Evening star., 1942-06-18
Assets OF Building
And Loan Groups
Increase Slightly
Construction Looms
OF D. G. Associations
SmoIIer in Moy
By EDWARD c. STONE.

F. Wilson Camp, secretary OF the
District Building and Loan League
announced today that combined
assets of the 25 associations made q
slight gain in May over April, rising
to Sl74.044.3ll. This is also an in
crease of sll,012 ,294 over May, l94l
Mortgage money advanced for con-
struction revealed sharp drop.
Real estate loan portfolios con-
tinued active, with $3.50. 1868
standing as advances against mort
cages as compared to Sl53, ,l6l 900 a
year ago. New share money flowing
into the reporting associations rose
during the year to $l5l, ,420, ,257, or a
gain of s7,67S,72s, Mr.. Camp re-
ported.
Rejecting a considerable strength
ening in reserve accounts, this item
moved up from s12,651 1872 in l94l to
a new high of Sl4,120,087 A sharp
decline is noted in the amount OF
mortgage money advanced for con-
struction and new houses. Last year
total of S5,35l,26 was placed
against building operations during
May, while the past month advances
amounted to but S3,886,2l3. The re-
port disclosed that loss in mort
cages as compared with April OF
$622,958 is indicated, practically all
from lack of construction applica-
tons
The IS affiliated members of the
District of Columbia Building and
Loan League are continuing their
efforts to further the sale of war
securities to their customers and the
general public, Mr.. Camp stated.
ID. c. Bank Stocks Hold Well.
Washington bank stocks as
group held up we'll in the first five
and a half months of the present
year, maintained their dividend pay
ments and are returning some ex-
cellent yields, according to survey
of leading issues made today.
Bank officials expressed surprise
that the volume of trading in these
issues has not been greater SO far
in 1912 They say bank assets reflect
unusually varied investments, that
there are no imitation worries con-
nected with such stocks, they are
non-speculative and last year en-
joyed extra high earnings in the
face of numerous handicaps, due
mainly to low interest rates and the
war.
Present quotations are interesting.
The last sale in Riggs National COM
mon was made at 280, although the
bid is much lower now, and the last
sale in Riggs preferred registered
l01I3. National Capital sold re-
Gently at 176, Liberty National at
l7012, National Bank of Washington
at 1902. American Security at 100,
National Savings a. Trust at 205
and Washington Loan & Trust at
206.
Highest Yield 5.88 Per Cent.
At present, the highest yield
among issues listed on the exchange
is on National Bank of Washington,
5.88 per cent.
Among bank stocks sold over the
counter, the last bid for Anacostia
was 160; City Bank. %; Columbia
National, 1877; East Washington
Savings, Is; Hamilton National, 20;
Munsey Trust, 871a; National Metro
politan. 240; Second National, 69A :;
Security Savings & Commercial,
l64 Suburban National, 14k, and
Union Trust, 6612.
Bank of Commerce & Savings.
with a bid of 325. is the highest
priced bank stock on the exchange,
but there have been no sales this
year.
Lincoln National, 200 bid; Bank of
Bethesda, 30, and Prince Georges
Bank IL Trust Co.. 20L, are also
awaiting the years first sales on the
exchange.
Bank Of Bethesda Votes Extra.
Directors of the Bank of Bethes-
da have declared the regular semi
annual dividend of 112 per cent
and an extra dividend of | per cent
on the outstanding stock. President
George P. Sacks announced today.
Both dividends are payable on June
26 to stockholders of record June 20.
Directors of the American Sc
curity & Trust Co. have declared
q quarterly dividend of 2 per cent
on the outstanding stock, payable
July 10 to stockholders of record at
the close of business June 80, Presi-
dent Corcoran Thorn announced
today.
ID. c. Insurance Sales Off.
Sales OF new life insurance in
the District of Columbia in May
totaled s4,548,000. a decrease of %
per cent from the volume written
in May a year ago, Hartford re-
ports stated today.
Sales in the Capital in the first
five months of this year reached
S28, 8,274,000, a gain of per cent over
the like period a year ago, the re-
port added.
Maryland sales in May were off
II per cent and up l6 per cent in
the five months. Virginia's May sales
we're down 81 per cent, but we're up
8 per cent in the five months.
Auditors Meet Tonight.
The annual election of the auditors
section of the District Bankers
Association is set for tonight at the
Wardman Park Hotel D. D. Whit
craft. Riggs National Bank, is slated
for election to the Craftsmanship,
succeeding Lewis E. Thomas, Liberty
National.
Elmer Louis Kayser, George
Washington University, will be the
principal speaker at annual dinner
meeting of the safe deposit section
of the of the District Bankers Asso-
citation. June 25, at the Lee Sheraton
Hotel, Chairman Guy D. Cowl an
nounces.
Members of Washington Chapter,
American Savings and Loan In
stitute, meeting Tuesday evening at
the Benjamin Franklin University,
heard Edward C. Baltz, secretary Of
Perpetual Building Association, de-
liver the final lecture of the current
series. Mr.. Baltz spoke on the organ
ization and personnel setup OF a
modern building association.