Cedar Hill Chronicle (Cedar Hill, Tex.), Vol. 2, No. 7, Ed. 1 Thursday, June 30, 1966 Page: 10 of 16
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Savings and Loan Associations continued
• — • muinrin fjui inf IT TlfSt egg
into this house in llroomall,
near /'hiladelphia. their first. (Then they
muted four years later, the Mitchells
Here ahle to sell it at a profit of $1,500-
u hich they used as part of a down
payment on their new home.
Promotion for Paul sent the Mitchells
to Dallas. There a savings and loan
association helped the Mitchells
finance this house —their second.
They were building more equity with
their monthly mortgage payments.
Last stop for the Mitchells before their move
to Chicago u as this pleasant suburban
home in Prairie l illage. near Kansas City.
"IThat we have done each time is to buy
a better house," says Paul, “with the equity
which u e have accumulated
The Mitchells have “moved up” three times.
Onee an Eighth Air Force bomber pilot,
Paul Mitchell, pictured with son David,
has been transferred three times by his
employer. His savings, combined with those
of his wife, have helped him buy better
homes each time they hat e moved.
The Mitchells. Paul and Bette, had a romantic
marriage in wartime England when Paul was an
Eighth Air Force bomber pilot. Even then the
Mitchells began to salt away some of Paul's mili-
tary pay. After the war they made ends meet by
their own hard work as did most other members
of their “fortunate generation.” Bette got a joh as
a secretary while Paul won his degree in chemical
engineering at Rensselaer Polytechnic Institute.
At last, in June 1951, came the sunny day they had
saved for so long: they had accumulated enough
of a nest egg for the down payment on their first
home. It was a $13,500 house and garden behind
a plank fence in Broomall. near Philadelphia, and
the Mitchells could hardly wait to move in. Their
financing came from a savings and loan associa-
tion located, by coincidence, only a few miles from
the site of the nation's very first savings and loan
association in Frankford. Pennsylvania.
The first house in Broomall turned out to be
the start of a happier life for the Mitchells. Paul
had a position as a chemical engineer for the
DuPont Co. and. four years later, he was promoted
and sent to Dallas. Bette succeeded in selling their
first home at a welcome $1,500 profit. The Mitch-
ells were able with the help of a Dallas savings and
loan association to move into a bigger and better
home. The next stop for these mobile Americans
came in May 19o8 when thev moved to Prairie
Village, a pleasant suburb of Kansas Citv. Paul
was moving up in income. Paul was also building
up more and more equity through his regular
monthly payments on their mortgage. Again a sav-
ings and loan association helped the Mitchells get
started in their new location.
Three years ago the DuPont Co. made Paul
Mitchell a supervisor of product development at
their fabrics and finishes division in Chicago. This
time. Paul and Bette agreed to build their own
A Chicago savings and loan association was
ready to help the Mitchells finance their dream
Today this home stands proudly on a ridge in
the Brigadoon section of Cary, 111., not far from
Paul s job in Chicago, and the view out across the
low. rolling hills is magnificent. The house is con-
temporary in design. It is constructed of redwood
and brick. There is a sloping lawn where the
Mitchells’ three children play: Douglas. 9, David,
6. and Eva. along with their part-collie dog Fluffy.
Paul is a do-it-yourselfer of considerable tal-
ent and experience. He has already completed a
recreation room at one end of their English-st\le
basement and he is considering building a fourth
bedroom at the other end. Outside. Paul and Bette
together built a pla\ area for the children and a
rock garden for which thev hauled in the native
stones themselves. Bette painted some oils that the
family considered good enough to hang, and so it
“V^e do a little bit at a time.” says Paul Mit-
chell. “as we can afford it.” And it is the little-bit-
at-a-time philosophy that is bringing to him. his
wife and his children their share of the good
things in life. In the Mitchells’ experience their
own savings have made the difference. Paul ex-
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Brown, Royce & Mobley, Mrs. Howard. Cedar Hill Chronicle (Cedar Hill, Tex.), Vol. 2, No. 7, Ed. 1 Thursday, June 30, 1966, newspaper, June 30, 1966; Cedar Hill, Texas. (https://texashistory.unt.edu/ark:/67531/metapth523037/m1/10/: accessed September 27, 2020), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Zula B. Wylie Memorial Library.