Evening star., 1950-05-23

1919, dItSIlUeu 1IlIllLy NOll6Se
Law School and later studied at
the Sorbonne in Paris.
He became general solicitor at
Washington for the road in 1880
and general counsel in 1947. Mr..
Alderman has handled many i'm
portant cases in the Supreme
Court for the Southern and the
railroad industry.
He served overseas as a cap
tain in World War 1 and in the
Second World War participated
in the prosecution of top Nazi
war criminals at Nuremberg. He
was awarded special honors by
the French government in l94S
for his aid to French relief.
New Home Opens To-Day.
The Government Employees In
su-ence Co. has invited more than
1900 business and financial lead
ers to a reception at 4:30 this
afte-nc IN in its new quarters at
14th and L streets NV. The
buildirg has been changed to meet
the needs of the insurance busi-
ness and is the last word in con-
venience and attractiveness. The
modernization has cost the COM
pany 1925. 900, following purchase
OF the building for $525.000.
The Public Utilities Commission
has given conditional approval to
the Washington Gas Light Co. to
issue and sell an additional $4,000
shares of preferred stock. Rights
to common stockholders will al
low subscription to one new share
for every 20 shares of common
now held. The warrants expire on
June 13. Proceeds will go for ex-
pansion.
Agents Elect Hoffman.
The District of Columbia Asso-
citation Of Insurance Agents has
elected v. Manning Hoffman, of
Howard & Hoffman, president for
the coming year: Henry G. Dud-
ley, first vice president; Henry C.
Young. second vice president; Vic
tor o. Schinnerer. state national
director: William A. d'Espard,
secretary and George s. Denton,
treasurer.
Six trustees were elected, John
H. Pumphrey. the retiring presi-
dent; Robert S. Campbell, Henry
King. George Howard, Robert
Burns and w. Perry Early. Yearly
reports showed a substantial gain
in membership. -<.. .....
Transit in Lively Demand.
Capital Transit stock, possibly
overlooked because of the great
activity in Potomac Electric Power
rights, has been in strong demand
on the Washington Stock Ex-
change recently. The stock has
moved up to 80 following a mod
est slump.
The Public Utilities Commission
has approved the sale of SIS mil
lion Chesapeake g. Potomac Tele-
phone capital stock to the Ameri-
can Telegraph & Telephone Co.
to pay off a debt to the parent
company.
Carl H. Ellingson, president of
the First Federal Savings & Loan
Association, will address the Ken
lucky Building and Loan Leagues S
annual convention tomorrow on
Back to Basic Principles"
Savings in 1949 Analyzed,
The United States Savings and
Loan League reports that building
and loan associations showed the
largest increase in savings of any
type Of thrift institutions in 1949.
These institutions handled So per
cent Of the years savings. Mu-
tual savings banks attracted SO
per cent while United States Saw
ings Bonds and postal savings ac-
counted for SO per cent. Banks
got the remainder. the report said.
A new book. The Inside Story
Of the Stock Exchange" has just
been published by B. c. Forbes g.
Sons. The author. Humphrey B.
Neill, points to the public's in
creased interest in securities, pic
lures the workings of the market.
discusses old-time corners, gives a
chapter to William c. Durant and
has lot to say about the enmity
between Morgan and Fifty Mil
lion" Gates.
Ten rival banking groups are
bidding for the SO million sewer
bonds being awarded tomorrow
by Fairfax County, Va. The
bonds will mature from July l.,
1854, through July /, 1898. The
proceeds will be used for sewer
development.
c. j. Gockeler of Ventnor, N. j.,
visited the Washington Stock
Exchange today. He is a former
president of the exchange and
was an active Washington banker
for IS years.