Evening star., 1948-10-17

His subject will be Current Ac-
counting Trends in the Income
Statement" John A. Bard will be
technical chairman, the usual fel-
lowship hour starting at 6 o'clock.
Nominating Committee Named.
Harvey B. Gram, jr., of Johnston,
Lemon g. Co. has been appointed a
member of the Nominating Com
mittee Of District No. II, National
Association of Securities Dealers. to
name a member for the national
Board Of Governors to succeed r. c.
Kirchofer of Raleigh, N. c.
William w. Mackall, Washington,
and E. B. Horner of Lynchburg are
concluding terms on the District II
committee and nominations will be
made for these vacancies. Their
terms expire January Is.
Retail Sales Exceed 1947.
Department store sales in the
Capital for the week ended October
9 were 10 per cent ahead of the
corresponding week of last year,
the Richmond Reserve Bank re-
ported. Sales were 10 per cent
under the preceding week this
year partly due to heavy rains.
Sales in the four weeks ending
October 9 were per cent ahead Of
the like 1947 period. In the fifth
district cumulative sales were up 6
per cent.
Thomas J. Groom, chairman Of
the District Savings Bond Division.
has announced appointment OF
Joseph C. McGarraghy as chairman
| of the Legal Committee.
Store Expansion Announced.
E. I. Engelman, Eastern supervisor
for the Shoe Corp. of America, re-
ported yesterday that sixth E. D.
Edwards store is nearly completed in
Bethesda, Md. The headquarters
store at 1904 G street NV, will
! soon be ready for service and, plans
are under way for the opening OF
a store in Clarendon, Va. 1t will
be the eighth in this area.
The 1854 shares OF unsubscribed
common stock of the Washington
Gas Light Co. have been sold by
the underwriting group headed by
| lIlc SOlP anu
ston, Lemon & Co. The total offer
ing was 102, 900 shares. present COM
mon stock holders taking 88,346
shares.
The $37,5O0,0O0 issue of Chesa-
peake Bay Bridge bonds will go on
the market this week, leading Wash
ington investment firms being
among the "a underwriting concerns
handling the sale.
Branch Bank Ready to Open.
The Citizens Bank of Riverdale
will open a new drive-in branch in
Avondale next, Saturday. at 1900
Queens Chapel Road. The bank will
feature two drive-in windows and
patrons will be able to make de-
posits and cash checks from their
automobiles. Ample parking space
has been provided for patrons wish
ing to enter the bank.
The branch will be open from
am. to / pm. and the drive-in
windows will be reopened daily ex-
cept Saturdays from 4:30 to 6 o'clock.
Alfred H. Smith. president, an
nounced yesterday that York D,
Hollingsworth. assistant cashier. will
manage the Avondale branch. AS
manager of the Bladensburg branch
he built up more than 81 100000 in
deposits the first year, Mr.. Smith
said.
Real Estate Mortgages Rise.
The Home Loan Bank Board re-
ported that real estate financing con-
tinued near their record high during
August when $1,024,00000O nom
farm mortgages we're recorded. This
was per cent gain over August.
1947. The volume exceeded $l,000,-
100000 in five consecutive months.
The greater part of the August
financing was done by building and
loan associations and the banks. the
report said.