Evening star., 1948-07-25

aLJenQeu CploCo- M
pal High School W
in Alexa ndria
and the Univer- r. S. Hopkins
sity of Virginia. He Joined Eastern
Air Lines here after serving four
and half years in the Army Air
Service.
Olcott Heads Concrete Firm.
Directors of the Anacostia Con-
crete Co., Silver Hill, Md, have
elected John H. Olcott of Arlington,
Va. president to fill a vacancy
existing for some time.
L. L. Mcdonald, vice president,
was elected secretary. Wilson
Brooks of Williamsville, Va; Fleet
wood Garner, Rob Roy, Va, and Ray
Power of Richmond were elected to
the Board of Directors.
Directors of the American Fire
Insurance Co. of the District Of
Columbia have declared the regular
semiannual dividend OF 3 per cent
on the capital stock, payable August
! to stockholders of record July n,
Three New Officers Named.
At a special meeting, directors OF
L. s. Julien, Inc, distributors OF
automotive and welding equipment,
elected Edward NJ Younes secretary
and a director to succeed the late
Mart v. Copeland
George R. Fellabaum was elected
assistant secretary and William B.
Borden, assistant treasurer. The
firm recently celebrated its 28th an
niversary.
The United States Savings and
Loan League yesterday reported a
sharp upward trend In new con-
struction loans and an increase IN
mortgage credit In the first five
months Of 1913. Building and loan
association financed 203,oo0 homes
with loans totaling $l,156,000, 900,
compared with 10000 loans for
$1.428, ,000, 900 . year ago.
The call for loans between $4,000
and $4,000 Is meeting with marked
success, the report added.
Capital Store Sales Rise.
Department store sales in Wash
ington during the week ended Sat-
urday, July II, were 6 per cent high
er than a year ago and 13 per cent
above the previous week this year.
the Richmond Reserve Bank re-
ported. Cumulative sales In the four
weeks ending on the same date were
up 10 per cent from the like period
q year ago.
The Richmond Reserve Bank also
reported that department store sales
in Washington for the month OF
June were 13 per cent ahead OF June,
1947, and in the first half Of 1s4S
we're 4 per cent higher than year
ago.
Sales OF 81 stores in the fifth dis
trict were up 10 per cent IN June
and per cent in the half year,
compared with 1947.
Exchange Business Scars.
The five hour session OF the
Washington Stock Exchange. which
were inaugurated on July IS, have
witnessed an increase in trading
which has surprised the most opti-
mistic members.
In the first seven days of expanded
trading, sales reached 9.957 shares.
This Is half as much business as
was transacted in the first six
months of 1947 when the turnover
WAS 18,808 shares.
During one afternoon, 1910 shares
OF Potomac Electric Power common
stock we're traded. There was also
considerable trading in the fore
noon before the members met at !
n:15.
While the bulk of the extra busi-
ness is in Pepco common and Wash
ington Gas common, additional in
terest has been shown in Hecht,
Woodward IL Lothrop. Peoples Drug,
Lanston Monotype and Mergen-
thaler.
Not only has the business trans
acted been much better than ex-
pected, but the new plan has proved
practical and worthwhile" Bernard
j. Nees, exchange president. said
in commenting on the first week S |
results.
National Honors Assigned.
Roy C. McGuiness of the Wash
ington Agency of the Home Life
Insurance Co.. of New York, stood
second in production in June among
all field men in the United States !
and third in the half year.
Mitchell T. Curtis. Lincoln Ma
tional Life, has been made member
of the Million Dollar Roundtable
OF the National Association Of Life
Underwriters, ]. D. Marsh reports.
Dumont Beerbower. Aetna Life,
10 attending the third Chartered
Life Underwater Institute at the
University Of Connecticut, IS COM
pa,tes heinp represepted