Evening star., 1938-04-30
|NCREAS|NGL0ANS
FOR HOMES SEEN
Bank Presidents Report
Improvement in Real
. Estate Market.

Improvement in the real estate mar
ket and increasing loans by savings
and loan associations for the con-
struction of homes were reported to
the Federal Home Loan Bank Board
by the presidents of the Federal Home
Loan banks in their semi-annual con-
ference just held here.
Particular progress in construction
and in the growth of home financing
institutions was reported from the
Southern States and the Southwest
One Of the most encouraging re-
ports received by the board was that
Of o. K. La Rogue, president OF the
fourth district bank in Winston Salem,
N. G. Mr.. La Rogue said both rent
ais and sales of homes were show
ing an upward trend there. From
60 to rs per cent of the lending by
associations in the Southeastern States
is for new construction. Membership
In his bank increased by Is institu-
tions during the last year.
Investments in the share accounts
OF home financing institutions have
been steadily increasing since the first
Of the year" he said. Building opera
tions are mounting and 429 of our
member associations increased their
total assets 16 per cent in 1887"
Arkansas Homes Increase.
B. H. Wooten, president of the
ninth district bank in Little Rock,
Ark, reported growing demand in
the Southwestern States for funds for
home purchase and construction. He
said his bank made more loans to
member associations in March than
in any month since its organization.
He estimated so per cent of all loans
made in his district were for new
construction.
Business conditions in the southern
part of the Pacific Coast are good
compared to the rest of the country"
M. M. Hurford. president OF the twelfth
district bank in Los Angeles. declared.
He said the sale of single family homes
was increasing. although the demand
for business properties was weak. He
estimated lending tor new construc-
ton in his district at 60 per cent of
the total of all loans.
Fred T. Greene, sixth district bank
president of Indianapolis, said in In
diana and Michigan the home financ-
ing business was quiet during the fall
and winter but is now becoming
quite active, with a good outlook for
the spring and summer" He said IL
new savings and loan associations
with assets of s25.OO0,OOO had joined
his bank during the last year.
In the New England States, reported
w. H. Neaves, president of the first
district bank in Boston, better lending
plans and low interest rates are at
tracing an increasing number of home
buyers. Membership of his bank, he
said, increased by is per cent within
the last year.
Topeka Market Slowing.
c. A. Sterling, president of the tenth
district bank in Topeka, stated that
through 1897 the sale and construction
of homes increased in his section, but
the market has slowed up within the
last 60 days. His bank gained 10 new
members within the last year.
George L. Bliss, president Of the
second district bank in New York
City, said the real estate market in
his district, which includes New York
and New Jersey. was improving, par
ticularly as to the liquidation of re-
possessed real estate now in the hands
Of lending institutions"
"a heavy influx of savings into our
member thrift and home financing in
stitutions in recent months has placed
them in a position to retire their bor-
roWings, which they have been doing
in substantial volume" Mr.. Bliss said.
He estimated lending for new con-
struction at so per cent of all loans
and said the real estate market gen.
orally was improving.
Des Moines Building SIackens.
r. ]. Richardson, president of the
eighth district bank in Des Moines,
said the trend of rentals in his Sec
tions was upward. but there was little
new construction in evidence.
with 10 per cent Of our member
institutions insured by the Federal
Savings and Loan Insurance Corp.
he added, money is flowing into them
freely at such dividends which enable
them to provide interest rates for home
mortgage loans that meet competition
successfully in the lending field"