Evening star., 1928-04-07
BY EDWARD c. STONE.

| Among the six largest cities or the
district, WASHINGTON, Richmond, VIM
Ston Salem and Charlotte reported
| higher figures for February this year,
while Baltimore reported lower totals
and Norfolk reported exactly the same
| amount. In alteration and repair work
/ 1878 permits issued in February, 1928.
{ compare with Loaf permits issued in
/ February last year.
/ Valuation figures for alteration and
/ repair work III February this year were
! lower than those of February year
ago. last moaths total of 81, ,432.6
/ comparing with 81 4o66 654 reported for
I the corresponding month in 1927. Com
bined valuation figures for all classes
| Of work totaled Sill .951 1874 in February.
| 1923. and Sl0,9S6.S60 in February, 1927.
an increase In value this year of $685.
! 334, or ss per cent but an increase in
number OF only l per cent.
Contracts actually awarded during
February for construction work in the
fifth district totaled So. sol .23s, Of
which sl0,5S5.403 was for residential
work. according to statistics collected
| by the F. w. Dodge Corporation. while
| in February. 1927, contracts totaling
| s24 .943,643 were awarded. The figures
| include suburban and rural conStruc-
ton. in addition to the city work COW
cred by building permit figures"
Urges Unity in Advertising.
That banks everywhere ought to use
the cooperative idea in advertising fer
| the development of thrift was strongly
| advocated by Eliot II. Thomson OF the
| Washington Loan g. Trust Co. yeSter-
dav at Richmond. The speaker defined
| thrift as happiness. contentment. saving,
good credit or the means TO an end
rather than the end itself. 1t is won-
derfully brought out in the develop
ment of the Christmas savings club
| idea. which has developed from q small
| beginning in a single Pennsylvania bank
| 10 1000 banks with over $500 000, 900
deposits In 1925. furnishing remark
/ able example of training the public
| toward a definite object
| "A hard fact confronting us" said
/ Mr.. Thomson. lis the excessive mortal
| ity In savings accounts. May 1t not
| be that this is due more than anything
| else to the lack of any definite objective
and the effort 10 do more than the
I income OF the depositors warrants2 Our
| success in developing savings seems
great. but Roger Babson has shown that
the mere addition of compound interest
TO the accounts of 20 years ago would
have given us a greater grand total
than is now on deposit throughout the
country.
aOne more fact before we can take
I'D the solution The war brought a
big blessing to the country through the
Liberty bond drives II taught the
general public TO become investors. But
| that lesson has depleted our savings
deposits Life insurance has vitality
/ increased in popularity and this is an
other channel for diverting savings.
| Then comes installment buying and
| finally the competition Of the building
and loan associations.
| What shall We do about 1t? What
/ did the raisin growers Of California do?
/ What did the hlmbermen do? What
/ did the giycerine producers do? What
are the cotton raisers Of the South
| 6osng7 They got together and CO.
/ operated in the development OF a
market for their products What did
| the banks in New Orleans. ST. Louis,
| Cleveland. Washington and other lead
ing cities do? They got together and
| co-operated. What ought the banks all
over the land do? say-get together
and Cooperate"
The Washington banker then referred
/ 70 the educational campaign conducted
| by the bankers In the Capital 20 do
I
campaign brought marked savings TO
the banks and the education of the
| public toward keeping larger balances.
In conclusion Mr.. Thomson said:
| In cooperation there is power,
economy and progress. In cooperative
advertising. as in cooperative market
ing, results are achieved that are un-
attainable individually. Teamwork is
necessary In bank. Teamwork among
the banks Is just as necessary"
Building Materials Cheaper.
II is reported in the building industry
that the price Of gravel has been re-
| duced by some Of the leading companies
In t1e city from $3.50 per ton 10 81
| per ton. The price OF sand has also
been reduced from Us cents per ton to
/ 55 cents per ton. AS gravel Is one OF
the basic materials used In building
construction the lowering OF the price
| Is considered Of much local importance
In The opinion OF builders IL viii make
/ quite dent IN the cost Of construction
in the District; especially In the erec-
tion Of apartment houses and ONCE
! buildings.
Bankers Arrange Tax Conference.
/ Unsatisfactory conditions In State tax
laws affecting banks and the attempt
| Of State iaZ authorities To procure an
| amendment ~ the Federal law govern
I ing the rtght Of the States 10 Tax
/ national banks. has led the American
! Bankers Association Officials IN arrange
i Tor a special taxation conference as a
| feature Of the annual Spring council
meeting OF the organization TO be held
/ IN Augusta, Ga, April Is ~ 10, it IL
announced by iG general counsel
/ Thomas u Patton. The tax conference
VIII be- held the morning Of April 10
Heard In Financial District.
Local stockholders in the Norfolk a.
Western Railway have received notice
| that the annual meeting viii be held
April IL At Roanoke, Va. only routine
matters are scheduled for consideration
The Department ot Commerce IL
tplannng 10 make Il Nationwide survey
of credit methods used in retail busi-
Isss Costs 0f various plans are ~ be
brought out and special attssnti0n given
" installment buying The National
isEtaD AAsoelati0n Is TO aid IN the work
Tie local 0fflcf of X. H. Rollins n
sons - participating Ia the offering 0i
sz,z5e,eDD FIRST Lief b VI per cent b0ads
81 tAe Mortgage Security Corporation oi
America. maturing March L. 1881 and
1873, W yiEl0 bbO per cent, and March
I. 1913, 70 yield s5G per cent,
Thirty per cent ot the national banks
0f the United States now have obtained
/ permits 10 act In fidmciary capacities
administering trust funds agRregatine
si 300 DOC 900, exclusive OF corporate
trusts.