Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-07-30
Building and Loan
Resources Rise 10
New Peak Here
By EDWARD C. STONE.

BY EDWARD C. STONE.
Aggregate resources of the rs
member associations comprising the
District of Columbia Building and
Loan League amounted to $186, 988. :
1913 on June 80, Secretary F. Wilson
Camp reported today, an increase of
s11,062 1888 during the year. as COM
bined assets stood at SITS ,926, 435 on
the same date In 1912.
A continued gain in United States
Government holdings was noted, the
member associations having pur-
chased for their own accounts $l0.-
302,535 up to June 30, as compared
with q portfolio of So 1907 $40 on May
81. A year ago United States securi-
ties held amounted only to $2,038, STA.
Shareholders deposits increased
steadily, Mr.. Camp stated, rising
from 3153,329,213 last year to $780,
O08,719. During the month of June
nearly $2,5O0,000 was added to the
share accounts.
While applications for mortgage
loans reflected the dearth of home
building and construction, the sub
stantial volume of $2,764, 160 was ap-
proved by the associations during
the month, a decline of SOS ,283 from
May.
In the first six months of this
year construction loans totaled ST.
65o,038 against s5,109,478 year ago;
mortgage loans on new houses
amounted to s8,244,366 compared
with $9.927, 276 in the first half Of
1912: and other loans totaled So
303,564 vs. $8.337,899 in the like
1912 period, making total for the
six months Of $16,l98,0l3 against
$23.374, 653 a year ago.
Closed accounts reached new
low mark in June, Mr.. Camps
statement concluded.
Crowley Stresses Insurance.
The Federal Deposit Insurance
Corp is offering to banks free
matrixes for advertising, leaflets,
window stickers and posters, en-
phasizing the slogan In war as
in peace, your deposits in this bank
are insured the aim being to fea-
ture bank deposit safety. In small
er type, the notation is made that
bank accounts are insured up to
5000.
In letter signed by Chairman
Leo T. Crowley, such advertising is
urged to help maintain public con-
fidenoe in the FDIC." The advertis-
ing is considered a patriotic move
and might also prevent boarding,
the letter says.
Baltimore Deposits Climb.
Deposits of Baltimore banks
reached an alI-time high on June 30
of $1088, 703,282, an increase of
$225.528.37l during the year. The
and savings deposits. Mutual saw
ings banks reported s244,000 900 In
deposits on June 80 against $22l,-
100000 year ago.
D. C. Stores Orders Soar.
Outstanding orders for goods
placed by Washington department
stores were 1875 per cent higher at
the end of June this year than a
year ago, the Federal Reserve Bank
OF Richmond reported today.
Stocks of goods on hand at the
end OF June were Is per cent lower
than in the comparative date a year
ago. the report showed. Average
store inventories in the whole fifth
district were down 10 per cent.
OF the current bills due on June l,
50 per cent were collected during the
month, compared with so per cent
year ago.
OF the installment receivables as
OF June l. "a per cent were paid
during the month. the report said,
with Is per cent as the average for
the fifth district.
Simms Moved TO Seattle.
David E. Simms, immediate past
president Of the American Institute
of Banking, a personal friend of
many members of Washington
Chapter, has been transferred from
the Salt Lake City branch of the
Federal Reserve Bank of San Fran
cisco to the Seattle branch He was
assistant manager in the Salt Lake
Office and will hold a similar position
at Seattle
Mr.. Simms was member of the
Executive Council when elected
president of the institute in 1912
He is now ex-officio member of the
council and chairman of the Budget
Committee.
The July Bulletin of the American
Institute of Banking prints all COM
nittees for the coming year, ap-
pointed by President David L. Colby.
The list includes Walton L. Sander
son, Hamilton National, member of
the Chapter Administration Com
mittee, Leona E. Draeger Wash
1ngton Loan e. Trust Co., National
Women's Committee. and j. Earle
McGeary, Hamilton National. Public
Relations Committee Mr.. Sander
son is a member OF the Executive
Council, his term expiring in 1945.
Financial District Comment.
Washington Gas Light SIS pre-
ferred stock sold at 1866. on the
washington Stock Exchange today.
l943 peak. The stock sold ex-divi-
dend, IS shares changing hands.
The stock is now nearly eight points
higher than the low for the year,
3d.. Today's final bid was l06ls
with 1867 asked.
r. w. Santelmann. secretary of
the Metropolis Building Association,
has been made a member of the
United States Savings and Loan
Leagues State Section Committee
which deals largely with problems of
the building and loan associations
operating on State charters.