Evening star., 1946-02-19
Winston-SaIem Bank
Reports Big Gain
In Mortgage Loans
By Edword c. Stone

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Nonfarm mortgage financing In
the district served by the Federal
Home Loan Bank of Winston Salem
totaled $570,000,000 in l945, an in
crease of % per cent over 1914 and
the highest total since the depres-
sion, o. K. La Rogue, president of
the bank, reported today The figure
for mortgages under $4,000 covers
all types of mortgage lenders, in
cluding individuals as well as finan-
cial institutions.
The sharp rise is largely the re-
suit of the demand for homes in
many congested areas during and
since the war, the report said. The
average mortgage amounted tc
S3,l79, an increase of 81 per cent
over 1914.
Building and loan associations re-
tained their position as chief source
Of home mortgage credit in this dis
trict, reporting loans equal to 36.5
per cent of the total of all classes
of mortgages, the estimates being
based on reports compiled in Wash
ington. The review embraces the
District of Columbia, Maryland
Virginia, the Carolinas, Georgia
Alabama and Florida.
Savings and loan associations ir
this territory made mortgage loans
amounting to $207, ,S74,000 in 1945;
insurance companies, . $33, 3,510 900;
banks, $75,574, 900; mutual banks
S1,92l,000; individuals, $196, ,448, 900;
miscellaneous, S54, ,695, 900.
Washington Gas Sales Drop.
Sales of the Washington Gas
Light Co. in January showed slight
decrease from the same month a
year ago due to the warmer weather
prevailing this year, officials report
ed today. January sales totaleo
2,480,795 cubic feet as compared
with 2,518,l33 mcf. in January OF
last year, decrease of 1888 mcf
or 48 per cent. The December re-
port showed gain of 1923 per cent
Washington Gas Light common
selling at 33, has just reached an
other new 1916 high mark on the
Washington Stock Exchange. Capt.
tai Transit stock opened the week al
new 1916 peak, 36ls. The bid for
Hecht common advanced following
Viz 4StO1t va q Sc4ll Va PCl CCllt
in sales for the quarter ending
January 81, over the like period q
year ago.
Settlements aggregating $1,587,-
394 on Cancelled commitments total
ing $8,925,0 were allowed 1925
claimants during November, Decem-
Der and January by the Contract
Settlement and Surplus Materials
Division of the United States Mari
time Commission, it was announced
today. OF the claims settled, zoe
were received and settled within the
90-day period.
National Official to Speak.
Members of the District Under
writer's Association feel highly hon.
ored to have James E. Rutherford
executive vice president of the ma
tional association, as headline
speaker at the joint session with
Baltimore insurance agents at the
Mayf1ower tomorrow. He was gen.
eral agent of the Penn Mutual il
Seattle before taking his present
position. He will be heard by 50(
insurance leaders in this territory.
Banquet Seats Number 1,010.
Reservations, now closed, for the
American Institute of Banking ban
quet Saturday night at the May
flower number 1,010.
1t. Comdr. John w. Burke, jr., ha'
been named legal assistant to Vic'
President r. j. Wilson of Penn-Cen'
tral Airlines. Before entering tht
Navy, he was with Mckinney, Elan
merry & Craighill.