Evening star., 1952-12-01

Mr.. Childress. MIR. Richard.
ment house, it was announced to-
day.
Mr.. Childress has been asso-
ciated with the firm more than &c
years. A native of Washington
he is a graduate of Central High
School and attended Wesleyan
University and North Carolina
State. He is a member of the
Columbia Country Club, the Uni
versity Club and the Washington
Board of Trade.
Mr.. Richard was born in Win
chester, Va. and attended Vir-
ginia schools. He is a graduate
of Strayer College with an MICS
degree and now is attending
Southeastern University and
George Washington University.
He has been associated with the
firm since 1889 and is a member
of the Washington Golf and
Country Club.
Johnston, Lemon, with Offices
in the Southern Building, was
founded by James M. Johnston in
1920 and holds memberships In
the Washington Stock Exchange
and the Philadelphia Baltimore
Stock Exchange.
In addition to the new partners,
general partners include Mr..
Johnston. James H. Lemon, Ber-
nard j. Nees and Harvey B. Gram,
jr. Scott B. Appleby is a special
partner.
Pepco Earnings Gain.
Potomac Electric Power Co
earned $1.38 a share for the IL
months ended October 81 com
pared with SLIP for the CORE
spending 1851 period, which in
cluded only six months at the
increased rates.
Net income was 5000, 900 Gn-
Guiding $957.000 realized from the
rate increase), or an increase OF
$1,094,000. Operating revenues
for the IL months totaled SAT, $685.
600. an increase of $5,603, 900 over
the previous period.
October net income was $476.OOO
(including $4,000 from increased
rates., or $4,000 more than the
net for October, 1851.
In November Pepco authorized
additional construction projects
amounting to $18,889, 900, the
bulk of which was for new gen.
orator unit at the company's Alex
andria power plant. Gross addi-
tions to property and the Pepco
plant during the IL months ended
October 81 amounted to $15,193,-
600.
Investment Bankers Meet.
At Hollywood, Fla, today a
record number of delegates opened
the 41st annual convention of the
Investment Bankers Association,
which will last through Friday.
President Joseph T. johnson
told the delegation that without
economic leadership, as we'll as
political and military. the United
States cannot squarely meets its
responsibilities of the free world.
"The suspended crisis that con-
fronts America is twofold," he
said. I'VE must restore a stable
economy among our allies in
Western Europe and we must
supplement our own sources of
raw materials"
The association president, who
is of the Milwaukee Co., MilWau-
kee, discussed world economics in
broad terms. He asserted the
Government should accept the
proposition that economic mat
ters are best left to those who
understand them best"
Among the speakers at the con-
vention is Harry A. Mcdonald,
administrator of the Reconstruc-
ton Finance Corp.
Arlington Man Promoted.
w. P. Stanley of Arlington. Va,
has been promoted to district su-
pervisor for the Washington COM
mercial sales Office of the Stand
ard Register CO. of Dayton, Ohio.
He Joined the company in 1850
as salesman in the Washington
Office.
The American Business Asso-
citation, Inc, will meet at $50
pm. Wednesday in the office of
j. A. Kamerow, 433 Southern
Building. to map plans and meet
with the new officers. The group
is affiliated with the Federation
of Business Mems Association.
Marie G. Garrett is president.
Baird In Chicago.
Bruce Baird, president of Ma
tional Savings & Trust Co.. is in
Ckciago on business, as well as
for the annual conference Of the
First National Bank of that city.
Mr.. Baird has numerous business
connectioW in Chicago.
Central Promotes Cornell.
The New York Central Railroad
has appointed Richard M. Cornell
of Silver Spring, Md, as head of
its freight traffic department in
Washington. He succeeds Neil r.
Mccormick, promoted to assist
ant general freight agent at Buff
falo, N. Y. Mr.. Cornell, A. and
a native Washingtonian, joined
the freight department in 194l
and a year ago was made general
agent, which title he still retains.
Personnel Group to Meet.
The Washington Personnel As
Sociation will have a special guest
speaker at it's regular dinner
meeting at 6 pm. Thursday at
the Kennedy-Warren. The speak
er is Gordon l.. Lippett of the
National Educa finn ASSociofio,,