Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-10-09
District Building
And Loan Group
Reflects Officers
Baker Again President
And Comp Secretary;
Resources at Peak
Bv EDWARD c. STONE.

District Building & Loan Association
were reelected by shareholders at
the annual meeting held yesterday.
The report of F. Wilson Camp,
secretary disclosed that resources
of the 29-year- home financing
group are now at the highest point
ever recorded. being in excess of
s2O58O0O.
Besides Mr. Camp, secretary
treasurer, officers include George A.
Baker. president. and Henry Gill;
gan. vice president and attorney.
Directors reelected are John H.
Davis. Charles H. Frame. William
F Friel, Warren w. Grimes, Otis
H. johnson, Harold Austin Wood
and the officers
District Building & Loan is a
member of the Federal Home Loan
Bank System. Federal Savings &
Loan Insurance Corp. U. S. Savings
& Loan and District Building &
Loan Leagues.
Peoples Drug Sales Higher.
Net sales Of Peoples Drug Stores,
Inc. in September totaled Sl923,-
1901. in comparison with $685.
27215 in September, 1889. an in
crease of S87 1888 Sc it was announced
today at the head Office OF the big
chain system This was a gain of
478 per cent.
In the first nine of this year Peo-
Piles drug sales totaled S17,002 1881,
against S16,321 ,55ll6 in the like pc
Rod in 1889, an increase OF $751;
1886, or AIT per cent.
Sales in August totaled $780,
01356. an increase of sl78,066.47 over
August a year ago, or 9.62 per cent.
DC Bank Votes Dividend.
Directors of the National Savings
& Trust Co. at their monthly meet
ing yesterday declared the regular
quarterly dividend of 81 per share
on the capital stock, payable Novem-
Der to stockholders of record at the
close of business October "a, Vice
President David Bornet announced
today.
The Board OF Trustees of the
East Washington Savings Bank. at
its October meeting yesterday,
erected James A. DonOhue first vice
president and Gratz E. Dunkum,
jr.. was elected a trustee. Secretary
S. Wilson EarnshaW announced to-
day. The late Graft E. Dunkum,
sr.. was an officer OF the East Wash
tngton Savings Bank for many years.
New Capital Outlets Seen.
The disappearance of the unde-
veloped frontier and the recent
trend toward cessation OF popula-
ton growth are likely to limit the
opportunities for capital investment,
Philip NJ Hauser, assistant chief
statistician for population IN the
Census Bureau declared yesterday
in an address at Chicago before the
American Life convention.
New developments, however, may
provide substitutes for the outlets
formerly provided by the frontier
and population growth. Among the
possibilities listed by MI. Hauser
are the development of standardized
or pre-fabricated inexpensive hous-
ing, plastics and increased produc-
ton of air-conditioning and cooling
units.
1T is conceivable that the de-
velopment of any one, or Comblna-
ton of these industries would absorb
a substantial quantity of available
investment funds" he said. The
increase of capital investment as the
result of new inventions. new
techniques and new processes in
existing industries would likewise
absorb additional outlets for capt.
tai"
Banks Have 26S,0OO Employees.
The Nations banking system now
employs more than 268,000 people,
according to a survey prepared by
the American Institute OF Banking.
educational arm of the American
Bankers Association.
The Institutes survey, prepared IN
cooperation with the Federal Re
serve Bank Board, Controller of
Currency, Federal Deposit Insur-
ance Corp. and various State and
savings bank associations, was made
in order that the educational needs
of bank workers in various parts OF
the country could be ascertalned
with view toward establishing ad-
ditional institute chapters and study
groups in localities where the num-
Der of bank employees justifleS such
action.
The banks in New York State
lead those of all other States IN
the number of employees, the survey
reveals. More than 10000 workers
are engaged by the New York
banks of which $4,000 are in Greater
New York City, Pennsylvania and
California rank second and third
with $4,000 and $4,000 employees, re-
spectively.
MountjOy Among Speakers.
Edgar E. Mountjoy, deputy man.
ager of the American Bankers As
ISOLATION, will address Group B OF
the Virginia Bankers Association
Saturday at Front Royal on Bank
Earnings and Probable Trends in
View of Present World Conditions"
it was announced today by Frank
S. Driver, chairman of the group.
Maxwell G.. Wallace, general coun-
sci of the Federal Reserve Bank of
ftlCIlNlOllu, Will dlSO otcoh, do WIZ
Eliot H. Thomson of Washington.
Chairman Driver reported from
Staunton that R. J. Barrett, Cliff
ton Forge banker, is on the program
which will open at Front Royal at
10 am. As Saturday is Columbus
Day, a large attendance from 10
Virginia counties representing 80
hooks jS apticjn9tpd
Chairman Driver will preside at
the annual meeting. the other Off
GERS being H. Ewing Wall of Guam
tico and P. w. Anderson of Mar
shall
S. E. c. Allows Bond Extension.
The Securities and Exchange
Commission has agreed to extension
of the bond offer made by the
~oo;to1 cnI Wo ShinCtny1