Evening star., 1943-08-15
Banking Facilities
For Armed Forces
Prove Valuable
By EDWARD G. STONE.

Service banks" better known as
banking facilities established at
Army, Navy and air stations, are
proving of great worth both to en-
listed men and civilians in cashing
checks, handling deposits, extension
of loans and in the sale of War
bonds, a survey of the banking
Offices in this vicinity discloses.
The Offices are conducted more
for convenience than profit, but
bank officials said yesterday that
thousands of men in the service are
developing their first interest in
banks. Many had never before Wis
tied bank lobby, bank account
being foreign to their way of living.
These new patrons are expected to
keep up their accounts after the
war.
Most offices take both checking
and savings accounts. The demand
for loans, officers say, is consider
ably limited, but the Office managers
are called upon for some extension
of credit. Many depositors have
joint accounts so that relatives may
use them in case of transfers. The
result has been that some accounts
are being carried on by soldiers now
all over the world.
The Bank of America, with 20
offices, has the most of any bank,
a national review says. The survey
adds that the check racket has
been wiped out, men at outlying
posts no longer being obliged to
pay from Is cents to 81 to get a
check cashed. Finance officers are
finding the service banks especially
helpful. Reports show that Army
men have been the heaviest War
bond buyers to date, but sales to
Navy personnel have recently in
creased sharply.
Facilities in the District include
offices for the Quartermaster
Corps, at Second and @ streets
S.W, conducted by the McLachlen
Bank; the National Savings 81
Trust branch at Boiling Field Air
Base, and the City Banks office at
the Navy Yard. The largest ofice
in this territory is in the Pentagon
Building and has 81 teller's windows.
New Mackay Manager Named.
Ray Duggan, former Washing
tonian, has succeeded J. T. Chat
terton as district manager of the
Mackay Radio g. telegraph Co., in
charge of the Washington and
Baltimore territories and liaison
activities with the Government for
his company. which is an associate
company Of the I. T. & T.
Mr. Duggan resided in Washing
ton for four years, attending
George Washington University dur
ing his stay here and was active in
school circles, being a member Of
the G. w. U. Letter Club, and a
member of Phi Sigma Kappa Fra
ternity.
La Rogue to Lead Forum.
President o. X. La ROGUE of the
Federal Home Loan Bank of
Winston-Salem will guide discus
sions at the wartime dinner con-
ference of building and loan asso-
citation leaders of this area at the
Statler Hotel next Friday evening.
Lending policies, reserves, inter-
est and dividend rates and. the
sale and purchase of investment
securities are considered the most
impirtant problems in the building
and loan field right now. All will
be discussed as matters of mutual
concern.
Gas Light Net Works Higher.
The Washington Gas Light Co.
and subsidiaries report for the II
months ended June 80, 1s43. a net
income of $l,438, 800 after charges
and Federal income and excess
profits taxes, as compared with
sl,088,627 in the corresponding pc
riod in 1942.
Y. E. Booker, resident partner in
Alexander Brown IL Co., is spending
his vacation in Neu Iersay