Evening star. [volume] (Washington, D.C.) 1854-1972, 1948-08-18
Is Per Cent Increase
Disclosed in Assets
OF Loan Associations
By Nelson M. Shepard

COmDlned assets OF the II savings
and loan associations composing the
District of Columbia Building anc
Loan League totaled $346, 375 900 or
July 30. for a gain of nearly Is pei
cent over the same date of 1947, the
league disclosed today.
In a report rejecting wholesome
increases all along the line for the
year. F. Wilson Camp. secretary
noted that the assets compared with
S307,1l6.00O on July 30 1947, a galr
Of more than s39.25o000.
A large part of this increase was
due to rise in the number Of in
dividual accounts. Mortgages hello
reached a new peak.
Accounts Up S19.676,000.
Savings share accounts main
tanned by individual investors
amounted to 1921 600. 900 and were
up Sl9,676000 over a year before
Mr.. Camp reported that l65,39l peo-
pie carried savings share accounts
with the associations. That repre-
scented an encouraging increase OF
6,819 accounts in the II months
comparison.
Mr.. Camp pointed out that appli.
cations for first mortgage loans re-
f1ected new high with more thar
S49,000,000 being advanced by the
loan groups for construction loans
purchase of homes and refnanclng
The grand total of mortgages
held in the 81 loan portfolios hit a
record peak of S319,515,9l7.
Surplus and reserves rose to S28,-
100000 an improvement OF S2,75O,-
900 during the past year.
Woodward g. Lothrop, Inc, direc-
tors this week declared regular
dividend of so cents on the common
and SIPS on the preferred. Both
are payable September % to stock
of record September l6.
Government Leases Space.
The Public Buildings Administra-
ton, which is still very much In
the market for additional office
space in Washington, has leased
$4,000 square feet of space in the
old Barber g. Ross Building, Elev-
enth and G streets NV. An an
nual rental of $4,000 will be paid
for use of the radio research lab
oratories of the Bureau Of Stand
ards. The laboratories will occupy
the second to seventh stories OF the
eight-story building.
Hilton Hotels Corp, which con-
trolls the Mayhower Hotel, today re-
ported that gross revenue continued
to rise in the first half of this year
but increased costs resulted in
somewhat lower profit margins.
For the first six months gross
revenue amounted to 21,2l4.749, an
increase of S354.83l over the same
1947 period. Net income totaled
s2O97,127, equal after payment OF
dividends on convertible preference
stock to S1.20 a share on the l.
6l6,397 common shares outstanding
Perpetual Is Dressing Up"
Perpetual Building and Loan
Association, Eleventh and E streets
NV, is another one of Washing
tons financial institutions that is
dressing up its interior. The
painting job in the first-floor quar-
tiers will be completed soon and the
renovation will add ~ attractive
new look" with which to begin fall
operations.
A little matter Of three ciphers
being dropped inadvertently in yes
terday's column made big differ
ence in the average daily deposit
of the National City and Anacostia
National Banks as reported. The
paragraph correctly reported an in
crease of s425 900 in the deposits of
the two banks in the last half of
June over the last half Of May. But
the reported total deposits of s22.-
038. of course, should have read
2,038 900.