Evening star., 1943-09-30
Commerce & Savings
Reports War Loans
Above S16,000,00O
:. Nv EDWARD C. STONE.

Thomas j. Groom, president oi
the. Bank of Commerce g. Savings
told the stockholders at the an
nual meeting in Alexandria today
that. during the past year the bank
financed directly and with parti-
cipation by other banks total war
loans involving more than S16,000,-
600! These we're all regulation v
loans.
Mr.. Groom reported a decline in
total loans of 20 per cent from the
previous year. Commercial loans
were off because of war dislocations
and there was a sharp drop in per-
sonal loans, partly due to scarcity
of goods, Government restrictions
on installment lending and the
large number of men joining the
armed forces.
Stockholders were informed that
resources increased 81 per cent dur
ing the year and deposits of $9,229,-
1a1 were 40 per cent ahead Of last
year, the bank paid $40 dividend
and added So per cent of earnings
to- capital. On August % book value
stood at s526S6 a share, up $2l.29.
During the year the bank made an
increase of l46 per cent in United
States Government holdings, the re-
port showed,
Since the sale of Defense bonds
was launched in May, 194l, the
banks sales have amounted to
$4,324, TOO. During the war 471a per
cent Of the male employees have
joined the colors and the ratio Of
women to men now stands at an to
/, the preponderance of women
causing no impairment in service,
according to the report.
All directors were reelected, in
cluding George B. Burrus, William
L. Bush, E. T. Chewing, Theodore
Cogswell. James E. Collifower, A. E.
Giegengack, Thomas j. Groom,
Harry j. Kane. Frank Owings,
George M. Quirk, Donald F. Rob-
erts, M. D. Rosenberg and Joseph
Sanders.
Postwar Expansion Planned.
The industrial future of war pro-
duetion cities looks healthy, the
National Association of Real Estate
Boards reported here today in an
nouncing results of its survey of
industrial real estate conditions.
Two major trends have developed
among industries engaged in war
production that auger well for fu-
ture business activity in manufac-
turing areas, the association said.
These are: l. In 27 per cent of re-
porting cities, local industries are
already planning plant expansion
Of some kind after the war. 2. In
u per cent of the cities, war pro-
duction industries are investigating
possibilities of peacetime production
OF products not listed in their pre-
war production.
At the present intensive stage of
war production, the survey shows
there is practically no more usable
factory space available in IS per
cent of the reporting cities, But
there is usable space still to be had
in every geographical region of the
country, with big demand for such
space.
New Banking Hours in Effect.
Washington bankers were showing
deep interest today in the amount
of business which will be transacted
during the late banking hours which
60 into effect today when all banks
and branches will remain open from
4 to $50.
The banks will keep records of
the number of checks cashed, de-
posits, War savings bonds and
stamps sold, amount of change re-
quested, number of utility bills paid,
loans made, notes paid, savings ac-
tivity, inquiries about securities, in
formation at statement windows and
all other services rendered.
Bank officials said today they did
not expect any great rush of busi-
ness. Cashing of Government checks
will be by far the biggest item, they
said.
d. c. Store Stocks Lower.
Stocks of goods on hand in Wash
ington department stores at the end
Of August were Is per cent lower
than on the same date a year ago,
the Richmond Reserve Bank re-
ported today.
Outstanding orders for goods were
400 per cent higher than on the
like date year ago. Average orders
In the fifth district were up ITO
per cent.
Receiyables due on August 81 were
S5 per cent lower in Washington
stores than on August 81, 1912.
Collections on open accounts in
August were so per cent of the
amounts due at the beginning of
the month, while collections on in
stallment accounts were 25 per cent
Of receivables due on August /, to-
days report said.