Evening star., 1942-02-22

uSllOSy W IL v IL
have been paid Marcy L. sperry.
continuously for IS years, were dis
tributed on the $4,000 shares of pre-
ferred and the 425 900 shares OF
common.
The company and subsidiaries OBJ.
tanned 10000 new customers during
the year, more than in any Other
three years, due to the increase Of
about 100000 in the Metropolitan
Washington population, Mr.. Sperry
says. The new customers include
$500 apartment dwellers, but mos
of them are homeowners.
During 1941 construction expendi-
'tures totaled s3,691 1856. To meet
these expenditures the company
asked the Public Utilities CmmiS.
sion for the right to sell. 10000
shares of preferred stock.
Delay in the ruling on the appli-
cation made it necessary for the
company to borrow the money from
banks. 1t is now expected that the
sale of $4,000 shares of preferred
stock will take place this year, OF
just as soon as approved by the
commission.
Mr.. Sperry stresses the difficulties
of doing business in war time, notes
the increases in pay of employees te
meet the higher cost OF living, says
the company is now offering service
to about 100000 people, and see:
continuing pressure for additional
gas service during the present year
1t is expected that the fine new Of
flee building will be finished in April
or May, the report says.
Loan Assets Up S15,409,685.
Combined assets of the building
and loan associations of the District
of Columbia at the close of business
January 81 amounted to Sl73.544,-
2l2 according to the monthly state
ment released last night by F. Will
son Camp, secretary. This was an
increase of Sic, 400 ,685 over the COM
parable period of year ago, and a
gain of S1,208, ,220 over the December
81, 1941 report.
Real estate loans outstanding
which totaled $148, ,693 800 last year
rose s13,217,029 to $161 ,910,419. This
latter figure, however, reflects a de-
cline of $452,850 compared to the
previous month when an all time
high of $162, ,363.2 .269 IN mortgage
loans was established.
Shareholders accounts moved up
Sc, ,69s, 1859 during 1941 to $149 .999 OIL.
Reserves, including undivided
profits, also increased substantially
rising from sl1 1923 ,668 to s13,377 ,l0l
Mortgage loans approved during
January, while up s449 ,o63 to $685.
1T from last year were under De-
cember when s4,267,050 was bor-
roved for construction, new horses
and refnancing. A further decline
In MORTGAGES is expected due to diff
ficulty in obtaining building priori-
ties.
AS expected, the campaign beins
conducted by the associations te
speed the purchase of Defense
bonds and stamps is noted by close
out activity. Apparently. many
share account owners are transfer
ring small thrift accounts to wal
securities, Mr.. Camp said.
Very prominent leaders in Gov
ernment finance are among those
who have accepted invitations tt
attend the Washington Bond Clubs
luncheon next Thursday at the
Carlton Hotel. They include:
Charles B. Henderson, chairman
Of the r. F. c.; Mariner S. Eccles
chairman of the Federal Reserve
Board of Governors; Preston
Delano. controller of the currency
Ganson Percell, chairman, Sc
curities and Exchange Commission
Ernest G. Draper. governor. Fedora
Reserve Board; Edward H. Foley
general counsel, United States
Treasury.
Also Evelyn Barring of. Barring
Bros, London; j. Taylor Foster
president, Bond Club of New York
and Wallace H. Fulton, executive
manager, National Association OF
Securities Dealers. Both President
J. C. Folger and Chairman Myles
H. Quail are elated over the re-
sponse of the regular members
The speaker will be N. D. Jay
Morgan g. Co. partner.
Mergenthaler Votes Dividend.
Directors of the Mergenthalel
Linotype Co. have declared divi-
dend of 81 per share, payable March
20 to stockholders of record March
6, it was announced here yesterday
The payment is the same as In
the first quarter of 1941. On De-
cember %, $3.50 was paid.
National Bank of Washington
stock sold at 104 on the Washington
Stock Exchange yesterday, Wash
ington Railway & Electric preferred
moved at 114A, ex-dividend, Capital
Transit sold at % and a $500 trans
fer of Washington Gas SIS, 1860
took place at 127, up full points.
Members of the auditors section
of the District Bankers Association
were guests of the Baltimore con-
ference Friday night, among those
attending being Lewis E. Thomas
Liberty National, chairman of the
Washington section; D. D. Whit
craft, Riggs National, vice chair
man; James c. Elgin Of w. B. Hibbs
g. Co., secretary-treasurer, and Will
liam F. Orrison, jr., member of the
executive council.
Building, Loan League Meets.
Members of the District of Co.
lumbia Building and Loan League
will hold their monthly luncheon
meeting at the Raleigh Hotel Tues
day noon.
Wilfred H. Blanz, president of the
league and secretary of the Ameri-
can Building Association, will speak
over Station WINK Friday at 12:45
In the Defense bond drive.
Edward c. Baltz, secretary, Per-
petual Building Association, is in
Florida on his annual vacation. He
will return March /.
Washington's financial district
will be closed tomorrow for OBJ
servance of the national holiday.
Z