Evening star., 1941-07-28
D. {. Home Financing
In First Half Of Year
Far Above 1910
Total Is S36,809, 900
In 1872 Mortgages
On Homes in Area
BY HAROLD b. ROGERS.


Home financing in the District of
Columbia during the first six months
of 1941 by all types of mortgage
lenders showed big increase over
the same period in 1910, according
to a report today by economists of |
the Federal Home Loan Bank Board
The total for the first half of this
year was S36 6,809,0G0 in 1912 mort
cages on homes, as compared with
500 9856000 in 6,739 mortgages for
the similar 1910 period
BY types of lenders the number
and amount of home mortgages in
the first half of 194l we're as fol-
lows: Savings and loan assoCia-
tions, 1856 mortgages, Sl6,389 900;
insurance companies, 581 mortgages,
S4,124,000; banks and trust COM
panies, Gal mortgages. S4,385 900;
individuals, 2O6O mortgages So
285.000. and Others" 1,074 mort
cages, S56260 600
Each month the Home Loan Bank
Board's division of research and
statistics complies figures on mort
gage recordings up to $4,000 each
in value. Cooperating in this sur
vey are President o. K. La ROGUE
of the Federal Home Loan Bank
of Winston Salem, savings and
loan executives, the American Title
Association and the Mortgage Bank
ers' Association.
Bank Hours Studied.
Faced with the provisions of the
Wage-Hour Act, and its 4O-hour
week, bank executives are making
a careful study of the effect of the
longer hours adopted by most of the
local banks to accommodate Gov
ernment clerks on the two extra
Government paydays on the Sth and
23rd of each month.
The question was subject of con-
siderable discussion at the regular
Friday luncheon of the D. C.
Bankers Association at the Willard
Hotel, but no concerted action was
agreed to.
The consensus seems to be that
more time is needed to try out the
longer hours by which the banks
as rule stay open until 5 or $50
pm. on the four paydays each
month.
There is considerable difference
OF opinion among the banks as to
what to do. Most of the banks have
adopted the longer hours. Some are
finding that there is little activity
during the later periods in the after
noon.
\ Value Is Questioned.
: One bank official estimated that
1t was hardly worth while to keep
the bank open in the late afternoon
Gust to take care of "stragglers."
many of whom only want to pay
utility bills.
On the other hand another banker
expressed himself as favorable to
the longer hours as an accommoda-
tion to the public and its clientele
: Consideration is being given in
some quarters to an adjustment of
hours to the needs But it is likely
that all will give the situation a
trial for some time before any
changes are made. in order that the
institutions may be of service to
Government employees and the pub
lie.
Attend Acacia Meeting.
/ Washington is represented by the
largest delegation of agents of Aca-
cia Mutual Life Insurance Co. in
a attendance at the national conven-
tion of the William Montgomery
Quality Club and Acacia branch
managers opening today at Hot
Springs, Va.
. Those qualifying from this city
are: J. A. Barbeau. manager; P. B.
Dunbar, unit manager: c. c. Cove,
unit manager; w. j. McCauSland
unit manager: D. M. Aaronson,
G. M Beeton, N. Burns, K. NJ. Con-
ner, w. c. Daniel, J. I. Ford, c. c.
Cove, jr.; G. E. Hacking. E. P.
Hands. H. V. Hayden, H. r. Hardis-
ty. H. j. KameroW, w. B. Matthews,
j. P. Mcmahon, H. R. Nichol. F. S
Pulver. F. B. Rogers, P. L. Rogers. J.
A. Thompson, H. D. Weant, L. Sill
verman, D. w. Swain and R. w.
Winfree.
Financial District Notes.
q NJCOl St ~. dos, VIC BICSIutllJ anu
cashier of Riggs National Bank, has
left on vacation, during which he
plans to play golf in Washington
and vicinity, making several short
trips. He will be away for a month.
Mark Sullivan, jr., and Richard P.
Dunn, of the Office of Auchincloss
Parker 6c Redpath, are spending
their vacations in New England
Edward L. Hillyer. vice president
of Union Trust Co.. spent the week
end at Rehoboth Beach, Del.
Capital Transit Rises.
Capital Transit sold at 1873 on
the Washington Stock Exchange to-
day an increase from the 1875 last
previous sale. Capital Transit stood
at 15l2 bid, but asked prices went
up to 1872.
This was interpreted as reflec-
ton from the optimistic earnings
report filed last week by the Transit
firm for the Public Utilities Commis-
sion. Not only was the June net in
come up ID per cent from 1910 June,
but the six months figures showed !
net income rose from $685., ,226-2O in
1910 to S645, AL 06 in 1871, a gain of
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