Evening star., 1940-08-07
Interstate BuiIdinq
Celebrates Eighth
Anniversary
Associations Assets
Exceed $1,000, 900,
Secretary Announces
BY HAROLD b. ROGERS.

The Interstate Building Associa-
ton, which this week is celebrating
the eighth anniversary of its incor-
poration, has assets which have ex-
ceeded S3,000,000, it was announced
today by Edward K. Jones, secre-
tary.
Loans on real estate have risen
to S2,578,000, a new high in the
association history. The assccia-
ton is member Of the Federal
Savings and Loan Insurance Corp.
an inStrumentality of the Govern
ment, which insures share accounts
up to s5,000 1t also is a member
of the District of Columbia BUILD
ang and Loan League, the United
States Saving and Loan League and
the Federal Home Loan Bank
System.
Officers are John L. Weaver,
president; Clarence Dodge ard
Earl M. Macintosh. vice presidents:
Martin R. West, treasurer; Edward
K. Jones, secretary, and LaWton E.
1nabinet, assistant secretary.
III. o. L. c. Reports on CAPITAL.
The Home Owners Loan Corp, in
reporting the most active real estate
market in its seven-year history,
disclosed that here in Washington
250 loans on homes as of June 80
had been paid in full, in the amount
OF S1,375,000. Remaining local &C
counts on the corporations books
Include Q1 i,,
satisfactory condition" The prop
erty-owning situation here, it was
said, is practically solved, the cor
poration retaining only 10 homes,
with 216 having been sold.
Throughout the country, it was
announced, surveys show that almost
all of the 10000 homes the COR
poration has sold have passed di-
rectly into the hands of actual
home seekers.
The Board of Directors of Lincoln
National Bank recently adopted a
resolution extending heartfelt SYM
pathy' to the family of Albert S.
Galley, its executive vice president,
on account of the death of his
brother, H. Prescott Galley, former
president of the National Savings
& Trust Co.
Praised as Leader.
The late Mr.. Galley was praised
as "a leader of the bar of the courts
in this jurisdiction, having been
president of the District of Columbia
Bar Association; also a leader in the
banking field, being president of the
National Savings & Trust Co. until
retirement due to ill-health; a ma
tive of the District of Columbia and
always civic leader"
This community" continued the
resolution, has lost an able execu-
tive, a professional man of highest
Integrity, vision and sound business
judgment" The resolution also
recorded sorrow at his passing and
"our admiration for his fine quail
ties OF mind and heart, our sense
of loss in the death of man who
was a most delightful companion
and among the foremost members
OF our local banking field"
The resolution was signed py Mel
VII y. EaAen ana FREQ A. Smith,
a committee of the board.
j. Leon Board, who has been as
sociated with the Metropolitan Life
Insurance Co. here for six years, has
been appointed local agent for the
Columbus Mutual Life Insurance
Co. of Columbus Ohio. with Offices
in the woodward Building. Before
coming to Washington Mr.. Board
was with the Metropolitan Company
in Wilmington, Del, and in Balti-
more.
John A. Reilly, president of Second
National Bank, plans to leave Fri
day for few days with his family
at Ocean City, N. j.
Gerald E. Keene, assistant cashier
OF the Second National Bank, at its
Seventh Street Office, has returned
from vacation in Maine
The Washington Stock Exchange
was more active today than in
weeks. Lincoln Service common
sold at 18 and IT, Capital Traction
first IS went at 1929, and its stock
sold 1915. Washington Gas Light
common sold at 2512, and the COM
nanU'c &c q 1OE