Evening star., 1941-06-18

the board; Thomas D. Webb, vice
chairman; William F. Penniman,
James M. Rountree, F. w, Hancock,
jr., w H. Husband, oscar Kreutz,
head OF the Federal Savings and
Loan Insurance Corp: MAJ. Francis
Clarke, of the Treasury; Thomas N.
Fisher. Representative Everett Dirk
sen, Col. Harold Lee, general counsel,
Federal Home Loan Bank; Morton
Bodfish, executive vice president,
U. S. Savings and Loan League;
Roger w. Whiteford, Waverly Tay-
ior and Charles Rush.
William N. Payne, jr., president
OF the League and of the Eastern
Building & Loan Association, will
preside at the dinner. A long list
of prizes will be awarded and re-
ception for the special guests will
be held previous to the dinner which
Is set for 7 o'clock.
Bills In Congress Advanced.
Senate Bill 1438, which increases
the powers of the r. F. c., has re-
Gently been signed by the President
and is now law. AS finally passed,
the amount which the R. F. C. may
have outstanding at any one time in
connection with the creation of sub
sidiary defense corporations was re-
duced from 100000 900 to 5000 ,OOO.-
900. Specific limitations on use of
the funds were also added.
House Bill 1888 amending Titles
and II of the National Housing
Act has now been passed by the
Senate and sent to conference.
Senator Bankhead proposed an
amendment to this bill providing for
the insurance of farm tenant mort
cages by the Secretary of Agricul-
ture. this amendment being passed
by the Senate. The Senate reduced
the period of extension of insurance
under Titles I and II to two years
instead of three as favored by the
House.
House Bill 1876, which would ex-
tend to June 80, 1943, the Presi-
dents power to devalue the dollar,
and continue the gold stabilization
fund for an additional two years,
has been passed by the House and
k pending in the Senate Banking
and Currency Committee.
Other Bills Move Forward.
House Bill 1912, extending the life
Of the Commodity Credit Corp. to
June 80, 1916, has been reported
favorably by the House Banking
and Currency Committee, and is
pending on the House calendar.
This bill increases the aggregate
amount of obligations which the
lcorporation may have outstanding
,at any one time from 1,400 900 900
Ito 81, $50, ,0000 900.
The Senate Banking and Currency
lCommittee has reported favorably
1.-THE bill extending to June 30 1943,
the period during which direct
tobligations of the United States
may be used as collateral security
Ifor Federal Reserve Notes.
The committee also favors the bill
removing the requirement that the
annual report of the Controller of
the Currency to Congress be made
at the commencement of the SeS-
sion" Both bills are on the Senate
icalendar.
Two recently introduced bills of
lspecial interest to national banks
Iprovide for the disposition of un-
Iclaimed deposits and for extension
Iof banking facilities to military res
ervations, and at navy yards and
stations. Both bills are in COM
mittee.
Agents Win Convention Trips.
Raymond A. DuFour, Washington
general agent for the Pacific Mu-
itual Life Insurance Company. and
Jones Lawson, agent, have qualified
for the company's annual sales con-
vention to be held on July 7, in Sun
Valley, Idaho.
p Production for the agency for the
drst six months of 194l totaled 13
times the first six months of last
year. This increase in paid busi-
ness is due to the personal produc-
ton of General Agent DuFour and
the addition of five new men to the
agency force.
Bethesda Bank Votes Extra.
Directors of the Bank of Bethesda
have declared the regular Semian-
nual dividend of IL per cent and
also an extra dividend of per cent
both payable on June 81 to stock
holders of record June II, President
George P. Sacks announced today
These are the same payments as the
bank made year ago at this time
Directors of the American Secur-
ity & Trust Co. have declared the
regular quarterly dividend of 2 per
cent, payable July 10 to stockhold-
ers of record June 80, it was an
nounced today.
Director of the Real Estate Title
Insurance Co. have voted the uSua.
semiannual dividend of per cent
payable June 80. The board has also
declared the usual 3 per cent semi
annual payment on the stock of the
Columbia Title Insurance Co., pay
able on the same date.
Insurance Sales Unchanged.
Sales of life insurance in Wash
InRUOn III May IOCdlcu SO,0o ,OoO
practically the same as for May
year ago, the Life Insurance Sales
Research Bureau at Hartford, Conn.
reported today. Sales in the District
In the first five months of this yeal
totaled $28, 8,648, 900 and were pei
cent ahead of last year, the report
added.
Mergenthaler Leads Market.
Mergenthaler Linotype stock came
to life on the Washington Stock
Exchange today and led the market
In fact, monopolized it. The market
opened with so, Is and rs share lots
selling at %, up from the last pre-
yious sale at 203s. The days turn
over reached $50 shares when so sold
at the close at 221a.
Tiremens Insurance Co. STOCK
figured in q 15-share sale at 33, frst
sale on the board this year.