Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-09

ments.
2. Shelter, $45. Rent, mortgage pay
mcntS, interest on investments. taxes,
fire insurance, repairs and improve
ments.
8. Operating, $23. Heat, light, water,
help. laundry, phone, supplies and car
fare.
4. Food, $45. Groceries. meat. fruit,
butter, eggs, milk, ice, board and extra
meals cut
5. Clothing, $24 Mems, womens and
children's wear, materials and making.
repairs and cleaning.
6. Miscellaneous or welfare, $24
Health, education. pleasure, doctor,
school, music. church, radio. auto, etc. !!
| . Sees Bright Automobile Future. !
I'VE have only seen the beginning
| Of the development of motor car use
and motor transportation in most
countries" said H. o. Smith, former
chief of the automobile division of the
Department of Commerce. !
| "As the motor car is more generally
| recognized as the embodiment Of a
certain amount of potential transporta-
| ton, 1t becomes more definitely re-
moved from the luxury class and spe-
cial taxes and charges which affect the
selling price. J
United States automobile exports IN
| 1923 exceeded 1927 by Silt 1898, 1863 fol-
lowing the increase In 1927 of $67,-
241, 448 over 1926. /
"As recently as 1913 there were only
1925 600 motor vehicles in the United
| States. We did not reach 100000
| until 1919, and there are today APP
proximately $500, 900 motor vehicles In
| use outside of the United States.
'It viii only be few years until
motor vehicles In other countries viii
exceed the number now In the United
| States, when annual world require
ments to replace the cars which wear
out or drop out will call for as many
cars as are now being produced in the
United States"
Four Seeking Exchange Seats.
There are four applications for seats
On the washington Stock Exchange, ac-
cording to announcement by G. j.
Gockeler, the secretary. At present no
seats are for sale, although the member
ship Of the late John w. Brawner will
soon be placed on sale by the estate.
Business on the exchange has ex-
panded steadily, until the demand for
seats has become much more insistent.
The highest price paid for seat last
year was $3.50. The next sale is likely
account of the competitive bidding.
The lowest price ever paid for a seat
on the local exchange was SIS and the
highest $4,000, according. to the facts
assembled by Albion K. Paris. The
$4,000 purchase was made in 1916.
Anacostia Banker Honored.
One Of the interesting financial news
items Of the week was the announce
ment that Maurice Otterback. president
of the Anacostia Bank, had been elected
|svice president of the Eastern Building
& Loan Association. This organization
| is 40 years old and has enjoyed marked
prosperity during that long period. Mr..
Otterback has been at the head OF the
Anacostia Bank for many years and Is
one Of the best known bankers In that
section OF the city. He is much in
| terested in the District Bankers Asso-
cintion and never misses q convention.
Local Exchange Closed Today.
It rarely happens that the Washing
ton Stock Exchange remains open when
the New York Exchange is closed. That
| is why the local exchange was closed
today. although the brokerage houses
| were open.
New York dispatches now state that
the decision to close the Stock Ex-
change was arrived at about week
ago and had nothing to do in any
way with the Federal Reserve Boards
| settlement, as suggested In some
quarters.
A number of the important wire
houses several weeks ago petitioned the
Stock Exchange to close every Saturday
| for a while. This matter was referred
| to the law committee, which reported
| to the conference committee that such
q step would be inAtivisable, but SIg-
| gested that 1t would be good thing to
| close the exchange on Saturdays occa-
sionally on account of the "fu" epiden1-
/ ic and the pressure of work on clerical
forces. It IS possible the exchange may
close February %.
Morris Plan Entertains Visitors.
Walter II. johnson, jr.. president Of
the Buffalo Morris Plan Bank, also vice
president of the Marine Trust Co. Of
Buffalo, and Victor Holden, vice presi-
| dent of the Buffalo Morris Plan Bank,
recently visited the Morris Plan Bank OF
Washington to make survey Of the
operations Of the latter bank.
r. G. Plummer, cashier of the Balti-
more Morris Plan Bank. spent a day in
Washington this week making q survey
Of the bank.
These visits indicate that the local
bank is beginning TO be accepted by the
otflmr Morris Plan banks in the country
as a model for operating standards.
Thinks Sale Volume Overdone.
Department stores in the race for
sales volume increases have brought
the business to q state of "profitless
prosperity" DR.. Paul H. Nystrom, pro-
lessor of marketing Of the School OF
Business Of Columbia University, told
delegates to the National Retail Dry
Goods Association convention in New
York.
DR.. Nystrom said that the period of
sales volume increases during the World
War had been followed by slow fat
tening of the curve of increase and
that for the past five years department
stores had not been making the same
gains nor had they kept pace with the
chain stores.
Checks Indicate Business Gains.
The volume OF business during the
week ended February 2, as indicated
by check payments was greater than
in the corresponding week OF 1928, &C
cording to Department Of Commerce
Operations in steel plants were on a
higher level than in either the previous
week or the same week OF the preced-
ing year.
Output Of bituminous coal during the
lest reported week showed q gair
over both the previous week and the
same week in 1928. Lumber produc.
ton, however, showed declines from
both periods. The general index Of
wholesale prices show fractional de.
cline from the preceding week, but
was higher than year ago.
u. g. TREASURY RECEIPTS.