Evening star., 1949-10-03
Home Building Lifts
Construction 10 Peak
During September
By Edword c. Stone

New construction in the Nation
registered a seasonal peak of
$1,9o2 100000 in September, due
to an outstanding advance in
private home building, the Com
merce Department reported today.
Private building usually declines
in September. .
Residential building this year
moved up per cent from August
to a total of S680,000,000 but
September was per cent short of
the same month a year ago in
house building.
In the first nine months of this
year, private construction was
under the like 1948 period but
public construction expanded. The
combined total reached $14,076.-
100000 or l per cent ahead of last
year.
Many Dividends Pending.
Many stocks listed on the Wash
ington Stock Exchange will pay
dividends in the next few days
which already have been declared.
Among stocks now quoted ex-
dividend are American Telephone,
Capital Transit, Potomac Power
preferreds, American Security g.
Trust, Riggs National, Prince
Georges County Bank, and Peo-
Piles Drug Stores common.
Television Dealers Meet.
The Starrett Television Corp.
will hold a two-day dealers meet
ing tomorrow and Wednesday at
the Wardman Park Hotel, Whit
field Pressinger presiding. Latest
developments will be on display
and advertising plans announced.
Arthur T. Davenport, of Wash
ington, a patent attorney with
the Dupont Co., has just retired
after IS years with the firm. He
is native of Gordonsville, Va, a
graduate of the University of
Virginia and Yale.
The Federal Reserve Bank of
Richmond has announced retire.
ment of c. L. Guthrie. vice presi-
dent and cashier. With the bank
since 1919, he retired under the
Federal Reserves disability pro-
vision.
Election Dates Announced.
Officials of the Richmond Re-
serve Bank will hold an election
of directors in November to name
successors to Warren S. johnson,
Wilmington, N. c.. and H. L. Rust,
jr., Washington. whose terms ex-
pire December 81. 1949. AS usual,
the voting will be by mail.
The Home Loan Bank Board
has reported that individuals had
total savings of S166. 1875 900. 900
of June 80, an increase of s4,299,-
100000 in the nation in the first
half year.
Donald F. Bradford. director
of research for the National As
sociation of Food Chains. has
joined the Home Life Insurance
Washington staff. He is a Bowdoin
College graduate.
The District Life Underwriters
Association will hold the first
luncheon Of the year on October
27, at the Mayfower Hotel
Sales Record Stands Out.
The Federal Reserve Board re-
ports that Washington was one
of the few cities in the whole
country that had gain in de-
partr1ent store sales in the first
eight months of the year. It was
3 per cent.
Charleston, S. c.. had Z per
cent gain and Columbia, S. c., a
5 per cent upturn. Sales in down.
town Boston were up l per cent,
the analysis showed. Sales in
New Orleans and Jackson. Miss.
were ahead of last year. Flint.
Mich, was another city reporting
an advance.
Store sales in the eight months
in more than 100 other cities COW
cred in the review were under
last year. The national average
was down per cent.
CAPITAL Transit in Demand.
In today's active trading on the
Washington Stock Exchange. 284
shares of Capital Transit stock
sold at %. The last previous sale
was at %.
Woodward & Lothrop common
opened the week with a SALE of
11o shares at 321a, up %. Poto-
mac Electric Power common was
in strong demand at Is, un-
changed. /
One hundred shares of Wash
ington Gas common came out at
241a, also unchanged. Garfinckel