Evening star. [volume] (Washington, D.C.) 1854-1972, 1941-10-29
BIanz Elected Chief
Of Building and
Loan League
Secretary Of American
Building Association
Succeeds Poyne
By EDWARD e. STONE.

By EDWARD &. STONE.
Wilfred H. Blanz, secretary of tn
American Building Association, wa
elected president of the District o
Columbia Building and LOAF
League at the annual meeting he'll
last night at the Raleigh Hotel. H,
succeeds William N. Payne, jr.. WHIT
has served two terms.
Clarence E. KefauVer, eXecutiv,
vice president of the Columbia Fed
eral Savings & Loan Association
was named vice president; Millare
T. Dixon, National Permanen
Building Association, treasurer, anc
r. Wilson Camp, secretary. Distric
Building e. Loan Association, secre.
tary.
The directors include George M
Emmerich, president, Northern Lib.
erty; Martin L. Cook, secretary En-.
terprise Building Association: R. w
Santelmann. secretary, Metropolis
E. K. Jones, secretary, Interstate
Edward A McAleer. secretary
SO-OJNl oAANN' u
Carlson, secretary. Prudential; vii.
liam N. Payne and other past presi.
dents.
Associations Face Challenge.
At a dinner following the election
William F. Penniman, deputy gov,
ernor, Federal Home Loan BanI
Board, the guest speaker, declared
that the building and loan associa-
tons are facing a tWo-fold chal.
lenge, one to meet present condi,
tons as result of the emergency
and challenge Ito. meet the emer.
gency after the emergency Mighty
conflicts, such as are being witnessed
today, are CHASTITY, but they produce
changes that make for progress, hi
said
After a decade to stimulate pro.
duction by artificial aids to the con
sumner We must now curb consumer
spending before it runs away from
production capacity into initiation
We have shifted swiftly from 6
buyers market to sellers market
from national worries about sur.
pluses to worries about shortages
price control. rent control. priorities
the gigantic tax program and diver
sion of savings into Defense bonds
and stamps. Yet these are but the
beginning. he asserted.
In your business, the speaker
added. you have attracted millions
of new savings and have increased
your home mortgage activities ano
helped TO finance an upsWing In
residential construction well in eX-
cess of the 1929 rate. of building
Today, however, you must think Ii
terms of digging in and prepare
for the aftermath.
The housing demand is practically
unlimited but there are serious
shortages in materials. Home con-
struction will depend on the ability
OF the industry to adjust itself rap
idly to emergency conditions by the
adoption of simple designs, of new
types of materials, of new building
methods and by further concentra.
ton on low priced homes.
Drop in Loans Forecast.
This IS stupendous job, MI
Penniman asserted, which may no
be accomplished safely within
short space of time. We must, there
fore, anticipate a falling of in con
struction loans which will hit you
associations with varying intensity
according to the price range o
homes customarily financed an
your lending policies.
Construction loans, however. rep
resent only about one-third of tn
total lending volume of the buildin,
and loan associations, and there i
good reason to believe that the rea
estate market will remain active be-
cause Of an increasing demand TO
existing dwellings.
Turning to building and loan say
ings, Mr.. Penniman declared Their,
is new emphasis on thrift;
philosophy almost forgotten in tn
past decade. The Defense bont
campaign will not cause any drying
up of funds flowing to llan associa
tons, he said. a tthe same tim,
urging everybody to help make tn,
Treasury program success. Thes'
funds will be of great use to millions
Of people in normal times.
Mr.. Penniman cited the grea
growth in savings during 1910; pre-
dicted continued keen competition il
the mortgage field; warned agains
excessive dividends and urged build
ing and loan leaders to protect thei
institutions by constantly buildin.
UP reserves.
Special Guests Present.
Among prominent guests at tn
dinner were James Twohy. governor
Federal Home Loan Board; Franz
Hancock, jr, and F. w. Catlett
members of the board; Osca
Kreutz. manager, Federal Saving
e. Loan Corp; Maj. Francis E
Clarke. Treasury Department; 7
Stanley Holland, president, Distric
Bankers Association; o. K. La
Rogue. president, Federal HON
Loan Bank Of Winston-Salem; Ere,
A. Smith, president. Washington
Board of Trade; Harold Lee, coun
sci. Federal Home Loan Bank: V.
Bonesteel, chief examiner. Fedora
Home Loan Bank, and Charles c
Koones. president, Washington Rea
Estate Board.
William H. Dyer was chairman o
the ARRANGEMENTS Committee for tn
dinner. Two of the members pres
ent are former presidents of the ma
tional association, c. c. James ant
Edward c. Baltz.
Heard in Financial District.
Richard A. Norris, vice presiden
and cashier Of the Lincoln Nationa
Bank, who has been i'll for severa
weeks. is back at his desk, having
nearly recovered his health.
Harold D. Kraft, general agent
announced today that M. Albert Lin
ton, president of the Provident Mu
tual Life Insurance Co., will speai
on the radio forum, Wake VI
America" next Sunday, at 2 pm, OF
the effect of imitation on owners o
life insurance. savings accounts ant
investors generally. There will b.
~ayarol ot,or eyooEors aud nIleS