Evening star., 1940-06-21

NAuACo piano w otIAoSO CNCAy IA Q
underwater in the Capital, about
5000 in number, into the associa-
ton; steps to merit public conf
dence by strict enforcement of pro-
fessional ethics, and better public re-
lations activities to enlighten policy
I holders of significant developments.
Joseph A. Marr, retiring president,
was presented with waterproof
:, watch in appreciation of his services.
Other officers installed are: Ray
mond A. Du Four. Massachusetts,
Mutual, first vice president; James
A. De Force, Continental American,
second vice president: Paul Grove,
Home Life, treasurer: Vaughn Sum-
mers. Lincoln National, secretary.
Committee Chairmen Named.
, Raymond B. Hotchkiss, Phoenix
Mutual: Mr. Du -Four and Mr.. Grove
are new members of the Board of
Directors taking Office yesterday. Mr.
Marsh announced the appointment
Of committee chairmen as follows:
Advisory. Richard w. Griswold,
Guardian Life: banks and trust COM
panies, Mr.. Marr and Mr.. Du Four;
field practices, Paul H. Prim, Mutual
Life of New York; cashier section,
Merrill G. Beede of Aetna: industrial
insurance William B. Rumplc of
Metropolitan; legislative, John F.
Cremen of Massachusetts, Mutual;
managers section. Theodore w.
Cook, National Life of Vermont;
membership, David S. Bethune,
Equitable of United States: publicity,
Arthur H. Minor of PRUDENTIAL: ma
tional observance, Robert w. Castle
of Massachusetts Mutual; Welcome
Committee, j. E. McCombs; Wom-
ans Committee, S. Elizabeth Trump;
registrar of life institute. Vaughn w.
Summers.
Bank Profits Best in Five Years.
Net profits of State banks engaged
In commercial banking business were
moderately higher in 1889 than in
the previous year, according to the
sixth annual survey of bank earn
ings and expenses made public today
by the State Bank Division of the
American Bankers Association. The
rise was due principally to substan-
'tial recoveries and profits obtained
q on securities sold, the survey shows.
Net profits after recoveries and
charge-offs, but before dividends,
were $168,132 900, or 24.5 per cent
of gross current operating earnings.
Ethe highest percentage attained for
this figure during the past five years.
Security Storage Dividend.
Directors of the Security Storage
Co., meeting yesterday, declared a
dividend of $1.25 share on the
capital stock, payable July 10 to
stockholders of record at the close
of business July S, it was announced
today. The stock pays S. year.
M. H. Calnan, president of the
Liberty National Bank. is a pa
tient in Doctors Hospital, recover
Ing from an operation for appendi-
citis. He will leave the hospital
shortly, it was announced today.
Directors of the State Loan Co., a
Maryland corporation, yesterday de-
clared the semi annual dividend of
2 per cent on the preferred profit
sharing stock, payable July l to
stockholders of record June l. Off
cials said today that $94 per share
has been paid on the stock, 19 divi-
dends having been disbursed.
Today's Trading on Exchange.
washington Gas Light preferred
stock registered sales totaling 50
shares on the Washington Excnange
today at 103.
Washington Railway & Elecuric
preferred moved at 108 and 1881 on
sales of single shares. Potomac
Electric Power per cent preferred
moved at 112.
Mergenthaler Linotype appeared
on the board today at 14%. same as
yesterday, on 23-share turnover.
Twenty shares of Capital Transit
changed hands at 1915 and five more
moved at H.
It is anticipated that The May
report of the Capital Transit Co.
will be in line with other reports
this year and be highly favorable.