Evening star. [volume] (Washington, D.C.) 1854-1972, 1942-05-20
Bond Club S Outing
Called Off Because
OF Gas Rationing
Members Will Receive
Refunds on Tickets
For Annual Event
By EDWARD C. STONE.


the Board of Governors has called
off the big annual outing which wa
to have been held at the Manor Clul
In MARYLAND on Friday, June II.
Austin B. Rohrbaugh, genera
chairman of the outing, announced
today that the annual event hat
been suspended, at least for thu
present. and that refunds Will III
made to members of the club wht
have already subscribed for tickets
The annual outing always draws
practically all the members OF thu
club, as we'll as many guests.
Notices being sent to member!
state that the Board of Governor!
gave the matter very serious con-
sideration and decided, in the in
terest of national conservation anc
economy, to dispense with the out,
ing"
1T was felt" the notice added
that with the recent gasoline ra'
tioning, the conservation Of tires
and the absence of quite few mem
bers in .rvice, it would be wist
policy to follow the general trenc
and suspend the outing for the
present"
EIectiO. to Be Held Soon.
The board will arrange lunch.
con in the near future or some Other
form of get-together. when the an.
nual election of officers for the COM
ing year will be held. Mr.. Rohr-
baugh announced. The present
officers are j. Clifford Folger, pres
ident; Myles H. Quail, vice presi.
dent; Harold C. Patterson, secre-
tary- treasurer.
Committee chairmen, who had al
ready put lot of work into makins
the yearly frolic a complete success
include J. Newton Brewer, jr
George NJ Ferris, William c. Coe, c
c. Allies, Bernard j. Nees, John Hoff
man, Richard Winder and Frank
lin Ellis.
In past years the prizes at these
outings have been most elaborate
Last year an automobile was giver
away at the end of the mock STOCK
exchange session This year the
most expensive prize was to have
been United States War savings
bonds
Railway Common Dividend Cut.
Directors of the Washington
Railway g. Electric Co. have re-
duced the regular quarterly divi-
dend on the common stock from
$40 to SO per share, it was an
nounced today.
. The 50 dividend will be paid or
I May 90 to stockholders of record or
May Is. The action is in line with
! that taken recently by many other
corporations.
Directors of Woodward & Lothrop
Washington department store, have
declared the quarterly dividend Of
so cents per share on the common
stock. payable June q to stock o.
record June 16, and the regular
quarterly dividend of SITS per share
on the preferred stock, also payable
June q to holders Of record June 10
The Mergenthaler Linotype regu
lar quarterly dividend of 81 per shar'
will be distributed on June rs Il
stock of record June l.
The Chesapeake & Ohio RailWa!
will pay the usual rs cent quarterly
dividend on the common July l II
stockholders of record June 8. The
preferred "A" dividend of 81 share
will be paid at the same time.
Bank Employees Buy War Bonds.
Every officer and regular employe
Of the Bank of Commerce & Savings
has adopted payroll deduction plar
for the purchase of United States
War savings bonds, President
Thomas j. Groom announced today
: Mr.. Groom added that tota
monthly purchases are now in ex-
cess of 10 per cent of the bank:
payroll, the 10 per cent feature being
in line with the request of Secretary
Morgenthau that every citizen If
the United States apply that amount
of his earnings to the purchase
of War savings bonds and stamps.
So far as anne need. this is the
first bank in Washington to report
100 per cent cooperation in the
buying of War bonds.
New Agency Manager Named.
Fred c.. Holderman has been ap'
pointed manager of the Washington
agency of the Equitable Life AS
surance Society, succeeding R. F
E. Wiedeman, who has been trans
ferred back to California to become
head of the San Francisco agency
President Thomas I. Parkinson an
nounced today.
Mr.. Holderman became Identified
with the Equitable 10 years ago a
an agent in Kansas City. A yea
later he was appointed district man
ager and has continued in tina
capacity for the past eight years
Mr.. Holderman is a graduate o
Kansas University, where h
maiored in economics and bushes
administration. Following his grad
uation, he taught high school TO
two years.
First Quarter Loans Lower.
Details from the Commerce De
partment's first quarter report OF
loans disclose that from January t.
the end of March combined LOAF
outstandings of personal flnanc
companies, industrial bank ant
credit unions fell off from sl,046,
100000 to s998,600,000, a decline o
almost S per cent.
Personal finance companies, will
consumer installment loan outstand
ings of. S525,600,000 at the end o
March, showed an increase in bal
ances for the first time in thre
months as outstandings increase
100000.
Industrial banking company loal
receivables fell off $4,000 durin
March to a total of 1921 500 900 a
the end of the month.
Transit Again Sells at 20.
Capital Transit stock sold at y
on the Washington Stock Exchang
again today on very small turn
over.
The bid for Washington Railwa.
& Electric common stock droppe'
from s47O a share to $3.50 today fol
lowing the cut in the dividend from
to . zl.ara Tho ockpH nrir