Evening star., 1950-04-24
Sharp Gain in Loans
Reported by Building
& Loan Associations
By Edword G, Stone

Wy 6QWoIu 49, StOtC
Washington's 27 building and
loan associations reported today
that loans granted to home buyers
and builders in this area during
the first quarter of 1850 totaled
$26,536,180, almost double the
amount approved in the same
period of 1949.
The number of applications for
new construction, purchase of
property, etc., were 10 per cent
greater than year ago. F. Will
son Camp, secretary of the Dis
trict Building and Loan League,
announced.
The associations in the league
now have a total of 1881 ,483 500
in first mortgages in their port
folios, Mr.. Camp said.
The same associations have
100000 investing and borrowing
customers on their books, a new
record.
Oil Stock Popular Here.
The annual report of the
Standard OIL Co. of New Jersey,
out today, shows 2,679 stockhold-
ers in the District of Columbia,
only 18 states having a higher
number.
New York has the highest num-
Der, 1921. Massachusetts has
21,991 and New Jersey 1898.
Pennsylvania lists 1929. Among
the companys total investors are
$4,000 individuals, 24,250 estates
and trust funds. 3,088 churches,
schools and charities.
Stockholders totaled 215,010 at
the end of 1949, with holders in
every state of the Union and
1884 in Canada.
Council Meeting Opens.
The business session of the
spring council meeting of the
American Bankers Association
opened today at French Lick, Ind,
$50 bankers being present. Com
mittee reports were due to take UP
most of today's program. Oppo-
sition to the transfer of the Con-
troller of the Currencys office to
the Treasury Department was
down for further consideration.
Members of the council are in
terested in the election of the first
vice president at next Falls an
nual convention. A four -cornered
contest has already developed, one
of the candidates being C. Fran
els Cooke, president of the first
National Bank of Roanoke. Va,
and former president of the Vir-
ginia Bankers Association.
New Rates Now In Effect.
FILA interest rates on Title II
insured loans were reduced today
from Az per cent to 4A, accord
ing to announcement by Admin
iStrator Raymond M. Foley.
The Security Storage Co. will
give a dinner at the Burlington
Hotel Thursday night in honor of
Charles l.. Mattimore, superin-
tendent, and John Burner. head
of the rug storage department,
who have just completed Is years
with the company. They will
join the IS Year Club, President
C. A. Aspinwall said.
Whitney w. Irons, of Seabrook.
Md. a member of the. Stockhold-
ers Committee of the PennSyI-
vania Railroad. will attend a.
meeting of the committee in
Philadelphia, Thursday. Company
officials will outline the annual
meeting set for May 8.
Kent Institute Speaker.
Fred 1. Kent, first national pres
ident of the American Institute of
Banking, will be the chief speaker
at commemorative 50th ami
verSary program at the annual
convention in Minneapolis in
June.
Hartwell F. Taylor will preside
at the national convention, which
will be attended by a large Wash
ington delegation. The institute
has reached the highest enroll
ment on record during the present
year.
The Maryland Bankers AsSo-
cistion is endeavoring to have
every bank in the State repre-
sented at the Atlantic City con-
vention on May 1915.
A study of tax-exempt State and
municipal securities is being dis
tributed in the financial district
by c. j. Devine & Co.
The investment firm of Peters
& Bryson, in the Southern Build
ing. will be closed tomorrow after
noon out of respect to the late Dr.
Samuel z. Bryson, sr., father of
one of the partners.