Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-09-15
BANKS TAKE LEAD
IN BACKING F. /. A:
FINANCE PROGRAM
Account for More Mortgages
and Loans Than All
=. Other Institutions.
CREDIT VOLUME RISES
I TO 1921 1904, 1897 LEVEL
Robert v. Fleming Points to
Vital Part Played by A. B. A.
in Stimulating Building.
BY EDWARD c. STONE.

for considerably more OF the mort
cages and modernization loans that
the Federal Housing Administration
Is issuing than all other classes of
institutions combined Robert V.
Fleming, first vice president of the
American Bankers Association and
president of the Riggs National Bank
announced yesterday.
At the time the Housing Admin
istration began operations year ago,
the A. B. A. declared its sympathy
with the national housing act and
designated Mr.. Fleming to act as its
liaison representative to cooperate
with the Housing Administration.
II am advised that in this short
space of time the volume of credit
extended for modernization of prop
erty and mortgages selected for ap-
praisal to be insured on dwellings
has reached the total of 1921 904 1897,
and the daily volume is steadily in
creasing," Mr.. Fleming stated.
"A very substantial part of the
residential construction, property re-
pairs, and the manufacture of build
ing materials, equipment and ma
chinery, etc, thus stimulated is due
directly to the active participation
of A. B. A. members in the insured
mortgage plan and the modernization
credit plan of the F. H. A"
Provisions of the national housing
act afford a medium whereby the
banks of the country can materially
assist in economic recovery and rem
der a further useful service to their
communities, as we'll as obtain safe
and sound earning asset, Mr.. Fleming
declared, adding that letter had
been sent to the members of the
bankers association calling attention
to certain additional measures re-
Gently adopted by Congress designed
to make the original law more work
able and broaden the opportunity
for service.
Exchange Trading Picks Up.
Saturday trading on the Washing
ton Stock Exchange showed marked
improvement yesterday. Bonds were
popular, $1,000 Washington Gas SIS,
1860. selling at 1T, with four 81 900
sales taking place in City & Subur-
ban SIS at 90, off a point from the
high for the year. Capital Trac-
ton SIS appeared on the board at
e7A, on $500 transfer.
In the stock division, nine shares
of National Savings g. Trust Co.
stock came out at 100, while Potomac
Electric Power 51a per cent preferred
again moved at 1872. Capital Tran
sit WIS the most active issue, closing
the week at an advance. 1t opened
with 10 shares selling at Tx and
closed with IS shares registering 1713.
American Telephone and Peoples
Drug Stores preferred are being
quoted ex dividend. Regular quar-
terly dividends on these issues are due
in a few days. Business on the Ex-
change held up well during the week
and prices were firm.
Bank Women Organize.
Miss Vivian E. Stokes, Hamilton
National Bank, has been appointed
chairman Of the Women's Committee,
Washington Chapter, American In
stitute of Banking, according to an
nouncement yesterday by j. Earl Nc
Geary, president of the chapter. |
Serving with Miss Stokes on the
committee are:
Harriet M. Barrett, Riggs National;
Theresa BehabetZ, Union Trust Co.;
S. Winifred Burwell, National Metro
politan; Anne P. Crawford, McLach- |
len Banking Corp; Eileen NJ Fin
eran, American Security & Trust Co.;
Constance D. Fogle, Riggs National;
Myrtle P. Lewis, Liberty National;
Katharine w. McCalmont, w. B.
Hibbs & Co.; Janet A. Mcdonald, |
American Security g. Trust Co.;
Etheline E. Parker, Security Savings |
g. Commercial; Mary Pfeiffer, Wash
ington Loan & Trust Co.; Rose L.
Royce, Washington Loan & Trust |
Co.: Alice H. Whitton, First National
Bank, Alexandria; Gertrude c. Wick,
Liberty National, and Marion Willett,
National Metropolitan.
Miss Stokes, the new chairman,
entered the banking field in Wash
ington in 1928 and has been identi-
fed with the Institute since 1929,
having served on numerous important
committees. For the past three years
she has been a member of the
Women's Committee and is a member
Of the Educational Committee this
year. She holds the standard and
pre-standard certificates of the In
etitute.
The committee has already started
preparations designed to interest bank
women of Washington in the Insti- |
tute.
Heard in Financial District.
Harry G. Meem, president of the
Washington Loan & Trust Co., has |
returned from vacation passed with |
friends at the Newport Naval Station. |
Newport, r. l., and visit to At |
lantic City.
Harold G. Cummings has become |
associated with Auchincloss, Parker
IL Redpath, Washington investment
firm. A resident of the Capital since
1905. he was educated in the public |
schools, graduated from Central High |
in 1921 and from the University OF
Alabama in 1924. For some years he |
was with the Chesapeake & Potomac
Telephone Co., later entering the Sc
curities business. Since 1882 he has |
been with the United States Farm |
Credit Association.
New insurance production in Au-
gust in the United States was off z
per cent from last year, but up 80 per
cent for the first eight months Of
1885. The washington figures. due
In o few days, are expected to reveA
AN Auc1Ist increase