Show HOME BANK MAKES NO LOANS IN MONTH WASHINGTON Nov 15 P The P The federal home loan bank system which opened he doors of its 12 regional institutions a month ago today has yet to make its first loan Officials of the directing board explained explained explained ex ex- ex- ex today the banks nevertheless are functioning in taking care of applications applications ap- ap for loans by sending them themo to o lending institutions in the proper districts The rules of the system provide that home lome owners cannot get direct loans until they have failed ailed to get the loans from proper institutions in Consequently Consequently Consequently Conse Conse- applications first must be referred referred referred re re- re- re to private loan houses which are encouraged to lend to the applicant can cant t. t The board set the minimum capital capi capi- tal in stock of the banks at of which the treasury Is authorized to subscribe The amount of subscriptions received has never been announced but the stock books still arc are open to eligible subscribers These include building and loan associations associations asso asso- savings banks trust companies companies com corn and insurance companies |