Evening star., 1943-02-24
Building and Loan
Assets Up Further
Here in January
Increase of $500, 900
Revealed by Wilson's
Monthly Report
BY EDWARD c. STONE.

Assets OF the 20 associations COM
prising the District of Columbia
Building e. Loan League, gained
nearly $5O0O00 during January, ac-
cording to the monthly statement
Just made by Secretary F. Wilson
Camp. Resources reached S16l280.-
600 at the end OF the month, an in
crease of s7736,0O0 over January.
1912.
The combined statement showed
an increase in new share money
during the year of 1908 ,465, bring
ing this total to S162 .092. .476, Mr..
Camp said. Rejecting the rise in
share money, a substantial rcduc-
ton in the amount borrowed from
/ the Federal Home Loan Bank and
other leading agencies was noted,
rediScountS dropping from $4,000 900
to $4,000 900
Government bond purchases in
creased during the year from ST.
$4,000 to $5843 900, rejecting ef-
forts of the member associations to
aid in the war financing During
| 1943, the league members have
/ oS5i NCt w BlNL OIiOSG~ lUI tliClI bNU
portfolios three times the amounts
taken in 1912
| The downward trend in home loan
/ applications continued in January.
Loans approved during the month
| amounted to $248l.561, compared
with s3,586,117 a year ago. Nearly
/ 1,100 new accounts were opened in
/ January about the same as a year
| ago, Mr.. Camp stated, but fewer
/ accounts were closed.
The report was made at the
monthly meeting of the league at
/ the Raleigh Hotel yesterday.
Huge Tax Increase Predicted.
! Maxwell E. Mcdowell, head of the
/ tax department of the Standard Oil
/ Co of New Jersey, told the District
of Columbia Control of the Control
lers Institute of America at the
/ Carlton Hotel last night that the
/ estimated revenue from the 1912
tax bill would be about $35,OO0,-
100000, or an increase of $4,000
100000 over 1941
He predicted that the new tax
bill to he enacted for l94c will bring
probable increase of SIS 900 900 900.
Some modification of the Ruml plan
will be included in the 1943 act, he
declared
While speaking on The Revenue
Act of 1922 covering both individ-
ual and corporation taxes, he in
cluded some most timely observa-
tions on the form the 1943 tax bill
seems most likely to take.
Columbia Control was honored by
a visit from T. c. McCobb, national
president of the institute, and J. A.
Donaldson, past president. Balti-
more Control sent large delegation
to the joint meeting, the most sue
cessful yet held
Accountants Year Book Out.
The District of Columbia Insti-
tute of Public Accountants has Just
published the 1923 year book, the
most elaborate yet put out. The
present officers are Maurice A. Mar
tin, president; Millard T. Charlton,
vice president; Henry A. ONeill.
secretary and Hartwell S..
Tucker auditor
The board of governors is CON-
posed of William Gordon Buchan-
an, M. T. Charlton, James E. Gillis,
Maurice A, Martin Joseph K. Meyer,
j. Henry Oehmann, H. A. ONeill,
John B. Payne and Julius Sinker.
The book includes all standing
committees, past presidents, COM
plete present membership, rules of
the Board Of Accountancy for the
District of Columbia, also the insti-
tutes bylaws.
Woodward Preferred Climbs.
Twenty shares of Woodward &,
Lothrop preferred stock sold. at 122
on the Washington Stock Exchange
today, first sale this year and up two
points from, the last transfer in 1912.
The market closed with 1l8 bid and
none offered at any price.
Mergenthaler Linotype figured In
a 5O-share turnover on the exchange
today. The market opened with five
shares selling at 40. off half a point
from yesterday. Ten and 35 share
lots then sold at 40l9. The DAYS
final bid was 10, with IL asked.
Potomac Power and Washington
Railway & Electric preferred stocks
and Lanston Monotype are being
quoted eX-dividend. The usual dis
oursements will be made in few