Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-14
Half Years Earnings Compared.
Bank Arranges Shorter Hours.

WrsS Tor June are available.
Bank Arranges Shorter Hours.
John M Riordon. vice president OF
the Bank of Commerce & Savings, an
nounced today that the directors have
voted to adopt program of shorter
hours.
The new plan will go into effect on
July II, after which time the bank will
close daily at 3 O'Clock except on Sat-
urday, when the doors will be shut
at II. On the first and second and
fifteenth and sixteenth of each month
the bank will remain open until pm.
This bank is the third to come out
for shorter hours within a short time.
Recently the Washington Mechanics
Saving Bank adopted shorter work.
ing day schedule and only last week
the Union Trust Co. decided to close
earlier during the remainder of the
Summer It Is probable that the Bank
Of Commerce & Savings will make the
new schedule permanent throughout
the year.
Trading on D., c. Exchange.
Seven shares of Riggs National Bank
stock sold at 480 on the Washington
Stock Exchange today when trading
opened for the week. Federal-American
changed hands at 275, and National
Bank of Washington stock appeared ON
the board at $50.
One lone share of Capital Traction
sold at 59is. Federal-American Co.
common moved at 80, Carpet Corpora
ton sold at 22l4, Mergenthaler Limo
type at 96l2 and Potomac Electric
Power 5l2 per cent preferred at 107s4
and 1o8. Peoples Drug Stores registered
1o3. Bonds were in fair demand.
1t was announced on the Exchange
that the directors of the Washington
Gas Light Co. have declared the regu-
lar quarterly dividend of 90 cents per
share, payable August to stockholders
Of record on July Is.
Collections Holding Up Well.
Despite a seasonal slackening in
wholesale trade, collections are showing
little indication of the Summer soften
ing usual at this season. according to
the July survey conducted by the Ma
tional Association of Credit Men.
Only three cities, San Diego, Denver
and Knoxville, report brisk sales, while
seven cities reported brisk sales last
month. Sixty-two other cities reported
sales as fair" leaving SO in the SLOW
column.
Ottumwa, Iowa, was the only CITY
reporting good collections, but SIS other
cities characterized collections as
fair" There was an increase of Al
per cent for the month in the number
OF cities reporting collections as flair, -
against an increase of "a per cent in
! the number reporting them slow IN
employment was the chief reported
cause for slow collections.
A. g. p. Reports Gain in Sales.
An increase of 8.12 per cent in sales
for June, 1880, over the same period
last year was announced today by the
Great Atlantic g. Pacific Tea Co. Ac-
tual sales for the 1880 four weeks pc
ROD were $62,882, 433, as compared
with S76,653 ,l66 for 1929, or a dollar
sales increase of 81, 229 267.
June sales brought the total for the
first six months of this year up to
S545,059,794, as compared with total
Of s506,S37572 for the same period in
The average weekly sales for tbs
1880 period totaled $50, 72O, 608 as COM
pared with sl9.163,291 in 1929, an in
crease of s1,557,317.
Heard in Financial District.
w. Clarence Miller, collection tellel
at the National Bank of Washington
entertained the banks IL other teller!
over the week end at his Summer home
at Bay Ridge. The bankers were most
enthusiastic over the trip
June contracts for new building ant
engineering work in the 81 States cas-
of the Rocky Mountains amounted tt
$600,573, 400, according TO F. w. Dodgt
Corp. The past months record wa
substantially larger than the total o
$457,416,000 for the previous month
showed good gain over the total O
$529, 1871 100 for June. 1929, and wa
the largest monthly total since July
1929.
James A Soper, vice president ant
cashier of the Lincoln National Bank
has returned from a two weeks vaca
ton passed at Old Orchard, Me.
The Federal Reserve Board announce
that the Atlanta Reserve Bank ha
reduced its rediscount rate to 80 ne
cent from 4 per cent.
@. w. Pratt e. Co., announces tina
the Industrial Credit Corporation o
America has declared the reeula
quarterly dividend of 3212 cent per -shar
on the common stock payable Angus
As to stock of record July 81
NJ. j. Meehan, head of M j. Meehal
& Co., which has Washington Office
has returned to Wall Street after
visit abroad.