Evening star., 1949-01-09
Schrivener New President.

Directors of the Metropolis Build
ing Association have elected John
Scrivener president, to succeed
Harry G. Wilson. who died recently.
'Mr. Scrivener, who has been with
Metropolis since 1915, has been
vice president for many years.
Martin T. Wiegand. former
treasurer, was made vice president,
while Fred G. Dieterich, assistant
treasurer, was elected treasurer.
John G. Scharf, president of the
Prescott Construction Co.. was
elected to the Board of Directors.
Store Stocks Gain Favor.
Garfinckel common sold to the
extent of $50 shares on the WASH
ington Stock Exchange in Deem
ber. Hecht common registered
sales of 600 shares and Woodward
& Lothrop common had 436-share
turnover. Preferred stocks also
were in demand.
Bond sales picked up during the
month. Bank stock trading was
confined to American Security,
Riggs National, Union Trust and
Washington Loan & Trust
Capital Transit sales totaled 779
shares: LanSton, 400: Mergenthaler,
100; Garhnkel AIS preferred, 1924;
Peoples Drug. 253.
Potomac Power common was
again the most active stock, with
an 16,094-share turnover Virginia
Power common stood second with
sales of 2789 shares. Gas Light
common was popular, sales reach
ing 1,O48 shares.
Weeks Store Sales Drop.
Department store sales in WASH
ington for the week ending January
l were off per cent from the COM
parative week year ago, the Rich
mond Reserve Bank reported. Com
pared with the preceding week.
holiday trade week, sales were down
63 per cent. In the four-Week period
ending on January l, sales were 10
per cent above the previous year.
Sales in the Fifth District in the
week under review were off 10 per
cent from last year and 16 per cent
in Baltimore. Sales in the four
weeks were up per cent in the
Fifth District. per cent in Balti-
more and 4 per cent in group Of
other cities, the report said.
Members of the District Bankers
Association have been notified by
President Robert H. Lacey that the
mid-Winter meeting will take place
at the MayfloWer Monday, January
II.
Television Office Opened.
Carl Friedlander general sales
manager of Telespots. Inc, yester-
day announced the opening of a
sales office in Washington in the
Victor Building. AL Sherman, pres
ldent OF Sherman Plan, Inc. has
been named head of the Office which
Will service Washington, Baltimore
and Richmond. Va.
The Home Life Insurance Co, Of
New York has just announced that
the Washington Office finished in
third place for 1948 among all COM
pany offices. Vernon w. Holleman
is manager.
For the full year 1948, department
store sales in the Richmond Reserve
District were 4 per cent above 1947,
the Federal Reserve Board an.
nounced.
The two credit bureaus here re-
port substantial increase in charge
accounts opened in Washington
stores during l948.
Convention Plans Pressed.
The Maryland Bankers Associa-
ton is pushing plans for the annual
convention at Atlantic City. Nav 9
and 10. Bankers near the District
are being urged to make reservations
at the Traymore now.
While the District Bankers Asso-
citation has made no convention an
nouncement yet. another visit to the
Greenbrier at White Sulphur seems
likely.
Many Washington bankers are
planning to attend the ABA Trust
Conference In New York in Febru-
ary.
Heard in Financial District.
The annual meeting of the Indus
trial Bank will take place January
Is at 5 pm. at the Twelfth Street
Branch of the YMCA, 1916 Twelfth
street NV.
Mergenthaler Linotype is dis
tributing new 2O0-page book con-
tanning 130 faces of type.
The Prince Georges Bank & Trust
Co. reports deposits of $21, ,484,8l8 as
of December 81, 1948.