Evening star., 1951-04-12

shares, left a
balance of TO-
596 shares to be Mr., Overs
marketed publicly by an under
writing group headed by Johnston,
Lemon & Co. of Washington and
First Boston Corp.
Underwriters revealed plans to
offer the remaining shares at
243s net. subject to Securities and
Exchange Commission approval.
They reported full order books
indicated a scramble for the
publicly offered shares.
/ The company's offer expired at
3 pm. yesterday. but late sub
scriptiens received by mail kept
the company and underwriters
busy far into the evening. Mr..
Overs said the company was
gratified with the response Of
stockholders and the success of
the financing.
Washington bank debts snapped
back to within 2 of l per cent of
their all-time January record dur
p ing March and were 35 per cent
above March. 1850. the Federal
Reserve Bank of Richmond re-
ported today.
The March total of $1,129,079,
900 set new record for that
month, was 22.2 per cent above
: the previous month and whop-
ping 1898 per cent above March
in prewar 1941. The all-time rec
ord in January this year was ST.
131, ,278,00o.
Debts in the first three months
of this year reached a new high
for the period, totaling $3,184,-
10000, an increase of 81 per cent
from a year earlier and 231 per
cent above the same 1941 period.
Conference at Baltimore.
Life insurance men from this
area will attend an all-day sales
congress in Baltimore tomorrow
at the Lord Baltimore Hotel.
The program will include such
speakers as Isaac S. Kilbfick of
Boston, New York Life Insurance
Co.; John J. Gill of New York,
Metropolitan Life Insurance Co.,
and Hilbert Rust, Insurance Re
search & Review Service. Inc, of
indianapolis, Ind.
Three statesmen from Washing
ton and three from Baltimore will
be members of a panel discussing
Front Line Selling Slants" The
Washington members of the panel
are Mitchell T. Curtis of j. D.
Marsh & Associates, Roy Guinness,
Home Life of New York, and Paul
H. Primm, Mutual Life of New
York.
Victor o. Schinnerer, PRESIDENT
of the insurance agency bearing
his name, will represent the Dis
trict Association of Insurance
Agents at a meeting of the Ma
tional Board of State Directors of
the National Association of Insur-
ance Agents at New York next
week.
Banks Declare Dividends.
Directors of the Washington
Loan & Trust Co. yesterday de-
clared a quarterly dividend of 8
per cent on company stock, pay
able May l to holders of record
April 20. President Alfred H. Law
son announced. Books will be
closed for transfer of stock from
April % to May /, inclusive.
Directors of the National Saw
ings & Trust Co. yesterday de-
clared regular dividend of 81 a
share and an extra dividend of
81 share. both payable May l
to holders of record at the close
of business. April 20, President
Bruce Baird reported.
Bond Promoted by B. & o.
William H. Bond, assistant
superintendent in the dining car
and commissary department of
the Baltimore & Ohio Railroad
here. has been promoted to super
11lUC11OC1lG VI tI1C Will
headquarters in Baltimore.
Mr.. Bond will succeed Edward
H. Sherman, who has retired after
40 years of service with the road.
Mr. Bond is a native of Annapolis
and started with the B. & o. as a
dining car steward in 1929 He
was promoted to dining car su-
pervisor in 1945 and became as
sistant superintendent here at the
start of 1916.
ABA Speakers Announced.
Merlyn S. Pitzele, labor editor
of Business Week magazine has
been added to the speakers list
for the Bank Manpower Confer
ence of the American Bankers
Association at Chicago April 26
and o.
Other speakers will include
James E. Shelton of Los Angeles,
ABA president; Col. George A..
Irwin, chief of the field division,
Selective Service System; Robert
c. Goodwin, executive director of
the Defense Manpower Admins
tration at the Labor Department;
Harry Weiss, Economic Stabiliza-
tion Agency; C. Francis Cooke of
Roanoke. ABA vice president.
Du Mont Manager Named.
2. Soucek has been appointed
manager of the Washington office
of Allen B. Du Mont Laboratories,
Inc. His Offices are in the De
Sales Building.
Peake Motor Co. at 4505 Wis
consin avenue NV, celebrated its
10th anniversary last night at a
dinner at the Woodmont Coun-
try Club. President I. A. Peake
announced a profit sharing plan
for all employees with more than
five years of service. More than
half of the employees will benefit.
A~-La3 Ava.~~.