Evening star., 1940-04-24
Large Gains Reported
By Savings-Loan
Associations
Steady Growth Of D. c.
Members Shown in
League Survey
BY EDWARD c. STONE,

of the United States Savings &
Loan League, having assets of more
than S5,000,000 according to the
1899 report Just made public by
H, F. Cellarius, secretary treasurer
of the league Eleven associations
enjoyed gains of more than $1,000
600 each.
Evidences of a steady climb in the
home financing business back to
prosperity are the most widespread
which have appeared since 1880,
the official says, There are now l24
building and loan member associa-
tions in the S5,000000 assets class
and 36 have more than $4,000 900.
Between 1880 and 1910 three asso-
Citations in Washington crossed the
$l0,000000 mark, the report says,
two in New York and two in Mime
apolis and several other cities had
one. The Washington members are
the American Building Association,
with S12,445, ,734; National Perma-
nent Building Association, with Sl0,-
435,7 $50 and Washington Permanent
Building Association, with total
assets of $10,130,462
The report includes all inStitu-
tions in the United States League
having S5,000,00o assets. The Per-
petual Building Association of WASH
ington again heads all the league
members in the United States, with
S50,49o,343. Others in the list are
Equitable Cooperative Building AS
sociation, $8,06l ,734; First Federal
Savings & &Loan Association, So
7850l3; Oriental Building Assocla-
ton, S6,233, TAB; Metropolis Building
Association, S5,913, ,566; Northern Lib
erty Building Association, S5,75l 300;
Columbia Federal Savings & Loan
Association, S5,l64,354, according TO
the national report. The HyattSVille
Building Association, assets $8,842,-
554, is also listed.
Daylight Time Starts Monday.
Summer time on the New York
Stock Exchange starts next Mon
day, which will move trading in all
the Washington brokerage offices
up an hour. The ticker quotations
will come in on the tranSluX at
o'clock and close at 2, taking place
of the present five-hour sessions
from 10 to o'clock. On Saturdays
the New York exchange will be
open from 9 to II.
Many Of the investment houses
will also adopt the earlier opening
and closing hours in order to serve
customers during the same time
that the New York exchange is in
operation. The Washington Stock
Exchange remained on standard
time last summer. Some members
of the exchange would like to see
daylight time adopted, but no &C
ton to that effect has been taken
yet. All the citys banks and build
ing associations will remain on
standard time
President Hugh Leach has noti-
fed all members Of the Richmond
Reserve Bank that Boston, New
York, Buffalo, Philadelphia, At
lanta and Chicago will operate on
daylight saving time. All tele-
graphic transfer of funds to these
reserve banks or branches will have
to be completed an hour earlier,
beginning Monday.
Bankers OFF to Hot Springs.
officials of the District Bankers
Association and committee chair
men will leave the Capital tonight
for Hot Springs, Va. to make final
arrangements over the week end for
the June convention. Ord Preston,
president, will be accompanied by
A. M. McLachlen, I. Stanley Hol-
land, John A. Reilly association
vice presidents and the following
committee chairmen:
A Scott Ofutt general Conven-
ton Committee; Hilleary G. Hos
kinson, program; Stanley D. Willis,
entertainment: Sidney F. Tallafer-
ro transportation Willard G. Bar
ker, hotel; S. William Miller, sports.
and William B. Willard, publicity.
James B. Edmunds, special rep
resentative of the Chesapeake &
Ohio Railroad. will accompany the
party and cooperate in arranging
Illldl u dlloJoI lolloIl NtItulit1. Az
hnanciers return Sunday night.
MergenthaIer Has U. S. Order.
The Mergenthaler Linotype Co. is
now carrying out 100000 order
from the United States Government,
S99,245 to be exact, for the manu-
facture of panoramic telescopes, &C
cording to announcement by Bar
ronS Weekly.
1t is generally understood that the
telescopes are special gun sights. In
connection with the manufacture of
linotype machines the Mergenthaler
plant has had wide experience in
making precision instruments, and a
part of the plant is now being used
to fine advantage in filling Govern
ment orders.
Reports in the street" state that
the present 100000 order will re-
ouire many months for compile
ton and that other Government Or
ders are believed probable. Today
report will be of great interest to
hundreds of Mergenthaler stock
holders who have seen quotations
turn upward in the last few days.
Pan-Americans Pledge Aid.
At a recent Pan american cele-
bration in Pittsburgh three i'm
portant South American statesmen
expressed the belief that Soutn
American nations would aid the
United States in case this country
should ever become involved in a
war to protect the Western Hem
isphere.
These views were expressed by
Don Andres Pastoriza, Dominican
Republic Minister to the United
States; Capt. Colon Eloy Alfaro
envoy from Ecuador, and DR.
Julian R. Caceres, Honduras Min
lister to the United States.
At the dinner the speakers also
stressed the trade relations between
their countries and the United
States. DR.. Caceres said that 81
per cent of Honduras exports are
to the United States, and 81 pei