Evening star., 1951-12-21

per straw back in the 1905 and
demand grew so fast that he
didn't have time to develop his
other inventions. He sold his foun-
tain pen patent to Waterman for
5000 and it became world famous.
Mr.. Platt has developed the
straw company far beyond what
his uncle could have dreamed.
Back in 1894 the company made
25 million straws, but now they
don't bother to count them with
machines rolling them out. Ine
company has plants in Baltimore
and Arlington as we'll as in Wash
ington.
In addition to the straw busi-
ness, Mr.. Platt is a valued men,
ber of the board at the NaItonal
Metropolitan Bank and has many
other interests.
Capital Deposits Expand.
Demand deposits of IA reserve
member banks here jumped ST.
294,000 in the week ended De-
cember IL, despite drop of ST.
$4,000 in Federal government
deposits. the Federal Reserve Bank
of Richmond disclosed. Deposits
of individuals, partnerships and
corporations were up $17,795, 900.
Demand deposits on December
II totaled S908. .827 900, a jump of
S60.280.000 from the like 1850
date. Deposits of individuals,
partnerships and corporations
amounted to S8l1 ,935, 900, a rise
of $50, 100000 from a year ago.
Outstanding loans showed little
change in the week, with the
total up $667.00O, commercial
loans up $1,2o8,0OO, real estate
loans down $4,000 and other
loans. mostly consumer loans, off
$252,000
Takes U. S. Chamber Post.
George H. Sandefer, controller
for MICS radio and television
stations in Washington, has been
appointed director of radio and
television for the United States
Chamber of Commerce, effective
January l.
Starting in radio over IA years
ago. Mr.. Sandefer was first a guide
and sound effects man for Sta
tions WMAL and WRC, then NBC
Blue and Red network outlets
here.
Arthur Hamilton has been Sc
lected to succeed Mr.. Sandefer.
He has been chief accountant of
the NBC Owned-and- Operated
Stations Division in New York
and has been with NBC since 1912.
McLachlen Party Tonight.
The Christmas party of Nc
Lachlen Bank Corp. will be held
at the Shoreham Hotel tonight.
Dinner and dancing are on the
program. The banks usual Christ
mas bonus has been distributed.
The National Savings & Trust
Co. has beautiful Christmas tree
in its lobby and employees, Off
GERS and customers are piling up
Christmas baskets for the needy.
American Security g. Trust Co.
has installed an organ in it's
downtown lobby and Marvin
Fewell is entertaining with Christ
mas music.
Among additional firms dis
tributing Christmas bonuses are:
The Kopy Kat, S. N. McBride's
variety store. the Stern Office
Furniture Co., the Valley Forge
Distributing Co. and the Weather.
Master CO.
Insurance Group Elects.
The Life Insurance General
Agents and Managers Associa-
ton has elected ]. Mitchell Owens,
c. l.. u, president.
Other officers: William j. Hag-
gerty, vice president; Raymond
H. Godine, secretary treasurer
Jack Outcalt and Vernon Zimmer-
man were elected directors.
The $7.525,000 Offering of Mont
gomery County various-purpose
bonds, placed on the market this
week, is going well, dealers re-
port. Ferris & Co. of Washing
ton and Merrill Lynch, Pierce,
Fenner g. Beane and Bache &
Co., which have offices here, were
members of the syndicate market
ing the issue. The bonds mature
am 1853 to 1882 and are priced
TO yield 1.25 per cent to 90 Der