Evening star., 1946-07-21
Bank Of Commerce
To Open Brightwood
Branch Tomorrow
BY Edword c. Stone

Opening on the first day of WASH
ington's new banking hours, the
Brightwood Branch of the Bank of
Commerce & Savings will start busi-
ness at 8 am. tomorrow in temporary
quarters at 6424 Georgia avenue NV.
Francis E. Robey, vice president,
will be in charge of the office, aided
by William w. Silver, jr., assistant
cashier. Mr.. Robey has been with
the bank since 1918 and Mr.. Silver
since 1924.
The new branch gives this rapidly
growing section of the city the first
banking Office since 1882, Thomas j.
Groom, president, said yesterday. He
added that the bank has purchased
the real estate at 6410 Georgia ave-
nue. on which spacious and modern
banking quarters will be erected as
soon as building conditions viii
permit after Government restric-
items have been lifted on commercial
construction.
The new branch will be open from
9 am. to 2 pm. daily and on Fridays
from 4 to $50 pm. With all other
District banks, the office will be
closed on Saturdays. The main Office
is located at Seventh and E SITS. N.
w, and a branch has been operated
for several years at North Capitol
and H Sts.
Three New Directors Named.
Three new directors were elected
at the annual meeting of the North
east Building Association, Thursday,
Jack Riley, treasurer of the institu-
ton; Eppa L. Norris, manager OF
the Woodridge-Langdon Branch Of
the Hamilton National Bank, and
Joseph E. Bruno, realtor.
Secretary Raymond C. Williams
told shareholders that resources
reached $3.50, 900 on June 30, new
high, following an extremely salts
factory year. Schuyler S. Symon~
was reelected president: w. S. Tor
bert, H. C. Althof and Julian F. Bel
field, vice presidents; Mr.. Williams
secretary; Mr.. Riley, treasurer: ant
Edith Y. Gouge, assistant secretar!
and assistant treasurer.
Directors include j. L. SHERWOOD
r. John Boehs, Alfred L. Foste1
John B. Rubino, Roy L. Swenso"
Dwight L. Myers. Messrs Symon
Torbert, Althof, Belfeld, Riley, MOI
ris and Bruno.
Capital Trade Again Advances.
The Richmond Reserve Bank re
ported yesterday that departmer
store sales in Washington in Jun
were % per cent higher than yea
ago and in the first half year ran y
per cent ahead of the like 1914
period. Sales in 81 department store.
in the whole Fifth District showed
% per cent gain in June over last
year and % per cent in the first si,.
months of this year.
The Richmond bank also reported
2 per cent rise in Capital store
sales for the week ending SATURDAY.
July 13, over the corresponding wee
last year, and an increase of S Pc
cent over the preceding week thi'
year. The Fifth District upturn wa.
7 and per cent, respectively.
Cumulative sales in Washingto,
for the four weeks ended July /
were IT per cent higher than yea
ago.
Late Hours Differ Widely.
Washington's 27 building and loa;
associations, which are adopting ne
late hours in the afternoon one da-
a week, have selected different day
for the service, it was announce
yesterday by Rudolph w. Santef
mann, president of the Distric
Building and Loan League.
A majority of the associations vii
open late on Thursday afternoons
One association has chosen Mondat
as the best day to accommodate pa
irons. Each Office is making its owY
arrangements. The regular dali
hours remain 9 to 4, except on Sat
urdays.
While the city's 81 banks hav
adopted Friday for the late after
noon service, it was learned yester
day that some will close at 5, other
at $50 and others at 6. Some Of tn
branches will remain open later ths-
the main offices. Four are not adopt
ing the late hours.
Bank Earnings, Expenses Up.
Total earnings of all Washingto
banks in the first half year amounte
to S9,879 900, compared with $3.50
600 in the like period in 1945, Con-
troller of the Currency Preston Del
ano reported yesterday, a substan-
tial gain
But operating expenses also went
up to $6,262,000 in comparison with
s5.724,0o0 year ago. Higher sal
aries and wages for officers and en-
ployes, larger interest paymente
on time deposits and other current
expense increases were factors in
the larger total.
After deduction of expenses, net
earnings from current operations
aggregated S3,617,000 compared with
S2,805,000 a year ago, a gain of
$4,000. 1t was an unusual period
for stock dividends. The 27 banks
paid cash dividends of 1865 900 VS..
s73o,o0e in the first half of 1e45.
Colonial Sets New Records,
The Washington office of Colonial
Alrlines, Inc. reported yesterday
that passenger, travel for the first
six months of this year was 80 per
cent higher than in the like 1945
period while passengers carried in
June established new highs for the
third successive month. Mail and
express also showed substantial in
creases in both periods.
The company carried 66,03o pas
sengers in the half year and Is ,523
passengers in June, a 20 per cent
increase over the preceding month
which had established new record
and a jump of "a per cent over
June l945, the report stated.
Another company, United Air
Lines, yesterday announced a plan
to lower air freight rates. In tar
ifs filed with the Civil Aeronautics
Board, United showed rates as low
as 1712 cents pound on shipments
OF $4,000 pounds across the country.
Transit As at New 1916 Peak. Z
Capital Transit 4s sold at lot on
the Washington Stock EXCHANGE
Friday, new 1916 high mark.