Evening star., 1950-02-19


Mr. Cooley attended the
Detroit Law School. He has been
a field engineer in the Washington
district since 1948.
Store Sales Up Slightly.
Department store sales in WASH
lngton for the week ending Satrt.-
day, February II, were l per cent
higher than in the like period a
year ago and in four weeks ended
on the same date were up 2 per
cent, the Richmond Reserve Bank
reported, However, due to the
continued mild weather, sales were
4 per cent under the previous week
this year.
Sales in the whole Fifth District
were off l per cent for the week
and 5 per- cent since January /.
Average sales for the Nation were
unchanged. Retail trade in the
Atlanta district gained per cent
and the Philadelphia area 8 per
cent IN the period under review.
Members Buy Up Capital.
Member savings and loan as
sociations and other home financ-
ing institutions of the Federal
Home Loan Bank System now own
about two-thirds of the total capi-
tai stock of their district banks,
William K. Divers, chairman of
the Home Loan Bank Board, re-
ported yeSterdav
Repayments of $21,00O,0O0 Of
united States Treasury capital in
the ii district banks of the sys-
tenn during January brought the
Government share down to about
SIS, 100000, he said, compared
with $138,000,000 held by the
member institutions. The banks
are rapidly approaching full own
ership by their members.
Woodward Dividends Voted.
Directors of Woodward & Lo-
throp department store have de-
clared the usual quarterly divi-
dend of so cents per share on the
common stock and $125 a share
on the preferred both payable on
March % to stockholders of record
March 9.
A. H. Baker & Co., Inc, in the
Woodward Building, has taken a
much larger suite of offices, to
meet steadily expanding business.
The firm has dealt in general in
surance in Washington since 1905,
The Peoples Life Insurance Co.,
l343 H street NV, will hold an
agency convention here this week,
one of the program features be-
ing a banquet at the Statler on
Friday, February "a.
Iron Works Heads Listed.
Fred S. Gichner Iron Works
division heads for 1850 were an
nounced yesterday by Henry
Gichner, vice president and gen.
eral manager, as follows:
George Fulmer, manager, motor
truck division; Stanley Manville,
shop superintendent, iron works
division; Harry Reynolds, superin-
tendent, wire shop division; Mat
thew Kershbaum, Government
sales division; Joseph Gichner.
residential sales; Capt. Radford
Moses. (U. S. N. retiredD, truck
sales division; James Eberley,
building trades sales division; Ray
Wilburn, chief, drafting division:
Elias Fox. chief inspector, ma
terials, and Frank Hoffman, in
ventory control.
Firm Reports Best Year.
Lincoln Service Corp. had its
best year in all departments in
1949. Net profits were $526.455
as compared with 1886, ,389 in 1949,
an increase of $140,066, or 36.2%.
Earnings on the common stock
in 1949 were $13.08 per. share
compared with $500 per share in
1948. Net addition to surplus was
$347, ,566 in 1949 compared with
$224,087 in 1948, an increase of
55.1%.
During the year the corporation
acquired five additional operating
subsidiaries. which now bring the
total to forty-three officers, Presi-
dent Charles Delmar stated.