Evening star., 1942-06-11

Mr.. Sanderson
has been an in W. L. Sanderson.
stitute member 20 years. graduated
from the local chapter II year:
ago and is also an alumnus of the
Graduate School of Banking. He
was president of the chapter ir
l934-35 and has served II success
sive years on the Educational Com
mittee.
During the past two years has
been vice chairman of the National
Public Relations Committee and al
present is associate councilman fol
Maryland and the District of Co.
lumbia. He has served on the Ma
tional Forum Committee and has
been a delegate to seven national
conventions, and is exceptionally
familiar with the problems facing
the national organization.
While elected on his service rec
ord. chapter associates did brilliant
work in securing the necessary sup
port of other chapters.
Metropolitan Promotes Dent.
Edward A. Dent. jr, son Of District
Assessor Edward A. Dent, has been
appointed an assistant trust officer
of the National Metropolitan Bank,
according to announcement by Presi-
dent C. F. Jacobsen.
A native of Washington, he has
been associated with the National
Metropolitan since 1910 and prior to
that year was employed in various
departments of the District govern
ment.
He is 81 years old. attended West
ern High School and Columbus Uni
versity law school. He was ad-
mitted to the bar of the District
Court of Appeals and the United
States Court of Appeals in 1888.
Bank Votes Two Dividends.
Directors of the Bank of Com
merce & Savings have declared the
regular quarterly dividend of $3.50
per share and special dividend OF
$3.50 a share, President Thomas j.
Groom announced today. Both dlvl-
dends are payable June 80 to stock
holders of record June 20.
The Washington Stock Exchange
has received application for the list
ing of 18,2O6 shares of the new S.
cumulative preferred stock which
was recently sold to the public. 1t IS
anticipated that trading in this
issue will start in about two weeks.
Washington Gas common and the
$3.50 preferred have been listed on
the exchange for many years, along
with the companys 5 per cent bonds.
Utility Stocks Compared.
The drop in Washington Gas
Light common stock from 29l2 to IS
during a period of many months
makes comparisons with other utll-
ity stocks interesting.
During the past year and half,
Consolidated Gas, Electric Light &
Power of Baltimore has tumbled
from 10 to 40 Consolidated Edison
of New York has gone from 80 to II.
Public Service of New Jersey has
broken from 30 to 10; Common
wealth Edison, Chicago, 33 to 18.
All these stocks worked lower as
the whole market declined, utility
stocks at times being especially
weak.
The decline In Washington Gas
was not as severe as in some of the
other issues. Recently all these
stocks have displayed more strength
as the whole market has improved.
Labor Situation Critical.
The Federal Reserve Bank says
of the employment situation in this
district:
The outstanding feature in the
labor situation in the Fifth District
is the scarcity of workers on farms
Industrial labor is fully employed,
and the same may be said for con-
struction workers. In the ranks
of the white collar people, there
is less unemployment because of
the filling of vacancies left by work.
ers entering the Army or Navy.
The situation in rural sections is
quite critical, large numbers of
country people having secured work
on construction projects or in plants
doing defense work. Fruits and
vegetables have to be handled quick
ly when they are ready for market
and there have already been in
stances in the district in which in
ability to secure workers to harvest
certain vegetables caused serious
losses to the growers.
Nine D. c. Bankers Enrolled.
Nine Washington bankers will
leave here soon to attend the Gradu-
ate School of Banking at Rutgers
University. New Brunswick. N. J..
for two weeks special work. The list
includes:
Robert Van Order Mellefont, Riggs
National; Joseph R. Fitzpatrick
Second National; George o
Schweinhaut. Washington Loan &
Trust; Thomas j. Norris, Bank OF
Commerce & Savings; Colin Mac
Lehman, R. G.. Rankin & Co.; Ed
win B. Shaw, Riggs National; Frank
M. Perley, American Security &,
Trust; Francis E. Robey, Bank Of
Commerce & Savings; William j
Ricciardi, Hamilton National.
Exchange Prices Strong.
Sixty shares of Capital TRANSIT
stock sold at 20s4 on the Washing
ton Stock Exchange today. ex divi'
dend, and up fractionally from
recent levels.
Capital Traction IS registered
$1,000 transfer at 1855. fractionally
higher than most recent sales. Rea
Estate Mortgage & Guaranty pre-
ferred appeared on the board in 40
sale at 7s4.
Garfinckel common and preferred
American Telephone. Capital Tran
sit and National Mortgage & Invest.
ment preferred have been added tt
the list of stocks now being quotec
ex dividend.
Two officers of the Morris Plan
Bankers Association have joined
the colors. Robert R. Spooner, as
sistant secretary, received his COM
mission as a first lieutenant in the
Air Corps on June 3 and is now
training in Florida. Calvin c. Vane
assistant treasurer, was inducteo
June 4.