Evening star. [volume] (Washington, D.C.) 1854-1972, 1938-08-08
D. c. REPAIR LOANS
PUSHED BY BANKS
1,165 Deals Negotiated in
City Since February 3.
Average 30 a Week.
By DONALD b. HADLEY.

Housing Act is continuing undated,
according to reports received by the
District of Columbia Bankers Asso-
citation.
Records of the associations Offices
today showed that l,165 such loans
have been made by Capital banks
since the enactment of the amended
National Housing Act, which went
into effect February 3.
These loans are continuing to aver
age about 40 week, the association
reports Title I loans are for repairs,
alterations and remodeling work The
number made by the banks here has
been an important factor in many
property improvements which have
been carried to completion over the
city.
Several months ago the District
Bankers Association launched CO.
operative campaign to increase the
number of Title loans and the results
have been most gratifying, according
to bank officials
F. H. A. Report Issued.
Figures given out by the Federal
Housing Administration regarding
Title loans by all lending institutions
with Offices in the District of Columbia
show that from February through
June 80 there were $50 such loans
with a dollar volume of $306.825. The
later figure from the Bankers AS
ISOLATION shows the additional activity
Of the last six weeks.
Washington banks also have grant
ed many loans under Title II, known
as insured mortgage loans under the
Federal Housing Administration pro-
gram. The administration report does
not separate the banks in the state
r1ent, but announces that all lending
institutions in the Capital made 1856
Title II loans from the beginning of
the original National Housing Act up
to June 80, amounting to Sll 1856, $3.50.
Security Dealers Cheered.
The Securities Exchange Commis-
sion will maintain hands of" pol
icy in regard to over-the- counter
markets until dealer organizations
have had sufficient opportunity to
study the situation and make recon-
mendations. it was understood in the
financial district today. This was
hailed as highly favorable news as the
Investment Bankers, Inc. preliminary
investigations to determine what
changes should be effected in rules
and regulations are well underway.
The commission was reported in no
hurry to establish unit to map
changes in present over-the-counter
standards. Steps in setting up such
an organization probably will not be
taken until this fall. The desire is to
let brokers work out their own regula-
tons If results are considered made
quate. the commission can then con-
tinue the task.
The structure Management and
policy of the Nations largest insur-
ance companies will be studied by the
commission as part of its role in the
current monopoly investigation.
Every phase OF the set-ups of these
companies will be gone into by the
commission, it is understood. Among
points likely to play a prominent part
in the investigation are: Purchases of
blocks of stocks and bonds by large
companies, how stock is voted to deter
mine directors, how managing control
is gained, how policy is established,
what investment officials have in their
own organizations, size of salaries and
general structures and methods of
operation.
ID. c. Tourists Increase.
That Washington already is feeling
the effect of better business senti-
ment and improved business generally
over the country through a substan-
tail increase in tourist travel as COM
pared with a month ago. was pointed
out last night by the touring bureau
Of the Keystone Automobile Club.
According to Keystone's experts. the
volume of tourist travel into the Ma
tional Capital now is definitely exceed
ing earlier expectations, and the rea-
son they assign is the greater con-
fldence and optimism felt by prospec-
tive travellers as the business situation
has given unmlstakable evidence of
clearing up"
Should the business outlook con-
tinue to trend upward" the clubs
touring authorities stated, there is
every reason to believe, on the basis
of present travel volume. that the
fall influx of tourists into Washing
ton will approach peak record pro-
70 yN11 Of 10
the indication
Investing Firm Gains.
Sales and resources of the Fidelity
Investment Association of Wheeling,
w. Va. continued to reach record
heights during the month of July,
George L. Naramore, manager of the
Washington office, reports. Washing
ton sales were well above the 43 per
cent increase over June sales noted
by the association as a whole.
Consolidated resources of the asso-
citation as of June 80 were announced
Saturday at S37268,9 O523 This COM
pares with S3477O92493 consolidated
resources of Fidelity and its affiliate,
Fldel Association of New York, Inc,
as of December 30. 1887.
The steady increase of the COM
panys resources is shown by the re-
sources statement of February %, $751;
7o6,72l82, and that of March 81, $780,
152,98094. Original resources of the
association in 1911 were $6293456.
Sales of the Washington Office have
consistently paced the composite sales
of the association. which noted 29.7
per cent increase last month over
July, 1887. and an increase of 44.7
per cent for the first seven months of
this year over the same period, 1887.
D. c. Exchange Active.
Trading was active on the WASH
ington Stock Exchange this morning.
After the call six $1,000 transac-
lions in City and Suburban SIS were
recorded at 10. Potomac Electric pre-
ferred Was quoted at lis on a S.
share transfer. and the 5la per cent
- h. =