Evening star., 1950-04-13
Telephones and Calls
Both SET New Records
Here During March
Ry Edword G, Stone

By Edword c. Stone
Two more all-time records were
set by the Chesapeake & Potomac
Telephone Co. in March, officials
reported today.
indicative of the present high
business levels prevailing in the
Capital, average daily calls num-
bered 2,308,30 as compared with
2,189,760 in March of last year,
an increase of 1854 calls per
day, and also an all-time record
for the month.
Telephone stations in use in
March climbed to 471,135 in COM
parison with 450,959 phones in
service during March, 1949, a gain
of 20,176 during the - months
and a new all-time high mark.
The report also reveals that
1913 new stations we're installed
during February.
Quarterly Dividend Voted.
Directors of the Washington
Loan g. Trust Co. have declared
the regular quarterly dividend of
3 per cent, payable May l to
stockholders of record April 20.
Connecticut Mutual Life has
passed the 81 billion mark in in
Surance in force. 1t took 80 years
to reach the first billion but less
than IL to get the second billion.
Bids for construction of the
1.275-room Statler Hotel in Los
Angeles will be opened May IS in
New York. The hotel will en-
ploy 1900 men and women.
Home Financing at Peak.
February was the third highest
month in history for construction
loans made by building and loan
associations, the National Savings
and Loan League reported here
today. The amount was $107,-
335, 900.
Home purchase loans so far this
year are running Al per cent above
the spring of 1949, the report
stated.
Mortgage lending volume has
been running over $500 million for
nine consecutive months.
Savings in insured associations
have recently increased 1877 per
cent over last year.
Bank Loans Up Sharply.
The Richmond Reserve Bank
today reported a gain of $3,304 900
in total loans in Washington
member banks for the week end
ing April 5.
Commercial loans were up So
433,000 and real estate loans about
81 million. Total assets revealed
a gain of more than So million
during the week.
Demand deposits disclosed a
pickup of SO million while time
deposits showed the best improve
ment in several weeks. The up
turn totaled $1,380,000.
Essay Winners Announced.
Norman H. Barnes, vice presi-
dent of the Sales Executives Club
of Washington. today announced
the following winners of the third
annual essay contest:
Ernest j. Szetela, st. Paul's
Academy. first; Edward j. Hickey,
st. Johns College High School.
second: Warren Usher, Hyattsville
High School, third; George Robil-
lard, Gonzaga High, fourth; Betty
Jean Porter, Greenbelt High,
fifth; Kathleen Lucey. Notre
Dame Academy, sixth.
Judges were Jennings Ran
dolph, Capital Airlines; John A.
Reilly, president, Second National
Bank; Nathan A. Bailey, Ameri-
can University.
King Made Traffic Manager.
Rodney w. King has been ap-
pointed Eastern Airlines' general
traffic manager, succeeding R. L..
Turner, it was announced today
by Capt. Eddie Rickenbacker,
president and general manager.
Frank Sharpe. Mr.. Kings assist
ant, will also join Eastern Air
Lines.
Mr.. King Joined American Air
Lines in Boston in 1884, shortly
after leaving the Massachusetts,
Institute of Technology Since
that time he held responsible posi-
tions with American in Washing
ton, Chicago and New York.
Business Leaders HOnOred.
New York University has pre-
sented commercial honor degrees
to Charles E. Merrill, head of
Merrill Lynch, Pierce, Fenner &
Beane; Charles Edison, James A
Farley, Walter Clifford, Paul G
Hoffman, Philip D. Reed, Alfred
P. Sloan and Thomas j. Watson
Horace w. Nelson has become
the third member of the Du Foul
Agency, Pacific Mutual Life, tc
win membership in the Million
Dollar Production Club. He is g
member of the District Bar anC
a leader in the Mormon Church
in Washington.
Charles E. Phillips and Gilbert
c. Clark, officers of the Equitable
Life Insurance Co. of Washing:
ton. are attending an insurance
conference in Boston arranged by
10 Bay State companies. Thomas
B. McCabe, Federal Reserve
Board chairman, was banquet
speaker.