Evening star., 1937-08-24

l n m j. Il 5& $#$#
Groom, president
Of the District of 'n "''A'
Columbia Bankers Association; H. H.
Mckee, president of National Capital
Bank, who is chairman of the WASH
ington Clearing House Association,
and Raymond B. Dickey, dean of the
Washington Chapter, A. I. B., faculty
will be the local speakers.
The radio address to which the
audience at the Willard Hotel will
listen. joining with 220 other chap
ters throughout the country, will be
delivered by Branch Hickey, vice pres
ident and general manager of the
st. Louis Cardinals base ball team. |
He will speak on The Score Board"
The national program will be broad
cast from $50 to 9 pm. through the
National Broadcasting System, from
its st. Louis, Mo, station over the |
blue network, with Station WMAL
the outlet here. Special arrange
ment have been made for piping"
the national radio program to the
Willard Hotel, where it will be
amplified to clarity and loud
ness sufficient for large audience.
Radio plans here have been COM
pleted by officials of the National
Broadcasting System, and Miss Cath
crime Krieg of Riggs National Bank,
who is member of the National Radio
Committee of the A. l. b. headed by
Robert J. Farr of Philadelphia,
Headed by Laughlin.
Arrangements for the Fall open
meeting here were made by the chap
ter officials headed by President
Laughlin. At the Willard Hotel meet
ing certificates and prizes will be
awarded to pre-standard and stand
ard graduates. The w. w. Spaid
Golf Trophy will be presented to the
winner of the recent tournament.
DR.. Harold Stonier, educational di-
rector OF the institute, reports that
approximately $500 members will re-
ceive their certificates that evening
throughout the country and that dur
ing the past year more than 35 900
students were enrolled in the various
more than $4,000 bank men and wom-
en-, many of them now officials of their
respective institutions, have been
graduated by the institute.
The Federal Home Loan Bank of
Winston-Salem made advances totaling
N,llO.835.48 to member thrift and
home financing institutions in Mary
And during July, according to reports
received by the Federal Home Loan
Bank Board today from o. K. La
Rogue, president of the bank.
Such an extensive total of advances
for one month in Maryland emphasizes
the upward trend in home building in
that State, the board said.
National Dairy Reports.
National Dairy Products Corp. and
subsidiaries, which include Chestnut
Farms-Chevy Chase Dairy and South
rn Diaries, the ice cream company,
here, earned $l.87 share on 6,263 $50
shares OF common stock for the -
months ended June 80, 1887. This
was after dividend requirements on
per cent preferred stocks.
Previous reports of the corporation.
on calendar year basis, showed that
common stock earned S20l in 1886
and $l.38 in 1885
The corporation and its subsidiaries
report, for the IL months ending June
80, 1887, subject to audit and adjust
ment, shows net profit of sl2,433,473, |
after depreciation, interest, subsidiary
preferred dividends, Federal income |
taxes, etc, but before surtax on un-
distributed profits, with respect to that |
portion of earnings accruing in the
stx-month period ended June 80.
Net income of National Dairy Prod |
ucts Corp. (parent company only for
IL months ended June 80 last, was
$l5,526,670 after charges and Federal |
income taxes, but without provision |
for surtax on undistributed profits ap-
plicable to 1887 earnings, equal after
7per cent preferred dividends, to $2.37 |
. share on common stock.
Consolidated income account of Ma
tional Dairy Products Corp. and sub
sidiaries for IL months ended June
80, 1887, follows: Net sales, $342,303,-
$40; cost OF sales and expenses (in-
cluding maintenance, depreciation and
ordinary taxes, 1925 1893: profit.
$l6,712,622; other income, $1,l2O,569;
total income, SIT, 1928, ,l91; interest, 81
603,378; subsidiary preferred divi-
dends, $120,750; loss on disposition of
capital assets, $253,682; miscellaneous
deductions, :$372,l28; minority inter-
ests, $4,000; Federal income taxes,
e2,1oe,7oo; net profit, s12,433,473.
Vacation Notes.
E. Percival Wilson, secretary Of the
National Savings & Trust Co. is va
cationing at Rehoboth Beach.
Paul j. Seltzer, past president of
the Washington Chapter, A. I. B. Is
back at his desk at the American
Security & Trust Co.. after two
weeks vacation spent in Atlantic City,
Philadelphia and New York. While
away, he visited and was entertained
by chapter officers in other cities.
Raymond L. Jones of the National
Metropolitan Bank, and Mrs Con-
stance D. Jones Of the Riggs National
Bank, have returned from their an
nual vacation spent on the Severn
in Maryland. Both Mr.. and Mrs.
Jones are active in the work of the
local chapter A. I. B. He is chairman
Of the Athletic Committee this year
Edwin H. o. Stokes, assistant cash.
Ter of Morris Plan Bank has returned
from vacation at Atlantic City,
q. Crawford Turnbull, chairman of
the Publicity Committee OF Washing
ton Chapter A. I. B. leaves Saturday
for two weeks vacation ut Virginia
Beach. He Is assistant cashier Of
Morris Plan Bank.