Evening star., 1938-04-28
DEMAND EXPANDS
FOR LOANS HERE
Banks Get Many Requests
for Funds to Finance
Housing Betterments.
By EDWARD C. STONE.

Groom, president Of the District
Bankers Association, announced to-
day. The loans now being requested
are largely for repairs and improve
ments on homes, the banker stated.
With spring here to stay, many resi-
dents consider this the best time of
the year to make Improvements on
their property
Many of the present loan applica-
tions are the direct result of the CO.
operative advertising campaign con-
Quoted in the Washington neWspap pers
by the District Bankers Association
The aim of this drive has been to call
attention of residents of the Capital
to the fact that plenty of money is
available for all kinds of moderniza-
ton and renovizing construction. 1t
Is the second time the association has
carried out this kind of housing pro-
gram.
The results in recent weeks have had
a marked effect on increasing jobs and
also in improving the market for
building materials. Those are the two
biggest goals of the campaign. Putting
more money into circulation is another
important factor.
The associations Advertising Com
mlttee is receiving many requests from
all over the country for copies of the
advertisements and an outline of the
way the present housing drive is being
conducted by the banks. The idea is
spreading rapidly to other cities.
Since the review of the housing
campaign here by President Groom,
which appeared in the Federal Hous-
ing Administration Official organ, the
Government bureau has also received
many requests for further information
on the Washington plan"
After careful investigation. most of
the loans now being sought at the
banks are being promptly granted, it
was reported today.
Reilly Cosmopolitan Speaker.
Responsibility of the banking pro-
fesslon in adopting progressive credit
methods to meet the business prob
lens of today was reviewed by John
A. Reilly president of the Second
National Bank, in an address before
the Cosmopolitan Club at the Carle-
ton Hotel this noon He said that
banking is business like any other
enterprise. Such institutions repre-
sent a very definite need which was
responsible for their creation. Just
because institutions become firmly
established in given community
they should not dlsintegrate into
useless, cold, colorless piece of finan-
cial machinery. Bankers must, if
they are to perform faithfully the
sacred trusts of their Offices, awaken
to the needs of our day and represent
the living developing forces of our
times.
Social and economic changes are
inevitable in rapidly moving civili-
cation. They are positive signs of
growth and not decay. The fear OF
Innovation on the part of the banker
should be thing of the past. He
must adapt himself to the changing
S11liCo, NI. 1belIly SdlQ.
Credit should be extended where
the borrower is deserving. Bank
credit, If properly used, should be
flowing stream and not a stagnant
pool No banker, however, should per-
NIT himself to forget that his credit
risks will cause ultimate substantial
losses unless the fundamentals of
credit granting are adhered to. Mr.
Reilly concluded.
Baker Again District Manager.
Announcement was made today by
L. c. Campbell, vice president and
general manager Of the Wilson Line,
Ilc., OF the re-appointment of Harry
E. Baker as district manager of the
line. The eighth season of operation
on the Potomac River will get under
way Thursday, May -, when the
Junior Board of Commerce will have
"Showboat Cruise" on the steamer
City of Washington.
Several Washington bankers will at
tend the banquet this evening of the
Southeastern Conference of the United
States Building g. Loan League at the
Mayfower Hotel Sir Harold Bellman
Of London will be the guest speaker.
Among the speakers at the business
sessions today was E. C. Baltz presi-
dent of the national organization.
Lowell Chawner of the Commerce De-
partment told the delegates yesterday
that what the United States needs
is five-room house to rent at s25
to s35 a month. Carl J. Bergman,
Washington, was another speaker.
Loans to Officers Extended.
President Roosevelt has approved
the bill amending the Federal Reserve
Act regarding loans by banks to their
own officers, the Richmond Reserve
Bank announced today. Loans made
to executive officers of member banks
prior to June 16, 1888, may be renewed
or extended for periods expiring not
later than June 16, 1899. This is an
extension Of year and meets the
claim that payment of some of these
loans at an earlier date would be
an unjust hardship.
Veteran Bank Officer Lauded.
William E. Howard, the National
Bank of Washingtons assistant CASH
Ter, who is just rounding out half a
century of service with the bank, was
given unstinted praise for his splen-
did service at a dinner at the CONT
mental Hotel Tuesday evening, the
testimonial being rendered by the
officers and clerks. Every officer and
every clerk, 48 in all, was present
President j. Frank White presided
Odell S. Smith. secretary of the
Board Of Directors, was the chief
speaker, and Louis M. Denit, trust
officer, presented Mr. Howard with a
fine travelling bag from his fellow
bankers.
Exchange Trading Heavy.
Trading was the most active on the
Washington Stock Exchange today in
several weeks.
Mergenthaler Linotype opened with
seven small sales at %. Later "a and
25 share sales were registered at %.
~s-A~, ~f O.