Evening star., 1945-03-25

:: :: !, J: J! !:
tional B a n k
= M chairman and
%# A r h ibald M.
SS MS# McLachlen, vice
M & president n G
,@M# treasurer of the
M Lachlen
Richard A. Norris. Bank, vice
chairman.
Nearly all bank presidents. the
other members include Francis q.
Addison, jr., Security Savings &
Commercial: Bruce Baird, National
Savings & Trust; S. Walter Bogley,
Bank of Bethesda; Clarence F.
Burton, City Bank; M. F. Calnan,
Liberty; Floyd E. Davis, Lincoln;
George A. Didden, jr., National Cap
ital; T. Howard Ducket, Prince
Georges.
Robert v. Fleming, Riggs Ma
tional; John E. Fowler, Arlington
Trust; Thomas j. Groom, Commerce
g. Savings; Linwood P. Harrell.
w. B. Hibbs & Co.; G. F. Jacobsen,
National Metropolitan: w. L.
Koontz, Anacostia Bank; Fred L.
Lutes, Suburban National; Lanier
P. McLachlen, McLachlen Bank;
Harry c. Meem, Washington
Loan & Trust; C. H. Pope, Munsey
Trust; Ord Preston, Union Trust;
John A. Reilly, Second National;
Frank j. Stryker. Columbia Ma
tional; Corcoran Thorn, American
Security; Wilmer J. Waller, Ham
ilton National; j. Frank White,
Bank of Washington; o. w. Young
blood, Citizens Bank of Takoma
Park.
PepcO Net Income Improves.
Net income of the Potomac Elec-
trio Power Co. in February totaled
1855, TAG, an increase of s21 ,721, or
$50 per cent over February. 1914,
the report flied yesterday with the
Public Utilities Commission showed.
This was turnabout from the
January returns.
Operating revenues were S67,483
higher than last year but expenses
were up $115,963. Taxes alone re-
quired s42.337 more than a year
ago and depreciation was s64 ,827
higher. Net income in the FIRST two
months Of. l945 amounted to S7l9,-
087 against S722,040 in 1914, tiny
decrease of s2,953 or 0.41 per cent.
The report reflects debit adj
justment in February of s85, 900 and
in the two months of $4,000 set
aside as reserve for repayment to
customers if the court sustains the
order of the PUG for lower rates.
Pre-Easter Trade Booming.
Continuing recent sharp advances,
department store sales in the Cap
ltal for the week ending Saturday,
March II, scared Is per cent above
the same week year ago and were
3 per cent larger than in the pre-
vlous week this year, the Federal
Reserve Bank of Richmond re-
ported yesterday. All reports to
date indicate the heaviest Easter
trade ever recorded in the city.
In the week under review, trade
in the Fifth District was "a per
cent ahead of last year, up "a in
Baltimore and is in group of other
cities. In the four weeks ended
March II, cumulative sales in the
Capital exceeded the like period a
year ago by II per cent and %. per
cent in the Fifth District, the sur
vey said
Savings In Sharp Increase.
The United States Savings and
Loan League reports that the Ma
tion's building and loan associa-
tlons set a new record with net saw
lngs receipts of S874677, 900, a a
per cent increase over 1943. Loan
repayments were 13 per cent larger
than in 1943.
The report says that for each 81
withdrawn during 1914, S1.85 was
put in by old or new customers,
High payrolls and war employment
are given as reason for the grow
ing interest in thrift. The associa-
tions also sold $685. 10000 in War
Bonds to the public.
Unit Costs Determine Jobs.
Low unit costs of manufacturing
form the only foundation which
may be expected to support a free
enterprise system and insure jobs
at good wages for all who are will
ing to work, Martin A. Moore, presi-
dent of the National Association of
Cost Accountants, told 1876 members
of Washington Chapter, at the
March meeting, Wednesday. Every
Government tax law, or labor law
or directive that restricts business,
restricts jobs, he asserted.
James B. May, controller of South.
ern Diaries, acted as technical chair
man and A. B. Gunnarson of the
United States Chamber of Com
merce was among the forum speak-
ers.
Dudley Dowel to Speak Here.
Dudley Dowell, vice president of
the New York Life Insurance Co,
will address the District Life Under
writer's Association next Thursday
noon at the Willard. Vernon w,
Holleman will preside and first steps
will be taken to change present
methods in the election of officers.
Members of the District Building
and Loan League will hold the
March meeting Tuesday at the
Mayfower, business being preceded
by a luncheon starting at 1890.
w. r. Little, controller of The
Evening Star Newspaper Co. and a
of the Controllers Institute
OF America, will addresse the local
control Tuesday evening at the
Carlton Hotel on the objectives and
purposes OF Controllership Founda-
ton, Inc. M. A. Barlow, controller
OF Hot Shoppes, Inc, will discuss
problems involved in the develop
ment of a pension plan.
Best Makes Fine Showing.
Best q Co. made an excellent
showing for the year ending Janu-
ary 81. net sales of $29 9,267, ,4S0 being
the largest ever recorded and an in
crease of $3,595, ,269. or IA per cent.
over the preceding year. AS preyi-,
ously reported, net profits were equal
TO $3.12 per share VS.. $409 a year
ago. Working capital of s6,822,84
at the year-end was the highest to
date, while current assets of $11,-
W, $40 compared with current liza.
bilities of $4,251 ,678. /.
"12-Ysar Record