Evening star., 1952-08-19

J
summarizes the
banks activities Mr.. CASTOR.
for the full year.
Net profits of $51.8 million were
realized for the year and $24.6
million for the six months under
review. The dividend payment rep
resented 2 per cent on the capital
stock of 81 billion.
The remainder of the net profit.
amounting to $31.8 million. was
added to accumulated earned re-
serves, which now total $266.6
million.
Profits used for the dividend,
ana accruing to reserves arose out
Of interest earnings of $40 mil
lion. less administrative expenses
OF 81 million and interest pay
ments of $17.2 millions to the
Treasury.
During the half year ended June
30, the bank authorized $413.3
million in new credits to borrow
ing countries. France received the
top figure of 5000 million. 1t also
allocated $305 million to specific
projects out of credits previously
authorized.
$185 Million Borrowed.
; In the same period, S185 mil
lion was paid to borrowers and
in turn the bank received repay
mentS of principal totaling $85
million. plus $40 million interest
payments.
Credits extended during the six
months brought the total of new
credits for the fiscal year to $500
million. They increased the total
Of credits authorized from the
banks establishment in 1884 to
$5.7 billion. AS of June 80, 1852,
MIR. CASTOR reported the bank had
:diSburSed a total of $36 billion
under such authorizations. Bor-
Fowers have repaid $1.2 billion.
: Loans outstanding on June 80
totaled $2.4 billion, while on the
books the unutilized portion of &C
tive credits was $9119 million.
This brought the total of active
credits to $3,3ff,990,000.
Under a 1945 amendment, Con-
gress authorized the Export I'm
port Bank to make loans and COM
lnitments up to $4.5 billion. Thus
the uncommitted lending author
Sly stood at $12 billion at the end
of the fiscal year.
John Reinoehl Promoted.
: Directors of Suburban Trust
Co. today announced the appoint
ment of John r. Reinoehl as act
ing manager of the New Hamp-
shire avenue office in Takoma
Park. Md, as successor to Thomas
F. Rosewag, resigned.
: Mr.. Reinoehl, who lives in Col
lege Park, has been a resident of
Prince Georges County since 1924
and is a graduate of the Ameri-
can Institute of Banking. He has
been with the Suburban Trust Co.
since June. 1941H having served
for a number of years as teller
at the Mount Rainier office. In
May of this year he was trans
ferred to the Takoma Park branch
as assistant manager.
A veteran of World War II,
Mr. Reinoehl was a combat air.
man overseas. He is married and
has two sons.
Drug Company Plans Display.
: The 1852 gift and holiday show
ing of the District Wholesale
Drug Corp. will be held at the
Willard Hotel September Z
through September 9, David I.
Estrin. president, announced to-
day. For the benefit of the pub
JIG and customers, the largest dis
plays south of New York in this
line are being arranged.
Walter G. Shisler has been
named Washington general agent
for the Chicago, Burlington &
Quincy Railroad. succeeding NJ
Ci. Coffey, who retired due to i'll
health. He has been with the
railroad since 1929 and has been
general agent at Milwaukee for
the last six or seven years.
Charles C. Cove. jr., of the Dis
-trict branch of Acacia Mutual Life
Insurance Co., has sold more than
SIS million of life insurance since
he joined Acacia in 1886. Fol
three times, the company an
nounced. he led Acacia'S Nation
wide sales force. In 1850. Mr.. Cove
exceeded 81 million in sales.
Underwriters at Institute.
Attending the seventh annua
Chartered Life Underwriters In.
.stitute at the University of Con-
,necticut are the following from
this area:
H. Cochron Fisher. agent for the
Paul D. Sleeper Agency of Aetns
Insurance Co.; Joseph M. Silver
man, regional manager of Frank
lin Life Insurance Co.; Charles K
Reid, assistant manager of j. d
Marsh & Associates; Leon Kat2
associate general agent for Stat,
Mutual Life Assurance Co.; Gordol
Abrams, general manager TO
Northwestern National Insuranc
Co., and Roger L. Baldwin. specia
agent for the Paul D. Harrison
Agency of Northwestern Mutus
Insurance Co.
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