Evening star., 1950-12-07

with an engrOSSed teStlmonlal
from the company's board Of di-
rectorS.
It was on November 25, 1925
when the banker became a direc-
tor of Pepco. He has been men,
ber Of the boards executive COM
mittee since 1880. Mr.. Fleming
recently was feted on his 25th an
niversary as president Of Riggs
Bank.
Name Change Proposed.
The directors OF the Security
Savings & Commercial Bank
Ninth and G streets NV, have
voted to recommend to the stock
holders that the name of the bank
be shortened to Security Bank
The recommended change will be
acted on at the annual meeting
in January, President F. G. Addi-
son, jr., announced.
The directors believe customers
will welcome such a change. It
would cause no inconvenience as
they can continue to use their
present pass books. checks and
other stationary. Mr.. Addison
said the shortening of the name is
In line with action taken recently
by one large New York bank and
others throughout the country.
Business Loans Up
Paced by business loans, total
loans extended by the Federal Re-
serve System member banks of
the fifth district rose by $151 mil
lion during the third quarter OF
1850.
The monthly review of the Fed
eral Reserve Bank Of Richmond
reported the total expansion in
gross loans, $92 million. was in
commercial and industrial loans,
which rose by 1873 per cent from
June 80 to October 4.
Figures for the survey came
from the ATT member banks in
the fifth district. Because these
banks hold two-thirds of the bank
assets of the district their figures
provide sound key to business
conditions. The Washington area
was included in the sections which
contributed mostly to the loan
expansion.
Consumer loans rose by $3e
million, an average Of 8.4 per cent
during the third quarter, with
automobile loans accounting fol
third of the rise. An even faster
rate of expansion was shown by
other retail installment credit
which increased 64.7 per cent
from year-end 1949 and by 1915
per cent between June 80 and
October 4. Real estate loans
showed only $40 million increase
to level of $500 million.
Advertising Outlay Gains.
Expenditures for national ad-
vertising set an all-time high in
October, Printers Ink will an
nounce in tomorrow's issue. This
index shows an increase of 9 per
cent over September. 1850, and q
gain of 19 per cent over October
1949.
Television, followed by outdoor
and newspapers, accounted for
much of the increase over the
previous month.
Carpet Co. has been appointed
exclusive distributors for the
frozen food line of Libby, Mcneil
g. Libby, it was announced today
A. Moonie Mondschein, sales di-
rector and buyer for the firm, sale
Carpet will handle Libby's dis
tribution both in Washington ane
Baltimore sales territory.
r. j. Schweitzer and j. G
Brooks, statesmen for the Genera
Electric Supply Co.. 705 Edgewooe
street NE, have won two of fivt
national awards in Nationwide
sales contest in which 1900 sales
men were entered. The contes
was sponsored by the manufac'
turers of Oasis Air Driers ane
Water Coolers.
Mr.. Schweitzer finished first ane
Mr.. Brooks was fifth in the con
test. Both men also received spe.
cially inscribed driers in addition
to the prize awards In recogni'
ton of sales ability.