Evening star., 1928-12-18
NO, OF as NBE
SOciatiOnS. Loans. TeSC
Years.
IN

The report also states that at the
end of the year, 1927, the Washington
/ building and loan associations had
total membership of 63,768, an increase
| in assets during that year of $6,462, ,392
| and an increase in membership during
| the same year of 4469.
Christmas Savings Clubs Growing.
Local banks still report large increases
f! in the number of enrollmentS in the
/ 1929 Christmas savings clubs. The
coming years clubs are sure to be
| larger than the ones recently. The
| Christmas club movement has become
so large that President Robert v. Flem-
ing of the District Bankers Association
| recently appointed special committee
to assist the advertising committee in
/ overseeing this development in the
| banking field
This committee is composed of VIII
mer j. Waller, vice president of the
Federal-American National, chairman;
Francis G. Addison, jr., vice president
Security Savings & Commercial; Eliot
H. Thomson, Washington Loan & Trust
c., who is also chairman of the ad-
vertising committee; L. P. McLachlen,
president McLachlen Banking Corpora
ton, and Edward j. McQuade, vice
president Liberty National Bank.
Fifth District Sales Increase.
The Federal Reserve Bank of Rich
mond reports trade as holding strong,
and adds that steady employment, es-
pecially in the building and textile
lines, is resulting in more money than
usual being in circulation in the fifth
district.
Preliminary reports from 43 depart
ment stores for November show that
aggregate sales during the month were
nine-tenths of l per cent larger than
total sales by the same stores in
November, 1927.
Several increases were relatively
large, while most of the decreases were
small. Among the individual cities
from which three or more reports were
received, Charleston, w. Va, led in per-
centage increase in sales with 48 per
cent. Baltimore ranked second with a
gain Of 2 per cent. A majority of those
reporting showed far lower figures last
month than for November, 1927.
Heard in Financial District.
The general committee on standard
lied banking forms, of which Frederick
H. Cox is chairman, will meet tomorrow
afternoon at $3.50 at bankers head
quarters.
The District Bankers Association
Monthly Bulletin is expected to appear
tomorrow.
has installed an immense Christmas
tree in the lobby and decorated it in
most fascinating manner.
The Riggs National Bank has ESQ in
stalled its usual Christmas tree &C the
rear end of the banking rooms over the
clock Colored lights give it distinc
ton of its own. All the other banks in
the city are now getting out their deco
rations, giving these solid financial in
stituticns delightful Yuletide ap-
pearance.
The directors of the McLachlen Bank
ing Corporation have declared the reg
ular Semi-annual dividend Of per cent
and an extra of / per cent both pay
able on December 81, according to an
nouncement by President Lanier P.
McLachlen.
Local Securities More Active.
There was more activity on the
Washington Stock Exchange today
when recent prices prevailed Ten
shares of Washington Gas sold at 10334,
Capital Traction opened at 106 and
closed at 1864 on 42-share turnover,
| and Potomac Electric Power 5l2 per
cent preferred changed hands at 103.
| Washington Railway & Electric
moved at 997s, 40 shares of Lanston
sold at 1872 and 100 shares of Mer-
| genthaler changed hands at 104 There
| was a turnover of 400 shares of Ma
tional Mortgage & Investment preferred
| at 55a.
Fifty-five shares of Chestnut Farms
| Dairy preferred came out at 1864.
Only one bank stock appeared on the
board today, that being the sale of a
single share of Bank of Bethesda stock
at 49,
Nearly half of today's trading was in
| bonds. Potomac Electric Consolidated
IS sold at 1O134, Washington Gas SIS
sold at 10334 and 103H, while Railway
& Electric General IS moved at 102.
Washington Gas IS, series A, regis
| tered 4051a and the series B bonds
changed hands at 1862.
/. A. Fleming Reaches Melbourne.
| Word has been received that T. A.
Fleming has reached Melbourne, Fla,
and is temporarily located at Hotel
Melbourne, after a three-week visit at
Miami @Pop" plans to remain at Mel
bourne for the Winter. He reports a
delightful stay at Miami, where the
season is now picking up very rapidly.
Up to now it has been unusually quiet,
mild weather in the North perhaps be-
ing the chief factor.
Sees No Alarm Over Money.
Clark, ChiIds e. Co. believes there
is no reason for alarm over the none
tary situation There is no actual
money shortage at this time and there
is none in prospect. December Is nor
mally a month of heavy credit demand
followed by very much smaller demand
in January. The business prospect
remains highly favorable.
SILVER QUOTATIONS.