Evening star., 1939-09-23

accompanied by their wives, will
leave here late today and tomorrow
among them:
Milton H. Prospect, Charles H
Kindle and Bernard j. Coyle, all of
the American Building Association;
Clarence E. Kefauver, Columbia
Building; Fred A. Smith, Columbia
Permanent; F. Wilson Camp, Dis
trict; William N. Payne, jr., East
ern Building; Edward L. McAleer,
Equitable; Carl Ellingson, First
Federal; Edward K. Jones, Inter-
state; Francis L. Neubeck, National
Permanent: Schuyler S. Symons
and Rudolph j. Boehs, Northeast;
George M. Emmerich, w. c. Zim-
norman and Harry M. Packard,
Northern Liberty; Chaplin B. Bau-
man, Oriental; E. j. Carlson, Pru-
Dental; Howard S. Gott, William
K. Copenhaver and R. L. Houston
Jones of Northwest Federal.
Prominent on the four r-day con-
vention program are addresses
from Washingtonians as we'll as
speakers from Government agen-
cies Among the latter are John
H. Fahey, chairman of the Federal
Home Loan Bank Board; Federal
Loan Administrator Jesse Jones,
Frank Hancock. jr.. and Ayers j.
Du Bois of the Federal Housing Ad-
ministration.
Insured Mortgages Decline.
Home mortgages accepted for in
surance by the Federal Housing Ad-
ministration in the District of Co.
lumbia In July totaled "a and
amounted to $179,10O, compared
with SO in July, 1898, amounting to
$2l7,400, according to latest F. H. A.
reports. In the first seven months
of this year home mortgages ac-
cepted for insurance numbered 303
and involved ST 637 ,5OO
The July totals for the whole
country also disclosed a downturn
from June of more than the usual
amount, the report said. In Mary
land mortgages totaled 166 in July,
amounting to $757,0O0, against IT'S
8 year ago, amounting to $866, 200.
In the seven months insured mort
cages numbered 1850, involving
$6,O432 200.
In Virginia these mortgages num-
bered 1876, totaling $838, 900, against
296, totaling $1,349 500, last year. In
the seven months the number
reached 1,511 and amounted to
$7,093, 100, the report stated.
Embargo Lifting Favored.
In his monthly letter to the
Washington Association of Credit
Men, National Secretary Henry H.
Heimann says that large segment
of business favors a change in the
present neutrality law and the re-
instating of the cash and carry
principle. This group declares, he
says, that since American business
is not responsible for the war it
should not be hampered If it has a
chance to fill orders from the BEL
ligerent nations.
The "cash-and-carry' policy gives
all belligerents the same chance
but no credits can be extended and
the goods cannot be carried in YES
sells flying the American flag. In
this way we are not involved flnan-
cially because we have no credit
Interest and the title of the goods
has passed to foreign ownership
before it leaves our ports, he says.
Secretary Heimann says the
group which favors revision Of the
Neutrality Act advocates that "the
Nation stick to the recognized prin-
ciples of international law and allow
all belligerents an equal opportu-
nifty to buy
Baldwin Executive Secretary.
Philip L. Baldwin, Washington
Insurance man, was elected execu-
tive secretary of the National As
sociation of Mutual Insurance
Agents in Buffalo yesterday by the
700 delegates at the convention. AS
already noted, Charles M. Boteler,
also of this city, was elected presi-
dent. The 1910 convention may be
held in Washington.
Washington brokers report that
many new accounts are being
opened during these lively New
York Stock Exchange sessions. The
same is true all over the country.
The chief difficulty now is to decide
what to buy. The so-called war
stocks are still popular in spite OF
the spectacular advances which
many have enjoyed, brokers say
adding that the present advancing
business indices are having a lot to
do with the great interest in the
market.
Morgenthau Opposes Change.
Secretary of Treasury Morgen-
thau said at his Friday press con-
ference that he is "agin any change
In the status of the Office Of the
controller of the currency" The
comment was made regarding q
statement by Gurney P. Hood
North Carolina bank commissioner
who would like to see the on1ce
turned over to the Federal Deposit
Insurance Corp.
The Department of Commerce
reports that 21,562 independent re-
tail stores in % States showed
per cent gain in sales during August
over the like month year ago anc
the same gain over July this year
The dollar volume was $2l7, ,213,74
against $203,039,410 in July anc
$2O3, ,541,743 in August last year.
Dora E. Chambers, chairman o.
the board of directors and president
of the Matewan National Bank
Matewan, w. Va, is the only woman
in the Fifth Federal Reserve Dis
trict holding such offices, according
to q survey of the status of womer
In banking. In other sections O.
the country there are many womer
bank presidents and several boare
chairmen.
Internal revenue collections OF
safe deposit boxes in banks ane
trust companies for the month O.
August decreased slightly to a tota
OF $l80,927 as compared with $182,
l38 In the same month of last year