Evening star., 1950-05-24

James Z. wilson, president, First
Bank & Trust Co, Perth Amboy
N. j.. to talk on "A Country Bank
er Looks Ahead"
DR.. Marcus Nader. professor OF
banking and finance at New York
University. will consider the out
look for Banking and Business. "
DR.. Nader holds a record in the
number of bankers meetings he
has addressed.
Donald r. Belcher, treasurer of
the American Telephone & Tele-
graph Co.. New York. will speak
on The Telephone in the Amer
ican Scene"
Election of officers. reports, the
annual dinner, the past presi-
dents dinner. sports contests and
receptions will round out the pro-
gram. one Of the best in years,
officials believe.
Rights Expire Tomorrow.
Washington Stock Exchange
officials were swamped again to-
day by the trading in Potomac
Electric Power rights. The rights
expire tomorrow afternoon at 3
o'clock.
Yesterdays trading totaled &c.
ATS rights, one of the heaviest of
recent sessions. The turnover in
these warrants on the exchange
has exceeded all expectations, the
activity being due to the very
large amount of Potomac Electric
Power common stock now being
held in this vicinity.
Miss Helen Gervais Of Wash
ington has been reelected secre-
tary of the Flour Millers' Export
Association, the annual meeting
being held in Chicago. She has
been associated with the organi-
zation since 1914.
Maryland Banker Promoted.
James w. McElroy recently was
elected first vice president of the
First National Bank of Baltimore.
He was formerly with the Balti-
more Federal Reserve Bank and
the Eutaw Savings Bank: also is
a past president of the Maryland
Bankers Association.
Robert B. Hobbs. who has re-
signed as vice president of the
Bankers Trust Co., of New York,
has been elected vice president
of the Baltimore bank. He was
formerly with w. w. Lanahan &
Co., Baltimore. and in 1912 was
assistant to the Secretary of the
Treasury in Washington.
William H. Gideon. vice chair
man of the board of the Union
Trust Co., Baltimore. has retired
after so years banking service.
Stock Melon Declared.
Directors Of Government EN-
ployes Insurance Co. have de-
clared a stock dividend Of 1921
per cent on the capital stock,
President Leo Goodwin an
nounced today; also the semi
annual dividend of SO cents a
share. payable July 81 to stock of
record July Is.
The stock melon will be paid
on July / on the basis of one new
share for every six shares held on
June Is. This is the third con-
secutive year in which the COM
pany has voted stock dividend.
The company's new office build
fng at Fourteenth and L streets
NV. was opened for inspection
yesterday afternoon when about
1000 guests enjoyed reception
by officials and directors.
Demand Deposits Rise.
Demand deposits in Washing
ton member banks in the Federal
Reserve System showed gain
OF $17,779, 900 in demand deposits
In the week ending May II, the
Richmond Reserve Bank reported
today. During the week the banks
were large buyers of Treasury
Bills and Treasury Certificates.
Total assets stepped up.
Radio Station WWDC plans a
campaign to promote the sale of
portable radios in the Washing
ton area, opening tomorrow.
Charles T. Akre, tax lawyer, will
address a group of life under
writers at the Burlington Hotel,
Friday noon.
w. I. Cleveland, manager of the
D. c. Division, American Automo-
bile Association. reports that
Africa showed the largest gain in
autos last year, 25 per cent, fol-
lowed hV Asia with % ner cent