Evening star., 1951-04-04
S5.6 Billion Purchase
OF New U. 5. Bonds
;aised by Snyder
By Nelson M. Shepard

Snt non-marketable Treasury
ends.
Subscriptions Of $5,365, 900 900
by the Federal Reserve Board and
by the Treasury, as investing
agents for various Government
accounts. lifted the total above $11
billion as of Monday. This means
that private investors have
swapped large holdings of their
marketable 212 per cent bonds
for the new issue. causing Secre-
tary Snyder to comment on the
very good reception"
By Friday, when the subscrip-
ton books close at midnight,
many more millions of small in
vestors are expected to agree to
the exchange. The new offering
was confined to holders of $19.5
billion in the 21a per cent market
able securities of June Is and
December Is, 1967-72.
Insurance Congress Set.
Insurance leaders will address
the Baltimore Washington Sales
Congress sponsored April Is in
Baltimore by the District and Bal
timore Life Underwriters Associa-
tions. The session. from 10 am.
to 4 pm. will be at the Lord Bal
timore Hotel.
General Chairman Fred I. Wun-
derrick, Baltimore Life, will open
the session. G. Cecil Ford, pres
ident, Baltimore Life Underwrit-
ers' Association, will welcome the
members.
A guest speaker will be John J..
Gill of the Metropolitan Life In
surance Co.. New York. He is in
charge of training for Metropol-
ltan. Hilbert Rust, managing edi-
tor OF the Insurance Research &
Review Service. Inc, of Indian
apoliS, will be another speaker, at
3 pm. A panel on Front Line
Selling Slants' will be conducted
at 2 pm. by Mitchell T. Curtis,
Lincoln National: Raymond Nc
Guinness, Home Life, and Paul H.
Primm, Mutual Life, all of Wash
1ngton; and w. Winchester White,
Mutual Benefit; Morris B. Hack,
Metropolitan Life, and Helen Lay
Tall, New England Mutual, all of
Baltimore.
Nugent Named to Post.
Julian j. Nugent has been
named advertising manager of the
Baltimore & Ohio Railroad, sue
ceeding R. Charles Mcclellan,
who retired this week after So
years in the railroad industry.
A graduate of Johns Hopkins
University, Mr.. Nugent joined the
B. & o. in 1912 as clerk and
in 1945 he was named assistant
advertising manager. Mr.. Mac
Lellan had filled the top advertis-
ing post since 1912.
James D. Burnette has Joined
the Connecticut Mutual Life In
surance Co. as a representative
in the Washington area. He will
be associated with the John Lis
ter McElfresh Agency in the
Woodward Building. A Navy vet
eran of the last war, Mr.. Bur-
nette attended the University of
Richmond and is member of
Phi Gamma Delta fraternity.
Greyhound Revenues.
Greyhound operating revenues
totaled $183,716,449 for 1850, ap-
proximating the 1949 level, but
net earnings of $11,849,854, after
all charges. compared with Sill
593 ,280 for the previous year. Net
income was equivalent to SIPS a
common share after meeting pre-
ferred dividend requirements.
At the end of 1850, Greyhound
Lines owned 6,146 buses compared
with 5,693 in 1949. 1t also acquired
Southeastern Greyhound Lines as
OF December 81, 1850.
The Washington Real Estate
Board held it's luncheon meeting
today at the Burlington Hotel and
heard talk by Robert E. Harper,
executive vice president of Ma
tional Business Publications, Inc.
Mr.. Harper spoke on Public Re
lations Means Business"
Marin L. Zuesse, formerly man
ager of the International Mort
gage Corp, was elected secretary
OF the Guardian Building and
Loan Association this week. He
has been active in servicing> and
warehousing for FILA and CT
mortgages for International at
1415 K street NV. Active also in
other fields, Mr.. Zuesse is an asso-
ciate member of the Washington
Real Estate Board. the Silver
Spring Board of Trade and the
Advertising Club of Washington.
G. E. Exhibit Opened.
General Electric Co. opened a
two-day special exhibit at the
Statler Hotel today indicating the
extent to which the corporation
is prepared to contribute to the
defense effort in the way of air
conditioning and heating equip
ment. The hours are from 2 to 10
pm. in the Federal Room.
H. M. Brundage, manager of
the sales division, said the objec-
tive is to show Government agen-
cies and contractors how the prod
ucts Of General Electric can best
serve the interest of national
mobilization. A special feature
on display is new heat pump
for defense housing.
A wide variety of products in
cludes horizontal and vertical fur
naces for low-cost housing and
multiple installations of oil burn
ers to provide more f1exibility and
economy in the heating of tenn
porary military buildings. Con-
siderable attention was drawn by
a transportable air conditioner de-
signed for military use in trailers
for electronic communications
and laboratory equipment. For
the Navy and Army industrial use,
General Electric has made drink
ing water coolers especially de-
signed for ships and plants.