Evening star., 1942-03-10
Directors Renamed
At AtCapita| Transit
Annual Meeting
Boud Reflects Hanna,
Merrill and Other
Officers of Firm
Nv EDWARD STONE.

By EDWARD c. STONE.
: Stockholders of the Capital Tran
At Co. today reelected these direc
tors at the annual meeting: j, +
Hanna, r. w. Doolittle, G. Thoma
bunlop, Robert v. Fleming, Edwll
E. Graham, William F. Nam. Georg
4 Hamilton, William Mcclellan. Ed
GARD D. Merrill, Lennard N. Mitchell
klfred G. Neal, George l.. Nicolson
,fnhn M. Perry, S. Percy Thompson
Merle Thorpe. .,
T The director reelected John II
Hanna chairman of the board; Ed
Vard D. Merrill. president and gen
aral manager; George E. Hamilton
1hairman of the Executive Commit
ke and general counsel; William b
bennett, formerly secretary OF th'
dompanv. was elected vice presiden
And secretary; J. E. Heberle. Vlcs
president and controller; j. d
$tephens, vice president; H. D
Erampton. treasurer; John Fleming
Assistant secretary; c. B. Koontz
Assistant treasurer. and William L
6Iarke assistant secretary and rs
distant treasurer.
I other department heads nov
deriving we're appointed as follows
I z. Emmons, formerly assistant U
he general manager, appolntee
TRANSFORMATION manager: H. n. Dai'
aleish, chief engineer; Dean )
Locke, staff engineer; r. T. Powell
manager of claim department: Johr
fleming, purchasing agent; Rooer'
houean and C. Melvin Sharpe, ex'
scutive assistants: E. F. Goucher
9neineer Of way and structures Z
1. Boyd. superintendent OF trans
nortation; Alexander Shapiro, dl'
hector of personnel; R. D. Vosnal
Assistant to chief engineer; D. B
Wills. special representative.
Bank Loans Up Sharply.
Loans to industry and agriculture
made by Al reporting banks in the
nth Reserve district amounted 10
slss .734 900 on February II. this
year. against a total OF sl37 '2so'ooo
on the corresponding date year
ago. an impressive gain OF s3l ,436,-
900. This was also a sharp increase
of 1881 900 from the total OF sloS,-
4s3, 900 of January IA, 1912.
All other loans, according to the
Richmond Reserve Banks monthly
review, totaled sl7o,543,000, on Feb
ruarv II. an increase of sl3062 900
over the comparable date a year ago.
The report presents definite figures
on the many recent assertions that
the banks in this territory were
steadily increasing their loans, and
taking a more and more active part
in aiding war ACTIVITIES.
Demand deposits in the banks In
this area are still mounting, the re-
port reveals. On February II OF this
year these banks carried s7S2 .502,-
900 in demand deposits, a huge in
crease Of sl2e,86O,0OO on the same
date a year ago. Time deposits de-
elined.
Rejecting great business activity
In Washington, debts to individual
accounts tssa4ed $425, ,s29 900 In jan
uary, a gain of 20 per cent over the
same month last year.
While the sale Of new automobiles
was stopped after January l, a
number Of new cars were officially
registered in Washington and the
rest Of the fifth district in that
month. According to the r. L. Polk
figures registrations in the Capital
totaled 384 new cars, a drop OF 81
per cent from 2,ll3 new cars sold in
January. 1941.
In the fifth district, sits new
cars were registered in January, a
tumble Of "A per cent from last
year. Maryland registered l.249, of
10 per cent. and Virginia 1902, down
50 per cent. Sales of good used cars
were heavy, the review adds. while
tire dealers handling retreads sold
out their stocks and were swamped
with orders. The February restric-
tons made the public far more con-
scious Of the real tire situation.
Capital Leads in Permits.
Estimated valuation of building
permits issued in % fifth district
cities in January was only $685.
93l. against more than sl2,000,000 a
wear ago. permits being held down
by the difficulty of obtaining build
ing materials for private construc-
ton work. Washington led all other
cities, with permits totaling s2,694,-
6o5
Contract awards totaled $50 030.-
600 in the fifth district in January
this year, against 2.567 900 a year
ago, a jump OF % per cent. Resi-
dental contracts were off IS per
cent from January, 194l, the review
says
The employment problem is some
what confused. Industry is taking
on all workers obtainable, while
automobile and tire statesmen are
being fitted into other work as rap
idly as possible.
From December to January the
number on Washington payrolls
dropped 1873 per cent and the
amount of payrolls 9.3 per cent. In
the fifth district the number was
down 25 per cent and the amount
of payrolls l per cent.
The review notes tremendous in
dustrial activity all over the district,
shipbuilding, airplane and textile
operations holding the lead. with
day and night shifts the common
rule. Small industries are getting
q great deal more war work and
producing large quantities of goods,
the survey concludes.
Schram Urges Bond Purchases.
For only the second time in $50
years the New York Stock Exchange,
through It's president, Emil Schram,
yesterday recommended the pur-
chase of a particular security
United States Defense savings bonds.
Mr.. Schram recommended the
purchase of Defense savings bonds
as investments in national security
today and in personal security for
tomorrow
The only other time in the last
$50 years that the stock exchange
has recommended the purchase OF
As-At1 t,,