Evening star., 1950-12-27

tan Lie 1nSul- M,
ance Co.. the
Railway EX- Mr.: Norris
press I:gency and Western Union
Telegraph Co.. and is life trus-
tee of the National Geographic
Society. He is a member of the
Metropolitan Club of Washington
and the Manhattan Club OF New
York.
The conference board. founded
In 1916, is an independent. nom
profit organization which gathers,
tests. distributes and explains
facts essential to the establish
ment of management. labor, gov
ernmental and economic policies.
Its work is supported by more
than 5000 business concerns, labor
unions, trade associations. Gov
ernment agencies, libraries, col
leges and universities.
Fifth District Active.
Rising business activity in the
Fifth Federal Reserve District,
which includes the District, is ex-
pected to continue into 1851 as
industries seek to meet current
demands and fill order backlogs,
the Federal Reserve Bank OF Rich
mond reported today.
At the same time, wages are
rising but the people are not feel
ing like splurging." the bank said.
Nevertheless, a rising income level
is bound to find its reflection in
trade later on and this must nee
essarily come in the nondurable
goods industries since the supply
of durable goods will be lessened.
This development augurS well
for the full operation of the non
durable goods industries in this
district which constitute a large
part of our industrial activity"
The bank said income in the dis
trict has risen somewhat faster"
during 1850 than it has nationally
Farwell Joins Wax Company.
Fred M. Farwell. formerly
branch manager here for Interna-
tional Business Machines, has
been named executive vice presi-
dent of S. C. johnson g. Son. Inc,
makers of wax and allied prod
ucts.
Mr.. Farwell has been vice pres
ident Of the IBM World Trade
Corp. in Rio de Janeiro. Brazil
since last January. He started
with IBM as student salesman,
moving through the ranks to sales
manager of the electric account
ing machine division in 1885.
During World War II he was
special staff assistant of the Ord
nance Branch of the Office of
Production Management. served
in the Army for three years and
rejoined IBM here in 1916. He
served as branch manager until
he went with the IBM World
Trade organization in January.
David Bornet, vice president of
the National Savings Trust Co. is
recovering from an eye operation
at the Episcopal Eye, Ear and
Throat Hospital. He has been
with the National Savings more
than 40 years.
Gas Dividends Declared.
Washington Gas Light Co. di-
rectors today declared the usual
quarterly dividend of s1.12l2 a
share on the $3.50 cumulative
convertible preferred stock, pay
able February 10 to holders of
record January 25; also a quar-
terly of $1.06l2 share on $4.25
cumulative preferred stock, pay
able on the same date. A quar-
terly dividend of Sta cents a
share was declared on common
stock, payable February l to
holders of record January Is.
Citizens Building and Loan AS
sociation of Silver Spring has had
a record year, reported c. Edwin
Kline, executive vice president
Resources increased more than
$1,250,000 in the year. Dividends
to savings members in six months
ended December 81 will exceed
100000.
National Airlines Net Up.
National Airlines yesterday re-
ported net profit of $110,965 fol
November, after provision of $84,-
405 for taxes and $136.602 fol
depreciation. There was deficit OF
$210.431 in November, 1949. Net
income for five months ended No
vember 80 was $463, ,426 VS.. a net
loss of $898.579 a year earlier.
City Stores Corp. stockholders
approved plan to revise the cap
ital structure and Chairman AL
bert NJ Greenfield said sales in
II months of the fiscal year ended
January 81 set company record
The corporation owns Franklin
Simon & Co., which operates 8
Washington store.
Charles w. Hoff, president Of
the Union Trust Co. of Maryland
at Baltimore, has been named 6
director of the Baltimore branch
of the Federal Reserve Bank o.
Richmond. Archie K Davis, vict
president of the Wacho,ia Banl
& Trust Co., Winston Salem
N c., has been named a director
of the Charlotte branch.