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FEDERAL HOUSING ADMINISTRATION WASHINGTON »fEWART MCDONALD ADMINISTRATOR January 15, 1937 Honorable Marriner S. Eccles, Chairman Federal Reserve System Washington, D. C. Dear Marriner: This shows the comparison of business done by all of the Federal Savings and Loan Associations put together, as compared to the Federal Housing Administration. I thought it might be interesting to you in view of the recent discussions. Sincerely yours, Stewa: Administrator FEDERAL HOUSING ADMINISTRATION HOME MORTGAGES ACCEPTED FOR INSURANCE . ' AND FEDERAL SAVINGS a LOAN ASSOCIATION MORTGAGE LOANS MILLIONS OF DOLLARS NEW CONSTRUCTION FEDERAL HOUSING ADMINISTRATION V//////A FEDERAL SAVINGS & LOAN ASSNS. N N D REFINANCING DOLLARS 40 DigitizedSR-798 for FRASER D M J J 1935 M J J 1936 0