Evening star., 1951-07-15

sas'B@ ~ a&'G
Mr.. Sanders Mr.. Hill
or ownership. The TibbittS name,
long familiar in radio advertising,
has been continued since Russell
Tibbitts, former member of the
firm, was lost at sea in World
War I.
The Hill e. Sanders garage at
lila Vermont avenue NV. is one
of the largest devoted exclusively
to sales and service here.
Shows Largest Deposit Gain.
American Security g. Trust Co.
had the largest increase in de-
posits of any bank in the WASH
ington area between the April 9
and June 80 bank calls, its state
ment of condition showed yester-
day. Daniel w. Bell is president.
Deposits of 1892, ,387 $50 on June
80 were up $7,435,948 compared
with April. Assets Of $206. ATS, ,o43
were $7.825, ,454 higher.
Loans and discounts of $65,254,-
593 were $1,652,992 higher, and
undivided profits of $685. OFT rose
$127.253.
Holdings Of Federal obligations
on June 80 amounted to $70,944,-
$50, a gain of $1.392,702.
Bank Debts at Record Levels.
Washington bank debts in June
and the first half of 1851 set new
records for those periods, the
monthly report from the Federal
Reserve Board revealed yesterday.
June's totals of $1,097 ,041, 900
was 3.6 per cent ahead Of the pre-
vious month and 1876 per cent
above June, 1850. The six months
volume Of 385,810,000 was 29.2
per cent above year earlier.
Compared with 1941, the June
total was up 205 per cent and the
six months volume up 216.9 per
cent.
Longer Hours Help Exchange.
Extended trading hours, which
started on the Washington Stock
Exchange on July IS. 1948. have
brought a sharp increase in VOL
ume, President Joseph K. Nc
Cannon III reported yesterday.
Back in 1947 on shorter hours,
only 44,378 shares were traded in
the year. Sales rose to 226,530
shares in 1948. to 242,560 in 1949
and 291 1859 in 1850.
With sales for the first half Of
1851 ahead of 1850. this years
volume should reach or exceed
800, 900 shares.
Manpower Chief to Speak.
DR.. Arthur S. Fleming, assistant
to the Director Of Defense Mobili-
zation (Manpower), will address
the monthly Distribution Round
table luncheon of the United
States Chamber of Commerce at
the Washington Hotel Wednesday
noon.
Directors of the Anacostia Ma
tional Bank have declared two
regular dividends of 50 each, one
payable July 81 to holders Of rec
ord July Is, and the other payable
October 80 to holders of record
October Is. President A. Scott
Ofutt announced. They will raise
total 1851 payments to SO a
share. as special of 81 was paid
in January.
Walter N. Wilson, president Of
Washington Chapter, National
Of Cost Accountants,
has named the following associate
directors for the new year: Fran
els B. Collins, Thomas B. Crigler.
Anthony v. Albemont, Alice A.
Keith Carr. Paul E. Lar
gent, George P. Lewis and Leo p.
McNulty.
Heads ALB WOmen's Unit
Mrs. Dorothy Lanham, a secre-
tary at Second National Bank, has
been named chairman of the
women's committee nor Washing
ton Chapter, American Institute
of Banking, President Ralph H.
Mittendorff announced yesterday.
Mrs. Lanham was chairman in
1945-46, and also has served the
chapter as assistant secretary, sec
retary, secretary and a member Of
the board of governors.
Mrs. Minette Dodd of City Bank
will be vice chairman Of the COM
mittee and Mrs. Jerri Wingfield
Of National Savings & Trust Co..
secretary. Mrs. Sarah Mittendorff
will be an honorary member.
Mrs. Lanham's committee will
hold a beach party at North Beach
today and discuss q program for
,he coming fall.
Washington department store
,ales in the week ended July 7
we're 80 per cent below the pre-
yious week and z. per cent behind
he like 1850 week, the Federal
Reserve Bank Of Richmond re-
ported. Sales in four weeks ended
he same date were 2 per cent
,ehind a year earlier.
The last of the Governments
in the capital of the
l district Federal Home Loan
Banks has been paid back,
William K. Divers, chairman Of
he Home Loan Bank Board, an
lounced. The Treasury has re-
eived SO million from the Home
.oan Banks Of Little Rock and
Ian Francisco, each Of which paid
# a balance Of $5 million. The
anks now are owned 100 per cent
y 3,968 member institutions.
Reconstruction Finance Corp..
las negotiated for $4,000 tons Of
enzol from Germany in exchange
or about 65, 900 tons Of premium
asoline. Benzol. scarce In this
ountry. is used in making syn
hetic rubber.
Lone Star Steel Co. has ordered
lore than 81 million worth Of