Evening star., 1945-06-17
Other Jobs Plentiful
As Cutbacks Mount
In Fifth District
BY EDWARD C. STONE.

aCCAAlihl6 t1Cllo loi1UWliis tiiG tIdIlSl-
ton from two wars to one, the
Richmond Reserve Banks monthly
review announced. This trend is
likely to continue during much OF
the current year primarily as re-
suit Of the merchant shipbuilding
program drawing to a close.
There are ample opportunities
the survey said, for all displaced
shipbuilding workers to find EMPLOY
ment elsewhere in the district, in
cotton textile and rayon manufac-
ture. in coal mining and on the
farms. The textile industry could
use all Available displaced workers
II they ctAld be channeled into this
field.
The survey stated that bank debts
were 8 per cent above April, 1914
building contracts awarded were 18
per cent higher and building permits
issued showed a 222 per cent ad-
vance. Department store sales were
per cent ahead of last year, store
stocks were up per cent and life
insurance 81 per cent. Wholesale
trade was down l per cent and retail
furniture sales off per cent.
Furniture sales in Washington
were up 4 per cent in the first four
months of 1945 over 1914, and Is per
cent in 10 stores in the whole dis
trict, Thkre were only two failures
in the Fifth District in April, in
Volving sos 900, and nine in the four
months, with 1898 900 liabilities.
Capital Stores Sales Gain.
The Richmond Reserve Bank re-
ported yesterday that department
store sales in Washington for the
week ended Saturday. June 9, were 5
per cent higher than in the compar-
able week year ago and We're 13
per cent ahead of the preceding
week this year.
Cumulative sales for the four
weeks ending June 9 were per cent
above last year in Washington and
5 in the Fifth District.
Stations and Calls Mount.
Chesapeake & Potomac Telephone
Co. officials reported yesterday that
average calls per day in May num-
bered 1.554,718 compared with L.
493,145 in May, 1914, an increase of
61.573.
Telephones in service in May
numbered 367 ,922 against 365. .827 in
the same month year ago, or an
increase of zoos stations. The Nav
flgure showed the largest number of
on record. Anore m materials ter iis'i1ei- be-
come available\this figure is ex-
pected to expand steadily.
Mortgage Loans Increase.
Henry P. Irr, Baltimore, chairman
of the Home Building and Home |
Owning Committee of the United |
States Savings and Loan League, re-
ported yesterday that mortgage
by building and loan as
soclations in the first quarter
reached $349, ,791 900, a gain of 43 per
cent over the first quarter of 1912, |
last similar period when home
building was unrestricted
March loans totaled S141, ,4S1 900.
largest volume since these figures
were first recorded by the Federal
Home Loan Bank System in 1896. he
said. This was S772 900 larger than
the previous high attained in June
a year ago. During the first quar-
ter, IA per cent of the loan volume
was for the purchase of homes, with |
only per cent for new construction.
Outing Tickets in Demand.
Myles H. Quail, president of the
Bond Club, and Chair
man William c. Coe have been
amazed by the demand for tickets to
the annual outing at the Manor
Club Thursday, June %. AS this is
the first outing in four years, club
members appear anxious to get to-
gether again. With their guests, the
outing will be the largest on record.
it was said yesterday.
Prizes, featured by 81 900 Warl
Bond, are drawing special attention.
A stock exchange session, golf and
other sports, and dinner will head |
line the program
Insurance Chairmen Named.
Directors of the District Life Un-
derWriters' Association have ap-
pointed the following committee
chalrmen for the coming year, |
President H Cochran Fisher an
loullCeu yesterday.
Business practice-J E McCombs. gen.
eral agent. Berkshire Life.
Cooperation with attorneys and trust |
lfhcers--John McElfresh, general agent, |
Connecticut Mutual.
Education-Earle w. Sapp, general
gent, New England Mutual.
Law. and observation-disclosures Thore, |
counsel, Acacia.
mberShIp-Claude Cook. manager,
Life Assurance Society.
Washington Baltimore Life Underwrit-
.rs Conference-William j. McCausland, |
Program sand meetings-W H. Mccord, |
manager. Atlantic Life.
Publicity and bulletins-Frank jan
sec4eefT snd asy Yqga von
sGent. National Life of Vermont.
Realty Firm Profits S29,946.
S. Percy Thompson, president of
the American Co., real estate firm, is
the certified annual re-
port which shows total income of
S95 ,926.67 and total expenses of S33,-
41S99, leaving a profit, before de-
probation and taxes, of S62, ,50768.
Depreciation called for $40, ST. .04.
while District and Federal taxes re-
quired S21 800 25, leaving a net profit
Of S29 ,946.39. The company paid SIS
q Slihl Z VII UiiC anu SA OH
the common in 1914. but did not de-
clare dividend on common in
March of this year
Heard in Financial District.
Thomas w. Brahany of Merrill
Lynch, Pierce, Fenner & Beane. is
taking two-Week vacation at Hot
Springs, Va.
T. Loehl OBrien has just COM
pleted very successful year as head
of District of Columbia Chapter,
Life Underwriters. The
new president is Earle w. Sapp.
The two chapters of the American
and Loan Institute will hold
exercises at Hotel 2400
tomorrow evening.
A. T. Mercier, president of the
Southern Pacific, urged whole
hearted support of all war activities"
in a message honoring the 10000
employees now in the armed forces.
Photographs and data furnished
by Washington firm, the Fred S.
Gichner Iron Works, are featured in
a Small Business Manual just pub
lished by the United States Depart
ment of Commerce