Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-01-31

OuA IIlB VIC yCdA w
SGT, 376,751 and included Fed
eral Government. county, muni-
cipal, railroad. industrial and
public utility issues.
Telephone Earnings Rise
Net income Of Chesapeake d
Potomac Telephone Co. in 1858
increased to $5.374,116 from
$5.117.243 in the previous year,
the company reported yesterday.
Operating revenues amounted
Additional Financial News
on Poge CT
to $40. 1884. compared with
SAT, 800 in 1852 while oper-
ating expenses totaled $36.040.-
Alb. compared with $34,652,558.
December net income was
$552.457 VS.. $333.774 in Deem
Der. 1852. Operating revenues
rose to $4,165,350 from $4,121.-
SIS and operating expenses
dropped to $2,907.005 from
$3.257.617.
Elected to D. c. League
Potomac Savings & Loan As.
ISOLATION has been elected to
membership in the District
Building and Loan League. it
was announced yesterday by Ed.
ward K. Jones, league president.
This increases league mem
bership to 80 associations with
resources of nearly 5000 million.
William E. Shannon is asso-
citation president and Frank j.
Luchs executive vice president.
John H. Call is secretary. ON
ces are at 1905 H street NV.
Restrictions but No Bon
The Home Loan Bank Board
is considering some restrictions,
but no outright ban on the adj
vertising Of dividend rates and
the offering Of premiums by
Federal savings and loan insti-
buttons, 1t was learned yesterday.
Regulations now under con-
sideration contemplate that rate
advertising could not be used
outside the normal operating
area Of an association and that
the value Of premiums offered
for savings would be limited to
small amounts.
Another proposed regulation Is
being considered to clarity board
procedures in acting on applica.
tons for branches. This pro.
posal, on which hearings will be
held tomorrow in Room 827 Of
the Home Loan Bank Board
building, 101 Indiana avenue
NV. provides that the board
shall consider state laws in the
approval of branches.
A branch would be approved
in "those States where branch
Offices are permissible for any
type Of savings and home financ-
ing institution located in the
state. and on the same terms"
Branch applications are con.
sidered as carefully as those for
entirely new institutions, board
officials emphasized. The chief
criteria is whether the proposed
branch is needed in the locality.
Panel on Income Tax
The Federal income tax viii
be the subject for a panel discus
sion at a special meeting Of
Washington Chapter. National
of Cost Accountants
at the Willard Hotel Wednesday
night, it was announced by Paul
Imler. chapter president.
Panel members will be: George
E. Baker, district manager Of
Ernst & Ernst; Paul E. Lynch.
Automobile Associa-
ton. and Robert E. Morrow,
Greenbelt Consumer Services.
Inc. j. j. Molinelli of Govern
ment Services, Inc, will serve as
The meeting will
start at 1880 pm.
Ad Men to Honor WTOP
The Advertising Club has des-
ignated its weekly luncheon at
Hotel Statler Tuesday as Broad
cast House Day" in honor of the
new 81 million home of Station
WTOP.
John S. Hayes. station presi-
dent, will discuss some of the
features of the new center and
its dedication. Congratulations
from officials of Washington
and other stations
will be recorded on tape to r.
deposited in the freedom sr>he=.,
which will take the place of .
Cornerstone.
William E. Coyle, club preSl-
dent, will give a summing-up
talk.
Fund Dividend Declared
Directors of Washington Mu-
tual Investors Fund have de.
clared a quarterly dividend Of
IL cents a share from net invest
ment income, payable February
Is to holders of record Jan.
uary 20.
The 50-cent quarterly DIVIDEND
Of Peoples Drug Stores will b.
paid April l to stockholders Of
record March 2. The record
date was given incorrectly in thiS
column Friday.
A debate team from Washing.
ton Chapter, American Institute
Of Banking, lost a close contest
to the Richmond chapter at
Richmond Friday night. A de-
bate with Pittsburgh chapter at
Pittsburgh Is scheduled for next