Evening star., 1944-05-21


ton, membership being limited to
underwriters who have passed all
examinations of the American COL
lege of Life Underwriters and met
other rigid professional require
ments.
Arrangements for the wartime
conferences are In the hands of H.
Cochran Fisher, a director and re-
gional vice president of the national
body.
Fahey Issues Price Warning.
A warning against a threatened
runaway price movement in urban
homes, accompanied by infiationary
mortgage lending on such properties,
was issued yesterday by John H.
Fahey, commissioner of the Fed
eral Home Loan Bank Admins
tration. He drew a parallel be-
tween present ascending price levels
and the boom" market of the
'20s, which collapsed in a tide of
foreclosures.
During the first three months
of this year, 1928 properties owned
by Hole borrowers were sold at
prices II per cent higher than the
HOLC valuations made about 10
years ago. On the average, these
properties are now more than 20
years old. These new prices do not
allow for depreciation or adverse
changes in neighborhood conditions
over the years.
Unless this dangerous course is
arrested, the postwar curtailment of
war production may bring a wave
OF foreclosures and seriously inter-
fere with the resumption of ac-
tlVlty in the construction industry,
a vital factor in peacetime adjust
ment," Mr.. Fahey said.
Controllers to Hear Brown.
Constantine Brown, foreign news
commentator of The Evening Star
and one of the best-known writer's
on international affairs in the
Capital, will address District of Co.
lumbla Control, Controllers Insti-
tute of America, at dinner meet
ing Tuesday evening at the Carlton
Hotel. There will be short recep-
ton at $50.
Mr.. Brown will speak on America
and the War" He has lived in
Berlin, Munich and London, and
was in the Balkans when the First
World War broke out. R. E. Heit-
muller will preside.
Sound Savings Aims Listed.
Depositors in mutual savings
banks have definite ideas on what
they will do with their money
when peace comes, a recent survey
shows, thrift aims of a large group
being summed up in these per-
centages:
Savings for future needs and
opportunities. 42.8 per cent; to buy
or build home, 1877; to refit present
home with new fixtures and fur
nlture, TT: to get married and
begin housekeeping, 6.1; to buy a
farm, "a; to buy new automobile,
g; to establish business, Al; to in
crease insurance. As to improve
education opportunities for chill
dren, 10.7.
Executive Committee to Meet.
The Executive Committee of the
District Building and Loan League
will hold its May session Tuesday
at 1890 at the New Ebbitt Hotel.
This is most important meeting
as the quota for the coming War
Bond Drive will be fixed
The annual meeting of the fiduci-
aries section of the District Bankers
Association will draw a very large
Wednesday evening, at
the MayfioWer Hotel, including Off
GERS of the parent organization.
Following the dinner Joseph c.
HarSch will speak.
Financial District Comment.
AS in Washington, insurance sales
in April in Philadelphia, Chicago
and Detroit were below last year,
while Boston, New York, Cleveland,
st. Louis and Los Angeles registered
advances.
From January through May 13
store sales in the fifth
district were per cent ahead of
l943. Atlanta district sales led the
country with 20 per cent gain.
Much activity is reported in
Railway & Electric
units, with the latest bid standing
at l4la, offered at Is ex-divided.