Evening star., 1941-07-29
S34,735,OOO Loaned
In Six Months for
Maryland Homes
l2,506 Mortgages Are
Involved in Financing,
u. S. Report Shows
BY HAROLD b. ROGERS.

ItuGl dl r1UlIlG LUdIl kodIlh bOdIu.
This compared with 1872 home
mortgages amounting to S28,836 900
in the first half OF 1910.
BY types of lenders the number
and amount of home mortgages IN
the first six months Of 194l in the
nearby State were as follows:
Savings and loan associations,
6.882 mortgages, Sl8,221 900; insur-
ance companies, 235 mortgages, ST.
100000; banks and trust companies,
1893 MORTGAGES. S5.246,O00; mutual
savings banks. 28O mortgages, ST.
O34 900. individuals, 2.5l9 mortgages,
S5785 .000 others, 997 mortgages, $3,-
10000.
Arnold Addresses Credit Group.
The Southern Maryland Produc-
ton Credit Association of Upper
Marlboro sent greetings to a gather
ing at Newton, IoVa, last Wednes-
day. in celebration Of the lending
of the second billionth dollar by
these short-term co-operauves.
This was announced by c. L. De
Harte, ecretary-treasurer Of the
MARYLAND organization, who said the
message read:
"On behalf of the Southern Mary
land Production Credit Association,
which has loaned Sl,059158 of the
$4,000 0O0 900 total TO farmer MEM
bers in this section in the last seven
pnd one-half wears, we congratulate
The Newton Production Credit ASso-
citation. We are glad to join with
them in their observance OF an
important milestone in the history
Of cooperative credit
Principal address at the occasion
mas delivered by C. R. Arnold OF
This city. production credit commits
tioner of the Farm Credit Admins
tratiOn.
Wage Decision Against Bank.
The first completed legal action
brought BY the Labor Department S
wage and hour division against any
bank resulted in payment of resu-
tuition to five employees Of the First
National Bank Of St. Charles, Mimi,
It was reported to Gen. Philip b.
Fleming. administrator Of the wage
and hour division.
PAYMENT was made under the
terms of a consent decree. signed
by Judge Matthew NJ. joyce in the
United States District Court in Min
reapolis on July 8, permanently en-
Joining the firm from further viola
tions of the Fair Labor Standards
Act. Judgment was entered after
Frank j. Kramer, president of the
bank. waived defense TO complaint
filed by Donald M Murtha, regional
attorney for the division. which
charged that the firm had failed to
comply with the overtime provisions
of the law since it became effective
in October. 1888. and had kept in
accurate and inadequate records Of
hours worked and pay received by
its employees While the total amount
of restitution involved was only S213,
this case was said to be significant
as an action based on the interpre-
tatiOn that banks. whether large or
email, are engaged in interstate
commerce within the meaning OF the
law
The firm has displayed a CO.
operative attitude in promptly COM
putting and making restitution" Gen
Fleming said. and has given as
surance of future compliance"
In Charleston. w. Va, a contested
action is pending against the Ma
tional Bank of Commerce of that
city. In this case, too. only the
overtime and record keeping pro-
visions of the act are involved. The
division is seeking an injunction to
prevent further violations. Hear
ings were held by the United States
District Court in Charleston on May
E and 7, and both parties to the
action are engaged in preparing
written briefs.
r. & o. CarlOadingS.
The Baltimore e. Ohio Railroad.
In a report today, shows a big in
crease in car loadings. For the week
ended July 26 1941, the road handled
66,799 cars, including 43,510 loaded
on line and 23289 received from con-
nectiOns, showing an increase of
1892 cars handled over the same
week of last year. when the total was
49,867. comprising 32141 loaded on
line and 17726 received from con-
nectionS.
An increase of 430 cars was also
shown over the preceding week che
week ended July 19). when the total
was 5000 consisting Of 1914
loaded on line and 22,455 received
from connections, For the CORE
spending week in the year 1880 the
total was 63,349. of which 42123
were loaded on line and 21.226 re-
ceived from connections.
Financial District Notes.
H. T Bisselle, vice president Of
Riggs National Bank, has returned
from a week at Eaglesmere. Pa.
T. Baker Robinson, head of the
firm of Robinson. Rohrbaugh q
Lukens, investment bankers, and
Charles w. Fitzgerald. assistant
trust officer of National Savings &
1 / uSU w. lldNt SOllC W SoIiclbcl 4OI
a fishing and golf expedition at
Parry Sound. Ontaria.
H. G. Lauten, assistant trust off,
Ger of National Savings &, Trust Co.,
is on vacation hunting and fishing
in nearby areas.
George H. O'Connor, president and
title officer of the District, the
Washington and the Lawyers Title
Insurance Companies. is receiving
congratulations through the finan-
cial district for his victory or draw
in the singing contest at Philadel-
phia recently. where he competed
with Billy Armstrong, Well-known
singer there.
Capital Transit stock sold at 1872
today on the Washington Stock EX-
change, down from 157s figure of
yesterdays sale. Capital Traction
first SIS sold at 104 ,, up from 104
last sale Potomac Electric 512 per
cent preferred went at 115i2, as COM
pared to last prior sale of lisa.