Evening star., 1935-07-21
D. c. GROUPS LIFT
RENOV|z|NG LOANS
TO$l,0l7,5OD MARK
Building Associations Aid
1923 Owners in F. H. A.
Campaign Here.
BARBER & ROSS HOLDERS
ASKED TO BACK ACTION
Eugene E. Thompson, Secretary
of Bond Committee, Seeks Unity
in Reorganization Case.
BY EDWARD C. STONE.

of Columbia exceeded the $1,000, ,000
mark in loans made for moderniZa-
ton, repair and improvements since
the Inauguration of the Federal
Housing Administration drive last
September, according to Carl J. Berg
mann, liaison officer for the F. H A.
and the building and loan associa-
tons and president of the District of
Columbia Building and Loan League.
They have made 1923 loans, for a
total of S1017,500, in that period. ac-
cordjng to reports turned in Friday by
all the associations of the District.
This means that the building and
loans of the District are cooperating
to the fullest extent of their ability
with the administration drive for the
rehabilitation and improvement of
homes said Mr.. Bergman. while
these loans have been made without
the benefit of the insurance available
under the F. H. A.. the greater per
cent of the associations have qualified
for such insurance and stand ready
to make insured loans in cases where
there seems to be unusual risk.
LAS a matter of fact, the associa
tions here have been making loans of
this character consistently for many
years, but there can be no doubt that
the program of the F. H. A. has given
a tremendous stimulus to such activi-
ties on the part of home owners"
Acts on Barber G. Ross Bonds.
Eugene E. Thompson, secretary of
the Bondhclders' Protective Commit
tee for holders of Barber & Ross
10-year 612 per cent bonds. has sent
q letter to the holders of these bonds
suggesting that they authorize the
committee to act for them in seeking
to protect their interests when the
reorganization plan comes before the
courts.
The other members of the commit
tee are Henry P. Blair. chairman;
Christopher B. Harnett, counsel, and
Roger j. Whiteford, a washington at
torney. There are about $50 holders
of these bonds which are due January
/, 1887. They are largely held in this
city, being listed on the Washington
Stock Exchange. The last sale was
at 2015. They were brought out on
January 1, 1927.
The committee believes that united
action on the part of the bondholders
will better serve their interests when
the matter of reorganization comes
before the Supreme Court of the Dis
trict of Columbia. The committee
proposes to obtain all possible infor-
nation from the corporation and give
special study to the reorganization
plan. Conferences with the corpora
tion's creditors will also be held If the
committee deems such action advis-
able, for the consideration of any
plan they may be contemplating for
presentation to the court.
Compensation and actual expenses
incurred by the Protective Committee
are subject to the order of the court
under provisions of the bankruptcy
act and are not assessed against the
bondholders personally. Secretary
Thompson's letter suggests that bond
holders wishing the committee to act
for them send the necessary authority
to his address, 725 Fifteenth street
northwest, Washington, D. c. Blanks
are provided for this purpose.
For many years the Barber & Ross
Co. was known as one of the leading
hardware firms in the city, doing a
very large business in building ma
terials.
Loan Experts Going Abroad.
The District of Columbia will be
well represented in the delegation of
building and loan leaders, who are
sailing on August 10. to attend the
International Congress of Building
Societies, with sessions at Salzburg
and Vienna September / to 7. Among
the 35 reservations from all parts Of
the country, which have already been
made are those for Edward c. Baltz,
secretary of Perpetual Building AS
sociation and director of the United
States Building and Loan League;
Carl J. Bergman, treasurer of the
Washington Permanent Building AS
sociation, president of the District of
Columbia Building and Loan League
and also of the Southeastern Group
Conference. and C. Clinton James, at
torney for the Columbia Permanent
Building Association and chairman OF
the Federal Legislative Committee OF
the United States League.
The delegation will be headed by
Herman F. Cellarius of Cincinnati,
chairman of the American Organiza-
ton Committee and for more than
A years Secretary Treasurer of the
Omitted States Building and Loan
League, and Morton Bodfish, vice
chairman of the committee and ex-
ecutive secretary Of the United States
League. Others in the group include
Ward H. Whitlock of Springfield, ILL.,,
a past president of the United States
League, and Charles w. Thompson,
Lieutenant Governor of Kansas and
long prominent in the building and
loan world.
In London the party will be guests
at a series of entertainments ar
ranged by the British building So
cieties and the president of the In
tsrnational Congress, Sir Harold Bell
man, and will make visits to the
leading building societies as well as
tours of the governments slum clear
ance and low-cost housing projects.
Business Gains IS Per Cent.
! A. L. Baldwin. general agent of the
Northwestern Mutual Life Insurance
Co., on leaving here yesterday to at
tend his company's convention at
Milwaukee announced that the Wash
ington agency has paid for IS per
cent more business this year than last.
Accompanying Mr.. Baldwin to the
tContinued on Third Pase.)