Evening star., 1943-05-05


NOTED to take Mr.. Johnson's place
as secretary. Both officials have
been connected with the company
more than Is years.
Aside from the three advance
ments, no other changes were made
in the official staff. William D.
Hoover is chairman of the board:
Fred Ophuls and William H. Han
nay, vice presidents; Robert D.
Marshall, controller, and Morris w.
Bennett, treasurer
The company's stock is listed on
the Washington Stock Exchange, at
present carrying bid of $50 share
with $50 asked. 1t pays 50 year.
Industrial Bank Tops List.
The Industrial Bank of Washing
ton. Eleventh and U streets NV. is
the largest Negro-owned and oper-
ated bank in the United States. ac-
cording to report just made by
the Department of Commerce.
The Commerce Departments
third annual report on banking in
stitutions owned and operated by
iNCSlOCS SlloWo tkldU OLA Vi CllCSC
institutions have resources in ex-
cess of 100000 and two in excess
of $2,0O0.OOO.
The Industrial Bank of Wash
ington. it was learned today, had
deposits of $2,3l6,0O0 on May l,
and resources of $2,4680 900. officials
point with pride to the record of the
past eight years, the bank having
opened on August 20, 1884, with
resources of only sl65, 900.
The bank has $4,000 capital
stock and has built up the surplus
to equal that amount. Industrial
has also made an outstanding
record in the sale of War bonds to
patrons.
At the end of the last year. the
banks covered in the Commerce re-
port had total resources of SILL
041 ,974 a gain from 1889 of 1884,
974 or 10 per cent.
Loan Association 81 Today.
The Washington Permanent
Building Association is celebrating
its 62d anniversary. present assets
VI 541,JUJ0OO 1CllCCIlllS q SlOSCdIl-
tial gain the past year. The latest
statement shows more than 100000
in Government securities and sur
plus of s1.065 900.
Carl j. Bergman is president of
Washington Permanent, with Her
mann H. Bergman, vice president:
Urban M. Donnelly, treasurer, and
Julius A. Maedel, secretary.
Directors are John H. Clipper C.
Rammling, James R. Ellis, Walter
B. Avery, Clyde H. Miller, Max
Walten, Joseph N. Saunders and
William L. Moore.
Mccormick C. Of c. Director.
Charles P Mccormick. president
of Mccormick & Co., Baltimore, was
reelected director of the United
States Chamber of Commerce at
the 31st annual meeting, recently
held in New York.
Mr. Mccormick represents the
third election district of the Ma
tional Chamber, which includes
Maryland, Virginia, West Virginia,
North Carolina. South Carolina and
Vic D1oGl lCO VI SOluIllUId.
He was actively sponsored by the
Baltimore Association of Commerce
and 40 other organizations in this
area
ID. c. Men On FILA Committee.
S. S. Symons. secretary of the
Northeast Building Association, and
Carl j. Bergman, president. Wash
ington Permanent Building Associa-
ton, have been appointed members
of the United States Savings e. Loan
Leagues Committee on Federal
Housing Administration Matters, it
was announced from Chicago today
The committee will deal largely with
war housing, for which the associa-
tions are now loaning about $10,-
0000 month, the announcement
said.
The committee will study the i'm
pact of the present FILA program on
the building and loan business and
recommend policies the associations
should pursue. Because of the extra
risk in war housing. the commit
tees work is considered particularly
important by league members.
Record Since 1929 Boom.
Washington brokers said today
they believed the turnover of 176 900
shares Of United Corp. common on
the New York Stock Exchange yes
terday was the heaviest trading in
any single issue in one day since the
boom days of 1929.
The stock led the 10 most active
issues in the list by large margin,
Commonwealth & Southern coming
second and Columbia Gas e. Electric,
third. The session saw 222 new 1943
high marks.