Evening star., 1949-10-25

Two weeks ago the Hilton Ho-
tells Corp, which controls the
Mayfiower Hotel here, obtained
controlling interest in the Wal
dorf-Astoria Corp. which owns
and operates the famous Gotham
hostelry.
Conrad N. Hilton was elected a
director and president of the cor
poration. Seven other directors
were also named to the board.
Black Stresses India Loans.
Millions in loans made to India
by the World Bank were reviewed
and explained by Eugene R.
Black, president, in an address
before the New York Savings Bank
Association yesterday.
Large sums have been loaned
for farm machinery. locomotives,
irrigation, tractors to clear unused
lands, dams, power stations and
other projects vital to 1ndia's
very existence, Mr.. Black said.
He feels that the World Bank Is
doing a most useful job with the
funds which have been loaned
only after full investigation. He
talked to the bankers on the Nieuw
Amsterdam on a cruise to Nassau.
District Bankers Honored.
Three Washington bankers were
honored today at the convention
of the National Association of
Bank Auditors and Controllers IN
Philadelphia.
M. S. Yeatman. auditor, Ham
ilton National. was appointed a
consultant member of the Ac-
counting for Management and
Supervisory Authorities Commit
tee; Gerald E. Keene. assistant
vice president, Second National,
was named to the National Or
ganization Committee to serve as
vice president for Washington,
and E. R. Wilson, controller. Bank
of Commerce & Savings, was ap-
pointed to the Committee on OPP
Grating Methods and Procedures
Smaller Banks.
Record Attendance Seen.
More than 400 members of the
federation of Businessmen'S AS
sociations were expected to attend
the annual installation at the
Mayhower Hotel tomorrow night
when jerome B. Mckee, legisla-
tive chairman of the District OF
Columbia American Legion, Will
be installed as president.
The other new officers will be
DR.. Leo F. Deigelmann, first vice
president; Leo Hessler, second vice
president. and Louis Fricke. Sec
retary. The guest speaker will be
Calvin D. Johnson, former Repub-
lican Representative from Illinois.
The District Building and Loan
League will elect and install OFF,
GERS at the annual dinner meet
ing this evening at the Mayflower.
Fred A. Smith being slated for
the presidents chair.
Investment Dealers to Meet.
Investment dealers from this
territory will attend the annual
meeting of the Southeastern group
of the Investment Bankers Asso-
citation at the Metropolitan Club
tomorrow afternoon. James H.
Lemon of Johnston, Lemon & Co.,
is retiring chairman.
John A. Reilly. president OF the
Second National Bank, reports
that many patrons have asked to
open accounts in the new Christ
mas Savings Club a whole month
before it is due to start.
j. Hicks Baldwin, general agent.
New England Mutual, was guest
speaker at the October meeting OF
the Hagerstown Underwriters AS
sociation.
United Air Lines voted the
usual quarterly dividend OF SLIPS
per share on the 412% preferred,
payable December l to stock of
record November l8.
Southern's Earnings Off.
Southern Railways net income
In September totaled 5000 300
compared with s2,333,o54 in Sep
tember q year ago. the balance
after charges amounting to ST.
15s,13o VS.. s1,379,9o3 in 194S.
Net operating income for the
nine months of 1949 was s14,825,-
936 against $21,553,003 in 194S,
leaving a balance after charges of
s7,043,621 compared with $l3,-
769,718 last year.