Evening star., 1945-01-22
Bank Loans Register
Sharp Expansion in
Fifth District
By EDWARD c. STONE

=
Bank loans reveal sharp upward
turn in the fifth Federal Reserve dis
trict, according to the latest month
ly survey by the Richmond Reserve
Bank. Loans of Al reporting insti-
tutionS on December 13 amounted
to 1888, 725 600, gain of $64, SOC, ,00O
over the same date in November anc
s83,27l, 900 over December IL, 1943
Security holdings of the ii banks
totaled 81 sos 1862 900 in December,
1914, an increase of $157 ,567 900 over
November Is and $266 1886, 900 over
December, 1943, the Richmond bank
states. Assets gained $3.50, ,065 200
over November ard were $3.50 ,604 600
ahead of December, 1943.
Debts to individual accounts in
Washington banks in November
were l6 per cent higher than in the
same 1943 month and up per cent
in the IL months. &.sa
Wholesale Trade Improves.
Wholesale trade of 244 firms in
the fifth district showed an average
gain of per cent in November over
the same l943 month, industrial
supplies topping the list with a "a
per cent better demand.
Hardware sales were up IL per
cent; auto supplies. Is; drugs and
sundries, 8; dry goods, 8; groceries,
7; tobacco products, !, and miscel-
laneous sales of 86 firms, 3 per cent.
Sales of electrical goods were
per cent under last year and paper
and paper products, per cent.
Two Promotions Announced.
At the 44th annual meeting of the
Northwestern Federal Savings g.
Loan Association the directors
elected Richmond H. Gibson secre-
tary in addition to his duties as
treasurer. James E. Harrell was ad-
vanced to assistant secretary How
ard S. Gott, president; Houston
Jones, executive vice president, and
Hyla r. Smith, assistant treasurer,
were reelected.
The annual report showed that
resources passed the $1,000 900 mark
for the first time, with reserves and
undivided profits totaling $4,000.
The Investment portfolio included
$1,058,00o in Government war Sc
curities.
Real Estate Bonds Higher.
Washington Properties rs and Ma
tional Press Building Az gained a
full point during December, ac-
cording to the Amott-Baker price
survey, out today. The final bid for
Washington Properties rs was 991a
and IS for National Press AZ. Ma
tional Press 3-5s were unchanged.
The average price of all bonds in
the list Of 200 for December showed
a 212 per cent increase to place
these issues at the highest point in
more than a decade. The December
advance carried the average price of
each 81, 900 bond to S521 compared
with $429 at the close of 1943. Bonds
have increased for 80 months, the
1914 calendar increase being 27.3
per cents
Institute Glasses Open.
Banking classes in Washington
Chapter. American Institute of
Banking, open for the second semes-
ter tomorrow evening. One class
starting tomorrow evening is COM
mercial law. taught by Wilbur NJ
Baughman and another is money
and banking, in charge of S. L..
Sirnonian Fundamentals of bank
ing will be taught by Ralph Endi-
colt. -.- -.,-
Potomac Electric Power per cent
preferred registered the first l945
sale on the Washington Stock Ex-
change at 1922. Potomac Power
51a per cent preferred, at 1095s, was
unchanged. Gas SIS preferred, Mer-
genthaler and Columbia Title sold
just under recent levels.