Evening star., 1947-12-14
REPORT Compiled b. E1chdnce OHcf
BONDS

secretary. Assets are reported IN ex-
cess of S10,0OO0O0.
Gordon Foods, Inc, has voted the
regular quarterly dividend OF 10
cents per share on the common
stock, payable January to stock of
record December 20. James M.
Johnston of Johnston, Lemon d Co.
has just returned from a directors
meeting in Atlanta.
Urban real estate financing in the
Nation scared to a new high level in
October when mortgages amounting
to s1,1o3,0O0 10000 were recorded, the
Home Loan Bank Board reported
yesterday.
The rise of $4,000, 600 over Sep
tember and SOC, 900 900 over October,
1916, represents new record in
mortgage financing for the past
eight years, or since these records
have been compiled.
The number of mortgages record
ed in the first 10 months of 1947
was l per cent under last year, but
the dollar volume was per cent
higher, due to an increase in the
average loan from $4,169 to $4,487.
Building and loan associations
made 81 per cent and the banks Is
per cent Of these loans in October.
Industrial Conclave Ends.
More than $50 industrial execu-
tives ended two-day conference at
the Mayfower Hotel yesterday. the
meeting being sponsored by the Ma
chinery and Allied Products Insti-
tute of Washington.
Among the speakers, who talked
off the record, were James v. For
restal, Secretary of Defense; John
L. Sullivan, Secretary of the Navy;
Senators Joseph B. Ball and Ralph
E. Flanders; Arthur M. Hill, chair
man, National Security Resources
Board; John j. McCloy, president,
World Bank; and Willard L. Thorp,
Assistant Secretary OF State for Eco
nomic Affairs.
William J. Kelly, president Of the
institute, and DR.. George Terborgh,
director of research, took active
parts in the program. The purpose
OF the meeting was to give business
men a closer view of national affairs.
Financial District Gossip.
Officers and employees of the
Union Trust Co. held . Yuletide
banquet and dance at the May
flower Hotel. Friday night.
Anne c. Sullivan will preside at
the Bank Womens Club Christmas
party at the Mayfiower. Tuesday
night. National Savings & Trust Co
talent will furnish the program and
Miss Helen Hogan, Bank Of Com
merce & Savings, will become new
member. &.
Francis G. Addison, jr., president
OF the Security Savings & Com
mercial Bank, is on hunting trip
in South Carolina.
j. E. Drew, associate director Of
public relations, National Associa-
ton OF Manufacturers, is former
deputy manager Of the ABA.
Telephone Expansion Pushed.
Nearly s3,000,0O0 has been spent
in an effort to double the number
Of rural telephones in Virginia by
1850, the Associated Press reported
yesterday.
The Chesapeake & Potomac Tele-
phone Co., of Virginia, has appro-
priated $5,300.0O0 to carry out the
program. which includes construc-
ton of 81 new central offices. Con-
version of 2,400 crank-type phones
to more modern sets is planned.
New State and municipal financ-
ing during November totaled $780,
4s6, ,404 compared with $7S, 1874, 900 in
November, 1916, the Daily Bond
Buyer reports. The October figure
was $121 ,033,615.
During the first II months OF this
year new financing amounted to $2,-
247,1ss,3e1 against $1,o2s, 100 1878 in
the like 1916 period.