Evening star. [volume] (Washington, D.C.) 1854-1972, 1949-12-29
Hecht Co. Announces
Regular Dividends on
Preferred, Common
By Edward e. Stone

rGlClICuy NVllIllVu
BY Edword c. Stone
Directors of the Hecht Co. have
declared the regular quarterly
dividend of 93A cents per share
pn the 3A %. cumulative preferred
stock and 40 cents per share on
The common. both payable jan
nary 81 to stockholders of record
January 8.
With this payment, stockhold-
ers will receive total dividends for
the fiscal year ending January 81.
1850. Of 1918 on the preferred
stock and $l.60 a share on the
common.
Hecht common stock sold on
the Washington Stock Exchange
today at $25 a share.
Riggs Bank Stock at Peak.
Riggs National Bank stock sold
ut $500 a share on the Washington
Stock Exchange yesterday, the
years highest price and jump
of 10 full points since the last
previous transfer. The final bid
was $3.50. with $375 asked, an un-
usually wide spread. The bank is
understood to have enjoyed an
exceptionally prosperous year.
Milo F.. Turner, member OF
Washington Chapter, National AS
tociation of Cost Accountants,
leaves here tomorrow for a 90-day
stay In Europe, where he will con-
duct classes for the armed forces
In preparing Federal income tax
returns. He will visit Paris, Ber-
lin. Frankfurt and other cities.
A new concern. the Kaufmann-
Washington Co., opened for bust
ness today at 1915 Kenilworth
street NE. The firm will serve as
wholesale distributors Of Decca
records. refrigerators. space and
hot-water heaters and sewing ma
shines. The company occupies a
modern two-story building erected
IN 1913. The property includes a
parking area and railroad siding.
Bank Loans Up Slightly.
The Richmond Reserve Bank
reported today that commercial
loans by member banks In Wash
lngton scored a small advance in
the week ended December 81 over
the preceding week. The gain
was 1868 900.
Investments were OF slightly
during the week. as were total
assets. Assets of $999, 800, 900
compared with $1.006,272 in the
previous week.
Today's report showed small
drop in aggregate demand de-
posits and practically no change
In savings deposits.
Exchange Open Saturday.
The Washington Stock Ex-
change will be open Saturday as
the New York Stock Exchange
also will be in session. The big
exchange closed on the day be-
fore Christmas but refused to
close before New Years Day. Both
exchanges. however. will be closed
Monday for the holiday.
Washington banks and building
and loan associations will be closed
on Saturday as usual and also on
Monday, making a three-day holi-
day. The banks will be open late
tomorrow afternoon. -
John F. Gustafson. who has been
associated for the past two years
with the Atomic Energy Commits
sion in Washington. has been ap-
pointed as consulting geologist to
the M. A. Hanna Co., effective
January /.
Statler Makes Promotions.
James P. Duchscherer has been
placed in charge of the accounting
department of the Hotels Statler
Co., Inc. it was announced today.
He will be in the New York Office
and have charge Of tax returns
and expense control. He is a Cor
nell graduate and has been with
the company since 1886.
Richard Klarfeld. a member of
the treasurer's staff, will be a
specialist in expense control and
operations Standardization. He
started with Statler as a field
auditor IN 1887. He graduated from
Harvard In 1929.
The Chrysler Corp. announces
that the 1850 line Of Plymouth
cars win be shown for Washington
dealers at the Statler on January
s. The cars will also be shown
to the public. At a luncheon off,
Gals viii talk about features OF
the new cars and the automobile
outlook. ~..
George e. Conner. president OF
the First Federal Savings g. Loan
Association of Bristol, Va, has beer
elected q director Of the Federal
Home Loan Bank of Winston.
Salem, to. serve two years, the
Home Loan Bank Board an
nounced. Mr.. Conner was chosen
in q recent run-off election to rep
resent medium sized associations
within the banks membership.
Capital Transit As Active. ..
Capital Transit As figured in
sales Of $4,000. $1,000 and $4,000
on the Washington Stock Ex-
change today, all at the strong
price Of 1914.
These are the bonds In which
there was a record $4,000 turn
over last week. Today's closing
bid was 90 and 90 asked.
Chicago Grain