Evening star. [volume], January 15, 1957, Page A-16, Image 16

About Evening star. [volume] (Washington, D.C.) 1854-1972

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A-16
** THE EVENING STAR. Washington, D. C.
TUESDAY. JANUARY IS. 19ST
(Sherwood Named Head
Os Suburban Trust Co.
J After a .-ecord year, directors of Suburban Trust Co. yesterday
elected J. Robert Sherwood president and made nine other
rromotions.
Formerly vice president and treasurer, Mr. Sherwood . uceeeds
Fred L. Lutes who was named vice chairman of the board and
end executive committee.
T. Howl'd Duckett was re
elected chairman of the board
and executive committee.
V'illiam Bowie, formerly vice
president also was elected vice
chairman of the board and Bruce
D. Duckett, assistant vice presi
dent, was elected treasurer.
Lloyd S. Carey and Joseph T.
Howard, assistant treasurers,
jvere promoted to assistant vice
presidents.
Wayne M. Proctor, Walter .7.
Clements and Garnett D. Inscoe,
Jr., were elected assistant treas
urers and Graham P. Krder be
came assi tant ’ont roller.
Gill Named Director
Wirt A. Gili, civilian employe
tt the United States Air Force
Was elected a direr or. He suc
ceeds Henry S. Roome who re
signed because of ill health.
Mr. Sherwood, the new presi
dent. nas been w.th the bank end
J‘s pred*cessors since 1922. He
became t-ea: urer la 1945, a di
rector in 1949 and vice president
and treasure" in 1951. He has
been active in State and national
banking associations as well as
in civic and business organiza
tions of the area.
Mr. Lutes, the new vice chair
man of the Board and Executive
Committee has oeen president of
Subu- oan Trust Co. since its for
mation through merger of the
Prince Georges Bank and Tru: t
Co and the Suburban National
Bank of Silver Siring. He was
president of the latter institution.
H;s service with Suburban and
Its predecessors totaled 32 years.
Ho will continue in manage-
$l5O Million Suit Filed
By Philco Against 5 Firms
PHILADELPHIA. Jan. 15 f/P>.
—A $l5O million anturus* suit
was filed in Federal Cour' yes
terday by the Philco Coro,
against Radio Corp. of America
and four o.her firm.,.
In asking triple damages.
Philco charged the defendants
with ' conspiring or entering into
Illegal agreements" and "monop
olistic piactices ir> the operation
of the RCA paten t pool in radio,
television and other phases of
the electronic industry.”
Also I— mert in the suit were
General Electric. American Tele
phone & Telegraph and two of
the latter's subsidiaries. Western
Elec*ric Co. and Bell Telephone
Laboratories. Inc.
Philco's tube making subsidi
ary, th~ Lansdaie, Pa . Tube O ,
joined in the suit.
Philco contends that David
Sarnoff, then RCA president and
board chairman, intervened se
cretly in Aoril, 1956, to prevent
General Electric from carrying
out a royalty-free cro.
on patents with Philco.
Claims Listed
Philco also claims the refuse!
of the Westinghouse Electric
Corp. and A. T. & T. to grant
Philco separate licenses prior to
Jun n 30, 1946, was the result of
an agreement wi'h RCA.
And Philco also maintain.,
RCA ci impelled Philco to sell its
Philn delphia television station,
WPTZ, by threatening to take
away its network affiliation with
the National Bn. adcasting Co.,
an RCA subsi diary.
Philco sold thj station in May
of 1953 to '.Vestingho,.je Broad
casting C<\ and the station was
later acquired by NBC through
a tra,.e with Westinghonse.
(This latter transaction is in
volved in an anti-trust suit
brought by the G ivernmen
against RCA, alleging that
and NBC obtained the station
MUTUAL FUNDS
NEV YORK Jan 15 National
Association n: securities Dealers. Inc.:
(Noon Quotations)
Bid A.sked,
Aberdeen Puri l.dl ,77
Affi]i o »ed Fui..i . 5Hb 5.33
Am . a&iness Shrs .181 4.<)7
Am Mutual r, jnd b. ;to !*.o?
Assoc Fund 'trust 1 '»! 1 .71
Atom Dev ;.lutual 15.-.7 1,.:j0
Axe Houghton Fo A 5.«7 d id
Axe Houzhtor Fd B 8 13 884
Axe Houghton Stk Fd .'.*4 4 on
Blue tidge Mutual 12..■»•* 1393
Boston Fur-* 1« :\h 17.71
Bread Sire* i Inve*‘ __ __ *’l .72 23 4*l
Bullock Fund *2.91 ,Ll 5
Canada Gen Fund ..5 1!* 14.37
Canadian Fund 19.91 2l 1
Cer*urv Shr* Trust *2l °3.70
Chi nlcai Fu.id 15.00 iT.lh
Colonial Fund ... . in.l4 11.ui,
Comwlth Investment __ 1 is !».H7
Comwlth Stk Fund K’rto 13.70
Sons Invest Trust 1d.875 is 375
elaware Fund in' i lion;
Divers Growth St 12., 3 Id nr,
Divers Invest Fund 9.0« n »3
Dividend Shares 2.rtß 294
Dreyfus Fun 9.24 l<>o4'
Faton A* How Bal *ll d7 2 17
Eaton A How Stk 20.03 22 05
Electronics Invest 4.92 5 Ms 1
Fldelltv Fund 14 44 15 d
F T F 305 433
Founders Mut Fund 77d 8 Id
Fundaire tal Invest 1H.27 17.83;
Gas Indust Funi .... 14 87 Id “5
Groun Sec c*m Or»h 8 do n *•*
Oroun Sec Co.n
Groun Sec Fullv Adm 8 d 8 9
G»oun Sec Indust Mch 15 -*3 i«H7
Grour Sec octroi 11 08 13 231
Grout* Sec HR EnulD d "7 dBBI
G-0110 Pec Steel is 40 50 •».'{
G. iun l e Tobacco 4 no 4 50
Growth Trdij.s Phrs . 1 Rfl 15 07
Incomer**erf Tn'-ome 8 «5 0071
Incnrp Investors 085 10 051
In.stt* Found F>»nd lost n wo|
Growth Fond ul7 j•• •*.>•
Inti Resource* Fond . 49* - 4f|
Investment Co Aner 0.33 l.»°n|
Jnve«» Tr»>st Pnston ini'* 11 39
K»' stone ctis* p 1 04 rto •»r > 4sj
—ev«*one rust « n ~4 jo
Kevstone Cll B 3 ... 17.15 181 1
F-vs»one run* B 4 m*»B u°3
Kevstone Cost « 1 _ 15 85 1T rtOl
K»v s tone Cust B « II «s•> 1 •»’df11
Kev« one C’"t P'l M •»« 15.50
'tv Ft I*l 11 51 I«» *iw
1 tfo Tn*"r «t»* 5.3? 5 8n!
n*n
Marhat p nd 720 rani
V*»'« lr\V*etr)V T'UjO 1» 43* 1•* .90
TrtVfetorr Growth 10 58 114‘»'
Ids WypH 37 00 40 07
Occur JS5* t(ni n
V°" Tnvect •« 083 lft«"
>’**♦ Per Pe» Pecf Ptk 84M 0 18;
ft' * Ofc «V*» 0 15 o 7«»
ft'* ttrr Oct ptoe’* !* 18 10 o*l
V"* p«c ««r Growth rtsl 7 11
F„ n d 18 '« m W<l
P'nc ft* *"«(ttrt "1 83 «»« 0 5
V «neer ii*’t 15 45
R-«rc TP O-OWth 30 It 30 4 *
P'*eit«r F"nd .. 00° *lO
P’>tn«rn Ge > Fond 1« 4*» 13.50
prtcncc ft V U rlcjl«- Fond 11 5* I*’s4
•*»c|irtder Q t r'tark 35 an 35 8*»
F«t«rted Ant ah**?* 8 8 n »;1
Fh«**r*)lrt r a Trust It m» I**«».t
Smith Fdson PFd 13 no 13.30
State «ircc* investment 30 no it s<»
♦erlln" Tnv Fund .. l m*v I*’< *,
'elev F’ect Fund _ . li.»« l*»'fio,
eras Fund 8, n t oni;
n*t Acciim Fond 11 3'* l"3ii
r ntt Cont Fund .... h.4s fi.«7i
Ti «♦ Tncom* Fund in 00 too7i
Tino Science Fund jo no not I
Value Line Fund d 10 fl.rt7
Vrtjiie Tine Income Fd 5 05 A.fto!
Mutual Invest 8 Brt 0 dß t
Wellington Fund 1C OH 14.13
Whitehall Fund 1150 17 5.T
I*Net asset value.
A i
ment at the Silver Spring office!
1 of the company.,
Mr Bowie has been with *he
! company and its predecessors for
■ 31 years and will remain in the
i Hyattsville office. Bruce Duckett
has been witn the bank 26 years,
fe merly was manager of the
. Mount Rainier office and more
, recently has managed the Hy
! attsville office.
Mr. Carey, a past president of
, Washington Chaptc American
Institute of Banking and now a
[ member of the chaptei faculty,
. is manager of the company's 15th (
branch in the new central ad
ministration building on New 1
Hampshire avenue extended Mr. i
, Howard is manager of the
i Be these 1 a office.
Profits Hold Steady
In a report to the stockholders
at their annual meeting pieced- i
ing the board session yesterday
• Mr. Duckett said gross income ,
1 of the company reached a new
: high i: 1956 although net profl’g
• showed little change due toi
- heavy expenses in construction
> and occupancy of the new ad-
I ministration building.
> The year’s revenues totaled !
■ $5,085,187,000, compared with
$4,942,315 in the previous year. I
After Federal taxes and re- 1
“ serve for bad debts net profits i
• amounted to $652,438, compered ’
with $648,924. Expenses rose |
‘ to $3,806,205 from $3,457,121. j
Mr. Duckett a iso not'd that ■
I assets reached a new high of I
; $114,279,946 at the end of 1956,!]
. compared with $108,846,850 a t
I "ear earlier. Deposits reached ]
.
$101,432,636.
J”bj’ threatening that if West
: irrhouse would not agree to it.
■ it would lose its NBC aluliation
in Boston and Philadelphia.”
■ Involved i:i the trade were
Westinghouse’s AM outlet htre,
. KYW, and RCA s Cleveland
i nations. WTAM-AM-FM and
' WBNK-TV. The transfer had
been approved by the Fed
-1 eral Comrr;unications Cominis
: sion. The suit is pending in
i ederal court here.)
RCA Statement
Philco claims it originally sold
the station for a price “substan
tially less than the proper ues
were worth.”
RCA issued a statement in
New York last night denying the
c iarges and adding that the
, “obvious purpose and intent of
the litigation was to throttle de
velopment of color tele: ision bj
[ reiteration of unfounded cha. ges
[ nirc'.e in oihei pending and un
; decided c.,es.”
RCA said its license to Philco
expired at the end of 1956 and
that Philco has “professed to be
negotiating in rood faith with
RCA for a renewal of its li
censor” Including those for
1 color TV.
"Although Philn claims in its
litigation to have developed a
; color system of its own, the pub
-1 lie has yet to see any such color
1 set,” tiie RCA statement added.
The American Tel. phone &
1 Telegraph Co. said th r re would
be no statement until officials
had oeen copies of the court
papers
There was no immediate com
-1 ment from General Electric.
, - - -j
Strip Mines Active
KANSAS CITY. —More han
9u per cent of all coai mined in
, Missouri and Kansas comes from
i surface mine operation*.
Reserve District No ft
REPORT OF CONDITION OF THI
Industrial Bank oi
Washington
Oi Washington D C a* the c’om of
business on December 3) lPftfl Pub
lished in response to call made by the
Comptroller of the Currency, under
Sect n s*2l*. u. s Revised Statutes
A£ ETS
1 Cash, balances with
other bank*. Including
reserve balance and
cash Items 1n process
of collection f071.2fc.P3
2 United States Govern
ment 0 igations. direct
and guaranteed 1.532.331 2ft
3 Obltgatio*'s ( States
and political subdivi
sions 40r 214 03
4 Other bonds, noter
and d entures 1.383 *76 00;
0 Loans and dieconnts
'lncluding S 3 5 89
overdrafts! 3.080.fcd9 15
7 Bank ore Ises owned
823.130,57. furniture
and fixtures 523.00004 40.220 01 I
11. Other assets 385.41
12. Tot Assets 57.41. .s**.* 28
LIABILITIES
13. Demand deposits of In
dividuals partnerships
and corporations §2 401.485 00
,14 Time dei.jsits of in
dividuals. partnerships,
and corpo tions 3.708.301 17
-Ift. Deposits of United
States Government 374,57. r 91
! 18 Other Deposits <certl
-1 fled and cashiers
checks, etc.) 41.740 37
10 Total DenoaltS.
c 3 580.? I ftl
J 23. Other liabilities 208.210 00
1 24. Total Liabilities f0.7w4.390.t>0
!
j CAPITAL ACCOUNTS
I yjs Car a) Btork
to Common stork, to*
tal par ,150.000 ,150.000 00
, :A Surplus 300,00000
. -*• Undlvtdfd profits HO.A.’tS.RB
, Rfjrrvrs 83.320 OB
,-B Total Capital Ac.
counts 523.158.58
’ 10 Total Llabllltl' and
| Capital Accounts ,7.417.. Mil 28
MEMORANDA
31 Assets pledged or a'
s.gned to secure liabili
ties and for other pur
poses ,854.582.50
i 32. si Loans as shown
above are after de
duction ol rese es
of 8,04 1 28
I. MERVIN O PARKER, vice' presl
- dent aad cashier of the above-named
' bank do solemn,y ewear that the above
statement Is true to the best of my
' knowledge and hellef
MERVIN O PARKER
. . ... w. Vlr * President-Cashier
City of Washington Disc let of Colum
' bla. ss:
' ,"*»'!! 1° ,D . d ““O'orlbed before me
this sth Jay c January, IBS., and I
, hereby certify that I am not an officer
or director of this bank
'Seal I VIROINIA D PETERS.
, , Notary Public
■ My commlaslon expires June 16. 1867
I Correct—Atteat:
II B DOYLE MITCHELL.
TALLEY R HOLMES.
I 1 ISAAC 8. MASON.
Directors.
l f
Mr. Sherwood
YOUR
MONEY'S WORTH
BY SYLVIA PORTER
Test of Bank Bigness
• In New York State t day, one
] of the most significant tests of
, the merits and dangers of l.g
. ness in ranking is now under
‘ wa..
And the outcome of this test
j will affect the financial lives of
■ m..lions of Americans.
They seemed dry enough lit
; tie items when they appeared in
l the flnanci.il pages a few weeks
> ago.
ij The fir t item revealed that
' the First National City Bank,
I semnd largest bank in New
i York, with resets of over $7.4
. billion, l.ad asked permission of
the Federa. Reserve Board to
i expand its operations into New
1 York's suburbs - -a step now
■ prohibited by State law It pro
posed to do this by affiliating
with the biggest bank in neigh
■ boring Westchester County and
, forming a new holding company
■ under the 1956 Federal Bam.
i Holding Company Act. Once
set up, the new hoidin com
pany could buy banks in any
part of the State.
The second item disclosed
[that the Chase Manhattan
Bank, biggtot in ti o city, with
assets of over $7.7 billion, also
wanted to move into the sub
urbs. It wanted to achieve this,
though, by a change in the
State's banki.g lathat would
enlarge the area in which New
York City banks could operate.
Banks Side Presented
fc.mple enou i All the two
giants want is to be able to
follow New York’s population
and money into the lush
suburbs. The banks insist—
'and with reason—that if th- y
merge with i. take over sub
urban institutions, stockhold
ers will profit and sub .rban
residents will bp able to ret new,
desirable and less expensive
banking services.
Those disclosures have forced
in‘o the open the smoldering,
bitter conflict over bank giant
ism, bank mergers and *he
spread r ? big banks cer an
entire state.
From coast to coast, cankers
and businessmen are watching
what is de.eiop.ng in New York,
are seeing this as a signal of a
new torrent of bank consolida
tions and mergers.
All over the Nation. State leg
islatures ar» rushin work in
new bills to curb the develop
ment of bank branches.
And in New York,
Nickel Output Record
COPPER CLIFF, Ontario, Jan.
[ls "P). —Nickel production in the
free world set a new record of
450 million pounds in 1956, the
chairman of the International
Nickel Co. of Canada Ltd., said
yr rterday.
Charter No. 1069 Reserve District No. 5
• REPOT7T OF CONDITION OF
THE NATIONAL METROPOLITAN
BANK OF WASHINGTON
r> n Ju ie u^i !> i' r * c * ColumKa. at the close of business on Dectrnber 31. 1956.
Publish, d In response to call made by Comptroller of the Currency, under
Section 5211, U. S. Revised Statutes.
ASSETS
Cash, balances with other banks, including reservp balance.
and cash items in proo ss of collection s£2 371,157.26
United States Government obligations, direct and guaran’eed 20,140,394.13
Obligat uns of States and political subdivisions 900 931*79
Other bonds, notes ard debentures 909 247 72
Corporate stocks (Including $90,000 stock of Federal Reserve
f Pank * . .. . , 90.001.00
Lo”r and discounts (including $3,407.49 overdrafts) . 21 348 841 02
Bank pr imses owned $1,361,135.20, f>:-nlture and fixtures
Total Assets $67,266,078.82
LIABILITIES
Demand deposits c$ inuividuals, partnerships, and copora
tlO: s __ _ $ ; 9,092,204 33
Time deposit l of indlviduels. partnerships, and corporations. 6,227,111.02
Deposits of United States Government (including postal sav
rJ???’ . , , - 2,780,796.87
Deposits o. bunks _ _ 2 711 03« 55
Other deposits (certified end cashier’s checks, etc.) 2.365.149.60
Total Depo its $63,176,299.37
Other liabilities 365,480.34
Total Liabiiitles $63,54X779.71
_ , , CAPITAL ACCOUNT'S
Capital Stock-
Common stock, tota! par $1,500,000.00 .. $1,500,000.00
• . - 1.500.000.00
Total Capital Accounts ... ~s3 724,299 11
Total Liabilities and Capital Accounts $67,266,078.82
MEMORANDA
As.,ets pledged or assigned to secure liabilities and for other
purpose 3 ; ... $12,382,297.23
I, H F. STOKES. Vice President end Casluer of the above-named bank,
do solemnly swear that the above statement is true to the best of my
knowledge and bell, f. H. F. STOKES. Vice President and Cashier.
Correct—Attest:
C. F. JACOBSEN, JOHN B. HYDE,
T*,,^ A w SON ’ RUSSELL E. SINGER,
JAMES M. JOHNSTON, Jl., GLEN E. EDOERTON,
FRANK F. NESBIT, DONALD D. SHEPARD,
JVv F -’to R t,°2, ILBY ’ C BAYNE MARBURY,
LOiMS D. BLISS, JAMES C. WILKES,
J ,T SOMERVILLE. ALVIN L. AUBINOE,
W K- WiMSATT. h. C. SHERIDAN,
S F « I , X r, MORLEY ’ LANDRA B. PLATT.
D. W. BROSNAN, : Directors
City of Washington, District of Columbia, ss.
Sworn to and subscribed before me this 4th day of January, 1967. and I
nereby certify that I am not an officer or director of this bank.
'° ea, - ) w W MATHIESON, Notary Public.
My commission expires February 14. 1861.
S'
Mr. Duckett
Mr. Lutes
the proposals have &U off an
uproar. - -
New York Gov. Ha'rhnan has
denounced th„ move as “igrit
ing what may be the greatest
chain reaction in banking his
tory." New York State Super-
Reserve District No. 5
REPORT OF CONDITION OF THE
NATIONAL SAVINGS AND
TRUST COMPANY
Os Washington 5. in the District of Columbia, at the close of
business on December 31, 1956. Published in response to call made
by Comptroller of the Currency, under Section 5211, U. S. Revised
Statutes.
ASSETS
.1 Cash, balance 0 with other banks, including re
s' rve balance and cash item: In process of
collection .... ... . . $16,135,217.36
2. United States Government obligations, direct
and guaranteed .... 16,683,363.11
3. Obligations of States and political subdivisions 374.454.59
4. Other bonds, notes, and debt ntures 376,505.14
5 Corporate stocks <including $150,030.00 stota
ol Federal Rese-ve banki ... 150,001.00
6. Loans and discounts (including $5,871 49 over
drafts i _ . . 28,335,669.10
7. Bank prumses owned $1,133,921 03, furni’ure
and fixtures $195,138.99 1,333,060.02
11. Other assets 64,118.47
12. Total ‘Assets ~563 452,393 79
LIABILITIES
13 Demand deposits of individuals, partnerships,
and corporations $40,909,468.30
14. Time deposits of individuals, partnerships, and
,corporations 14.9.'2.952.76
15. Deposits of United States Government 711,844.95
17 D posits of banks _ 77,795.03
18. Other deposits certified and cashier’s checks,
etc. i 347,123.47
19. Total Deposits .$56,999,184.51
23. Otaei liabilities 117,285.21
24 Total Liabilities ~557,116,469.72
CAPITAL ACCOUNTS
25 Capital Stock:
ic> Common stock, total par $1,000,000.00... $1,000,030 no
26. Surplus 4,000,000.00
27. Undivided profits 1,160,099.27
?8. Reserves 175,824.80
79. Total Cap.ial Accounts $673357924.07
30. Total Liabilities and Capital Accounts *^63,4527393.79
MEMORANDA
31 Assets pledged or assigned to secure liabilities
and for other purposes $6,517.04^17
I, J RUSSELL BOLTON. Treasurer of the above-named bank
do solemnly swear that the above statement is .rue to the best
of my knowledge and belief. J. RUSSELI BOLTON. Treasurer.
District of Columbia, ss
Swc n to and subscribed befrre me this 7th dry of January,
1957. and I heicoy certify that I am not an officer or director of
tnis bank.
1 'Seal.) JESSIE H. HANAGAN Notary Public.
My commission expires May 14. 1959.
Correct—-Attest:
BRUCE BAIRD, WILLIAM B. WILLARD,
JAMES M. BARNES. FRANCIS A. MURRAY,
JOHN M HOWARD. JAMES McD. SHEA,
MAURICE L. NEE. ROBERT W. WILSON
CLARENCE DODGE, LFWIS T. BREUNINOER
A F. O. LUCAS. JOHN L. SULLIVAN,
ERNFST W. GREENE, A. W. HOWARD
HOWARD B. NOYES, CLARK G DIAMOND,
MONTGOMERY BLAIR, Jr., GARFIELD I. KASS.
W. FRANK GATEWOOD, DAVID BORNET
WILLIAM C. FOSTER. Directors
'intendent of Banks Mooney has
warned this could lead to "con
centration of the banking indus
try in very few hands." New
I York Representative Teller, who
is head of the House Judiciary
[Committee, has condemned the
proposal as ‘ alumst Machiavel
lian in scope” ana a "monopoly”
subterfuge.
Suburban Bankers Protest
Dozens oi the State suburban
bankers have shouted that the
proposals are "unfair,” “injuri-[
ious,” "evil,” etc,, etc.
The New Yon* State Joint;
Legislative Committee to Revise:
the Banking Law has stepped up[
work on its overhaul of the
state’s laws. Says Thomas O.
Wagga. staff director of the com
mittee, “We (rust the Federal
Reserve Board will hold up uc-,
tion until we complete our study
and introduce legislation to pro
vide New York with more influ
ence over banking developments
and bank holding companies in
the State.” And Mr. Wagga
added, ‘The committee hopes to
have a new bill ready by Febi u
ary 15.”
The fear of the social and eco
nomic consequences of concen
tration o! powei over bank re-
sources in too few hands Is tra
ditional in our land.
One-thlid of the States—in
cluding Illinois, Texas, Wiscon
sin, Florida- permit banks tot
have no branches at all.
One-'hird including New
York, New Jersey, Massachusetts,
Pennsylvania permit only
limited branch banking.
Still, despite tht tradition and
the current uproar, the belief ti
that after a proper delay, the
Federal Reserve Board will ap
prove the First National City
Bank’s application.
Then girntism in barking and
[concentration ol power over bank!
[resources will move to new;
; heights all over the country. And
nly if the Sta*°s have the strong
backing of the people end on!’’
if they act decisively and quickly
will the rend be curbed.
'Copyright Jii.'iT, H»ll Syndicate. Inc.)
1 Columbia Federal 1
SAVINGS AND LOAN ASSOCIATION
■ 730 ELEVENTH ST., N. W., REpublic 7-7111 zftH,
HU Columbia the Protactieis p
H u
H STATEMENT OF CONDITION 1
P P
fell December 31, 1956 pj
1 ASSE,S 1
|g| F'”t Mortgage Loans 129,021,089 18
r=j Loans on Savings Accounts ..... 154,677.53
IsJ Other Loans (Home Improvement) 7 4,130,470.23 IBJ
PJ Real Fstate Owned (Va. nran li denied—Projierty to he 501 d),,, 111,755.50 -Uj
rpri Investments and Securities .... 2.0)4,150.75
IsJ Cash on Hai d and in Banks 933,375.02 [o]]
[l7] Offic. Buildings & F-juipment—less depreciation 1,154,232.45 [r?ij
Deferred Charges and Other Assets . 101,401.95 jgj
P TOTAL ASSETS $37,651,160.61 ggj
LIABILITIES 1!
Ibl ies]
ra Savings Accounts $32,127,635.68
IsU Advances from Federal Home Loan Bank 1,700,000.00 13j
[g 1 Borrowed Money ........... 300,000.00 SI
ra Notes Payable 106,867 $0
IsJ Two pores required by seller in seu.ement (or site
ncri of our Chevy Chase office.
Loans in Process .*..#»-» 413,343-94 oEjj
Ibl Other Liabilities 262,336.99 Irsi]
rp=n Liiearncd Income 406,990.<)6 S
Isl Specific Reserves 500.00 [o]
[EI General Reserves $1,982,805.54 [g]
fgj Surplus 320,6t50.30 2,303,485.84. j=j
HD TOTAL LIABILITIES 7. $37,651,160.61
n • |
[o] OFFICERS DIRECTORS J
C Cay Har: !1 .. Chairman of the Board Albert O. Denham William E. Poutton
Clarence E Kefauver - President __. .. .arc
|ISJ William F Poulr n Vut President and Treasurer C. Gay Harrell f eonard T Steuart [g]
ID T°wflham Rhjmenauer, Jr,. Corn'r'lle" W °' ,B Hohens,,in How * r<l F Thpmpson
. Ro nd M Brow. . Jr.^4 r^w .A s»stant Secretary Clarence £. Kefauver George C. Wentiel
liHJj Murray W Decaf rw ■>Assistant Secretary _ „ _ .. _ _ S]
rp=n Gordon Davis , _ Arc,can. Treasurer Eugene U. Umtt C j=d
|tEJ| Marie S. Assistin’ Treasurer Si
rj=ri Joseph L. Berry sis tant Treasurer
C G.ty Harrell, Jc^ vneavr 4ssisunc Secretary jS{
m I
P GENERAL COUNSEL APPRAISERS ||
fre]J W Owen Hohensrein. S.R.A., Eugene H
Wilkes and Atti* Murray W. Decatur, M.A.1., C G«> Harrell. Jtk l!=.
[(oil John F. Donahue. Lurher A. Bennett, iR A. rpi
“ John R- Pern, 1!-J
P 1
Ij member y
[ml Feder*? Home Loan Bank Sysrem [fjn]
Federal Savings and Loan Insurance Cor do rat ion [&J
fg] ‘ Disrrict of Columhia Savings and Loan Leagun [j^iT
{ —j United States Savings and Loan League
P [oi
j|j OFFICE HOURS
P Monday, Tundav, Wtdncada , and Brid.. now— n 4-00 p m S
Thurcday .. - - - , - - o nn am, CO SGO pm. ioj
C/c Stturd.y ■ )( =i
m\
T .’a
\
'Xv
Washington
reads TIME
Washington’s top officials vote TIME their first choice over
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important magazine in the United States today. TIME has a |j®Sii*w|
Washington circulation greater than that of Newsweek, U. S. IT IME ll
News & World Report and Business Week combined. IKmI
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TIME offers advertisers the biggest concentration of best cus -1 j * ,l#0 ’ 000 I
tomers and influential people available in the U. S. today
n a
CHICAGO LIVESTOCK!
CHICAGO. Jat.. Ift .PI (U.8.U.A.). — i
Salable ho«s JO.OOd; active; butchers
l|*»nd sows 25 *o 50 hiaher; shipper buyers;
carrying rathvr bro. d orders anJ tak.ug
weights up to i!SO ib : most sales ’ .3!
, mainly 2-. i butchers 190-250 Ib. IR.fiO
IR. several lots No. 1-2 200 ib. down
1K.75: 75 b*>ad mixed I j. 1-2 220 lb
’ 1H.85: latter price hiahest *.ere r.'nce
May 22. 1966; 250-270 lb. mainly 2-3]
17.75-18.00; some mostly 2 250 lb i
IS. 25 ind s’*ahtly above; 280-3.20 lb. I
1<.25-17.75; larger lots mixed graue
sows 350-550 1 sows 15.75-16.75; I
i mostly 16.00 and above.
Salable catt’e 7.500; calves 200;
steers slightly .rregular, generall fully i
steady, but choice over 400 lb steers
only steady; and spots 25 higher on
choice under 1100 4b.: heifers and cows
moderately active to 25 higher; bulls and
vealers fully steady; stockers and feed
°rs iarce. few sales steady; few lots
■ and loads high choice i d p.ime 1075-
1250 lb. steers 23 50-26.25; bulk good
land choice 18.26-23.00; •~hoice largely
120 50 up; some standard s’ *ers 1. 00-17.75:
17.75: load of prime 1050 lb heifer...
23.25: most high choice and prime j
21.75-22 V good to avert echo. e
7.60-21 5; standard heifers 14.50-1
I ] 6. iA; most utility and commercial cows
JO 5-12.60; few high commercial »ws
to 13.00; ennners and cutters 8.50-L
ll.oo; utillvj and commercial bulls ,S
j 14.00-1 u.Ob
IB
Imanagementl
I M 11 ■
1 I r"
ij J ■
‘ B
1 W
Our experience saves you time
and money.
Mortgage Loans
Property Management
Insurance
•
Founded 1892
B. F. SAUL CO.
Mortgage Bankers nnd Realtors
925 15th St. N.W. NA. 8-21 tj