Evening star., 1940-05-09
Title | F. H. A. Loans
TN District Compare
We'll With Year Ago
Insured Mortgages
Also Show Lively
Demand in Copitol
BY EDWARD c. STONE.

r Loans made by banks and other
lending institutions under title I of
the Federal Housing Act are running
about the same in number and
amount as they did at this time last
year, the District Bankers Associa-
Ition reported today.
|; Since the Federal Housing Act
amendments went into effect in
IJuly, 1899, banks and other lending
institutions located in washington,
Through March 81, 1910, had granted
1882 title I Federal Housing Admin
Iistration loans, amounting in the
aggregate to $879, ,804.99.
/ During the same period title I
r. H. A. loans made on District Of
columbia property by banks and
Iother lending institutions not neces-
isarily located in the District, num-
bered 1,727 and amounted to $780,
i12768.
From the time that title II F. H.
A. loans first went into effect, to the
end of March, this year, insured
mortgages accepted on District of
Columbia property numbered 1,755
and amounted to $11,004950.
I Cumulative figures for the whole
country show that up to March 81,
552,956 insured mortgage loans had
been made, for an aggregate total of
$2,356, ,539,050.
Factors Retarding Market.
This weeks market letter put out
by Auchincloss, Parker g. Redpath,
New York Stock Exchange firm with
the head Office in washington,
touches on reasons why the stock
market does not go up and why
stocks have not responded to high
earnings and favorable dividends.
The market letter states that
stocks don't go up on what they are
worth, which is relative and un-
certain matter at best, nor on what
they earn and pay. Stocks move on
supply demand relationships and
changes in them A study Of supply
and demand factors shows why ex-
pectations have been restrained, the
analysis says.
purchases of United States secur-
tiles have been very vital factors in
recent years in both advances and
declines. Foreigners are selling this
year. While it has been handled
very carefully and selectively, ap-
pearing only on strength, yet it is
there to satisfy whatever demand
should come in.
The review says 1t is harder to
point to potential buyers than to
potential sellers. The writer be-
lieves that investment trusts have
about all the investments they can
carry. Buying must come largely
from the general public, institutional
investors, insurance companies, en-
dowments, ETC., and from speculators.
Major uncertainties right now are
preventing investors from materially
increasing the percentage of funds
employed, the review states. 81.
Bank Officers Reelected.
Stockholders of the Anacostia
Bank reelected these directors at
their annual meeting yesterday
afternoon: J. F. Campbell, R. U.
Cooper, Frank M. Dent, George S.
King, w. L. Koontz, George S. Maier,
j. r. Pyles. Ernest j. Reed, Elmer
M. Smith, L. w. Thompson, Robert
Thompson and Irving Yochelson.
The directors organized at once
by re-electing j. F. Campbell, pres
tdent; w. L. Koontz, vice president
and cashier; L. w. Thompson, vice
president; Clark c. Smuck, w. w.
Young and Allen H. Cannon, as
sistant cashiers, and George C.
Gertman, attorney.
It was announced that the bank
had enjoyed one of the best years
in its history. Deposits gained
about 100000.
Institute Election Today.
Members of Washington Chapter,
American Institute of Banking, will
elect officers for the coming admin
tstrative year late today. The polls
open at o'clock at institute head
quarters in the American Security
Building and close in the evening.
Some spirited contests were fore
cast, although the head of the ticket
and other top Offices have only one
candidate. Edward NJ Blaiklock,
Washington Loan & Trust Co., is
expected to move into the presi-
dency.
One of the contests is for treas
urer, the candidate being James B.
Ahalt, City Bank, and Frederick A.
Daum, Bank of Commerce &
Savings.
For chief consul there are also
two candidates, George A. 'Gallaher,
Lincoln National, and Neal w. Wells,
National Savings & Trust co.
Another interesting contest is for
membership on the Board of Gov
ernors, seven candidates having
been nominated, with four to be
elected.
In this contest are Herbert, D.
Lawson, Washington Loan & Trust
Co.; Myrtle P. Lewis, Liberty Ma
tional; William NJ Mcclure, Nc
Lachlen Bank; Stephen o. Porter,
Riggs National; Walton L. Sander
son, Hamilton National; Paul j.
0EltI6l, faIllcllCdI OCSu11Gy CG IL uoC
Co., and John E. Wilson, Morris
Plan Bank.
The campaign has developed lot
of good -natured rivalry, and to-
nights results are awaited with
keen interest.
Heard in Financial District.
James E. Dulin, jr, chairman of
the committee arranging for the
District Bankers Association spring
dinner at the Columbia Country
Club, has fine program under way.
It was limited today that there will
be no heavy speeches. There is
every indication of capacity at
tendance.
Thomas G. Boushall, president of
the Morris Plan Bank of Virginia
reelected a director in the United
e