Evening star., 1940-06-20

ance Co., was elected vice presi-
dent and o. H. Ritenour, controller
of the Washington Gas Light Co.,
was named secretary-treasurer
Directors for the coming year are
Harold G. Hayden, controller, Po-
tomac Electric Power Co.; Hum
phrey Lloyd, controller, Washing
ton Properties, Inc, who was presi-
dent of the chapter last year, and
L. J. Van Herpe of the Securities
and Exchange Commission.
Donnelly Wins Golf Trophy.
Urban Donnelly of the Washing
ton Permanent Building Association
won the District Title Insurance
Co. golf cup at the annual outing
of the District Of Columbia Building
and Loan League held yesterday at
the Washington Golf and Country
Club Low gross honors went to
Louis Fuchs of the American Build
ing Association, who was presented
a fine golf bag.
Arthur G. Bishop, president of
the District, Lawyers and Washing
ton Title Co.'S, and chairman OF the
board of the Perpetual Building As
sociation, presented every member
of the association and all the guests
with fine briefcases in which they
can carry all their weighty and
important papers. William N. Payne.
jr., president of the leage, presided
at the dinner, with George H.
O'Connor serving wit, wisdom and
song as master of ceremonies.
Chaplin B. Bauman was general
chairman of the Arrangements
Committee, assisted by Carl ]. Berg
mann, C. Gay Harrell, John j. Kolb
and Mr.. Payne. Many guests were
introduced and Morton Bodfsh of
the national organization urged
Washington members to work hard
for the passage of building and loan
legislation now before Congress.
u. C. Store Collections Lag.
Collections in Washington depart
ment stores during May were not
quite as good in the whole Fifth
Reserve District and in some in
dividual cities.
During May collections in Wash
ington were 289 per cent of the bills
due the first of the month, against
payments of 304 per cent in the
Fifth District, 80 per cent in Rich
mond, 80 per cent in Baltimore and
% per cent in a group of other
cities.
The Federal Reserve Bank Of
Richmond reported today that
stocks of goods in Capital stores at
the end of May were So per cent
higher than on the same date a
year ago, but were 28 per cent lower
than at the end of April this year.
Cleland Enters Naval Service.
John B. Cleland, chairman of the
Program Committee Of District OF
Columbia Chapter, Chartered Life
Underwriters, who is reserve Of
ficer in the Navy, has been called
to Florida for duty and has re-
signed his Craftsmanship. Richard
w. Griswold, manager of the
Guardian Life Insurance Co., who
has been secretary of the chapter,
has been appointed program chair
man, and John L. McElfresh, head
of the Washington office OF the
Connecticut Mutual, has been named
secretary.
ID. c. Banks Vote Dividends.
Directors of the Lincoln National
Bank have declared the regular
semi-annual dividend of ~ per
cent and an extra dividend of 2h
per cent, both payable on July to
stockholders of record June 20,
President Floyd G. Davis announced
today.
Directors of the American Secu-
rity & Trust Co. have declared a
quarterly dividend of per cent on
the outstanding stock, payable July
10 to stockholders of record June
%, President Corcoran Thorn an
nounced today.
Today's Trading on Exchange.
Bonds were in the best demand on
the Washington Stock Exchange to-
day. Capital Traction SIS came out
at SO on a $1,000 transfer, followed
by a $4,000 transaction at the same
price.
City e. Suburban IS appeared on
the board today, a $1,000 bond NOV
ing at 10O1s and another $1,000 sale
being registered at 100 fiat. The
last previous sale was made at 103ks
In the stock division so shares of
Mergenthaler Linotype came out at
IAN, against sales last week at 1885
Ten shares of Lincoln Service Corp.
cnmmon sold at ~ against IN m tho