Evening star., 1951-12-11

u - 4
Mr.. DarIinS. Mr.. Smith.
with the Philadelphia chapters
team here Friday night, looks like
a possible contender in this years
national finals.
Hugh Darling and William H.
Smith, both of Riggs National
Bank, defeated Baltimore chap
ter's team before meeting Phila-
delphia, last years national cham
pions. They will meet Richmond
chapter debaters on February 8,
and if they win will go to the ma
tional semifinals at Houston early
in the spring.
Judges for the debate with Phil
adelphia were Miss Roberta Nc
Bride of st. Agnes School, Alex
andria; Selig C. Brez. prominent
retired attorney, and Richard H.
Norris. executive vice president of
Lincoln National Bank.
Inventory Rise Reduced.
Washington department store
inventories at the end of October
were 81 per cent above a year
earlier, the Richmond Federal Re-
serve Bank reported today. Stocks
were Is per cent above year
earlier on September 80 and up
80 per cent on July 81.
Outstanding store orders on
October 81 were 24.4 per cent be-
low year earlier. They were down
49 per cent on August 81 and down
80 per cent on September 80.
The stores collected 442 per
cent of October l receivables on
open accounts during october in
contrast to 49 per cent in october,
1850. They collected 1877 per cent
of october l receivableS on in
stallment accounts in October.
compared with 18 per cent year
earlier.
Regional Office Planned.
The Farm Bureau Insurance
Companies will establish regional
Office at Annapolis as part of its
extensive decentralization plan, 1t
was announced today.
The new Office employing about
210 persons will serve 125,000
policyholders in Washignton,
Maryland, Delaware and Arlington
and Fairfax counties, Virginia.
Moving day for the new Tri-
State Office. which already is
operating at the home Office in
Columbus, Ohio, as been set for
early April. 1t will use space in
the Kotzin building at Annapolis.
John E. Mellon has been named
regional manager. His staff will
include: Julian White, claims;
Robert Huff, underwriting; w. F.
Shanner, personnel; Vaughn B
Mantor, services; Henry Westphal
and Zach Turner, sales.
Mayfower Dividend Voted.
Mayf1ower Hotel Corp. directors
have declared a dividend of 40
cents a share, payable December
20, to stockholders of record De-
cember IL. A SIMILAR dividend was
paid year ago.
District Theaters Corp. has de-
clared regular quarterly divi-
dend of 1914 cents share, pay
able January 2, to holders of rec
ord December Is.
Seaboard Finance Reports.
Seaboard Finance Co. earned
$2,750,844 or $206 share in the
fiscal year ended September 30
VS.. S2,434,017 or $204 in the pre-
vious year.
The years volume consisting Of
loans to individuals and sales con-
tracts purchased amounted to
$122,631 ,320, a gain of $5,622, ,930
from the previous year. The pro-
portion of personal loans to total
volume increased to 1863 per cent
VS.. 619 per cent.
The company has three Wash
ington area Offices at Silver Spring
Mount Rainier and Alexandria
Scott B. Appleby and Frederic N
Towers of Washington are direc-
tors. Frost & Towers, Washington
law firm is general counsel.
Debentures Registered.
Southern Oxygen Co. yesterday
filed a registration with the SEC
for the proposed issuance of $1.4
million of 6 per cent convertible
subordinated debentures.
The registration statement listec
Johnston, Lemon g. Co., as the
principal underwater. Public
offering is expected about tht
middle of January. The deben.
lures will be offered at $40 each
will mature in 1862 and will bt
convertible into common stock.
Proceeds will be used as fol.
lows: $250,000 for advance pay.
ment of 4 " per cent note; $780,
900 for a new gas producins
column; $500,000 for purchase O
machinery and the balance TO
working capital.
Florists Plan Advertising.
The Allied Florists of Create
Washington have appointed Kal
Enrich & Merrick, Inc, to handl
all advertising. Joseph Weinstein
account executive, announced al
intensive program will start befor,
the holidays.
Goldenberg Co. employees will re
ceive Christmas bonus based o.
length of service next week,
was announced by Sol Greenberg
vice president and general mer
chandise manager.