Evening star., 1945-06-07
New Refunding Bonds
Of Capital Transit
Extend Advance
By EDWARD C. STONE.

Scoring another aIl-tlne nlgn
mark on the washington Stock Ex-
change, the new Capital Transit 1st
and refunding As have reached 1055s
against the previous high of 1852
The bonds continue to be by far
the most popular senior issue on
the exchange, with a turnover of
more than $106,000 so far this year,
and yield 3.60Go.
Bank stocks are remaining at the
years best prices, as shown by sales
in Washington Loan & Trust stock
at 285 and Union Trust at 130.
Among the more active stocks so far
this week have been Garf1nckel
preferred at %, Washington Gas
common at 27l4 and Hecht common
around Is.
Audley A. P. Savage, auditor OF
the National Savings & Trust Co.,
is expected to be the next chairman
Of the auditors section of the Dis
trict Bankers Association. the elec-
ton to take place Thursday June
81, at the Wardman Park Hotel. He
will succeed Raymond G. Marx, con-
troller of Riggs National. only men,
Der to hold the office twice. The
program calls for a dinner. intro
ductlon OF special guests, report of
the retiring chairman, in addition to
election of the Executive Council.
Advancement to, Be Rapid.
According to precedent, Richard
A. Norris, newly-elected second vice
president of the District Bankers
Association. will be president of the
association in three years Con-
vention chairman this year, he was
placed in line for the association s
highest Office at last weeks election
Born in Washington Al years ago,
and starting his banking career with
the Columbia National, he is now
executive vice president and cashier
Of the Lincoln National, having
Joined the staff in 1921 as a runner.
His advance through many posi-
tions, such as paying teller, note tell
er and branch manager was very
rapid. Mr.. Norris is former presi-
dent of washington Chapter, Ameri-
can Institute of Banking, an insti-
tute graduate, member of the Ma
sonic order, Board of Trade and Co.
lumbia Country Club.
He is a director of the Columbia
Permanent Building Association,
Lincoln Bank, Northern Market Co.,
and attends the Emery Methodist
Church.
Heard in Financial District.
Irwin Bendiner of Philadelphia
will address the District Life I'm
derwriters' Association luncheon to-
morrow on production. presenting
100 ideas in 100 minutes.
H j. LandruS has been named
auditor of Smiths Transfer & Stor-
age Co., which has just acquired its
22d warehouse, at 8l9-82l Ninth
street NV
Charles w. Hackney, manager of
the Washington office of the Min
nesota Mutual Life Insurance Co.
announced today that Bill Werber
has written $500,000 insurance and
pension policy covering 80 employees
of the Times and Alleganian News
paper Co, Cumberland, Md.
1t. Stacy M. Reed, A. c., secretary
of the Security Savings & Com
mercial Bank, was among the serv-
ice men attending the D. c. bankers
convention.
OF current receivables due Wash
ington department stores in April, 52I
per cent were collected; of INSTALL
ment receivables, % per cent.
Class I railroads in the Southern
region in the first four months of
1945 had an estimated net income,
after interest and rentals, of $751;
100000, compared with SGT SOC, 1893 in
the same period of 1874.