Evening star., 1943-06-11
New Life Insurance
Officers Installed;
13Members Honored
O'DonneIl Takes Helm
At June Luncheon
In Willard Hotel
By EDWARD c. STONE.

the June luncheon yesterday at the
Willard Hotel, succeeding George A
Hates. Paul w. Hammack became
first vice president; J. Donald Suth.
erland, second vice president, ane
Leon Katz, secretary
Thirteen members of the associa
tion were awarded certificates OF
merit for outstanding service during
the past year, the list including
Arthur c Pearson, T. Loehl O'Brien
Fred G. Holderman, jr.. William J
McCausland. William B. Rumple
Hiram S. Hart. Leroy J. Myers
Charles F. Suter. Charles w. O'Don-
nell, Vernon w. Holleman. Ray
mond A. DuFour, Lawrence C
Crawford and Ross Gleason.
Heads of associated activities fol
the coming year were presented, in
Cluding Thomas R. Crowley. chair.
man, managers section, and Clar.
ance H Carr, secretary; Leopold v
Freudberg, vice president, Life Trust
Council, and John L. McElfresh
secretary, Roger L. Baldwin. preSi-
dent Chartered Life Underwriters
Chapter. and George L. Haines, sec
retary; Earle w. Sapp, chairman
Life Insurance Institute. and T
Loehl O'Brien, dean.
The retiring president. Mr. Hates
was presented a handsome desk set
and certificate of merit from the
national association. Mr.. ODonnel
got a similar national certificate
The honor paid the other members
was for enlar9ing membership, pro-
gram planning, pressing the sale OF
War bonds, obtaining an exception
ally large number of blood donors
to the Red Cross and for the treas
urer's fine financial results.
Potomac Power Sales Mount.
Sales of the Potomac Electric
Power Co. in the District of Colum-
bia in May ran l448 per cent ahead
Of the same month year ago, total
ing 102 633 705 kiloWatt- hours. an
increase of 1898 938, company Off
cials announced today.
Railroads and railways used H.
306,958 XIV h.. an increase of 1902
7l6 XVIII. and ll90 per cent more
than last year. Street and highway
lighting sales were up 843 per cent.
Other sales reached S9.5ll 27l
XVIII. aSharp gain Of l2983 .938 or
l448 per cent, the report revealed.
Fifth District Indexes Mixed.
The Federal Reserve Bank of
Richmond's monthly review shows
mixed trends in April business con-
ditions. Bank debts we're up %
per cent over April a year, and l6
per cent in the first four months of
this year.
Department store sales were 16
per cent ahead of last year, life in
surance sales 80 per cent, and
wholesale trade in five leading lines
% per cent better than year ago
Building contracts awarded in
April were SO per cent lower than
in April 1912 and building permits
issued we're down 65 per cent from
the same month last year. There
we're no commercial failures in the
Fifth District in April compared
with l9 year ago and only 10 fail
ures in the first four months of this
year against l26 in the like 1912
period
Total loans reported by al mem
her banks on May l3 were 81 per
cent lower than on the same 1912
date. Demand deposits were up 81
per cent, and total time deposits
9 per cent
The report states that retail fur
niture sales in Washington in April
were off 81 per cent from April,
1912 and down II per cent in the
four months.
President Once Bank Runner.
A. Scott Offutt, new president of
the District Bankers Association, is
one of the youngest financiers to
be elected TO that office. He is AZ
years old, started his career as a
runner and is now vice president of
the City Bank. Born on a farm near
Garrett Park. Nd, part of which is
now the sight of the Georgetown
Preparatory School, he received his
ENutdSoli III lilN DlNC SJdlt.
His position as messenger was
with the old Continental Trust Co.
where he stayed for two years. be-
Ing advanced through the transit
department to receiving teller In
1919 he entered the National Capt.
tai Bank as receiving teller and two
years later went to the City Bank
where he was first elected assistant
cashier, later manager of branches
and in 1881 was made a vice presi-
dent and placed on the board of
directors.
Mr.. Offutt, who succeeds John A
Reilly, has rarely missed a meeting
of the bankers luncheon group in
IL years At these meetings some
of the most important banking
problems are considered. The new
association head is Mason, men,
Der of the Sons of the American
Revolution Woodmen of the World
Washington Board of Trade. Ameri-
can Institute of Banking, and the
Columbia Country Club.
Harrell Speaks on Earnings.
LinWood P. Harrell. executive vice
president of the Morris Plan Bank
OF Washington. addressed a confer
ence of Atlantic and New England
Morris Plan Banks in New York
today on Bank Earnings Under
Present Conditions"
Over 40 building and loan Off
GERS and emplOVeS made IN oro,lr
arranged by Martin A. Cook of the
Enterprise Building Association, TO,
blood donations and passed through
the Blood Donor Center yesterday
Mr.. Cook has an equal number fo
similar service next Tuesday.
Garhnckel common, Washington
Gas IS preferred and Capital Tran.
sit made new l943 high marks or
the Washington Exchange today.