Evening star., 1942-06-22
S19,420,637 Title |
Loans Granted by
D. T.. Institutions
Three-Yeor Record
Reported to Bankers
By FHA Officials
By EDWARD c. STONE.

IN the District OF COlumDla since
the Federal Housing Act was
amended in June. 1889, through
March, numbered 1888 and
amounted to Sl9,420.637, according
tn report lust made by the FILA
to the District Bankers Association.
Commercial banks granted 7,458 for
S3.48l,476 and other institutions,
642O, for sl5,939,l6l.
From January through March.
this wear. the same institutions with
head Offices in the District granted
l545 Title I loans for total OF
s3266, ,22l, the report added.
Furthermore. lending institutions.
regardless of where located, granted
724l loans on properties located in
the District of Columbia in the log
neriod. amounting to s3,l82,6l3, and
405 in the first quarter OF 1912 for
sl6l.l89
Title ii Loans Reported.
Title II mortgages accepted Tor
rHA insurance from June, 1889,
through March of this year. num-
hered 6 e66 for s37 ,36853O, OF these
loans commercial banks eXtended
eAs for sl2.07l 970 and other in
stitutions granted 4,72l Tor $40
296. $50.
During the same period loans
made by other lending institutions
on properties located in the District
of Columbia numbered 2'o'o ana
amounted to SIS 5440, 900, the report
saws.
In the first three months OF this
wear Title II FILA mortgages
granted by institutions with heao
ofices in the District numbered 224
and amounted to sl,l96 $50.
pecause of difficulties in the Sc
curing of building materials, prop
ertv Improvement loans have re-
GENTLY shown a decline, the report
added.
Taxes Cut Quarter Incomes.
Taxes cut deeply into the FIRST
ouarter incomes of companies nav
,np securities listed on the New YORK
stock Exchange Among the 4ol
companies which have made their
results public, combined net earn
,nos after taxes were 14.3 per cent
lower than in the period the year
before.
Some of the groups most adverse
y affected. with the percentage
drop in their net incomes, are: AUTO
mobile. sos per cent; steel, By per
cent. chemical, 203 per cent; 1000,
an.2 per cent, and building, 100
Der cent.
! Six industrial groups bettered
their income position: Retail mer-
chandising companies increased tnelr
earnings 43.l per cent; the rails, III
ner cent and petroleum companies,
is2 per cent. ~
Though the overall result for all
the companies surveyed was less
favorable, nevertheless high pro-
nortion-465 of the total number OF
4sl companies-earned proht'
Gebhardt Heads Bankers.
Homer Gebhardt. vice president
and trust officer of the First Hunt
ineton National Bank, has oeen
elected president of the west VIZ
rinia Bankers ASSOCIATION.
Mr.. Gebhardt has been the aSso,
eition's secretary for II years aio
,s q nersonal friend of many WASH
inoton bankers. He is a director IN
several Huntington institutions, OIL
rector in the West Virginia State
chamber Of Commerce and mem
her of the state Defense Bond Com
nnittee. .,o
Edgar c. Trout. cashier OF the
Citizens National Bank. Martlns-
hurp. was elected treasurer
Rond Sales Lower Insurance.
life insurance leaders in wash
ineton said today that they CONSIDER
present War savings bond purchases
az the chief reason for the crop OF
% ner cent in the amount OF IN
surance written in May, compared
with May a year ago.
They don't understand why the
decrease was so heavy, with the
Government payroll at the hlghest
noint ever known. One agent ven
tured the opinion that thousands OF
girl stenographers are too young 10
take any interest in insurance ana
future protection.
A good many Government WORKERS
are known to be sending money
home which reduces the amount OF
funds available for insurance or
other purposes. May Of last year
was also an extra good month lot
new life insurance policies, a total
of IS .967 900 being written. hard
figure to equal, general agent
pointed out.
Wide Interest in Stocks.
Boardrooms had a larger attend
ance than usual this forenoon as
market followers gathered to see
what the over-Sunday war news
would mean to the stock list. The
market opened lower. as expected,
but there was no heavy selling IN
the early trading. Market COM
ment urged caution in buying but
some observers expressed favorable
opinion on war stocks
washington banks today received
manual from the American
Bankers Association on War Pro-
duction Loans Under Executive
order el12 and Regulation of the
Federal Reserve System" The man.
nal outlines ways by which the
country's $4,000 banks may help
idle plants with their abnormal
credit needs so that they may get
into war production.
Today's Trading on Exchange.
Capital Traction SIS opened trading
on the Washington Stock exchange
today. with a $500 transfer at los,
of an eighth from the last previous
sale.
Thirteen shares of American Sc
curity IL Trust Co. stock appeared
on the board at 181. off point
from the last sale last week. The
stock closed with 180 bid and 100
asked
John NJ Christie. Riggs National;
Edward M. Blaiklock, Washington
Loan Il Trust. and Earl McGeary,
Hamilton National, who attended