Evening star., 1950-10-11

Fenner & Beane He is president
of the Blue Cross disqualification
Plan and Joseph H. Hines. Inc,
of Washington.
He also is a director of Electric
Boat Co., Acacia Mutual Life In
surance Co. of Washington and
Canadian, Ltd, of Montreal. He
is a former representative from
Ohio and resides at Frederick, Md.
Western Maryland Drafts Plan.
Western Maryland Railway has
drafted a plan to cleanup arrear-
ages of $136,50 a share on its 7
per cent first preferred stock
through an exchange for new
shares. Stockholders must approve
Each old share with its divided
arrears would be exchanged for IA
of a share of per cent first pre-
ferred: one share of 4 per cent
second preferred and 112 shares
of new common. Each share of
old second preferred would re-
ceive half a share of per cent
second preferred and IA shares of
new common.
Old common would be exchanged
for new common on a share-for-
share basis.
Bank Dividend Voted.
National Savings & Trust Co.
directors yesterday declared reg
ular dividend of So a share and
an extra of 81 share on capital
stock. Both are payable Novem-
ber l to holders of record at the
close of business october %, Presi-
dent Bruce Baird announced.
Howard o. Robinson, jr., vice
president of Folger, Nolan. Inc,
has been elected to the board of
directors of Insurance Advisory
Services, Inc. President De Fran
ceau said that Mr.. Robinson will
serve as financial adviser and con-
sultant to the board.
Walter r. Gunberg has been
named Washington zone manager
for Kelvinator Division, Nash
Kelvinator Corp. He succeeds j.
j. O'Neil, who will retire. Mr..
Gunberg entered the appliance
field in 1925 and formerly man.
aged Kelvinator's Newark, N. j.,
branch.
Mutual Agents To Meet.
The National Association of
Mutual Insurance Agents. which
has headquarters here, will open
its annual convention at the Hotel
Statler in New York next Monday
Philip Baldwin, executive di-
rector OF the association. will leave
Washington Saturday to set up
the New York convention head
quarters. |
Opening address of the conven-
ton Monday noon will be deliv-
cred by Senator Mccarthy, Re-
publican. of Wisconsin. More
than 700 delegates from 1000
agency members will attend.
ALB Holds Open House.
Washington Chapter, American
Institute of Banking, will hold
open house this afternoon from
I to 7 o'clock in its new quarters at
1760 N street NV. Samuel C.
Redman, jr., is president of the
chapter.
Leroy Humphrey, member of the
Maryland House of Delegates from
Prince Georges County, will be
the guest speaker at the annual
fall meeting of Group 4, Maryland
Bankers Association, at the Ham,
ilton Hotel tonight.
Carl Byoir, head of the public
relations firm of Carl Byoir g.
Associates. Inc. will address the
Washington Advertising Club at
a luncheon meeting Tuesday, Oc-
tober II. His subject will be "a
Publicist Looks at the Scene"
V. Manning Hoffman, president
of the District Association of In
surance Agents, will direct Fri
days luncheon meeting of the
association at the Mayffower
Hotel.
Stock Market Comments.
SO4 Civ SO11O1O4O11O dlC y
ing the most influence in making
stock market prices, according to
the fortnightly review from john
son, Lemon & Co. Stocks with
more-than-average vulnerability
to an excess profits tax have been
making a strong comeback. Big
advances have been made by
shares scheduled for splits and
by those with good earnings re-
ports.
Hemphill, Noyes, Graham, Par
sons & Co. comments that yields
from stocks are still attractive and
well protected by indicated earn
ings, but the need for caution is
emphasized by the facts that in
dustrial production of civilian
goods and earnings are at peak
levels and stock prices are the
highest in 20 years.