Evening star., 1947-02-02

preceding week this year. Cumula-
tive sales for the four weeks end
ing on the same date were per cent
better than a year ago.
The fifth district made a better
record than the Capital. Sales for
the week we're up per cent, were 8
per cent ahead of the previous week
and noted a 9 per cent gain in the
four weeks.
virginia Bank Deposits Up.
Demand deposits in Virginia's 1S4
State banks totaled $3.50, ,259, 900 at
the end of 1916, a gain of 10 per cent
over the preceding year, and time
deposits of $246, 6,146,0 900 showed the
same percentage advance, Milton r.
Morgan, State commissioner OF
banking, reports.
Loans increased, deposits remained
steady, Government holdings were
reduced and total assets leveled on,
the review said. Loans Of $217 ,000,-
900 at the end of 1916 set new
record and were 81 per cent above
the total at the close of 1945, reflect
ing generally good business through
out the State.
Veterans Save Insurance.
The Institute of Life Insurance
yesterday reported that veterans OF
World War II have reinstated 220,-
900 life insurance policies chat had
been dropped since they left the SER
vice. Up to January l. more than
$115, ,000, 100000 Of service insurance
had lapsed. The Veterans Admins
tration has been carrying on a
national drive for reinstatement OF
these policies, with remarkably good
results.
The American Bankers 1947 roll
call of the largest commercial banks
in the United States shows four
Washington banks among the top
800.
Riggs National moved from 61st
position in 1945 to 54th in 1916.
American Security moved from
148th place to 10th. Hamilton Ma
tional moved from 200th to 195th
position, while the National Metro
politan started the year in 285th
position and climbed to 262d place.
Chapter Delegates Listed.
Members of Washington Chapter,
American Savings and Loan Insti-
tute, have completed plans for
attending the 25th annual conven-
ton in Kansas City, February 13-
IS, according to Anne Fague, secre-
tary.
The District delegation will in
clude William E. Poulton, member
of the Executive Council of the in
stitute; Augusta Walter, Richard H.
Sinclair, Worth Arnold, Herman
Schwertner and Dom B. Thomas.
Reservations exceed TOO.
Ralph M. Bogart and John p.
Gard, district representatives OF the
Mutual Benefit Life, have returned
from an extended sales conference
at Newark. .
Association Assets Climb.
The 66th annual statement Of
the washington Permanent Build
ing Association, made public last
night, disclosed that assets OF the
institution rose $1,750,000 during
1916 to q new high Of $15,s61 800.
Carl j. Bergman, president,
stated it was the most successful
II months in the associations his
tory, with investing members i'm
proving their accounts by $549,000,
while surplus and reserves increased
to more than $1,300,000. Outstand-
ing loans showed a gain Of $2,700,000
during the year.
Exchange Pushes Education.
The educational televised film,
Money at Work" has been released
by the New York Stock Exchange
for general showing on February Is.
The films purpose is to acquaint
the public with operations of the
exchange.
Winthrop H. Smith, partner in
Merrill, Lynch, Pierce, Fenner d
Beane, said last week that the Sc
curities business is the least under
stood business in America. He
explained the economic role Of the
exchange in providing a constant
open market for securities where
prices are set by outright action
instead Of negotiation.