Evening star., 1950-04-21
D. {. Delegation Of 6
To Attend Meeting
OF ABA Council
By Edword c. Stone

pected at the spring meeting Of
the Executive Council of the
American Bankers Association
which opens a three-day session
at French Lick, Ind. Sunday.
This Is the most important ABA
meeting of the year aside from
the annual convention.
The Washington delegation will
include A. Scott Offutt. vice pres
ident of the Union Trust Co.. the
Districts member of the ABA Ex-
ecutiye Council; Robert v. Flem-
ing. president of the Riggs
National Bank, chairman of the
ABA Committee on Government
Borrowing; Thomas j. Groom.
president of the Bank of Com
merce & Savings, and Wilmer j.
Waller, president of the Hamilton
National, members of other COM
mittees.
D. j. Needham. general counsel
of the ABA, and j. O. Brott as
sistant counsel, will attend from
the Washington Office. The
Chase National Banks plane will
call here tomorrow for some of
the Districts delegates.
WhitIam Heads Managers.
E. H. Whitlam, manager, Fed
eral Government Division of the
Dictaphone Corp, has been elected
president of Washington Chapter.
National Office Management Asso-
citation. Other officers elected at
the Dodge Hotel include William
J. Marston. Central Intelligence
Agency, vice president; John H.
Beswick, Army Transportation
Corps, treasurer; John H. Poole,
business manager. American Avia-
ton Publications. Inc, secretary.
John L. Mitchell of Shannon &
Luchs, Albert H. Hall. Govern
ment Purchasing; Peter Timo-
shenko, Veterans Administration;
and Arthur j. Tufts, Equitable
Life. were elected directors.
Broader Investing Urged.
Morris M. Townsend. president
of Axe-Houghton Funds. urged
bankers at the Prince Georges
Country Club last night to recon-
mend investments in common
stocks in addition to savings ac-
counts and savings bonds. He
believes this is the best way to
meet any further decline in the
value of the dollar. The day for
putting all cash in savings and
bonds has passed. he asserted.
Herbert G. Carhart, jr., of
Washington, has Joined radio Sta
ton WBCC, Bethesda Chevy
Chase, as Sales promotion man
ager. He has been in public rela-
tions work in New York.
j. H. Carmichael, president,
Capital Airlines. and all other
directors were reelected at the
annual meeting. held Wednesday.
The Electronic Computer Corp,
New York. has submitted a low
bid of $123.000 to the Bureau of
Standards for an automatically
sequenced, general-purpose digital
computer. The announcement was
made by Murray Pfeferman, Silver
Spring. a director Of the firm,
whose Washington Office is located |
at 1147 Connecticut avenue NV, |
March Insurance Sales Off.
March sales of life insurance in
Washington totaled $11 ,662 900, a !
drop of 3 per cent from the same
month a year ago, the Life 1nsur-
ance Agency Management Asso-
citation reported today. Sales inI
the first quarter reached $30,95O,-
900, off l per cent from the like
l949 period.
Maryland's March sales of $24,-
100000 scared II per cent overI
last year. while first-quarter sales
OF $62, 1894 900 were up IA per cent.
Virginia sales in March amounted
to $27.149.000, up 10 per cent, and
$70,463 900 in the three months,
per cent rise.
District Building Scars.
Building permit valuations in
the District in the first quarter
totaled $l5.26l,837, against So
644,l08 a year ago, Dun g. Brad
street reports. Washington took
18th place among IS cities with
the largest permit valuations in
this period.
In March, permit valuations in
the South Atlantic States amount
ed to $47,50s,445. compared with
$26,72 ,236 a year ago, a II per
cent advance. The national gain
in March was 81 per cent.
The Loughborough Development
Corp. of Washington and Mary.
land elected Albert E. Walker, AL
len E. Walker. Edward Wolensky,
Q. U. Singer, and Leroy Gaddis
directors at the annual meeting
yesterday The financial state
ment indicated some improvement.
Firm $50 Years Old Monday
Alexander Brown & Sons will
celebrate its 150th anniversary
next Monday. The investment
firm has sent out letter point
ing to the many high spots in its
brilliantly successful history.
The firm started only II years
after the ratification of the con-
stitution and originally was very
active in world trade, contributing
a great deal to the growth of Bal
timore.
In the early 18O0's the firm
owned and operated famous fleet
Of fast-sailing clipper ships. The
company also played a leading
part in financing the Baltimore &
Ohio Railroad.