Evening star., 1949-01-30
Capital Store Sales Soar.

lnguOn 1Or the week ended January
% ran % per cent ahead of the
comparable week year ago, the
Richmond Reserve Bank reported.
Sales were per cent under the week
before. In the four weeks ending
on the same date, sales were II per
cent ahead Of last year.
Sales in January will make a fine
showing for the first month of the
year. In the week ended January 8
sales here were up IA per cent; in
the week ending January Is regis
tered a Is per cent gain, followed by
yesterdays report showing the "a
per cent pickup.
Sales in the 5th district are do
ing well, being up 18 per cent in the
latest week and per cent in the
four weeks.
Bank Pushes Two Branches.
The City Bank expects to move
into the new branch Office building
at 9l9 Pennsylvania avenue NV. on
April /, President c. F. Burton an
nounces. The Office is now at Tenth
street and Pennsylvania avenue.
On the same date the bank plans
to open branch in the Benning
area at $3.50 Minnesota avenue NE.
in a building being erected by the
bank. This will give the bank q
total Of seven offices.
Mr.. Burton says 194S was a peak
year for earnings. He looks for less
income, more expense and higher
taxes in 1949.
Graham on Acacia Board.
Philip L. Graham, publisher Of
the Washington Post, has been elect
ed a director Of the Acacia Mutual
Life Insurance Co., William Mont
gomery, president, announced. Mr..
Graham Is a director of the Amer.
ican Security & Trust Co., National
Press Building and several other or
ganizations.
Mr.. Montgomery also announced
that Lester H. Van Ness has been
appointed planning manager and
George p. Sampson director of con.
servation. Both are veterans with
the company.
The year 194S saw insurance in
force reach $875, ,359 ,6S4, a new rec
ord. Insurance sold in 194s totaled
$115, 5,352, ,2s3.
Pelzman Heads Youth Move,
Richard L. Pelzman, associated
with his father, Fred Pelzman Of
the Fashion Shop, was appointed
chairman of the young mems divi.
sion of the National Retail Clothiers
and Furnishers Association at the
recent convention in New York. The
youth idea was originated by the
younger Pelzman and enthusiast.
cally adopted. The new division is
being organized with the aim of
making the young men more active
in the organization.
Charles A. Eaton, jr., son Of the
Representative, has been elected
vice president of the Fidelity Union
Trust Co., Newark, N. j.
The largest new group insurance
transaction in 1948, announced BY
the Equitable Life Assurance So.
ciety, provides $4,000, 900 Of protec-
ton for 1900 Standard Oil Of Cali.
fornia employees.
Heard in Financial District.
Washington Gas Light IS have
registered their first 1949 sale on
the Washington Stock Exchange,
selling at 121. Terminal Refriger-
ating & Warehousing Is appeared on
the board at 103.
The annual meeting of the Execu-
tive Council of the ABA will be held
on April 24-26 at French Lick, Ind.
District bankers always attend this
meeting, most important Of the year
except the annual convention.
The decrease Of 26 per cent in
operating expenses Of the Capital
Transit Co. in 194S was the result
Of reduction Of 1875 per cent in
car miles and 4.6 per cent In bus
miles as compared with 1947.