Evening star., 1950-04-16

IN l949. Net income for the quar-
ter amounted to $179,231, in com.
parison with $13O,455 a year ago
Mr.. Delmar stated.
In the first quarter earned sur.
plus climbed to $1,226,782 from
$830,441 at the end of the frst
three months of 1949, an eXcep.
tionally fine gain.
Acacia Has Best Quarter.
William Montgomery, presiden
of Acacia Mutual, reports that thu
company has just completed tht
greatest first quarter in its entire
history. Production of new lift
insurance in the. three months to.
tailed $35 .591 ,000-an increase o1
% per cent over the same perioc
last year.
Acacia's total life insurance ir
force has reached $978. 900 900 anc
the company is assured of reach.
ing its objective of a billion dol
lars of life insurance in force by
July, 1950-the goal set by its
field men in honor of Mr.. Mont
gomery.
Capital Store Sales Rise.
Department store sales ir
Washington in the week ending
April 8, the final week before
Easter. were 2 percent ahead oi
the corresponding period a yeal
ago and 5 percent above the pre-
vious week this year. Sales in the
four weeks ending on the same
date were of l percent, the Rich
mond Reserve Bank reported
Sales In the Fifth District In
the same week were unchanged
from last year and were 3 percent
higher than in the preceding
week this year. From January te
April g.. sales were of 3 percent
from last year. ...
Branch To Open In June.
Construction of the new branch
Of the Bank of Commerce & Sav.
ings at 4th and Rhode Islane
avenue NE. is nearly completed
the Office to be opened early ir
June, officers said yesterday.
Facilities will include auto park.
ing space, night depository and 6
"drive-in" window where patron!
can transact business without
leaving their autos. The bank will
be conditioned with design!
and construction similar to thoss
of the Brightwood branch. George
E. Cole, assistant vice president
with the bank Is years, will b.
the branch manager.
Pepco Plans Bond Sale.
President Alfred G. Neal of tht
Potomac Electric Power Co. endee
speculation on financing yester'
day when he announced at the
annual meeting that the company
plans to sell $50 million in bond.
in the near future. He said $2(
million would be refinancing st
that the company will get onlJ
$40 million in new money.
The funds are needed for the
present expansion policy whicr
the company is carrying out II
Alexandria. AS already noted ir
The Star, the company will ap-
peal to the Public Utilities Com.
mission for higher rates. Earn.
ings in the first quarter make thi:
move imperative, Mr.. Neal said.
Favorfte Stocks Reported.
Mackall g. Coe. investment
dealers. are distributing q list o1
the so favorite stocks carried II
about $50 investment trust, port.
folios. as shown by dollar value
Gulf Oil heads the list, followed
by Amerada, International Paper
Continental Oil and Texas Co
Others among the first ten are
General Motors, Dupont, Mont.
gomery Ward. Standard of New
Jersey and North American Co
Leroy A. Peterson, president o
the Otis Elevator Co., will address
Washington Chapter. Nationa
Association of Cost Accountants
Wednesday evening at the Shera'
ton Hotel. following a reception
and dinner.
Thomas N. Leef. general partnel
in Ferris & Co.. has been electes
president Of Washington Rount
Table.
The Society for the Advance
ment Of Management has an elab
crate program for q spring con
ference In G. s. A. Auditorium
opening Wednesday.