Evening star., 1950-06-20
D. {. Building Permits
Rank 18Th Duringk May,
New u. ). Records Set
By Edword e. Stone

By Edword c. Stone
Washington stood 18th among
the 25 cities having the largesr
building permit valuation in the
first five months of 1850, Dun &
Bradstreet announced today
Building permits in the Distric1
were valued at 9,041 1873 in com.
parison with $19,743.092 a veal
ago.
New York topped the list, fol.
lowed by Los Angeles, Detroit anc
Chicago. Washington stood slight.
ly under st. Louis and Milwaukee
The percentage increases over tht
like 1949 period were very sharp
while permit volume for May alone
was also far ahead of May a yeal
ago.
Permits issued in 215 cities il
May we're valued at an all-timt
high of $568, ,904 ,044 VS.. $445, ,978,.
$50 in the previous month anc
$3.50, ,581, 1878 in the same 1874!
month. The total for five 1881
months also set a record of $2,.
141 ,897,093 VS.. $1,471 ,054, ,080 9
year earlier, the statistical agenc!
reported.
LOchiel Named Director.
Raymond G. Lochiel, head o.
Washington Chapter, was electec
a director of the National Asso.
citation of Cost Accountants al
the New York convention today
He is vice president and treas.
urer of Capital Airlines.
Arthur H. Brandt, native oi
Washington. who has held impor.
tant sales promotion positions
here and in Baltimore, has beer
made general sales manager oi
the radio and television divisions
of the General Electric Co. He
has been with the company since
1897.
Avery McBee. former Baltimore
Sun feature writer and later with
the Washington Herald as Sunday
editor and the Glen L. Martin
Co., has been appointed vice pres
ident of Hill & Knowlton, public
relations firm.
Claude Miller of the American
Security 81 Trust Co. is slated tc
be elected chairman of the Safe
Deposit Section of the District
Bankers Association at tonight's
annual dinner meeting at the
Mayflower Hotel.
Virginia Phones Total 100000.
In 1902 there were $4,000 tele-
phones in Virginia. Since ther
the number has jumped to 660, 900
according to Donald r. Belcher
treasurer of the American Tele-
phone & Telegraph Co.
In talking to Virginia bankers
at Hot Springs recently he sale
the Bell System is now owned by
100000 stockholders, representing
about one in every so United
States families.
Since the end of the war the
Bell System has installed IL mil.
lion phones, which required $3.s
billion new capital.
Suburban Votes Dividend.
Directors of the Suburban Ma
tional Bank have declared a 60
cent dividend on its $40 par value
stock, payable June 80 to stock
of record June 20. BY this action
the board hopes to establish the
annual dividend rate of IL per
cent on the stock, Fred L. Lutes.
president. stated.
Vincent A. Sheehy, jr., has &C
quired ownership of Handley
Ford, Inc, at 3730 Georgia ave-
hue NV. Mr.. Sheehy for several
years has been a partner and
general manager of Banning &
Sheehy, Dodge-Plymouth dealers
in Hyattsville.
Five representatives of the
Washington Office of the Mutual
Benefit Life Insurance Co. of New
ark, will attend the national con-
vention at Atlantic City next week
General Agent C. Carney Smith
will be chairman of the June %
session and George Naramore will
talk on mortgage insurance.
E. F. Hutton & Co. is distribute
Ing a market review covering so
issues, 20 of which are selling be-
low $40 a share.
Trading Lively on Exchange,
Today's session of the Washing
ton Stock Exchange was one of
the busiest in many months.
Nearly all the store stocks and
several bonds appeared on the
board at recent price levels.
American Security & Trust
came out at 80, Gas common at
1854. Potomac Power common at
1879, Virginia Electric & Power
common at 20l2 and Woodward &
Lothrop common at 3334.
1t was announced today that
the 10000 additional shares of
Washington Gas Light preferred
stock have been sold by the un-
derwriting group.
Insurance Sales Climb.
Life insurance sales in Wash
ington in May totaled $11,774, 900,
an upturn of 9 per cent over the
same month a year ago, it was
reported from Hartford today.
In the first five months of this
year sales reached $52,618,OOO,
practically even with the total of
new policies written in the. like
1949 period.