Evening star., 1943-08-04
HeitmuIIer Names
Committees for
D.C.C Controllers
BY EDWARD c. STONE.

Ralph E. Heltmuller, president
District of Columbia Control of thu
Controllers Institute Of America, to,
day announced the following com.
mittee appointments for 1894:
Program. J. Van Herpe, head
fuel section. accounting division
Office of Price Administration
chairman: r. D. Marshall, control.
Ter. Terminal Refrigerating & Ware.
housing Corp; Reynold A. Lee, con-
troller, Julius Garf1nckel & Co.
Publicity-F. Charles Brown, audi,
tor, National Geographic Society
chairman; Henry A Herzog. con.
trelier, George Washington Univer-
sity.
Membership-O. H. Ritenour, con-
troller, Washington Gas Light Co.
chairman: Harold G. Hayden. con-
troller. Potomac Electric Power Co.;
William r. Little, auditor, Evening
Star Newspaper Co; Humphrey
Lloyd, vice president, Washington
Properties, Inc: Raymond G. Marx
controller, Riggs National Bank.
Tax-Franklin H. Kenworthy, vice
president and general auditor, Ches-
apeake a. Potomac Telephone Co.
chairman: J. E. Heberle. vice presi-
dent and controller, Capital Transit
Co.
Half Year Rail Nets Climb
Glass I railroads in the Southern
Region in the six months of this
year had an estimated net income,
after interest and rentals of $780,
900 compared with $5E $685. ,684 in the
same period last year.
Net railway operating income, be-
fore interest and rentals, was SILL
565,674 compared with $91 ,066,662 in
the same 1912 period.
Operating revenues totaled S64e,-
e72,103, an increase of 1913 per cent
over the same 1912 period while
operating expenses totaled $751;
S74,267 an increase of 24.5 per cent.
In June alone, the roads had an
estimated net income of $11, 100000,
compared with Sl2,511.938 in June,
1912.
Virginia Bank Assets
Assets of 1876 State banks of Vir-
ginia on June 80 were $506,279,5 SGT,
the Bureau of Banking reports. Total
deposits are $46l, ,91l,235 and the
banks held U. S. Government Sc
curities of S195,314,467, cash of SAB
S14,419, and loans and discounts
of s128,316,082.
Beecher E. Stollard, candidate for
reelection to the Virginia House
of Delegates, says he plans, if re-
turned to Office, to sponsor legisla-
ton to establish a separate State
Department of Banking.
The Banking Division is now un-
der the State Corporation Commits
sion. He says the change would
cost the State but little. In eases
of bank failures. he would have the
State Commissioner of Banking act
as receiver without additional COM
pensation.
Bank Prints News Bulletin.
Employees of the Second National
Bank have started their own news
paper, Mrs. Dorothy Lanham being
editor in chief, assisted by Lorrie
Tompas, Kay Shepard, Tudor
Whiton, Harry Cheneweth, Mary
Absher. Rosa Jacobs, Sylvia Kary-
dakis, William Hayes and Emma
Lane. - -xsa
The first issue is filled with news
about the bank, officers, directors.
employees in the service and some
very interesting facts about ration
coupon banking.
The Second National now has 277
OF these accounts, dealing with
sugar, coffee, processed foods, meats,
gasoline and shoes. In the second
quarter 1920 deposits were made.
involving 1878 items, while 30.921
checks were drawn on ration ac-
counts. The system works most
satisfactorily.
North American Plan Out.
As noted elsewhere in today's Star,
the North American Co. is submit
ting to the Securities and Exchange
Commission a plan for breaking up
the system under the Holding Com
pany Act death sentence"
Under the plan there would be
four regional holdings companies,
one of which would hold common
stock of the Washington Railway &
Electric Co. and part of the common
stock of the Pacific Gas & Elec-
trio Co.
Washington holders of North
American securities were studying
the plan with deep interest today.
Woodward Common Stock Up.
Woodward g. Lothrop common
stock figured IN a 50-share sale on
the Washington Stock Exchange to-
day, at 81 up three full points. The
flnal bid was 81 with 39 asked.
The stock, quiet on the board so
far this year, has come into the
limelight through the sale of 275oO
shares TO the public at STATS a
share. This stock. placed on the
market yesterday, was heavily over
subscribed, dealers saying today that
they could have sold double the
amount they had on hand.
Practically all the stock was taken
by Washington investors, it was re-
ported by the eight firms offering it.
Washington Gas $3.50 preferred
sold at 1922 and 85 shares of Cap
ital Transit at 80 in today's market.
Raymond G. Marx, controller Of
the Riggs National Bank, is passing
his vacation in New Hampshire. at
Lake Winnipesaukee. Several Of
ficials from New York and Boston
banks are at the same resort.
George M. Mckee, trust officer of
the Riggs National Bank. is also
taking his vacation, remaining in
the vicinity of Washington.
The North American Co. has
voted another dividend on common
stock payable in stock of the Pacific
Gas & Electric Co.