Evening star., 1949-08-14

Hans w. Ire
David Bornet. land, George A.
Didden, jr.. and John A. Reilly,
all top bank officials. the COM
plete personnel of their commits
tees being as follows:
2 Goysrnment rsgulatiSns-A; gai,2i. NJ No Nc
Scott offutt, corcoran Thom, Jr1 w. T
Insurance David Bornet, chairman;
Merchant, c. D. RatclifIe. James B.
Protective - Hans W. Ireland, chair
man; John c. Pyles. jr, vice chairman;
H. l. Reall. Jr.. Fred L. Lutes.
Standardized banking forms-George A.
haut, vice chairman; Frederick H. Cox.
Fred Mckee, Leo j. Naughton.
chairman s. Wam Mler vice as ebai
J. Fontsine % Hail, . A. N. NJ McLachlsn. {.
H. Pope.
d. C. Store Sales Slump.
Department store sales In the
Capital for the week ended August
6 took tumble of IA per cent
from the corresponding week q
year ago. Sales were off 23 per
cent from the preceding week this
year, when trade was exception
ally heavy as shoppers attempted
to beat the new sales tax.
Sales in the four-week period
ending August were up per cent
against declines elsewhere in the
fifth district. The Richmond Re-
serve Bank reported IA per cent
drop from last year and 9 per
cent from the previous week this
year. The trade letdown was
partly due to the heat, merchants
asserted.
Rural Phone Bill Opposed.
The Investment Bankers Asso-
citation of America has come out
against the Hill rural telephone
bill, now being considered by a
Senate committee. The dealers
underwrite and distribute many
telephone securities and declare
funds are ample for the expansion
of sound telephone companies.
The investment bankers claim
it is no time for the Government
to embark on a new rural tele-
phone program just as the admin
istration has again turned to def
cit financing. The cost has been
estimated at $1,000, 100000.
Jones Plans European Trip.
Robert c. Jones, senior partner
in Robert c. Jones & Co., members
of the New York Stock Exchange,
has left Washington on an extern
sive trip to Europe. where he will
study economic and financial con-
ditions in the Netherlands. Bel
GUM. Switzerland, Italy, France
and Great Britain. He will return
in two months.
The Lewis Edwin Ryan Organ
ization of Washington, prepared
and designed the annual report
for 1948 of Capital Airlines which
won the Highest Merit" award
from the Financial World. 1t Is
the third time Capital has cap
tured such honors.
Miss Alma Cunningham, CO.
manager of the Washington Office
of Laidlaw g. Co., is passing a
two-week vacation at Ocean
Grove. N. J.
j. Perry Johnson, general man
ager of the Terminal Refrigerat-
ing g. Warehousing Corp, has
sent out invitations for the famous
annual barbecue to be held at
his home in Brentwood on Sat-
urday, August 27.
Sternberg Takes New Post.
Walter Sternberg, newly ap-
pointed vice president of National
Airlines, assumes his new duties
on September s. He is now an
assistant vice president of Ameri-
can Airlines. Before he joined
American to handle international
traffic relations. he was general
traffice manager of Eastern Air
Lines.
Net sales of Safeway Stores for
the half year. amounting to $5f8.-
702 ,572, showed a decrease of $33,-
838,243 compared with the lke
1948 period. A reduction of i35
stores during the past year &C.
counted for a substantial parG Of
the sales drop as sales per stpre
revealed increases.
Under the guidance of its sta
tistical subcommittee headed ) by
Stephen S. Mason, rate engineer
for the Washington Gas Light
Co., the American Gas Association
has just compiled a new edition
of Gas Facts" official statistical
report Of the gas utility industry.
Dollars and Sense Appears.
The midsummer issue of Dol
lars and Sense, published by Wash
ington Chapter, American Insti-
tute of Banking. is being distrib-
uted in the financial district. The
editor is Virginia M. Magruder.
her assistants being Eleanor ONO
hundro, Rose Royce, Florinda
Sariego, Olen Thompson, aAl
White and William Smith. j
Lee Ross, Commerce Depart
ment, will address the American
Public Relations Association { at
the Sheraton Hotel tomorrow
noon on THE international Trade
Fair"
Columbus q Southern Ohio
Electric in year ended June 80
earned $3,783,174 or 1922 a share
VS.. $3,534,02 or $2.06 in 1948