Frank A. Chase to Direct Field Service lor Federal Home

Loan BanJ< Board

Washington, July 5.-The appointment of Mr. Frank A. Chase of Miami, Florida, to the important post of Director of Field Service for the Federal Home Loan Bank Board rvill be of immediate interest to his many friends and former co-workers in the lumber industry. Mr. Chase will direct the organization in the field of Federal Savings and Loan Associations which will be set up under the Home Otvners Loan Corporation, as provided for in the Home Owners' Loan Act, recently passed by Congress.

These associations are local mutual thrift institutions established to provide financing of homes. Not only will new institutions be set up in communities not now adequately served by existing organizations but present institutions will be reorganized to come under the provisions of the Act.

Mr. Chase has had long experience in building and loan association work. Sometime between 1895 and 1900 he became a director of the Provident Building and Loan Association, Spokane, Wash., and a few years later, SecretaryManager of the Spokane Building and Loan Society. In 1913, as presidgnt of the Washington State League of Savings and Loan Associations, he secured enactment of an up-to-date building and loan law. From 1915 to 1919, as a member of the State Senate of Washington, Mr. Chase handled complete revision of State banking laws.

During l92l and 7922, Mr. Chase was in charge of community development work as head of the Building and Loan Department of the Southwestern Lumbermen's Association in Missouri, Kansas, Oklahoma and Arkansas, in cooperation with supervising offi,cials and Building and Loan leagues of those states. Scores of Local mutual associations were organized. Demand for extension of this service led to the organization of the American Savings, Building and Loan Institute in September, 1922, of. which Mr. Chase was Educational Director and later as collaborator with Dr. Horace F. Clark, co-author of its basic text book, which is the standard Building and Loan textbook. This work was financed mainly by the National Lumber Manufacturers Association, Southern Pine Association and the Southwestern Lumbermen's Association.

During 1922-26, Mr. Chase was engaged in intensive field work and advisory service to building and loan associations in many states, as representative of the Institute. Since 1926 he has reorganized a large building and loan company in Miami, Florida, which has suffered tremendous uninsured hurri'cane losses, and in the spring of 1930, he conducted a National Home Finance Survey for the National Lumber Manufacturers Association with the cooperation of other .national trade organizations.

Mr. Chase's first connection with the Federal Home Loan Bank system was as Dire,ctor of the Federal Home Loan Bank at Winston-Salem, N. C., to which office he was appointed in October, 1932 and reappointed in January, 1933.

REDWOOD i1,lf",i?"i-fl1

Redwood possesses characteristics unsurpassed by any other material for the construction of Mining Tanks, $(/ater Tanks, Oil Tanks, Beer and Vine Tanls. Because of its durabiliry and fire retardance it will outlast any other tank. The low cost price of Redwood tanks, the ease of erection and transpcrtation makes them an all around economical tank and because Redwood has no taste or odor, it makes the most practical container for any liquid from milk to oil,