 funds available in 1942. 1942 funds available in 1943. 1943 funds available in 1944. 1944 funds available in 1945.

Total estimate or appropriation.....

22, 000
79,000

6,000
14,000

2, 376,000
3, 267,000

55,000
4,000,000

6, 400 57, 700 3,000 4,000

[blocks in formation]

PUBLIC RELATIONS AND EDUCATIONAL DIVISIONS

Mr. WIGGLESWORTH. There is a limitation in the appropriation language covering Public Relations and the Educational Divisions, $84,580. That is only applicable to the District of Columbia?

Mr. FERGUSON. Yes. That was $90,000 for the current fiscal year.

Mr. WIGGLESWORTH. You have got here in your Budget breakdown as follows: Public Relations Division, $46,450; the Educational Division, $38,130; the Field Public Relations Division, $37,600.

Those added together make $122,186 for that work. We have discussed that a good many times when you have been up here. Can't you cut that down materially now with the conditions that confront us?

Mr. FERGUSON. Mr. Wigglesworth, I do not know how I can answer that because that work, except for the portion that applies to the Division of Education, is being taken over by Mr. Blandford's office.

Mr. WIGGLESWORTH. Then it ought to be eliminated in this breakdown.

Mr. FERGUSON. Yes; but this work was only taken over by the National Housing Agency since these estimates were prepared.

Mr. WIGGLESWORTH. I see.
Mr. FERGUSON. The National Housing Agency is putting it through

now.

Mr. WIGGLESWORTH. Then the amount, the total amount ought to be reduced accordingly?

Mr. FERGUSON. I do not see how they can do it any cheaper than we can.

Mr. WIGGLESWORTH. The total amount is to be transferred, I understand, to the Administrator's office.

Mr. FERGUSON. It is added to theirs.
Mr. WigglESWORTH. And ought to be deducted here?
Mr. FERGUSON. Yes.
Mr. MOORE. That is taken care of in the consolidation.
Mr. FERGUSON. With the transfer.

Mr. MOORE. We would expect that to be taken care of by the Budget Bureau.

Mr. WIGGLESWORTH. Does that apply to the Personnel Division, $123,455?

Mr. FERGUSON. Oh, no.

Mr. DIRKSEN. I am wondering about the necessity of the Public Relations Service, first because of the restriction on material; the bulk of the construction now is in the war area, is it not?

Mr. FERGUSON. Oh, yes; but that condition is not permanent.

You see, so far as the loans are concerned, dealing with the war agencies is one thing, but so far as the F. H. A. is concerned it is dealing entirely through private lenders, private builders, private buyers, private material dealers, and it is not like a Government agency that may have something to give away; we have to create an interest in what we are doing; we have to contact the lenders, the builders, and consult with them and explain what we are doing to them as well as to the buying public.

« PreviousContinue »