Evening star., 1939-10-25

neCueQ 1Or several years. lie mas
been associated with the Eastern
Building Association for 26 years in
all A leader in the District League.
Mr.. Payne held the office of vice
president prior to his advancement.
Mr.. Payne was born in Washing
ton and educated in the public
schools here. He has devoted the
greater part of his business career
to building and loan work. His new
position is certain to bring him into
the limelight in the councils of the
United States Building and Loan
League. of which the District organi-
cation is a unit
Blanz Named Vice President.
Wilfred H. Blanz, secretary of the
American Building Association. was
elected vice president, and Millard
T. Dixon and F. Wilson Camp were
again named treasurer and secre-
tary. respectively. C. Clinton James
continues as the leagues attorney.
Six directors were elected, two of
whom. C. E. Kefauver and r. w.
Santelmann, were members of the
retiring board The new members
were George M. Emmerich. Martin
A. Cook, Edward K. Jones and E. L.
McAleer.
Much appreciation was expressed
over the work done by Mr. Bishop,
retiring president, during the past
two years. He and all other past
presidents are now to be members
of the executive council.
The sessions were marked by
tributes to association members who
had passed on during the year, in
Guiding Raymond Espey, H. A.
Blundon. H. E. Deckman, c. E.
Donohoe, J. Massie and E. A. Trip.
Washington Collections Lag.
Collections in Washington depart
ment stores in September Jagged
bit behind the rest of the fifth dis
trict, the Richmond Reserve Bank
reported this noon. Of bills due
26.6 per cent were collected in the
Capital during the month, 80 per
sent in Richmond. 81 per cent in
Baltimore and % per cent in the
whole district.
Stocks of goods in Washington
stores at the end of September were
II per cent higher than at the end
of August and 80 per cent higher
than on September 80, 1888.
AS already noted. retail trade in
the Capital in September was 7.6
per cent ahead of September year
first nine months of 1889, then
in the like 1888 period.
Insurance High Lights Cited.
Speaking over the radio in the
present weeks life insurance cam
paign. Harold D. Kraft, member of
the District Life Underwriters Asso-
citation, said that 8 out of every 10
estates left by men today are made
up exclusively of life insurance pro-
ceeds, that 64,OO0,O0O of us own
125,oOO,Ooo policies worth sl1o,oOo,-
100000
In 1888 living policyholders and
benehciaries received from life in
surance So 100000. In the period
1888 through 1888 life insurance has
paid out nearly $4,000 100000 more
than was necessary for Federal re-
lief in the same period.
Nearly a billion dollars was paid
in 1888 to the beneficiaries of slightly
more than million policies. provid-
ing the money for food. clothing and
shelter to families that had lost their
breadWlnner. More than go per cent
went to living policyholders.
Boushall Housing Chairman.
Thomas C. Boushall. president of
the Morris Plan Bank of Virginia,
has been appointed chairman of the
Public Housing Committee of the
Chamber of Commerce of the United
States. Mr. Boushall was elected a
member of the board of directors of
the national chamber in 1888 to rep
resent 126 organization memberships
in the third district, which en-
braces Virginia, West Virginia, North
Carolina. South Carolina, Maryland
and the District of Columbia.
All Washington banks are arrang-
Ing their schedules to conform with
the new 42-hour week under the
wage and hour law and also plan
ming ahead to cover the provisions
of the 40-hour week Officials pre-
fer to make the final readjustments
at one time. they say.
The North American Company's
consolidated revenues for the last
II months were $121, ,76O,056, an in
crease of 40 per cent compared with
the same period year ago, and in
cluded electric revenues Of S98,81l.-
019, an increase of $40 per cent.
Expenses went up 1926 per cent.
Anacostia e. Potomac guaranteed
Is again sold at 1l21a on the WASH
ington Stock Exchange today.
Potomac Electric Power 5la per cent
preferred appeared on the board at
1922, and so shares of Capital
Transit stock registered 1885.
The Norfolk & Western Railway
Co. has declared the regular quar-
terly dividend of $3.50 share on
the common stock, payable Decem-
Der % to stock of record December a.
Many predictions are heard in
brokerage houses that there will be
a flood of regular. increased and
extra dividends during the rest of
the year.
Credit Man Urges Tax Cuts.
Greater recognition of the princi-
pie of ability to pay taxes and early
revision of our tax system to elimi-
nate obvious flaws are indicated as
immediate needs, Charles F. Bald
win, Washington representative of
the National Association of Credit
Men. declared in an address on
Taxes and Credit" before the
New England Credit Conference at
Worcester, Mass, today.
Several firms actually paid out in
1888 in taxes of all kinds consider
ably more than their profits for that
year.