Evening star., 1934-12-23
TWO GROUPS GIVEN |
PLACE IN BUILDING
AND LOAN LEAGUE|
Citizens Equitable and In
terState Associations
Added to List.
ONE ORGANIZED IN 1883, |
OTHER STARTED IN 1892
Lanston Monotype Most Active
Issue in Saturday Trading on
Washington Exchange.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Announcement of the admission of
two new members, the Citizens Equi-
table Building Association and the
Interstate Building Association, was
made at the regular monthly meeting
of the District of Columbia Building
and Loan League the last week.
This makes a total of 10 associa-
tions, representing SO per cent of the
building and loan assets IN the Dis
trict, which have complied with the
membership standards and require
ments of both the District League and
the United States Building and Loan
League, membership IN either the
local or national organization being
conditioned upon an associations &C
ceptance by the other.
Association 81 Years Old.
The Citizens Equitable Building
Association, located at 1907 Wisconsin
avenue, was organized in 1888 by a
group Of prominent Georgetown busi-
ness men, among them being John
Leitch, James Goddard and S. Thomas
Brown, the latter afterward serving
as president of the association for "a
years. The present president, Isaac B.
Nordlinger, has been a resident OF
Georgetown all his life and upon re-
tirement recently, after so years as
shoe merchant, was given testimonial
dinner by his fellow citizens Of
Georgetown.
In addition to Mr.. Brown and Mr..
Nordlinger, there have been two other
presidents of the association, William
Clabaugh and Thomas ]. Stanton, the
latter serving for % years. The pres
ent officers of the association, in ad-
dition to Mr.. Nordlinger, are: John
Hadley Doyle, vice president; H. w.
Burnside, secretary, and Harry L..
Selby, treasurer Of its directors,
Patrick F. Carr has served 40 years in
this capacity.
The Interstate Building Association,
located in the Washington Building,
was organized in 1882 by John l..
Weaver, well-known Washington real
tor. and a group of business associ-
ates. 1t now has more than TOO
members and assets of approximately
S275, 900. 1t has recently been ad-
mitted to membership in the Federal
Home Loan Bank of Winston-Salem.
officers, in addition to MIR. Weaver,
who is president, are: Clarence
Dodge and Earl M. Macintosh, vice
presidents; Martin r. West, treasurer,
and Edward K. Jones, secretary.
Oficials Address League.
Two representatives of the Federal
Housing Administration, ]. K. Gill
christ, assistant to the director of the
field division, and j. E. Woodruff OF
the field division address the meet
ing of the District League Tuesday on
the plans that are being made for
more intensive drive for moderniZa-
ton and repair loans under title I OF
the national housing act.
They stressed the importance of
building and loan associations filing
acceptances of insurance contracts
with the Federal Housing Administra-
ton and, in turn, were assured of the
whole-hearted cooperation of the as
sociations of the District.
Although under the present regula-
tions the typical building and loan
mortgage of 8, 10 or IL years is not
eligible for insurance, the building
and loan officials are hopeful that the
five-year insurance may be made ap-
picable to their loan plan and thus
enable them to take on a greater
number of insured loans under the
Federal Housing Administration.
Lanston Stock in Demand.
Lanston Monotype stock was in
particularly good demand in yester-
days trading on the Washington Stock
Exchange. 1t recorded 10O-share
turnover. Ten shares came out at
481s at the opening. The next sale
was so shares followed by 40-share
block, both these transfers being made
at 48 fiat.
Washington Gas Light SIS furnished
the only other business of the day, a
$1,000 bond changing ownership at
l00R. National Union Fire Insur-
ance directors have voted the regular
dividend. The stock, now selling at q
low figure, yields $50 per cent.
Trading was quite broad on the ex-
change during the week, nearly all
the leaders appearing on the board.
Capital Transit stock was rather
quiet after payment Of the 81 divi-
dend. 1t wound up the week at 2614.
There was considerable bond trading,
investment actively in the senior is
sues have been satisfactory all the
month.
Financial District Gossip.
M. D. Rosenberg, president of the
Bank of Commerce & Savings, is
spending few days at Atlantic City.
The Council of Administration Of,
the District Bankers Association will
hold the regular December meeting
next Friday.
The Southern Maryland Trust Co.
will pay a 10 per cent dividend to-
morrow amounting to about $4,000,
the payment to be made at the Seat
Pleasant Bank. This brings payments
up to 80 per cent, while the date
makes it a real Christmas present to
former depositors. It is expected that
much of this money will be redeposit-
ed in the present bank.
Best Christmas trade in five years
Is still the expectation in many sec
tions of the fifth Federal Reserve dis
trict.