Evening star., 1953-04-26

# noon, the pro-
gram will in
clude a golf
mr. D'ooen. tourn nament.
in which officers of member
banks will compete for the Rob-
ert v. Fleming Cup. A putting
contest has been scheduled for
$3.50 pm.
Thomas H. Reynolds. trust
officer of the National Metro
politan Bank, is chairman for
the event. An informal social
hour preceding dinner will start
at $50 pm. Following tradition.
there will be no speeches at the
dinner. but entertainment has
been arranged.
Reelected for 6Oth Time.
William Montgomery has been
reelected president of the Aca-
cia Mutual Life Insurance Co.
for the Goth consecutive time, It
was announced yesterday. He
began his career with Acacia In
1893.
Directors reelected all other
company officers and announced
IL promotions.
Arthur r. Deming was pro-
noted to assistant vice president
and Alfred v. Rigsbee and
Charles H. Wirth were named
assistant medical directors. Rob-
ert E. Lee. jr., was named man
ager of claims and Charles S.
Piepgrass was promoted to coun.
sci.
Michael F. Showalter. C.
Turner Hudgins and George H.
Partridge became new officers
with the title of attorney. Frank
C. Devlin was promoted to chief
appraiser.
Charlton M. Gaines was pro-
NOTED to chief tax accountant
and Charles H. Hunter, jr. and
Hilbert S. Browne were named
assistants to the comptroller.
State Loan Net Higher.
State Loan and Finance Corp.
yesterday reported net income
available for dividends in the
first three months of this year
amounted to $262.062 VS.. $685.
545 a year earlier.
After preferred dividends, this
was equivalent to % cents a
common share on 654,142 shares
outstanding on March 81 VS.. 23.5
cents on 645, ,556 a year earlier.
AS of March 81, 10,484 shares Of
6 per cent convertible preferred.
series A. had been converted into
20,968 class A common shares.
Loans made and purchased in
the first quarter amounted to
$11 .674,877 VS.. $12,720,555 a year
earlier. However. March volume
exceeded expectations. Custom
ers notes receivable on March
81 reached $29, ,208,782 a gain Of
$1,910,574 from a year earlier.
Named to Bank Board.
Julius A. Fleischmann of Gin
cinnati, son of the founder OF
the Fleischmann Yeast Co.. now
a division of Standard Brands.
has been elected a director Of
the International Bank of Wash
ington, it was announced yes
terday.
Mr.. Fleischmann is a frequent
visitor here and is a member Of
the Metropolitan Club.
Following the annual meeting
in Phoenix. AriZ.. 1t also was an
nounced that John B. Payson.
vice president. has been placed
in charge of the Washington Of
fee.
Gross income for 1852 ex-
ceeded 5000, 900, a 38 per cent
increase from the preceding
year, President T. Reed Vreeland
reported. Bills receivable
amounted to $1,104,965 at the
end of the year vs.. $33,056 a year
earlier.
Four Washington men were
among the reelected directors.
They we're: John r. Waller.
board chairman. who presided
at the annual meeting; Austin
c. Waller, vice chairman: Guy
Martin, attorney. and John L.
Newbold. president of the Mer-
chants Transfer and Storage Co.
Insurance Sales Gain.
Sales of ordinary life insurance
in the District of Columbia to-
tailed $12,525.000 in March. a
gain of 6 per cent from March.
1852, the Life Insurance Agency
Management Association report
ed yesterday.
Sales in three months this year
amounted to $30.928.0OO. a de-
crease Of 4 per cent from a year
earlier. Sales across the Nation
were ~ per cent above a year
ago in March and up 19 per cent
in the three months.
Bank Women to Meet.
Miss Florinda Sariego of the
National Savings and Trust Co.,
new president of the Bank Wo-
mems Club. will preside at a
dinner meeting of the club to-
morrow night at the Woodner,
3636 10th street NV.
The dinner will mark the be-
ginning of the clubs 9th year.
Members from the Riggs Ma
tional Bank will be hostesses.
The District Building and Loan
League will hold its monthly
at the Mayflower Hotel
Tuesday noon. It will be preceded
by a session of the executive
committee.
Hardware Men Elect.
Jerry Rubenstein of Grand
Hardware has been elected presi-
dent of the Hardware Association
Of the District and Metropolitan
area