Evening star., 1948-01-07
Alb Official Reveals
Membership at New
Peak Near $4,000
By Edword c. Stone

Membership In the American In
stitute Of Banking has reached an
all-time high of nearly $4,000, with
10000 junior bankers in $50 chapters
and study groups enrolled i'm this
years classes, according to Robert
c. Rutherford, assistant secretary
The national officer was the guest
speaker at the midwinter educa-
tional dinner of washington chapter
at the Mayfiower Hotel last night.
His subject was 1.-THE A. I. B.-A
Quality Product" Before going to
New York he was very active in
Minneapolis chapter as an officer
and teacher and in his talk here
stressed the great need of special
training for work in banking.
Herbert D. Lawson, jr.,' educa-
tional chairman, presided at the
dinner. reporting an increase Of rs
per cent this year in Washington
chapter membership, a record for
many years. There were 3l0 stu
dents in the first semester, total
membership being nearly 600.
Other speakers included Theodore
p. Cowgirl, chapter president; Rich
ard A. Norris, president, District
Bankers Association; Ralph Endi-
colt, dean Of the faculty, and Ralph
H. Mittendorf, chief consul.
Active Day on Exchange.
In the first bank stock sales Of
1948 on the Washington Stock Ex-
change, four 100-share lots of Wash
ington Loan 81 Trust Co. stock
changed at 1855. This was points
above the bids at the end Of l947.
Potomac Power issues again were
very active in today's session. The
A preferred appeared on the board
at 46A and the B preferred at 46.
The common sold at 1871 and closed
at 1885. Garfinckel common regis
tered two 50-share sales at Is.
American Airlines during 1s47 set
a, new high in its airfreight opera
tions in Washington, carrying total
Of 1,461 Isl pounds in and out OF the
Capital, as compared with $40 1884
pounds for 1916, District Sales Man
ager Herbert D. Ford announced
today.
Mortgage Insurance Resumed.
In a bulletin sent to State secre-
taries, D. J. Needham, general coun-
sci of the American Bankers Asso-
citation, reports the new law, passed
by Congress and signed by the Pres
ident, provides for an immediate
increase of $3.50, ,00o, 900 in aggregate
insurance authorization under Title
VI of the National Housing Act. The
amount may be increased to $780,
100000. The FHA can now resume
insuring mortgages under Title vi
which had been discontinued for
lack Of funds.
Passed by the Senate and now
pending in the House is the bill
which would restore the Federal
Reserve Boards authority to regu-
late and control consumer credit "in
so far as it relates to installment
credit"
Herman Again Grocery Head.
Paul D. Herman was reelected
president of District Grocery Stores,
Inc, for the fifth consecutive term,
at the 9th annual meeting.
Frank Seidel was named first vice
president; Louis Snider and Jack
Oler, second and third vice presi-
dents; Harry Brill, secretary; Louis
Biskin, treasurer.
Directors include Benjamin Bes-
sci, Milton Ferber, Louis Fox, Francis
Hawkins, jr: Sol Katz, Jerry Litvin,
Maury Metro. David Petrushansky,
Archie Rosenblatt, Abe Rosenf1eld
and Abe Zarin. The organization
now includes 280 individually owned
food stores.
First Federal Savings & Loan
Associations assets reached a new
peak of $32 sos ,9o2 in 1947, Carl H.
Ellingson, president, announced to-
day.