Evening star., 1945-12-04
Real Estate Mortgage
Calls So Preferred
Stock December q
BY EDWARD C. STONE.

Ralph u. Qulnter, president OF
the Real Estate Mortgage & Guar
anty Corp, announced today that
the company will redeem all out
standing shares of the 5 per cent
cumulative preferred stock, par val
ue $40 per share, on December 28
l945, at the firms office, 1910 K
street NV
There are more than 1000 hold
ers of the stock who are to be paid
SPAS per share, Mr.. Quinter stated
This figure includes the $40 par
value of the stock, 50-cent bonus
and $195 per share in accumulated
dividends.
Redemption of the preferred stock
will require $l960,70070. The par
value payment will total $1,574. $50,
the bonus, S78,743, and the accrued
accumulated dividends, $3O7 ,097 10.
Holders of the stock are urged to
turn in their shares on the redemp-
ton date as all interest ceases after
that time.
The issue is listed on the WASH
ington Stock Exchange, the last sale
taking place at 10A.
SuS AS D EtoSStS az 4NCH L tdh.
H. F. Cellarius, secretary treas
urer OF the United States Savings
and Loan League, reported at the
Chicago conference that 1914 saw
the largest asset gain on record.
The gain of S886, ,46O,637 brought
resources to STATE. .750,657 at the end
of the year This figure will exceed
$4,000 100000 by the end of 1945. he
predicted, adding that Ohio leads
all other States in the amount now
invested in building and loan as
soclatlons-more than ST 10OO,O 900 900.
Trevvett Back in Finance.
lhomas P. Trevvett, jr, who has
been with the War Production Board
as director of the division of statis-
ucal services, has renewed his as
soclatlon with Auchincloss. Parker
& Redpath in the financial district.
He started in the securities business
IN 1919 in New York and was head
OF the statistical department of Har-
rlman & Co. seven years prior to
coming to Washington in 1885 as
manager of the local office of the
same firm. He Joined Auchincloss
in 1910.
Banking Hour Action Near.
The November survey of the
amount of business done by the
banks during the late hours on
Thursday, now that the department
stores no longer are open Thursday
evenings, will be summarized in a
few days and presented to the Dis
trlct Bankers Association. There
will be no change in the late hours
during December. Bruce Baird. pres
ldent, said today.
However, the need for the late
services is believed to have passed
and bankers predict that the hours
VIII be curtailed or abandoned en-
tlrely early in 1916. Many bank
loooles are now practically deserted
during the late hours. The late
service means an l1-hour day for
employees and much extra expense to
the banks
Nees Ends Service in Navy.
Bernard J. Nees. member of the
investment firm of Johnston, Lemon
& Co., returned to the financial dis
trlct today after completing three
years service as lieutenant in the
Navy, stationed in Facilities Branch,
Bureau of Ships. Mr. Nees is a for
mer member of the Board of Gov
ernors of the Washington Stock Ex-
change and is former president of
the Junior Board OF Commerce.
Jack Murphy has just returned to
his position as agency organizer of
the Washington Office of the New
York Life Insurance Co. after four
yeadS in the Coast Guard.