Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-30
CHR!!'s;T!7'''S SAVING
FOR 1880 STARTED
New Clubs Formed by Wash
ington Banks as 1929
Checks Are Mailed.
BY EDWARD C. STONE.

into action for the 1880 campaign this
morning. They opened a day early this
year, as December ! comes on Sunday.
The clubs have recorded steady gains
every year since they were established
in this city, and the coming year Is ex-
pected to make another new mark
There were $1,000 members in the
clubs this year. 1t is believed certain
that the number will 60 we'll above
10000 in 1880. The members of this
years clubs saved well over $1,000 900
during the II months. There has been
a steady increase in the total amount
saved each year since 1924, so 1t is
only fair to expect that 1880 will get
pretty close to the 100000 mark.
The Washington banks mailed this
years Christmas Savings Clubs checks
today at the main post Office. They are
being accorded special attention, and all
will be delivered to members on the first
delivery Monday. The money was paid
little earlier this year than usual in
order that those using the funds for
Christmas shopping might have the
best possible selection of goods.
The local banks conducting the 1880
savings clubs include the American
Security & Trust AnacoStia Bank Bank
of Brightwood, Bank of Commerce &
Columbia National. Commercial Ma
tional, Departmental Bank. District Ma
tional. East Washington Savings, Fed
eral-American National Franklin Ma
tional, international Exchange, Lincoln
National McLachlen Banking Corp,
Merchants Bank & Trust, Mount YER
non Savings, Munsey Trust, National
& Trust, North Capitol Savings. North
east Savings, Park Savings, Potomac
Savings, Riggs National. Second Ma
tional, Security Savings & Commercial,
I'm on Trust, Washington Loan & Trust,
We shington Mechanics Savings and
Washington Savings.
Mr.. Fleming Notes 10th Birthday.
l. A. Fleming, who has been finan-
cial newspaper writer and editor for
considerably more than half a CEN
fury, celebrated his Seventy-ninth BIRTH
day in a quiet manner at his residence,
2T00 Connecticut avenue northwest,
yesterday.
Pop" as he is known to everybody
In the local financial district, was
showered with kilograms, flowers, let
tiers and postal cards filled with hearty
congratulations. Among the flowers
was very large piece from the lunch
con group of the District Bankers AS
ISOLATION. Others were from personal
friends.
Many Of his associates called during
the day to extend best wishes. Mr.
Fleming issued no special invitation in
order to prevent the day from being
too strenuous for him. For many years
Mr.. Fleming always gave q reception
on his birthday and it is understood
he will resume this custom on his
eightieth birthday.
In short time the veteran financial
writer Will wend his way southwark
and pass the Winter at Melbourne, Fla.
Substantial Trade Gains.
Business activity during the week
ended November 80, as indicated by
check payments, showed a substantial
advance, both from the previous week
and the corresponding week of last year.
according to the weekly statement Of
the Department of Commerce. Steel
plant activity during the latest reported
week, on the other hand, declined fur
Their and was considerably less than for
a year ago. Petroleum production again
declined, but was larger than for the
corresponding week of 1928.
Wholesale prices continued to decline
and were substantially lower than for
the corresponding week of 1923. Prices
of iron and steel and Of wheat showed
similar tendency. Cotton prices, on
the other hand, we're slightly above
last weeks level, although lower than
year ago. Bank loans and discounts
continued to decline, but were greater
than year ago.
Interest rates on both time and cali
money were substantially lower than
, for either prior period. Bond prices
steadled after recent declines, remain
ing unchanged from the previous week,
although they we're nearly per cent
below last years level. Business fail
ures were more numerous than during
thu IL
as year ago.
Reserve Banks Condition.
The consolidated statement of condi-
ton of the Federal Reserve banks on
November ~, made public by the Fed
eral Reserve Board, shows an increase
for the week of $4,000, 900 in holdings
OF discounted bills and decreases of
S26,500,000 in holdings of bills bought
in open market and $400, 900 in United
States securities.
Member bank reserve deposits de-.
clined $142, 500 900 and cash reserves
S6l 900, 900, while Government deposits
increased $16,900, 900 and Federal Re-
serve note circulation S5,200,000. Total
bills and securities were $15,S00,000 be-
low the amount reported week ago.
Principal changes in Federal Reserve
note circulation for the week include
decreases of $21, 700,0 900 at the Federal
Reserve Bank of New York and So
100000 at Atlanta, and increases Of $14,-
100000 at Philadelphia, $8,700OO0 at
Cleveland, $4.4o0.o00 at Chicago and
$3,S0o,000 at Boston.
Bank CIearings Decline.
Bank clearings in the United States
Tor the week ending November %, a
holiday week. as reported to Bradstreet's
Journal, aggregated SO, i ,099 900, as
against SIS, 786, 399 900 last week, a full
week, and $11, SIP ,2O7 900 in this week
last year, also holiday week. There
Is here shown decrease of 30.S per
cent from last week and Of 6 per cent
from the ike week a year ago.
Loans on stocks and bonds to brokers
and dealers by reporting Federal Re-
serve member banks in New York City
decreased $13T, 00o, 900 during the week
ended November 81 to $345O 900 600.
This compares with $685., O00,O on
November 20, with 5000 .O00, 900, the
high record, on october 2, and with
1920. 600. 600 on November 20, 1928.
Low figure, since publication began in
1925, was $2,403, 0o0, 900, established May
19, 1926.
Inventories Slightly Lower.
Stocks Of manufactured goods in
hands Of manufacturers at the end of
OSOoocI MeLc unCLldLBeQ 1EOm year
ago and slightly lower than in previous
months, according to Federal Reserve
Boards weighted index. Raw materials
stocks gained over both periods.
UNIFIED orders of manufactured goods
declined from September, but were UP
over last year. Declines in textile and
lumber orders more than Offset monthly
gains in iron and steel and transporta-
ton equipment, but the reverse was
true In the yearly comparison.