Evening star., 1950-02-15
DC. Demand Deposits
Register Increase Of
S14,4O4,0O0 in Week
By Edword G. Stone

0eAAAAo bNSA ~ "a ot@AAA "a 1BOoN
in the week ended February s, the
Richmond Reserve Bank reported
today. Time deposits. which have
been almost static. advanced ST.
$4,000 in the same period.
Commercial loans were slightly
under a week earlier while real
estate loans were up slightly
Treasury bills we're in lively de-
mand, the total jumping from
$45,738,000 to $59,221 900. Total
Investments registered a weekly
gain of $14,230,0O0.
Due to these advances, tota,
assets disclosed a substantial
pickup of $17,552,oOO, the report
stated.
Baltz Selection Lauded.
Executives in Washington.
building and loan associations are
highly pleased over the appoint
ment by Treasury Secretary Sny.
der of Edward c. Baltz as chair
man of the Advisory Committee
of the District of Columbia Savings
Bond Division.
Mr.. Baltz, who is president ot
the Perpetual Building Association
largest in the United States, has
used large amount of the firms
advertising in boosting Treasury
Savings Bonds, has given radio
time and has had his staff keer
the bonds prominently before al
patrons. Mr.. Baltz also has done
brilliant work as chairman of the
District Building and Loan
Leagues Bond Committee.
Mr.. Baltz succeeds Thomas j
Groom, president of the Bank OF
Commerce & Savings, who has
been a most efficient chairman
since January, 1948. Mr.. Groom
has given a great deal of time and
energy to the drives and secured
the aid of host of people active
in finance.
Counsel Firm Opens Here.
John w. Davidge, jr., who has
been affiliated with the trust de-
partment of the Fidelity-Philadel-
phia Trust Co., and Van Cleef
Jordan & Wood, investment coun-
sci, IA Wall street, New York, to-
day announced formation of an in
vestment firm in Washington un-
der the title of Van Cleef, Jordan
Wood g. Dayidge, Inc. The new
firm opened offices today in the
Union Trust Building.
New York members of the firm
have been active in the invest
ment counsel field for 20 years
their clients including individual
investors, banks, fire and life in
surance companies and endow.
mentS.
County Sets Bond Record.
Fred L. Lutes, Montgomery
County chairman, reports E bono
sales of $2,322,3 ,367 for 1949 com.
pared with E. investments oi
$1,960,660 in 1948, a 1874 per cent
increase. Montgomery stand.
fourth among all the counties ir
Maryland. Calvert County topped
the list with a 81 per cent in
crease.
Montgomery people also in
creased purchases of G bonds dur
ing the year. E bond investments
In the whole State increased %
per cent in 1o49, exceeding the
national average, Mr.. Lutes said.
United States Steel Corp. hold
lngs of common stock in the Dis
trict of Columbia on December
81 totaled 2o3,o85 shares, COM
pared with 212,520 six months
earlier. Preferred stock holdings
were also slightly lower.
Credit Institute to Meet.
The third Credit Union Insti-
tute, sponsored by the District of
Columbia Credit Union League,
will be held at Wilson Teachers
College next Saturday. A pro-
gram to benefit all credit union
officials, committeeman and men,
bers has been planned by the in
stitute committee under the chair
manship of Paul r. Ashbrook.
Highlights of the program in
clude discussions of automobile
financing, streamlining credit
union operations and solving de-
linquency problems, a luncheon
address by Claude r. Orchard, the
head Of the Federal Credit Union
Bureau, Federal Security Agency
The sessions open at 10 am.
Gas Sales Above 1949.
Sales of the Washington Ga.
Light Co. in January turned UP.
ward, totaling 20,441,134 therm,
against 19,620,084 a year ago, al
Increase of 817,050 therms or 4.1t
per cent, officials reported today.
Sixty members of the Auditor,
Section of the District Bankers
Association will have a joint ses.
sion with the Baltimore auditor,
and controllers at the Sheraton.
Belvedere Hotel tomorrow. Tht
delegation will leave on a specia
Pennsylvania coach at 5 pm.
Perry Walders, commercial man.
ager of WQQW, has announced hi.
resignation to join WTTG CTV) a.
a sales executive. Mr.. Walders ha.
been with WQQW since October
1947. He assumes his new post or
March 1st.
A new 450-page truck reference
book, published by the Nationa
Automobile Dealers Used Ca
Guide Co.. has just been distribut.
ed here. The book covers data OF
all trucks made since 1910 such al
model descriptions, prices, seria
and motor number locations, bod,
descriptions, weights, tire sizes
wheel bases and tonnage ratings
Dividends Announced
NEW YORK. Feb. IS R.-pividend
declared: Pc Stock of PAY
OF inl nl&i