Evening star., 1938-03-18

dendS until well toward the end of the
fiscal year. the head of the company
states that adequate cash reserves are
needed for general operating expense.
which includes pay rolls, materials,
heat, light, power. ETC.; for a host of
taxes and for essential capital eX-
penditure. involving the purchase,
replacement or repair of buildings. as
we'll as for plant machinery and tools.
Factory wages and social security
taxes have increased, but in spite of
the higher operating costs. officials
are optimistic and look for a salts
factory volume of business during the
remainder of the fiscal year. The
financial condition of the company
continues strong, without indebted
ness except for normal current items,
President Mackey concludes.
Huebner Guest of Honor.
S. S. Huebner. who has just COM
pleted 25 years AS chairman of the
department Of insurance, Wharton
School of Finance. Philadelphia. will
be the guest of honor at the annual
banquet of the District of Columbia
Chapter, Chartered Life Underwriters,
at the Carlton Hotel this evening. He
will also be the principal speaker.
DR.. Huebner has been teaching in
surance at the University of Pennsyl-
vania for "a years. When he started
he was the only member of the de-
partments faculty. which now num-
oers a. As teacher he has had
tremendous influence on those with
whom he comes in contact
DR.. Huebner has also served as
special lecturer in New York Unlver-
slty, Columbia University and Phila-
delphia Chapter. American Institute
OF Banking.
Elliott Urged as Controller.
William S. Elliott, known to many
Washington bankers as former chief
of the securities division. United
State Treasury, and now president of
the Bank of Canton. Ga. is being
urged for the position as controller of
the currency. when J. F. T. O'Con-
nor returns to California. He is SO
we'll known personally in the Capital
that his candidacy has aroused much
interest
The Georgia delegation in Congress
has already asked President Roosevelt
to consider him for the appointment.
Born in Newton County. Ga. on De-
cember l9, 1877. he began his career
As a bookkeeper in the Treasury in
1899. He advanced rapidly until he
was put in charge of securities and
later was made registrar of the Treas
ury. In 1922 he went to the bond de-
partment OF the Bankers Trust Co.,
going from New York back to Georgia
q year later.
He is member of the Executive
Council. American Bankers Asso-
clatlon: member Administrative Com
mlttee. member Committee on Federal
Legislation, chairman Executive State
Bank Division. and a leader in the
Georgia Bankers Association. He is
vigorous advocate of the dual bank
ing system and has done great deal
of public speaking.
Agency Wins Special Honors.
Paul D. Sleeper. general agent of the
Aetna Life Insurance Co. in this city.
has Just returned from the general
agents conference at Miami and an
nounces that his agency has been
awarded the companys Presidents
Trophy for outstanding achievement
in the Southern division for the year
1887.
Mr.. Sleeper who is president of Dis
trict Of Columbia Chapter. Chartered
Life Underwriters. also recalled that
l3 OF his associates completed rigid
requirements for attendance at his
company's conference at Virginia
Beach last year. Five of these men
Freeman N. Stricklin, H. Cochran
Fisher. James L. Richards. L. E. Harris
and H. B. McGuire-have already met
requirements for attendance at the
next conference. to be held at Quebec
In September, 1899.
For the year 1926 the agency here
stood number 48 in rank in amount of
new business produced, while for 1887
the agency stood number 8 among IS
general agencies in United States and
Canada
Housing Campaign Boosted.
The Junior Chamber of Commerce
notified the District Bankers Associa.
tion today that the organization is TAX
ing special action in support of the
housing modernization campaign now
being carried on in Washington. The
chamber plans to secure some house
which is In very poor condition reno
wise 1t completely and make an exhibit
house of it. at the same time pointing
out the changes made and the cost of
the work
Directors of the American Security
L. Trust Co. at their regular March
meeting declared quarterly dividend
OF 2 per cent on the capital stock. pay
able April II to stockholders of rec
ord March 81.
Directors of the Carpet Corp. have
voted dividend of so cents per share
on the outstanding stock. payable
March 81 to shareholders of record
March "a. it was reported to the
washington Stock Exchange today.
The Riggs National Bank has retired
1000 shares of preferred stock. par
value. 100000. 1t now has $4,000, 900
common stock and $l.2l7,500 pre-
ferred.
Today's Trading on Exchange.
twenty-five shares of Capital Tran
sit stock sold at rs on the Washing
ton Stock Exchange today. Mergen-
thaler Linotype figured in 30-share
turnover at 1917. the lowest price
reached this year.
American Security & Trust Co. stock
appeared on the board at 245. while a
small transfer in Woodward & Lothrop
common was recorded at So. off point
from the last previous sale.
In the bond division two $1,000
transfers in Washington Gas SIS. 1888.
took place at 1854 y half a point