Evening star., 1941-07-17
Real Estate Loans
In Capital Banks
Show Big Gains
Climb to S54,885, 900
Against S48,726,000
On June 30, lo40
By HAROLD b. ROGERS.

Real estate loans OF u WdSnlnS-
ton banks showed a substantial gam
from S48.726,000 in June, 1910, 10
S54,885 900 in June, 194l, according
to the latest report of condition of
banks by the office of controller of
the currency.
Other loans, including overdraftS,
were shown to have increased ollr-
Ing the same comparable period from
S72,671 900 to S83 Oil 900. Total
loans made by the % banks showed
gain during the year from Sl2l,-
397, 1000 to S137896,000. Total loans
on April 4 of this year stood at
1892, lot 900.
Savings deposits in the % banks
grew from SLOT 174,000 in June, 1910,
to S113,325, 600 in June, l94l, while
the number Of savings accounts in
creased from 283,923 to 295 .406 dur
ing the same period.
Breakdown in Gain.
In the detailed breakdown report
for the national banks. savings
banks and trust companies, the fol-
lowing results we're shown:
Nine national banks had loans
this June of S64 457 900, including
Sl8.823.O00 on real estate, and S45,-
$4,000 other loans, including over
drafts, and s47,1590 900 savings de-
posits in 118.248 accounts.
Eight savings banks this June had
total loans of $50 AL 900 including
s8.472.OO0 on real estate; savings
deposits of sl8741, 900. in 00,522 ac-
counts.
Five trust companies had total
loans of S42 998000 including ST.
100000 on real estate, and s47,425, ,OO9
savings deposits.
United States Government secu-
rites held by the % banks and trust
companies are on a steady increase.
They grew from S83 ,307 900 in June,
1910. to s92 SOB 900 in April, 1941,
to S94.O23,OO0 in June, l94l.
Total assets of the % banks and
trust companies increased from
s436 .837 900 in June. 1910. to s487,-
556000 in April, l94l, to 503,893,-
600 in June, 194l.
Total deposits of the % banks
and trust companies increased from
s384678. 900 in June, 1940 to s436,-
961 900 in April. 194l, to s450,704,-
900 in June, 194l.
Surprise for Pepco.
Oficlals of the Potomac Electric
Power Co. will make an effort to
learn on what basis the Federal
Power Commission has recommend |
ed a substantial expansion of its
facilities by proposed construction Of
q new plant to be erected at Blue
Plains. D. c.
A. G. Neal, president Of P. Z. p.
Co. said today he had heard nothing
of the proposal until it was an
nounced by the Federal Power Com
mission yesterday and could not
understand at the present time why
such proposal could be made, in
view Of the program already under
way for expansion of power facilities
here. He is seeking an interview
with F. P c. officials to learn why
the recommendations were made. |
It is possible. he indicated, that the
Federal officials have some infoima-
ton upon future needs in the Cap
ital and vicinity not vet disclosed
to the local power company.
The Potomac Electric Power Co.
however Mr.. Neal said, already has
two plants in operation, at Benning
and at Buzzards Point, and also
has an interconnection with hydro
electric power on the Susquehanna
River, which bring to Washington |
altogether total power capacity
of 100000 klloWattS. This capacity
is already far ahead of the total
load, which reached a peak last
December of 249000 kilowatts
In addition, he said the company
has on order two more 500OC-kilo- |
watt generators, to be shipped one in
January, 1912, and another in De- !
cember, 1912. which together will |
Increase the local output by 100000 |
kilowatts, bringing the total ca
pacity here to a grand total of 440,- |
900 kilowatts.
The Federal Power Commission |
report, it was learned, is based on
future needs. The report, sent to |
President Roosevelt yesterday, was
part of national proposal that the |
Nations power facilities should be |
greatly expanded
Bankers to Honor HaZen.
John A. Reilly, acting president of |
the District of Columbia Bankers |
Association, announced appointment |
of committee to attend the funeral !
OF District Commissioner Melvin C. |
Hazen at pm. tomorrow at Ham,
line Methodist Church. Mr.. Reilly, |
who is president Of the Second Ma
tional Bank, will attend with the |
committee, which includes the fol- !
lowing: Francis G. Addison, jr, |
president of Security Savings g. |
Commercial Bank; Floyd E. Davis,
president of Lincoln National Bank, |
Of which Mr.. HaZen was secretary |
of the Board of Directors Robert |
V. Fleming, president of Riggs Ma
tlonal Bank, and John Saul, execu-
tive vice president of the American |
Security & Trust Co.
Directors of the Lincoln National
Bank, headed by Mr.. Davis. plan
to assemble in front Of the church
at l2:45 pm, and go to the services
In body.
A. T. & T. Rights Traded.
The new A. T. & T. rights sold on
the Washington Stock Exchange to-
DAY in block of 100 at 11-32, as
compared to sales of 1882 and
! 1882 Yesterday, when trading
opened.
The bid and asked prices today
were ! 1892 and 1892 The new
A. T. & T. convertible debentures
were listed today on the local ex-
change at l1014 bid and 1111a asked.