Evening star., 1943-03-22
Building and Loan
Assets Up S8,S09,298
During Past Year
D, c. League Official
Notes s2,483 300 Real
Estote Loon Rise
By EDWARD c. STONE.

y
over the corresponding date a yea
ago. F. Wilson Camp, league secre
tary, announced today.
Comparisons with last years bal
ence sheet show interesting changes
Cash on hand rose from S5,625 BAT {
wear ago to S8237,795 on Februar,
%. while borrowed money and redlS
counts dropped during the year iron
s5.567 .9l0 to ST ,425 450. At the same
time the inclusion of War bond Of
ferlngs in members portfolios causeo
this item to soar from Sl,500000 tt
more than $4,000 600,
Real estate loans gained slightly
over last year. now standing at Sl64,'
a69 1898; up S2483,30 New share
money amounted to Sl377l, ,449
bringing the funds due shareholders
to sl63 ,3878l7. a new high
A noticeable drop in investment
accounts closed out is noted Las
year new accounts were only slightly
above those terminated. Durlne
February, however, the number OF
new shareholders exceeded close outs
by over to /.
Telephone Proxies Requested.
About $4,000 holders Of American
Telephone & Telegraph stock here
have Just received proxy requests fol-
the annual meeting on Wednesday
April 81 in New York, Eighteen dl-
rectors and three election inspectors
are to be elected and other business
transacted
Reporting on remuneration paid
officers during the last year, the
statement shows that President Wal
ter S. Clifford received S2l0,250 j. F..
Behan, treasurer, $685. 900; Charles P.
Cooper, vice president. SlOl ,479;
William H. Harrison, vice president,
SAG. 3O2: c. A. HeiSs, controller, $50
600: F. B. JeWett and Keith S. Nc
Hugh, vice presidents. S66 900, Ar
thur w. Page. vice president, S61 600,
and J. H. Ray, counsel. $40 900.
Most of the directors up for re-
election have been on the board for
many years.
Premiums Up S16,91S,39S.
Total net premium income Of the
lea was S50,011.54 in 1912, an in
crease of s16,918,398 over 194l. &C
cording to the annual report received
today by Charles F. Holden man
ager of the Washington Office.
Assets showed a gain and surplus
crossed the S75 900, 900 mark. Losses
paid on ocean marine war risks to-
tailed S15222.447, the report said.
The marine insurance market un-
derestimated the extent of the sub
marine attack upon our shipping
and overestimated the Governments S
ability Immediately to cope with it,
the report explained.
North Americas 1912 investments
In securities concentrated largely in
issues of the United States Govern
ment. Through subscriptions to war
loans. it increased its holdings Of
Government securities by IS .288, 900.
Ration Banking Increases.
Washington bankers reported to-
day that the number of ration bank
ing accounts has been multiplying
rapidly since the banks added ration
point basis, March !. While activity
along this line varies several banks
have experienced notable expansion
in accounts; others say the change
has been only slight.
The first accounts were for sugar,
coffee and gasoline only. A much
larger number of dealers in proc
essed foods have now opened &C
counts than did when the new bank
ing service first went into effect and
was limited to three commodities.
Another increase IN business is
expected after next Monday. when
butter. meats, cheese, oils, fats and
canned fish will be added TO the
ration program.
Special ABA Committee Named.
Rudolph E. Reichart, Ann Arbor
banker, has been named chairman
of a subcommittee on social security
bv President Hemingway Of the
American Bankers Association. He
is a former bank commissioner OF
Michigan. The flve-member com
mittee will assemble material or
this live subject.
The annual convention Of the Vlr-
elnia Bankers Association will be
limited to two days this year, june
9 and 20, the place TO be announced
It will be known as wartime
business meeting according tf
President Thomas D. Neal.
John A. Reilly, president Of the
District Bankers Association, sale
TODAY the June convention pro
cram has been so arranged tha
hank executives will be away from
their desks only two hours during
banking hours. Fridays meeting
will be after banking hourS. Inc
time of will be on SATURDAY lore
noon. ,o.o
Gas Common at New l943 Peak.
Washington Gas Light common
,eached new high mark on tn
Washington Stock Exchange TO-DAY
The stock opened with 40 and 10
share lots moving at 1875. best prIc'
If the wear, followed by another d
shares coming out at 49,. Inc ma
hid was l8l., offered at l8"s.
Carinckel common was IN heaF,
demand today, 100 ana oo-ShaFe Iol
changing ownership. eX-dividend, a
a. not quite up to the high for tn
year. .,- .o,a,
also appeared on the board. II
shares selling eX-diVldend at So :
aaainst the last previous sale a
34l7. arm ot.,.,..,
Washington Gas $3.50 prefeIre'
-an,e out at 9lla, up Il from tn
last transfer
security Storage registered IN
erst sale this year at TO up fou
mi, points from the last l942 trans
action. -,,.
Rail Traffic Rises Sharply
Nj Gornley Of Washington. eX
.cutive assistant OF the ASsoclatloI
~ American Railroads, reports tha
i, the first two months OF TINS yea
tne railroads carried more ina
three times as many troops IN OF
esnized movements as they did