Evening star., 1941-12-28
New Record SET
By Building,
Loan Assets
"a D. 6. Associations
Report Sl71,344,635
TotuI November 30
BY EDWARD c. STONE.


Combined assets of the "a asso-
Citations making up the District of
Columbia Building and Loan
League had risen to $171 .344 635 on
November 80. a new all-time high
mark, Secretary F. Wilson Camp
announced yesterday. A year ago
assets stood at S155 ,546, ,82l. the in
crease during the year being SIS
1884 of which $1,658,887 was in
November.
Mortgage loans outstanding on
November 30 last year totaled Sl46.-
of this year the amount had climbed
to Sl6l .569792 Share money de-
posits paced the rise in real estate
loans, increasing from S136.056 166
in 1940 to $148 270,025 today or a
net gain of s12,211,859. Rejecting
the desire of the member units to
build up their surplus accounts, an
increase of S2,715 ,653 is noted in
this item Last year surplus and
reserves stood at $4,000, ,464; now,
s13,616,117J
Although applications for con-
struction loans are expected to
dwindle from now on, the volume
executed last month compared IA
vorably with other months. Total
mortgage loans approved amounted
to 81 4758 ,952, which definitely places
November among the leading
months in loan activity.
Coincident with the emphasis
placed on the sale Of Defense bonds
by the member groups, a marked
increase is noted in the closeoutS
from shareholders, indicating that
many people are tapping their re-
serves in order to purchase these
securities.
Loan leaders here feel that, with
the market for construction mort
cages drying up, the diverting of
savings share accounts to Govern
ment bonds will offset this loss. as
it will absorb money that would
otherwise be idle
Capital Store Sales Climb.
Department store sales in Wash
ington, ending December 20, ran II
per cent ahead of the similar week
a year ago. the Federal Reserve
Bank of Richmond reported yester-
day. the gain being exactly the same
as in the previous week compared
with last year.
At the same time sales in the
Capital were 81 per cent ahead of
the previous week this year. In the
four weeks ending December 20,
sales we're II per cent better than
in the like period in 1910, the survey
showed This figure covering four
week periods has been decreasing in
the last three or four weeks.
The gain in retail trade at the end
Of November was 20 per cent ahead
of last year. The lower figures in
the first three weeks of December
indicate that the full years gain
will be under rather than over, 20
per cent. the yearly figure awaiting
reports on trade volumes during the
final Christmas rush.
Sales in the whole fifth district
for the week ended December 20
were IA per cent better than last
year. 81 per cent better than in the
previous week this year and up II
per cent in the four-Week period.
Exchange Records Broken.
Records for Saturday trading on
the Washington Stock Exchange
over a period of many years were
smashed yesterday when lob
shares changed hands.
Washington Gas Light common
was the most active stock on the
board. Among the first sales were
three 10O-Share lots at 14l2, un-
changed after call, 100 more sold
at the same price, so advanced to
1474, the market closing with 40
share sale at 141a.
Capital Transit opened with 1875
shares moving at 1412, ex-dividend,
followed by a 50-share transfer at
l4ss. Railway and Electric pre-
ferred was strong, "a and 80 share
lots commanding 11412. Mergen-
thaler Linotype came out on a 100
share sale at 261a. unchanged.
Prince Georges Bank & Trust Co.
recorded a 15-share sale at %, un-
changed On Friday 100 shares Of
this stock were sold at %, the first
sale on the exchange in two years.
In the bond division, Capital
Traction IS closed the week with
81 900 transfer at 103.
Banking LegiSIation Halted
Banking legislation has been
pushed into the background. No &C
tion has been taken on any pending
banking bills and none is likely for
some time. Neither is there likeli-
hood of new legislation being intro
duced unless it has some direct re-
iationship to the war effort, In the
opinion of banking leaders.
Banking, official organ of the A.
3. A.. announces that business has
turned up again after a slight lull in
November. In a recent Nationwide
poll, 70 per cent of the flnanciers
consulted report that business ac-
tivity Is on the increase. The de-
fense program Is given as the rea-
son.
Treasury's Note Plans.
The Treasury announces that the
coming issue of Treasury tax savings
notes series A and series B, dated
January /, 1912. and due January !,
1914. as we'll as those heretofore
issued, will be acceptable at par and
accured interest not only in payment
of Federal income taxes but may be
presented in payment of estate and
gift taxes as well.
Beginning in January, Defense
savings stamps will be accepted at
their face value in lieu of cash as
payment for notes. the Treasury
also announced. This provision per-
mits taxpayers to accumulate De-
fense savings stamps and present
them in payment of tax savings
notes IN any and all denominations.
Junior Bankers Plan Meeting.
The mid-year educational dinner
meeting of Washington Chapter,
American Institute of Banking, will
be held at the Continental Hotel on
CO