Evening star., 1941-09-21
BuiId'i'~f' &C .'ns L
Expand Loans
Here Sharply
Mortgages Approved
In August Exceed
$4,000, 900 Mark
BY EDWARD e. STONE.


More Than S50O0000 in mortgage !
loans was approved by the % build |
ing and loan associations in Wash |
ington during August, an increase /
in volume of S1,479,023 over August, |
1910, F. William Camp, secretary of /
the District Building and Loan |
League, reported last night
August and May were the most !
active loan months of the present !
year. Mr. Camp added The grand !
total Of real estate loans outstand- !
ing has climbed to S158, ,382.l07, |
against Sl4l .287 $50 a year ago.
August was exceeded only by Fer
ruary in the number of share ac-
counts opened during the month. |
Mr.. Camp stated. Accounts closed /
during August showed considerable .
decrease as compared with other
months included in the review.
Shareholders increased their saw
tngs accounts in the building and
loan associations during the year /
ending August 81 by S127O4,842. a /
total of $l46,O21 432 comparing with
S133 3l6,590 on the same date a year
ago
Combined assets of the Washing !
ton associations rose from Sl50.726,- !
053 on August 81, 1910 to $l68.246. |
625. an increase of Sl7.520572. the /
highest point on record and a gain of .
nearly 50 100000 in the last 80 days, !
Secretary Camp concluded.
Bankers Await Convention.
About On 1aoJipo
bankers. as we'll as many Govern
ment officials are awaiting the open
ing of the annual convention of the
American Bankers Association, in
Chicago a week from tomorrow. All !
the latest Developments in the bank
ing world are on the program for
discussion. several thousand finan-
ciers having already made reserva-
tons.
First members of the Capital dele
cation to leave here for Chicago
will be D. J. Needham, general coun-
sci of the A. B. A, and J. o. Brott,
assistant counsel.
Another early arrival will be J. /
Harvey Wilkinson. jr.. Richmond
banker who is chairman of the as
sociations National Committee on
Defense Loans. The social event will
start with a reception at the Stevens
Hotel next Sunday afternoon.
Cost Accountants to Meet.
James A. Councillor. senior partner /
In the accounting firm bearing his /
name, will address WASHINGTON .
Chapter, National Association of .
Cost Accountants. at the first meet
ing OF the fall season at the Hamil- .
ton Hotel next Wednesday evening,
The chapter VIII be host to John .
H. Marshall, director of District
unemployment COMPENSATION and to
the controllers group. The meeting
Will start al o'clock, following a
dinner set for $50.
Mr.. Councillor is chairman of the
Social Security Tax Committee of
the American Institute of Account
ants and will speak on Merit Rat
ing, as 1t relates to pay roll taxa
ton.
Institute Faculty Announced.
Members OF the faculty of Wash
ington Chapter, American Institute
OF Banking, and the subjects they
Will teach in the first semester we're
announced yesterday by Kenneth
Blrgteld, chairman of the Educa-
tlonal Committee, as follows:
Bank organization End operation.
Ralph Endicott, Washington Loan /
d Trust Co.; negotiable Instruments.
Wilbur M. Baughman, Federal
Trade Commission; economies II. /
Peyton A. Kerr, GEORGE Washing !
ton University; accounting, D. T..
Mitchell. c. P. A; analyzing fnan-
c1al statements. James D. Cushman
columbus University; English let
yer writing, Gardner P. Foley,
Maryland University; current events. /
Elmer L. Kayser, George Washing
ton University.
Mr.. Blrgfeld expects 200 enroll |
ments, which begin tomorrow.
AshbroOk District Manager.
The Farm Bureau Mutual Auto
mobile d Life Insurance Co. vester-
day announced appointment of Paul
n. Ashbrook as district manager. |
Mr. Ashbrook has been assistant |
housing management adviser of the |
United States Housing Authority.
After graduation from Dennison
University, Granville. Ohio. he came |
to Washington as secretary to his !
cousin, the late William A. Ash
brook, Representative of the 18th |
Ohio Congressional District. and
later was chief page of the House /
Of Representatives
Heard in Financial District.
The September meeting of the |
Executive Council, District Building
and Loan League, will be held Tues |
day at II 30 at the Raleigh Hotel. !
the first session since the vacation |
period.
Sales of general merchandise in
rural areas in the first eight months |
Of this year were % per cent higher
than in the like 1910 period. the
Commerce Department reported yes
terday.
Due To business gains so far this |
year, employees of the Welch Grape /
Juice Co. at the general office in |
Westfield, N. Y. and the six plants
have been presented a per cent |
bonus, according to announcement /
I.A