Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-09-23

signable to opera
tions for the month Euse"e MEYER
of August were $42.206. Taxes for the
first eight months of 1928 amounted to
S390,321, an increase of 1850 per cent
over the same period in 1927.
At the close of business August 81,
there were 145, Ala telephones connected
with the IL central offices serving the
District of Columbia, an increase OF
1929 since January l. During the
month of August telephone users made
444.l63 out-of-toWn calls, an increase
of lib per cent over the same month
OF last year.
Plant and equipment added to the
telephone system in Washington during
the first eight months OF 1923 involved
expenditures of 81 ,465, 1923. RetlrementS
during this period were $996.618, max
ing net additions for the period ending
August 81, $469,2i0. The total net adj
Citions to plant for the IL months end
ing August 81, were $685. 64.
After all deduction the company had
q total net income for August of $50, 552,
in comparison with a net of $88,985 in
July and S94,388 in August, 1927.
Bankers Ready to Aid Farmer.
Chairman Eugene Meyer of the
Federal Farm Loan Board, who has
Just returned from tour of the Mid
die Western and Northwestern States
asserts that the agricultural situation
in the United States is better this
year than in several years. Virtually
all crops are better than last year, he
says. There is an immense corn crop
in the West and the live stock situa-
ton is particularly favorable, the
chairman asserts.
The country banks are in their best
position of years and are more able to
care for the farmers needs than they
have been for some time and are doing
so. according to Mr. Meyer. This is
being done at reasonable interest rates.
The wheat crop is very good and
there is greater disposition among the
farmers to hold it for better prices, he
reports. The farmers are able to DO
this, together with the aid of the
banks.
Nearly all of the smaller crops also
are good and command good prices.
Potatoes and barley were noted as two
exceptions.
Land prices are improving and
there is better market for land than
in some time, Mr. Meyer says.
Banks TO Close Saturday Night.
Employees of local banks in the
Ninth and Seventh street areas will be
delighted to learn that final action
has been taken and an agreement
reached to continue Saturday night
closing throughout the year.
The banks in the agreement include
the Southwest and Central branches
of the American Security & Trust Co,
Bank of Commerce g. Savings, District
Nationals Ninth street branch, Frank
lin National Mount Vernon Savings,
National Bank of Washington, Riggs
Seventh and I streets branch, Security
Savings g. Commercial and the wash
ington Loan & Trust Co.
The Security Savings 81 Commercial
and the Mount Vernon had alreaoy
taken independent action in the mat
ter but affixed their signatures to the
latest agreement. The Saturday closing
question has been agitated for some
wears. In the old days when many OF
the largest stores in the city were open
SATURDAY. evenings the need Of the
banks keeping open was clear. Oncials
say that conditions have now changed
until they believe the closing will cause
little or no inconvenience. In other
sections of the city the banks will con-
! tinue their present schedules on Sat
urdays
Cotton Cloth Demand Improves.
Cottons have returned to fashion
prominence with indications of a still
greater demand for smartly styled cot
ton dresses and piece goods in 1929, ac-
cording to a survey just completed by
the new uses section of the Cotton
Textile Institute, Inc. Results Of the
study were made public today by Walker
D. Hines, president of the institute.
Four conclusions were included in the
report as follows:
More cotton dresses are being worn;
more cotton dresses were made and sold
during the Summer of 1923 than in
1927; retail sales of cotton pieces goods
this Summer were larger in volume than
in 1927; retail stores have been adver-
Using cotton goods more extensively.
Will Attend A. b. A. Convention.
Among the Washington f1nanciers
who are planning to attend the coming
American Bankers Association conven-
ton in Philadelphia are Controller j.
w. Mcintosh, Robert V. Fleming, presi-
dent Of the Riggs National Bank; Rob-
ert N Harper, president of the District
National r. G. Donaldson, president
of the Commercial National: Victor B..
Deyber president of the Second Ma
tional Harry v. Haynes. president Of
the Farmers & Mechanics National;
John B. Larner, president of the WASH
ington Loan & Trust Co.; Representa-
tive Louis T. McFadden of the House
banking and currency committee;
Howard Moran. vice president of the
American Security & Trust Co.; E. E.
Mountjoy, Washington representative
of the A. B. A.; Maurice Otterback.
president of the Anacostia Bank, and
Mrs. M. I. Tucker and party, with
Mary Jane Winfree, secretary of the
Continental Trust Co.
Woman Bankers to Meet.
The Association of Bank Women, a
national organization of woman bank
executives, will hold its sixth annual
convention at Philadelphia, Pa, on
September 30-October 4, simultaneously
with the American Bankers Asso-
citation
It is not, however, a division of that
organization, but holds It's convention
at the same time in order to give its
members, who may also be delegates
to the larger convention an oppor.
tunity to attend those sessions and tc
have the benefit of contacts and dis.
cussions of such gatherings.
National Bank Conditions.
A decline of los in the number O
national banks over a period of /:
months was revealed in the reports O
conditions made in response to tn
June 80 call issued by the Controllel
of the Currency. At the same tim
Aecord total resources we're reported
On June 80 there were 1881 nationa
banks with total resources of $28, SOB,
$4,000 which was 1926 100000 NOR
than was reported by 1916 nationa
banks on June 80, 1927.