Evening star., 1941-10-15
kewRecordsR Reported
By Home Loan Bank
OF Winsfon-SaIem
Looms of 407 Members
TotoI S1e4,494,0 900
In Fiscal Year
By EDWARD c. STONE.

Federal Home Loan Bank OF Win
ston-Salem reported today through
President o. K. La Rogue that its
407 member building and loan as
sociations and nine insurance COM
panies in Alabama, District OF CO.
lumbia, Florida, Georgia, Maryland
North and South Carolina and Vir-
ginia are constantly establishing
new loan records. These institutions
are now granting 38 per cent of the
home loans made in this territory,
he said.
During the fiscal year 194l men,
ber institutions of the Winston-S -Sa-
lem Bank made home loans total
ing s164, $4,000, gain of 20 per
cent over the previous year, Mr.. La
ROGUE reported. Investments of the
public held in these associations
showed a combined gain of nearly
81 per cent at the latest reporting
date, much higher than the national
average for the Home Loan Bank
System.
THE continued growth in size OF
these institutions is shown In the
fiscal wear end total of their COM
bined assets, which reached S672,-
o48 900, as compared with S626,89l,- =
600 a year ago." said Mr.. La Rogue.
From its establishment up to Sep
tember 80 the Winston-Salem bank
had advanced SIT, ,498,539 to its
member institutions, more than any
of the other Home Loan banks. Re-
pavments of 95,497,94l leave S22,-
600 .598 as outstanding credits in use
bv the members. At the end of Sep
tember assets of the WinSton-Salem
bank amounted to $31 ,681 ,215. Sur
plus and undivided profits totaled
S1,682,173.
Since its organization the bank
has paid total dividends OF Sl,Ooo,-
$50 to its members and to the United
States Government, owner OF Its
capital stock.
Loan Group Elects Officers.
F. Wilson Camp, who was re-
elected secretary and treasurer OF
the District Building e. Loan Asso-
citation at the annual meeting OF
the shareholders last night, reported
the past year as the best on record.
Assets now stand at S2.816,099 A, an
increase of S750,000 over the CORE
spending period year ago.
All officers and directors were re-
elected. George A. Baker continues
as president; Henry Gilligan, vice
president and attorney, and Dom
B. Thomas, assistant secretary
treasurer. Directors are John H.
Davis, Charles H. Frame, William
P. Friel, Warren w. Grimes, Otis H.
johnson, Harold Austin Wood and
Messrs. Baker, Camp and Gilligan.
The association is 80 years old, a
member of the Federal Home Loan
Bank. Federal Savings & Loan In
surance Corp, United States Savings
s e. Loan League and District of Co
lumbia Building & Loan League, Mr..
Camp being secretary of that latter
organization.
Trust Company Votes Dividend.
Directors of the National Savings
& Trust Co. have declared the reg
ular quarterly dividend of 81 per
share, payable November l to stock
holders of record october %, Vice
President David Bornet announced
today.
Net earnings of the Southern
Railway in the first eight months
of this year were equal to S7.05
per share on the common stock,
scompared with S252 a share on the
, preferred stock in the like 1910
period.
Net sales of American Stores Co.
In September were % per cent ahead
of the same month year ago and
! in the first nine months of 1941 were
/ UP 16 per cent, it was announced
today.
Thousands of Washington holders
of American Telephone stock re-
/ ceived the regular quarterly divi-
dend of S225 per share in the morn
ing mail today. The company re-
! ported third-quarter earnings Of
$2.41 q share, against $238 a year
! ago.
g Net income of the Atlantic Coast
! Line Railroad for the first eight
months of 1941 amounted to S877
per share on the common stock,
compared with loss in the same
period year ago.
:, Stock Market Lag AnalyZed.
In his monthly business review,
received here today, Henry H. Hell
mann, executive manager of the
National Association of Credit Men,
says of the stock market:
Current claims on earnings, i'm
pediments to the development of
reserves to meet obligations and
contingencies, changing aspects of
production and distribution, the i'm
possibility of charting a course clear
ly at present or in the immediate
future, increasing governmental su-
peryiSion which is becoming tanta-
mount to control, the relationship
of business and government after
this emergency has passed, the CO.
ordination of our domestic economy
with world conditions and needs
these are only partial catalogue
of the broad issues that must be
met promptly and courageouSly.
But they provide sufficient an
sswer to any queries as to why the
stock markets reactions continue to
belle the War-inspired boom that is
everywhere else palpably evident"
Today's Trading on Exchange.
Six consecutive 10-Share sales OF
,Firemen's Insurance Co. stock at "a
opened trading on the Washington
Stock Exchange today. The price
was the same as recorded during
several sales yesterday.
Washington Gas Light preferred
stock appeared on the board today
in a small transfer at 106, un-
changed from other recent sales.
Lanston Monotype registered a
sale of Is shares at %, around recent
levels. Bonds were entirely neg
lected.
Heard in Financial District.
Earle w. Sapp, general agent OF
the New England Mutual Life Insur-
ance Co., will be the guest speaker
at the first meeting of the season