Evening star., 1949-01-31
Earnings Maintained
By Washington Loan
& Trust Co. in 1948
Rv Edward c. Stone

Net earnings Of the Washington
Loan e. Trust Co. amounted to
Sl73,3s5 in 1948, approximately the
same as in 1947, Alfred H. Lawson,
president, says in his annual report
being distributed in the financial
district.
The company transferred from
net earnings to a fund for future
loan losses, $44,022, making sub
stantial savings in taxes for 1948,
and leaving $l29,363 available for
dividends. The company paid $12
per share in dividends.
Total loans showed an increase
of more than 40 per cent over 1947,
loans amounting to $14,295, ,064
against S10,128,926 a year ago, an
increase of s4,166.138. Deposits end
ed the year at s45,667297, a de-
crease of S4,723,398, which included
a reduction of S38,l25 in the War
Loan Treasury account.
Safe deposit facilities were ex-
pended. the West End Office adding
IA boxes. Assets administered by
the Trust Department reached the
highest total in the company's his
tory, and real estate loans increased
substantially, Mr.. Lawson said.
Investment Firms Active.
According to the Investment
Dealers Digest, Auchincloss, Parker
& Redpath participated to the ex-
tent of $S,525,000 in q different
issues offered the public during
1948, leading the Washington in
vestment houses.
Johnston. Lemon g. Co. took part
in 80 different underwritings, their
participation involving S5,932 ,000
Next came Folger, Nolan & Co.,
with % participations involving S.
sol 900.
Mackall g. Coe participations to-
tailed $753,000; Ferris g. Co., $3.50 +
600; Robert C. Jones e. Co., s578,-
900: Goodwin e. Olds, 1884 600;
Robinson, Rohrbaugh Lukins, 1884
900. Johnston, Lemon & Co. was
rated 54th among 73 firms partici-
pating in 30 or more underwritings.
Savings at New High Mark.
More money was saved per FAM
lily in 1948 than ever before, and
more families saved than at any
time since 1882. according to
report by the United States Saw
ings and Loan League covering
building and loan associations. The
average account at the year-end
was SLIPS.
During 1948 the number of persons
having accounts increased S per
cent and the amount of savings ac-
cumulated in the system went up
10 per cent. The associations now
hold 25o,0O00O0 in savings, an
all-time record. the report said.
January Clearings Decline.
Clearings in Washington banks
In January showed one Of the few
declines in many months. January
clearings totaled 1896 SAG, ,165 in COM
parison with $500, $50 588 in January
a year ago, a decrease of $3,504, ,423
January clearings were ahead of
January. 1s47, when cancelled
checks totaled s282,970821, George
H. Bright, manager of the Wash
ington Clearing House. said.
Bankers gave the legal holiday for
Inauguration as the probable cause
of the small decrease over last Jan
uary. A holiday usually make a
difference of about $4,000, 900 In
clearings.9 = s..s
Promoted BY Store.
Mrs. Lois r. Wannan has been
promoted at Woodward & Lothrop's
department store from assistant to
home furnishings co-ordinator, ef-
fective today She joined the Arm
in June, 1916, in the decorating
studios and is graduate of the
University of Maryland where she
majored in interior design. Mrs.
Wannan is a native of Washington.