Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-11-24

week ending
Move b er Is
showed an II Paul Endicott.
per cent gain over last year, group
of cities revealed gain of II per
cent, while Baltimore sales were 81
per cent better than a year ago.
Compared with the previous week
this year, the average for the fifth
district was up per cent. Sales in
a group of cities were down 10.6 per
cent, and in Baltimore were off %
per cent.
In the four weeks ended Novem-
Der 16 cumulative sales in Washing
ton were 100 per cent better than
in the corresponding period year
ago and fractionally ahead of the
fifth district average gain of 10 per
cent. In this comparison Baltimore
stores sales were up IT per cent,
while a group of other cities made
the best showing with rise of 1873
per cent over last year, the Rich
mond bank announced.
In commenting on Christmas trade
yesterday, Washington merchants
expressed belief that the holiday VOL
Tune will run ahead of last year by
at least 10 per cent. Trade already
has displayed great activity, they
added.
EndicOtt New Loan President.
Paul Endicott, newly elected pres
ident of the United States Savings
and Loan League, of which the Dis
trict Building and Loan League is a
unit, has been president of the
Home Builders Loan Association in
Pomona, Calf, for 20 years.
His entire business life has been
spent with this organization, having
Joined the staff in 1912, just after
graduating from the University of
Iowa. The association has grown
to five times its size when he took
over the management.
Born in Brighton, Iowa, he was
elected president of the United
States League just nine days after
his 50th birthday anniversary. He
has held very important committee
posts in the league and is director
of the Federal Home Loan Bank of
Los Angeles.
Banks Seek Defense Loans.
Members of the American Bank
ers' Association will meet with Gov
eminent officials here tomorrow, in
an effort to simplify and clarity
steps required in obtaining defense
loans. Anxious to do a great deal
of such lending, banks so far have
been hampered in actually complet-
ing the details.
Wilmer J. Waller, an official of
the Hamilton National Bank, is a
member of the A. B. A. Committee.
The fifth district representative is J..
Harvey Wilkinson of Richmond Re-
suits of the conference will be
awaited with unusual interest.
Washington banks have made a
few loans under the Assignment of
contracts plan," but it is realized
that most of this lending will have
to be in a more active industrial
territory than the Capital.
COlladay Acts for District.
The Bondholders Protective Com
: mittee of the Associated Gas g.
Electric Co. yesterday appealed to
Federal and State public utility rate
and security regulatory bodies not
to sacrifice" investors in their eff
forts to protect" consumers.
The committe announced appoint
ment of regional representatives
in Is States and the District of
Columbia. Edward F. Colladay, a
member of the Protective Commit
tee, is the Washington representa-
tive. The committe claims regula-
tory bodies are too severe on the
huge corporation now that the for
mer management has passed.
The committe is working for hold
ers of nine bond issues owned by
$1,000 persons. The appeal was sent
to the Securities and Exchange
Commission and the Federal Power
Commission.
American Co. Votes Dividend.
Directors of the American Co.,
real estate firm in the Southern
Building, have declared another
dividend of $3.50 per share on the
preferred stock, payable December
6 to stockholders of record Novem-
Der 20, Nathan Poole announced yes
terday.
Reports from the Chicago con-
vention will be the high light of the
monthly meeting of the District
Building and Loan League, at the
Raleigh HOTEL, Tuesday noon, Will
liam N. Payne, jr., presiding.
Heard In Financial District.
The total October contract valua-
ton for residential and non-resi-
dental building and engineering
construction in the Washington
Metropolitan Area was $12,386, 900, a
gain of so per cent over october,
1899, H. A. Johns, Dodge Reports
manager, reported yesterday.
Ten shares of Mergenthaler Limo
type stock sold at Is on the WASH
ington Stock Exchange yesterday,
ending the week with 241z bid and
n asked. Potomac Electric Power
81 per cent preferred moved at
1i41a, the 6 per cent issue sold at
1161z and Capital Traction IS at
104%.