Evening star., 1942-09-18

II beTkSIluc
Life, was advanced to Mr.. Hatzes'
office of first vice president, and Paul
w. Hammack, with the Prudential
Insurance Co. of America, replaces
Mr.. Suter as second vice president.
Elected to vacancies on the Board
of Directors caused by designations
of men now in the services were
three underwriters who have figured
prominently in association activities
for many years, Paul Primm OF the
Mutual Life Insurance Co OF New
York a former president of the local
association; Vernon w. Holleman,
general agent of the Home Life In
surance Co. of New York, and Earle
w. Sapp, general agent of the New
England Mutual Life.
Two important committee appoint
ments were announced. Joseph A.
Marr, a former association president
and general agent of the Penn
Mutual, has been appointed national
committeeman to represent the local
organization at all meetings of the
National Association of Life Under
writers.
Mr.. Marr's co-general agent,
Thomas P. Crowley, heads COM
mittee to conduct a health drive
sponsored nationally by the Institute
OF Life Insurance, Inc, in co-opera-
ton with the Federal Government.
Realty Bonds Up Sharply.
During August real estate bonds
scored the sharpest advances in the
last six months, an average in
crease of 1.6 per cent, according to
the Amott-Baker review of 200 is
sues received here today. On Au-
gust 81 The average price per 81 900
bond stood at 1914, compared with
5000 at the end of July and 1902
on January l.
National Press Building first 3-5s
led the Washington issues in this
list with an August gain of 11a
points. The bonds ended the month
with a bid of 8812, which has since
moved up to 80 with 90 asked. Ma
tional Press 412s recorded no change,
ending the month with 38la bid,
against the present bid of 38a4
with AZ asked.
Mayflower Hotel first SIS ended
August at 1874, off half a point
during the month. These very
high-prlced bonds are now being
quoted at 137 bid and 141R asked,
while Mayf1ower Hotel IS, without
stock attached, are quoted at 981z
offered at 1919.
Other Washington bonds, sold
over the counter, include City Club
first IS, with At bid; Consolidated
Title IS, 100 bid; D. C. Paper Mills
IS, 16 lid; Racquet first IS, 521a;
Washington Auditorium 6s, 84la
and Washington Properties Is, 85la
The Amott- Baker review states
that all classifcations of realty
bonds advanced in August, hotel
| issues making the best showing.
Perpetual Holds U. S. Record.
The Perpetual Building Associa-
| ton of Washington, with resources
of $55 1863, GOT, continues to maintain
its leadership as the largest home
building institution in the United
States, according to report re-
leased today by H. F. Cellarius, sec
retary- treasurer of the United States
Savings and Loan League. In Sec
ond place, nearly $20,000,000 behind
is the Railroad Federal Savings and
Loan Association of New York with
assets of $35, $50 ,693.
Mr.. Cellarius said that more than
half of the building and loan asso-
Citations of the Nation reflected net
gains during the first six months
that the Nation was at war. Thir-
teen Washington associations were
reported to have resources of SIS ,000,-
900 and over.
Next in rank to Perpetual in
Washington is the American Build
ing with resources of SIS 5,240, ,053,
with National Permanent third with
$12,170,097 Others are:
First Federal Savings & Loan,
$11,411,954; Washington Permanent,
$11 1,216,223; Equitable Cooperative,
$S,729,158; Oriental, $7,252 ,258; Co
lumbia Federal Savings & Loan. ST.
082, ,683; Metropolis, $7,O06,86O; Nor
thern Liberty, $6,030,612; Northwest
ern Federal, $5,892792; Eastern
Building g. Loan, $5,424,757, and
Interstate, S5,050,499.
u. S. Bond Purchases Urged.
Wmslow B. Van Devanter, chair
man of the. Victory Fund Commit
tee for the District of Columbia
said today there are four important
reasons for the buying of United
States Government securities.
Such purchases help finance the
war successfully without unusual
economic disturbance; they are a
safe investment; help avoid inf1a-
ton and have great thrift value
against a possible rainy day."
His committee is working espe-
cially nard to press the sale OF
Treasury bills, tax savings notes
certificates of Indebtedness ano
other similar issues.
Montgomery Joins Exchange.
Thomas C. Montgomery, who has
Just become associated with Ferris
Exnicios e. Co., Washington invest
ment firm, was elected member OF
the Washington Stock Exchange to-
Ody NY lLlC u VI NOFClllOlo.
Mr.. Montgomery has been active
in the financial district for about 2s
years, % of which were with Wag-
gaman, BraWner & Co. He is q
graduate of the Harvard Law Schoo
and former president of the Bono
Club of Washington; also saw over
seas duty in the First World War.
Capital Traction in Demand.
Capital Traction stock was ir
lively demand on the Washington
Exchange today, 20, As and SIS share
lots changing hands at 2312, ex-divi-
dend and unchanged.
Potomac Electric Power 5l2 pei
cent preferred also appeared on the
board, selling at ia.
Storage Dividend Declared.
Directors of the Security Storage
Co. have declared dividend O.