Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-05
LAND BANK LOANS
TOTAL $1,311,B5,524
Gross Mortgage Borrowing
March 81 Shown in Con-
dition Statement.
BY EDWARD C. STONE.

BY EDWARD u SWINE.
The Federal Land banks had $l.sll,-
7s5.524 of gross mortgage loans on
March 81, according to condition state
ment as of that date, made pubic by
the Federal Farm Loan Board. Pay
ments on principal amounted to $ll5,-
634, 1893.
value of real estate owned outright
WAS Sl7634593 Foreclosures and mort
cages amounted to s6,544,005. Holdings
OF unmatured farm loan bonds totaled
Sl,l86,879,840, and capital STOCK was
SOS ,834,2l6.
Gross mortgage loans of all the Joint
stock land banks amounted to 500,
724,O9l, and payments on the principal
of these, $48, 073,4 ALB. Real estate owned
outright was Sl5,234,l30. Sheritfs' Ger
tiicates and foreclosures were So
Total bonds authorized were $572,-
26s, 900, total on hand. S9,030 600, ana
total outstanding, $56S,2352o0, for
Joint stock banks.
Federal land banks reported total Of
Sl,1S6,890 bonds authorized, $2,203, 800
ON hand and 81 ,184, 686, $40 outstanding;
Total assets of three joint stock land
City, Cincinnati and milwaukee,,
amounted to $50. ,s91, against habil-
titles Of s68, AGO, 051. Assets, however. are
stated in terms of book value rather
than receivers valuations.
Loans of the Federal intermediate
Credit Banks on March 81 amounted
to s24,900.030 and discounts $50, 284 LOB.
Capital callable from United States
Treasury totaled $30,000,000. Total OF
assets and liabilities OF these banks was
Sl2l,157,264.
Among liabilities Of intermediate
credit banks were $52,605,00 of un-
natured intermediate credit bank de-
hentures, less $350,o00 held by banks
OF issue, and also $60,o00,000 Of capital.
Board Rooms Again Crowded.
The jam In the local brokerage house
board rooms today was almost equal 70
That of last November during the stock
panic. The market, however, was be-
having better. Following the break
during last week, margin calls went out
very fast all over the country.
Both brokers and bankers deeply re-
aret such a severe decline at this time,
when stocks had recovered q good deal
of their losses at the close OF last year
and business had been displaying signs
OF Improvement. Holders of stocks who
were expecting to get their money free
and be in a position to make new in
vestments, will. now have TO wait some
time before making any move. The
fact that some issues are lower than
they were in November and December
indicate how long some OF these delays
may be.
Conservative local bankers, who are,
Of course, familiar with the poor Irse
quarter statements, express the view
that short selling has been the leading
factor in driving many good stocks to
new lows in the past few days. These
bankers insist that there ought to be a
curb on short selling In Wall Street
and in the Chicago Grain Market Wild
breaks in either of these big markets
have too serious an effect on general
business, they say. to be allowed with
out restriction.
Banking Conditions Reviewed.
While business conditions in the nth
Federal Reserve district in the month
ended April o showed improvement over
the preceding four weeks, the March,
1929, level Of trade was not equaled, &C
cording to the monthly reveiw of credit,
issued by Federal Reserve Bank OF Rich
mond.
Debts to individual accounts, one of
the leading barometerS Of general busi-
ness activity, showed an increase OF
SIP, 900, or 9.6 per cent. This in
crease. however, was seasonal and was
due chiefly to income tax payments on
March is and quarterly settlements on
April /.
Deposits in reporting member banks
increased during the past month, both
demand and time deposits registering
gains. At the same time, the member
banks failed to increase their COM
mercial and agricultural loans as they
have usually done at this time of the
r.. - L.
to reduce their rediscounts at the Fed
sral Reserve Bank, contrary to the sea-
scnal trend.
Active Day on ID. C. Exchange.
The Washington Stock Market opened
the week with five 81 900 sales in City
& Suburban SIS at 63. The next bond
sale was in Washington Gas IS, series
A, which moved at 102. Capital Trac-
ton SIS sold at 947s.
In the stock division Capital Trac-
taon opened at rs and closed at 1914
On Q small turnover. Carpet Corpora
ton moved at IS, Potomac Electric
Power per cent preferred came out
ct 1l1h and Washington Railway &
Electric sold at 98ha. Lanston Mono
type opened with seven shares selling at
121 and closed with ten more COM
manding 124.
Three bank stocks figured in the days
trading. Ten shares Of Second Ma
tional came out at 201, and 20 shares
Of Bank Of Bethesda changed hands
at so, same as the sale noted on Sat
urday. National Savings & Trust ap-
peared on the board again today, two
shares selling ct SIS, S points under the
larger sale made on Saturday.
In the unlisted department Chaplin
Sacks per cent preferred sold at 1o6'
Other Financial Notes.
The executive council of the American
Bankers Association opened its Spring
meeting today at Old Point Comfort
Va, at the Chamberlin-V Hotel
Many important reports are to be pre-
sented during the session.
John B. Larner, president OF the
Washington Loan 81 Trust Co., is In
Princeton, N. j., today attending o
meeting of the trustees Of Princeton
Theological Seminary. He is q men,
Der Of the board.
Labor conditions appear to have i'm
proved during March and early April,
chiefly due to seasonal increase in con-
struction work, monthly review of Fed
eral Reserve Bank of Richmond says.
There was not enough improvement to
take care of all workers who were seek
ing jobs, the report says, but in nearly
all sections of the district a considerable
number of additional workmen were
provided for and the number of unem-
ployed materially lessened.
Unemployment figures are elusive
and hard to get, but from the facts
available it appear that employment
in the fifth district compares favorably
with employment In other sections OF
the country" the review said.
Chesapeake g. Ohio Railway has taken
over the properties of the Hooking VAL
ley Railway as of May l, and the lines
thus assumed will be DESIGNATED Is the