Evening star., 1937-10-16
HOME LOAN BANK
SHOWS QUICK GAIN
Fifth Anniversary DiscIoses
Assets Of 1898, ,409, 900
In Winston-SaIem Units.
erecial Dispatch to The Star.

erecial Dispatch to The Star.
WINSTON SALEM, N. c.. October
l6.-At the height of its greatest activ-
ity, the Federal Home Loan Bank Of
Winston-Salem yesterday will OBJ
serve the fifth anniversary of its crea-
ition to serve thrift and home-finance
institutions in Alabama, Florida, Geor-
'gia, Maryland, North Carolina, South
Carolina, Virginia and the District of
Columbia.
=, The rapid growth Of this unit of
national home credit reserve system
is revealed in figures announced by
o. K. La Rogue, its president. Al
though it opened Offices on october
Is, 1882, by the end of that year only
II institutions in the district had
Joined the bank system. During 1898,
2l9 institutions enrolled as members
and subscribed to the capital stock of
the bank.
On September 80 membership num-
bered AL, including 237 State-char-
tered savings, building and loan asso-
Citations, 1873 Federal savings and loan
associations and life insurance COM
panies. Located in 245 cities, their
combined assets are estimated at $685.,
100000, an increase of $l74,00O,000 in
the past three years.
Dividends of S540,509.
To the end of 1886 the Winston
Salem bank had paid dividends of
S540,509 to the United States Treasury
and to member institutions in the
capital. Gross income up to Septem-
Der 80 amounted to $1,495,095. The
total income of $348,l90 for the first
nine months of 1887 compares with
s244086 and s186,e57 for the corre-
spending periods of 1886 and 1885.
The best index of the banks prog
ress is seen in the growth of its out
standing advances, which enable men,
ber institutions to remain liquid and
at the same time to meet the demands
for long-term loans for the construc-
ton. purchase, improvement and re-
financing of homes in their commune
ties. Up to September 80 the bank
had advanced S44,659,659 to members
and received s27,7lO,575 in repay
ments. The outstanding balance of
e16,949, ,083 is the highest in the his
tory of the bank, being an increase
OF s10,031,272 over the amount in use
at the beginning of 1884.
OF the proceeds of debenture issues
marketed recently by the bank sys
tenn, s5.041, 900 has been allocated to
the Winston-Salem bank.
Asset Strength Shown.
About one-haf of all active insti-
tutions Of the savings, building and
loan type in the district are included
In the banks membership. Their
strength is indicated by the fact that
their combined assets, however, are
almost three-fourths of the assets Of
Ill such institutions in the region.
OF the estimated total of $59,977 900
Of lending by all savings, building and
loan associations in the Winston
Salem bank district during the first
seven months of 1887, member insti-
tutions loaned some $51 ,232, 900, ac-
cording to a report of the Federal
Home Loan Bank Board at Washing
ton. This is gain of "a per cent
over the same period in 1896.
The Federal Home Loan Bank of
Winston-Salem on September 80 had
hssets of Sl8.441 $50; cash, $710,297;
investments in securities of the United
States and its agencies, s703,625; sur
plus and undivided profits, $4'69, 800,
and paid-in subscriptions to capital
stock. by members, $3,229,600 and by
the United States Government, So
208,200, totaling s12,437,e00. Net in
come for the first nine months of 1887
was $254,3