Evening star., 1936-09-04

in San Francisco during the week OF
September 81. The other members of
the large Capital delegation are eX-
pecting to start around September II.
Mr.. Preston is third vice president of
the District Bankers Association and
Is combining the convention visi. with
his annual vacation.
S. L. Shanks of 4507 Klingle street
will spend the week of September Z at
the Cavalier, Virginia Beach, at a
sales meeting being held by the Mon
roe Calculating Machine Co., Inc, OF
which he is manager in the Washing
ton district. He will be accompanied
by ]. z. Ball, jr.; w. NJ. Miller and
F.. K. Montgomery. sales representa-
tives of the company here.
Lundeen V. Steele of the Washing
don Loan & Trust Co. won the Wash
ington Chapter, American Institute OF
Banking, golf tournament. He Will
receive the w. w. Spaid Trophy at the
Fall open meeting of the Washington
CHAPTER September 9 at the Willard
Hotel. This is the second time he has
won this cup.
Insurance Service Enlarged.
Plake & Marsh, local general agents
of the Northwestern National Life In
surance Co. of Minneapolis, an
nounced today the opening of a bro
kerage service department headed by
Chauncey C. Potter, life insurance eX-
merit from California. The newly
created department, with offices at
1927 I street northwest, will aid IN
surance brokers in the preparation OF
briefs and analyses of their clients
Life insurance and annuity problems.
MIR. Potters specialization in the
field of program preparation dates
back to 1924, when he was identified
with the San Francisco and Oakland
branches of the Travellers Insurance
Co. of Hartford, and more recently
with the Los Angeles branch office OF
the Acacia Mutual Life Insurance Co.
Of Washington.
Construction Boom Forecast.
Government officials are predicting
a construction boom i'll this country
comparable to expansion in the auto
mobile industry back in 1921. The
forecasts are based on reports COM
pleted this week.
Stewart Mcdonald, Federal housing
administrator, said that residential
building construction in July was 700
per cent greater than in July, 1888,
and that more than 100000 residential
dwellings would be completed this
year. compared with $4,000 last year.
During August, he said, the trend was
even more encouraging than in July.
During August, mortgage loans alone
accepted for insurance by F. H. A were
s57,S20,933 From the date it was
created through August 81 of this year,
F.. H. A. has insured $1,058 900, 900 of
all types of loans under provisions of
the three titles of the law, covering
insurance of repair and modernization
2oans, loans for individual dwellings,
and loans for large scale building
projects.
Heard in Financial District.
Filing of the largest issue ever
registered with the Securities Exchange
Commission, by the American Tele-
phone & Telegraph Co., is expected
within the next two weeks. If two
outstanding bond issues are refunded
at the same time, the issue of deben-
lures may reach $3.50, 1000 900, the Wall
Street Journal states. In that case
S130,o00,O00 or 100000 might be
marketed and the rest handled out OF
the company's cash reserves. Specula-
tion places the coupon at or 3A pei
cent.
Seven sales of Mergenthaler Linotype
stock, totaling 63 shares, took place on
the Washington Stock Exchange today
at 46l2. Lanston Monotype moved at
IS and Capital Transit at 13.
City & Suburban IS sold at 861a on
three $1,000 transfers and Capital
Traction IS appeared on the board
at 90lA.