Evening star., 1941-03-26
D. {. Banks Continue
To Handle Many
Title | Loans
S6,259,47o Grunted
Under Amendment
Of July, 1889
BY EDWARD C. STOlyE.

der the Federal Housing Act, fol-
repairs, alterations and other prop
erty improvements, it was learned
today at the office of the District
Bankers Association. The same is
true of Title n loans.
Up to March |. Title I loans
made by lending institutions whose
head offices are located in the Dis
trict of Columbia, on properties
In or outside of the District. un-
der the July 1889 amendment,
numbered 6,5l2 and amounted to
s6.259479
Similar loans under Title I on
properties located in the District
only, up to March /. numbered 4.8l2
and amounted to S2.080,167 today's
report shows.
Loans since the beginning of the
act, up to March l, numbered 1881,
and reached the very substantial
total of S8,264967. the survey adds.
Title II mortgage loans since the
beginning of the act, up to January
81, numbered 2.226 for a total of
Sl3.533,850, the Washington report
reveals,
Contracts Up $4,000, 900.
Private ownership was respon-
sible for most of the construction
contract valuation in the Washing
uary and February. The level was
more than S10000000 higher than
il was during the first two months
Of 1910 and was ahead of the con-
tracts attributed to public owner
ship by about Sl3.O00OO0. H. A.
Johns, manager of Dodge Reports,
announced today.
Private ownership was credited
with contracts amounting to S19,-
O96.000 during the first two months
in this year. A year ago the cor
responding total was S8,730,000,
ContraSted with the private ac-
tivity, publicly owned work had a
contract valuation of 5000 900 in
the tWo-month period. The corre-
spending 1910 total was S9977,000
The combined total for both pri-
Vately and publicly owned construc-
tion in the January and February
cludes a huge increase over S18.-
100000, the total in l940 Mr.. Johns
said.
Stockholders on Increase.
Since the first quarter of 1929, ac-
cording to the Exchange Magazine,
the total number of common stock
holders in so typical corporations
listed on the New York Stock Ex-
change has increased from l,647 $50
to 1858, ,644
The companies referred to are not
hand-picked group of growth
corporations selected with benefit
of hindsight. The list includes many
issues which have been traded on the
exchange ever since the turn of the
century, if not before Examples are
United States Steel, New York Gen.
tral, General Electric and American
Telephone & Telegraph-compartes
which had approached their present
size by 1929.
If the financial history of the so
companies cited is any criterion
and the experience of the exchanges
statistical department indicates that
It iS-then many more people own
corporate securities today than in
the boom times of 1929.
Sections Plan Joint Session.
The flduciaries and auditors sec
tions of the District Bankers Associ-
alton will hold Joint dinner meet
ing tomorrow evening at the May
flower Hotel starting at $50. Henry
K. Dierkoph, f1duciaries chairman,
said today. The auditors are to be
guests of the trust group, Chairman
William B. Mehler predicting large
attendance Of the figure experts.
The guest speaker will be George
Pausch, vice president of the Safe
Deposit & Trust Co. of Baltimore.
Educated in the public schools of
Baltimore, he is a graduate of both
Johns Hopkins and the University of
Maryland. incidentally, he is a
brother-in-la of Alfred G. Neal,
president of the Potomac Electric
Power Co. His subject is Trust De-
partment Cost Analysis"
Werner Addresses Controllers.
The March meeting of the District
of Columbia Control of the Control
lers Institute of America was held
last evening at the Carlton Hotel,
starting with dinner at $50. Prof.
Arthur A. Werner of the Foreign
Service School of Georgetown Uni
versity was the principal speaker, his
subject being National Defense and
What 1t Means"
F. H. Kenworthy of the Chesa-
peake & Potomac Telephone Co.,
president of the local control, pre-
sided.
Bid and Asked Prices Quoted.
Washington customers in New
York Stock Exchange Offices are
being given new boardroom service.
Bid and offered quotations are now
being sent on the translux during
periods when actual sales are COM
ing along slowly. In dull markets
recently, the tape has stopped con-
stantly. Under the new plan. the
latest bid and asked quotations on
inactive issues are worked in be-
tween sales.
Customers like the service. II the
stocks they are carrying do not
appear in actual sales, they are glad
to know how the bid and offered
quotations stand. The service will
be continued until another period
Of more lively markets comes along.
Today's Trading on Exchange.
Trading on the Washington Stock
Exchange today opened with 100
shares of National Mortgage & In
vestment preferred selling at 43s,
unchanged.
Potomac Electric Power 512 per
cent preferred stock appeared on the
board in a small sale at 115, of
fractionally from the last previous
transfer.
Mergenthaler Linotype figured in
q 2O-share sale at 21A, also off
fractionally. Bonds were neglected
Prince Georges Bank Trust Co.
stock was added to the list being
quoted ex-dividend.