Evening star., 1947-06-11
Annual Auto Output
OF 100000 Seen
In 194S or 1o4o
By Edword e. Stone

The Nations automobile industry
appears headed for record annual
production of 100000 cars and
trucks next year or in 1949, and
price reduction may then become a
possibility, according to study of
the industry by Merrill Lynch,
Pierce, Fenner & Beane being dis
tributed here.
Recent trends, the review says,
indicate an output of around 5,000,-
900 cars and trucks for 1947, but
before the present backlog OF de-
mand Is filled, a 5000. .000-unit year
may be seen, a new all-time high.
Just when the new record will be
realized, Merrill Lynch says, will be
governed chiefly by the course Of
general business, as we'll as by pro-
ducers ability to cut costs and SELL
ing prices, and by the supply of
materials available.
A volume of such proportions
would 60 long way toward help
ing absorb the new wage increases
granted this spring Further i'm
provemepts in operating efficiency
are likely, and 1t may be feasible
.ater on TO make price reductions
Without permanent sacrifice of profit
margins, the review concludes.
Controllers to Hear Patman.
Representative Wright Patman,
Democrat, Pf Texas, will be the
banquet speaker at the 9th con-
vention of the Controllers Congress
of the NATIONAL Retail Dry Goods
Association, which opened today in
Los Angeles. His subject will be
Private Enterprise Built Our Cour1-
try and Needs to be Preserved" The
theme of the convention will be
lower distribution costs.
Charles K Reid II has been ap-
pointed assistant general agent in
Washington for the Lincoln Ma
tional Life Insurance Co. He has
had nine years field experience; is
member of the District Life Under
writer's Association and Junior
Board of Trade.
Hotel Summer White House.
President Buchanan used the
original Bedford Springs Hotel as a
summer White House, according to
a historic marker in front OF the
present hotel. District bankers were
impressed by the age of the Penn
sylvania resort as well as by the
scenic surroundings.
Aubrey G. Lanston, vice president
of the First Boston Corp, one of
the bankers convention speakers,
is q grandson of Tolbert Lanston,
who was instrumental in forming
the Lanston Monotype Machine Co.
in Alexandria, Va. about SO years
ago. Aubrey Lanston was born IN
Washington. During the war he
worked in the Treasury on bond
issues.
Union Trust Dividend Voted.
Directors of the Union Trust Co.
have declared the regular semi
annual dividend of per cent, or
50 cents share on the $40 par
stock, payable July Is to stockhold-
ers of record June 30, Secretary
Irving Zirpel announced.
A delegation of Is members OF
Washington Chapter, National As
ISOLATION of Cost Accountants, led
by Herbert Danne. newly elected
president, will attend the 28th In
ternationaI Cost Conference in
Chicago, June 1913,
Directors of the Federal Home
Loan Bank of winston Salem o. K.
La Rogue, president, will hold their
quarterly meeting at the Statler
Friday morning.
Voters of 178 communities in 26
States authorized issuance of S20l,-
539,6l7 of municipal securities dur
ing May, the Daily Bond Buyer
announced In May. 1946, total OF
s23l,093,53o was voted. Baltimores
s39, 100000 issue was in the present
list,