Evening star., 1950-07-18

U45 was reg 3SssE$
istered since
the start of the c. Z. Ksfauver
year. This upturA was exceeded
in the report on savings shares,
the total of $14,749,644 having
accounted for a gain of $751;
122 for the first half year.
Loans totaled $14,643.715, an
increase Of $745,3 1888 since January
/, while surplus and reserves of
$1,346,797 indicated comparable
gain.
Mr.. Kefauver announced that
Columbia Federal had paid divi-
dends totaling $165, ,051.02 as of
June 80, a substantial increase"
over the same period a year ago,
he explained, by reason of the
increase authorized in the inter-
est rate. Columbia Federal was
established in 1907.
Opposes Speculative Loans.
F. Raymond Peterson, president
of the American Bankers Associ-
alton. last night called upon the
Nations banks to guard against
loans to consumers and business
men Of speculative nature that
might increase ''paricky buying" I"
which, he said. is under way in
some areas. His request was be-
ing sent to all banks.
Bank credit should not be used
to stimulate an inf1ationary ten
dency nor to finance speculative
purchases" the ABA president
said. "Present-day events make
it necessary for every bank to re-
examine it's policies in this re-
gard"
There seems to be a widespread
wave of consumer buying" in some
areas, he warned. This covers
all sorts of items, such as tires,
automobiles, nylon hose and ap-
plianceS, in fact nearly every type
of consumer goods" Mr.. Peterson
said. This has had it's effect on
retailers and distributors to the
extent that they have rapidly
stepped up their purchases and
are making substantial forward
commitments"
Mr.. Peterson said there was un-
doubtedly some speculation in the
heavy purchases of retailers and
distributors. THE chain reaction
extends to manufacturers of pro-
ducers' goods as well as consumer
goods" he said.
Heads Brokerage Work.
j. D. Marsh 81 Associates, 1882
M street NV, announced today
the appointment of Catherine
Holden Atkinson as manager of
their brokerage department.
Mrs. Atkinson was associated
formerly with the Werber ,Insur-
ance Agency as officer manager
handling preliminary details and
serving of pension plans. She is a
Washington resident and attended
Akron University and the Marjory
Webster School in this city.
Lawrence H. Sprouse, district
manager of the Equitable Life
Insurance Society. has just won
honors as Equitable's leading dis
trict manager for assured home
ownership production for the first
six months of this year. An
nouncement was made today by
Claude A. Cook, agency manager
in Washington. Mr.. Sprouse has
been with Equitable since Septem-
Der, 1912, and district manager
since November, 1945. He lives
in Alexandria.
The American Trucking Associ-
ations. Inc, 1924 Sixteenth street
NV, has a new assistant public
relations director, Kenneth M.
Russell, who Joined the staff last
April. Before then he was as
sistant to the president and board
chairman of the Newport Steel
Corp.
D. Bobb Slattery, vice president,
has been placed in charge of the
Penn Mutual Life Insurance Co.'s
agency affairs. having succeeded
Eric G. johnson. resigned. it was
announced from the Philadelphia
headquarters. He is director,
also, of the Life Insurance Agency
Management Association and is
chairman of its 1850 Annual Meet
ing Committee.
First Federal Grows.
First Federal Savings and Loan
Association had $2,263, 1872 in sur
plus and reserves at the end Of
the fiscal year June 80 and total
assets of 31,243,149.
First Federal is sponsoring a
special honor roll program on Sta
ton WRC at 7:45 pm. Thursday.
The broadcast will tell the story
of the founding, development and
er,~nu,fh ~ %1aa o,s0oy, ;na &;a.