Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04

ing, IL Is expected
that only officials
or directors Of
member banks will Waldo Newcomer.
attend.
The program will include reports
from officers of the association, reports
by officers of the Federal Reserve Bank,
and a discussion of Federal reserve
banking problems.
Representatives from Virginia. North
and South Carolina. West Virginia,
Maryland and the District OF Columbia
will attend the conference here.
Many Washington bankers attend
this meeting every year and get a great
deal of pleasure and information from
the sessions. The address of Gov. Seay
Is always of particular interest and
value.
Facts About Am. Tel. & Tel Co.
Through land and radio extensions
any subscriber Of the American Tele-
phone & Telegraph Co. can reach So
per cent Of the worlds telephones, says
a summary of facts about the company
presented by Y. E. Booker & Co.
There Is at present one telephone for
every six persons in the United States,
compared with one automobile for
every fourth person.
A large part of the company's ex-
common stock, valuable subscription
rights have been offered every two years
for the past 20 years.
The company and its predecessor
have paid dividends without Interrupt
ton for 46 years, never less than $3.50
q share.
A study Of the company's 1929 report
indicates known earnings and equities
Of at least SIS per share.
Finds Interesting Records.
Charles E. Howe, treasurer of the
American Security & Trust Co., has
Just found three clippings books filled
with columns and columns OF news
matter that was published in connection
ton campaign" that was staged Is years
ago. The records came to light In con-
nection with the banks present build
ing project.
Sixteen years ago a shippers aSso-
citation was established with the idea
Of getting much more business for the
city. The plan was extensively adver-
late Charles j. Bell was chairman Of
the booster committee, and Mr.. Howe
assembled much Of the material for
the newspapers. special train was
run down through Virginia laden with
enthusiastic Washingtonians and any
QudHGlIy
Capital and its commercial oppor-
Later the Washington Shippers AS
ISOLATION became extinct. It was de-
cided that it conflicted with the Board
of Trade and Chamber of Commerce
and that, too, organizations Of the kind
were detrimental. But the clippings
prove that the association accomplished
much in its day in the way Of building
washington I'D commercially,
Insurance Club Officers.
At a meeting last evening Of the
Life Insurance Club of Washington
the following named were elected the
officers for the coming years:
Dan j, Harrison. president; Philip
L. Baldwin, vice president, and J. e.
McConnbs, secEetary-treasurer.
All three men are widely known in
local insurance circles. The club Is
becoming more and more active and IS
growing steadily every year.
Reeves Death Shocks Bankers.
Local bankers were shocked today to
learn of the death in New York Of
owen T. Reeves, for many years one Of
the local bank examiners and a great
favorite among all Washington bank
officials.
At the time of his death he was chief
national bank examiner in the second
district. After being in Washington
several years Mr.. Reeves was trans
ferred to Chicago and went from there
to New York.
Mr.. Reeves had been i'll about three
weeks. The Washington Office had kept
In touch with him through the Second
Federal Reserve District and daily re-
ports from his home indicated that he
was improving. He was so years old and
had held his present position six years.
Trading Lively ON Exchange.
There we're 10-share lot transactions
in Lanston Monotype on the Washing
ton Stock Exchange today, all made at
116. Mergenthaler figured in a 25-
share turnover at 10734, while ~ more
shares changed bands at 107h.
Capital Traction opened at 80N and
closed at 80, sales reaching SIS shares.
Merchants Transfer g. Storage common
came out at ITO, so shares of Carpet
Corporation at 1854, and IL shares Of
Continental Trust Co. at lat,
Washington Gas, Railway & Electric,
Potomac Electric Power Consolidated IS
and AnacoStia d Potomac Railroad IS
were in excellent demand at recent
levels.
Retail Sales Here Compared.
Department store sales in Washing
ton in February were II per cent larger
than in the same month a year ago.
Baltimore showed an improvement Of
over per cent, and it was this showing
that made the record for the fifth dis
trict as a whole 80 per cent ahead of
last year. The other cities In the fifth
district were OF per cent from Feb
ruary, 1929.
In total sales this year-January
through February 28-the same results
were attained, Baltimore and Washing
ton stores exceeding their 1929 sales for
the corresponding two months and the
other cities stores reporting recession
this year. A larger number of stores
reported gains in February than the
number that gained in January In COM
parison with sales In the corresponding
months Of 1929.
Stocks increased seasonally during
February with the receipt OF early
Spring merchandise, but on February 28
stocks averaged approximately 3 per
cent less than at the end Of February
q year ago. The rate OF turnover OF
stock was higher in February and also
during the first two months combined
than during the corresponding periods
last year. The average rate OF turn
over from January to February 20 was
.476 times this year and .453 times in
1929.
The percentage of collections In Feb
ruary, 1880, to total accounts receivable
on February was lower by eight
tenths of / per cent than the percent
age for February, 1929. The other
cities showed higher percentage for
the 1890 month, chiefly due to the in
clusiop Of Richmond In the group, but
Nth na1fiV41npa and WnehfnOtNn p
ported decreased percentages.