Evening star., 1950-03-10
Capital Bank Deposits
Show Gain in Week,
Loans Also Increase
By Edword c. Stone

By Edword c. Stone
Demand deposits in Washington
banks climbed to SITS. .542, 900 in
the week ending on March /, a
gain of $l6.111,000 in six days. the
Federal Reserve Bank of Rich
mond reports. Time deposits were
up slightly.
Total loans scored an advance
of $1,747,000 during the week.
Commercial loans were up half a
million, real estate loans remained
quiet but the "all other loans"
total revealed a decided upturn.
The weeks investments were up
almost 2 million. Treasury bills,
certificates, notes and Government
bonds were all bought freely by
District banks.
Haley Takes New Post.
James w. Haley, secretary and
general counsel of the National
Coal Association, has resigned to
become vice president of the
Jewell Ridge & Virginia Smoke
less Coal Cos, of Tazewell. Va
He will represent the two COM
panies in Washington, having Of
fees in the Southern Building.
He is a native of Front Royal, Va,
and graduate of the George
Washington Law School.
Frank Miller, jr., president,
Liberty Savings & Loan Associa-
ton. Baltimore, has been re-
elected to the advisory council of
the Federal Home Loan Bank Sys-
tenn. He will represent the Win
ston-Salem Bank.
The Ameican Finance Corp
meeting in Chicago. today called
on President Truman to appoint
a man with experience in the
sales financing industry to fill the
vacancy on the Federal Reserve
Board. Such a move would great
ly benefit the board. the request
says. The vacancy was caused by
the death of Lawrence Clayton.
Convention Dates Settled.
The Virginia Bankers Associa-
ton again will return to The
Homestead, at Hot Springs for its
57th annual convention. The
conclave will be held June 1914.
the hotel having limited the at
tendance to 400.
Branches of the Bank of Vir-
ginia in Richmond and Norfolk
are new members of the Virginia
Bankers Association. The newly
formed Bank of Colonial Heights
is another joining member.
William M. Goddard. vice presi-
dent of the State Plants Bank
& Trust Co., of Richmond, has
retired after 46 years of service
in Virginia banks. He was presi-
dent of the Virginia Bankers As
sociation in 1947-48.
Earnings Up Sharply.
The annual report of Govern
ment Employees Insurance Co.. out
today, shows earnings of SLIT ,112
after taxes in 1949. equal to $7.85
per share of the 10000 shares of
stock outstanding, compared with
1855 ,289 or $50 per share in the
preceding year.
These are the highest earnings
on record. President Leo Good
win announced. During the year
premiums written totaled $6,614,-
968, new high. The number of
policyholders increased from co.
684 to 1883. The company now
has assets amounting to s9,181 ,814,
highest ever reported.
Firm Builds New Home.
The Home Beneficial Life In
surance Co. of Richmond, starting
its second half century today, re-
ports $367,419,872 insurance in
force and assets of $53, $685. ,538.
The company is now building a
new home Office building in Rich
mond to cover an entire city block,
contain $4,000 square feet and
cost $1,500,000. The firms WASH
ington office has just reported a
particularly good year, according
to President w. E. Wiltshire.
National Officers Change.
Oscar Whitehouse will shortly
become executive secretary of the
Label Manufacturers National As
sociation at the I street head
quarters, President George r. Lam
glois announced today.
Charles r. Crosby, for % years
executive head of the organiza-
tion, is retiring at the end of this
year to return to San Francisco
where he formerly practiced law
Mr.. Whitehouse will be assistant
secretary for the next few months
He has been with the Union En-
ployers Section of Printing In
duStry of America, Inc.
Laidlaw & Co. is participating
In the offering of $1,75O, 900 Anne
Arundel Co.. school bonds, priced
to yield from 090 to per cent.
In the first sale since the annual
report appeared, 100 shares OF
Ca'2ital Transit stock sold on the
Washington Exchange today at