Evening star., 1942-02-13


1918 and soon afterward was ad-
mitted to the District Bar.
His first financial experience was
with the National City Co. in the
Washington Office. Later he was
with the Union Trust Co.. leaving
a position as teller to go to the
Booker investment firm.
He Is a member of the Columbia
Country, Bond Club of Washington
and other organizations.
Norment Heads River Line.
Clarence F. Norment, jr., was re-
elected president of the Norfolk &
Washington Steamboat Co., at the
annual meeting yesterday; G. W..
Forsberg was renamed vice presi-
dent, Odell s. Smith, secretary
treasurer, and J. Allen Riordon,
general manager.
Directors elected at the stock
holders meeting include Edgar N.
prawner, Wrisley Brown, G. w.
Forsberg, William D. Hoover, c. F.
Norment, jr.; J. Allen Riordon,
George P. Sacks, Odell s. Smith
and Corcoran Thorn. The annual
report showed a very successful
year.
These members Of the staff were
continued in Office: I. S. Walker,
general passenger agent; j. A..
Maxwell, auditor; G. E. Herring,
purchasing agent; D. Sawyer, su-
perintending engineer; C. H. Ray,
general freight agent, washington;
II. N. Larcombe, general agent,
Norfolk, Va; E. A. Powell, agent.
Alexandria, Va, and c. S. Revell,
Joint agent, Old Point Comfort, Va.
Interstate Officers Named.
John L. Weaver was reelected
president OF the Interstate Building
Association at the annual meeting
Of the shareholders, just held.
Other officers we're also retained,
Clarence Dodge and Earl M. Mack
intosh, vice presidents; Martin R.
West, treasurer; Edward K. Jones,
secretary, and Lawton E. Inabinet,
assistant secretary. Directors were
elected last week.
The annual report Of Edward K.
Jones, secretary, disclosed that re-
sources at the end OF 1941 totaled
s4,903, $40, as compared with So
612.3e7 at the end of the previous
year. Mr.. Jones stated that 1941
was the best year In the associa-
tons history.
37,7S0 Depositors Aided.
Leo T. Crowley, chairman Of the
Federal Deposit Insurance Corp,
reports that in the last six months
Of 1p41 seven insured banks sus-
pended or received aid, 37,790 de-
positors having total deposits Of
S1s,125, 900 being protected to the
extent Of s1s.057,000, or about "a
per cent of their claims, by insur-
arce or otherwise.
Chairman Crowley adds that dur
ing the full year 1941, Is insured
banks, with 71,769 depositors, all but
$40 Of whom were fully protected,
closed or received aid from the cor
poration.
Income for the full year amounted
to s62,043,573. including assessments
paid by 13,482 insured banks of
$51.396,51e. Total expenses and
losses for the year amounted to
$5,s4o,47s.
Chairman Crowley makes a single
reference to branch banking, stating
that unit banks are preferable
wherever possible.
Credit Group Honors Althaus.
John K. Althaus, secretary-treas-
urer Of the Associated Retail Credit
Men of Washington, Inc, was elected
president Of the Columbia Regional
Conference of Credit Bureau Execu-
tives at the 18th annual meeting in
Pittsburgh. The conference is COM
posed of managers of credit bureaus
in New York, New Jersey, Pennsyl-
vania, Delaware, Maryland. Virginia,
West Virginia and the District of
Columbia affiliated with the Associ-
ated Credit Bureaus of America.
Loan Delegates in St. Paul.
T. William Blumenauer, jr, of the
Columbia Federal Savings e. Loan
Association. and Miss Mildred Baron,
Perpetual Building Association. are
In st. Paul, to attend the annual
convention of the American Savings
and Loan Institute. Both delegates
are on the convention program. Over
500 members of the institute are
attending the conclave.
Today's Trading on Exchange.
Mergenthaler Linotype was strong
on the Washington Stock Exchange
today, following yesterdays holiday,
90 shares selling at 80. Peoples
Drug common was the only other
stock that was active, 100 shares
changing hands at 20, off y from
The last preyiOus sale.