Evening star., 1950-11-01

BullQlng II u
Loan League
delivered by
Secretary F.
Wilson Camp Mr. camp
at the leagues annual meeting at
the Shoreham. AS to the extent
of the change, we can only guess,
said Mr.. Camp.
Member associations OF the
league made $122 million in new
loans in the year, of which around
rs per cent were for construction
or purchase of new homes. This
was well above the $79 million in
the year ended September 80.
194e, and almost equal to the rec
ord of $124 million for the year
ended September 30, 1948. The
1949 dip was ascribed to fears OF
over building here.
The % associations now serve
more than 250,000 individuals
with share savings Of around $339
million, both new records. Assets
of more than $406.5 million and
outstanding loans Of 1868 million
also were new highs.
Fred A. Smith. president. and
all other officers and members OF
the executive council were re-
elected for second term. The
Treasury's Award of Merit was
presented to the league, and DR..
Murray Banks of New York gave
q humorous talk on mental health.
Construction contract awards In
the Washington metropolitan area
in September totaled $40,014,000,
2 per cent less than $40. 1858, 900 in
August, and 80 per cent less than
in September, 1949. it was re-
ported by E. H. Keefe, Washing
ton branch manager for the F. w.
Dodge Corp.
This brought the areas total for
nine months of 1850 to $286, ,003,-
900, or 10 per cent above last year.
Residential contracts at $24,-
258,000 were II per cent below Au-
gust and 80 per cent below Sep
tember, 1949. but brought nine
months total ahead Of the same
1949 period by 81 per cent.
Directors To Be Reelected.
Four directors of the Equitable
Cooperative Building Association
were expected to be reelected at
the associations annual meeting
this afternoon.
They are: Charles H. Doing,
former vice president of the Wash
ington Loan & Trust Co., Alfred
H. Lawson, president Of the Wash
ington Loan & Trust Co.; Robert
L. Lewis, vice president of Steuart
Motor Co., and Frank j. Stryker,
former president of Columbia Ma
tional Bank.
Revenue passengers carried by
American Airlines out of National
Airport during October increased
31z per cent over the previous high
in June, according to Herbert D.
Ford, district sales manager.
Americans Washington traffic last
month was 80 per cent above Oc-
tober. 1949.
Reminder for Bond Buyers.
The District Savings Bond Divi-
sion today reminded eligible pur-
chasers that they will be per-
mitted to buy additional series F
and G bonds in the special offer
ing periods, starting today
through November 10, and from
December / through December II.
Eligible purchasers will be per-
mitted to purchase further
amounts during the above periods
in excess of limitations, up to a
total aggregate during three pc
riods of 100000 in the case of
eligible commercial and industrial
banks and 81 million in the case
of all other eligible institutional
investors.
Sales of F and G bonds in the
nine Federal Reserve districts to
all types of investors during the
October period were 1921. .456, ,9O2
OF which commercial and indus
trial banks purchased 1862, ,712, 1892
or more than half. Bank pur-
chases of G bonds were 1927, ,O29,-
500.
Purchases within the Federal
Reserve District of Richmond
which includes Washington, were
$31 ,672, ,582 in F and G bonds, of
which $25. .927 300 were in Series G.
Express Shipments Rise.
Air express shipments in and
out of Washington totaled 1852
in the first % days of October, a
gain of 2.3 per cent from a year
earlier, the Railway Express
Agency announced. Gross reve-
nues of $29,071 were 1913 per cent
higher.
Barron's, national business and
financial weekly, has opened q
separate Washington Office in
charge Of Felix Morley, veteran
Washington correspondent and
former editor of the WASHINGTON
Post. He will be assisted by Mrs
Evelyn L. Freer. formerly business
manager of the weekly analysis
Human Events.
Howard Allen has been named
assistant manager of the Eastern
division of National Transitads
Inc. The division has Offices ir
Philadelphia, Baltimore anc
Washington.
The new Unicel freight car Of
Pressed Steel Car Co. made it.
Washington debut at Union Sta.
ton yesterday. Built of plywood
the new car has proven stronger
than ordinary boxcars in test
conducted by the Association O,
American Railroads and Armou,
Institute.