Evening star. [volume] (Washington, D.C.) 1854-1972, 1955-04-28
By DONALD B. HADLEY

BY DONALD b. HADLEf
Net asset value of Atomic De-
velopment Mutual Fund has
jumped to another record of
more than $40 million, President
Newton I. Steers. jr., reported
today.
The total has more than
tripled since the first of this
year and has increased eight
times since the 1854 Atomic
Energy Act became law last
August 80.
The fund was started here
on December IA, 1858, with
capitalization of 100000. It's
rate Of growth is believed to
have been the fastest ever
achieved by an open-end fund.
Forum for Bank Women
A forum for bank women will
be held at the Mayfiower Hotel
next Wednesday night with
prominent women officers of
Washington area banks and
trust companies as speakers.
Sponsored by Washington
Chapter. American Institute of
Banking and the Capital Group,
National Association of Bank
Women, the forum will start at
8 pm. and will be followed by a
buffet supper. Wilmer j. Waller,
jr., president of the ALB chap
ter, will be moderator.
Forum subjects. with speak
ers for each. follow: auditing
and bookkeeping, Mrs. Vera
Rhine, assistant vice president,
Union Trust Co.: credit, Mrs.
Nell Saylor, manager. personal
loan department, Burke & Her.
bert Bank & Trust Co.; invest
ments, Miss Alice H. Written,
Johnston. Lemon & Co.: per-
sonnet, Mrs. Elizabeth M. Broth
erhood, assistant vice president
and secretary, McLachlen Bank
Ing Corp; secretarial, Miss Syl-
via Karydakis, assistant cashier,
Second National Bank: trusts,
Miss Mary L. Chadwick, assist
ant trust officer, Riggs National
Bank.
Heads Eastgate Group
Raymond c. Williams, presi-
dent of the Capital City Savings
and Loan Association and this
years president of the District
Building and Loan League, has
been elected president of the
Eastgate Business Association.
He succeeds Joseph L. Bateman,
president of j. L. Bateman &
Son.
Other officers elected at the 1
annual meeting last night in
cluded: George Cole, Bank of
Commerce, first vice president;
Roger Moss, realtor, second vice
president; Francis j. Garner,
insurance man, secretary; Mr..
Bateman, financial secretary;
Arthur Jarrett. president, AAA
Refrigeration Co.. treasurer;
Eugene Kane, Kane Transfer Co.,
general counsel; George H. Lane,
sergeant at arms.
Volume Concept Cited
The volume concept" which
has been incorporated into
operations of many automobile
dealers, has increased their
profits and permitted lower
prices for customers, declared r.
j. Eggert, the Ford Divisions
market research manager, here
today.
Addressing Washington Chap
ter, American Marketing Asso-
citation, at the Willard Hotel, Mr..
Eggert said sales turnover of
auto dealerships. in relation to
total assets. is higher than for
any other type of retailer.
Sales turnover of neW-car
dealers is more than twice that |
of furniture and jewelry stores
and more than IS per cent |
greater than for lumber dealers. |
shoe stores and electrical appli-
ance shops, he added.
The volume concept as adopted |
by alert auto dealers "means4
that their unit selling costs are
loWer-a savings they can pass
along to the customers and, at
the same time, increase their
volume further" he said. THE
additional volume results in in
creased dealer profits"
Directors Reelected
Stockholders of Allegheny
AirlineS reelected all directors
at the annual meeting as fol
lows:
Leslie o. Barnes, president;
Robert M. Love, boa.u ,...-..
man; Philip v. Mates, David L.
Miller, Willard F.. Rockwell, jr.;
Hamilton o. Hale, Henry A.
Satterwhite. Hugh R. Sharp, Jr.;
Boylston A. Tompkins. jr.; Will
liam r. Waldeisen and William
Zeckerndorf.
At the organization board |
meeting later. Walter j. Short !