Evening star., 1943-05-17

o. e. Mccall Money AS a
Sinew of War" Another speaker
will be Rowland R. Hughes, con-
troller of the National City Bank
New York. Jabez H Wood of New
York, an investment counselor, will
speak on Managing Managed
Money" Ration banking will be
given special attention
The annual report of President
Mccall will be presented on Thurs
day morning. followed by reports
from the most important standing
committees. Election of officers is
scheduled for $50 in the afternoon
followed by a meeting of the EXecu-
tive Council.
In addition to President Mccall
the present officers include w. A.
Roper. Bank of Commerce q Trust
Richmond, first vice president
Charles T. ONeill, president of Ma
tional Bank e. Trust Co.. Charlottes-
vile, second vice president, Thomas
d. Neal. Richmond. secretary and
treasurer, and Mrs. Elizabeth Lam
mic. Richmond. assistant secretary
The annual dinner will take place
on the evening of June 9 and a
special luncheon is set for June 10.
Two New Officers Elected.
Stanley D. Willis, trust officer of
the National Metropolitan Bank
has been elected vice president of
the Home Building Association, to
succeed the late c. Edward Beckett
and Bright R. SOnen for MANY
years a director, has been named
treasurer to succeed the late Will
liam K. Reeve, Secretary James M
Woodward announced today.
At the same meeting, Charles L.
Norris and G.. Morris Steinbraker
were elected to fill vacancies on
the board of directors.
The association, organized in
1898, has maintained steady growth
especially in recent years.
Jones on National Committee.
F. K. Jones. secretary treasurer of
the Interstate Building Association
received word today of his appoint
ment as a member of the 1943 United
States Savings and Loan League
Committee on Construction Loan
Policies and Procedures.
He will be l Of 36 loan executives
chosen from all over the country
with dual purpose Their imme-
diate work will be shaping the pro-
gram Of participation in the con-
or of Sc, 10
duration. They have already sup
pied the money for 100000 new
houses in crowded areas since the
defense program began three years
ago.
The committees long term pro-
gram will look to postwar housing
both the type Of housing and the
kind of financing which will be re-
quired.
Home Loans Decline.
Insured building and loan asso-
Citations in the District of Columbia
made home loans totaling S1.449 SOC
during the first three months OF
l943. as compared with S2O68 100 in
the first quarter of 1912. Oscar r
kroutz. general manager of the
Federal Savings & Loan Insurance
Corp, announced today On March
81 home mortgage loans on the books
of these institutions totaled S40,-
S53000
The building of new homes is
now restricted to housing for in
coming war workers in industrial
areas, bringing a sharp decline n
new construction loans in most
States. AS one result, in the Dis
trict of Columbia. insured aSsocia
tionS during the January March pc
riod made increasingly heavier pur-
chaSes of War bonds and other
United States Government obliga :
tions. From December 81 to March
81 they increased their holdings OF
Government bonds from 81 ,080 00C
to S1,503 900.
There are II insured associations
In the District.
Clark Long Financial Leader.
The death Of Allen C. Clark
founder of the Equitable Life In
surance Co. of Washington, caused
deep regret in the financial district
He died at the age of IS years.
He made a brilliant record with
the insurance company. for many
years being considered one of the
financial districts leaders. He was
director of the National Capital
Bank and for many years trustee
Of the Columbia Title Co, He rem
dered this organization particularly
valued service as a member of the
Executive Committee.
He will be long remembered by
his associates in the building ano
loan field and by the civic organi-
cations he served
Lanston Scores New l943 Top.
LanSton Monotype reached a new
1o43 peak on the Washington Stocl
Exchange today when five lO-share
lots sold at 33. up 5 fun points
Later 1oo shares sold at 32'2.
Merscltnaier Linotype also ap.
peared on the board today. with 81
shares moving at At, against The
recent nigh of 40. The marke'
cloced With 46 hid ans, 50 asked.
Richard H Stout Of Washington
president of the Morris Plan Banker.
Association, was TO address thu
American Industrial Bankers Asso.
citation i'll Chicago tooay on tnt
Necessity Of Protecting Industria
Banking From UrSound Banking
Theories"
The coal situation was the center
OF most Of the conversation toda,
in the New York Stock Exchange
boardrooms which were filled to tn,
last seat. Brokers reported a lot O.