Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-21
BANKING INSTITUTE
FACULTY TO MEET
Plans IS, Get Under Way for
Opening OF Capital Chap
tiers Year Program.


Tor opening the years educational pro.
gram of the Washington Chapter
American Institute of Banking, meet,
ing Of the faculty has been called fol-
next Thursday afternoon in the chapter
rooms, 1918 F. street.
The faculty will meet with the edu-
cation committee of the chapter, OF
which Aubrey o. Dooley of the Federal
American National Bank is chairman.
Problems related to the coming year
will be discussed, and the curriculum
will be gone over in a general way with
q view to arranging the program OF
classes.
Both the faculty and curriculum will
be larger this year than ever before, &C
cording to preliminary plans now well
under way.
A meeting of the year book committee
Of the chapter was held this afternoon
when it was predicted that the annual
issue of Dollars and Sense would be
ready for distribution about Septem-
Der /.
The entertainment committee, head
ed by Willard G. Barker, is making
plans for the social activities OF the
chapter, which probably will open with
a dance early in October, at one Of the
country clubs.
Life insurance, which was among the
last to feel the economic depression
showed a gradual falling off IN sales
during July, but the first seven months
of this year show that during that Pc
Rod the country paid for volume OF
insurance 2.3 per cent larger than in
the same months last year. Three sec
tons showed decrease in insurance
sold for the seven months, the Noun
tain, the East and West South Central
States. These figures, compiled by the
Life Insurance Sales Research Bureau
show. however. that the volume paid for
during the past month was % per cent
smaller than a year ago. The only
three sections showing an increase for
the month were the Middle Atlantic, the
Pacific and the South Atlantic States.
Other sections shared the decrease, and
reflected the depression in business
prevalent throughout the country.
Earnings for the first six months of
1880 reported by 80 chain store COM
panieS disclose a mixed trend, accord
ing to E. A. Pierce g. Co. Eleven
chains reported larger profits, twelve re-
ported decreases and one showed a
profit against loss last year. Four
companies suffered losses and two
others did not report comparative fig
ures. This group comprises grocery.
and 10 cent stores, shoe, apparel,
restaurant, drug and miscellaneous
chains.
First National Stores, Melville, Jewel
Tea, Grand Union, Grand Silver Ex-
change Buffet, Waldorf System, Childs
and Western Auto Supply were among
the companies that bettered earnings
of a year ago. Six of the chains that
reported smaller earnings compared
with ls29-namely, Penney, Dominion,
Kresge, Safeway, Interstate Department
and Shattuck-were still ahead of the
same period of 1923.
The American Stores, q grocery chain
with many stores in this vicinity,
showed falling off of net profit after
taxes in the six months from $3,0l7,36
in 1929 to S2,667 189 in 1890. S. 8.
Kresge Co. fell off from $7,0l3, 456 in
1929 to $6,645,38 in 1890 F. g. w.
Grand Silver Stores dropped from $685.
028 to $792,408. Childs increased from
S420,343 to $668,329.
There was very slight trading on the
Washington Stock Exchange today, Po-
tomac Electric construction SIS sold at
1921, Washington Gas IS at 10S to
102%, Potomac Electric 6s preferred at
ITO to HOE and Georgetown Gas IS at
1o3.
The production of electricity by the
electric light and power industry Of the
United States for the week ended Satur-
day, August 16, was 1871 1893 900 kilo-
watt-hours. according TO the Statistical
Research Department OF the National
Electric Light Association. This is about
5000, 900 kilowatt-hours less than the
output of the previous week. 1t is 2.0
per cent below the figure for the cor
responding week in 1929, but per cent
above the output for 1928.
In view Of the expected reduction of
gas rates here in Washington, interest
was expressed today in reports from
Seattle that new gas rates, effecting
reduction in monthly charges to prac-
tically all classes of customers, were
placed in effect by Seattle Gas Co.,
subsidiary of Central Public Service
Corporation.
The new rates, which will result in
lower bills on the basis of present con-
sumption to all customers using in ex-
cess of 5000 cubic feet of gas per
month, would result in reduction OF
$4,000 in the company's annual rev.
enueS on the basis of the present gas
output. However, it is anticipated that
the new rates will considerably slim
ulate additional use of gas by present
customers and make possible the use
of gas as fuel for a number of new
commercial and industrial processes.
Rates for house heating under the
new schedule will result in savings to
customers of S. to SIS month, depend
ing on the size of heating plant Large
industrial and commercial users receive
even greater reductions.
The rates vary from $3.50 per thou
sand cubic feet for use of less than
1000 feet monthly to less than so cents
per thousand feet for users of over
5000 cubic feet monthly.
Leonard Marbury, assistant trust Of
f1cer of the Washington Loan g. Trust
Co. is on vacation at Cape May, N. j.
Herbert w. Prin1m, assistant real estate
Office Of the same institution, has just
returned to his desk after two weeks
at wildwood Crest, ~ J.
john M. Riordon. executive vice
president Of the Bank of Commerce e.
Savings has received a cablegram from
Maurice d. Rosenberg, president Of the
bank, reporting his arrival at Buenos
Aires, on his South American trip. He
plans 10 go TO Montevideo, Rio de
Janeiro, Bahia, Bermuda, and arrive
in New York September Is
George L. Starkey president of the
National Bank of Washington, is plan
ming TO leave September on his vaca-
ton, during which he and Mrs. Starkey
will take an extensive motor tour
through New England.
Bertram Chesterman of the Morris
Plan hank has returned from a BUSH
ness trip TO New York.