Evening star., 1951-05-07

ate Small Business Committee. He
will advise the 500 retail eXecu-
tlveS, educators and students how
merchandising organizations can
maintain operations under cur
rent government regulations.
The conference has been ar
ranged by the University's College
of Business Administrator in CO.
operation with II chambers of
commerce and retail associations
including:
The Washington Merchants &
Manufacturers Association, Retail
Merchants Association of Balti-
more, Maryland Council of Retail
Merchants. Chambers of Com
merce at Annapolis, Bethesda,
Cambridge. Cumberland, Frederick,
Prince Georges County and Ar
lington, the College Park, Eaton,
and Hyattsville business aSsocia-
tions, the HagerStoWn Retailers
Bureau, Salisbury Merchants Asso-'
citation. Silver Spring Board of
Trade and the Alexandria Mer-
chants Association.
Advertising Men to Speak.
Speakers will include fve-man
team of New York advertising eX-
pertS: Howard P. AbrahamS, man.
ager sales promotion division, Ma
tional Retail Dry Goods ASSocia-
ton; Walter L. Dennis, television
and radio director for Allied Stores
Corp; H. Norman Neubert, mer-
chandise manager for National
BroadcaSting Co.. Karl Moore,
director retail division, Bureau of
Advertising, and DR.. Charles NJ
Edwards, dean of the New York
University School of Retailing.
Other speakers: Bernard W..
Smith of New York, Joseph N.
Kallick, director, consumer goods
division, Office of Price Stabiliza-
ton; Edward B. eagle, executive
controller, Hochschild, Kohn &
Co. of Baltimore; Walter Reitz,
jr., of the Hecht Co., Washington;
John J. McGrath of Macy's, New
York: James H. Kahlert. vice
president. Abraham & Straus.
Gas Earnings Above 1850.
Washington Gas Light Co. had
net income of S1,504,140 in three
months ended March 81 VS.. ST.
1895 in the same 1850 period,
the company reported. Consoli-
dated net for the company and
subsidiaries reached Sl,864,144 VS..
$1456,917.
The earnings figures excluded
all funds derived from the rate
increase voided by court action.
Gross revenues for the COM
pany itself reached S7,420694 I'M
the three months VS.. S., 958,180I
a year earlier. while those for the
company and subsidiaries totaled
$10,087,237 VS.. $7619,775.
Operating expenses of the COM
pany in three months totaled So
1896 VS.. S4,851 ,469 and for the
system, $7973,580 VS.. S6,129,560.
March net for the company was
$315,965 VS.. $371,861 a year ear
lier, while the systems net for
the month was S515,65 VS.. $780,
Isl.
Capital Accounts Grow.
The Nations 1904 State COM
mercial banks plowed back $254,-
$4,000 of current operating earn
ings into their capital accounts
last year, according to the goth
annual study made by the State
bank division of the American
Bankers Association.
This amount remained from a
consolidated net profit of SAIL
476,000 after declaration of divi-
dends totaling $167,092,000. The
average cash dividend declaration
on common and preferred stock
was equal to $310 for each $100
of capital funds.
The ABA report shows that the
number of State-supervised banks
in the 48 States and the District
at the close of business, December
81, 1850 was 9,593, of which 9,064
were State commercial banks.
These State commercial banks
included loan and trust COM
panies, private banks. stock saw
ings banks, industrial banks, and
cash repositories. The remaining
State supervised banks were 529
mutual savings banks.
The Importance of State
chartered banks in the Nations
economy is shown by the fact
that their consolidated assets at
the year-end amounted to $94,-
412,812,000 for the 1888 institu-
tions, compared with combined
assets of $96,975, ,284,000 reported
for the 4,958 federally chartered
national banks.
Mortgage Bank Suggested.
Formation of central mortg-
age discount bank is being studied
by Realtors as long-range solu-
ton to recurring shortages OF
mortgage funds for financing real
estate and construction, Alex
ander Summer, Newark, president
of the National Association of
Real Estate Boards, said today.
He spoke before the Atlantic
City convention of the National
Association of Mutual Savings
Banks.
Our real estate industry needs
q permanent mortgage discount
bank, not as a crutch," Mr. Sum-
mer said, "but as logical develop
ment in the growing financial op-
erations that sustain our great
building and city development ac-
tivities," he declared.
"a mortgage discount bank
should be a conservative institu-
ton, organized under a Fedora
charter, but owned and operated
by the mortgage lending institu.
tions of the country" he said
"These institutions should have
the right to sell their mortgages
if they so desire, to the centra
mortgage discount bank in som'
nronortion tn their stock intereS