Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-01-22
BY EDWARD C. STONE.

George j. Seay governor of the
Federal Reserve Bank of Richmond,
in his preliminary report to stock
holders, states that the volume of
business in 1926 surpassed all previ-
Gus records. Net profits amounting
to $727,645 means a gain of $751;
$50 over the 1925 figures, or more
than % per cent. Gross earnings
were $2,429,017, against $2,1S2,459 in
1925. Expenses were $4,000 less
than in the previous year and the
lowest since 1919.
The balance added to surplus after
the payment of dividends was $685.
6S7. compared with $217,947 in 1925.
Surplus at the end of the year was
brought up to $12, 19S,1S5.
The report shows that total bills
discounted in the fifth Federal re-
serve district in 1926 amount to
S2,732,649,373, against $2,265,228,331 in
1925 and 81 7,776,365 in 1924. Vol
ume of discounts was $178,037, 1926 less
than in 1928.
Total bills discounted and pur-
chased was $2,821 $40, 2S0, compared
with S2,314,263, 1916 in 1925. In it's
clearing operations the bank handled
a total of 50,430.000 checks during the
year. a new high record. But the
dollar amount of the checks was
higher in the previous year, totahng
S14,O3S.542,000 in 1926 against $l3,-
924.751 900 in 1926.
Budget Estimates Suggested.
The Thrift week committee makes
several important suggestions on the
best ways to divide up family quo
get. For an income of 500 per month
for one person it is suggested that
$40 be saved, SO used for charity,
S35 for food. $40 for shelter, $40 for
clothes, $40 for operating expenses
such as fuel, light. water, ice, extra
help, insurance, ETC.; IS for recreation,
including books, sports, lectures ana
medical attention, thus using up the
500.
For a family of two receiving $3.50
per month a division might be $40
for savings, SIS for giving, $40 for
food, $40 for shelter, SO for clothes,
SIS for operating expenses and Sl5 for
advancement. 1t is suggested that IN
a family of three getting $500 per
month the division might be S25 for
savings. $50 for giving, $50 for food,
$50 for shelter, $40 for clothes, $40
for operating expenses and SIS for
advancement.
Among others is an estimate of q
family of four on an income OF $500
per month, $50 being set aside for
saving, $50 for giving, $40 for food,
$50 for shelter, $40 for clothes, SO
for opera ting expenses and $40 for ad-
vancement Other estimates are in
cluded in the budget books the banks
are now giving away and all are well
worth careful study.
Mortgage Company's Officers.
Directors of the Federal Security
l. Mortgage Co. elected at the an
nual meeting include r. P. Andrews,
Harry NJ. Crandall, E. T. Chewing,
Morris Cafritz, Charles A. Goldsmith.
W. w. Griffith, Norris Gewirz, George
w. Huguely, Paul Himmelfarb. Yer
non G.. Owen, Maurice d. Rosenberg,
Joseph 2. Shapiro, William w. Mac
kali, jr., and James r. Smith. The
last mentioned are new members, Mr..
Mackall being a Baltimore banker,
and Mr.. Smith connected with the
National Radio Institute.
The directors elected Morris Cafritz,
president; Harry NJ. Crandall, vice
president; George w. Huguely, vice
president and treasurer, and Morris
GeWlrZ. secretary and general man.
ager. The president made his annual
report, stating that the company
opened its doors in January, 1926,
with a capital of 100000 and that
it now has resources of 81, 0O0, 900.
Savings Bank Elects Officers.
The organization meeting of the
directors of the Northeast Savings