Evening star. [volume] (Washington, D.C.) 1854-1972, 1941-06-19


COL. In the South Atlantic States
business was up per cent in May,
according to the Hartford report.
Sales in the Capital so far in l94l
compare as follows with the CORE
spending months in 1910:
1941. 1910.
January S49l4,O0O $467l 900
February ----- 1922 900 4624,00O
March -------- 6.533,OOO 5U3l ,uOO
April ------- 6,Ol2,O0O 5ibo'ooo
NAV 100000 $3.50 900
League Outing Makes Record.
More than 200 members of the
District of Columbia Building and
Loan League attended the third
annual outing at the Washington
Golf and Country Club late yes
terday. making a new record at
tendance.
Perfect weather for golf, a fine
dinner and some 30 or 40 prizes kept
interest at a high pitch until ad-
iournment. President William N.
Payne. ir., greeted the visitors, many
Home Loan Bank officials and others
being included in this list
Chaplin B. Bauman was general
chairman of all arrangements; c.
Gay Harrell was sports chairman
and John G. Kolb, dinner chairman.
Elmer J. Carlson, Wllfred H. Blanz
end Carl J. Bergman we're also
very active in the arrangements. All
the members declared the outing
the best yet held.
Mergenthaler Earnings Rise.
Sales totaling $50 shares of Mer-
cernthaler Linotype stock on the
Washington exchange yesterday, at
an advance of nearly three points,
has drawn attention TO this issue
after long, quiet spell,
1t is understood that the company
has recently shown constant I'M
provement in net earnings, and that
Mergenthaler now has more than
100000 in orders connected with
the Government defense program.
This is a sharp gain from the
S6,00OOO0 in Government orders re-
ported several months ago.
She Brooklyn plant is running at
capacity In addition to the defense
orders, it is known that general
business progress all over the coun-
try has resulted in the stimulation
of the printing business, which has
Increased the demand for typo
graphical and other printing ma
chimes. This means important I'M
movement in Mergenthaler' regular
line of business.
The improved condition of the
company has set stockholders to-
talking about dividend prospects.
The fiscal year ends September 30
Net last year was $4l000. 1t is
expected to be far more than that
this year.
Credit Union Changes Urged.
Representative Patman has in
troduCed three bills in the House,
H r. 1876. H. r. 4977 and H. R.
1878. amending the Federal Reserve
Credit Union Act, the bills being
referred to the House Banking and
Currency Committee. Senate bill
1547, a companion bill to H. R. 4976,
introduced by Senator Mead. is be-
fore the Senate Banking and Cur
rency Committee.
These bills contain technical
amendments to sections of the
Credit Union Act relating to or
Canization fees; issuance OF shares
IN Joint tenancy with right of sur
worship: surety bonds of officers
end employees; meetings of Credit
Committee; pass books and dlVl-
dends
One of these bills would subject
Federal credit unions to taxation
or contributions under State unem-
ployment compensation laws ap-
proved by the Social Security
Board. Another amendment would
waive payment of interest during
the period OF military service on
loans to all members granted under
the Soldiers and Sailors Civil Re-
lief Act of 1910.
RoWzee Committee Chairman.
George N. RoWzee of the Lincoln
National Bank has been appointed
chairman of the Program Commit
tee of Washington Capter, Ameri-
can Institute of Banking by the new
president, John M. Christie, it was
announced today. He will arrange
a program of all chapter activities
for the coming year.
Mr.. RoWzee is second vice preSl-
dent of the chapter, is graduate
of the institute and has served as
chairman of other important COM
mittees, the most recent being the
Public Speaking Committee.
Semi annual Dividend Voted.
Directors of the Second National
Bank nave declared the regular
senli-an1ual ividend of per cent,
payable June 30 to stockholders Of
record June 20, President John A.
Reilly announced today.
The directors also added $4,000
to the surplus account, Mr.. Reilly
stated.
Traction Bonds i'm Demand.
Three $1,000 transfers in Capital
Traction IS were recorded on the
Washington Stock Exchange today,
all at 103l2,
Mergenthaler Linotype came out
again today, 100 shares moving at
2217, same as Yesterdays close.
Final bid 22L, with % asked A
single share of Security Storage
sold at rs.
Defense Boosts Air Express.
Air express shipments of heavy
industries products used in national
defense preparation increased 1903
per cent in April over the CORE
spending month two years ago. &C
cording to the Railway Express
Agency.
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