Evening star., 1950-10-01

Bath. Me-. grad
uate of Dart Il ~
mouth College
and Harvard
Law School, his Mr.. rrott
first job was with the American
Telephone Co. in the New York
area. Mr.. Trott entered banking
in Providence in 1919, trust work
gripping his attention.
He has served on the Economic
Policy Commission of the ABA.
also on Federal legislation and
been very active in civic affairs.
Big Phone Outlay Voted.
Expenditure of 81, ,163, 900 for i'm
Iprovement and expansion of tele-
phone facilities in Washington
have been voted by the directors
of the Chesapeake & Potomac
Telephone Co.
The largest sum, 81 1892 900, will
be expended for a great number
of small projects in the Capital
during the fourth of 1850.
The board approved use Of $780,
900 for expansion of cable services
in the downtown and Anacostia
areas.
Loan Concerns to Merge.
Effective tomorrow. the En-
ployees, Loan Co. Offices at 1909
Rhode Island avenue, Mount Raj
nier, and 1886 Eastern avenue,
Silver Spring, will be merged with
the Seaboard Finance Co., H. c.
Burkhart, manager, announced
yesterday. Seaboard is fourth
largest chain of small loan COM
panies in the Nation, he said.
There will be no change in per-
sonnel in the two local offices. The
merger gives Seaboard 1913 offices
serving % States. Employees.
Finance Co. has Offices in New
York and New Jersey, as well as
in Maryland.
Credit Rules Curb Sales.
Regulation w. credit-restrict-
ing measure, slowed up sales in
Washington department stores for
the week ended September % to
only 3 per cent above the compar-
able week a year ago, the Rich
mond Bank reported. Sales were
IL per cent below the previous
week this year.
Washington store sales in the
preceding week, ended September
Is. were % per cent over last year
and up % per cent over the pre-
vious week in 1850. Sales in the
week under review were up 5 per
cent in the Fifth District over
1948, but were off II per cent from
the earlier week this year.
Estes Heads Auditors.
O'Ferrell Estes, general auditor
of Capital Arlines, has been
elected president of Washington
Chapter, Institute of Internal Au-
ditors. Other new officers are
George A. Lee, Potomac Electric
Power Co., vice president; j. o. B.
Rowland. Government Services.
treasurer; D. j. Harrill, Agricul-
ture Department., secretary, and
Ralph P. Aten, C. & P. Telephone
Co., governor.
Ernest S. Johnston Advertising
Agency announced yesterday that
Jerome A. Collins of Washington
has joined the staff. He is pub
Usher of Veritas News Alliance,
writer for the Worcester Telegram
and formerly worked on the
Washington Post.
Morris Shipley has been named
assistant to the vice president in
the Washington Office Of American
Airlines.
Bank Officers Promoted.
Two staff officers of the Federal
Reserve Bank of Richmond have
been promoted to assistant CASH
iers, bank officials announced yes
terday. They are James w. Todd,
jr.. senior representative in the
bank and public relations depart
ment, and John L. Nosker, senior
bank examiner.
Bertram G. Dienelt. jr., certified
public accountant and lecturer on
cost accounting, will discuss La
bor-Wage Systems" for members
of the Washington chapter, Ma
tional Association Of Cost Ac-
countants, tomorrow evening at
the Willard Hotel.
Record Attendance Seen.
The 58th annual convention Of
the United States Savings and
Loan League, opening in WASH
ington on November 81. is now
to be the largest yet held,
2.200 building and loan leaders
having registered.
Leaders in finance, Government
officials and housing experts are
to take important parts in the
program. Fred A. Smith. head Of
the District Building and Loan
League, and his associates will be
hosts.
Effective today. Washington Of
fees of American Airlines will be
located at 918 Sixteenth street
NV. These will be administrative
offices, but the ticket offices will
remain in the Willard and Statler
Hotels.
Thousands of American Tele-
phone & Telegraph checks were
received here yesterday in pay
ment of the $2.25 quarterly divi-
dend.
Potomac Electric Power common
again topped the weeks trading
on the Washington Stock Ex-
change, great interest centering in
the statement that the company
considers it a moral obligation to
keep the dividend at 80 cents a
year. The stock now Is yielding Z
per cent.