MCHTGA7N D A*I*LY U. S. May Back Minnesota Students - Claim They Study Private Home - . , Repair Loans Roosevelt Urges Action Bill I orlIraneC Goveranmnt On By WASHINGTON, May 14. - UP) - Government insurance of private fi- nancing for home construction and repair was proposed today by Presi- dent Roosevelt in a message to Con- gress. The Presidenf urged action at this session on the two-fold program which he said would add to employment and provide "tangible, useful wealth in a form for which there is great social and economic need." Loans for modernization would be made by private agencies which would be insured by governmental agencies against loss up to a certain percentage of their advances. Mutual mortgage insurance under governmental direction to enable pri- vate agencies to make first mortgage loans on newly constructed houses up to 80 per cent of the appraised value of the property would be provided. New mortgages would be allowed on existing homes up to 60 per cent of the appraised value of the property. The loans would usually carry not more than 5 per cent interest. The President proposed further Federal insurance for share and cer- tificatiholders in building and loan associations, similar to the insurance provided for bank depositors. Also Mr. Roosevelt would provide incorporation of mortgage associa- tions under strict Federal supervision to increase the amount of mortgage funds available in regions where in- terest rates are unduly high. Six To Participate In Speech Finals The finals of the Interclass Extem- poraneous Speech Contest for Speech 31 will be held at 4 p.m. tomorrow in Room 1025 Angell Hall. Students who will participate are Bertram H. Lefeis. '36, J. J. Joseph, '36, Frank B. Fehsen- feld, '36, Edward T. Downs, '35, John A. Perkins, '36, and Robert J. Saint Clair, '36. These students were selected by their classmates to represent the six sections of'Speech 31. All students of Speech 31 will attend the contest and will cast ballots which will deter- mine the best speaker.. Each student in the contest will be given a specific. angle of the general topic, "Control of Radio Broadcast- n ,"(at 3 p.m., one hour before the contest. UOESN'T ALWAYS WORK HOLLYWOOD, May 11.-(A)._- D,