Evening star., 1947-11-16

the District Building and Loar
League is reflected in the rise q
first mortgage holdings to $291 ,46S,.
900 on October 81, an increase Of
more than $5s, SOC, 900 in II months
F. Wilson Camp, secretary, stated
yesterday.
October was marked by q flood OF
new applications for home loans
with more than 1900 being tp-
proved, totaling $13,245,o00 This
was a gain in volume Of about a.
000, 900, Mr.. Camp said.
Combined resources Of the inem-
Der associations amounted to $321,.
627,770 on October 81, compared
with 1888 900, 900 on the same cate
a year ago. Savings share accounts
moved up about $25 5,00o, 900 during
the year to 1854 4,312, 900, while re-
serves increased to $4,000 600.
Investing and borrowing customer,
now number 208,673, a net gain oi
II $50 in the II months, Mr.. Camp
stated.
D. C. Store Sales Again Gain.
Sales in Capital department stores
in the week ending Saturday, No.
vember 9, ran 6 per cent ahead Of
the corresponding 1916 week and
were 6 per cent better than In the
preceding week this year, the Rich
mond Reserve Bank reported. In
four weeks ended the same date,
cumulative sales were up 8 per cent.
In the Fifth District, sales were
up 2, 7 and 2 per cent, respectively.
j. Mitchell Owens, general agent
Of the John Hancock Mutual Life
Insurance, announces that the COM
pany has moved into greatly ex-
panded Offices in the Woodward
Building. business to be conducted
in the new quarters tomorrow. The
firm has maintained Washington
office for great many years.
Young to Address Ad Men.
Robert r. Young, chairman of the
Chesapeake & Ohio Railway, will
speak Tuesday at the annual ban
quet Of the American Association
Of Advertising Agencies in New York.
The Lewis Edwin Ryan Advertising
Agency of this city, will be repre-
sented at the. two-day meeting by
Mr.. Ryan, J. r. Cory, w. r. Doores,
John F. Hardie, jr, and L. Loye
Minor.
Brig. Gen. Joseph r. Battley, q.
s. A., retired, of Arlington, was
elected president Of the National
Paint, Varnish and Lacquer Associa-
ton at the close of the seth annual
meeting in Atlantic City, Friday. He
succeeds Ernest T. Trigg who retired
after il years service and was made
chairman of the board. Association
headquarters are in Washington.
Gen. Battley has an outstanding
Army record.
Edward L. McAleer, new president
Of the District Building and Loan
League, will act as chairman at
the monthly meeting of the execu-
tive council, ut the Mayfiowel
Hotel, Tuesday at 1880.
MayfIower Dividend Voted.
In view Of improved earnings
directors of the Mayfiower Hotel
Corp. have declared an initial divi-
dend OF 30 cents per share on the
common stock, payable December
Is to stockholders of record. Novem.
Der IA, II. L. Ludwig, treasurer
announced yesterday.
The Mayflower directors indicated
that further dividend policy will be
determined by economic conditions
and earnings. The stock is nov
quoted over the counter at 12A
bid and 13A offered.
Washington department stores hat
per cent less merchandise OF
hand ut the end Of September thar
. year ago. the Richmond Reserv,
Bank reported yesterday. Outstand.
ing orders for goods also were dowr
18 per cent. Receivables were Il
per cent higher.
The United States Chamber d
Commerce made . strong plea fol
higher freight rates for the railroads
after . special study.