Evening star., 1950-02-05

WlUIl 1OObCAU @OJ AeAAAs NAAcs42
man of the New York Stock Ex-
change, as the chief speaker.
Among the guests will be William
McChesney Martin, former presi-
dent of the New York Exchange
and now Assistant Secretary of the
Treasury.
Capital Store Sales Rise.
Department store sales in the
Capital for the week ended jan
uary % were 8 per cent ahead Of
the same week a year ago and
per cent better than in the pre-
ceding week this year, the Rich
mond Reserve Bank announced.
In four weeks ended on January
% sales here were 5 per cent under
the like 1949 period.
Sales in the Fifth District were
up S per cent for the week over
last year, but under the previous
week this year. Nationally sales
were 2 per cent higher than .
year ago.
The Washington Loan & Trust
Co.. with deposits of $48,923, ASS
on December 81, gained IS places
in its standing among the 400
largest banks in the country
during 1949. It now ranks as the
354th largest in size, compared
with 369th place at the end of
1948, the American Banker an
nounced yesterday in the 1880
annual roll call"
Mortgage Lending Speeds Up.
Mortgage lending staged a
strong revival in the late months
of 1949, running at the fastest
pace since the war. The United
States Savings and Loan League
reports that member associations
put out $1,028, ,000, 900 in home
credit in 1949's final quarter.
This quarter was the best ON
record and represented a rise of
% per cent from the like three
months. in 1948. The December
total alone of 1881 100000 re-
corded a rise of 80 per cent over
the same 1948 month. The full
years mortgage lending was / per
cent under 1948.
Directors of <Mid-Atlantic APP
pliances, Inc.,. have elected Samuel
P. Cohen president, I. S. Burka
vice president, I. Grossberg secre.
tary and Harry P. Brightman gen.
eral manager,
: Trans World Airline starts its
fifth year of trans Atlantic opera
tions today. after carrying 2S4, 900
passengers on these overseas
routes in the past four years.
Bond Sales in Sharp Rise.
Bond sales on the washington
Stock Exchange in January more
than doubled the volume of jan
uary, 1949. Sales totaled $4,000.
against a turnover of only $4,000
a year ago. Capital Transit As
led the market.
Woodward g. Lothrop, Gar
f1nckel and Hecht department.
store stocks have recently been in
better demand on the Exchange,
Hecht, at %, is at the high for
the year. At the weekend Po-
tomac Electric Power common
reached 1914, another new 1850
top.
The bid for Washington Base
ball stock, over the counter, re-
mains at 95 with none offered
for sale.
Foreign Trade Gains Seen.
John r. Waller, president of
the International Bank, Jackson
place. told stockholders yesterday
that the investment institution
made modest profit during l949.
II the upward trend continues
through 1850, officials hope to
declare a dividend on the capital
stock, Mr.. Waller said.
Mr.. Waller reports special eff
forts to increase business in the
Foreign Department. The con-
tinuing assistance which this
country has pledged to foreign
countries is certain to stimulate
foreign trade. he says. as he pre-
diets larger earnings for his own
institution in 1850.
New Bank Officials Named.
DR.. Aaron Deitz has been
elected a. director of the Citizens
Bank of Riverdale to succeed the
late Frank M. Stephen, director
and counsel. w. E. Hutchinson,
director, was made general coun-
sci and T. Hammond Welsh was
elected assistant counsel.
The Security Savings g. Com
mercial Bank tomorrow will pa-
a stock dividend of one share for
each Is shares now held, increas-
ing capital to 100000 and sur
plus to 100000. The stock now
Is quoted at $212 share.
Vincent c. Mahoney, of WASH
lngton, has been appointed gen.
eral manager of Bob Fleigh, Inc.
Baltimore