The Washington times., 1934-04-30

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Stock ExcnAnge
has made no ar Dunbar Hare
rangementS for meeting earlier.
Such q decision, however, may be
made.
While the brokers hate to get up
earlier, they will quit at 2 o'clock
on week days and II o'clock on
Saturdays, instead of 3 and IL, re-
spectively, which gives them more
time for golf, bridge and other
recreations.
John F. Moran, receiver of Park
Savings Bank also has been
named receiver Of the Depart
mental Bank. He succeeds w. B.
Altman.
Mr.. Moran announces that for
convenience of liquidation of both
banks, liquidation of the depart
mental Bank also will be carried
on at the Park Savings. Books and
other records of the departmental
viii be moved tomorrow, the build
ing closed, and sold as soon as pos
6ible.
T. Standley Holland, trust Of
ficer of the American Security and
Trust Company, has been pressed
into service as chairman Of the
sports committee Of the District Of
Columbia Bankers Association to
be held late next month at White
Sulphur Springs, W. Va.
Also on the committee are M.
+. Calnan, vice c Geirman; D. j.
Callahan, jr., Robert II. Lacey,
c. D. Ratcliffe and James A.
Soper.
Mr.. Holland and his committee
have already gone to work, lay
ing out a program Of activities,
both for the men and the ladies.
W. W. Spaid is receiving con-
gratulationS on his reelection as
vice president of the Association
Of Stock Exchange Firms. Mr..
Spair is one of the partners in
w. B. Hibbs & Company.
John H. Fahey, chairman Of
the Home Owners Loan Corpora
ton, announces:
"Speedier relief for distressed
home owners, increased credit
for new home building and re-
pair, wider employment in the
building trades, and strong
Federal protection for private
savings are some of the con-
crete benefits anticipated from
the amendment to the Home
Owners Loan Act, signed Sat
urday by President Roosevelt"
John II. Fahey, chairman of
Federal Home Loan Bank Board,
said today. His complete state
ment follows:
Five major Objectives and
several minor ones are accom-
plished by this new legislation.
First Of all, the United States
Government now guarantees
both principal and interest Of
the bonds Of the Home OwnorS'
Loan Corporation, previously
guaranteed only as to interest,
a second important provision
Of Act rigidly restricts loans by
the Corporation to home own
ers who were in involuntary
default on June 13, 1893, or
whose default at q later date
has been due to circumstances
beyond their control. Only in
exceptional cases will loans be
made to applicants whose de-
1ault has occurred since then.
"A third feature of the new
amendment, which may prO-
v1de employment for the equiva-
lent Of 125,OOO men for a year
Or more Is the authorization of
92OO,OOO,OOO to be advanced by
The Home Owners Loan Cor
pOratlOn from its own funds.
Tor reCOnditiOning homes. This
fund is strictly limited to homes
On which the Corporation makes
relief loans"
John Mothershead, of West
heinler & Company, is such a
bridge addict that he buys every
book on the subject. According
20 A. Harmer (Dutch) Reside.
manager Of the company, Mr..
Mothershead has the most ex-
tensive collection of bridge-aidine
books in the city, if not in the
country.
Mr. Reside says:
IF anyone wants to publish
. book on bridge they can be
satisfied that at least one will
be bought. Mr.. MOthershead
as an Al addict"
Miss Bess Schoor, also of West
heimer & Company, has been out
OF town for the past several
days. She's been attending q
wedding in New Jersey.
w. w. Spaid, Of w. B. Hibbs
d Company, is said to be very
proud Of his victory in the re-
cent District Of Columbia Bank
'erS Association golf tourney at
Columbia Country Club. Mr..
spaid might be described as a
golf addict. He went to Florida
recently and played 36 holes a
day. Perhaps that practice stood
him In good when the tourney
was played