Evening star., 1952-05-09

ne held prior to becoming preS1-
dent.
Other officers elected by the as
sociation were: George E. Bond,
first vice president; A. L. Jagoe,
jr., second vice president: Herbert
M. Pasewalk. secretary; Robert v.
OXenhan, treasurer.
Elected to the board of trustees
were: j. Douglas Wallop, jr.,
Samuel S. Kaufman, Huntington
T. Block, Charles r. Barker, jr.,
Louis P. Crowley and Edward K.
BachSchmid. Mr.. Wallop and Mr..
Kaufman will serve their second
terms on the board.
Hecht Controller Named.
Appointment of Richard w.
McEwen as controller of The
Hecht Co., Washington, was an
nounced today by Harry M. Davi-
dow, vice president and general
manager. He was formerly assist
ant controller Of Davison-PaxonI
Co., Atlanta. At Hecht's. he will
be under the direction of Walter
E. Reitz, Jr., executive controller.
Department store sales in the
Filth Reserve District last week
were l per cent under a year ago.
This was the first dip in six weeks
reported by the Richmond Federal
Reserve Bank for the area.
Washington's sales were up 2
per cent last week over a year ago.
They were also / per cent ahead
OF a comparative four-week period
ended May S, 1851.
Bank Loans Turn Down.
Outstanding loans Of IA Wash
1ngton reserve member banks de-
cllned in the week ended April 80.
while demand deposits and invest
mentS turned moderately higher,
the Federal Reserve Bank of
Richmond reported today.
This was reversal of the trend
In previous weeks. Loans of 1922
$4,000 on April 80 were 81 ,656 900
below week earlier. but $685.
900 above four week earlier. They
also were $4,939, 900 above the like
1851 date.
Demand deposits of 1878, ,532, 900
were up $3,550.000 in the latest
week, but $26, ,995 900 lower in the
four weeks. They remained $40,-
$4,000 above a year earlier.
Investments of $531 1926, 900
were up $3.836,000 in the week,
down $13,654,000 in the four
weeks and $27.816,OO0 above a
year ago. ,.,e: 81 go. F.. ]
Included in the loan total was
S138,145.000 Of commercial loans,
down $691 900 in the week, up
$3,288,000 in four weeks and
$2,647.000 below the like 1851
date.
Peoples Drug Sales Gain. ]
Sales Of Peoples Drug Stores.
Inc. amounted to $4.312,188 in
April. a gain of 9.3 per cent from
$3.954,87 in April. 1851, the COM
pany reported yesterday.
Sales in the first four months
of this year aggregated $17.258,-
$50, an increase of 9.3 per cent
from $15,793,321 in the same
period last year.
The company operated 149
stores last month. compared with
143 in April. 1851.
League Plans Annual Dinner.
The annual dinner of the Dis
trict Building and Loan League
will be held at the Prince Georges
Golf and Country Club on Tues
day. May 20, it was announced
by Joseph p. Burke, jr., chairman
for the event.
Around 200 from member as
sociations and guests will attend.
An afternoon golf tournament
will precede dinner and a floor
show and other entertainment will
follow.
The Maryland Bankers Associ-
alton will hold it's annual conven-
ton at Chalfonte-Haddon Hall,
Atlantic City, N. j.. May 1927.
and the Virginia Bankers ASsocia-
ton will have its convention at
Hotel Roanoke at Roanoke, Va,
May 1928. ~
Branch Opening Planned.
The Alexandria National Bank
will formally open the new build
ing of it's Northwest Branch in
the Harrington business center. to-
morrow afternoon from 4 to 8
o'clock, President Howard w.
Smith announced.
L. S. Thomas is assistant cashier
and manager Of the branch, which
has operated in temporary quar-
tiers within a block of the new
building since october. 1916.
The attractive two-Story build
ing has drive-in window, safety
deposit boxes and other modern
features. A large parking lot has
been provided.