Evening star., 1934-10-27
HOME LOAN TOTAL
IS N35,0)O,OOO
Figures on Disbursements
Are SO Pct. Higher Than
Estimates for Year.

Advances totaling $435, 100000 were
granted to home owners by savings,
building and loan associations last
year, it was reported here by H. F.
Cellarius of Cincinnati, secretary
treasurer of the United States Build
ing and Loan League, at the opening
session of the leagues annual conven-
ton.
The report contained the first off,
clal statistics on the business for the
year ended January /, 1884, and the
total figure on loans disbursed was
about 80 per cent higher than any
estimates made. Practically the only
private capital lending agency in the
home mortgage field in 1888. the
associations made four times the VOL
ume of loans extended by the H. O. L.
c. up to the first of the year, Mr..
Cellarius pointed out.
Huge Assets Reported.
Total assets Of all associations Of
this type in the United States and its
Territories were $6.977 ,531 ,676 as of
January 1, and total number Of
shareholders, including both borrow
ers and saving members, was 9,224, ,105
The number of associations was re-
ported at l0,727.
Five States increased their building
and loan assets during 1888, including
District of Columbia, Tennessee. Idaho,
Nevada and Hawaii.
New Jersey maintains its rank as
the largest building and loan State,
with sl.050O00.OO0 in assets. Penn
sylvania and Ohio come next with
nearly billion dollars each. followed
by Massachusetts, with considerably
more than half a billion in resources.
The surplus and undivided profits
OF the combined associations showed
a greater increase at the end of the
year than did the real estate accounts
of the associations, testifying to the
sound status of the institutions" said
Mr.. CellariuS. Total gain in the re-
serves for the year was Sl82. sos, ,030,
while the increase in the real estate
accounts of the associations amounted
to only $174, ,158, ,928. The total amount
of undivided profits and surplus held
at the close of the year 1888 was 736
per cent to total assets, as compared
with APT per cent in 1882 and 1926
per cent in 1881 This indicates a
steady. healthy improvement in the
financial condition Of these associa-
tions during the past few years"
Decrease in Shareholders Less.
The secretary treasurer pointed out
that the net decrease in number of
building and loan association share
holders was less in 1888 than in the
previous year, showing the rapid gain
in confidence in this type of invest
ment during the latter months of 1888
when other types of financial troubles
were beginning to come to an end.
Shareholder total fell off by $50, ,687
during 1888, as compared with 1,223,-
909 during the previous year he said.
The business maintained its safety
record with less than l per cent of
total assets involved in 1888 losses.
THE most significant figures in the
1888 report are those relating to new
loans made by the associations" said
Mr.. Cellarius. Five States. Louisiana,
Georgia, District of Columbia, Massa-
chusetts and Iowa expanded their
lending operations in 1888, as COM
pared with 1892 The total amount
loned by all the associations was only
18 per cent smaller than their record
for the year before, and with its S435,-
100000 worth OF new loans added to
the books the building and loan busi-
ness established itself as the only
sizable lender of home mortgage
funds In the United States outside of
the Government relief agency"