Evening star., 1933-09-25
R. F. c. LOAN TOTAL
HITS $111,4@,529
Clerk of House Reports to
Congress Advances Made
During August.
Dy the Associated Press.

- VIC hcooC1htcu 1Icoo
The Reconstruction Finance Corpora
ton today reported to Congress that
during August it authorized advances
aggregating $111 .495,529
The report. made public by South
Trimble, clerk of the House, showed
$5l ,314,852 was authorized as loans to
banks, trust companies, railroads and
various financial institutions.
A total of $45,240,4 ,4s2 was turned
over to the Federal relief administra-
ton for loans to distressed States. That
brought the amount disbursed under
the new act to $l24,973,472 as of Au-
gust 81.
OF the loans to financial institutions,
$36.17s,287 went to banks and trust
companies. This included $17,381 800
to aid In the reorganization or Nquida-
ton Of banks closed or in process of
liquidation.
List Of Advances.
Other advances were listed as follows:
To building and loan associations,
$808 ,15l; insurance companies, $780,
600; mortgage loan companies, $3,776,-
400; to the Federal Land Bank at
Omaha, $2.000,000; to agricultural
credit corporations, $76.730; live stock
credit corporations, $400,0 900; regional
agricultural credit corporations, 50, 49,
282, and to the Chicago & Northwest
ern Railway Co., 1885,, 900.
Applications for loans filed BY finan-
cial institutions in August totaled 221
as follows: l48 from banks and trust
companies; each from buildings
and loan associations and insurance
companies; 20 from mortgage loan COM
panleS; each from q credit union,
Federal land bank, q joint stock land
bank, a railroad and from State for
an insurance fund; IA from agricul-
tural credit corporations and % from
regional agricultural credit corporations.
$3,500,o00 for Cotton.
OF the other advances authorized,
$3,500,000 went to. the Secretary of
Agriculture for cotton purchases; $4,-
SOC, 900 to the Secretary of the Treas
ury to make payments on Federal Home
Loan Bank stocks: $3,200,000 to the
land bank commissioner to facilitate
loans on farm mortgages.
The corporation sold $70,000,000 in
notes to the Treasury, making a total
of 81 $50 100000 of notes outstanding
at the close Of business on August 81.
Among some of the larger loans au-
thorized We're: Federal-American Ma
tional Bank & Trust Co., conservator,
mercial National Bank of Washington
(receiver) s1,885 900; District National
Bank, conservator, Washington, $780,
600; the City Savings Bank & Trust Co.
of Shreveport, La, $1,428,866; the
Presque Isle National Bank. conservator,
Presque Isle, Me-, $1,378, 900; Dearborn
State Bank, Dearborn, Mich, 81, ,539 900;
Guardian Bank Of Dearborn, Mich, 81
000, 900; Grand Rapids National Bank,
conservator Grand Rapids, Mich, 81
0,000; Highland Park State Bank,
Highland. Mich, $8,877.6 .696; Peoples
Wayne County Bank of Highland Park,
Mich. s1.o59.78s.
$1,600,00o to Maryland Bank.
Other large loans authorized included
81 900, 900 to the East Tennessee Ma
tional Bank receiver, Knoxville; the
County Corporation of Maryland, Cam
bridge, Md. $1,600,000; New Mexico
Credit Corporation, Albuquerque, N.
Mex, $400, 600; the Lebanco Realty &
Investment Co. Of st. Louis, 81 ,048, 900.
Loans previously authorized and
withdrawn or Cancelled during August
totaled s4.441 ,974.
Receipts of the corporation during
the month amounted to 154,175 800
and expenditures totaled $149 ,064, ,634.
Other loans to banks In the District
of Columbia during August follow:
Northeast Savings Bank conservator,
SITS, 900; Potomac Savings Bank Of
Georgetown conservator, $3.50. 900;
Seventh Street Savings Bank conserva-
tor, $225 900; United States Savings
Bank conservator, $490, 600; Washing
ton Savings Bank conservator, S110,-
900: Woodridge-Langdon Commercial
& Savings Bank conservator, sos, 900.
With the exception of the 4 per cent
loan to the Commercial National Bank
receiver, all the others were at ~
per cent. Also, with the exception OF
the advance to the Commercial Ma
tional Bank. none of the loans au-
thorized to Washington banks had been
dispensed on August 81.