Evening star., 1952-01-04

year end. ~
Undivi d d #
profits on De- MS
cember 81 -'''''''''''''
am ounted to Mr. Waller
S1,282,221 VS.. $1,073.963 a year
earlier, and total capital funds
rose to $6,354,962 VS.. $5.649,194
Net loans amounted to $751;
059,142 VS.. $50, ,482 ,40S, while hold
ings of Federal government secu-
rites rose to $51, 1897, ,492 VS.. $46.-
117,008, and total securities hold
ings aggregated $52,6S7,S ,SS9 VS.
S46,452,588
Dividend to be Increased.
Columbia Federal Savings and
Loan Association will increase its
dividend for the first half Of 1852
to 8 per cent compared with the 2
per cent previously paid, it was
announced today by President
Clarence E. Kefauver.
The higher rate will be paid
because of the associations in
creased earning capacity and the
Soundness of its reserve policy,
declared Mr.. Kefauver in a letter
to association members.
He reported that 1851 had been
q most satisfactory year for the
association and said the annual
statement due later this month
will show real progress.
Deposits Jump in Week.
Demand deposits of IA reserve
member banks here rose $25, 5,148.-
900 in the week ended December
26, the Federal Reserve Bank of
Richmond reported. Included was
an $8.750,000 gain in accounts Of
individuals. partnership and cor
porations and a $l0,798, 900 in
crease in Federal Government ac-
counts.
Figures for December 26: Total
demand deposits, 1881 ,741 900; in
dividuals. partnerships and COR
pOTdGlOL1 0o4o, ,1oo,OVo, S@SA "a
Government, $25,014,000.
Outstanding loans of 1921 $780,
900 were up $1,012,000 in the week,
but commercial loans of $139,739,-
600 were down $640,000. Brokers
loans were up $904,000 and other
securities loans rose $4,000. IN
veStments increased $1l l,el5,OO0,
due almost entirely to an Sl1 $780,
600 rise in Treasury bll! holdings.
Gas Earnings Above 1850.
Net income of Washington Gas
Light Co. in November was $23l,-
457 VS.. S35 ,O93 in November, 1850,
the company reported. Net for
IL months of 1851 was $2,O22,811
VS.. Sl,538,626 a year earlier.
November operating revenues
totaled $2,074.338 VS.. 81 ,44O,92l IN
November, 1850, and operating
expenses amounted to $l,787, 722
VS.. $1,363,260. Eleven months
operating revenues reached $l7,-
489,381 VS.. $14,982,463 and oper-
ating expenses totaled $15,699, ,266
VS.. S13,362,493 a year earlier.
Consolidated net of the COM
pany and subsidiaries for Novem-
ber was $274,011 VS.. $l28,760,
while net for II months was
$l,9l8,173 VS.. $1,733.653.
Agency Supervisor Named.
Harold E. Buchanan has been
named supervisor of the C. Carney
Smith g. Associates Agency OF
the Mutual Benefit Life Insurance
Co. He has made notable rec
ord with the agency and has been
speaker at the last two COM
pany conventions.
A graduate of the University OF
Wisconsin Law School, he was d1-
rector of personnel for the Ameri-
can National Red Cross before
entering the insurance business.
Robert w. Tharp led the agency
in 1851 production and has been
named a member of National AS
sociates, a group of 25 top COM
pany producers throughout the
Nation.
IMATI Director Appointed.
Ben B. Edwards has been named
executive director and assistant to
the president of the Independent
Military Air Transport Associa-
ton, President o. Ray Chalk an
nounced.
Nj. Edwards. who is on leave
from his duties as vice president
of Overseas National Airways, will
be stationed in the associations
Washington office. He resides
here
Store Sales Exceed 1850.
Washington department store
sales in November were 11.8 pei
cent above November, 1850, while
those for IL months of last yeal
were Al per cent above their 1856
levels. the Richmond Reserve Banl
reported.
The National Retail Dry Good:
Association will open its three-day
annual convention in New Yorl
on Monday. Sessions of the as.
sociation's Controllers Congress.
will be held Wednesday.
Promoted by Ford Motor.
B. M. Harrison of Washington
has been named a field sales en-.
oiyoaor fo- tho trantor opd iy,rl,,c
trial engine division of Ford Motor
Co. He has been parts and acces'
sories sales manager here for thl
Ford Division.
Greber Bros, Motorola distribu
tor, is holding a dealer showing
of 1852 television models at 304:
v street NE.