Evening star., 1941-07-30
Virginia Bankers
To Attend Session
AT University
Many Speakers Listed
For Conference Set
September 8 to II
BY HAROLD B. ROGERS.

Many bankers in nearby Virginia
plan to attend the Fourth Virginia
Bankers Conference to be held at
the University of Virginia Septem-
Der 8 to IL.
The meeting, sponsored by the
Virginia Bankers Association, State
Banking Department, and the Nc
Intyre School OF Commerce Of the
university is being arranged by
conference committee headed by c.
Francis Cooke, chairman.
The opening address will be de-
livered by DR.. John Lloyd New
comb, president of ths university.
Among other speakers will be DR..
Joseph D. McGoldrick, controller of
the city of New York; DR.. Paul F.
Cadman. economist Of the Amer
lean Bankers Association; Carlisle
r. Davis. assistant vice president
State-Planters Bank and Trust Co,
Richmond, Va; Giles H. Miller, jr.,
cashier of the Culpeper National
Bank, Culpeper, Va; R. T. Marsh,
jr., vice president First and Merch-
ants National Bank, Richmond. Va;
Maxwell G. Wallace, counsel of the
Federal Reserve Bank Of Richmond:
Robert r. West of the University of
NiroiYoio and r11ar1u nthnrS
Virginia home financing during
the first six months of 1941 by all
types of mortgage lenders in that
State amounted to S42074000, with
a total of 17,0l7 mortgages on homes
being recorded, according to econo-
mists of the Federal Home Loan
Bank Board. This compared with
14,963, home mortgages amounting
TO S34 .55l 900 in the first half of
1910. BY types of lenders the num-
Der and amount of home mortgages
In the first six months of l94l in
that State were as follows: Savings
and loan associations 5903, 13,305,-
900: insurance companies 638, 81
Tol 900: banks and trust companies
3434, S10,172,000; individuals 4,848,
sl0,722 900; others 2,l94 S5,084,O00
Increase Advertising Budgets.
Savings and loan associations
have increased their expenditures
for advertising and other business
promotion by 13 per cent during the
last three years. according to the
August issue of the Federal Home
Loan Bank review.
The estimate is based on reports
from 468 member thrift and home
financing institutions of the Fed
eral Home Loan Bank system for
assets represent almost one-fourth
of the systems membership.
"Although the amount of money
spent by these associations for pro-
motional purposes has shown
steady increase during the past
three years" say the review. this
gain has barely been in proportion
to the added operating income re-
sulting from larger asset holdings"
Annual business promotion eX-
penditures of these associations rose
from s1200,000 in 1888 to almost
S1,400000 in the past year, or an
increase of 176 per cent, an average
increase of about $3.50, for each of
the institutions.
Financial District Notes.
National Bank of Washington
ttock sold on the Washington Stock
Exchange today in a block of eight
shares at 118 A. T. & T. rights |
rhanged hands at l 832d as COM
pared with 9-32d prior sale. Cap
ital Traction first SIS went at 1043s, |
and Washington Gas IS at 1913.
Francis G.. Addison, jr., president |
of Security Savings & Commercial
Bank, is resting at his farm at |
Landoyer, Md, following a recent |
tndisposition, and is expecting to be |
back at his desk the first part of
next week.
George M. Fisher, vice president
of Washington Loan & Trust Co, is
expected to return Monday from va
cation at Atlantic City.
J. H. Beale. assistant cashier of
Eecurity Savings & Commercial
Bank, is vacationing at Ocean City,
Md.