Evening star., 1939-06-14

W. L. sanderson. VIM. H. Lausblin.
nected with the Bank of America
and halls from San Francisco. His
selections caused much satisfaction
among the members of Washington
Chapter. in which organization both
appointees have been active for sew
eral years, both being former presi-
dents.
Mr.. Sanderson was chapter presi-
dent in 1934-5 and Mr.. Laughlin in
1867. Both attended the Grand
Rapids convention last week. WASH
ington Chapter almost got national
fame in the annual publicity con-
test, but the Richmond Chapter
carried off these honors.
At the convention J. Leroy Dart
OF Jacksonville. Fla, was elected vice
president of the national organi-
cation -Four new members of the
executive council were elected:
Garnett Carter, Atlanta; j. H.
Gormley, Seattle: Edward F. Mat
thews, Philadelphia. and Elmer W..
Pollock of Tulsa, after very lively
contest.
Union Trust Votes Dividend.
Directors of the Union Trust Co.,
meeting yesterday afternoon, de-
clared dividend of per cent on
the outstanding stock, it was an
nounced at the bank today.
The dividend will be paid on July
IS to stockholders of record June
30, the announcement stated. 1t
will be recalled that after quite a
long interval dividends were re-
sumed on Union Trust Co. stock
last January, per cent also being
the amount paid at that time
The present action by the di-
rectors places the stock on per
cent basis, which will be highly
gratifying to the holders. Union
Trust stock is now being quoted at
81 bid and 80 asked The stock is
quoted among large number of
other Washington issues which are
sold over the counter.
Bauman Heads Loan Group.
Chaplin B. Bauman was reelected
president of the Oriental Building
Association at the recent annual
meeting of the stockholders. Ralph
A. Xander was retained in Office as
secretary and John G. Kolb was
again made treasurer.
Nine directors nominated in MAY
were formally elected, consisting of
Charles Schafer, Carl c. Haneke, G..
H. Schulze, John j. Kolb, Thomas B.
Young, Louis c. Dismer, c. Albert
Parker, DR.. Frederick H. Morhart
and Fred w. Schneider.
The report of Secretary Xander
disclosed that total resources are in
excess Of s6,3OO,o0o one of the high
est figures ever recorded in the long
history of the association.
Two Real Estate Markets.
There are two real estate markets,
one social and one practical, ac-
cording to Rufus S. Lusk. vino made
an address before Washington bank
ers the other day. The social mar
ket is what housing and social
workers believe community should
have in the way of houses and apart
ment units, while the practical
market is what businessmen who
are in close touch with real estate
conditions feel are needed. There is
a great difference in their views.
The population figures tell exactly
how many housing units are needed
and can be sold. he says. Any time
the number of unsold houses in any
community begins to rise the situa-
tlon needs watching, Mr.. Lusk as
serted, this line on the chart Show
ing when any city or town is be-
coming overbuilt.
Sales Highest in 10 Years.
Daily average sales of general
merchandise in small towns and
rural areas in May were 16 per cent
over such sales in May last year,
and were the highest for the month
in the last 10 years. the Commerce
Department reported today. Sales
for the first five months of this year
were l2.5 per cent above the same
period in 1888, the report stated.
The promotion of Charles R. Ogs-
bury to the position of vice presi-
dent of International Business Ma
chimes Corp. was announced today
by Thomas j. Watson, president
Mr. Ogsbury has been connected with
the organization for % years, hav-
ing joined predecessor company
of the present corportion in 1910 in
Washington.
Heard in Financial District.
Washington bank presidents who
have returned from Hot Springs,
Va, to resume their daily routine
responsibilities include Francis G..
Addison, jr. Security Savings &
Commercial Bank; Clarence F. Bur-
ton, City Bank; Robert v. Fleming,
Riggs National c. H. Pope, Munsey
Trust Co.; Ord Preston, Union Trust
Co.: John A. Reilly. Second Ma
tional. and j. Frank White, National
Bank Of Washington
Perhaps following the example of
the New York Stock Exchange trad
ing on the Washington, exchange
was very light today. The days
business consisted of the sale of %
shares of Lanston Monotype stock at
447s, up Is from yesterdays closing
sale of so shares. Final quotations
today on Capital Transit were 145s
bid and 1917 asked.
American Telephone, Carpet Corp,
Peoples Drug common and preferred
and Real Estate Mortgage e. Guar
anty preferred are now being quoted
eX dividend payments being die IN