Evening star., 1941-03-21
Capital Bank Loans
Show Expansion on
Broad Front
Auto and Personal
Totals Rise With
Defense Volume
BY EDWARD c. STONE,

BY EDWARD c. STONE.
Following reports by Capital
banks that loans for national de-
fense have increased notably, both
In number and amount, bank Off
cials said today that other loans
also are showing a considerable in
crease.
Banks handling automobile loans
report an especially large number of
such loans recently. The demand for
automobile money Is said to be due
to fears that new machines may
be hard to obtain later in the year.
Demands for personal loans have
also displayed an upward tendency.
In Washington, however, the de-
mand for regular commercial loans
has changed very little in recent
weeks. Money for property repairs
and alterations is being borrowed
at the banks in substantial amounts.
Nationally, the demand for COM
mercial loans continues on the in
crease, according to the latest re-
view by the Federal Reserve Board,
which covers the first half of
March. AS result of increased
loans and investments, bank de-
posits have been showing marked |
advance, the same report says.
Building and loan associations in
Washington report a steady gain
In loans for real estate financing, !
compared with the like 1910 period, |
a majority of these funds going |
into new homes.
Houston Pledges Bank Support.
The Nations $4,000 banks will /
throw their full support behind the
Governments plans for national de-
fense financing, P. D. Houston, pres
ident of the American Bankers AS
sociation, declared today at the !
regional banking conference in
Louisville.
"The Nations bankers have an |
opportunity to be of great service to |
the country in the coming financial |
effort" Mr.. Houston declared. This |
will be a nationwide job as funda-
mental to our Nations purpose as
the production of planes and tanks |
and guns.
I'm financing a stupendous pro-
gram like this, the Government
must do more than find billions of
dollars. 1t must find them in such
a way as to safeguard this country
against the dangers of imitation. To
do this, 1t must draw upon the real
and actually accumulated savings of
the people and spread the financing
into every nook and Granny of the
Nation.
"It must also find the dollars Mr..
Houston continued, "in such way
that millions upon millions of
American citizens will have a sense
Of participation in the defense of our
country"
Business Scores Sharp Gains.
Charles Delmar, president of the
Lincoln Service Corp, industrial
banking firm, told stockholders at
the annual meeting yesterday that
net earnings of the company in 1910
increased SIS per cent over 1889 and
% per cent in volume Of business in
1910 over 1899.
Robert P Mulock, elected vice
president of the company, was for
merly supervision director of the
Beneficial Industrial Loan Corp, in
charge of 180 Offices of that organi-
zation located in the eastern and
southern area of the United States
and in Canada He had been con-
nected with the corporation for IT
years.
Other officers elected for the COM
Ing year include Charles Delmar,
president; Francis J. Crilley vice
president; Oscar c. Mitchell, secre-
tary and treasurer, and Thornton
w. Burnet, assistant secretary and
assistant treasurer.
Columbia Votes Dividends.
Directors of the Columbia National
Bank, at the March meeting yester-
day, declared dividend of SO per
share on the outstanding stock,
President Frank j. Stryker an
nounced today. The dividend is
payable as follows:
One dollar and fifty cents to stock
holders of record March "a, payable
April !, and s150 per share to stock
holders of record June %, payable
on July /.
The Federal Reserve Board an
nounced today that department store
sales in the fifth district from jan
uary to March Is were IA per cent
ahead of the like period in 1910,
the best record in the IL districts.
The national gain was per cent.
Banks Offer Bond Sale Aid.
Morris Plan banks and companies
throughout the Nation have prof.
fered their services to the United
States Treasury Department for
cooperation in the marketing of de-
fense bonds, Richard H. Stout. pres
ident of the Morris Plan Bankers
Association, announced today.
There are SO Morris Plan institu-
tions, locally owned and operated
In 81 States and the District of
Columbia, Mr.. Stout said. These
number approximately 100 separate
Offices.
Today's Trading on Exchange.
Trading on the Washington Stock
Exchange today was confined to
Garfinckel common stock, which
figured in small lot at 1919, up
one-eighth from the last previous
sale.
The one topic of conversation to-
day In Washington banks was the
coming sale of huge amounts of
Government securities for defense
purposes. Many bankers recalled
vividly the days of the World War
when Liberty bonds were sold in
such great numbers. From the
Richmond Reserve Bank came
full description of the new issues.
b. g. o. Revenues Mount.
Gross revenues of the Baltimore
d Ohio Railroad in February
amounted to 15,432 900, an increase
of 21.27 per cent over February, 1910,
President Daniel Willard reported at
the conclusion of the monthly meet
ing.
After deductions for taxes and
y~x,fx AR yNi11ord cai5 tIot not on