Evening star., 1939-03-11

vice president y . ::$
and manager OF ~
tr a importation;
w. B. Bennett, D1lk A~4esa>>%
secretary and Edward n Merrill
assistant to the
president; H D. Champion, treas
urer: William L. Clarke. assistant
secretary and assistant treasurer;
John Fleming. assistant secretary,
and G. B. Koontz, assistant treasurer.
The stockholders made no changes
in the directorate, re-electing Fred
erick H. Doolittle, G. Thomas Dun
lop, Robert V. Fleming, Edwin G.
Graham, William F. Ham, George E.
Hamilton, John H. Hanna, William
Mcclellan, Edward D. Merrill, Len
nard H. Mitchell, George L. Nlcol-
son, John M Perry, S. Perry Thomp-
son, Merle Thorpe and Allen Van
Wyck
The companys annual report, sub
mitted recently to the Public Utili-
ties Commission. showed gross in
come in 1888 of S978,SO0, against
S826,695 in 1887, and net income
of $257,307, compared with $l36, ,442
in 1887, gain of Sl20,865 or bet
ter than ST share on the stock.
Lively Spring Building Seen.
Applications to the Federal Hous-
ing Administration for small home
mortgage insurance amounted to
$86213,375 in February as compared
with 77,594,030 in January and S42,-
612,638 in February of last year.
Mortgages accepted for insurance
in February totaled Sal l223,70O as
against S42217800 in January and
s18,865,7 700 in February of last year
Premium paying mortgages insured
in February amounted to S44, 1888 400
as against S55 1882 500 in January and
$21, ,373,550 in February, 1888.
The F. H. A. declared that the in
creased applications for mortgage
insurance indicate a most active
spring building season. with small
home construction possibly attaining
the largest volume in a decade"
Bank Makes Similar Report.
Residential construction in the
United States has begun 1899 with
an exceptionally heavy increase over
the early weeks of 1888, statisticians
of the Federal Home Loan Bank
Board said today.
Their figures showed that the
building index of $50 for January
was 1873 per cent above the 24.4 index
OF January year ago. January was
also BIT per cent better than De-
cember, 1888, when the index was
43.2.
The boards statistical advisers
SAID that building material prices
remained almost stationary be-
tween December and January and
showed a 2.5 per cent decline be-
tween January this year and Janu-
ary, 1888.
More one-family dwellings were
built in January than December
and far larger number than Janu-
ary, 1888.
Loan Firms Vote Dividends.
Dividend payments were voted
by two affiliates of Southeastern
Industrial Bankers, Inc, at meet
tngs this week.
A 7 per cent quarterly dividend
on preferred stock was voted by
directors of the Frederick Indus
trial Loan Co. Checks will be
mailed March II.
A dividend of per cent on pre-
ferred stock was the quarterly re-
turn voted by directors of the
washington Industrial Loan Co. A
1O-cent per share common stock
quarterly dividend was also voted.
Selden M. Ely was reelected chair
man OF the board. Others re-elect-
ed included Harry j. Donoghue,
president; Lewis Eisele, vice presi-
dent; M. w. Bohrer, vice president;
G. M. Eisele, secretary treasurer,
and Alfred L. Bennett, general
counsel. The incumbent board of
directors was renamed.
M. w. Bohrer was reelected
chairman of the board of the South
eastern Discount Corp. and Lewis
Eisele was again chosen president.
Fleming Back From Florida.
Robert V. Fleming, president of
the Riggs National Bank, has re-
turned from a brief vacation in
Florida. He left three other Wash
tngton bank presidents at Florida
resorts, Floyd E. Davis, president
of the Lincoln National; Clarence
F.. Burton of the City Bank and
Edwin G. Graham of the Hamilton
National.
c. H. Pope, president of the Mum
sey Trust Co., has returned from
short business trip to New York
David Bornet, vice president of
the National Savings & Trust Co.,
Is back in the Capital from the re-
gional banking conference held in
New York.
Francis G. Addison, jr, president
OF the Security Savings G. CONNER
cial Bank. and John A. Reilly. presl-
dent of the Second National were
among local flnanciers attending
the Chartered Life Underwriters
dinner Thursday night.
Robert Griswold, Baltimore bank
er, gave most interesting talk be-
fore the joint meeting of the fidu-
ciaries' and auditors sections of the
District Bankers Association at the
Lee House Thursday. 1t was one
Of the best meetings of the year.
Today's Trading on Exchange.
Mergenthaler Linotype figured in
the trading on the Washington
Stock Exchange today, the first time
IN many sessions. Ten shares sold
at 81. The market closed with 2012
bid and % asked.
The only other sale today was a
small lot Of Potomac Electric Power
per cent preferred which moved
at 115Az.