Evening star., 1941-08-06

nearly sl4.- Wilfred II. BlanI.
100000 of which Sl2.500,000 repre-
sents advances on prime mortgages
In Washington and nearby Virginia
and Maryland.
For IS years after its establish
ment, or until 1909, gains were mod
est as it was not until 1910 that
assets reached the million dollar
mark. In 1920 the balance sheet
passed the S3O00,000 peak while in
1880 resources had jumped to $780,
600. Last year resources topped
s13,O00,000 and the present report
reflects an all time high. Accord
ing to Wilfred H. Blanz, secretary,
over s2,700,000 in real estate loans
were made last year to home owners
end home buyers in the Metropoli-
tan Area.
Officers of the association in addi-
tion to Mr.. Blanz include Milton
H. Prosperi. chairman of the board;
Charles H. Kindle, president;
Arthur c. Balser, vice president;
Howard B. Kramer, treasurer;
George A. Brennan. assistant Secre-
tary, and r. Lee Baxter, assistant
treasurer.
Directors are John E. Mergner,
Chatham M. Towers, Thomas S.
Sergeon, Charles A. Rossiter, Will
liam C. Farmer, Bernard j. Coyle,
w. Dudley Spicknall and Messrs.
Balser, Prospect, BlanZ, Kindle and
Kramer.
Lively Trading on Exchange.
The Washington Stock Exchange
witnessed the heaviest trading in
many months today
American Telephone rights were
very active, selling at 6-32 against
1872 yesterday.
Mergenthaler Linotype opened at
e424 for good sized blocks. Later
three 100 share sales took place at
IS. the highest price IN several weeks.
Capital Transit moved at 15l7, in
cluding a sale of lib shares, and two
others of 100 shares each.
Washington Gas comman moved
at 81, Lanston at 23ha and Real Es-
tate Mortgage e. Guaranty preferred
at IL, on 200 share sale.
Contracts Up 217 Per Cent.
Details from the monthly review
of the Federal Reserve Bank of
Richmond, received here today,
show that the value of contracts
awarded for construction work in
the fifth district in June, 1941, to-
tailed S92, $685. 900, were the third
highest in valuation for any single
month on record and ran 2l7 per
cent ahead of June year ago.
In the first half of 1941 contracts
awarded in the district totaling
S373,513,000 not only exceeded
awards in any other half year but
also exceeded awards for the entire
year in 13 of the past 20 years.
Much of the construction work for
which contracts we're awarded III
the past year was a part of the
defense program, but non-defense
work has also been at relatively
high level in recent months.
Building permits issued in % cities
In June totaled s13,533,l0O in esti-
mated valuation. an increase of 81
per cent over June, 1910. Permits
for the half year were up 20 per
cent. the review says.
Washington led in permits in June
with s4,9o2,670. no Government
work being included, as city permits
are not required.
Buying Power Reveals Gain.
Debts to individual bank ac-
counts, which reflect buying power
indirectly, totaled $3.50. $4,000 in
Washington in june, 81 per cent
ahead of the same period a year
ago. Debts were up 80 per cent in
the fifth district.
From May to June the number
on pay rolls in Washington dropped
! per cent, but the amount of pay
rolls rose 08 per cent. There is
practically no unemployment in the
fifth district, the report states.
There continues to be a surplus
of clerical help, however, partly due
to students desiring vacation work.
Seasonal layoffs have been few and
shutdowns to overhaul machinery
short.
Business all over the district has
been far better than a year ago.
D. c. Automobile Sales Higher.
Based on r. l.. Polk figures, the
Richmond review reports that sales
of new automobiles in the District
of Columbia in June tetaled 36l2
cars, against 1896 year ago, a
gain of 81 per cent.
Sales in Washington in the first
six months of 1941 numbered 20,262
passenger cars, compared with 15.l04
a year ago, jump of "a per cent.
The gain in the whole fifth district
in June was 48 per cent over last
year and in the half year A per
cent over the first half of 1910.
Heard in Financial District.
The Home Loan Bank Board will
complete the transfer of activities
to 2 Park avenue, New York, be-
wteen September Is and %. The
change involves about 1900 en-
ployes in Washington and is made
to supply other Government
agencies with office space.
Leading insurance company Off
cials announce that their employees
will get the benefits of the 4O-hour
week under the wage and hour
law, although they will comply
with the law under protest. They
maintain that insurance companies
are not engaged in interstate COM
merce.
Yesterdays big offering of Libby,
McNeill & Libby common stock was
quickly oversubscribed, Washington
investment dealers reported today.
Books were closed yesterday.
The Capital Transit Co. is now
operating more than 1,400 street
cars and buses in morning rush
hours, about 240 more cars and
buses than we're in Use year ago,
setting a new all-tine peak, accord
Ing to Transit News.