Evening star., 1939-02-15
Insured Mortgages
On Capital Homes
Increase Sharply
Total for December
Far Above Yeur AGO,
F. H. A. Survey Shows
BY EDWARD C. STONE.

amounted 10 $10S,UUU III comparison
with IL accepted in December, 1887,
amounting to only $6l 900, according
to the latest survey.
For the full year 1898, in the Dis
trict of Columbia, the F. H. A.
accepted 367 home mortgages for
insurance which involved total of
$2,126,900, the report states. The
December summary, just announced,
Is in line with other monthly state
ments during the year which also
revealed substantial gains.
Home mortgages accepted for in
surance in the whole country in
December were 1896 and amounted
to $51 1,058.1O0 During December,
1887, acceptances numbered 6,710
and amounted to $27 7,847 900.
Financial institutions substantially
increased their insured lending ac-
tivities under the National Housing
Act during 1898. The dollar volume
of these small-home mortgage in
surance operations reveals dollar
volume mounting to new high marks
for the third successive year. The
insurance by the F. H. A. in 1888
amounted to $4,323, as against $4,116
in 1887.
Large-scale housing mortgages,
insured under sections 207 and 2lO
of the Act. also scored striking gains
during the year. Such mortgages
totaled 1873 in number and $62 498, $50
in amount at the end of 1888, as
against 81 amounting to $15,005, 900
at the end of 1887.
determination and repair notes
reported by financial institutions
under Title I of the amended Act
numbered 374,976 and amounted to
e171.718,626 at the year end.
New Swift Reports Sent Out.
The Washington Office of Swift &
Co. has received the new type of
business report, with "streamlined"
statements" for the company's $4,000
employees. The old reports were is
sued for shareholders management
and bankers, but the new one is
designed for a different audience.
Although the new report is di-
rected to workers of one organiza-
ton, it has several features of inter-
est to others. The highly technical
accounting statements, usually seen
in financial reports, are absent. In
stead there are easily read lists of
aOur Income and Expenses, Wages
and Earnings" How Our Money Is
Invested and Where We Get Our
Money"
President John Holmes describes
last years operations, says that 49,
600 had vacations with pay last year,
and discusses the service records of
6,678 employees with the company for
more than 20 years, and pensions
for 3,470 From the standpoint of
steady employment the situation
looks better than it did a year ago,
he said.
C.. b p. Directors Reelected.
All directors of the Chesapeake
Il Potomac Telephone Co. were re-
elected to the board at the annual
meeting of the company held in
New York yesterday. The directors
are w. w. Everett, Robert v. Flem-
ing, Edwin C. Graham, Gilbert
Grosvenor, John Poole, H. L. Rust.
jr.; John Saul, Merle Thorpe, all of
Washington, and Fred LAWS of New
York City and Floyd B. Wilson,
president, and John A. Remon and
Philip o. Coffin, vice presidents Of
the company.
Loan Groups Assets Mount.
The February l statement of the
American Building Association dis
closes that total assets aggregate
$l1 ,152 ,460, the highest point in
history. Shareholders reserves and
profits are $932,076. with outstand-
ing first mortgage loans of $1O,512,-
S15. According to Secretary Blanz
the increase in the balances on in
dividual accounts during the past
year amounted to more than a mil
lion dollars, with over 900 new share
accounts opened.
Collection Ratios Improve.
December, 1888, department store
collection ratios reveal marked i'm
provement over collection condi-
tions in the same month in 1897, the
Commerce Department reported to-
day. The December ratio for the II
Federal Reserve districts was 20 per
cent above the same month year
ago.
The Federal Reserve Bank of
Richmond and six other Reserve
banks reported higher open-account
collection ratios than in December,
1887. The ratio on installment &C
counts also advanced over the pre-
vious year, showing a gain of 4.9
per cent. The Richmond bank re-
port includes Washington.
Crowley at New Jersey Bank.
Leo A. Crowley, chairman of the
Federal Deposit Insurance Corp, has
been in Jersey City in personal
charge of the closing of the New
Jersey Title Guarantee & Trust Co.
The payment of insured balances to
$4,000 depositors will be the largest
the Federal Deposit Insurance Corp.
has ever made. The bank had total
deposits of $23,285, ,349.
More than TOO bankers registered
at the opening day of the goth an
nual trust conference of the Ameri-
can bankers in New York. l.. H.
Paulger, Federal Reserve Board, was
on today's program and Frank j.
Hogan speaks tomorrow night.
Today's Trading on Exchange.
Washington Gas Light common
stock was in demand on the Wash
ington exchange today 48 shares
changing ownership. at 20, off a
point from the last previous sale.
Gas preferred figured in 10-share
sale at 1857. practically unchanged.
Mergenthaler Linotype, which
has recently been more active, ap-
peared on the board today, 80 shares
moving at 2o1s. off an eighth. In
the bond division, Anacostia &
Potomac River Railroad S. moved
at 81, on a $1,000 transfer.
Lanston Monotype is among the