Evening star., 1943-11-22
Building and Loan
Leaders 10 Attend
Chicago concIave
BY EDWARD C. STONE

praisal policies. housing financing
and operating problems under war
time conditions will highlight tn
second war conference of the Unite,
States Savings and Loan Leagu
next week In Chicago, which viii
draw 25 building and loan executive
from Washington, Clarence E. Ke
fauver, president of the Distric
Building and Loan League, an
nounced today.
Speakers will include John H
Fahay, Washington, commissioner O
the Home Loan Bank Administra'
ton; Cyrus c. Willmore, president
National Association of Real Estate
Boards; Douglas Whitlock, Wash.
ington, president of the Producers
Council; Ralph H. Cake, president
United States Savings and Loar
League; H. F. Cellarius, veteran
secretary = treasurer, and Mortor
Bodflsh, executive vice president O.
the same organization.
Others will be John F. Scott, frs
vice president of the league; Walter
Ahrens, president of the Prefabri.
Gated Homes Institute; Frank w
Cortright, executive vice president
National Association of Home Build
ers; Gardner w. Taylor, chairman
and Arthur c. Erdmann, vice chair,
man OF the leagues Postwar Saving
and Loan Program Committee.
Open forums will cover the 1874
goal for association purchases o
Government securities, reliable ap
praisal policies for home lender
during the third year of the war, a.
we'll as operating changes caused b,
the war.
Washington delegates will attene
a meeting of the District Building
and Loan League Executive Com.
mittee at the Mayflower Hotel to.
morrow noon at 1890 and start fol
the convention Saturday.
Bank Reports Discontinued.
Fred z. Hetzel, area director OF
the War Manpower Commission, has
notified A. Scott Offutt, president OF
the District Bankers Association
that further reports by Washington
banks showing the number OF GUS
toners and transactions during late
banking hours on Thursdays will not
be required by his office. The test
period has ended and these hours
now appear permanent, at least for
the duration.
After stresSing the value of the
service being rendered to Govern
ment workers, Director Hetzel stated
that the banks might lengthen the
present late hours, should the VOL
ume of business increase. This de-
velopment, however, Is not antici-
pated.
During the siX-week trial, the
banks kept most elaborate records.
Insurance Sales Up Sharply.
Los Angeles topped leading cities
In the country in life insurance sales
gains in October, new business being
ST per cent ahead of last year. Next
came New York with a "a per cent
gain.
Washington's % per cent advance
was ahead of many other cities, in
cluding Boston, with 27 per cent
pickup; Chicago, 21; Cleveland, 81;
Detroit, 8; Philadelphia, 26, and st.
Louis, 10.
In the 10 months, Los Angeles
sales were Is per cent better than
last year; Chicago, 4 Cleveland, 2:
Detroit, 3; New York, 2; Philadel-
phia, 4; while st. Louis and Boston
fell behind 1912 Sales in the Capt.
tai were up per cent.
Real Estate Bonds Higher.
October marked the 18th consecu-
tive month in which 200 Eastern
real estate issues used in the Amott-
Baker averages continued their up
ward movement, showing a gain of
per cent and a gain of 2l8 per
cent for the year to date.
National Press Building adjust
ment income 41as gained 2 full
points during the month, carrying
a bid of SO, while National Press
3-5s, 1850, at 9712 were up III
points. Mayhower Hotel SIS, at
1852, were unchanged. Washing
ton Properties Is were down half a
point, selling at 30.
Among the 200 issues hotel and
apartment bonds continued as lead
ers. Hotel issues have advanced 80
per cent SO far this year and apart
ment issues 81 per cent, the survey
states.
Market Factors Reviewed.
The writer of the weekly marke
letter of Loeb, Rhodes & Co., say!
tax selling on the one hand ane
postwar problems on the other have
caused desire among security hold.
ers to trim sails. Facing the curren
misgivings, he says the appointment
Of Bernard Baruch and the attitude
of Congress in regard to adjustment
Of postwar contracts should give as
surance that these problems will be
dealt with realistically and without
SiIlOdI dSolliCllG W Cllc llldIly 4llouo-
tries involved.
The Moscow conference" the let
ter adds, should reaSsure us regard
ing the international political sit
uation. Our domestic Political out
look promises we'll After the war
there is prospect of peace more en-
during than ever before in the his
tory of the world. The transition
stage is apt to be followed by an
era of reconstruction which will
strain our industrial facilities. Ger.
tainly this is no time to lose cour-
age"
Certificate Exchange at Par.
The Federal Reserve Bank o.
Richmond today notified the Dis
trict banks of the regulations gov
erning the refunding of the Treas
ury Is per cent certificates serie!
E-l943 for the new Treasury serie
G-1944 70 per cent certificates a
par.
Capital bankers today lauded tn,
Treasury announcement that tn,
goal in the Fourth War Loan Driv
will be $4,000. 100000, or a billion
less than In the recent campaign, a
they feel that the quotas should no
he set too hiph F'inancierS Uil