Evening star., 1945-07-29
Acacia Reports Sales
AT New Peaks in June
And First Half =
BY EDWARD C. STONE.

day that the company had sold S40,-
ITO 200 of new life insurance in the
six-month period ending June 30,
largest volume ever sold in six
months and gain of $6,000,000 over
the previous best half year.
June was also the greatest single
month on record, with SO, 1854 500 new
business sold, bringing total insur-
ance in force on June 80 to an all
time high of $616, ,422 TOO, while a
gain of $7.000,000 in assets in the
first half year brought the total to
$138, ,130, 300. =.
Mr.. Montgomery told the board
that in the nearly four years the
country has been at war Acacia has
continuously been the largest local
purchaser of United States Govern
ment bonds. In the seventh drive,
the company purchased SIT 100000
of War Bonds, largest sin>,~ pur-
chase ever recorded in the Capital,
he said.
Transit's Net Rises Sharply.
Net income of the Capital Transit
Co. in June amounted to $148, ,785, an
increase of s19,410, or Is per cent
over June year ago, yesterdays re-
port to the Public Utilities Commis-
sion stated.
Operating revenues were up ST.
922 and operating expenses and de-
probation were reduced about S44,-
900, but taxes caleld for S97 ,044 more
than in June year ago. Revenue
passengers numbered 81, Isl ,583, an
increase of 553,93l
Net income made a sharp gain in
the first half year, reaching 1924
799, notable upturn of S209 654, or
29.3 per cent over the like 1914
period. Operating revenues showed
a S493, 1926 gain, while expenses were
cut more than $4,000, but taxes
were 81 ,073 1893, or At per cent higher
than last year. Revenue passengers
showed an increase of 1858 1859, or
Al per cent.
The report makes no provision for
the increase in depreciation ordered
by the PUG or for costs which may
result from current wage arbitration
procedure.
Baird Completes Committees.
Bruce Baird, president of the Dis
trict Bankers Association, yesterday
announced completion of committees
for the current year, the appoints
ments including the following high
ranking bank officials:
Personnel and operations-w. Hiles
L. Lutes. Suburban National vice chair
man; F. E. Hi!debrand, Metropolitan; Rob
City G. 8. schWeinhaut, 1i Washington Loan;
Thomas j. Norris, Commerce & Savings;
H. J Carr, Citizens. Takoma Park. Robert
Jones, Prince Georges; c. T Merchant,
Arlington Trust; W Paul Stallsmith, Bank
J2hn E RSs Morr.
Plan. chairman; S. Wilson Earnshaw. An
s4 sacostia4 vice chairman; chairman Bernard M Grant.
William Bowie, Prince Georgesi Edward G.
Holmead, Suburban National; Frank w.
Speakers unit-w. T. vandoren, Lib
erty, chairman; D. J. Callahan, jr,, Riggs.
wee chairman: Wilmer J.. Waller, Hamil-
A. Reilly, Second National: F. P. H. Sid
dons American Security;
code. Wesley Clampitt, j., Union
Trust; chairman; Earl G. Jonscher; Amer
isan SeeurIty vice chairman William "
tional Savings; R. P. Hollingsworth, Metro
politan; Aubrey Q. Dooley. Hamilton; Ed
WIN B. SHAY. Riggs; Bernard l.. Amlss.
Standardized banking forms-H. T.
Bisselle, -, Riggs. chairman; George NJ.
w. L. Sanderson, Hamilton; Alan B.
Prosise Arlington Trust; r. Earle Hay
cock, Riggs.
Capital Store Sales Climb.
Department store sales in the Cap
ital for the week ended Saturday,
July 81, show l3 per cent gain
over the corresponding week a year
ago, same as for Baltimore and the
whole fifth district, the Richmond
Reserve Bank reported yesterday
Due mainly to rainy weather, sales
in Washington dropped 13 per cent
below the preceding week this year
and were down 18 per cent in the
fifth district, the review said.
Cumulative sales in the Capital
for the four weeks ending on July 21,
revealed an 18 per cent upSwing
best in many weeks. The District
gain was 81 per cent, with 26 in Bal
timore.
Peoples Drug Dividend Voted.
Directors of Peoples Drug Stores,
terly dividend Of 40 cents per share,
payable october to stockholders of
record September 8.
The sale of $13,855 900 31s per
cent bonds to insurance companies
means the retiring of S8.180000 Gas
As, 1868; S4,750, 900 33.s, due 1868, and
first mortgage real estate note for
1925 900. Neither of these bond is
sues was listed on the Washington
Stock Exchange. The move Simpl-
fles the capital structure and makes
a substantial saving In interest.
Stock Scores 5-Point Gain.
Norfolk & Washington Steamboat
stock closed the week on the WASH
ington Stock Exchange at 200, up 5
points from the last previous sale.
The bid for LanSton Monotype
stock reached u during the week,
highest in years, with no stock Of
fered for sale, even at that price, on
the Washington Exchange The
stock was sold at n in Philadelphia.
Washington brokers say the Re-
serve Boards rs per cent margin re-
quirements have been very vital
factor in recent market declines on
the New York exchange. Margin
traders would have bought stocks
freely and helped check the recent
setback but their accounts are now
frozen" and there is little they
can do. ..
George M Fisher, vice president
and treasurer of the Washington
Loan & Trust Co., is concluding a
short vacation.
r. j. Lindquist, former chief audi
tor of the Reconstruction Finance
Corp, and now with Curtiss- Wright,
has been made financial vice presi-
dent of the Standard Oil Co. of Iii.
diana, with headquarters in Chicago.
The Northwestern Mutual Life IN
surance Co. yesterday reported the
best six months on record, total in
surance in force reaching 81, ,568 ,000,-
600 on June 80, half years increase
of s130,619,000
Although off $26,691 compared
with the like 1914 period. Potomac
Powers half-year net of 81 ,957 ,280 is
considered highly satisfactory.
Chicnoo Grain