Evening star., 1939-01-28

SUI, secretary,
Robert D. Marshall, controller: Nor
ris w. Bennett, treasurer, and Phil
ip R. Vernie, assistant secretary and
assistant treasurer.
The meeting was held at the eX-
ecutive Offices, Fourth and D streets
S.W. Mr.. Hoover, the chairman of
the board, is chairman of the board
of directors of the National Savings
& Trust Co., and was president of
that bank for Is years. He also is
q director in the Norfolk & WASH
ington Steamboat Co., 33d degree
Mason and belongs to several i'm
portant clubs. The other officers
elected also have served the Ter
minal Corp. long and well.
Alfred G.. Neal, vice president and
general manager of the Potomac
Electric Power Co., recently elected
a director, was present at the meet
ing.
Thorn Reports Excellent Year.
Corcoran Thorn, president of the
American Security & Trust Co., in
his annual report showed that 1888
was flrst-class year for the COM
pany. There was a net increase in
undivided profits of $2938 after
payment of an per cent regular
and per cent extra dividend.
Real estate conditions were more
favorable than in the latter part of
1887, the market for hor-les was
satisfactory and there was fairly
good demand for loans. Earnings
~ ~, u,o,o tho
best in the history of the company.
Since December 81, 1888, the year
of the bank holiday. the staff has
been increased from 264 to 352. In
the same period deposits increased
from S33,910 4042l to S54 049 ,459 "a
Mr.. Thorn spoke of the possibility
of congressional action increasing
insurance on bank deposits above
the present $1,000 mark. If this is
done, he said, additional expenses
may have to be met by the banks.
Increased expenses during the year
were met as far as possible by care
full readjustments.
ID. c. Insured Mortgages Soar.
Home mortgages in Washington,
accepted by the Federal Housing
Administration in November, showed
a sharp increase over the previous
year, according to report just made
public. In November, 1887, there
were IL such mortgages accepted
for insurance, amounting to ST. 200,
and in November, 1888, the number
jumped to 46 and the amount to
S245,800
In the first II months of 1888 ac-
eeptances numbered 335 in the Dis
trict of Columbia, and the amount
involved reached 81 ,943,900 The re-
port shows that November accept
ances were almost four times as
numerous as in November of the
previous year, maintaining about the
same ratio that has prevailed since
last June. AS in other recent
months, the report adds, some 70
per cent of the amount of accept
ances represented new homes.
Maryland reported 1873 MORTGAGES
insured in November, 1887, amount
ing to 1922 $50, and in November,
1888, total of 1873, involving S7e3.-
700. Virginia reported Ill a year
ago, amounting to $426,OOO, and in
last November 224 with a total of
$l.O37 ,409. In II months Maryland's
insured mortgages totaled $1,24l.7O
and Vtrginia's slo,eo3, 500, the report
disclosed.
Record Attendance Certain.
Joseph H. Parker, secretary of
washington Association of Credit
Men, Inc, said today that reserva-
TONS already made for the asso-
cations annual banquet and dance
mean record attendance. The
associations one outstanding social
affair OF the year will take place
Tuesday, February 7, at the Ward
man Park Hotel.
General chairman of the Com
i1ittee on Arrangements is George B.
Hoey of Lyon, Conklin Co, Inc;
Program Committee chairman is
Mrs. Ethel j. Hess, E. B. Adams Co.:
master Of ceremonies. John A. Reilly,
formerly secretary-manager of the
ASSOCIATION and now president of the
Second National Bank.
Newly elected officers for 1899
Properties, Inc, president, and vii.
liam r. Little, Evening Star News
paper Co., vice president.
Heard in Financial District.
The Washington office reports that
a quarterly dividend of SO cents a
share has been declared by Com
panla swift International, payable
March l to stock of record February
Is.
Ten shares of National Bank of
washington stock sold on the Wash
1ngton Exchange yesterday at 1913.
the first sale this year and about
two points under last years close.
Sale of nearly 100 shares of Capi-
tai Transit stock earlier in the
week, at 9, were a full point above
other recent transfers.
Arundel Corp. earned $2l0 a share
In 1888, against S168 a share a year
ago. The stock is quite widely held
here.
The Virginian Railway earned
41245 a share on common in 1888,
against $1721 a common share in
1887.
William A. Irwin, assistant educa-
tional director of the American In
stitute of Banking, gave a fine ad-
dress on public relations at the last
meeting of the Riggs National Bank
personnel.
Hilleary G. Hoskinson, president
Of the District Bankers Association
and vice president of the Riggs
National Bank, left Washington last
night for a winter vacation in
Florida.