Evening star., 1943-11-18

VI.
]. A. Humphrey, Of A. H. Bake
& Co., Inc, was reelected vice pres
ident, and George Schultze, mar
ager of the Washington branch {
Home Affiliated Co.'S, was name
treasurer, succeeding T. R. Barke
who has entered the service.
Ralph w. Lee, jr., member of tn
firm of Ralph w. Lee & Co., we
again made treasurer.
Three new trustees were electet
R. Edward Early, William E. Stans
bury and Rubbert R. Quinter, til
members of the board continuing
Office including Ralph Barker, Wi
liam Kroll Preston Grant, Fred AL
nut, c. Nelson Bean and Howar
Eales.
Strickland Gillian, noted humor
ist and author. served as toastmas
ter during the annual dinner, hi
brilliant wit being greatly enjoyed
Honor guests included Raymon
C. Roberts. fire marshal of the Dis
trict; Albert Jordan, commissions
of insurance; Charles Connor, Mile
Stout, Richard Cope and Lawrenc
Cook, all deputy commissioners O
insurance; A. Scott Offutt, presi
dent, District Bankers Association
Lewis T. Breuninger, vice president
District of Columbia Real Estat
Board, and Edwin D. Detwilel
chairman, Insurance Committee
Washington Board of Trade.
The club, organized in 1922, hold
memberships in the Insurance Insti
tute of America and the Nationa
Fire Protection Association.
Transit Declared Dividend.
Directors of the Capital Transi
Co. today declared dividend of 81
cents per share, payable Decembe,
81 to stockholders of record on De
cember 4. This is the regular quar-.
terly dividend, and brings the year.
payments to So, against SITS paid il
1912. The announcement added:
The Board of Directors, at thu
regular monthly meeting held today
directed that $125,OOO be allocatee
from undistributed earnings for thu
fourth quarter of 1943 to the prop
erty adjustment reserve, and, fur.
ther. that $4,000 from such earning.
be allocated to the reserve for post.
war requirements"
Veteran Director Honored.
Directors of Washington's oldes
building and loan association, tn,
Oriental, gathered yesterday in tn,
institutions boardroom and paid {
birthday tribute to Carl c. Hanak.
who has just become 95 years old
Mr.. Haneke, resident of nearby
Virginia, was 13 years old when the
Oriental Building Association begar
business in 1861. Chaplin Baumar
presided.
John H. Hanna, chairman of the
board of the Capital Transit Co.
who declined reelection as a direc-
tor of the Federal Reserve Bank OF
Richmond. will have served the bank
10 years when his term expires in
January. Harry Lee Rust, jr, who
takes his place, had the unanimous
Endorsement of the District Bank.
ers Association and the Clearins
House Association.
Addison Hits Subsidies.
Francis G. Addison, jr., president
OF the Security Savings & CONNER.
cial Bank and chairman of the ABA
Federal Legislation Committee, ap.
peared before a House committe,
yesterday and presented the ABB
opposition to the Government sub
sides being received by the Pro
duction Credit Corp, which banker
claim mean very unfair competition
for country banks.
The ABA does not object to tn
corporation but to the Government
aid furnished in its operation. MI
Addison answered many question
from committee members, espe
cially regarding the Federal De
post Insurance Corp.
Charles T. O'Neil of Charlottes
vile. Va, also appeared before tn
special committee, as an expert OF
agricultural credit.
War Loans Advanced.
Members of the ABA Committee
on Treasury Borrowing have beer
holding conferences with Secretar,
Morgenthau on the size and term
of the various issues to be Offered
in the Fourth War Loan drive.
President Virgins of the ABA
chairman of the committee, ant
Robert V. Fleming, president of tn,
Riggs National Bank, vice chair
man, were among those attendin;
the conferences. Tom K. Smith
former ABA president, was alst
present.
Edward E. Brown, president Firs
National Bank, Chicago, and B. M
Edwards, president, South Caroline
National Bank, Columbia, ar,
among, the leading members.
Lincoln Dividends Voted.
Directors of the Lincoln Service
Corp. have declared the regula
quarterly dividend of 134 per cen
en- the per cent cumulative prio
preferred stock, President Charlie
Delmar announced today.
The board also declared the regu
lar quarterly dividend of y per cen
per share on the per cent cumu
lative participating preferred stool
and the usual 25 cents per share OF
the common stock, all dividend
being payable December 13 to stock
holders of record November 30.
d. C. Insurance Sales Jump.
Life insurance sales in the Distric
of Columbia in October reached 81,
80l 900, a Jump Of % per cent owe
the same month last year, 1t wa
reported from Hartford today.
Sales in Washington in the frs
10 months amounted to $54 ,074, ,00C
an increase of 6 per cent over tn
like 1912 period, the report said.