Evening star., 1947-01-26


tions permit. He looks for further
business expansion in 1947.
Bank Earnings Up S1,205, 5,000.
Controller of the Currency Preston
Delano announced that 20 Washing
ton banks and trust companies had
net earnings from current opera
tions in 1916 amounting to Sc, SAC, 900,
an increase of 81 ZOE, 600 over 1945.
Interest and dividends on Govern
ment obligations totaled $9,217, 900,
against $7,950,000 a year ago; inter
est and discount on loans reached
s., ,622 900, against $4,60l 600, while
service charges on deposit accounts
brought in 81 ,408, 900, compared with
81 ,287 900 a year ago. Trust depart
ment earnings again were most help
full, 81 ,329 900, compared with 81, 1,217,-
600 a year ago.
Operating expenses also increased,
ST., 1888 900 comparing with $11 ,943,-
600 a year ago. Salaries of officers
required $2,171 900 against 81 ,909 600
and for employees, $4,595, 900 VS.. $3,-
887 900. Interest on deposits, in
cluding savings, moved from ST.
373, 900 to 81, ATE, 900. Taxes increased
total operating expenses calling for
$13 1888 900 against $11,943. 900 in
1945.
Capital Store Sales Drop.
Department store sales in the
Capital for the week ended Satur-
day, January IS, were per cent
below a year ago and 6 per cent
below the previous week this year,
the Richmond Reserve Bank re-
ported yesterday. Sales for the four
weeks ending the same date were
16 per cent above year ago.
The Richmond Bank also an
nounced yesterday that department
store sales in Washington in Decem-
ber were 10 per cent ahead of De-
cember 1945 and in the full year
1916 scored gain of II per cent.
The Citizens Building & Loan
Association, Silver Spring, has an
nounced reelection Of Frank b.
Severance as president and the re-
election of all other officers and di-
rectors.
Lee to Address Controllers.
r. F. Lee, chief historian of the
National Park Service, will address
the dinner meeting of District of
Columbia Control, Controllers H.
stitute of America, at the Carlton
Hotel, Tuesday evening. His talk
will be illustrated and he will be
assisted by T. Sutton Jett who has
charge of Washington memorials.
Mrs. Shannon Clark, formerly
chairman of the board of the Sc
curity State Bank of Pharr, Tex.,
and wife of Admiral j. j. Clark,
commander of the Yorktown, will
address the monthly dinner meeting
of the Bank Women's Club at the
Dodge Hotel tomorrow evening
Miss Peggy Webster, president, will
preside.
Marx Given National Office.
Raymond c. Marx, controller of
the Riggs National Bank, has been
reappointed chairman of the Ma
tional Association of Bank Auditors
and Controllers Committee for Co.
operation With Government Offices.
It is announced that the associa-
tions next convention will be in
Baltimore.
The Federal Trade Commission
Credit Union has declared a per
cent dividend on 1916 earnings. At
the annual meeting Daniel J. Murphy
was elected president, Penelope w.
Cobb vice president, Harriet H.
Esch treasurer, Anna M. Morton
secretary and P. B. Morehouse, j. w.
Carter and E. T. Widmann directors.
The union has 375 members and has
made 1900 loans in 10 years.
The Insurance Club of Washing
ton held its first meeting of the year
under the new officers during the
week at the Mayflower Hotel, with
c. Nelson Bean in the chair. The
other officers are j. Hamilton Vance,
first vice president; j. H. Pumphrey,
second vice president and State ma
tional director; Henry G. Dudley,
secretary, and George G. Denton,
treasurer. Discussion of the cas-
ualty rate regulatory bill featured
the program.
Plans for extensive expansion OF
the Fred S. Gichner Iron Works,
Inc, were announced at the COM
panys annual meeting.