Evening star., 1940-04-16
- 208,97O.552 185,214,366
Home Mortgages Decline

Total 1850 2O8.97O.552 185,214366
Home Mortgages Decline.
Home mortgages IN the District
OF Columbia accepted for insurance
by the Federal Housing Administra-
tion during February showed a small
decline for the amount involved in
similar mortgages year ago.
Mortgages accepted for insurance
in February, 1889, numbered 81 and
amounted to s203,6OO, while in
February this year they numbered
80 and totaled $189,6OO.
In the first two months of 1899 these
mortgages numbered Il in Washing
ton and amounted to S413,7 ZOO, the
F. H. A. report says. In January of
this year 80 mortgages were accepted,
involving s224,10O.
Maryland reported a very large
increase over last year. In 1899
mortgages accepted numbered 96
and totaled S457 900, while in Febru-
ary, 1910, they numbered 18l and
involved $773,900. making total
for the two months this year of 3l4
mortgages, amounting to S1,348, 100.
Virginia experienced a slight gain.
A year ago 1874 mortgages were ac-
cepted for total Of $628,8OO, while
in February. 1910. the number was
139 and the amount $669, 700. In the
first two months of the present year
the number reached 278 and the
amount ST 331 900.
The F. H A. reported recently that
IN the District of Columbia mort
cages accepted for insurance in the
full year 1889 totaied 488 on new
homes, amounting to $2,543,40O, and
numbered SO on existing homes, in
volving 1857 300, the figures revealing
that 87.3 per cent of the mortgages
were on new homes.
D. c. Telephones Lead World.
Much interesting comment was
heard in the financial district today
over yesterdays Associated Press re-
port that Washington. with 239 ,668
telephones and San Francisco with
282,00S, continue to lead all large
cities in the world in telephone
development. The figures show that
Washington had 4014 telephones per
100 population and San Francisco,
1882.
Such number of telephones in
relation to population is particularly
striking when compared with the
situation in large European capitals.
Paris had 437,l39 telephones, or
15.45 per 100 inhabitants; Berlin had
599,911, or 1888 per 100 inhabitants.
and Central London had 717.468
telephones, corresponding to 17.81
per 100 population. Greater London
actually contains some 9,500,O0O
people and 1,183,942 telephones,
which is equivalent to 1916 tele-
phones per 100 people, or only about
one-half the telephone density of
New York City
No city in the world had as many
telephones as New York City On
January l, 1889, New York City had
1,632,34o telephones, equivalent to
1926 per cent of its 1888 900 popula-
tion. This exceeds the number of
telephones in all of France and
amounts, in fact, to more than three
times the number of telephones on
the continent of Asia, where one
half the worlds population lives.
S. Par Drug Stock Listed.
The New York Stock Exchange
will admit to listing and trading to-
morrow the new Peoples Drug
Stores, Inc, common stock SIS par
value At the same time the old
Peoples Drug Store common stock,
with no par value, will be dropped
from further dealings. Peoples
Drug will continue to be listed and
traded in on the Washington Stock
Exchange. 1t has been on the local
board for many years, with recent
bids around $39 share.
The New York Stock Exchange
announced today that stockholders
OF the Graham-Paige Motors Corp.
at their annual meeting approved
an increase in authorized common
stock to 100000 from 3.5O0,O00
shares and reduced authorized pre-
ferred stock to 4,444 shares from
10000 shares.
Demand deposits increased ST.
100000 in the fifth Federal Reserve
district during the week ended April
10, the Federal Reserve Board re-
ports.
Net income of the Atlantic Coast
Line r. R. in the first two months
Of this year was equal to 83 cents
per share on the common stock,
against 54 cents year ago.
Variety Store Sales Up.
The Commerce Department re-
ports that variety store sales in
creased during Marcn by about
per cent after allowance is made
for the early date Of Easter and the
normal seasonal increase. The bu-
reau's seasonally adjusted index,
which measures daily average sales
for constant number of stores, ad-
vanced from SO for February to 1O3
for March, figure approximately
per cent above the level of March
Of last year.
Today's Trading on Exchange.
Washington Gas Light common
stock sold on the Washington Ex-
change today at 26, ex-dividend and
ex-rights, 100 shares changing
hands Capital Transit stock ap-
peared on the board at 141a, and 20
shares of Mergenthaler Linotype
moved at ISL. Washington Gas
Light IS remained strong. selling at
1914.
Showing a % per cent increase
over last years first quarter, factory
sales of automobiles and trucks
totaled 1,310,234 in the first three
months this year. Excepting 1929, 1t
was the best first quarter in history.