Evening star., 1934-11-20

James Berry,
william G: Edward c. Balt..
Schafhirt and
RAYMOND K. Espey. The Executive
Committee consists of Mr.. Berry, Mr.
Bishop and Mr.. Baltz. Committee on
Status of Loans, John c. Scofield and
DR.. Schafhirt; Appraisal Committee,
Vernon G. Owen and Franklin W..
Harper; attorney, Arthur G. Bishop.
In his annual report, Vice President
Bishop said that assets had increased
approximately S4,000,000 during the
year, adding that more than S7,0OO,OOO
in real estate loans had been made.
Collections on outstanding loans were
much better than in the preceding
year, he said.
The Perpetual is cooperating with
the Government housing plans to the
fullest possible extent and has ample
cash on hand to make further loans
for this purpose, officials said.
Business Up 1O2 Per Cent.
An increase of 102 per cent in new
paid business over the first 10 months
of 1888 is reported by John F. Gre
men, general agent of the MaSSachu-
setts Mutual Life Insurance Co. in
Washington. This is the largest per-
centage increase made by any agency
of the company.
With a paid business in excess OF
s3,250,Oo0, Mr.. Cremen stated that
the largest paid volume in the his
tory of the agency is expected in
1884.
The gain over last year is the re-
suit of a marked increase in produc-
ton on the part of the older repre-
sentatives, plus S1,000,000 of new
business from agents appointed in
1884.
Outstanding producers in the group
of older agents are: Leopold V. Freud
berg. Dan j. Harrison, Graham E.
Wilson, Lucetta w. Stockbridge, May
belle Raymond, and the major portion
of the new organization production
has come from George H. Llewellyn,
Robert w. Castle, Raymond A. Du
Four, Harvey F. Ernest and Alexander
Wolf, jr.
B. e. o. Directors Reelected.
The board of directors of the Balti-
more & Ohio Railroad was reelected
as follows at yesterdays annual
meeting: Newton D. Baker, Howard
Bruce, John j. Cornwell, Carl A. de
Gersdorff, Robert Garrett, John D.
Hertz, John R. Moron, Frederick II.
Rawson, Henry Ruhlender, George
M. Shriver, John F. Stevens and Jo-
seph E. Widener.
President Willard expressed enthu-
siasm over the future of the B. & o.
and other railroads. He sees the best
and cheapest transportation ahead.
He praised the newly formed Associa-
ton of American Railroads as re-
markable step in advance to deal
with common problems.
Mr.. Willard announced that the
two scar streamlined, conditioned
trains which the Baltimore g. Ohio is
having built, one of duralumin and
the other of cor-ten steel, would be
ready early next year, simultaneously
with the receipt of Diesel locomotive
of 1900 horsepower to furnish power
for one of them. Two steam locomo-
tives also are being built for the
streamlined trains.
Dwelling on the progress made in
conditioning. passenger coaches
Mr.. Willard stated that the railroad
now has 283 passenger cars so
equipped, and expressed the opinion
that conditioning has done as
much as any one thing to promote
the comfort of those who travel by
rail.
Retail Trade Holding Gains.
Latest reports from the Federal Re-
serve Bank of Richmond state that
retail trade in this district so far in
November Is so good that the wide
margin over November, 1888, will be
reported at the end of the month.
The weather has been particularly
favorable to the sale of Fall goods
and holiday business is already getting
started. Agricultural incomes are
maintaining strength.
Officials predict that the building
improvement will be felt in December
to greater degree than at present.
Probe of Bank Directors.
A more intensive check on bank
directors, to determine their financial
responsibility, is evidenced by the
latest instructions sent by the con-
troller of the currency to all bank
examiners, ordering them to ascertain
the net worth of directors While this
information has been sought in the
last few days in the case Of national
banks, the order applies also to exam
liners for the Federal Reserve system,
and will require the net worth of di-
rectors of State banks which are
members of the system
Careful navigation" is necessary
for the Nations recovery, in the
opinion of r. S. Hecht, president OF
the American Bankers Association,
who adds that he believes the worst
of the depression has been passed.
Lively Trading on Exchange.
Trading on the Washington Stock
Exchange today was very much more
lively than any day last week. Capital
Transit stock opened the session with
four 10-share sales, all 26A, frac-
tional gain over last weeks close.
Norfolk & Washington Steamboat
Co. stock came out at II. Potomac
Electric Power 6 per cent preferred
moved at 100 and the 51a per cent
preferred SOlo at liz, pOIu eA-olW-
dend. Washington Gas also figured
in the days sales, 10 shares selling
at go.
National Savings & Trust Co. stock
recorded four 10-share sales at 100,
while the final stock transactions were
IN Mergenthaler Linotype. This issue
opened 1854 against the last pre-
vious sale at %. Later two 10-share
lots moved at 261a, the stock closing
2614 bid and % asked Today's sales
were the first actual sales since the
annual report showed turnabout of
more than 81 ,0OO, 900 in net earnings
The only bond sales were in Wash
ington Railway & Electric As at 991a
Lerner Stores Corp.-Declared a