Evening star., 1942-10-15
s1,oOo,0O0 Asset Mark Noted


The First Federal Savings and
Loan Associate of Arlington cele-
brated crossing the S1,000,000 mark
In assets at a dinner at the Wash
ington Golf and Country Club last
night, more than so guests being
present.
Allen c. Adams. president, pre-
sided and among the speakers were
C. Edwin Kline, representing o. K
La Rogue, president Of the Federal
Home Loan Bank of winston
Salem; Ashton G. Jones, association
treasurer, and George M. Yeatman
former president Mr.. Jones and
Mr.. Yeatman are charter members
of the association, which was organ
tzed in 1885.
Mr.. Adams reported particularly
rapid growth during the past year
Banks Press Tax Note Sales.
Washington banks are running
cooperative advertisements in the
newspapers urging the public to
Guy more tax anticipation notes. A
recent report showed that these
notes already are being purchased
In very large amounts by residents
Of the Capital and the rest Of the
fifth district.
This drive TO help the taxpayer
Is in addition to the vigorous ef-
forts made by the banks to expand
the sale of War savings bonds
carried on for many months The
results of the latter campaign have
been notable, as it is announced
in Treasury circles that banking
institutions have handled about IS
per cent of the War bonds dis
tributed to the public.
AS Washington banks have de-
cided not to maintain Christmas
Savings Clubs in 1943, officials are
planning to suggest that much of
the money which might be put into
Christmas savings be turned into
War bond channels.
Bank Declares 81 Dividend.
Directors of the National Savings
l. Trust Co. have declared a dividend
of ST per share on the capital stock,
payable November to stockholders
If record October "a, Bruce Baird,
president, announced today. This is
the same quarterly payment the
company has been disbursing for a
long time.
The Financial Credit Corp, located
In the Investment Building, paid a
dividend today of so cents per share
on the $40 per cent cumulative pre-
ferred stock to shareholders of rec
ord on October 10, President Guy G
Harper, jr., announced.
Thousands of holders of American
Telephone stock in this city received
the regular quarterly dividend OF
s2.25 per share in today's mail.
Verdelin Commissioned Major.
Henry Verdelin, national presi-
dent of the American Institute OF
Banking in 1886, has been commits
stoned major in the Army and will
oe stationed in Washington, having
been assigned to the Price Adjust.
ment Board.
Mr.. Verdelin is a vice president
Of the Mutual Life Insurance Co
of New York. Prior to taking
charge of the company's real estate
activities in 1910, he was assistant
vice president of the First Nationa
Bank & Trust Co. of Minneapolis.
He is friend of many member.
Of Washington Chapter, ALB.
Postal Savings at New Peak.
Postal savings continued to clint
rapidly during August. Depositors
balances in the system at the enc
of August reached new high
amounting to 100000. com
pared with $l,329 ,O00,000 at the ent
of the previous month and Sl,309,
o00 1000 in August, l94l.
Joseph Quinn, for nine years Z
customers man with Merrill Lynch
Pierce, Fenner e. Beane. has beer
commissioned lieutenant q. g. il
the Navy and will 60 into the servic,
at once. He is the fourth man from
the Washington office to enter tn,
war.
Henry A. O'Neill and Julius Sinkel
have been added to the board o.
governors of the District of Colum
nia Institute of Certified Public Ac.
countants, succeeding Paul E
Blocker and Simon w. Levitan. VIII
have entered the service.
D. c. Home Loans Down.
Home loans totaling $750,600 wer,
made during August by the Dis
trict Of Columbia's II insured build
ing associations, compared with ST.,
350,500 in the previous month ant
$l.657,6 ,653 in August, l94l, the Fed
eral Savings g. Loan Insuranc.
Corp. reported today.
New construction loans amounted
to only $l05, 400, due to wartime re-
strictions on building materials
while loans to finance the purchas
Of homes totaled $3ll, 800.
The public placed $l,06s. 200 IL
new savings In these same institu
tons in August.