Evening star., 1948-11-21

COullSCl 1Ol ciie .a11 X@
a director of the
Union Trust Co,
and president of
the Chevy Chase
Club. He has Mr.. Hamilton.
taken leading part in many civic
and philanthropic activities IN
Washington.
Reserves Reach New Peak.
Reserves, including surplus, OF the
27 associations comprising the Dis
trict Building and Loan League, rose
to an all-time high OF s29,473.977.
during October, yesterdays monthly
report revealed.
Combined assets totaled S348, ,354.-
$50 on October 30. OF this amount
1919 100000 was invested in first
mortgage loans. the number OF
loans settle during the month regis
tering a sharp drop from a year
earlier.
Owners of savings share accounts
improved their balances, with the
total for all institutions rising o
S285, 1886, 900. The associations re-
ported a gain of 1000 new patrons
since October, 1947,
Pepco Seeks S5.O00,00O Loan.
Directors of the Potomac Electric
Power Co. have asked the 1907
preferred stockholders for approval
of a proposed $5.000,000 bank loan, a
special meeting being called for De-
cember 7, President A. G. Neal an
nounced yesterday,
The loan is needed in connection
with the expansion of service esti-
mated to cost s85,000000 in tho
years 1949 to 1852. inclusive. The
company obtained $15,000,000 OF
the needed funds through the
mortgage bond sale of last January
and expects to provide through
operations another $15.000,000.
The other needed funds will be
provided by the sale of mortgage
bonds, preferred and common stock
at later dates
Section Committees Named.
Lyman E. Morris, chairman of the
Safe Deposit Section of the District
Bankers Association. has appointed
these committees for the year:
Program-Mrs. Burdette Monroe. Union
SAVINGS & Trust; A. F. seipel McLachen
0asniad standardized HH7ed Forms-Guy D. cowl. Nc
Lschlen Bank chairman; William H Har.
per. Washington Loan & Trust; Mrs. Mabel
Standardized Prsctices-Stanley Wolfe,
Riags National, chairman; Hans W. 1Te-
Ian, AMERICAN Security; AlexandesE j. nt FSnt.
N National atiosi BanE % Of Washinston
Publicity-William M Mcclure, Nc
aehlen Bank. chairman; Miss Geraldine
HUFFMAN Donald Mowbray, American Sc
woodward Dividends Voted.
Woodward g. Lothrop directors
have declared the regular quarterly
dividend of so cents per share on
the common stock and the usual
SIPS quarterly on the preferred
stock, both payable December % to
stock of record December Is.
The Lincoln National Bank has
declared a semiannual dividend OF
$3.50 per share and an extra div
idend of $3.50 per share. both pay
able January / to stock of record
December 13.
Washington department store
sales in the week ended November
l3 ran per cent ahead of the cor
responding week last year and "a
per cent above the previous week
this year. Cumulative sales in the
four weeks ending November l3
were 2 per cent ahead of the like
1947 period
Rowe to Address Controllers.
James Henry Rowe, jr., member
of the commission on organization
of the executive branch of the Gov
ernment, will address District Con-
troll, Controllers Institute of Amer
ica, Tuesday evening at the Carlton
Hotel. on the Activities of the
Hoover Commission. AS a Demo-
cratic member, he is expected to
take very active part in the re-
plans.
Attorney General Tom Clark will
address tie December meeting CT
Chapter, National As
sociation of Cost Accountant, on
Interesting Happenings in the De-
partment of Justice"
Meeting Tuesday noon at the
the Executive Council of
the District Building and Loan
League will hear report by F.
Wilson Camp on the national con-
1ention in New York
The Prince Georges Bank & Trust
20. will distribute on November %
lbout 100000 in Christmas savings
70 5000 club members. The l949
'lubs are now being opened.
Agents Pile Up Insurance.
Virginia life insurance agents
made fine october showing, sales
# $22,025 900 equallng 80
while the 10-month total of $780,
'35, 900 was per cent ahead OF last
ear.
Maryland sales of $19,531 900 in
October were down per cent hut
n the 10 months climbed to $780,
III ,000 gain OF p~4 ~, i
947. Sales in the Capital Wee off
,nly 2 per cent in the 10 months
md l pr cent in the Nation.
r. H. OMalley, national director
# payroll savings for the i /
urged participation in
he deduction plan at a meeting of
90 International Business Ma
hines personnel at the Connecticut
venue Office Friday ninht.
Rowland Jones, jr., of Los Angeles,
as been appointed president of the
american Retail Federation, 1927
street NV.
Pressed Steel Car Co. reported a
,ss of $1,037,510 in nine months
nded September 80 VS.. profit OF
66 ,235 or At cents in the same 1947
eriod.
Hayes Industries, Inc, earned \
l62, 2,097 or 40 cents in Ia, lnon,AS
nded October 81 VS.. $102, ,123 or
ents a year earlier.