Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-25
CHRISTMAS SAVING
FOR 1880 TO START
Banks Win Open New Ac-
counts Here Next Satur-
day Morning.
BY EDWARD C. STONE.


be opened by about 80 Washington
banks next Saturday morning,
Checks for the payment for more
than S7,000,00o saved in this years
clubs will be forwarded to members next
Saturday afternoon and delivered IN the
mail on Monday morning, December 2.
The banks are to mail all these checks
in the main office, where they Will re-
ceive special attention by post office
oficials and clerks so that all will be
In the hands Of their owners before 8
am Monday.
The new clubs are usually opened on
the first day of December, but that Is
Sunday this year, so the earlier date
was decided upon. incidentally, Satur-
day will be a Government pay day, so
that q host Of depoSitors will be at the
banks anyway.
Funds RedepoSited.
In the past considerable money from
one years savings clubs has been put
back into the next years club or into
permanent savings. 1t is expected that
the same policy will be adopted again
this year. Statistics prove that large
amount of the Christmas club money
Is used in other ways than for holiday
8nODDlnR. III Is n LuIlG VA year "iACA
extra funds are needed for scores OF
different purposes.
Rent, clothing. insurance, food, auto
mobile installments get their quota, but
thrifty club members also see. to 1t that
part remains as permanent savings.
From S2,400 900, the amount saved in
The first years clubs conducted In this
city, to 81, 400, 900 is brilliant showing.
The membership this year totals 81,
d. ~ EC9 1909 and
A gain In the amount of money placed
IN the clubs Of $415,500. In 1925, the
farst wear in which the local banks con-
Quoted a combined advertising cam
painn, there were 66,279 members. IE
the IL months they saved $4,447,741.
The Christmas savings campaigns
have been conducted by the advertising
committee of the District Bankers AS
ISOLATION, the chairman being Eliot II.
Thomson of the Washington Loan g.
Trust Co.
Bond Issue Redemption Soon.
Holders of Chestnut Farms Dairy, Inc.
0h per cent bonds 1924, should bear in
mind that these bonds have been called
for payment on December /, at 10712
plus interest. AS December is Sunday
they will be paid next Monday, the first
business day after the redemption date.
There are $637500 of these bonds out
standing and the entire issue has been
called.
The bonds are listed on the Washing
ton Stock Exchange. The high for the
present year is lot, the low 106 and the
last sale was made at 1862. AS all in
holders should act promptly in turning
them in. It is always the case in con-
nection with the redeeming of bond
issue that many holders put of asking
for payment, and months later are
greatly surprised to find that they have
lost considerable interest.
Local Trade Holds Up Well.
Incomplete reports from the Federal
Reserve Bank of Richmond indicate
that whole trade in the fifth district in
October will equal that Of October a
year ago With several firms to be
heard from, at least two lines will have
increases to Offset possible losses. Two
lines expect to break even and another
expects to show slight decline. :.
Unreasonable weather has delayed
the movement of many retail lines.
but holiday stocks are beginning to
move satisfactorily. Christmas saw
tngs funds, which show an increase
through the district, will be available
next week.
Debts to individual accounts for the
week ended November lS show sharp
decline over the preceding week, but are
] per cent above the corresponding
week of last year.
Starting of work on two big passen-
ger liners at Newport News, and the
awarding Of contract for $500 600
addition to the American Tobacco Co.'S
Richmond plant, which means added
employment for 1000 by April /, are the
most encouraging industrial events OF
the past few days.
Retail Trade Reviewed.
Out Of 700 replies to a survey Of the
retail field throughout the country made
by the Financial World, 428 accredited
retailers report their business unaffected
by the market break, against 272 who
stated their business had been adversely
affected. Jewelry, furniture and mans
furnishings showed up worst. while gro
ceries, hardware and general merchan-
disc showed up best. Geographically,
the further west the replies came from.
the less effect of market conditions on
retail trade.
Local Bonds Popular Today.
Bonds drew their full share of atten-
ton on the Washington Stock Exchange
today. The opening was $4,000 turn
over in Washington Gas 6s series A, at
100A. Washington Railway g. Electric
As sold to the extent of $4,000 at 80.
Capital Traction SIS figured in a $500
sale at 9034, followed by small sale
in Gas IS, series A, at par, and $500
more at 1909. The final bond sale was
in Washington Gas SIS at 80.
The first stock transfer was in Poto-
mac Electric Power 5l2 per cent pre-
ferred, at 104K. Mergenthaler opened
at 1882 and closed at 103%, on small
sales Merchants Transfer g. Storage
IL. sc Taf,
mac Power 6 per cent preferred changed
hands at 100 and 200 shares of Ma
tional Mortgage g. Investment preferred
at 37s.
The last stock sale was IS shares of
Capital Traction, which moved at IS.
The board of governors met after the
trading session and voted to close the
exchange on Thursday, FRIDAY, and Sat-
urday, In conformity with the action
taken by the New York Stock Exchange
Financial District Notes.
The Bond Club meets with the Ad-
vertising Club tomorrow noon at the
National Press Club, when Merle
Thorpe, editor of the National Business
will be the guest speaker. The two
clubs expect large turnout.
Much favorable comment was hearC
in the financial district today over thu
appointment Of George o. VaSS as gen
eral chairman of the committee to ar
range for the next convention of thu
District Bankers Association.
Local brokers consider the let-up ii
trading on the New. York Stock Elk
change as an encouraging sign. Furthe
selling by people in an embarrassing
position is looked for, but the yields OF
good stocks are bound to be felt before
very long, brokers declare.
Aircraft Firm Expands.
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