Evening star., 1944-07-31
Sharp Increase Seen
In Mutual SAVINGS
Bank Deposits
BY EDWARD C. STONE.

BY EDWARD u. SIONE.
Isaac w. Roberts, president o.
the National Association of Mutua
Savings Banks, today reported ar
increase in deposits in mutual bank.
in the first half year of $72l, ,060 SIG
bringing total deposits to $12,428..
OBS. .564.
He credited the huge gain to in.
dividual thrift on the part of thu
American people who are provid.
ing themselves with capital for tn,
future and at the same time givins
full support to the war efforI
through the purchase of War Sav.
ings Bonds.
Combined assets of the mutua
savings banks showed gain O.
more than $8l6,OO0,OO0 in the 81,
months and there was an increase
OF 39O,524 In the number Of de.
positors, Mr.. Roberts reported. TIL,
same banks conduct Christina.
savings clubs, reporting great in.
tereSt in these special accounts. The
average account in mutual bank.
In II States now stands at $942.33
the survey stated.
Loan Preparedness Urged.
Directors of the United State.
Savings and Loan League have sent
recommendations to Washington
building and loan associations urg-
ing special study and preparedness
to take the lead in many loans to
returning war veterans under Title
III of the G. l. Bill of Rights.
Each association Is advised to take
whatever steps may be necessary to
handle these loans, especially those
relating to home ownership.
The meeting of Governors ir
Chicago was attended by Henry P
lrr OF Baltimore, second vice presi.
dent of the league, and president OF
the Maryland Building and Loar
League: Another member present
was j. r. Stevens, Greensboro, N. C.
VINO represents the associst tions in
this area.
Penn. Central Stock Climbs.
Penn. n.-Central AirlineS stock
aroused lot of interest in the
boardrooms today when it reached
new high for the year on the New
York Stock Exchange Early in the
trading it touched 17l2, up IS. The
turnover was heavy.
Revenues from leases of safe de-
post boxes in June amounted to
$537 1923, an increase of $116, ,470 over
June year ago, the Revenue Bu-
reau reports. Revenues in the half
year totaled $6,593,674; gain OF
S523,578.
Hecht Co. common closed last
week at 2ll4 on the New York Stock
Exchange. The low for the wear is
2034 and the high 22l2, the stock
having been on the board a month
Federal Reserve Board officials
are studying proposed regulations
governing redemption of War Bonds
by commercial banks. The new plan
is expected to 60 into effect in less
than two months.
Financial District Comment.
Department stores sales in the
Richmond District from January l
through July % were per cent
ahead of the same 1943 period
against a national average gain OF
per cent.
The technical committee of the
Gray Iron Founders Society. ma
tlonal association of manufacturers
OF engineering gray irons, will hold
its fifth 1914 meeting at the asso-
cations Washington Office Wednes-
day.
Women purchased one of every
three policies issued by the Penn
Mutual Life Insurance Co. in the
hrst half OF this year, and one out
OF every five was issued in juveniles
under Is years of age. There were
243 war casualties among policy
holders: The company now has
more than one-third of its assets
in Government securities.