Evening star., 1934-11-14

will cause delight
among the hun Georre q. Vas,
dreds OF Mergen-
thaler Linotype stockholders in Wash
ington. When it was limited several
weeks ago that the company would
get well out of red figures this year.
shareholders in the city began to talk
of dividend resumption by January
!, 1885.
Mergenthaler's balance sheet as of
September 80, 1884, certified by indie
pendent auditors, shows a surplus OF
$9,509 752, against $9491 OPT on Sep
tember 80, 1888.
Current assets, including S705,24
in cash. amounted to S14,854,5l9,
egainst S14,306518 on September 80,
1888. Current liabilities were Sl27,-
O34, as compared with $153,096 at
the close of the preceding year Total
assets on September 80 last amounted
to s24,321,617, against $23,493,253.
The splendid financial showing was
attained while the company was
operating under the N. R. A, which
increased operating costs. The COM
pany also restored two 10 per cent
pay cuts to employees. 1t is under
stood that the increase in earnings
came largely through an increased
demand for linotype machines. The
annual meeting comes next Wednes-
day, November 81.
Vass on New Committee.
It was learned in the financial dis
trict this noon that George o. VasS,
vice president and cashier of the
Riggs National Bank, has been ap-
pointed a member of the Special
Committee on Banking Studies of
the American Bankers Association.
which is to be headed by Tom K.
Smith. president of the Boatman's
National Bank of st. Louis. Mr..
Smith was recently elected second
vice president of the American
Bankers Association.
During the past year Mr.. Vass
served as member of the Banking
Code Committee of the American
Bankers Association, where his out
standing work brought him into ma
tional prominence. This is believed
to be responsible for his present as
signment, as the Special Committee
on Banking Studies is one Of the
most important in the association.
It is announced by President r. S.
Hecht that Joshua Evans, jr., vice
president of the Hamilton National
Bank, will succeed Mr.. VaSs as men,
ber of the American Bankers As
sociation's Code Committee Mr.
Evans has been active in the D. C.
Bankers Association for years.
H. H. Mckee, president of the Ma
ronal Capital Bank and general
chairman of the recent A. B. A. con-
vention, was appointed by President
sentative on the Federal Legislative
Council, State Legislative Council and
the associations national Committee
on Taxation. He is an A. B. A.
veteran in service and activity.
Robert V. Fleming, president of the
Riggs National Bank, who is now first
vice president of the A. B. A, has
relinquished his position as chair
man of the Committee on National
Legislation in order to give his full
time to enlarged executive duties.
sharp Gains In construction.
Building permit values in the South
Atlantic States in october totaled
S4,981 ,569 against only S2,531 ,O63 in
the corresponding month last year, a
gain of 96.8 per cent. This sudden
improvement is sure to arouse most
favorable comment in construction
circles in this territory.
Marked expansion in building oper-
ationS throughout the country is re-
vealed in the latest report compiled
by Dun & Bradstreet, Inc AS against
a normal seasonal increase of about
2.5 per cent at the time, the volume
of permits taken out during October
for new buildings, including altera-
tions, additions and repairs showed a
rise of 400 per cent over September
while the gain over October, 1888
was 42.9 per cent. This increased
activity in large part reflected the ma
tional appeal for home repairs ano
Improvements, sponsored by the vari-
Gus governmental agencies.
The aggregate volume of building
permits for the 215 cities reporting tc
Dun g. Bradstreet, Inc, during Octo-
ber amounted to S37,446,293 With
the exception of last May, this was
the heaviest total of permits reported
since April, 1882, and compared with
$26, 1925 for the same cities in Sep
tember and $26,198,342 for October
1888.
Insurance Dividend Boosted.
The Washington Office of the North
western Mutual Life Insurance Co. has
received word from the home Office OF
an increase in dividends to be paid
during 1885
General Agent A. L. Baldwin said
today that the company has appor-
toned $33,50O,O00 for the 1885 divi-
dends to policyholders, an increase OF
"A per cent over the average 1884 div
idend per 81 1000.
New paid business for the first nine
months of this year totaled $174,239,
S3l. This included annuities and rep
resented a net increase of 1913 pei
cent over last year. Without annuities
the gain was 21.9 per cent.
The report also shows that the COM
pany has 986,512 policies in force, an
average of S3,778 per policy.
Today's Trading on Exchange.
Capital Transit stock solo at 26 ir
several sales on the Washington Stock
Exchange today. Potomac Electric
Power per cent preferred was 110H
while the 51a per cent preferred moved
at 113 and 113A. Bond trading wa.
confined to Washington Railway
Electric As, which moved at 99k.
Washington banks will distribute
s4,362,1 ,160 in Christmas Savings Clut
funds to 55,307 members, it was statee
in the financial district today. Tht
checks will be ready during the frs
week in December in order to givt
the members their money while th'
stores are still fully stocked with
Christmas goods. .
Fifty-three direct loans, aggregat
ing S3,6l1, 900, have been made to in
dustries In the district for working
ronita1 the Eichmond Bank an.