Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-08
IMPROVED CREDIT
SEEN IN SURVEY
Definite Turn From flight"
Money Conditions Observed
Throughout Country.
Continued From First Page.l

Continued From FIRST Pagel
George S. Horton of Brooklyn, N. Y,
wires
1--WE have noticed an improvement in
real estate mortgage conditions as far as
individual mortgages for insurance
companies are concerned" Hiram S
Cody of Chicago, states. More COM
panies seem to be in the market today
than there were two months ago"
VERY recently some, of our large
banks and trust companies have &C.
cepted applications for mortgages and
there is an indication that more OF them
will do so in the near future" James @.
Simpson of Philadelphia, states Il am
looking forward to an improvement IN
the very near future, and expect 1t VIII
keen llp during the year $780,"
"'There is definite tendency toward
sterilization of real estate values. Our
information is that there are many
signs of improving conditions through
out Florida" Hollis Bush of Miami
wires.
New Construction Not Encouraged.
"There is disposition on the part OF
financial interests both local and for
eign to tighten up in the making of ap-
praisals and with regard to requirements
as to principal repayments before loan
maturities. New construction is not De-
ing encouraged except in cases where
the contractor or owner or both are
amply able to meet obligations" Edward
M. Ashton, Salt Lake City, said. real
estate credit situation in this territory
though by no means free is somewhat
easier than three months ago.
1.-THE real estate credit situation is i'm
proved and money is again being put
into real estate mortgages. People are
again ready to buy real estate and they
offer substantial payment on tnelr pun.
cfases However they expect TO pc aDle
to buy at low price, julius >. teyot
ir., st. Louis, reports.
1.-THE real estate credit situation ~
this community is easier now than II
was three months ago" reports Waiter
N. Gabriel, Oakland, Calf. Banks, LIE
insurance companies, building and loan
associations and mortgage concern;
have funds available for building flnanc-
ing at lower rates than last year."
w. H. BoSley, Toronto, Ontario, wires
tendency for rates to increase from
6l2 to per cent. Three months ago
leaning companies had disposed OF 1928
funds Now accepting applications tor
money available $780,"
Sectional differences in general credit
conditions are observable. The North
Central and Pacific Coast States report
the most generally satisfactory supply
of mortgage money. In the New Eng
land section, where is replies indicate a
somewhat easier situation, reported
approximately the same situation as
two or three months ago.
Better Credit Situation Seen.
In the East North Central section IA
replies gave reports of better credit
situation. In this section there were
8 reports that the situation was the
same and that credit was tighter. In
the South Atlantic section replies in
Dictated an improvement in the situa-
ton. Nine cities report situation the
same as for some months past. In the
East South Central section 3 of the re-
ports were of improvement and / report
Of conditions worse than three months
aeu.
In the West South Central section
replies were of definitely easier credit
situation and 4 of an unchanged con-
dit!on. In the mountain section 2 re-
plies were of an improved condition,
of condition not as easy as some time
ago. In the Pacific section 16 replies
were of reader investment funds. In
this section there were reports Of
a satisfactory condition and / of less
satisfactory condition.