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Wildwood Crest-Wildwood Crest B. and L., $40,000.00.
Elsewhere in New Jersey
Loans actually disbursed elsewhere in New Jersey, not including the very small communities, follows: Camden-West Jersey Trust Company, $750,000. Carteret-First National Bank, $174,655. Clementon National Bank, $119,000 Cliffside Park National Bank, $263,300; Cliffside Park, Title, Guarantee and Trust Company, $24,505. Clifton-Clifton Trust Company, $225,000. Collingswood National Bank, $185,000. East Orange Trust Company, Elizabeth Elizabethport Bank ing Company, $220,334.34; Elizabeth Trust, $531,688,31; Germania Mutual Savings Association, $195 400; The Mutual Savings Fund, Harmonia, $250,000; Union County Trust Company, $480,594.52 Gloucester City-Gloucester City Haddonfield National Bank, $275,000. Hoboken Trust Company, $854.960.17: Jefferson Trust Company, $661,955. Irvington Trust Company, $295,065. Lakewood-Peoples' National Bank, $175,000. Maple Shade-Maple Shade National Bank, $32.000 Metuchen Metuchen National Bank, $84,415. Morristown American Trust Company, $160,000. Moorestown Burlington County Trust Company, $400,000. Newark Central Bank and Trust Company, $118,562.92; Clinton Trust Company, $714,098.37; Newark National Bank and Trust Company, New Brunswick Citizens' National Bank, $133,700; New Brunswick Trust Company, $639,985 North Bergen Trust Company, $166,900. Orange Valley Bank. $146,000. Palmyra National Bank $35,000. Passaic Peoples Bank and Trust Company, $2,400,000. Paterson Broadway Bank and Trust Company, $342,594.15; Franklin Trust Company, $460,612.97, Hamilton Trust Company. $436,800; Labor National Bank, $750,000: National Bank of America, $126,700; Merchants Trust Company, $78,910.03; Security Trust Company, $49,500. Penngrove-Peoples Bank, $25,000 Perth Amboy First National Bank, $345,000; Perth Amboy Trust Company, $561,999.26; Raritan Trust Plainfield-First National Bank, $471.700; Midcity Trust Company.
$124,850; State Trust Company, $287,608.50. Riverton-Cinnaminson Bank and Trust Company, $100,000. South Orange South Orange Trust Company, $46,000. Trenton-Trenton Trust Company, $2,400,000. Union City-Commonwealth Trust Company, $932,300; National Bank of North Hudson, $915,000; Union City National Bank, $74,600. West New York-First National Bank, $499,710.
B. & L. Loans First Five Months Building and loan borrowings the first five months of the R. F. C. were numerous throughout New Jersey. Some of the actual disbursements in the larger amounts during the early period, outside of the Atlantic County territory which is carried in the table which accompanies this article, follow: Asbury Park-Asbury Park B. & L. Association, $493,053.36; H ome Building & Loan Association, $477.151.55; Neptune B. &L. Association, $200,000; Shore B. & L. Association, $148,828.02. East Orange, Third Ward B. & L. Association, $149,700. Elizabeth, Better Plan B. & L Association, $30,000; Independent B & L. Association $80,000; Merchants B. & L. Association, $75,000; Victory B. & L. Association, $59,Haddon Heights-Haddon Hts B. & L. Association, $90,000. Hoboken-American Homes B. & L. Association, $179.199.50; Esenbe B. & L. Association. $70,636.50. Jersey City-Bee-Hive B. & L. Association, $73,911.30; Business Men's B. & L. Association of Jersey City, $198,000; Greenville United B. & L. Linden-Fidelity B. & L. Association, $249,900. Long Branch-Monmouth County B. & Association. $148,600. Mt. Holly-Peoples B. & L. AssoNewark-Admiral Sampson B. & L. Association, $50,000; Allied B. & Association, $50,000 Economy B & L. Association, $94,457; Great American B. & L. Association, $117.545.39; Mt. Prospect B. & L. Association, $117,355.33; New Order Equity B. & L. Association, $204,651.78: Outlook B. & L. Association, $180,000; Revenue B. & L. Association, $100,000; Thomas Jefferson B. & L. Association. $92,229.85; True Friends B. & L. Association, $111.964,13; Compact B. & L. Association, $97,977.64; Eleventh Ward B. & L. Association, $1,360,000; Eleventh Ward B. & L. Association, $900,000; Hamilton B. & L. Association. $196,836.33; Investment B. & L. Association, $199,763.26; New Home B. & L. New Brunswick-Welfare B. & L Association, $111,000. North Bergen-North Bergen B. & L. Association. $86,231.7 Passaic-The Union Loan and Building Association. $596,220
Paterson-Garret Rock B. & L. Association, $50,000; Textile Home B. & L. Association, $98,8. Perth Amboy-Citizens B. & L Association, $300,000; E Jersey B. & L. Association, $85,022.31; Peoples B. & L Association, $70,000. Red Bank-Red Bank B. & L. Association, $159,975. Ridgewood-Ridgewood B. & L. Roselle Park-Roselle Park B. & L. Association, $99,768.70. South River-South Flver B. & L. Association, $149,965 Union City-Dispateh B. & L. Association, $96,216.48.
Insurance Company Loans New Jersey insurance companies received actual loans from the R. F C. during the first five months of that body's existence as follows: Hackensack-North Jersey Title Insurance Company, $65,000. Newark-Eagle Fire Insurance Company, $300,000; Fidelity and Plate Glass Insurance Company $75,000; Public Indemnity Company, $146,500. Passaic-Security Mortgage and Title Insurance Company, $292,000.
Mortgage Companies Were: Elizabeth-Jersey Mortgage and Title Guaranty Company, $540,000. Newark-Clinton Title and Mortgage Guaranty Company, $50,000; U. S. Mortgage, Title and Guaranty Company, $773,442.21. Paterson Investors Title and Mortgage Guaranty Company, $100,000 Toms River-Bond and Mortgage Guaranty Company, $10,000. Trenton-Trenton Mortgage, Title and Guaranty Company, $32,000. Westfield Bankers Title and Mortgage Guaranty Company, $150,000.
December Loans Eighteen banks and twenty building and loan associations were also reported by the Reconstruction Finance Corporation today as having received loans during December. Banks received $1,038,500 and building and loan associations $1 759,635. The largest bank loan, $527,000. went to the Chelsea-Second National Bank and Trust Co., of Atlantic City. The Atlantic City National Bank was loaned.$350,000. Loans authorized during December:
New Jersey Atlantic City, Atlantic City National Bank, $350,000 Atlantic City, Chelsea-Second National Bank and Trust Company, Atlantic City, Equitable Trust Company, $249,000 Atlantic City, Guarantee Trust Elizabeth. Mutual Savings Fund Harmonia, $300,000. Englishtown. the First National Bank of Englishtown, $21,000.
Maple Shade, Maple Shade National Bank, $15,500. Margate City, Margate Trust Company, $30,000. Millville, Mechanics' National Bank and Trust Company, $22,000. New Brunswick, the Citizens National Bank, $15,000 New Brunswick, the Middlesex Title Guarantee and Trust Company, $95,000. New Brunswick-New Brunswick Trust Company, $75,000. Ocean City-The Ocean City National Bank, $54,000. Orange City-Orange Valley Bank, $90,000. Paterson-The Franklin Trust Company, $70,000. Perth Amboy-Perth Amboy Trust Company, $150,000. Scotch Plains-First State Bank of Scotch Plains, $45,000. Westmont Westmont National Bank (receiver), $25,000.
Building and Loan Associations Absecon-The Heights Building and Loan Association, $19,000. Atlantic City-The Atlantic Coast Building and Loan Association, $120,000; The Mutual Building and Loan Association, $190,000; Seaboard Building and Loan Association, $90,000; Trident Building and Loan Association, $43,000. Beach Haven Beach Building and Loan Association, $26,000. Camden-Resolute Building and Loan Association, $20,000. Egg Harbor City Collective Building and Loan Association, $20,000. Glen Ridge-Glen Ridge Building and Loan Association, $125,000. Hawthorne-Hawthorne Building and Loan Association, $200,000. Hoboken-Guardian Building and Loan Association, Jersey City-The Woodlawn Building and Loan Association, $150,000. Linden-Fidelity Building and Loan Association, $100,000. Newark-Founders' Building and Loan Association, $20,000; Intercity Building and Loan Association, $35,000; The Star Building and Loan Association, $95,000; Steadfast Building and Loan Association, $100,000. Ocean City-The Home Building and Loan Association, $38,000. Pensauken Wellwood Building and Loan Association, of Pensauken $34,000. Newark-Lion Building and Loan Association, $63,000.
Tentative questions of doubt and assurances that everything was as it should be came from members of Congress today as they considered looking further into the 11,000 loans h Reconstruction Corporation made in the first five months it was at work. Until the voluminous report could be studied thoroughly, nothing was likely to happen so far as an inves- tigation was concerned. But there was, meanwhile, both criticism and defense of the facts surrounding the 1,155,000,000 the Corporation told the House it authorized from Feb. through July 20 last year. For instance, Representative Howard (D., Neb.), author of the resolution that brought the report on loans prior to the time they were made public in monthly statements, looked askance at the $64,498,000 that went to the San Francisco Bank of America. Said he to newspapermen:
Hits Foreign Syndicate Loan "It seems strange that the Corporation should make a $64,000,000 loan to syndicate of foreigners and want to keep it secret while farmer who borrows $200 for crop production is blacklisted and his loan posted throughout his country. still see no reason to make fish of the farmer and beautifully feathered fowls of the big foreign borrowers He said he had been "abused" because he insisted that the loans approved in the five months should be made public instead of being given only to members of Congress. Jesse H. Jones, a Corporation director, yesterday asked Howard to publicize the report on the ground that it would damage the borrowing institutions. But Howard and Speaker Garner -the latter largely responsible for the fact that loans made after July 21 already have been published-refused to yield. They denied that any harm would result.
Loans According To Law In the Senate, Couzens (R. Mich.), told newspapermen he had not had time to study the report thoroughly but knew of no reason why he should change his previous opinion that the loans were made in accordance with law. Couzens was Chairman of a Special Senate Committee that investigated these same loans. It reported that while it could not see the collateral since that was on deposit at Federal Reserve Banks throughout the country, it found nothing to indicate deviations from the law. The Corporation's report showed that of the $1,195,000,000 pledged, $722,456,000 had gone to financial institutions and $224,000,000 to raila d Financial institutions throughout the country up to Jan. 6, 1933, had paid back $228,162,000 and railroads $11,722,000. Total repayments were $267,532,000. Among the larger loans were $90,000,000 to the Dawes Chicago Central Republic Bank and Trust Co.: $30,000,000 to the Bank of Italy Mortgaging Company of San Francisco; $20,000,000 to the Prudence Company of New York; $27,500,000 to the Pennsylvania Railroad; $25,500,000 to the Baltimore and Ohio, and $17,100,000 to the MissouriPacific.
