OCR Interpretation


Evening star. [volume] (Washington, D.C.) 1854-1972, March 18, 1962, Image 46

Image and text provided by Library of Congress, Washington, DC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045462/1962-03-18/ed-1/seq-46/

What is OCR?


Thumbnail for D-8

D-8
Business
Federal Plans
14 More Floors, Nearly
-Triple Main Building
By DONALD B. HADLEY
Star Financial Editor
Columbia Federal Savings and Loan Association will add
four more floors to nearly triple the space in its main office
building to provide for growth which has lifted assets to a new
record of more than SB7 million.
President Clarence E. Kefauver announced award of the
construction contract to Prescott Construction Co. yesterday.
Work will start within a few
days and completion is expected
by early 1963 at an over-all cost ,
of well over $500,000.
When the present main of- |
fice at 730 Eleventh st. n.w„
was constructed in 1948 the
foundations fortunately were
built to support additional
floors.
At that time assets totaled
sls million or little more than
one-sixth their present level.
The staff which numbered only
26 at that time has grown in
proportion.
Columbia Federal now has
three branches in the District
of Columbia and its data* pro
cessing, mortgage loan and
home improvement loan pro
cessing and internal audit sec
tions all are centralized in the
main office.
The architectural firm of
Chatelain, Gauger and Nolan
has prepared the design and
plans for the new construction.
The six-story and mezzanine
building will rise to the height
of. the neighboring Washington
Gas Light Co. building. It will
be faced with Indiana lime
stone, accented with a full
height panel of Sunset Red
granite.
Columbia Federal will con
tinue operations in the build
ing during the construction
period although some altera
tions will be necessary in the
first floor lobby to provide for,
an additional elevator and ex
panded teller counters, which
will occupy the entire floor.
Present plans call for tabu
lation equipment and the audit
department on the second floor,
the mortgage loan and home
improvement loan department
on the third floor, rentable
space on the fourth and fifth
floors and the executive of
fices, board room and an en
larged cafeteria on the sixth
floor.
Sales Gains Shown
By Bowl America
Gross sales of Bowl America,
Inc., totaled $302,517 in Febru
ary, a gain of 54 per cent from
$195,705 in February last year,
it was announced by C. E. Gold
berg, president of the Washing
ton-Baltimore bowling chain.
Sales for five months of the
current fiscal year totaled sl,-
273,000, compared with $812,-
525 a year earlier, he said. The
firm operates 11 centers now,
compared with 7 centers a year
ago.
Area Car Sales Start
1962 With Increase
Area automobile sales are
making a good showing after
an above-average performance
In 1961, reported Maurice J.
Murphy, executive vice presi
dent of the Automotive Trade
Association National Capital
Area.
The area’s January passen-
CALL STerling 3-5770
Facilities available for outside catering.
We've catered to six, catered to 6,000.
Make your affair "Presidential Arms
Perfect" with our planning assistance,
experienced staff, and courteous service.
We're available for "Affaires Grandes"
and intimate gatherings anywhere in
the Metropolitan Washington area. __
• Banquets • Weddings • Dances
• Receptions • Clubs
• Cocktail Parties
Washington’s Banquet Center
1320 GSt N.W. Washington 5, D. C.
THE SUNDAY STAR
Washington, 0. C.
March It, 1962
ger car sales totaled 7,105 units,
compared with 6,300 in Janu
ary last year. Sales of com
fnercial vehicles totald 478
units, compard with 370 a
year earlier.
Mr. Murphy pointed out that
area passenger car sales
finished 1961 with a 2 per cent
gain from 1960, while sales in
the entire nation went down
10.98 per cent.
$500,000 Mortgages
Purchased for Union
Berens Companies partici
pated in an interesting finan
cial development recently when
a $500,000 block of FHA and
VA mortgages was put together (
for the investment of funds of
the Amalgamated Association
of Street, Electric Railway and (
Motor Coach Employees of ,
America.
In announcing conclusion of i
negotiations, Hector Hollister, i
Berens executive vice president, ;
said the association was able :
to invest its money in rela
tively risk-free mortgages with
a good return and high
liquidity.
Negotiations were handled by
James C. Latta, Berens vice
president for loan sales, and
Peter L. Gilsey of Peter Ladd
Gilsey Associates representing
the union. The sale reflects the
growing union interest in
mortgages, Mr. Latta said.
Save-Mor Drug Sales
And Profits Rise
Sales of Save-Mor Drugs,
Inc., totaled $3,840,000 in 1961,
compared with $2,729,000 in the
previous year, President Albert
Pearlman announced.
Profits amounted to $103,017
before taxes, compared with
$42,300 in 1960, he declared.
The company opened its ninth
store and put into service a
fleet of economy delivery trucks
in the year.
Atlantic Research
Gets Big Contract
Atlantic Research Corp, has
received a $500,000 contract for
a spherical rocket motor from
the jet propulsion laboratory of
the California Institute of
Technology acting for the Na-
COTTON
NEW YORK, Mar. 17 (AP).-Cotton
futures prices were irregular this week,
closing from 30 cents a bale lower to
90 cents a bale higher. The nearby
months showed gains of 40 cents to 90
cents a bale.
The relatively short supply of nearby
futures, compared with stocks, continued
to strengthen prices for the March con
tract. In addition, offerings were limited
as tread commission house buying de
veloped.
The Cotton Exchange Service Bureau
estimated exports for the week at 126,000
bales, compared with 93,000 a week
earlier and 165,000 in the comparable
week of 1960. For the season through
March 13 exports totaled 3,281,000. At
about the same time last year 4,542,000
bales had been shipped.
3 -
I iW pl
! Saw . M j
Mj
JO U M□ zu
flfr H 3383 <
HASSEL ""
w. mrafr ■■ ■ *•
Architect’s drawing shows how the main of
fice of Columbia Federal Savings and Loan
Association will look at 730 Eleventh street
N.W., after the addition of four floors.
tional Aeronautics and Space
Administration.
The contract calls for fabri
cation and testing of 17-inch
diameter spherical solid-propel
lant rocket motors with ti
tanium cases. Their compact
ness will make them suitable
for upper stages of multi-stage
rocket vehicles.
Anniversary Planned
By Credit Women
The Credit Women’s Break
fast Club will celebrate its 24th
anniversary at a breakfast at
the Willard Hotel on Wednes
day.
Founded in 1938 with 40
members, it now has a member
ship of more than 100 from
leading stores, banks and other
institutions.
Speakers at the anniversary
will Include: J. P. Stedehouder,
president of the Credit Bu
reau: John K. Atlhaud, secre
tary-treasurer of the bureau,
and Frank W. Miller, president
For serious consideration... insurance for your portfolio
as
indicated f LIFE INSURANCE COMPANY
by ' Washington, D. C.
Last year, the Dow-Jones Industrial Stock average showed a gain of 18.7%.
Similarly, Best's Life Insurance Stock average reflected a gain of 94.5%!
CONSIDER THIS:
• Life insurance in force has doubled in just 7 years.
• Such companies have two income sources... premiums and invest*
ments.
• They are relatively free of obsolescence, foreign competition, in
ventories and rising labor costs.
Within this industry, it is our observation that Peoples Life Insurance
Company, Wash., D. C., Is particularly worthy of consideration. Estab
lished in 1903, it now shows gross assets in excess of $152-million—with
insurance in force totaling $Bl9-million!
I SUPLEE, YEatman, MOSLEY CO. I A Our special study, prepared from she
I I . N .S.? R^,°! iAT e D ▼ investors’ viewpoint, now is available.
| .1500 Walnut Street, Phila. 2, Pa. | r
I Please forward, at no obligation, your special I
I £. p, “ Us - ,nwren “ Company ' I Suplee, Yeatman, Mosley Co.
I Name j Incorporated
| Addr ”*- | 1500 WALNUT STREET PHILADELPHIA 2, PA.
| City State I
L
«
(ARLINGTON )
\ TRUST COMPANY J
FOR BETTER IDENTIFICATION....
The Arlington Trust Company introduces the revised corporate trade
mark which we consider to be representative of our dynamic growth in
one of the Nation's fastest growing consumer market areas. Our friendly,
complete banking service is in keeping with Arlington Trust Company's
tradition of serving the banking needs of northern Virginia for more than
half a century.
Opposite Arlington Courthouse: MAIN OFFICE '
Columbia Pike and So. Geo. Mason Drive: BARCROFT OFFICE :
The River House: PENTAGON CITY OFFICE /ARLINGTON A
Rosslyn Circle and No. Moore Street: ROSSLYN OFFICE I trust COMPANY J
Arlington Navy Annex Building: FACILITY
MEMBER F.D.I.C,
of the Retail Credit Associa
tion of Metropolitan Washing
ton.
Navy Lets $259,000 _
Contract to Rixon
The Navy Bureau of Ships
has awarded a $259,000 con
tract to Rixon Electronics, Inc.,
of Silver Spring for the manu
fature of teletype multplex
equipment. President James L.
Hollis reported.
Mr. Hollis said the new con
tract raises the total new
business in the last week to
$411,00.
Drug Fair Votes
Regular Dividend
Directors of the Drug Fair-
Community Drug Co. have de
clared a regular quarterly divi
dend of 10 cents a share on
Class A common stock, pay
able April 30 to holders of
record April 16.
Drug Fair No. 71 will be
Hotel Sales
Turn Higher
In February
Sales of 35 member hotels of
the Washington Hotel Associa
tion were 5.9 per cent ahead
of a year ago in February, but
for the first two months of this
year remained 3.2 per cent
lower, reported Bourbon Dawes,
executive vice president of the
association.
The February spurt after a
quiet January pushed room
sales 5.7 per cent above a year
ago, although two months vol
ume in this category remained
2 per cent behind.
February food sales were up
5.2 per cent, but two months’
sales were down 4.6 per cent.
February beverage sales were
8.6 per cent above a year ago,
but two months’ sales were off
4.7 per cent.
A February occupancy rate of
71.7 per cent for the 10,298 cov
ered rooms was up 2.8 per cent
from February last year. A two
months’ rate of 69.3 per cent
was off 1.2 per cent.
opened in Harrisonburg, Va.,
on Saturday, March 24.
Blanche Firm Files
Registration Data
Ernest E. Blanche & Asso
ciates, Inc., of Kensington, Md„
has filed a registration state
ment with the Securities and
Exchange Commission covering
proposed public offering of
80,000 shares of Class A com
mon stock at $3 a share.
The offering would be made
on a best-efforts basis by Jones
Kreeger & Co. and First In
vestment Planning Co., both
of Washington.
Davis Iron Forms
New Subsidiary
Davis Iron and Metal Co. in
Arlington, Va., has formed a
new subsidiary, Electric Equip
ment Corp, of Virginia, to pur
chase and sell new, used and
rebuilt electrical equipment.
Offices of the subsidiary are
at 608 South Ball St., Arling
ton. Burton V. Davis is presi
dent and Alex Gendell is vice
president.
I If you have had experience in
B INSURANCE OR SECURITIES SELLING
ry And the only obstacle you found impeding your success was
prospecting, you should be interested in the opportunity we
are offering to work in an exclusive market of qualified
ACCUMULATION" prospects.
Guaranteed Base Salary: EX’*"" ” 10 ” ,2M ’ Sw
Qlislificationsi Common sense, ambition, honesty and a willingness to work.
CALL:
J. WALLACE REID AND ASSOCIATES
Suite 302, 1801 N. Moore Street Arlington 9, Virginia JA. 4-8282
Key Positions in
TECHNICAL MANAGEMENT
Now Open at
SANDERS’NEW COMMUNICATIONS CENTER
IN WASHINGTON, D. C.
Sanders Associates has grown—from 11
founding engineers in 1951 to an employee l* 10JnlUIIO ?lim
roster of 3000, in 5 plants, today. Perhaps the SALES
most spectacular evidence of this young com- ”**
pany’s success is illustrated by the accompany
ing chart HET ' lim1 im
INCOME
And Sanders plans to go further still. **•*
The opening of the new Communications stockholdek
Center in Washington, D. C, creates a few equity
high level positions for Engineers who would i«u
be interested in the challenge of making this —————————M
new facility parallel Sanders’ established rec- 1270.000 «<i.ft7l IM#
ord of growth. To this end, each will perform
both technical and technical management ini
functions within his own area.
EQUIPMENTS DESIGN COMPUTER & CONTROL
To supervise a group of specialists This group Is engaged in the conceptual
engaged in engineering layout, design, . design and analysis of computer-control
assembly and testing of prototype com- techniques applicable to communications
munication equipments (analog and digi- systems. The applicant should have an
tai). The applicant should preferably hold advanced degree, preferably In EE, with
a combined ME/EE degree and have a thorough background In both analog and
minimum of 5 years experience in the digital computing techniques and design,
mechanical/electrical design and engi- and In the practical application of ad
nearing of military equipments, together vanced control theory. While he should
with several years experience in the de- have a good communications back
sign of solid state circuits to military ground, he will be less concerned with
specifications. A knowledge of the state communications equipment design than
of the art in high density packaging tech- with the optimization of communication
niques, quality control, reliability and systems by the application of modern
specifications engineering is required. computer-control theory.
All inquiries will receive prompt
attention. Please contact Mr. George Franco,
WgM Manager, Communications Center.
SUNDERS RSSOCIRTES, INC.
COMMUNICATIONS CENTER
6135 Kansas Ave, NE, Washington, D. C. An Equal Opportunity Employer
Save at
National Permanent Savings
and get
EXTRA DIVIDEND
DAYS
Savings Received by
the 20th of the month
earn dividends from
the Ist of the month!
K savings account has always been a wise choice and
it’s the hallmark of wisdom to do one’s saving at
National Permanent. Safety of your savings insured
up to SIO,OOO by Federal Savings & Loan Insurance
Corporation, an agency of the United States Govern*
meat. Dividends are credited 4 times each year • • • the
current dividend rate is 4%. Open a savings account at
the National Permanent office nearest you.
/NATIONAL \
( PERMANENT A
\ SAVINGS J
AND LOAN ASSOCIATION /
Founded IMO
DOWNTOWN CHEVY CHASE-CIRCLE
14th A O StrMt, N.W. 5700 Connecticut Avmn
f
CONN. AVE. A K STS. LANGLEY PARK, MD.
1000 Cennwticirt Avanu* 7*33 Naw Hempthlra AvaMO

xml | txt