Evening star., 1942-08-12
DC. Title ILoans
Al S371,125 Mark
In First Half
So,577,3S Volume
Handled Here Since
Stort in 1894
By EDWARD c. STONE.

Housing Act. in washington, in the
first half of this year, numbered
s2s and totaled $371, ,125, according
to announcement just made by Fed.
eral Housing Commissioner Abne,
H. Ferguson.
Title loans granted in the Dis.
trict from August, 1884, when such
loans were first allowed, through
June OF this year, numbered 2o,o3t
and amounted to $9,577,385 the
same report states.
Both Maryland and Virginia
were among is States which report
ed Title I loans in excess of ST.
900 900 in the first half of the pres
ent year.
Maryland reported that 1891 OF
these repair loans we're granted In
the half year for s1,399, ,16o, while
the cumulative total from August
1884. showed 62,565 Title l loans
amounting to $50 1873 ,403.
Virginia Title 1 loans in the first
half of 1912 numbered 2943 and
totaled s3,O64,525 From 1884 cumu
lative loans numbered 47,997
amounting to $27 566,l43.
National Totals Impressive.
Under wartime conditions, Title
I loans now are limited to essen
tial repairs necessary for santa
ton or health or to prevent de-
terioration of existing dwellings. OF
remodeling in critical war housing
areas.
Title I loans have Just been made
available for the conversion of OIL
burning furnaces to the use Of other
fuels, and for fuel-conserving i'm
provements.
Purely luxury improvements are
not now allowed and are respon-
sible for the national drop of 81
per cent in Title loans in the halt
year, from the like 194l period, and
the 80 per cent drop in the amount
of such loans, Commissioner Fer
guson commented.
Board Elects Two Directors.
Directors of the Lincoln Service
Corp, industrial banking firm, to-
day elected William H. Churchill
and John Jay Hopkins as members
Of the board, President Charles
Delmar announced.
Mr.. Churchill is treasurer of Peo-
Piles Drug Stores, Inc, one OF the
largest drug chains in the United
States.
Mr.. Hopkins is vice president and
. director of the Electric Boat Co
Of New York, and also a director OF
the Tdewater Associated Oil Co.
The directors declared regular
quarterly dividends on all classes OF
stock, payable September IL to
stockholders Of record August 81.
June Home Loans Under 1S41.
Insured building and loan asso-
Citations in the District Of Columbia
made home loans amounting to ST.
773,700 during June, Oscar r.
Kreutz, general manager of the
Federal Savings & Loan Insurance
Corp, announced today These II
institutions loaned $58l 800 last May
and $1,770.624 in June, 1941. Home
mortgage loans on the associations
books now aggregate $40,126, 700.
New construction loans were
$576, 400 during June, while loan,
for home purchase amounted tc
S37S,300. Reconditioning loans to-
tailed $4,000.
Insured associa tions in MARYLAND
made home loans amounting to ST..
900 500 during June, while the same
A institutions loaned $2,366 400 ir
May and S2.811,66l In June, 194l
New construction loans were only
$435,600, while loans for home pur-
chases amounted to $1,434,30
Insured associations in Virginia
made home loans amounting to ST.
064 900 In June, the same 26 insti-
tutions loaning 1896. 500 in May and
$1,446,074 in June, l94l. New con-
struction loans were only 1912 900
due to wartime restrictions or
building materials, while loans fol
purchases amounted to S529,20
q. S. Officials on Program.
Washington members have been
notified that a conference on THE
Audit and Re-Negotiation of Cost
Plus Fixed Fee Contracts" will fea
ture the 1lth annual convention OF
the Controllers Institute of America
September 21-23.
officials of the Army and Navy
Departments will participate in the
discussion, explaining their renego-
tiation program to the business ex-
ecutives.
5 Three other group conferences in
clude: Government Control of CT.
william Merchandise Inventuries.
based on the WPB study now in
progress: Problems in Administra-
ton OF the General Maximum Price
Order and Sound Methods OF In.
sentory Valuation Under Present
Price Levels"
New FHA Office Created.
Earle S. Draper, assistant com.
missioner. has been appointed dep
uty commissioner of the Fedora
Housing Administration, a new DO.
sition. He will supervise FHA wal
housing operations as we'll as post.
war housing activities and will b.
contact man with other agencie.
dealing with housing.
Mrs. Helen r. Sharpe, secretary
Of the Bank of Commerce g. Sav.
ings, is vacationing in Indiana.
Depositors' balances in the Posta
Savings System in June totaled 81,
$4,000, 900, compared with $l.3O4
900 900 in June, 1941, and up $1,000,
600 from May Of this year.
Today's Trading on Exchange.
Capital Traction SIS were wante
on the Washington Stock Exchang
today. registering a $1,000 transfe
at 1851, around recent levels. tn
hnal bid was 1851 with lot asket
Mergenthaler Linotype recorde
q l00-share sale today at "a, un
changed. Final bid was "a with 35l
asked.