Evening star., 1952-03-28

been singled out as the principal
victim of OPS regulations and
that so far as it is concerned, the
price control law Is to be used
strictly as a political tool" he
told stockholders.
"The maladministration Of the
law. with a continuous and ap-
parently intentional violation Of
its provisions, and a stubborn re-
fusal to correct inequities in the
regulations. has created one OF
the most serious problems ever
faced by the industry"
ID. G.. Store Sales Lasging.
Washington department store
sales in the week ended March %
were 2 per cent below. the previous
week and 13 per cent behind the
like 1851 week, the Federal Reserve
Bank of Richmond reported today.
Sales in four weeks ended the same
date were Is per cent below year
earlier. ~ az.
Directors of the American Hire
Insurance Co. have declared a
dividend Of 1l2 per cent on capital
stock. payable May / to holders OF
record April 81. Secretary Stockton
M. Hotze announced. Books will
be closed April 81.
Business Loans Below 1851. o.fs
For the first time in more than
q year, commercial loans Of IA Re-
serve member banks of Washing
ton dropped below a year earlier in
the week ended March 10, the
Federal Reserve Bank OF Rich
mond reported.
Commercial loans on March 10
aggregated $135, ,004, 900, drop Of
1886 900 from a week earlier.
1903 900 below four weeks earlier
and $2,113,000 behind the like
1851 date, when their post-Korean
advance was well under way.
However, real estate loans re-
manned $6,307 900 above a year
earlier; other loans, mostly con-
sumer loans, were $6,242, 900 above
the 1851 date, and total loans held
an increase of $11,015,000.
Real estate loans OF $102, ,198.-
900 on March 10 were $568, 900
above a week earlier and $968. 600
above four weeks earlier. Other
loans of $75,704,000 were down
S152,0O0 in the week, but up So
776.OO0 in the four weeks. Total
loans Of $317,163 900 were down
S2,005 900 in the week and up $6,-
i81 1000 in the four weeks.
Demand deposits totaled $685.
S62, 900, gain of $4,090.000 in the
week, up $3.50. 900 in four weeks
and $84, ,o88, 900 above year ago.
Contrasts With 1881 Loss.
February net income Of the
Pennsylvania Railroad was $685.
655 in contrast to a deficit OF
e10,688, BOT in February, 1851.
when labor troubles seriously dis
rupted operations. Net for two
months this year was 1855, ,965
vs.. a loss of $9,482,902 q year
earlier.
February revenues totaled $82.-
6S4,941 VS.. $67.591 .251 and two
months revenues amounted to
el70,616,388 VS.. $151 SGT 400.
Senator Carl Mundt, Repub-
lican, of South Dakota, will ad-
dress the washington Trade As
sociation Executives at q May
flower Hotel luncheon on Wednes-
day, April 2. His subject: "The
Political Outlook"
Promoted to Vice President.
Jesse r. Stein has been pro;
moted to vice president of the Ole
Dominion Bank in Arlington, Pres
ident Edwin T. Holland announced
today.
Mr.. Stein. investment officer oi
- the bank and formerly assistant
vice president. has been with the
bank and, its predecessor banl
more than IS years.
The bank now has four vict
presidents who have served q
years or longer. j.. H. White. jr.
vice president in charge of opera.
tions at the main ONCE. celebrated
his 25th year yesterday, and HI
was honored at luncheon at,
tended by Mr.. Holland, Mr.. Stein
and Cameron r. Dye. vice presi.
dent in charge of the Fairfa,
Drive once, and William E
Robey, vice president in charge o.
the Lee Highway ONCE. Both Mr.
Dye and Mr.. Robey have servet
more than 25 years.
Named Regional Manager.
Charles E. Sumrall has beer
appointed Washington regiona
manager, for Chrysler Division
ChrySler Corp. He succeeds Charlie
w. Neely. who has been promote,
to sales executive Of the division
In Detroit.
Mrs. Edna s. Snyder has joinet
the creative staff Of Henry J
Kaufman q Associates. adyertis.
ng agency.
A I