Evening star., 1950-08-30

CaDle aoQlIlonS
on the Vir- Mr.. Mackenzie.
ginia shore.
Marsh Adds Associate.
J.D. Marsh & Associates, estate
planners, announce the appoint
ment of William James Mackenzie.
jr., as an associate.
Mr.. Mackenzie was previously
co-owner of the Palmetto Air
Transport Service in Mama, Fla,
and is former president of
Freezer Locker Service. He served
as a captain in the Air Force in
World War II and saw combat in
Africa, Italy, China and Burma.
A native of Washington, he at
tended Fishburne Military School
and Virginia Polytechnic Institute
and received a degree in account
ing from Benjamin Franklin Uni
versity.
Garfinckel Dividends Voted.
Directors of Julius Garflnckel &
Co. today declared the regular
quarterly dividend of 343s cents
a share on the 512 per cent con-
vertible preferred stock and the
quarterly dividend of 28ls cents
a share on the Az per cent pre-
ferred, both payable September 80
to stock of record September Is.
The usual dividend of 3712 cents
a share on the common stock was
also declared, with the same pay
ment date.
Inflations Bans Outlined.
To meet present inf1ationary
pressures, Gov. M. S. Szymczak of
the Federal Reserve Board recon-
mends -the-board increases
in personal and corporate income
tax rates, selective excise taxes
and taxes on war profits and spec
ulation.
He also recommends that debs
management policy be directed to-
ward tapping as large a volume
of available private investment
funds as possible, thus releasing
money that otherwise would be
spent on current consumption.
He told Wisconsin University
students that controls applied to
the situation should be vigorously
administered.
Hecht Enters Hagerstown.
AS noted elsewhere in today'S
Star. the Hecht Co. has complet-
ed plans for opening a new store
in Hagerstotwn. Md, the site
having been purchased for large
shopping center. This step is in
line with expansion plans which
brought about the big store in
Silver Spring and the present
construction of a new branch in
Arlington.
Samuel M. Hecht, president,
said the new store will be a
branch of the Baltimore store.
The company will have five
stores in Maryland when the new
sales outlet is opened. The store
in Arlington will be the company's
biggest suburban unit, officials
said.
Transit Stock Takes Drop.
Capital Transit stock closed on
the Washington Stock Exchange
yesterday at 36, off three full
points from the recent high of
80. 1t sold on the New York
Curb at 1914, off point from
the previous day. On the two
exchanges sales totaled Ais
shares.
The Equitable Assurance Society
of the United States has an
nounced plans for erecting new
Eastern Virginia headquarters
building in Richmond.
District holders of the United
States Steel Corp. common and
preferred stocks have increased
substantially since the beginning
OF the year.
New Supervisor Named.
jeremiah P. ODonovan has
been promoted to agency super
visor of the Guardian Life Insur-
ance Co., in Washington, Charles
w. ODonnell, manager, an
nounced today. A native of WASH
ington, he has been one of the
leading producers in the ODon-
nell agency for the past four
years.
John w. G. Ogilvie has been
appointed United States sales
manager for the Pan American
World Anyways System. He is a
former director of radio for the
Co-ordinator of Inter-American
Affairs and was acting chief of the
State Departments international
Broadcasting Division.
American University announces
new courses in sales management,
direct mail selling and sales pro-
motion. Instructors will be Lee
M. Barcy, of Diebold, Inc; Ferd
Nauheim, sales consultant, and
Prof. John F. Hippen, with Prof.
Nathan A. Bailey as director.
Myles H. Quail, of Alexander
Brown & Sons, has returned from
a vacation trip to Cape Cod and
other places in New England.
William G. Russell, head of
three Farm Bureau Insurance
Cos. here, is back from a mana
gers convention in Toronto.
July sales of chain stores and
mail order houses were IL per
cent above June and 19 per cent
above July a year ago.