Evening star. [volume] (Washington, D.C.) 1854-1972, 1955-08-05
Capitol I ronsit Co. Net
Shows Increase in June

ose in June
New York and other cities. 9th
! er interest rates are generally
adjusted on the basis Of the
prime rate. meaning a firmine
| up all along the line. There Is
the general expectation among
bankers here. also, that the
Richmond Federal Reserve Bank
will follow the four other re-
serve banks which have raised
the rediscount rate. That rate
has gone from ia per cent to
2 per cent In Chicago. Boston
and Atlanta. and to ~ per cent
in Cleveland.
The Richmond Reserve Bank
reported today that total loans
of member banks in the Rich
mond district amounted to SIS
billion on July 81. an increase
of $2.3 million in a week and a
gain of $243.9 million over
the July %, 1854 figure.
Total loans Of the l2-member
banks here went to a new high
of $476. 7S3, 900 on July 81. The
July 20 figure was $476,3l9. 900.
Commercial and industrial loans
were $207 $50, 900 July q against
$204, 1924 900 a week earlier. Real
estate loans were $135. AIS. 900
in the latest report. against
$135.02l 900 on July 20.
Investments were down. The
July 81 figure was $5l2, 100. 900
against $524.454.o00 a week
earlier.
ALB. Conference
Fifteen members of the WASH
ington Chapter of the American
Institute of Banking will attend
a regional conference of the
Alb. at Columbia, S. c., tomor-
row. Chapter leaders from
Maryland. Virginia, Delaware
and North and South Carolina
also will be there.
Those Of the District chapter
who will attend are:
Glen F. Thompson, Riggs Ma
tional Bank, chapter president:
William Reading, Suburban
Trust Co.. first vice president Of
the chapter; Clayton Doing,
American Security & Trust Co.,
second vice president; Louis
Rowe. Anacostia National Bank,
treasurer; Miss Louis Pike. Ma
tional Bank of Washington: Will
liam F. Vowel. National Bank
Of Washington: Miss Julie Roche,
Munsey Trust Co.
Also. Ralph Mittendorf,
American Security & Trust Co; ;
Harry M. Schoenly. Riggs Ma
tional Bank; Samuel c. Redman.
jr.. Lincoln National Bank:
Donald Doyle, Lincoln National
Bank; Miss Barbara Rollins.
American Security a. Trust Co. :
Raymond BARLEY. American Sc
'curity g. Trust Co.: Robert
Lacey. jr.. American Security d
Trust Co., and Miss FIorinda
Sariego, National Savings g.
Trust Co.
Mr.. Schoenly. vice chairman
or the national debating COM
lmittee. will serve as moderator
iof a panel discussion at the
morning session. Miss Sariego
will be a panel member. Mr..
Redman will speak on the after
noon program on the necessity
for training chapter leaders.
Coastal Offers Shares
Coastal Finance Corp, which
has its principal Offices in Sill
yer Spring, Md. is Offering
$500 shares of Glass A common
stock to holders Of its outstand-
ing Class A stock for subscrip-
ton at the rate of one share
for each six shares held at the
close of business today. The SUBJ
scription price is $3.50.
The Offering is UNDERWATER
by W. e. Hutton & Co. Of New
York.
The company was founded BY
Frank B. Bush. who has been
president and general manager
since the inception in 1949. There
are IL Offices in. nine cities in
four States in addition to the
headquarters office in Silver
Spring. The parent company
owns the capital stock of IL SUBJ
sidiary companies, each Of which
operates an office. The total as
sets Of the parent and subsidiary
companies amounted to $3,287.-
866 last June 30.
Atomic Fund Reports
Rapid growth of the Atomic
Development Mutual Fund, Inc.
lis shown in the current report
just issued to stockholders. In
the year ending June 80 total
assets increased from 1925 mil
lion to $44,512,374.
Net asset value per share in
creased from $10.88 to $14.37
with the number Of shares out
standing increasing from 204,-
613 to 5000, 1929. Shareholders
now number more than 10000
against about 1000 a yeal
earlier.
In the report signed by Merle
Thorpe. jr., chairman of the
board, and Newton I. Steers, jr.
president. the statement is made
Stockholders are urged to real
ize that the portfolio of secur.
tiles in which their fund has
invested is not designed to pro-
duce a high level Of investment
income. Many Of the portfolio
companies are not yet paying
dividends. and some Of them are
not expected to in the immediate
future. Your fund management
however, continues to believe
that companies contributing tt
the DEVELOPMENT of atomic