Evening star. [volume] (Washington, D.C.) 1854-1972, 1950-11-05

regular month
Mr.. Lee. ly investment
program called the Potomac Plan.
Other board members are Wen
dell Lund, resident partner in the
law firm of Brown, Lund & Fitz-
gerald; Julius Wadsworth, retired
foreign service officer of the State
Department; George M Ferris.
head of the investment banking
firm bearing his name; Judge
Edgar T. Goodrich, former Justice
of the United States Court of
Claims and a member of the law
firm of Guggenheim, Untermeyer,
Goodrich & Amram; George S.
Elmore, senior partner in the law
firm of Elmore & Moore; Leigh E.
Ore, executive secretary of the
American Cancer Society; Charles
R. Connolly, president of Capital
Reserve Corp, who entered the in
veStment business here in 1928
and was executive officer of the
War Bond Council, Army Service
Forces, during World War II.
Bank Handles Funds.
Capital Reserve Corp. sells Po-
tomac Plans calling for monthly
deposits over a flve-year period
for the purchase of Potomac Elec-
trio Power Co. common stock.
Funds are handled by the
Hamilton National Bank trust de-
partment, which sends out
monthly notices and receipts, in
vests the money in PEPCO COM
mon each day to the fourth
decimal point, credits the divi-
dends and delivers the accum-
ulated stock at the end of five
years.
Capital Reserve has no connec-
ton with Potomac Electric Power
Co. The stock was chosen for the
plan because of the stability of
the company and its good earn
ings and dividend record.
Capital Reserve started opera
tons August % after clearance
from the SEC, which required the
deposit of 100000 of paid-up
Potomac Plans with the Hamilton.
In the two months ended Octo-
Der 81, another 100000 of plans
have been sold.
Mems Clothing Sales Up.
Mems clothing sales in WASH
ington department stores in Sep
TENDER were 80 per cent above a
year ago, in contrast to a IL per
cent gain in total store volumes.
the Federal Reserve Bank of
Richmond disclosed. Stocks of
mems clothing on September 80
were only 2 per cent above last
year.
The radio = television phono-
graph departments came through
with whopping 78 per cent in
crease from a year earlier and
September 80 stocks were still up
70 per cent.
Sales of domestics, including
muslinS, sheetings, ETC., scared Al
per cent and left stocks 2 per
cent below year earlier. House.
hold appliance sales were up 80
per cent and stocks dropped
per cent below year earlier.
Sales of women's and misses
ready-to-wear apparel were 2 per
cent behind 1949, while stocks were
off per cent.
Sales Decline in Week.
Capital department stores to-
tai sales in the week ended Octo-
Der % were 6 per cent behind the
previous week and 2 per cent be-
low a year earlier. Sales in four
weeks ended the same date were
z per cent above a year earlier.
State Loan & Finance Corp.
earned $645,536 or $1.89 a share
in the first months of 1850 VS..
$414 ,260 or $1.27 a year earlier.
Loans made and purchased in the
nine months totaled $22,554,362
VS.. $15.937,309 and customers
notes receivable on September 80
totaled $16,817,642 VS.. $11,322,-
668 year earlier. The company
has three new offices, raising the
total to 81.
Fiduciaries to Hear MARQUES.
The fduciaries section of the
District Bankers Association will
hear an address by Melvin w.
Marques, deputy register of wills,
at a dinner meeting at the Willard
Hotel next Wednesday evening.
Dinner will be served at 7 pm.
after a social period starting at
$50 pm. Herman T. Lauten is
chairman.
The Federation of Business
mems Associations will hold its
annual banquet in the main ball
room of the Mayfower Hotel next
Wednesday night. A floor show
and dancing will follow. Jerome
B. Mckee is president.
w. Herbert Dame, past presi-
dent OF Washington Chapter, Ma
tional Association of Cost Ac-
countantS. addressed conference
on Federal taxation at the Grad
uate School of Business at Harvard
University Friday.