Evening star., 1949-09-12
FTC 10 Submit Rules
To Protect Car Buyer
Al Conference Here
By Nelson M. Shepard

The Federal Trade Commission
will submit to the automobile in
dustry at a conference here on
Thursday. five rules it proposed
today to safeguard buyers by pre-
venting deceptive practices in the
sale and financing of cars pur-
chased on the installment plan.
In addition to industry repre-
sentatives, FTC has invited auto
mobile manufacturers and dealers.
financing institutions and others
to attend the conference which
will continue most of the week.
The Commission said the proposed
rules are intended principally for
guidance of the conference They
would:
Require furnishing the buyer
with an itemized list of charges,
including separate listing of fees
and finance charges.
Require delivery to the buyer of
q copy Of the installment sales
contract.
Prohibit having purchasers sign
contracts or receipts in blank to
be filled in subsequently by the
seller.
Ban false, misleading or decep-
tive statements concerning insur-
ance charges or other provisions of
installment sales contracts.
Prohibit use of multiple rate
charts containing different rates
for the same amount to be
charged.
National Airliries in Black.
Small as it was, the $38.963
profit netted by National Airlines,
Inc, for the fiscal year ended
June 80, 1949, looked good to the
company and its stockholders. in
view of the $2.309,ooo loss sus-
tanned during the previous fiscal
year.
Total revenues of $12,657.63
were the highest in the company's
history, the annual report dis
closed today. They compared with
$7,8S5,478 for the previous year.
Aside from the improved flnan-
cial condition the report disclosed
a sharp increase in carrying busi-
ness. Cargo business nearly dou-
bled the total pounds carried in
194s. Passenger business was up
% per cent in number carried
and SO per cent in number OF
passenger miles flown.
Net earnings were achieved
after absorbing or writing off all
costs connected with the volun-
tary grounding of DC-6 airplanes
and with strikes Of pilots and
other employees which had begun
in 1948 and continued through
the period covered by the report.
In this report G. T. Baker, pres
ident. foresaw intensified COM
petition in the year ahead for
both cargo and passenger busi-
ness.
Capital Agents Invited.
Eugene G. Adams, president of
johnson & Adams, Inc, of GIT
Fifteenth street NV, announced
that two representatives Of the
firm, George L. Haines and Tinsley
Adams, will attend the Honor
Producers Club of the Continen-
tai Assurance Co., which meets
in Chicago this week. The club
membership is made up of agents
who have produced the greatest
amount Of insurance during the
year.
The Continental Co. has passed
the billion dollar mark of insur-
ance in force and a substantial
part of this was attributed to the
johnson & Adams agency, which
has represented this company as
southeastern manager for many
years.
The Southern Railway an
nounced that William C. Richard
son has been promoted to freight
traffic manager at the Washing
ton headquarters. He was formerly
assistant general freight agent at
Cincinnati, Ohio.
Win C. L. u. Diplomas.
c. L. U. diplomas of the Amer
ican College of Life Underwriters
will be awarded in Cincinnati
Wednesday to two Washing
tonians. They are Morton Y. Bull
lock, III, Of the John M. Hancock
Mutual Insurance Co., and John
D. Marsh of Lincoln National Life
Insurance Co.
Roy c. McGuiness of the Wash
ington Office of the Home Life
Insurance Co. has come in for
selling honors. He rated second in
August in the amount of paid
business written by agents of the
company throughout the country.
Chieuuo Livestock