Evening star. [volume] (Washington, D.C.) 1854-1972, 1954-08-31
Stockholders TakeUp
Every Share Offered
By Liberty National
By DonoId B. Hodley

by Liberty National
By Donald B. HodIey
Stockholders of the Liberty
National Bank were determined
not to miss a good thing when
the bank offered 5000 additional
shares at 5000 a share, President
w. T. Vandoren disclosed today.
Warrants dated July 80 en-
titled them to buy one new share
for each share already owned
and when the warrants expired
at 2 pm. yesterday, it was found
that every share had been
snapped up.
An offer from Johnston, Lem
on & Co. to pay $140 net for each
warrant apparently was not at
tractive enough. The new shares
increase capital stock to 10000
shares.
Proceeds of 81 million will be
used to increase capital from
100000 to 81 million and
raise surplus from SIS million
to So million.
Collections OFF Slightly
July collections on charge ac-
counts of Washington area de-
partment stores amounted to
38.9 per cent of July / receiv-
ables, compared with 43.0 per
cent a year ago, the Federal
Reserve Bank of Richmond re-
ported today.
July collections on instalment
accounts amounted to las per
cent of July / receivables. COM
pared with 1872 per cent in July,
1858.
The bank also reported that
the stores outstanding orders
for new merchandise on July
81 were 9.3 per cent below year
ago, while inventories on the
same date were 80 per cent
behind a year earlier.
Telephone Net improves
Net income of Chesapeake &
Potomac Telephone Co. for July
totaled $547 400, compared with +.
$377, 1927 in July, 1853, the COM ,
pany reported.
Operating revenues amounted
to 81, 098, 1866 VS.. $4,099. 686 year
earlier, while operating expenses
totaled $3,069,987 VS.. $3.120,937.
Net income for seven months
this year amounted to $3.080,90
compared with $3,121,8 48 in the
same 1853 period.
Operating revenues came to
$28,759.075 VS.. $29,059,077 and
operating expenses totaled $21,-
166,833 VS.. $21,218,587.
District telephones totaled
$50, 1906 on July 81, compared
with 534,O17 year earlier, but
the decline was more than offset
by large gains in adjoining
Maryland and Virginia suburbs.
Atomic Development Grows
Atomic Development Mutual
Fund, Inc, had assets Of $5,013.-
500 on August q, compared with
$2.2 million on June 80, Merle
Thorpe. jr.. board chairman,
declared yesterday.
Sponsored by a Washington
group, the fund now has 435,199
shares in the hands of about
5000 shareholders. It's first pub
lie Offering was last December.
An initial dividend of 4 cents
share will be paid September
20 to holders of record August II.
More Offices Acquired
Liberty Loan Corp. the man
agement of which underwent
major changes on July 20, has
acquired seven more offices and
now operates total Of 10, off,
Gals announced.
The company also has entered
into a merger agreement with
Metropolitan Lean & Invest
ment Co. and Metro Finance Co.,
both of st. Louis.
'SuIethon' Draws 5000
Georges Radio g. Television
Co. reported that more than
5000 adults attended its sale
thon," a 24-hour marathon ware
house sale from 6 pm. Saturday
to 6 pm. Sunday.
Sales of around 100000 were
said to be 30 per cent greater
than for the company's first
event of this kind in July.
Market Caution Advised
There appears continued JUS
LITIGATION for maintaining con-
sentative nearer term market
policy, including reserves Of buy
ing power. advises current re-
view from Francis I. du Pont
g. Co.
However, the firm adds: There
are no major indications that
there has been a reversal of the
long-period upward trend in
share prices. In fact, the present
era of adjustment may provide
a strengthening of the underly-
ing forces"
Bache & Co. has compiled
studies of P. r. Mallory, Goth
Century-Fox and Marine Mid
land Corp.
] IN