Evening star., 1941-07-20

tion 10 a we'll zAa zs'lI1A
known WASH Mr.. Sanderson.
ington bank officer.
In his new capacity" explained
Mr.. Christie. Mr.. Sanderson's
duties will be TO govern the interests
of the national association III TINS
area. Washington Chapter feels
honored to have this appointment
conferred on Mr.. SanderSon mas
much as il mas been some years
since a member of the local chap
ter has held that position.
Mr.. Sanderson is past president
of Washington Chapter. He is a
graduate of Rutgers University
Graduate School of Banking, and
also chairman of the Southern DiVi-
sion of the National Public Rela-
tions Committee A. I. B. Having
participated actively in the banking
Institutes affairs for many years,
Mr.. Sanderson is well qualified to
fill this important new assignment.
Building Association Grows.
Resources of the Northeast Build
ing Association have reached new
high of s2.I28,000. it was disclosed
at the recent Silver Anniversary
meeting of the shareholders, to
celebrate the 25th anniversary OF the
founding of the association.
S. S. Symons. secretary. announc-
ing the new high figure, said the
past year was "one of the best in
the history of the association"
Gain in resources for the year was
s427 ,000 More than $4,000 was
paid in dividends to members dur
ing the year while $4,000 was
transferred to surplus.
Loans made during the fiscal year
on improved D. C. real estate
totalled $500 of which $121 900
was for construction purposes. Mr..
Symons stated applications for $685.
600 of construction loans still were
pending
For four directors it was truly a
silver anniversary. James L. Sher-
wood. William S. Torbert, Mr..
Symons and DR.. Allen E. Cowles,
all still active in association affairs
were among the group that Or
ganized the association in 1916
After the election of directors the
following officers were reelected:
James L. Sherwood. president: Will
liam S. Torbert. vice president and
counsel: Henry C. Althoff. vice
president; Schuyler S. SymonS, sec
retary; DR.. Allen Z. CoWles. as
sistant secretary; James E. PAYNE.
treasurer; Hazel R. Engelbrecht. as
slstant treasurer.
Directors named included Julian
r. Belfield R. j. Boehs, N. T. Cha
conas, Alfred L. Foster. j. A. Open
shaw. John B. RubinO. Roy L. Sven
son and the officers. The board paid
tribute to A. L. Foster. James E.
Payne and H. c. Althoff, who have
been identified with the organiza-
ton since its inception.
Honored guests at the Sharehold-
erS meeting was Carol K. Morrison
OF StauntOn, Va, one of the original
stockholders in 1916 who maintains
share accounts for his entire family
League Council to Meet.
F. Wilson Camp, secretary of the
District of Columbia Building and
Loan League. has called a meeting
of the leagues executive council for
Tuesday. II 80 P NJ, at the Raleigh
Hotel. Regular sessions of the league
membership will be resumed with
the monthly meeting in September.
Directors Reelected.
Stockholders of the National
Union Insurance Company of Wash
ington at recent meeting re-
elected the following directors for
the year: VIM. L. Beale, Chas. r.
Brown, Floyd E. Davis, Beryl r.
English, j. Wrlley Jacobs, Alfred H.
Lawson. Walter S. Pratt, Jr., John
Saul. The board organized by the
selection Of the following officers:
Alfred H. Lawson. president; John
Saul, vice president: FLOYD E Davis,
vice president; VIM. H. Marbury,
asst. secretary: James H. Atkinson.
asst. secretary.
Capital Ranks Second
Washington ranked second among
the nations cities in increase in
gross revenue from air express
handled in May. 194l. with a gain
of 1872 per cent over May. 1910. the
Air express division of Railway EX-
press Agency announced Shipments
for the month increased 49 per cent
over the comparable period last
year. Huge increases in long haul
national defense traffic were reSpOn-
sible for the high marks. Gross reVe-
nue. from nation wide air express
in May was the highest in history
a gain of As per cent over May 1910.
Financial District Notes.
Harold w. DenniSon, controller
of the Bank of Commerce and Saw
ines. leaves tomorrow for a two
weeks vacation.
Frederick H. Cox, vice president
of the City Bank of Washington is
on an extended automobile trip,
planning to return late this month.
Lanier P. McLachlen, president of
McLachlen Banking Corporation is
on a fishing vacation in New Hamp-
shire
Willard G. Barker, president OF
Morris Plan Bank is on vacation.
John A. Reilly. president of Sec
ond National Bank, who is first vice
president of the D. c. Bankers As
sociation will address the Graphic
Arts Association at its luncheon
meeting tomorrow at Capitol Park
Hotel.