Evening star., 1947-01-12
b Plus extras.

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from the October record figure, Fed
eral Home Loan Bank officials re-
ported yesterday.
Oficials believe the upward trend
has been arrested. The total was
IS per cent higher than In Novem-
Der, 1945, indicating recession from
the 100 per cent increase in Septem-
ber and 81 in October.
Mortgage lending in the first IL
months of 1916 totaled Sc, ,573, ,000,-
600, a gain of SO per cent over the
like 1945 period. Commercial banks
and mutual savings banks showed
the greatest rise, $50 per cent.
Building and loan associations had
a IA per cent upturn.
Loan Payments Impressive.
A 99.8 per cent perfect record on
paying monthly installments on
home loans is the performance of
veterans who have borrowed from
building and loan associations and
cooperative banks, according to
Walter w. McAllister, head of the
United States Savings and Loan
League.
A survey showed only SO out Of
1892 associations had any veteran
borrowers as much as 80 days. be-
hind in their payments. Up to Sep
tember 80, some 1918 loans had
been made to World War II vet
Grams, for a total Of 81, ,054, ,000,O 900.
The District OF Columbia and in
stitutions in % States reported no
delinquencies whatever among GI
borrowers.
Bond Financing Up Sharply.
New State and municipal bond
financing during December totaled
$171 ,903, ,031, or over twice the $685.
673,838 figure for the corresponding
month in 1945, the Daily Bond
Buyer reported.
During 1916, new State and mu-
nicipal financing amounted to
$1,000, OLE, 400, as compared with
$818, 781, ,728 in 1945. The 1916 total
is the largest yearly record since
1941.
Bankers at Norfolk Dinner.
About 20 members of Washing
ton Chapter, American Institute of
Banking, were guests at the annual
banquet last night Of the chapter
at Norfolk. This was the first of
long series of institute dinners
in this territory. Baltimore Chap
ter has a dinner next Saturday
night. Washington Chapters an
nual party comes on February %,
plans already being made to pro-
vide for 1000 guests.
Joseph T. Mackey has been re-
elected president of the Mergen-
thaler Linotype Co. and William j.
Flather, jr.. of Washington, vice
president.
Mortgage Loans Show Gain.
The First Federal Savings & Loan
Association made a net increase of
s1,115,064 in mortgage loans during
1916, c. H. Ellingson, president, re-
ported yesterday. Share accounts
revealed net increase of 81 ,891 ,265,
he said. A total of $278,379 was
transferred to reserves.
Charles P. Mccormick, president
of Mccormick & Co., Baltimore,
newly appointed deputy chairman
of the Federal Reserve Bank of
Richmond, is former chairman of
the board of the Baltimore branch.
He has been director of the Rich
mond Bank since 1899.
More E Bond Sales Urged.
Morris M. Townsend, director of
the Savings Bond Division of the
Treasury, is urging greater efforts
in the sale of E Bonds. Investment
bankers, brokers and security deal
ers have a million customers who
could easily buy $1,000 or more Of
Series E Bonds each year and an
other estimated 5,000,0 900 who could
buy 500 bond each year.
Every solvent American should
own E Bonds, he declares. The man
with a large current income should
also buy Series F Bonds and persons
so years of age or older should have
funds in Series G Bonds.