Evening star., 1941-08-17
Building, Loan Assets Juml

Building, Loan Assets Jump.
Combined assets of Washingtons
building and loan associations again
reached a new peak on July 81, F.
Wilson Camp, secretary OF the Dis
trict of Columbia Building and Loan
League, reported last night. Assets
totaled sl66,281, TAO, compared with
$149,9 ,936,561 in July. 1910, he said.
The net increase over June of this
year was $1,634,207.
Loans on real estate, which were
$140, ,384,566 last year, have risen to
S156,603,l6 while the gain during
the past 80 days was s2,547 $50. Re-
serves and undivided profits in
creased from 11,352,33 last year to
$12,891 ,592, or a gain of S1,539,254.
A total of S4,971 400 in approved
mortgage loans was registered. This
placed the month second only to
May so far this year. Loans ad-
vanced in July, 1910, totaled
$3,449,5 ,584.
Of the mortgage loans granted,
$1,732,900 was for new houses and
$1,735, 100 for other construction
purposes, with $1,502 300 for other
uses. New accounts are per cent
higher than a year ago. with closed
accounts about the same, the Camp
review concludes.
Acacia Insurance Mounts.
William Montgomery, president of
the Acacia Mutual Life Insurance
Co., last night reported So per cent
increase in production for July over
the same month last year.
Total insurance in force on July
81 amounted to S433 Isl $50, COM
pared with S418,071,708 a year ago.
Mr.. Montgomery also announced
that in the first seven months Of
this year aggregate insurance in
force increased by,$11 500, 900, an i'm
provement of 81 per cent over the
like 1910 period.
The company's assets reached
new high total in July of S97 ,582,-
900, compared with $50, ,748, 900 in the
same month year ago.
All these gains are particularly
noteworthy at this time, as they
reflect very clearly the immense up
ward swing in all lines of trade and
industry as the national defense
effort moves into high gear, Mr..
Montgomery asserted.
ID. c. Insurance Sales of.
New life insurance written in
Washington in July by leading COM
panies totaled s5,269,O00 and was 7
per cent under the volume reported
for July year ago, the Life Insur-
snce Research Bureau, at Hartford,
announced yesterday.
In the first seven months of this
year, however, sales reached $39,-
$4,000. a gain of per cent over the
like period year ago. Sales in the
seven months were just even with
the five-year average.
The same review states that the
average new policy written in the
Capital in the first six months of
this year was S2,520, against S2,331 in
the full year 1910. This was the
highest average for any section of
the country and compares with
national average of only 1853.
Maryland's average was $2,214 and
Virginia's, S2,338.
Heard in Financial District.
Sidney F. Taliaferro, vice presi-
dent and trust officer of the Riggs
National Bank, is passing his vaca-
ton in New England. H. T. BisSelle,
another vice president of the same
Institution, starts his vacation to-
morrow, part of which he will spend
In New York City.
c. Gay Harrell, president Of CO.
tumbia Federal Savings & Loan As
sociation, has returned from vaca-
ton spent at Atlantic City.
John M. Christie, assistant CASH
Ter of Riggs National and president
of Washington Chapter, American
Institute of Banking, has gone to
Northern Maine for a vacation.
Harry G. Meem, president Of the
Washington Loan & Trust Co., is
having a most enjoyable outing at
Colorado Springs, according to word
received at the bank.
Francis J. Hayes, assistant treas
urer of the Enterprise Building As
sociation, will leave Washington
this week for a vacation trip to
Florida and Cuba.
Mayf1ower Hotel Corp. IS, which
advanced II full points during July,
losed the week with 1864 bid and