Evening star., 1940-08-13
Savings and Loan
Lending Activities.
Increase for Half
Gain Of % Per Cent
Is Registered for
First Six Months
By HAROLD b. ROGERS.


With loans for new construction |
showing sharp gains. the new mort !
gage lending activities OF savings
and loan associations increased %
per cent in the first SIX months Of !
1910 over the corresponding period
in 1899, according to survey by the |
Federal Home Loan Bank Board.
Federal chartered member insti-
tutions of the Federal Home Loan |
Bank System showed an estimated |
increase of 316 per cent, while State |
chartered member institutions in
creased their activity 222 per cent,
Non-member institutions increased !
their business 73 per cent.
Federal associations increased |
their new mortgage lending from |
Sl81 .855 900 in the first six months
of 1889 to S239 $4,000 in the similar
period of 1910.
The new mortgage business of /
savings and loan associations for
June, 1910. was estimated at Sl06,- |
$4,000. a drop of sc per cent from
the S114,542 900 figure for May, but
1876 per cent above figures for June, !
1889. All types of bank members
were represented in the June-to-
June increase, but activity of nom
member institutions decreased 6.6
per cent.
Loans for new construction in
creased from Sl33 672 900 for the first
six months of 1899 to S172 ,594 900 for
the first six months of 1910, with
member institutions of the bank sys-
tenn responsible for Sl53,3l5,000 OF
the total.
Mortgage Gains Reported.
The gain in new mortgages among
Federal savings and loan associa-
tions was reflected in the First Fed |
eral Savings and Loan Association !
here, which registered increases both
for the first half of this year, and
for the entire year, ending June 80.
New mortgage loans written by
First Federal for the first six months
rose from S556,144 during the 1899
period to S87l 005 for the first half
of 1910. The increase in mortgages
from June 80, 1899, to June 80,
1910, was S2,576,567.
Auchincloss. Parker & Redpath
and Johnston. Lemon & Co. were
among the underwriters who par
ticipated in the syndicate offering
new stock of the Newport News
Shipbuilding & Dry Dock Co. which
was oversubscribed the first day.
Baltimore Power Offerings
Public offering was expected to be
made today of the proposed issue of
68,928 shares of Consolidated Gas
Electric Light & Power Co. OF Balti-
mire, Series C per cent cumulative
preferred stock. 500 par value At
nearing before the Public Service
Commission of Maryland it was
stated that Sl04 per share, with ac-
crued dividend would be the offer
ing price. White, Weld & Co. head
the underwriting group. Associated
with White, Weld & Co. in the
underwriting group are the First
Boston Corp, Minsch. Mcneil & Co.,
Inc; Joseph W. Gross & Co., Spen-
Ger Trask & Co., Lee Higginson
Corp, Hartman Ripley & Co., Inc;
Alex Brown & Sons, Mackubin, Legg
& Co.. Baker, Watts & Co., Robert
Garrett & Sons, w. w. Lanahan &
Co. and Stein Bros. & Boyce. Sew
eral Washington firms participated.
Average Income Higher
Mr.. and Mrs. American Consumer
In the first half of 1910 had funds
at the rate of S1.l3 to spend against
81 in the same period of 1899, ac-
cording to Ralph Kenon. secretary
of Investors Syndicate of Mlnneapo-
lis. Since Mr.. and Mrs. Consumer. |
however, had to pay out sl.02 for
living expenditures against 100 in
the first six months of 1899. they
were II cents on the dollar better off |
than they were in the corresponding |
period of a year ago. Their real |
income" was Sill against 81 in the |
first half of 1899.
Better business and therefore |
greater profits he said, resulted |
in higher incomes from investment |
in the first half of this year than
in the similar period of 1889
Investment income, which showed |
the largest gain in the various forms |
of cash income received by Mr. and |
Mrs. Consumer, was at the rate of !
Sl2l in the first six months of 1910, |
against 81 in the like period of last |
year"
The Baltimore & Ohio Railroad |
handled 81 1888 cars of freight dur
ing the week ended August TO- Of
this total 33,758 were loaded on line
and 18, 1870 were received from con-
1iections. This was an increase of |
6.498 over the corresponding week !
of last year, when 45,390 carloads |
were hauled, comprising 29074 load |
ed on line and 1876 received from
connections.
Potomac Electric per cent pre-
ferred sold at ia today on the
Washington Stock Exchange, and
the same compary's 512 per cent
preferred went at the same price.
Personal Mention.
Robert H. Lacey, cashier of Co.
lumbia National Bank, has gone to
Myrtle Beach, S. c.
Thomas J. Norris, manager of the |
H Street Branch of the Bank of |
Commerce & Savings, has left on !
vacation.
J. Thilman Hendrick, senior part
ner of w. B. HibbS & Co. has gone
to Maine for the remainder of the
month.
Paul P Rodler, partner of w. B.
HibbS & Co., returned this week
from an extended vacation in the
Midwest.