Evening star., 1942-04-26
Acacia Rendmes
Montgemeryfor
49th Term
Brig. Gen. Frank Hines
Added 10 Boord of
Insurance Firm
~ FnWARn e. STONE.


election Of Brig Gen. Frank ]
Hines. administrator Of the Unite
States Veterans Administration, :
the Board Of Directors, was an
nounced last night
Mr.. Monteomery thus begins hi
4eth year as directing head o
Acacia. a record unparalleled In If
insurance annals. When Mr.. Mont
eomery became associated with IN
concern in 1893. he was its sole EN-
plove and II was a small local in
Eurance society with single off1c'
over a hat store in downtown Wash
ington. Today Acacia stands In tn
front rank Of American life insur'
ance companies.
The newly elected member of tht
board. Gen. Hines. has been hea'
OF the Veterans Administra tioi
since 1923. Appointed BY President
Harding. he has been reappointec
20 his post of high responsibility
by each succeeding President, higf
tribute Gen. Hines saw active serv-
ice in the Spanish American War
In the Philippines. and In the World
War, and has expert knowledge OF
insurance.
Other Officers Also Named.
Other officers were reelected as
follows: Howard w Kacy, first vice
president; Lloyd K. Crippen, vice
president and actuary; Samuel T.
Mooers, field vice president; Robert
3. Montgomery, vice president;
Donald r. Roberts, vice president;
J. B. Powers. secretary: c. Bayne
Marbury. treasurer: Ralph z. Heit-
muller, general controller; DR.. j. r
3. Hutchinson, medical director; DR.
John B. Nichols, advisory medical
director
Reelection of six members Of the
Acacia board was announced. They
are Paul B. Cromelin, J. Claude
KEEPER, Arthur D. Marks, Marcy l.,
Sperry, Frank J. Stryker and Lloyd
p. Wilson. Other members OF the
board are Harry Blake, James E
Collifiower, c. c. Coombs. j. Harry
Cunningham, E. c. Graham, Joseph
H. Hines, Homer A. Holt, Thomas
z. farrell, Howard w. Kacy, DR.
Cloyd Heck Marvin, j T. Meany
Joseph H. Milans, william Mont
goHery, s. z. Mooers, z. J. Murphy
DR.. j. B. Nichols, L. P. Steuart and
Roger Whiteford.
Reappointment of the following
officers was announced by President
Montgomery: L. M. Suit, branch
auditor; Otto Hammerlund, chief
agency accountant; c. B. Hurd,
counsel, investment department; E,
NJ. Thore. counsel, insurance de-
partment; A. B. Amber, Jr., assist
ant actuary; F. J. Halliday, assist
ant actuary; K. S. Carper, assistant
controller; T. D. Cochran, B. M.
Langhenry, L. o. Nashem. assist
ants to field vice president; DR.. c.
NJ. Beall, assistant medical director;
George Link, assistant secretary:
c. G. Montgomery. assistant treas
urer; Edward Duhey, assistant
treasurer.
Capital Transit Net Lower.
Due to an adjustment in taxes,
net income of the Capital Transit
Co. in March dropped TO ST. ,lo27l,
decrease of 0,467 so from last
year, or 224 per cent, according to
the report filed yesterday with the
Public Utilities Commission. Taxes
totaled 1856, ,432, compared with
Sll4,033 a year ago, up ALT per
cent.
Transit officials explained that a
large part of the increase in taxes
was due 10 increased provisions for
income taxes in the first three
months of 1912. Accrual for the
first three months Of l94l was less
than the amount ultimately paid for
that period, the adjustment being
made later in the year.
Operating revenues in March to-
tailed Sl,7SS 07444, a gain over last
year of S54l ,53205 or 43 per cent
Operating expenses, taxes and de-
probation Of 81 ,657 ,628.l3 were S56l.-
2ee97 higher. or 81 per cent over
March. l94l. Deductions for bond
interest were practically the same
as last year. The number Of reve-
nue. passengers was 25,6l7,22l, q
sharp upturn Of 7,8l3,562, or 434
per cent
Capital Transit made a fine show
Ing in the first quarter, net income
reaching s3i7,43e2 %. an increase oi
So. .S72o3, or 42.3 per cent. Revenue
passengers numbered 7l587,54e. a
spectacular gain of 20 .599 SS7. or 40
per cent, the report disclosed. Op-
Grating revenues were up 40 per cent
and expenses 43 per cent.
Utility Bonds in Demand.
Bonds jumped into the limelight
on the Washington Stock Exchange
yesterday. The market opened with
$500 transfer in Washington Gas
Light IS. 1850. at 1874 of ? points
from the last previous sale
This transaction was followed by
$4,000 sale st 125. one Of the
largest bond transfers of the year
Washington Railway & Electric Is
then appeared on the board for the
first time IN 1912, q $4,000 being
registered at 109.
The sudden demand for bond.
followed weeks sessions in which
the market was very slow and price
changes moderate.
Financial District Comment
The District OF Columbia Build.
ing and Loan League will hold IT
monthly luncheon meeting at tht
Raleigh Hotel Thursday noon. Sec
retary F. Wilson Camp announces
Plans for the annual outing al thr
Washington Golf and Country Clul
viii be outlined hv Martin A. Cook
chairman of the Entertainment
Committee,
District Of Columbia Control O
the Controllers Institute Of Americ'
VIII hold its monthly meeting Tues
day al the Carlton Hotel, beginning
with dinner at $50. Guest speake
viii be Ralph w. Lee. II. who's
topic will be --latest DEVELOPMENT
on Insurance Relative to War an
Bombardment Coverage" q +
Ritenour viii preside.