Evening star., 1942-04-23
Marked Progress Reported.

N
Edward r. Colladay. member OF
the General Protective Committee
for Associated Gas 81 Electric Co,
bonds, is distributing to committee
Constituents a report on recent
progress which the report says has
been substantial.
Extensive hearings before the Sc
curities and Exchange Commission
on simplification OF the system have
taken place, simultaneously with
the litigation in New York. Holders
of other bonds have claimed parity
with the fixed interest obligations,
thus causing special opposition by
the committee. -
The committees accountants have
presented q great many facts to the
trustees, the courts and the S. z. G,
The committee is doing everything
possible to press the reorganization
plans and guard the bondholders
interests.
Bankers Return From Council.
Washington bankers were back in
the financial district today from the
A. 3. A. Council meeting in Chicago.
They said the most important re-
port presented was that of the Eco
nomic Policy Commission which was
devoted almost entirely to sugges-
tions of financing the war. The
bankers feel that they share equal
responsibility with the Government
In planning the best financing
methods, the report said.
Those attending from Washing
ton were Charles H. Doing, Robert
v. Fleming, George o. VaSs. Wilmer
]. Waller, Francis G. Addison, D. J.
Neeham, J. o. Brott and Ernest M.
Fisher.
Group Insurance Urged.
George Mcdowell, president OF
the Newark Underwriters Assocla-
ton and manager of Loyalty Group,
was the guest speaker at the
monthly meeting Of the Greater
Washington Association OF Accident
and Health Underwriters, held at
the Hamilton Hotel.
Mr.. Mcdowell urged group in
surance as the logical coverage
against loss Of income due to dis
ability, adding that the growing
need for such protection has been
emphasized by various Government
agencies.
Announcement was made of the
sppointment of N. c. Wing as the
associations entertainment chair
man. The president is Ivan Fuqua.
Today's Trading on Exchange.
CAPITAL Transit sold at 2oiz on the
WASHINGTON Stock Exchange TO-DAY
UNCHANGED. American Security &
Trust, Washington Loan & Trust
and American Fire Insurance have
been added to the eX-liSt.
washington Railway & Electric
common is being quoted at s4eo
share bid and $50 asked, the first
time in years that the spread be-
tween the two has been less than
800.
w. E. Dent, who has been with
Smiths Transfer & Storage Co. fol
20 wears. has been promoted TO gen.
eral manager. President Arthur c
Smith announced today. Robert J
Woods has been made general sale;
manager. The firms new ware
house adds 100000 feet TO storage
capacity.
Financial District Comment.
The annual meeting Of the Amer
tcan Bankers Association in De
troit next fall will be called a VA
conference instead OF a convention
A day and half will be cut of thu
program, with golf and ali enter
tainment features omitted, Tit
various divisions will hold theil
usual sessions
The bowling league made up O
employees of the Capitals building
and loan associations is just wind
Ing up a most interesting season
The various teams will have I
dinner at the Mayfiower Hotel OF
Monday evening, May 4. vhel
prizes will be awarded the winners
followed by special entertainment
J. E. Crown Of the naval gu
factory was elected director in tn
American Foundrymen's AsSocia
tfon at the annual meeting JUS
concluded in Cleveland.
The Federal Reserve April bul
ietin says that during the fou
weeks ending April Is holdings O
Government securities at banks il
leading cities increased by nesrl
800. .0oo. 900, while commercial loan
declined somewhat. following g ris
tn previous weeks.