Evening star., 1951-06-28
Accounting Base Approved,

kAGNV4MtAA8 4R05C APREVVCus /.
Stockholders of Washington
Properties, Inc, at q special meet
ing yesterday ratified the directors
proposed accounting base and
heard optimistic reports of the
earnings SO far this year.
Company oficials reported that
the quarterly payment ON May /
had reduced Indebtedness to
$4,212,000. Earnings for the
year to date were described as
"quite favorable" although it was.
pointed out that seasonal factors
make it impossible to foresee re-
suits for the full year.
The company owns and operates
the Wardman Park Hotel. the
Carlton Hotel. an apartment house
at 2700 Connecticut avenue and
an Office building at 1901 Vermont
avenue NV. Frank e. Weakly
is president.
Alexandria Bank Branch.
Citizens National Bank of Alex
andria will open its new uptown
branch at 1927 King street next
Monday with John S. Blanton as
manager. it was announced today.
The Citizens National has grown
rapidly and with assets of $21.-l
365, 900 on April 8, date of the last
bank call. ranked as the largest
bank in Alexandria and the en-
tire Northern Virginia area. It
was founded in 1870 as successor
to the Bank of the, Old Dominion,
and also has a Mount Vernon
avenue branch and facilities at
Fort Belvoir and Gravelly Point.
The new branch win offer all
banking services.
Richard L. Ruffner is president;
George F. Downham. vice presi-
dent and trust oficer; c. C..
Brown and Chester G. Pierce,
vice presidents: Fred I. Cornnell,
cashier; w. Harold Otley. assis-
tant vice president and manager
Of the Mount Vernon Avenue
Branch; Miss Mary Hunt Roberts.
assistant cashier and Miss Mar
garet /. Warwick, assistant trust
ofiicer. In addition to the four
top oficers, directors include:
william w. Hulfish, Urban S.
Lambert, A. Slater Lamond and
John Barton Phillips
Hecht Dividends Voted.
Directors of The Hecht Co.
have declared regular quarterly
dividends Of 40 cents q common
share and 933z cents a share on
the 334 per cent cumulative pre-
ferred stock, both payable July
81 to holders of record July 6.
There were errors in yesterdays
announcement of Washington Gas
Light Co. dividends appearing in
this column. The correct amounts
and dates for the dividends:
$1.l21a q share on the $3.50 Gu
mulative convertible preferred and
$1.06A on the $4.25 cumulative
preferred stock, both payable
August 10 to holders of record
July IS; also 371a cents share
on common stock, payable August
/ to holders Of record July 13.
Bankers May Go on Cruise.
Oficers of the Maryland Bank
ers' Association, are considering a
proposal to hold the associations
annual convention in May. 1852
on a cruise to Bermuda aboard
the luxury liner, Queen Of Ber-
muda. Member banks have been
asked for their, opinions.
The District Building and Loan
League already has decided to dc
the same thing. Its annual meet
ing will be held on q Bermuda
cruise In October.
Members Of the Washington
staff Of the Franklin Life In
surance Co. will attend an Eastern
agency convention at the Green
brier, White Sulphur Springs, W.
va, opening Monday. Attending
from this area will be Mr.. and
Mrs. Joseph Silverman. Mr.. and
Mrs. Wilfred Schooler, Mr.. and
Mrs. Jack Levinson, Mr.. and Mrs
George Harris. Mr.. and Mrs
Morris Rosen and Mr.. and Mrs
Lambert Caswell.
w. Herbert Lamb of Ferris &
Co. and Mrs. Lamb will leave
for q fve-week motor trip next
week. They plan to visit Edmon-
ton, Lake Louise and Banfi
Springs, Canada. and return by
way OF Shasta County. Calf.
Martin A. Cook, secretary OF
Enterprise Federal Savings and
Loan Association, is attending the
annual convention Of the Catholic
WAR Veterans in Albany, N. Y
Mr.. Cook is commander Of The
District CWV post.
Chicago Grain