Evening star., 1941-06-20

other member form the Executive
Council.
William F. Orrisman, jr, Amer
lean Security & Trust Co., was
elected a member of the Executive
Council.
New Committees Appointed.
r'or the coming year Mr.. Orrisman
was appointed chairman of the
Budget Committee. the other men,
bers being Fulton H. Nixon, Security
Savings & Commercial Bank, and
Jack H. Wild, Washington Loan &
Trust Co.
D. D. Whitcraft was made chair
man of the Program Committee;
James r. Bridges, Riggs National,
chairman of the Publicity Commit
tee, and Harold w. Dennison. Bank
of Commerce e. Savings, chairman,
Membership Committee.
A reception and dinner preceded
the business meeting. Among the
guests were A M. McLachlen, T.
Stanley Holland, John A. Reilly
A. Scott Offutt, Albert S. Galley,
Donald w. Larson, all officers. of the
District Bankers Association. and
John M. Christie, president, Wash
ington chapter, American Institute
Of Banking. Many wives were also
present.
Mr.. Thomas, the new chairman.
went to the Liberty Bank in 1884
as auditor and was elected assistant
cashier in January year ago. He
started in banking in 1918 with the
old United States Trust Co., was
with the Franklin National from
1917 to 1926, and for time was
engaged in Government work and
in life insurance. He was born in
Frederick County. Md.
d. c. Sales Up 10 Per Cent.
Department store sales in the
Capital in the week ended June IA
ran 10 per cent ahead OF sales in
the corresponding week year ago,
the Federal Reserve Bank of Rich
mond announced today. Sales we're
per cent under the previous week
this year.
Sales in the Fifth District in the
week ending June IA were IL per
cent ahead of last year, were up
IL per cent in Baltimore and IT per
cent in group of other cities. Sales
in the Fifth District were 2 per
cent behind the previous week this
year.
Cumulative sales in Washington
stores for the four weeks ending
June Is revealed a 16 per cent ad-
vance over the same period in 1910.
Sales in the Fifth District were up
IS per cent, advanced IA per cent
In Baltimore and 13 per cent in the
other cities, the review said
The percentages are based on re-
ports from l9 leading department
stores.
More Dividends Announced.
Directors of the Security Storage
Co. have declared a dividend of 81
per share on the outstanding stock,
payable July 10 to stock of record
July 5. Secretary Paul Alvey an
nounced today.
Directors of San-Nap-Pak Manu-
featuring Co. have declared a divi-
dend of IS cents per share on the
common stock, payable June 80 to
stockholders Of record June 20. The
regular dividend on the preferred
was also declared.
Gross sales of the company are
reported to show an increase of ap-
proximately IS per cent over 1910 to
date. 1t Is estimated that net
profits before taxes are running at
about twice last years earnings.
Banks in Strong Position.
Washington nine national banks
had loans and discounts amounting
to S61 ,524,0 on April 4, 194l. ac-
cording to a survey just completed
by Controller of the Currency Pres
ton Delano. The same banks had
Government obligations amounting
to S72027,O00 and total assets
amounting to S282 SOL 900.
Controller Delano reports that the
same banks held demand deposits on
that date of sl64,868,000, time de-
posits amounting to s50,889,0 900 and
deposits of other banks in the sum
Of $40, O,441 900. Total deposits in the
nine Washington banks amounted
to s260,196,Oo0
The nine national banks had total
liabilities on the date of the April
call of $3.50, IT'S, 900. Capital stock
totaled S3,600,000; surplus, $7,195.-
600; undivided profits. s5,131 900.
Capital accounts totaled $2l, ,726,0 900,
the survey says.
Five in Graduating Class
OF the II bankers from Washing
ton attending the Graduate School
of Banking at Rutgers, five will be
graduated this year, an announce
ment from New Brunswick states.
Members of the class of 1941 in
clude John F. English, connected
with the Federal Reserve Board !;
Kenneth o. Hulse, assistant cashier,
Hamilton National; John E. Monk,
assistant cashier, Bank of Com
merce 81 Savings; Paul j. Seltzer,
assistant treasurer, American Secur-
ity g. Trust Co., and Frederick Solo,
mon, Federal Reserve Board.
Awarded Convention Trip.
Bernard L. Wilmer. general agent,
State Mutual Life Insurance Co.;
Leon Katz, Maurice D. Rosenberg,
1r.. and S. G. Fischer have qualified
for the national convention to be
held at Cavalier Hotel, Virginia
Beach, next week. The company is
81 years old this year.
In the first five months OF this
wear the Chesapeake & Ohio Rail
way earned s139 share on the
common stock, against $l.65 share
a year ago. the decrease being due
to the recent coal strike.
Fifteen shares of Washington
Gas Light preferred stock sold al
103 on the Washington Stock Ex-
change today. Capital Transit is
now being quoted ex dividend. The
bid for Mergenthaler Linotype To-Day
1ai Nh lag