Evening star., 1950-08-14
Knott Hotels Report
Profit Of S43O,574, OF
79c, for Six Months
By Edword c. Stone

- StS"S
Knott Hotels Corp, which man.
ages the Houston Hotel here
among % unitS, today reported
net earnings for the six months
ending June 80 as $430,574, or rs
cents per share compared with
$513,824 or $149 a share a year
ago.
Changes in the number and
status of its hotels caused a diff
ference of $487,202 in gross in
come, w. j. Knott, president,
stated. Earnings of four recently
acquired hotels will not appear
until the last half year, he added.
Room income was of per
cent and food sales is per cent
while beverage sales were per
cent higher, the report disclosed
Fine Speakers Secured.
Washington Chapter, National
Association of Cost Accountants.
announced today that Ben c.
White, program chairman, has
secured the following speakers for
this years technical sessions:
Nicholas st. Peter, resident
comptroller Hyatt Bearing Divi-
sion, General Motors Corp; Harry
E. Howell, advisor to Munitions
Board, United States Army;
Merle H. Miller, tax editor Of
Fortune magazine; w. F. Frese,
General Accounting Office.
John Beckett, assistant profess
sor, Massachusetts Institute of
Technology: T. r. Elsman, Mon
roe Calculating Machine Co.;
Stanley z. Bronner. Bridgeport
Brass Co.; C. Oliver Wellington,
certified public accountant; Thorn
as w. Phelps, Wall Street security
analyst.
Beach Named Representative.
Rex Beach has been appointed
Washington representative Of Nc
Claren, .Parkin, Kahn, Inc, New
York advertising and public rela-
tions firm. He will take charge
of the branch recently formed at
the executive Offices in the Walker
Building. He has been consultant
for the United States Brewers As
Sociation, Greyhound Corp. and
other corporations.
Yale & Towne Manufacturing
CO. has appointed FTei1e ASSoci-
ates, 425 Union Trust BuldMg. as
their representatives in the Dis
trict OF Columbia, Virginia and
Maryland for Yale hand end elec-
trio hoistS, gas and electric indus
trial trucks, and dial scales. The
appointment fills the vacancy
caused by the recent death Of
Howard E. Scofield.
Record Earnings Forecast.
Profits will be riding high this
year, and if it weren't for new
wartime taxes, business could
count on ringing up a record net,
says Business Week.
Manufacturers sold a lot more
goods in the second quarter this
year than they did in the same
three months a year ago." says
the magazine. More important,
in most cases profits have climbed
faster than sales. This is an in
direct benefit that manufacturers
have squeezed out of last sum-
mer's recession. They had to get
their costs under control then. So
they're clearing more on their
sales dollar now"
Navy Secretary to Speak.
Secretary Of the Navy Francis
P. Matthews will be one Of the
headline speakers at the 36th
convention of the National Con-
sumer Finance Association open
ing in Chicago on September 81.
Paul L. Selby, executive vice
president, also announced at head
quarters here today that Charles
E. CARL, public relations director
of the Ford Motor Co., and DR..
Howard Bowen, dean Of the Col
lege of Commerce, University of
Illinois, are also on the program.
About 1000 officers in small loan
companies are expected at the
meeting.
Note Sale Announced.
Seaboard Finance Co. has placed
privately with the Mutual Life
Insurance Co. of New York an
additional 81 million principal
amount of its 3H per cent sub
ordinated notes, due 1860.
This completes the issue of So
million of such notes. The First
Boston Corp. acted as agent for
the company.
Standard Coil Products Co. has
fled a statement with the SEC
for the sale of 367, 500 shares of
81 par value common stock. The
firm makes tuners for television
sets.
New Policy Announced.
The Securities and Exchange
Commission announced its latest
policy governing the sale of in
yestment company securities. The
policy rules were drawn up in CO.
operation with the National AS
Sociation of Securities Dealers
after 5000 samples of advertising
and sales literature had been
studied.
These rules of Fair Practice
have been given a great deal of
attention by securities dealers
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