The Washington times., 1919-05-17
LOANS ON BUILDING
EASY, SAYS EDISON

That building associations are lend.
| ing a larger percentage of money OIL
new buildings than before the wa
and that this percentage depends en-.
tirely upon the conditions in each
individual case, was the statement
today of John Joy Edison, president
of the Cooperative Building Assoc!a-
tion.
Mr.. Edison takes the stand that *
is impossible to create a fixed hor,-
Zontal scale for loans on new con
struction projects, as the location OF
the building and the personality AMI
character of the borrower, whether
the building is for a home or business
purposes, are carefully take:, in-o
consideration.
Thinks Costs Will Drop.
Mr.. Edison believes the present high
costs of building are likely to drop,
but that they will never be as low
as in pTe-war times.
In loaning other peoples money"
he said, I'VE must exercise as accu-
rate Judgment as possible. so as to
insure the security Offered being of
such value that will insure the re-
turn of the loan. The same kind OF
a building built in one section of the
CITY may not re WORTH dIleT DullQ-
ing, what it would be in another sec
ton, on account OF the error in judg-
ment of the owner IN seGecting the
site.
while building costs will never
go back to what they were before
the war. in my opinion building will
not always remain as expensive as
il is now.
Lending More Money,
81 also believe that all money lend
ing institutions are lending more
money on the same class of property.
under the same conditions, than they
did four years ago, but OF course
the percentage varies.
Il am heartily and actively in favor
OF anything that will encourage and
cause building 10 revive, because our
increased population makes ad-
ditionaI buildings necessary, and a
large proportion of our increased
population is bound to remain pei
manently. Moreover, it would fur
nish employment for our skilled
workmen and laborers."
Foreign exchange was reported at
a low level this morning, French
cables showing 500, with S.31 for
Tires and SIS on checks. The pres
sure of bills and no buying support
of Importance is given as the cause.
Announcement was made by Rear
Admiral T. ]. Cowie. Victory loan
officer for the Navy. that total sub
scriptions in that branch OF the SER
vice were $4,000. 900. more than
twice it's quota of $12.5OO.OOO.
Washington bankers will hold a
two-day convention at Buena Vista
Hotel, Maryland, June % and &c.
This announcement was made yes
terday by John B. Larner. chairman
of the committee on arrangements.
following a meeting yesterday after
noon. The convention will be open
to directors as well as officials OF
the banks.
Total deposits Of Washington
banks on May IL, the date OF the
recent call by the Comptroller Of
the Currency. were $16S, $50. S2T.59,
against $I6s sos, 13O.S5. on March 4,
the date OF the last call. gain of S22,-
696.74. according to figures compiled
and kept by Frank B. Deyereaux of
the National Savings and Trust Com
pany.
Trading in small lots was slightly
brisker on the Washington Stock EX-
change today.
Ten shares of Lanston went over
at 67ls, and thirty shares in five lots
at IS Five shares of Columbia Ora
common changed hands at
3O7 u. fifteen shares at 3O7, and $1,000
at 3O5.