Evening star., 1950-06-23
D. {. Banks Register
Gain Of S22,S5O,
In Demand Deposits
By Edword c. Stone

pT EUWuIO ~. SIOUe
Washington banks registered a
gain of $22. $50, 900 in demand de-
posts in the week ending June
IA over the previous week, the
Federal Reserve Bank of Rich
mond reported today. Time de-
posits were up slightly.
Total loans revealed an in
crease of $2.S17.000 during the
week, divided mainly between
commercial and real estate loans
Other loans were up moderately
Bank investments in Treasury
bills recorded an increase Of about
SIS million. Total assets of the
member banks jumped $40, 1924 .0oC
to $1,000. .342, 900. e.
Lanston Stockholders Meet.
The Lanston Monotype Ma
chine Co. stockholders held theil
annual meeting in Alexandra
yesterday, re-electing all present
directors. The board includes
Harvey D. Best, James E. Coli.
flower, Joseph F. Costello, John
w. Drye, jr., A. E. Giegengack
David S. Hendrick. John Oliver
La Gorce, Delos j. Needham, Viii.
liam E. Schooley and Elizabeth G
Stirling.
The directors reelected Davio
S. Hendrick chairman of the
board, Joseph F. Costello, presi-
dent, and all other officers.
The annual report, out SOME
time ago. showed net earnings oi
$2.05 per share compared with
$3.13 a year ago.
Long Building Boom Seen.
The quarterly review of the
United States Savings and Loan
League said today that 1850
promises to be the biggest year
yet in the postwar building boom
and in the history of the country. "
DR.. Arthur Weimer, League
economist, and Norman Struck,
vice president. said also that the
big building boom may continue
well beyond the end of the cur
rent year."
Housing demand, relaxation of
home financing terms and con-
tinuation of high personal in
comes are the biggest reasons for
the boom, they said.
Bank Dedication Tuesday.
The new Federal Home Loan
Bank of Greensboro, N. c.. will be
dedicated next Tuesday, with
building and loan leaders attend
ing from all over this area. Wash
ington will send a large delega-
tion.
The bank was moved from
Winston-Sal recently to make
possible the quicker handling o1
business in this territory. The
president is Joseph w. Holt.
CHM Opens New Store.
M. s. CHM & Co., Washington
stationers, are opening store No
8 In the Shoreham Building, 80S
Fifteenth street NV. The com.
pany was organized in 1923 ano
has enjoyed marked prosperity
ever since.
The officers are Hugh V. Keiser
president; Byron Sedgwick. vice
president; Glen Markham, treas
urer. and Fred j. Kyttle, secretary
Sales this year are setting new rec.
ords. Mr.. Keiser stated.
Outside the District, the COM
pany has stores in Silver Spring
Alexandria and Hyattsville.
Freight Business Jumps
Walter S. Franklin, president
Of the Pennsylvania Railroad,
stated today that during the last
three weeks the railroad has
moved more freight than at any
time since the middle of December,
1s48. Freight movement this week
has been the largest in any single
week since that time.
The president of the Seaboard
Air Line Railroad. L. r. Powell,
jr., reported today that in the
first four months of 1850 net in
come amounted to $5,229,889, an
increase of $900,449 over the like
period a year ago. He thinks
earnings prospects are good for
the rest of the year.
New air line industry records
were set twice last week when
American Airlines exceeded six
million passenger miles operated in
day, C. r. Smith, president OF
the company, has announced.
The Real Estate Mortgage e.
Guaranty Corp. which is being
liquidated, expects to make a pay
ment OF about $45 a share in
August, Ralph D. Quinter. chair
man of the board. has announced
Another payment will be made
after final tax adjustments. The
company has been in business q
years.