Evening star., 1950-06-07
District Bank Deposits
Rise S11,O83,OOO in
Week Ending May 81
By Edword c. Stone

Washington banks registered an
upswing of 1893. 900 in demand
deposits in the week ending May
81, compared with the previous
week, the Richmond Reserve
Bank reported today. Deposits
reached $7S6. .773,000.
Total loans were up slightly,
with small advances in CONNER
cial and real estate loans and bet
ter gains in other loans. Total
investments revealed more activ-
ity in Treasury bills and Treasury
certificates.
Total assets of $1,033, $50, 900
were up $685., 900 for the week.
the report said.
Bankers Depart Today.
About $50 members of the Dis
trict Bankers Association and
guests were to board a Chesapeake
g. Ohio special train at 4 o'clock
this afternoon for the four-day
convention opening tomorrow at
the Greenbrier, White Sulphur
Springs, w. Va.
The train will be in charge of
James B. Edmunds, veteran C. g.
o. passenger agent, who has &C
companied every bankers party to
White Sulphur and Hot Springs
for 25 years.
The business sessions open to-
morrow with addresses by Pres
ident George M. Fisher, Joseph
M. Dodge, Detroit banker. and
Stephen o. Porter, representing
the Institute of Banking.
Loan Experts on Outing.
More than $50 members and
friends of the District Building
and Loan League attended the
annual outing Monday at the
Prince Georges Golf and Coun-
try Club.
Top officials in the Federal
Home Loan Bank System and
members of the Maryland Asso-
citation in Baltimore were among
40 guests. President Fred A.
Smith presided, the entertainment
program being in charge of Ed
ward r. Early.
Edward Hotze and Edward L.
McAleer tied for golf honors in
the afternoon match.
Motor Tonnage Increases.
The volume of intercity tonnage
transported by Glass l motor car
riers climbed 19 per cent in the
first quarter of 1850 above the VOL
ume hauled in 1949, an all-time
first quarter record, according to
American Trucking Associations,
Inc.
Max E. Glazer, president of
Saitz Bros, Inc, announced to-
day that Charles C. Norfleet and
Milton Barren have been added to
the F street stores staff. Both
have long been connected with
Washington stores.
American Wholesalers, Fifth and
w streets NV, has been ap-
pointed exclusive distributors for
Du Mont television receivers in
the Washington area, it is an
nounced by Ernest A. Marx, gen.
eral manager, receiver sales di-
vision, Allen B. Du Mont Labora-
tories, Inc
Laidlaw & Co. is distributing
study of growth prospects and
other facts on the American Tele-
phone 81 Telegraph Co.
Business Act Reviewed.
D. j. Needham. general counsel
of the American Bankers ASsoci-
alton, has sent to State Secretaries
a detailed digest of the proposed
Small Business Act of 1880" 1t
is most comprehensive.
The many holders here of Mer-
genthaler Linotype stock were in
terested in yesterdays announce
ment of the acquisition of ma
jority interest in the Davidson
Manufacturing Corp. of Chicago.
This is an important expansion
move, according to Martin M
Reed, Mergenthaler president.
Textile sales are picking up and
the industry thinks it has come
safely through its second recession
since the end of the war, Business
Week reports.
New High for Transit.
Capital Transit scored another
new 1850 high on the Washington
Stock Exchange today when go
shares sold at 3434. The rest of
the market was very active.
The District Association of In
surance Agents will have several
special guests at Fridays outing
at the Indian Spring Country
Club, including Albert F. Jordan,
District Superintendent of Insur-
ance; Miller Stout, Deputy Super
intendent, and Ray Roberts, Fire
Marshal. About 200 will attend
and the program be directed by
Samuel J. Sugar.