D. C Wholesale VolumeUp 18.8 Pet. Since 1948

By DONALD B. HADLEYWholesale business Is growing

substantially in the District ofColumbia and in 1954 reached anew all-time high of $1,417,751,-900, a jump of 18.8 per cent from$1,193,556,000 in 1948, the CensusBureau reported today.

The latest figures, compiled inthe 1954 Census of Business, werethe first comprehensive study ofwholesalers here since a similarcensus in 1948.

The number of wholesaleestablishments in the Districtreached 1.089 m 1954, an in-crease of 6.7 per cent from 1,021In 1948. Employes totaled 16,661In mid November of 1954, oom-.pared with 16.250 in 1948. Theannual payrolls for the whole-salers in 1954 was $76,450,000,up 29.8 per cent from $58,923 in1948.

At the top of the list were 760merchant wholesalers with salesof $581,513,000 in 1954. comparedwith 644 establishments withsales of $467,410,000 in 1948, an18per cent gain in the establish-ments and a 24.4 per cent risein sales.

The number of establish-ments Hi other types of whole-sale business decreased to329 in 1954 from 377 in 1948.Their sales of $836,238,000 in1954 were 15.2 per cent ahead of$726,146,000 in 1948, however.

Ward, Baba Get Agency

Far Ohio NationalHarry J. Ward and Elmer W.

Baba have been appointed gen-eral agents for the Ohio NationalLife Insurance Co. in Washing-

ton, with offices in the 1 Dupont

Circle Building.

Mr. Ward is active in the'Junior Chamber of Commerce

and resides in West Hyattsville,Md. He is a graduate of George-

town University and is chairmanof the board of governors of Gon-taga High School.

Mr. Raba. a former footballplayer at West Point, NotreDame and Georgetown, wasgraduated from Georgetown in

1949. He is a member of theTouchdown Club and resides in.Crestview, Md.

Hall and Jones to DirectEstate Planners Day

J. Fontaine Hall, vice presidentof the National Savings and TrustCo., and Chester R. Jones, gen-

eral agent for the MassachusettsMutual Life Insurance Co., havebeen named general chairmenfor the annual Estate PlannersDay scheduled at Hotel StatlerFebruary 27.

Howard Riordon. general agent

for the Continental AssuranceCo., will be in charge of arrange-

ments.. L. W. Gunther, trust officer ofSuburban Trust Co. and Charles jF. Suter, general agent for Mass- iachusetts Indemnity Insurance |Co., will handle publicity and'bulletins.

James H. Benner, of Massa-chusetts Mutual will be ticketmanager and Thomas S. Lawson, ;assistant secretary, trust depart-ment. Union Trust Co., will serveas treasurer

Food Fair Markets FirmPromotes W. B. Mente

William B Mente has been ap-pointed controller for the FoodFair Super Market Companies,President Bernard N. Siegel an-nounced.

Mr Mente. formerly connectedwith the accounting firm of Mor-ris B. Hariton, will assist thetreasurer of the companies inthe development of accountingsystems, budget and fiscal con-trols and auditing.

He has been with the com-panies for the last two years andMr. Siegel said his appointmentwas in line with the policy ofpromoting from within the or-ganization. »

Akers Firms to Pay 25 Per CentOs Profits to Employes

Akers Oldsmobile-Cadillac Coof Alexandria and the SuburbanCadillac-Oldsmobile Co. of Be-thesda. will distribute 25 per centof the companies' profits for 1955to 375 employes. President FloydD. Akers reported yesterday.

The distribution under theprofit-sharing plan will be madeat the annual Christmas meetingtomorrow. Each employe willreceive $9.41 for each share rep-

resenting one full year of em-ployment.

Mr. Akers said a majority ofthe employes hare an averageof 10 or more years of service.In addition, each will receivearound 4 per cent of annualsalary as additional recognitionof his years of service.

The distribution from 1955profits is the ninth consecutiveyear in which employes haveparticipated in profits. Mr. Akersdeclared.

Clarendon Trust PlansYule Party Tomorrow

Clarendon Trust Co. employeswill have their annual Christmasparty at Hunting Towers, Alex-andria, tomorrow night.

Preston Sewell is chairman.Assisting him are Mrs. GraceNewman. Mrs. Ellen Gerlach,Mrs. Jennie Baker, Miss Elisa-beth Strub and R. Y. Watson, Jr.

Yale Dinner MeetingHeld by Controllers

District Control, ControllersInstitute of America, held itsannual Christmas dinner meet-ing at the Sheraton-CarltonHotel last night.

E. K. Morris, president ofFederal Storage Co. and thisyear’s general chairman of asuccessful Community Chestdrive, was guest speaker. G.Stewart Phillips, controller ofthe Washington Post and Times-Herald and this year's presidentof the control, presided.

Kenneth D. Ashton HeadsVirginia Insurance Men

Kenneth D. Ashton has beenelected president of the North-ern Virginia Association of In-surance Agents, it was an-nounced yesterday.

Formerly vice president anda director of the association. Mr.Ashton is assistant vice presi-dent and manager of insuranceoperations for the ArlingtonRealty Co. He has been activein the automotive safety field inArlington.

MUTUAL FUNDSNEW YORK. Dec. 21 (F.—National

1Attention Securitlea Dealers. Inc.Biel Aikzd

| Affiliated Fd ..... 597 8.46lAm Eus Shr* 407 "

4.3*Am Mut Fd 8.71 9.82

i Assoc Fd Trust 15* 1.70; Atom Dev Mut 14 OO 13.33Axe Houghton A 0.08 0.01Axe Houghton B 2* 13 27.32

i Axe Houghton Shk 4 08 4.44, Blue Rldee Mut 13.48 14 05[Boston Fund 16.5* -.7*0

i Broad St Tn»... .

31.40 “3.44j BtittoeV *u*"d 13,’S 1.1,34

e- HO*Canadian Fd 17.58 19.03

, Cap Venture 8.75 0.80i Century Shrs Tr 25.80 27.89! Chemical Fd 15.71 18.99Colonial Fd 20.14 21.80Comwlth Invest 911 9.90

(Delaware Fund 10 89 11.98I Divers Orth Stk 11.80 13.00'Diver.* Invest Fd ... 9.20 10.18

: Dividend Bhrs 2.68 394

i Dreyfus Fd 0.00 9,78I Eat & Ho* Bal “1.09 22.88I Bat A Ho* Stk ....... 19 27 20 61’Electron lnv i. 468 8.11i Fidelity Fund 14.61 1* 79| winan Ind Fd 3.90 *.28I "ounders Mut Fd 7.78 791

j *tfnd*raental lnv l*.S* it 49j 0»s Indust Fd ,13.40 1< As

! eieoun Bee <*•*, (wh 8.7* 9**j “*mis »*e ev*n It 8“ *3 01

! Grout) Sec Petrol 10.47 11.47Group Sec Steel 15.43 16 88’Group Sec Tob 427 4 119Growth Indus 14 *9 15.03 1tHsydock Fund 2*80 25.80 jIncorp Income 9.28 10 14.Ip.corp Investors 18 75 20.271Investment Co Am 9.33 10.20jInvest Tr Bost 10 06 10.99Keystone Oust B 1 26 5! 27.67Keystone Cuss B 3 "*.78 “8 13‘faviinn*l Cm* » H JO Sfi "RKeystone Cust B 4 11.22 12.24

jKeystone Cust K l 19.73 21.53[Keystone Cust K 2 11.25 12.28! Keystone Cust 8 1 16.37 17.86Keystone Cust 8 2 12.00 13.10

! Keystone Cust 8 3 13.00 14.18[Keystone Cust 8 4 , 931 10.39

| Keystone Fd Can 10.22 11.06Lexington T Fd 11.61 12.69

! tLoomis Say Mut 43.64 43.84i Monas Fd: Oen Ind ... 418 4.58! Manhat Bond Fd 8.29 9.09Moss lnv Trust 33.11 35.79Mas, lnv Orowtb 9.38 10.14

jMass Life Fd 37.81 40.88INatl Investors 18.79 19.23[ N Sec Ser-Pref Stk 9.36 10.2 d[ N Sec Ser-lncome 6.42 7.02!N sec Ser-Stock 8.71 9.52,N Sec Ser-Growth 5.91 6.46

: Philo Fund ...17.98 19.62

Pine St Fd 22.28 22.74Pioneer Fd 13.27 14 42

|Price. TR Growth 28 64 28.9.3Puritan Fund 664 7.18rscudder St A- Ck 85.78 35.78

J select'd Am Sh 9.80 10.80j Sh-rehldrs Tr 12 2* 13.24I state street **>v -

37 *<l SO 00[Vet— B’set Fd 11.38 1“.4«

’ Texae Fd 7.83 855(Unit Accum Fd 10.50 11.48Unit Cont Fd 7.67 8.38

[ Unit Income Fd 9.79 10 64Unit Science Fd —lO.lB 11.13

[ Value Line 7.24 7.91i Value Line Income 6.34 H.93I Von Strum & T 12.51 13.63! Wash Mut lnv 8.43 921

Wellington Fd 26.38 28.75Whitehall Fd 24.04 25.90INet asset value

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7 Promoted by A.S.&T.And Anacostia National

Directors of American Security & Trust Co. and AnacostiaNational Bank yesterday announced a total of seven promotionsincluding a new vice president and three new assistant vicepresidents.

Paul J. Seltzer was elevated to vice president of AmericanSecurity from assistant vice president. Earl W. Leach and John L.Bryant, former assistant treas-urers, were elected assistant vicepresidents and Claude E. Millerwas named assistant treasurer.

The Anacostia board promotedCarl A. Steele from assistantcashier to assistant vice presi-

dent. elected David B. Griffin,Jr., assistant auditor and namedClyde L. Oglesby manager of thebranch at Bolling Air Force Base.

Mr. Seltzer is a past president

and faculty member of Washing-

ton Chapter, American Instituteof Banking. A native of Wash-ington, he joined the trust com-pany in 1917, became assistant;treasurer in 1938 and assistantvice president in 1950.

| He is currently serving aspresident of Chesapeake Chap-ter. Robert Morris Associates,organization of bank credit men,is assistant treasurer of NationalCapital Area Council. Boy Scoutsof America and is assistant;treasurer and a trustee of DavisMemorial Goodwill Industries.

Mr. Leach was born in Bruns-wick, Md.. and is a graduate ofStrayer College and American iInstitute of Banking. He joined;

the company in 1936 and becameassistant treasurer in 1951. Hewas a captain in the Air Forcein World War H.

A native of South Carolina,Mr. Bryant joined American Se-curity in 1931 and was electedassistant treasurer in 1952. He isan AIB graduate and attendedFurman University and Benja-min Franklin University. Heserved in the Navy in World WarH.

Mr. Miller has been withAmerican Security since 1931and has been with the Woodley

Park branch since 1951, first as;assistant manager and then as!manager. He is a past chairmanof the Safe Deposit Section ofthe District Bankers Associationand is vice president and a direc-tor of the Optimist Club of Up-;town Washington. A native ofBaltimore, he attended publicschools here. Benjamin FranklinUniversity and the AIB. Heserved in the Marines in WorldWar 11.Yule Bonus AnnouncedAt Anacostia National

In addition to the promotionsat the Anacostia National Bank,President A. Scott Offutt an-nounced the usual Christmasbonus of four weeks’ pay had;been paid for service of a year or imore.

At the bank’s Christmas party

at the Bhoreham Hotel tomorrownight, awards will be made to 30members of the staff for perfectattendance. Top honors of seven$25 savings bonds will go to Rob-

FOREIGN EXCHANGENEW YORK. Dec. 21 l**.—Foreign

exchange rate* follow .Oreat Britain mdollars, others In cents (unchanged un-less otherwise noted):

Canadian dollar In New York openmarket per cent premium or lOO.OUVsU. 8 cents.

Europe: Great Britain (pound). 2.80A.oil 30-day futures. 2.79 V off

’6O-day futures. 2.79 15/32. on ~v’i9o-day futures. 2.79,',, off Belgium

(franc). 2.00 V France (franc). ,38H ofis cent: Germany (Western) ideutschemark'.23.Bo: Hofltnd (guilder). 26.16.up .01: Italy (lira), ,16Vi of a cent:Portugal (escudo’. 3 50: Sweden (krona).19.34; Switzerland (franc) (frte). 38.34;1Denmark (krone). 14.50.Latin America: Argentina (free), 2.80:Brazil (free). 1.52; Mxlco. 8 20; Vene-zuela (bolivar). 30.03.

Far East: Hons Kona dollar. 17 60.

ert L. Klugel for not missing aday’s work in seven years.

In addition to the awards, aspecial bonus of two weeks’ pay:will go to employes with perfect lattendance in the last year.

The Anacostia bank’s new as-sistant vice president, Mr. Steele, jbecame associated with the insti-tution in 1935. A native ofWashington, he was educated inthe public schools here, attendedAIB and was graduated fromthe Graduate School of Banking,at the University of Wisconsin.;

A native of Garden City. La.,Mr. Griffin is a graduate of theUniversity of Virginia and at-tended George Washington Uni-versity Law School prior to 314years of service in the Navy. He |is attending the graduate school,for bank auditors at the Univer-;

I slty of Wisconsin.

U. S. Plans’to SueLouisiana on Oil

I I The Justice Department has: taken the dispute over Louls-

-1 iana’s boundary lines in the' Gulf of Mexico to the SupremeCourt.

The department yesterdayasked permission to file suit be-

; fore the court against Louisiana.The dispute involves owner-

ship of submerged lands whichthe department said have oildeposits of “enormous” value.

The Government claims Louis-iana’s boundary in the Oulf is3 miles from shore. But, theJustice Department said. Louis-iana claims the boundary ex-tends 9 miles “from a very ex-tended line claimed to be the

' outer limit of inland waters.”I ' 1 1,1

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2nd NationalVotes ExtraOs 4 Pet.

Directors of Second NationalBank today declared, a regularquarterly dividend of 2 per centor $1 a share and an extra divi-dend of 4 per cent or $2 a share,President John A. Reilly an-

nounced.The institution thus maintain,

a dividend record Os 12 per centfor the sixth year in a row. Theyearend payments will' be pay-able December 30 to stockholdersof record December 22.

The annual bonus was de-clared and paid in October.

Lots of Cotton in CarsFLINT} Mich.—The automo- j

tive Industry uses about SBO mil-:lion worth of cotton every year.

TBusiness

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