Evening star. [volume] (Washington, D.C.) 1854-1972, 1950-08-13

meyer, Security Savings & Com
mercial, chairman of the WASH
ington Group; S. Winifred Bur-
well, National Metropolitan; Cath
crime M. Krieg, Riggs National;
Mary L. Chadwick, Washington
Loan & Trust; Alice H. Whitton,
Alexandria, and Miss Elsie Mat
theWs of Winchester, Va, and a
member of the District association
Capital Store Sales Soar.
Department store sales in the
Capital for the week ended Au-
gust S scared 38 per cent above
the corresponding week a year
ago but were only l per cent
ahead of the preceding week this
year, the Richmond Reserve Bank
reported.
The bank added that cumula-
tive sales in the four weeks end
ing on August S were 81 per cent
above last year. Sales in the 5th
district were only l per cent
ahead of the previous week but
were 80 per cent higher than a
year ago.
The Federal Reserve Board
noted a letdown in scare buy
ing" Most goods in strongest de-
mand have been bought Up, the
board said, and buyers are lis,
tening to the Government plea to
stop boarding.
SeabOard's Net Declines.
Net income of the Seaboard
Finance Co., which has four
branch Offices in Maryland and
three in Virginia, in the nine
ending June 30, amounted
to 1851, $3.50, or $1.46 a share,
against $1,6O9,708 or $1.58 COM
mon share a year ago. +.
w. A. Thompson, board chairs
man, said the decrease in per-
share earnings was partly due to
an increase of 83,746 in the NUNS
Der of shares outstanding. He
looks for a substantial rise In
earnings in the next three months:
Receivables on June 80 totaled
500, 1886, 1881. highest figure in Sea-
boards history, he said. s
Electricity Sales Rise. 4
Sales of the Potomac Electric
Power Co. in July in the District
amounted to 139,378,275 kilowatt
hours, a gain of 1,675,558 XVIII,
Dr. 122 per cent over the same
month last year, officials reported
yesterday.
Total sales in the District in the
first seven months were 2.8 per
,ent above year earlier. Sales
outside the District were UP 10
Der cent, bringing total sales to
,270,823,351 XVIII, an upswing
# SIG per cent.
Real estate bond prices declined
per cent in July for the second
ucceSSive month, according to the
price averages. Up
o June, prices had risen for IL
months.
Addison Given Promotion.
Francis G. Addison III, son of
ne president of the Security Saw
1gs & Commercial Bank, has been
romoted to assistant secretary of
ne Equitable Building Associa-
ion. He has been with the build
1g and loan organization since
ne end of World War II.
Alfred H. Lawson, president of
he Washington Loan & Trust Co.,
EFT here yesterday for a vacation
our OF the West his trip to in
lude several national parks and
'un Valley.
Karl Hoffman is attending the
.dvanced Insurance Agency Man.
cement School at the University
Connecticut.
Frederick M. Babcock, WASH
lgton attorney, is on the lectur-
1g staff of the Savings and Loan
iraduate School, now in session
t Bloomington, Ind.
Virginia Bankers HOnored.
T. E. Sebrell III, secretary
'easurer of the Clarendon Trust
o., has been named vice chair
ian of the Committee on State
of the Virginia Bank
IS Association.
Fred L. Cornell. jr., Citizens Ma
onal, Alexandria, is a member
the Conference Committee.
The Virginia Bankers Associa-
on reports the death of Carl A.
ones, vice president of the Wash
lgton Trust & Savings Bank, at
rlstol. He outlived his brother,
[omer E. Jones. founder and
resident of the bank since 1921,