California Center of Greatest Building and Loan Activity

California is the center of the greatest building and loan activity in the nation, establishing a record of development during the past year unsurpassed by any other State. The associations of this State gained $104,756,530, and IL4,425 investors, according to a survey of the California BuildingT. oan League based on the Thirty-sixth Annual Report of the Building and Loan Commissioner just submitled to Gov. C. C. Young.

Number of investors in California building-loan associations now total 437,548, compared with 323,160, a year ago. Total savings of this group amounts to $349,008,i40, orln average investment of $797. Investment certificate and membership share holders in California associations last year received more than $8,00O,000, as interest and dividends.

ing to the League. Loans in force now total $353,298,708, an increase during the year of $86,313,475.

Real estate loans made during the past year by the 233 California building-loan associations aggregated $170,254,- Ol2, an increase during the fiscal year of $44,95I,%9. During the period coveied by the report, repayments on real estate loans, principally through amortizition, totaled $89,678,221. It is-thereiori app"tJnt that more than $80,- 000,000, of the amount loaned on real estate during the past year has been new mone)' made available by the remirkable growth of the building-loan movement.

Loans on real estate represented 88 per cent of the total assets of California associations as of Tune 30th. last. the Leag_ue 'survey shows; bond investmints, 3.5 per cent; certificates of other associations, l.3 percent; cash in ofiice and ban_k, 4.2 per cent;foreclosed real estate loans, 1.2 per cent; office buildings, 1.1 per cent.

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During the past year, 28 nerv associations were licensed ' the Commissioner. brinoinrr the total in fhe State to issioner, bringing the total the State to 233 active associations. Through mergers, 11 associations retired.

At the close of the fiscal year. these institutions had 118,622 loans in force, an inciease of. 26,576 loans in the preceding twelve months period, according to the California Building-Loan League. Loans averaged $2,978, a slight. increase over the $2,900, average a year ago, accord-