Evening star., 1949-09-21
District Bank Loans
Gain S2,164,00O in
Week Ended Sept. IA
By Edwurd c. Stone

BY Edward c. Stone
Total loans in Washington
banks for this week ended Sep
tember IA showed q gain of 81,
$4,000 over the preceding week
the Richmond Reserve Bank re
ported today. Loans on that dat
aggregated $234,570,OOO agains
$232,406,000 in the previous week
Assets were up $17.932,000 TO
the week, $992, $4,000 comparing
with 1915, ,655,000 in the earle,
period.
Demand deposits revealed al
increase of $17,747.000 during thu
week but time deposits were slight
ly lower. the report said.
Bank Women Honored.
About 260 bank women ane
guests attended the annual edu
cational dinner of the Women;
Committee. Washington Chapter
American Institute of Banking, a
the Mayfower Hotel last nigh
when many educational honor.
were distributed.
Mrs. Ethel Read White pre-.
sided. Miss Eleanor Omohundrc
received first prize for highesr
grades in the pre-standard group
She is with the Union Trust Co
Other scholarship prizes were
awarded to Miss Eleanor L. Watt
National Metropolitan. and Mis-.
Mary Squires of the Arlington
Trust Co. Graduation certificate.
were presented to Jean T. Reid
Rita Driscoll, Marguerite Detterer
Pitblado Feldman and Peggy M
Young.
The guest speaker was Miss
Anna j. Erste, personnel executive
of the Federal Reserve Bank o1
Cleveland.
Bank Dividends Declared.
Directors of the Bank of Com.
merce & Savings have declared
the regular dividend of $3.50 9
share. payable September 80 tc
stock of record September 90
Thomas j. Groom. president, an
nounced today.
The American Security & Trust
Co. has voted a quarterly dividend
OF 2h%. payable October 10 tc
stockholders of record September
80. according to President Daniel
w. Bell.
Directors of the Second Ma
tional Bank today declared the
regular quarterly dividend of 90
81 per share, payable Sept. 80 tc
stock of record Sept. 81. John A
Reilly announced.
S. Harold Williams, for many
years on the staff of Merrill
Lynch, Pierce. Fenner & Beane
addressed the Civitan Club at a
Mayhower luncheon yesterday on
investments. Investors, he said
should plan their programs with
three objectives in mind, safety
income and appreciation. Then
they should pick the industry
company and type of security best
fitting their needs.
The Airline Traffic Association
has elected Don Campbell, Amer
ican Airlines. president for the
coming year; William Seitz, Cap
ital Airlines, vice president: Rob-
ert Lee, United Airlines, secretary;
Charles Hagedorn, Philippine Air
lines, treasurer.
The membership is composed of
sales and traffic representatives of
airlines with Offices in Washing
ton, and associate members from
newspaper and press publications
in the field of air transport.
Monthly luncheons are held at the
Burlington. 49,.
Women to Study Investments.
The Young Women's Christian
Association is inaugurating a
course in investments. The in
structor will be James B. Pirtle,
member of the staff of Auchin-
Gloss, Parker & Redpath. About
40 women have shown interest in
the course which starts next Mon
day evening.
Washington Loan & Trust Co.
stock sold on the Washington
Stock Exchange yesterday at 339
a share, an increase of two points
and a new high for the year.
Only two shares changed hands.
Garfnckel common and pre-
ferred stocks were particularly ac-
tive on the board yesterday. They
sold at 1874 and 1872, respectively
The most active issues on the
exchange continue to be the Po-
tomac Electric Power shares and
Virginia Electric & Power COM
mon.
The overall stability of the
economy was maintained in Au-
gust with the usual seasonal i'm
provement in most segments from
the low levels of midsummer, the
Office of Business Economics
Commerce Department, reported
today. Construction continued as
a principal area of strength in the
business picture.
Building Permits Increase.
Building permits valuations ir
Washington for the first eight
months of this year totaled $751;
635.529 compared with $685.
sos In the like 1948 period. Dun &,
Branstreet, Inc, reported today.
Washington was sixth in a list
of rs cities having the highest
valuations. The review said per-
NIT valuations in August in the
South Atlantic area were up 8.s
per cent over last year. The August
volume nationally was down
per cent from August, 1948.
d. c. Insurance Sales Soar.
Life insurance sales in the Dis
trict in August scared % per cent
ahead of the same month a year
ago. the Agency Management
Association reported today. Capt.
tai sales totaled $11,429,000
In the first eight months of thi.
year, sales here totaled 500 ,204,.
600. q gain of & per cent over Ia G,