Evening star., 1947-03-02

pared with $2l4, sos, ,1sl in February
1916, an upswing Of $24,451 ,126, or
about the same rise as in January.
Checks in payment Of taxes, retail
sales, and activity in the many ma
tional ofiices now situated here were
mentioned yesterday among reasons
for the continued climb in clearings.
Three Directors Elected.
At the annual meeting Of the
National Press Building Corp, three
new directors were elected, Bert
Andrews Of the New York Herald
Tribune; Philip M. Graham, pub
Usher, Washington Post, and Joseph
H. Short, Baltimore Sun staff. The
same officers were reelected.
Payment Of subscriptions to the
new capital stock Of the Prince
Georges Bank dk Trust Co. expired
on February 2s, more than double
the stock available being in de-
mands. The directors recently au-
thorized an additional 10000 shares
Of stock, 5000 payable in a stock
dividend and $4,000 to be sold at $25
q share.
Resources Set New Records.
George r. Hawkins, president,
Maryland Council Of Insured Sa-
wings and Loan Associations, reports
the A organizations showed greater
growth in 1915 than in any previous
year.
Total resources increased $4,000
600 to a total Of $l46, 900 900, an all
time high. Share accounts increased
$40. 900, 900, highest on record. A total
OF $1l2,00o,000 is now invested in
these institutions. The year saw a
tremendous upsurge in first mort
gage bonds.
Banking Quarters Secured.
The Suburban National Bank,
with Offices in Takoma Park and
Silver Spring, has obtained tempo
rary quarters for an ONCE in Beth
esda at 7444-744e Wisconsin ave-, T.
Howard Duckett, board chairman,
announced yesterday.
The site includes two retail stores
which will be modernized and
equipped for banking. Mr.. Duckett
hopes to have the necessary supplies
and equipment In time to begin
operations May /.
The entire issue Of United Air
Lines new 4keo cumulative pre-
ferred stock has been sold. The
stock will be listed on the New
York Exchange.
Bankers Fix Conclave Dates. -
The District Bankers Association
will hold the annual convention at
Bedford Springs, Pa, June 4-8, on
cials at the Homestead. Hot Springs,
Va, stating that they had no extra
room on those dates.
The Washington group will have
practically the entire hotel at Bed
ford Springs. George M. Fisher,
vice president Of the Washington
Loan & Trust Co., general chairman,
Is proceeding with elaborate plans.
G. H. Ellingson, president OF the
First Federal Savings & Loan Asso-
citation, was appointed chairman for
the committee for the Police Boys
Club drive among building and loan
groups in Washington.
Financial District Gossip.
Linwood P. Harrell, vice president
OF the Union Trust Co., has returned
from vacation in South Carolina.
The Association of Reserve City
Bankers will meet at the New Ocean
House, Swampscott, Mass, May 12-
IA.
The ABA will hold a mortgage
conference In New York next Thurs
day and Friday at the Pennsylvania
Hotel.
The Southern Oxygen Co. has de-
clared the regular quarterly dividend
Of so cents per share, payable March
81 to stock of record March 81.
C. & p. to Spend $456,950.
Directors of the Chesapeake &
Potomac Telephone Co. have voted
to expend $456,950 for construction
and expansion in Washington this
year, as part of the ~, 6,000, 900
expansion program now under way.
The funds will clear up 400 appli-
cations for service in the downtown
area. Two additional radio tele-
phone systems were voted, in addi-
ton to the one now in service.
At the annual meeting yesterday,
all officers were reelected including
were H. Randolph Maddox, presi-
dent. The company reported net
income for January, before interest
and dividends Of $237,771 VS.. $685.
OPT year ago. There was 329, ,o27
a year ago. There were 3e7,539
phones in service at the end Of the
month.