Evening star. [volume] (Washington, D.C.) 1854-1972, 1951-01-29

q refund for 1948 already has
been received and others are pos
sible.
Bank Deposits Up.
Deposits of Montgomery Coun-
tvs II banks Jotaled 80,521 1852
at the end of 1850, an increase of
$11,917,452 or ia per cent during
the year, according to statistics
issued today by Fred L. Lutes,
president of the Suburban Ma
tional Bank, Silver Spring, Md.
Indicating how the rapid growth
of the county has stepped up
financial assets, the condition OF
December 80, last. compared with
an increase Of 1913 per cent or
$6.682,763 during 1949.
Mr.. Lutes complies statistics
twice a year from the published
statements of the banks in Mont
gomery County. Other figures of
Decmeber 80, 1850, reveal these
trends:
Capital funds of the banks
showed a corresponding increase
of 81 per cent, now standing at
$5,593,38 During the year 1949
they had increased only 5.04 per
cent.
Examining the breakdown of
the deposit figures, Mr.. Lutes finds
that savings of 1850 showed an in
crease of 9.8 per cent or S2,104.910
against an increase of only 81
per cent during 1949. CONNIE .cial
privately owned deposits incl eased
l5.7 per cent or $6,256, 908, while
the public deposits Of the county,
inter-county and Federal Govern
ment, showed the largest increase
of all-49 per cent or $685., 634.
Old Dominion Growing.
The Old Dominion Bank of
Arlington had a record year in
1850 with assets on December 81
totaling $13,194,815 VS.. $l0.549.-
585 at the end of 1949, President
Edwin T. Holland reported. De-
posts of S12,335,713 were Is per
cent above $9,S64, 1888 a year earlier
and loans and discounts reached
Sc, 1873 800 VS.. $4,695, 420.
A common stock dividend Of 5
per cent was paid to holders of
record December 80 and the bank
paid 10 per cent of gross earnings
before income taxes to employees
and officers under the profit-shar-
ing plan. The bonus is paid out
each month, based on the previous
months earnings.
All officers and directors were
reelected at the annual meeting.
Retailing Courses Offered.
The Division of Business
Studies, American University, will
offer three retailing courses in its
spring session.
Mrs. Lee Walsh, director of ad-
vertising and public relations Of
Julius Garfinckel & Co., will
teach fashion in retailing; Ferd
Nauheim, Washington sales con-
sultant, will offer retail salesman
ship, and Howard H. Bell, sales
promotion manager of The Eve
ming Star Broadcasting Co, will
teach sales promotion. The
classes will meet once a week for
16 weeks.
The university division also an
nounced it's spring evening pro-
gram in accountancy will include
courses on CPA review and sys-
tenn design and installation, con-
Quoted by Robert w. King, agency
accounting officer of the Housing
and Home Finance Agency, and
Davis S. Fields, assistant profess
sor of business administration at
the university.
Capital Agency Hoonred.
The c. Carney Smith Agency of
the Mutual Benefit Life Insurance
Co. of Newark qualified for one
of the company's top honors in
1850. The agency was one of
three of the company's 70 to earn
an award for outstanding train
Ing and development of new
agents.
Philip c. Tenant, il, of the
Mutual Life Insurance Co. of New
York agency here. held sixteenth
place among the company's lead
ing producers during 1850.
Harry M. Pitzer, jr., of the r. c..
Gilmore Washington agency of
Bankers Life Co., Des Moines, has
become a member of the COM
pany's quarter million dollar club.
Raymond j. Richards of the
John Hancock Mutual Life In
surance Co. has completed a two
week course in life insurance pro-
gramming at the John Hancock
home Office in Boston.