Evening star., 1942-01-25
Assets Of Loan
Groups Reach
New Peak Here
Associations Reveal
$l4,805,762 Gain
During Year
By EDWARD C. STONE.


trict of Columbia Building and Loan
League had combined resources of
$172 1888 ,992 on December 81, 1941
an all-time peak, and an increase
of $14,805, 1852 over the previous year
F. Wilson Camp, league secretary
reported last night. Nearly a mil
lion gain was registered in Decem-
ber, he stated.
Mortgage loans outstanding were
shown to be s162 1863 ,269, up s13, $685.
230 over the comparable month in
1910. Despite construction restric-
tions based on war priorities, loan
activity exceeded that of December,
1910, a total of S4,267 ,050 in real
estate loans being handled.
Member share accounts reflected a
healthy gain, rising $11,679, 1857 to a
new high of $149, ,466, ,548. However,
a sharp decline in new share ac-
counts was noted during the month,
while close-outs were slightly
greater. This is attributed largely to
the emphasis the members are put
ting on the sale of Defense bonds.
ALI the associations have qualified
with the Federal Reserve Bank to
handle the bonds and many are US
ing newspaper advertising to urge
their purchase. Sales have been very
heavy. The league itself is also re-
leasing newspaper advertising copy
urging the public to buy the bonds,
Mr.. Camp added.
Potomac Power Sales Soar.
Reaching the highest mark in the
history of the company. kilowatt
hour sales of the Potomac Electric
Power Co. in the District Of Co
lumbia in 1941 amounted to 1,0OS,-
460,17A kilowatt hours against 1885,
493, 1887 kilowatt hours in 1910, a
sharp increase of Isl ,966 ,237 kilo-
watt sales, or 17.74 per cent, officials
announced yesterday.
Railroads and railways used 103,-
239 ,057 kilowatt hours, which was
13616,117 more than year ago and
an increase of 1919 per cent. Public
street and highway lighting, owing
to the present policy of dimming
the lights as a war measure, used a
little less electricity than in 1910,
a drop of 1.34 per cent, the report
shows.
All other sales, however, were
much higher, reaching 88O050,l71
XVIII, an increase of 1871 per cent
over the 1910 total, officials said.
Truck Owners Book Eastman.
&c. c. Chairman Joseph B. East
man, recently appointed director Of
defense transportation by President
Roosevelt, will address luncheon
meeting of private motor truck own
ers at the Willard Hotel Tuesday.
His appearance will be feature of
the third annual meeting Of the
National Council of Private Motor
Trust Owners, Inc.
Private truck owners, operating IS
per cent of all trucks in the United
States, are faced with drastic reduc-
ton of many of their delivery and
transport services by tire rationing
and priorities rulings. Plans will be
formulated for efficient and eco
nomical use of existing equipment
to continue essential civilian serv-
ices while rendering all possible aid
to the prosecution of the war.
Also scheduled to speak are John
L. Rogers, who will head the Motor
Transport Division under Mr.. East
man; Arthur C. Butler, manager of
the Motor Truck Division, Automo-
bile Manufacturers Association;
William L. Quinlan, general counsel,
American Bakers Association; w.
H. OFT, jr, Kraft Cheese Co.; Gavin
w. Laurie, Atlantic Refining Co.,
and Fred Brenckman, Washington
representative of the National
Grange and president of the council.
River Line Declares Extra.
Directors of the Norfolk & Wash
hgton Steamboat Co. have declared
the regular semi-annual dividend of
2 per cent on the outstanding stock
and also an extra dividend of per
cent per share, it was announced
yesterday. Both are payable Feb
ruary 16 to stockholders of record
February 6. The company had an
excellent years business.
Directors of Washington Railway
& Electric Co. have voted the reg
ular quarterly dividend of $40 per
share, payable February % to stock
holders February 16, it was reported
yesterday.
During 1941 the company paid
the regular $40 dividend and a SIS
extra. The stock is now quoted on
the Washington Stock Exchange at
$3.50 per share bid and $3.50 asked.
Prices Strong on Exchange.
Capital Traction SIS were strong
on the Washington Exchange YES
terday. scoring new 1912 high.
Two 1000 transfers took place at
104A. The bonds, which are lead
Ing the exchange in activity, opened
the year at 103.
odS
was strong again yesterday, record
ing three sales at 1871, the new high
mark for 1912 reached during the
week. Terminal Refrigerating &
Warehousing Corp. sold at 81 and
Peoples Drug Stores common again
came out at 2111.
Capital Transit registered a small
sale at 1894, which is the highest
price at which the stock has sold In
many years.
600 Expected at Banquet.
Martin A. Cook, chairman of the
annual banquet of the District
Building and Loan League, reported
yesterday that 600 members and
guests are expected at the Mayfow-
er Hotel next Saturday night.
Entertainment features will be di-
rected by j. Hawley Smith. Final
plans will be made at TUESDAYS
(See LOANS, Page C-9.)