Evening star., 1952-10-22
Hecht Go. 0fferinq
OF S3.9 Million Sold
Within Three Hours
By Nelson M. Shepord

Net proceeds of approximately
$50 million accruing to the Hecht
Co. from its successful financing
of additional common shares will
become available for expanding
the stores facilities, as we'll as
working capital.
Yesterdays public offering OF
$4,000 common shares at 29ls
by a group of underwriters headed
by Goldman, Sachs g. Co., was
reported oversubscribed within
three hours. Washington broker
age firms participating handled q
large block of the shares.
The Hecht Co.'S net sales, in
Guiding those of consolidated SUBJ
salaries. were $92,088,382 during
the fiscal year ended January 81,
1852. Net earnings of $3.084. .789
after preferred dividends. were
equal to $3.87 a share on 748,176
common shares outstanding on
January 81. The Hecht Co. has
paid dividends on common stock
since its first general public offer
ing OF stock in May, 1914, it was
reported.
Dividends aggregating $1.65 a
common share were paid on jan
uary 81. Two dividends each of
45 cents a share have been paid
this year and another Ascent
dividend is payable October 81
to stockholders of record Oc-
tober 8.
Washington brokerage firms
participating in this latest public
Offering included Merrill Lynch,
Pierce, Fenner & Beane; Alex.
Brown & Sons; Johnston, Lemon
& Co.: Stein Bros. & Boyce; Auch-
incloss. Parker & Redpath; Folger,
Nolan. Inc; Ferris & Co.; Good
wyn & Olds: Robert c. Jones &
Co.: Mackall & Coe and Robin
son & Lukens.
Loan League Dinner.
More than 200 savings and loan
leaders will attend the annual
business dinner meeting of the
District Building and Loan League
next Tuesday at the Shoreham
Hotel. A nominating committee
headed by Fred A. Smith will pre-
sent slate of officers and direc-
tors for the ensuing year.
The principal speaker will be
cl ~ 40 nov
columnist. William H. Dyer,
president Of the league, will re-
ceive invited guests at a social
hour before the dinner.
Chrysler Corp. will unveil the
1858 line of Plymouth cars to it's
Washington dealers Friday at the
Shoreham Hotel. R. C. Somer-
vile. general sales manager of
Plymouth division announced
the showing will begin with a
luncheon at 1890 pm.
The preview will be conducted
by B. K. Steele. assistant general
sales manager of Plymouths field
division. assisted by F. w. Yale,
4CS4OAAdI AAoAAdSCAs
Credit Executives to Meet.
The Chesapeake Chapter of
Robert Morris Associates, which
includes bank credit executives of
both Washington and Baltimore,
will hold it's first dinner meeting
of the season on october % at
the Mayfiower Hotel.
Alan 4. Dolliver, president of
the Family Finance Corp. OF
Wilmington, Del, will be guest
speaker. His subject: THE Over
all Picture of Small Loan Opera
tions." About 100 Washington
and Baltimore bankers are ex-|
pected to attend.
The Suburban Trust Co.. of
which Fred L. Lutes is president,
will inaugurate a faster customer
service in all its Offices in Mont
gomery County beginning October
27. Forty new National Teller'S
machines will be added to equip
ment to insure greater accuracy,
faster balancing and more protec-
ton to customers. Each machine
will be placed handy to the teller.
who will register deposits and re-
turn printed receipts to the GUS
toner.
Orchid Show Scheduled.
The main lobby of the American
Security & Trust Co. again will
be the scene of the fifth annual
international orchid show of The
National Capital Orchid Society
this week end. More than 5000
orchid plants and blooms will be
displayed in the lobby Saturday
and Sunday. by some 110 exhibi-
tors. Last years show was the
most successful held and each
year adds to the number of class
of exhibits.
Prizes of sterling silver donated
by the Orchid Society and Amer
ican Security and Trust Co. will
be awarded by a judges commit
tee. The show will be open to
the public on Saturday from 10I
am. to 10 pm. and on Sunday
from 10 am. to 6 pm. There is
no admission charge.
Robert B. Edwards announced
that his Investment Trust Lecture
Bureau has added Commonwealth
Investment Co., balanced fund,
to the list of five offered at semi
weekly lectures.
District Chapter. American So
ciety of Women Accountants, is
conducting a series Of lectures
on parliamentary procedure at
George Washington University
Law School. The lecturer is Mrs.
Lucy j. Rumley. a graduate OF
Women's College. University Of
North Carolina and G. w. Univer-
sity.
The lectures are held at 8 pm.
the next being scheduled tomor-
row, and on october q, October
80 and November 6. > Organiza-
tions invited as participants are
the District Institute of Certified
Public Accountants; Washington
Chapter, National Association of
AI,ae ~