Evening star., 1939-10-21
District Bankers HonOred,

Appointments just made by Robert
M. Hanes, newly elected president
of the American Bankers Associa-
ton include honors for two WASH
ington bankers.
Robert V. Fleming. president of
the Riggs National Bank, was ap-
pointed member large of the
A. B. A. Executive Council, while
George o. Vass, vice president and
cashier Of Riggs National, was ap-
pointed by Mr.. Hanes as member
OF the Public Relations Council.
Both flnanciers were among the
members of the Washington delega-
ton who attended the recent con-
vention in Seattle.
Mr.. Fleming has served on the
Executive Council every year since
he was president of the national
association.
Mr.. Vass has been one of the
leaders in the Riggs Bank public
relations program which has proved
so highly successful
Hanes Sees Higher Prices.
In addressing the Kentucky Bank
erS Association, President Hanes of
the A. B. A. predicted higher prices
as bound to come. A few years ago
it was the avoWed policy of the
Government to raise prices to levels
which have not yet been attained.
Now, he said. the Government must
not use the confusion arising from
the European war to put through
further economic restrictions.
IF the war lasts long enough and
II the Administration in Washington
succeeds in having the arms en-
barge repealed, we may see a de-
mand develop for some of our COM
modities that will produce substan-
tial price advances 1t will not be
fair to denounce this as profiteer-
ing"
Asserting that forces of supply
and demand work despite opposition
to them, Mr.. Hanes recalled the re-
cent run made on sugar supplies by
housewives.
The A. B. A. chief executive also
warned against the dangers of war
boom. mo permanent benefit will
accrue to business from a greedy
policy Of making profit out of the
war suffering abroad he said.
Home Mortgages Accepted
Home mortgages accepted for in
surance by the Federal Housing Ad-
ministration in August in the Dis
trict of Columbia numbered 48
against A year ago, and amounted
to S266 $500 as compared with S228,-
600 last year, the F. H. A. reports.
To the end of August this year
these mortgages in Washington
numbered 351 and amounted to
sl,904,10O, the report adds.
Final figures show that property
improvement loans reported in the
District of Columbia under title I
OF the National Housing Act from
February, 1898, through June, 1889,
numbered $3.50 and amounted to
$1,615,71881.
The lending period now in prog
ress began July under the Housing
Act as amended on June 3, 1899. and
will extend through June, 1941.
Title I loans reported in Washington
under the amended act totaled 80 in
August and amounted to $38,112O9.
The cumulative July-August period
registered LOG such loans amounting
to a total of $44, ,54413, the F. H. A.
report says.
Washington banks have been espe-
cially active in extending title 1
loans to patrons and the latest re-
port indicates that property owners
are still interested in obtaining
funds for repairs in this way.
Virginia Bank Director.
Curtis C. Humphries, Lexington,
Va, merchant and secretary-treas-
urer of the Rockbridge County Fair
Association, has been elected a di-
rector of the Peoples National Bank
of Lexington, to succeed the late
Hugh A. White.
Capital Transit stock figured in a
turnover Of 104 shares on the Wash
ington Exchange today at 1924.
Lanston Monotype stock appeared
on the board in a 10-share sale at
3912, while small sale in Potomac
Electric Power 6 per cent preferred
stock took place at 11212, around
recent levels.
Washington Gas Light common
stock, American Security & Trust
Co., National Savings g. Trust Co.
and Washington Loan g. Trust Co.
shares are now being quoted ex-
dividend on the exchange. regular