Evening star., 1950-05-22
FD|c Reports Loans
OF Insured Banks
Al New High Mark
by Edword G. Stone

By Edword c. Stone
Loans Of all insured banks in
the United States reached O new
high OF nearly $50 billion at the
end Of 1949, Chairman Maple T.
Harl Of the Federal Deposit In
surance Corp. announced today.
Commercial and industrial loans
fell of, but real estate loans in
creased about SIS billion and
loans to finance the purchase Of
automobiles and semidurable
items advanced more than q bill
lion to Offset other declines. Loans
to carry securities also increased.
Assets reached an all-time peak
of $3.50 billion, an increase Of "a
billion during 194s. For the first
time since the end Of the war
holdings of United States Govern
ment obligations were higher than
at the end Of the preceding year.
Deposits increased So billion to
$l65 billion, with q gain Of about
3 one billion each in deposits of
governmental units and in private
time deposits. Bank capital ex-
ceeded $13 billion.
Mr.. Harl declared the record
Of accomplishments showed the
soundness Of the dual banking sys-
tenn. He added that insured banks
are starting their seventh year
without a failure.
Woodward Dividend Voted.
Directors Of Woodward & 10th
rop have declared the usual
dividend Of SO cents per share on
the common stock and $l.25 per
share on the preferred. both pay
able June % to stockholders Of
record June 8, Andrew Parker.
president, announced today.
Knott Hotels Corp. of which the
Houston Hotel in Washington is
one Of the 26 units. today reported
net earnings Of $183.110 for the
first three months Of 1850. equal
to SO cents q share on the stock.
against 1921 ,260. or 81 cents a
share In the like 1949 period.
Shares were increased from Ill.,
s33 to 343, ,666 on March 20.
Six Governors on Slate.
The District of Columbia 1nsti-
tute of Certified Public Account
ants will have a dinner meeting
and outing at the Indian Spring
Country Club tomorrow. Three
governors are to be elected from
six members already nominated,
Paul ]. Foley. Joseph K. Motkya,
Nathan Sinrod. M. E. Parkinson,
Eugene c. Meyer and Ben c.
White.
Nine members from the Inter-
national Business Machines Corp
office are attending sales honor
session at Endicott, N. Y. Those
attending are r. Bruce. L. H. Hill
r. A. Hiney, G.. H. Horsnell, A. J,
Houpert, G. K. Lyons. L. X. Nc
Intyre, A. Pfaff and g. W.
Vaughan.
T. Coleman Andrews. Of Rich
mond, has been nominated to be
president of the American Insti-
tute of Accountants. at the Boston
meeting In october. During the
war he organized and headed the
CORPORATION audits division OF the
General Accounting Office here.
Rights Expire This Week.
Potomac Electric rights to buy
the new common stock at $14.50
per share expire next Thursday.
Trading on the Washington Stock
Exchange opened the week at a
very lively pace. sales to date hav-
ing far exceeded those Of any
other rights ever traded on the
board.
Francis P. Whitehair. attorney
of Washington, New York and
Florida, and well-known author.
urged women to take greater in
terest in public affairs, in his ad-
dress Saturday evening before the
Association of Bank Women at
the Mayflower.
Since women control 80 per cent
of the Nations wealth, they GER
tainly should take far greater in
terest in government and finance,
he declared. He insists that a far
greater number of women should
occupy seats In the State legisla-
tive assemblies and be far more
active in national election cam
paignS.
League Leaders to Meet.
A joint meeting of the Executive
Council of the D. c. Building and
Loan League with all league men,
bers will be held tomorrow at
the Mayflower. Featured on the
program will be a showing Of the
Treasury Department film, Lets
Sell INDEPENDENCE" and q talk by
Admiral Richard P. Glass. The
meeting will start at 1880.
Appointment Of w. e. Rachels
to the position Of public relations
representative for the Seabearc
Air Line Railroad, with headquar-
ters at Norfolk, Va, has beer
announced by Leigh r. Powell, jr.
president of the road.
Capital Airlines officials and
staff will give a reception for press
and radio next Wednesday after
noon at the National Press Club
President slim" Carmichael viii
head the receiving line.
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