Evening star., 1937-10-27


Sherman served during the past year
as vice president of the savings divi-
sion. He is a member of the Council
of Administration of the National
Association of Mutual Savings Banks.
NJ Sherman is married and has
two daughters and one son. He is a
Republican.
Baltimore Leads in Gains.
Department store sales in the first
nine months of this year in the fifth
Federal Reserve district reveal Balti-
more reporting the largest gains over
last year, according to an analysis
completed today b. the. Richmond
Reserve Bank. Sales in Baltimore
were up 85 per cent. Washington
sales we're up 1.6 per cent and the
average for the whole district was
So per cent.
In September alone, Baltimore sales
gained 13 per cent over the like month
a year ago, Washington advanced ST
per cent and the whole fifth district
9.4 per cent.
Stocks on hand were ga per cent
higher in the stores in the Capital than
at the end of September, 1886, and
68 per cent higher in the whole
distri It. Stocks were turned 2949
I'll, -, in the stores here in the first
nine months of this year compared
with 1886
Collections in Washington stores
during the month were 236 per cent of
bills due at the beginning of the
month, exactly the same as the
average figure for the whole district,
the Richmond bank said.
Adams Names A. B. A. Leaders.
Orval w. Adams, president of the
American Bankers Association, has
appointed to the Executive Council
for one year the following members:
w. F. Augustine, vice president, Ma
tional Shawmut Bank, Boston; E. G.
Bennett, president, First Security Bank
of Idaho, Boise; F. L. Carson, presi-
dent, First National Bank, Wichita,
Kans.; H. M. Chamberlain, vice pres
ident, Walker Bank & Trust Co., Salt
Lake City; w. S. Elliott, vice presi-
dent, Bank of Canton, Canton, Geor-
gia; Harry j. Haas, vice president,
First National Bank, Philadelphia;
Richard S. Hawes, vice president, First
National Bank, st. Louis; Percy H
Johnston, chairman of board, Chem
ical Bank & Trust Co., New York
City; Robert H Myers, vice president,
Merchants National Bank, Muncie,
Ind; Charles E. Spencer, jr., vice
president, First National Bank, Bos-
ton; Frank Warner, secretary, Iowa
Bankers Association, Des Moines, and
Charles F. Zimmerman, president,
First National Bank, Huntingdon, Pa.
Western Maryland Net Rises.
The Western Maryland Railway re-
ports net earnings for the nine months
ending September 80 equal to SO cents
q share on the common stock. Moth
ing was earned on this class of stock
In the same period year ago.
The Virginian Railway reports net
earnings of s11.63 a share on the
common in the first nine months of
1887, against 1928 in the like period
last year.
Net earnings of the Norfolk & West
ern Railroad in the first nine months
of this year totaled S16.35 on COM
mon, against sl5.42 year ago. Sep
tenlber net, $1.95 VS.. S199.
Gas Application Withdrawn.
The Securities and Exchange Com
mission has consented to the with
drawal by the Washington & Subur-
ban Companies of an application filed
under the Utility Act for approval of
the acquisition by it of securities of
the Washington Gas Light Co., a SUBJ
sidiary.
Washington holders of United States
Steel common stock filled board rooms
today, anxious to see how the stock
would open on the New York Stock
Exchange following declaration of the
81 dividend. 1t opened at So, just
where it closed last night. The
dividend was hailed with enthusiasm n,
although some holders said they had
hoped for So a share after carrying
the stock since 1882 without any re-
turn.
The Fiduciaries Section of the Dis
trict Bankers Association will hold its
first fall meeting tomorrow night at
the Mayflower Hotel. Irving zirpel,
the new chairman, will preside, an
address on taxes being the program
feature.
Today's Trading On Exchange.
Ten shares of Washington Gas Light
preferred stock opened trading on the
Washington Exchange today, selling at
eeA, unchanged. Mergenthaler Limo
type appeared on the board with a
small sale at 281a, off half a point
from yesterday. The market closed