Evening star., 1943-09-20
D. {. Realty Issues
Prominent in Sharp
August Advance
BY EDWARD c, STONE.

Three Washington real estate
bonds were among the issues in the
AmottBaker price averages for
August which scored good-sized
advances. National Press Building
AIS gained full points, ending the
month with bid of Sc. Washing
ton Properties Is climbed II, points,
closing with bid of 81, while May
flower Hotel 5s moved up point,
the final bid standing at las. Ma
tional Press Buildings 3-5s we're
strong during the month, selling
around 96.
The Washington issues made
better showing than many others
in the Amott-Baker list The aver
age advance for the 200 issues was
l per cent. making the year-to-date
gain 1872 per cent. The increase in
the value of these securities so far
in 1943 exceeds all previous years
since 1885, the latest survey states.
Hotel issues made the best record
during the month. The largest gain
by any individual bond was in
Berkeley -Carteret Hotel (Asbury
Park 512s, which jumped 8 points,
the review disclosed.
d. c. Insurance Sales Soar.
Life insurance sales in Washing
ton in August scored very sharp
gain over the like month last year,
according to the Sales Research Bu-
reau at Hartford
A,,r co1oc +Nfo
against only $4,269,000 in the same
month last year, a jump of 80 per
cent. The gain for the whole Nation
was IS per cent.
Sales in Maryland were UP AZ per
cent, in Virginia 38 per cent and in
West Virginia 81 per cent. Heavy
declines in sales in the first two
months of this year have been wiped
out.
New business in the Capital is
now l per cent ahead of last year,
sales in the first eight months of
l943 totaling S42 900, the report
said
Robey in Banking 25 Years.
Francis E. Robey, cashier of the
bu1ih vi S OofiltsSv tldS
just completed 25 years in banking
and in point of service he is the old
est member of the operating staff.
On September II, 1918, he started in
as messenger, being so young that
he still wore short trousers. In fact,
he purchased his first long trousers
when he applied for the job.
He advanced steadily through all
departments of the bank until he
was elected cashier on Sept. IL. 1910.
Mr.. Robey is former president of
Washington Chapter, American In
stitute of Banking, an Institute
graduate, and also holds a diploma
from the Graduate School of Bank
ing at Rutgers University.
Appleby on American Board.
Directors of the American Co,
real estate firm, have elected Paul
A. Appleby a member OF the board.
Mr.. Appleby is president of the Sea-
board Finance Corp, with head
quarters in Washington; also a di-
rector of the Hamilton National
Bank. the National Funding Corp
of California and a number of other
corporations.
Corp. have declared the regular
qusrerly dividend of so cents per
share on the preferred stock, pay |
able September 80 to stock of record |
September %; also a dividend of |
10 cents share on the common
stock, payable on the same date to
stockholders of record on Septem- |
ber %.
Today's Trading on Exchange.
Capital Transit sold ex-dividend
at 30l2 on the Washington Stock
Exchange today. Washington Gas
Light issues also were strong, the
$3.50 preferred moving at 1867 and
the common at 22l..
The New York Stock Exchange
has suspended from further dealings
the North American Co. 81 per
cent debentures, due 1e49, and the
3A per cent debentures, due 1854.
Both issues have been called for re-
demption. The two issues aggregate
s34, 100000. The company will save
S534,495 in yearly interest. Funds |
for the redemption will be obtained
from bank loans now being nego-
tiated. /
D. j. Needham of Washington, /
general counsel of the American
Bankers Association, will be one of !
the chief speakers at an ABA mid i
continent trust conference in Chi |
cago in October on Washington
Developments That Affect the Trust