Evening star., 1950-02-10

is a director of many corporations
including the Maryland Credit
Finance Corp. and the Glyndon
Bank.
He saw service in the first World
War as an artillery officer and
was overseas with the Marines in
the second conflict.
Bank Bills Get Attention.
Legislation of interest to bank
ing is being given earlier atten-
ton. than usual in Congress, es-
pecially bills relating to the Fed
eral Deposit Insurance Corp. and
to Government financing of CO.
operative housing.
D. j. Needham, general counsel
of the American Bankers Assocla-
ton. presents the status OF these
bills in a letter to State secre-
taries. One of the most important
FDIC amendments relates to a
proposed increase in insurance
coverage to $4,000 per deposit.
Retirement of the Government
capital in the Federal Home Loan
Banks and in the Federal Savings
and Loan Insurance Corp. is urged
in bill being pressed by Repre-
sentative Spence.
The RFC could make no loans
to small business with maturities
longer than 10 years. under the
Lucas bill now before the Senate
Banking and Currency Commit
tee.
New Manager Appointed.
Opening of a new Washington
Office in the Hill Building, 839
Seventeenth street NV, was an
nounced today by the G. H. Ten
nant Co., Minneapolis, makers
of industrial floor maintenance
equipment. r. l.. Lindoe of Silver
Spring has been named manager.
r. C. Crickmer, Falls Church, also
is on the staff.
Robert P. Gatewood. Naval Acad-
emy graduate, who started his f.
nancial career with the Bank of
America in 1910, has joined j. D.
March & Associates, insurance
firm.
The Farm Bureau Insurance
Co., of Columbus, Ohio, announces
that Paul r. Ashbrook, of Arling-
ton, led every other company
agent in 1s49 production.
Henry C.. Pierce, with the Wash
ington Office of the American
Radiator g. Standard Sanitary
Corp. has been promoted to man
ager, to succeed Thomas Hannah,
jr.. transferred to Pittsburgh. He
has been with the firm since
graduating from Yale in 194l.
Gold to Address Ad Club.
Melvin L. Gold. president of the
National Television Film Council
and director of publicity for Ma
tional Screen Service, will address
the Advertising Club of Washing
ton at next Tuesdays luncheon
at the Statler, on Films in Tele-
vision" The talk will be illus
trated and he will be assisted by
Miss Sally Perle. secretary of the
council and owner of New York
advertising agency.
Washington residents received
payments at the rate of $26,970
week in 1949 from the Mutual Life
Insurance Co. of New York,
Agency Manager Charles P. Rice
reported today. District residents
own 5000 individual policies in
the company.
Big Plane Order Announced.
An order for II new 52-passenger
planes has been placed by Amer
lean Airlines with the Douglas Air.
craft Co., to cost S13 100000 Pres
ident C. r. Smith announced to-
day. The planes are DC-6Bs and
will be the fastest transports in
commercial service, Mr.. Smith
said. They will be feet longer
than present models.
Delivery of the new planes will
start next February and be COM
pleted by midsummer 1851. The
planes will have a cruising speed
in excess of 300 miles an hour.
National Airlines will start on
February 18~ two additional club
coach flights between New York
and Miami with stops in Wash
ington, G. T. Baker, president,
announced today.
The Washington Stock Exchange
will be closed on. Monday along
with the New York Exchange, but
the banks and building and loan
associations will be open as usus1.
Garf1nckel common was the
most active issue on the Wash
ington Exchange today. selling at
1921 and 1919 on 4o0-share
turnover.