Evening star. [volume] (Washington, D.C.) 1854-1972, 1951-05-09

Mr.. Mittendorn. presiden
Ralph H. Mittendorff, assistar
treasurer, American Security
Trust Co.; First Vice Presi
dent Lloyd S. Carey, assist
ant cashier, Suburban Nationa
Bank; Second Vice President vii
liam H. Smith, securities depart
ment, Riggs National Bank, an,
Secretary Ann E. Briggs, Nationa
Metropolitan Bank.
Winning candidates in the con
tests for the other three office
were: Treasurer, William j. Wal
Ter, jr., Hamilton National Bank
chief counsel, Glen Thompson
Riggs National Bank, and assist
ant secretary, Audrey Dorsey, Ma
tional Savings & Trust Co. Fou,
elected to the board were: Jane
B. Ahalt, City Bank; Richars
Freer, Hamilton National; A
Baker Nicholson, National Metro
politan, and Ross Totten, Wash
ington Loan & Trust.
Capital Airlines Net Shown.
Capital Airlines, Inc, had ne
income Of $89,014 in the first thre,
months of this year, compared
with a deficit of $751;, 902 In tn,
same 1850 period, President j. H
Carmichael announced.
Operating revenues scared tt
$8,177,561 VS.. $5,919,6O5 a year
earlier, including passenger reve.
nues of $6,232, 449 VS.. 1887 ,so1
Freight and express revenues were
down to $505, 1893 VS.. $525, 433 ano
air mail revenues dropped to $751;,
822 VS.. $l.455,8 1856. Charter ano
other revenues rose to sos, 37l VS.
only $199,362 a year earlier.
Operating expenses increased tt
$7,957,412 VS.. $6,047,637. Revenue
passengers flown in the period
totaled 369,313 VS.. 24O,97s, ano
revenue passenger miles increased
to l21, 109,52s VS.. 72,090,819.
Treasury Bond Call Delayed.
For the first time in Is years
the Treasury yesterday passed ur
q chance to call bond issue fol
redemption at its first opportunity
1t did call another and smaller
bond issue for redemption, how.
ever, and it also offered a new
series of savings notes at interest
rates well above those recently
prevailing.
The issue on which the call op-
portunity was passed up consists
of 2 per cent bonds put out ir
1943 and due September Is, 1858
The amount outstanding is ST.
986. 262,500.
Secretary Snyder said these
bonds, "callable on September Is
1851, will not be called for re-
demption on that date"
The issue called-the formal
call will come May 14-consists OF
$755 million in per cent bonds
put out in 1881 and due Septem-
Der IS, 1865. 1t is expected to
be refunded by an issue of short
term securities.
The passing of the call oppor-
tunity on 2 per cent bonds was
explained by officials in this way;
A call now would be disadvan-
tageous in view of recent rise.
In interest rates, whereas on pre-.
viouS occasions back to 1888 re.
demption calls have been advan-
tageous because of lower Interest
rates.
Agents to Hold Election.
The District Association of In.
surance Agents will elect new
officers at a luncheon Friday al
the Mayflower Hotel. A record.
breaking vote is expected.
President v. Manning Hoffman
announced the appointment of {
f1ve-man committee to begin pre-.
parations for the 1853 annual con.
vention of the National Associa.
ton Of Insurance Agents, which
will be held here.
Committee members include
Victor o. Schinnerer, chairman
William A. d'Espard, Robert S
Campbell, A. L. Jagoe, jr., and ]
Douglass Wallop, jr.
Electric Institute Speaker.
C. w. Leihy, executive vict
president, Electrical Publication.
Of Chicago, will address a meeting
of the Electric Institute of Wash.