Evening star., 1951-02-11

Mr.. Tate joined the Southern as
a clerk in LaFollette. Tenn, in
1901 and was transferred to the
accounting department Of the sys-
tenn here in 1907. He served with
5he United States Railroad Admin
during World War I and
became treasurer of the Southern
in 1945.
A native of Washington, Mr..
Chew Joined the Southern as q
clerk in 1908 and became assistant
treasurer in 1945. Mr.. Smith is
q native of Alexandria and joined
the Southern as messenger in 1920.
d. C. Budget Being Combed.
The prospective $136,77s, 500
District budget for the year be-
ginning July l Is being given q
thorough going over by the Wash
ington Board of Trade in an effort
to discover what appropriations
could be substantially decreased.
The new budget represents an
increase of $16,755,119 or IA per
cent from the present fiscal year,
would force the District to spend
most of its surplus of more than
$12 million. and might make it
to raise $12 million Of
new taxes in the following year,
Trade Board officials said.
Work on the budget was one Of
eight major objectives Of the
board. on which President Thorn
ton w. Owen last night reported
progress.
AS part of an Aid to Business
objective, a committee is expected
to draft definite recommendations
shortly for development of an ac-
ceptable Unemployment Compen-
sation Law here, while another
committee is working with the
Census Bureau on plans for sur
vey OF the Washington market.
Such a survey will be of great
assistance to businessmen and
planning groups. Mr.. Owen said.
Annual Meeting in Bermuda.
The annual business meeting
and election of officers Of the Dis.
trict Building and Loan League
will be held away from the city
for the first time in it's history, II
was learned last night. This
years meeting scheduled for Oc-
tober will take place in Bermuda.
Around 225 officers and direc-
tors of the league, with their
wives. will make the trip on the
new luxury liner. the Monarch.
sailing either from Washington
or Baltimore on October 13.
Arrangements for the boat trip
are being handled by John E.
Smith. jr.. of the United States
Travel Agency. BOT Fifteenth
street NV.
Curb Governors Pleased.
Edward T. Mccormick. SEC
commissioner. who will become
president of the New York Curb
Exchange on April /, will 60 into
his new Office with strong sup
port from the Board of Governors
and the good wishes of his pred
ecessor. Francis Adams Truslow,
it was learned last night.
One of the governors said the
board acted unanimously in in
viting Mr.. Mccormick to- the posi-
ton and was much pleased by his
acceptance.
Mr.. .Truslow, who will retire on
April to accept an important
Government assignment Of an un-
disclosed nature, and recon-
mended the appointment of Mr..
Mccormick as his successor, told
The Star last night that the new
president was very progressive
man and a liberal in the finest
sense.
Ad Men to Hear Larrabee.
Carroll B. Larrabee. president
and publisher of Printers Ink,
will address the Advertising Club
at a luncheon meeting at Hotel
5tatler Tuesday, President WILL
am Sigmund announced. Mr..
.arrabee's subject will be "Adver-
Using in a Wartime Economy"
The Fiduciaries Section of the
District Bankers Association will
hold a dinner melting at the Will
lrd Hotel on Tuesday, February
70, Herman G. Lauten of the Ma
ional Savings & Trust Co., Sec
ion chairman, announced. John
.. Powell of the law firm of Minor.
iatley and Drury will speak on
Estate Planning"
The American Bankers Asso.
'lation will hold its annual Saw
ngs and Mortgage Conference in
New York March S and 6. In addi-
ion to banking leaders, speakers
will include William H. Scheick,
director, Building Re-
search Advisory Board of the Ma
,ional Research Council; Thomas
). Holden, president, F. w. Dodge
Corp, and DR.. Marcus Nader.
professor of finance, New York
University.
Auto Tax Boost Opposed.
The proposed 200 per cent in
crease of the excise tax on new
passenger cars will make it impos-
sible for millions of motorists in
,he low and middle income brack-
IT'S to buy urgently needed auto
mobiles. r. D. Mckay. president
If the National Automobile Deal
ers Association, declared last
night. His statement followed an
meeting of the associa-
ions Public Affairs Committee
mere.
In common with other securities
of the Nation, the
Stock Exchange will
oe closed tomorrow in observance
# Lincoln's Birthday. ..