Evening star., 1950-04-10
Women Own g Pei.
OF Washington Gas
Liqht Co. Shares
By Edword G. Stone


Women constitute the largest
single group of Washington Gas
Light Co. stockholders, owning 80
per cent of the outstanding shares,
1t was announced by company
officials today.
Men own % per cent, while
joint holdings OF men and women
account for 10 per cent. Total
stock now held in the Washington
Metropolitan Area totals 435.482
shares, or 61.2 per cent.
The company reports total of
$3.50 stockholders, over 5000 or
SO per cent of whom live in this
area. About 80 per cent of the
preferred stock and SO per cent
of the common is held by residents
Of Washington and nearby Mary
land and Virginia.
The analysis shows that 10 per
cent Of the outstanding shares are
owned by individuals and families.
Trustees. guardians. executors,
business firms, charitable, relig-
ious and educational institutions
hold substantial amounts, as do
many other organizations, includ-
ing retirement funds.
The company has 712.000 shares
outstanding. the largest stock
holder owning less than 2 per cent,
this being a Washington trust
company. The average common
stock holding is 81 shares. Some
stock is held in every one of the
48 States, officials said.
Banking Bills Reviewed.
D. j. Needham, general counsel
Of the American Bankers Associa-
ton, has reviewed for State Secre-
taries the status of banking bills
now pending in Congress.
The bill, which would provide
for small business co-ordinator
In the executive Office of the
President, has been reported by
the Senate Banking and Currency
Committee and is pending on the
Senate calendar.
The bill, increasing the borrow
ing authority of the Commodity
Credit Corp. by 2 billion, has
been reported by the House Bank
Ing and Currency Committee.
The Federal Deposit Insurance
Corp. bill, as passed by the Sen.
ate. is now before the House
Banking Committee. The measure
would increase insurance coverage
from $1,000 to $4,000.
The Senate Banking Committee
recommended that no insurance
increase above $4,000 ever be
made as it Should never be the
policy of Congress to guarantee
the safety of all deposits in all
banks"
Bank Assets at New Peak.
Total assets of all insured COM
mercial and mutual savings banks
reached an all-time peak of
$170 billion on December 81, 1949,
Maple T. Harl, chairman of the
Federal Deposit Insurance Corp,
announced today. This exceeded
by 81 billion the previous high
attained in 1945 and it was 81
billion above the total at the be-
ginning of 1949
William A. Twombley, jr., has
been named regional group man.
ager of the Home Life Insurance
Co. Of New York, in the area
which includes Washington. He
Is a member of the National AS
sociation of Life Underwriters and
the Life Insurance General
Agents and Managers Associa-
ton of Washington. He attended
William and Mary College and
Johns Hopkins. His Office will be
In New York.
Some Washington brokers are
opposed to the four month Sat-
urday closing adopted by the New
York Stock Exchange. Govern
ment workers are free on Satur-
days and visit the offices here in
very large numbers to make in
vestments.
Oflice Managers Appointed.
The Chicago 81 Eastern Illinois
r R. will open a Washington
Office in the Investment Building.
in charge of w. H. Peake. jr.. for
merly with the Pennsylvania Rail
road.
Ludlow King has been appointed
manager of the Washington
branch of Owens-Corning Fiber
glas Corp. to succeed Reeve K.
Biggers. promoted to the New
York Office. Mr.. King has been
here since 1945.
H. w. Cook, Ford sales manager
here. r. K. Norton and H. G.
Shelley, will attend four-day
sales conference in New York this
week.
Freight transported by motor
carriers in February deceased 81
per cent from January. but in
creased Is per cent over February,
l949.
Capital Transit stockholders
were very much interested in to-
days election of five new directors.
Results appear elsewhere in The
Star.
Chicago Grain