Evening star., 1952-05-16

is past preSl-
dent of the 3S8
w shing g ton
Adver tising Mr. Kaufman
Club. former vice president of the
Advertising Federation of Amer
ica, and chairman of the National
Advertising Agency Network.
His talk will spearhead a gen.
eral discussion of advertising
problems.
VepcO Net Income Above 1851.
Virginia Electric & Power Co
earned $997 .O67 or 1853 cents q
common share in April VS.. 1852, ,481
OF II cents on fewer shares in
April, 1851, the company an
nounced.
Net income for four months this
year was $4.291 ,074 or TIA cents a
share VS.. $3,585, ,619 or 65.1 cents
a year earlier. There were 4,946,-
1872 common shares outstanding on
April 80 VS.. 4,496.71 a year earlier
April operating revenues totaleo
$6.168,807 VS.. $5,686.85 while four
months revenues rose to $25, ,610,-
7O7 VS.. $23 ,269, ,629 a year earlier.
Bank Loans Drop in Week.
Outstanding loans of IA reserve
member banks here totaled $321,-
289.000 on May Z, drop of ST.
$4,000 from a week earlier, but
$1.034. 900 above four weeks earlier
and $143,0O0 above the like 1851
date, the Federal Reserve Bank
CT Richmond reported.
Commercial loans totaled $751;
$4,000, a decrease of $158 900 in
the week, but $3.O27 900 higher in
four weeks. They remained $5,-
$4,000 below a year earlier.
Demand deposits of 1886 ,283 ZOO
were up $7,751,0 in the week,
down S8,541 900 in four weeks and
$43,084.000 above the like 1851
date. Investments of $538, ,584, 900
were up $7,258.000 in the week,
down $2,779,000 in four weeks and
up $43. .491 900 in the year.
Auto Credit Plan Revised.
j. Robert Sherwood, vice presi-
dent and treasurer of the Subur-
ban Trust Co. today announced
the company's executive commit
tee had approved a revised plan
for financing automobiles.
Terms under the new plan fol-
low: 1852 cars. one-third down,
"a months to pay with four per
cent interest; 1851 cars, one-third
down, "a months, five per cent;
1850 cars, forty per cent down. 18
months, five per cent interest;
1948 and 1949 cars. fifty per cent
down, IL months. six per cent in
terest.
The company will not finance
cars of 1947 or older.
ROtarians See Exchange Film.
Ferris & Co., Washington in
vestment bankers. presented the
New York Stock Exchanges new
technicolor movies. what Makes
Us Tick" before the Rotary Club
of Washington at this weeks
meeting. George NJ. Ferris, ST.,
senior partner of the firm. gave an
Introductory talk preceding the
showing.
A preview of the film recently
attracted much interest in the
financial district. It is available
free of charge for clubs and other
organizations and can be obtained
from any member firm of the ex-
change here.
Bankers Securities Changes.
Albert M. Greenfield, New York
financier, who is chairman of the
board of Lansburgh & Bro. here,
announced that Bankers Securi-
ties Corp, of which he also is
chairman, plans to cease opera
tions as an investment company
and engage primarily in merchan-
dising and real estate business on
a permanent basis.
SCSut 1llCo wi 10
dominant stockholder in City
Stores Co.. which acquired con-
troll of Lansburgh & Bro. last
year.
Bankers Securities stockholders
will vote on the proposal at the
annual meeting May Is, and, if
approved, the corporation win ask
the SEC for an order declaring
that it has ceased to be an invest
ment company within the meaning
of the Investment Company Act
of 1910.
The accounting period of the
corporation has been changed to
end January 81 to conform with
department and speciality store
activities.
Elected directors of the District
Life Underwriters Association at
the annual meeting yesterday
were: Tinsley Adams. Continental
Life Assurance: William r. Took
er. Berkshire Life. and Jack T.
Murphy. Occidental Life.
The Washington area had $685.
543 television sets in operation on
May 80, gain of GAIA during
the month, the Television Circu-
lation Committee estimated.