Evening star., 1950-03-07
Store Stocks Advance
To New High Marks
On D. T.. EXCHANGE
By Edword G. Stone

BY Edword {. Stone
Department store stocks are
drawing wide attention on the
Washington Stock Exchange by
reaching new high prices for 1850
and longer periods.
Hecht common, at 29, is selling
at another new peak for the year.
Garf1nckel common has reached
2012, new top for 1850.
woodward & Lothrop common,
changing hands at 347s, has re-
turned to the years best price
attained a few days ago.
Aside from store stocks, Mer-
genthaler Linotype, at SO, is also
at it's peak for this year. In the
bond division, Potomac Electric
Power 3i4s have again turned
strong. climbing to 105.
Potomac Electric Power COM
mon and Virginia Electric & Pow
er common are the most active
issues on the board, with strong
prices. Capital Transit, which
stepped up. to 80 last week, has
dropped back to 30h.
Better Gas Year Forecast.
Exceptionally warm weather pre-
vented the Washington Gas Light
Co. from earning considerably
more than $1.68 a share in 1949,
President Everett j. Boothby said
in commenting on the annual re-
port. Not since 1906 have we had
two such warm winters together,
he said, adding that the last real
cold winter was in 1914.
The 1949 winter was the warm
est in the last so years, Mr..
Boothby said. The company does
not want extreme cold weather as
that is apt to cause trouble but
normally cold weather is required
if new sales marks are to be
reached. With normal tempera-
lures for the balance of this year,
gas sales should be substantially
better than in 1S49, he predicted.
Federal Aid Causes Clash.
Speakers at the Virginia Bank
erst Credit Conference at Natural
Bridge clashed yesterday on the
advisability of farmers accepting
Government aid.
Urging a gradual decrease in
dependence on Government price
supports, DR.. Harry M. Love, of
the Virginia Polytechnic Institute,
suggested farmers achieve their
goal with a minimum of Govern
ment and bureaucratic regula-
ton.
r. Blake Shaw, executive vice
president of the North Carolina
Farm Bureau Federation, retorted
that farmers need protection if
other Government blocs in the
Nations economy are receiving
protection.
Martin Gets Big Order.
First orders for a new model
twin-engine airliner in more than
three years were announced today
in New York by E. v. Ricken-
backer, president of Eastern Air
lines, and Ralph S. Damon, presi-
dent Trans World Airline. who
reported orders for IS new planes
The ORDERS, placed with the
Glenn L. Martin Co., involve $685.
100000. Eastern is to have IS
planes and Trans World 80 planes.
They will have a passenger capac-
ity of 40, air-conditioned cabins
and extra fine visibility.
The Peoples Life Insurance Co.
of Washington today reported a
gain in assets for 1949 of $6,372.-
$40 or 13.46 per cent. On Deem
Der 81, 1949, policy reserves totaled
$48,427.091, with assets of $53,-
702.191. Insurance in force at the
year end totaled $394,043.169.
Marketing Chairmen Named.
Everett r. Smith, president of
the American Marketing Associa-
tion, has named Richard H. Rush,
a business consultant, of Wash
ington, as chairman of the careers
committee. Charles H. Swain. De-
partment Of Commerce, heads the
committee on distribution costs,
while the transportation chairman
is JOHN H. Frederick, College of
Business. University of Maryland.
A. E. Hooker and j. H. Brown
OF the State Farm Insurance Co.'S,
have been awarded special pro-
duction honors for 1949. They
are in the Takoma Park office.
Page Nelson, president of the
Savings Bank of Baltimore, was
recently elected president of the
Baltimore Association of Com
merce. He also is president of the
Associated Mutual Savings Banks
OF Baltimore.
Company At Century Mark.
American Express Co. will cele-
brate its Tooth anniversary on
March 18. Travellers checks and
money orders have made the COM
pany famous all over the world.
Today the company offers travel
services in 160 Offices in 27 coun-
tries.
Consumer Installment loans by
commercial banks, small loan COM
panies and credit unions in Janu-
airy were 18 per cent ahead of
last wear. the Federal reserve