Evening star., 1950-05-12

Baldwin. special ~
agent of the
Mort hwestern C.P. Rice.
Mutual, second vice president.
Three new directors were chosen
to serve three-year terms, Mitchell
I. Curtis, Lincoln National; F. v.
McNair, Jefferson, Standard. and
William L. Porte, Mutual of New
York. Six candidates had been
nominated at the April meeting.
The election was held at the
Shoreham Hotel yesterday. Mr..
Rice has been with Mutual Life
81 years. He was a University of
Tennessee athlete and played pro-
fessional baseball two years.
Electricity Sales Rise.
Total sales of the Potomac Elec-
trio Power Co. in the District for
April amounted to 1883, 500
kilowatt hours, gain of 3,618, ,236
XVIII, or 3.15 per cent over April,
1949, company officials reported
today.
Combined sales in the District
and outside reached 723, 1886, ,918
kilowatt hours, an increase for,
the month of 35,306.450 XVIII, or
5.13 per cent, the report stated.
Potomac Power common stock
holders today received the pro-
spectus giving all details of the
sale of 710,700 additional shares
of common stock. With slight
changes, the $50 million bond
sale will be covered in a similar
financial statement. Subscription
rights expire on May %.
Auto Executives Advanced.
Edward H. Cashell has been ap-
pointed general manager of H. B.
Leary, jr., and Bros, it was an
nounced today. Arthur w. Ven
nell was promoted to executive
vice president. Both are veterans
with the Chrysler Plymouth firm
and have been in the business 25
years.
The Federal Home Loan Banks
new offices at Greensboro, N. c.,
which serve 430 building and loan
associations in this territory, are
expected to be much more con-
venient than the Winston-Salem
location for a majority of the
members. The associations in this
area have combined assets SIT
billion. w. Waverly Tayor and
Edward c. Baltz are directors. The
move has been in the works for
many months.
Store inventories Rise.
stocks of goods III Washington
department stores on March 81
were 4 per cent higher than on
the same date q year ago, the
Richmond Reserve Bank reports
in the latest review. $3.50 aa
Orders for merchandise were 3
per cent higher. Total receivables
on March 81 also ran 8 per cent
ahead of the same 1949 date. OF
bills due on March l, the report
showed SO per cent were collected
during the month.
About 500 Maryland bankers
and their families are gathering
at Atlantic City for the annual
convention to be held on Monday
and Tuesday, with w. r. Huey
presiding. Harvey R. Emmart of
the Baltimore National Bank is
slated to take over the office In
the annual election.
Sales Manager Appointed.
Robert L. Turner, general traf-
fic manager of Eastern sAirlines
for Is years. has been appointed
vice president in charge of sales
for Northeast AirlineS.
During the war. Mr.. Turner was
assistant chief of staff for the
North African Division of the Air
Transport Command, and was
traffic officer at the Cairo and
Yalta Conferences.
Senator Edwin c. Johnson,
chairman of the Senate Interstate
and Foreign Commerce Commit
tee, and Gov. Frank j. Lausche OF
Ohio will be the principal speakers
at the annual Federation for Rail-
way Progress dinner at the May
flower Hotel next Thursday, it was
announced today.
Outdoor Advertisers Meet.
General outdoor Advertising
Co. held a dinner in Atlanta for
quarter century employees which
was attended by John E. Shoe
maker, Washington branch man
ager and a director of the COM
pany: Jacob Frei. F. P. Hermann,
Frank C. Rupp, E. M. Thompson,
B. V. Wilson and G. T. Wolfrey.
Robert D. Coffman, editor of
Potomac Powers Pepconian; Carl
H. Claudy, jr., of the Chesapeake
e. Potomac Telephone Trans-
mitter, and Fred D. Gwynn of
Washington Gas Lights Wonder
Flame, are attending an interna-
tional conference of industrial
editors in Pittsburgh.
Roger L. Baldwin, general agent
of Northwestern Mutual Life:
Joseph S. Baldwin, Thelma R.
Davenport, E. G. Dickinson and
Richard E. Eckel have returned
from an underwriting conference
at Greensboro, N. c., of top policy
producers.
S3,0O0,000 Loan Paid Off.
National Airlines has repaid
two years in advance-its long
term Indebtedness to banks, it is
announced by G. T. Baker. presi-
dent. Payment of $1,263,157, plus
interest, from its current earnings
retired the last eight installments
of a $3,000,000 loan which the
company negotiated in 1916.
Marker AVERAGES