Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-08-04

TempOfertty uoc1t1sc ~. OSe.1'.s~a 49, =.
some wage reductions also were re-
ported.
Gains In Retail Trade.
Constraction work provided for IN
pernits issued during June and con-
tracts awarded were less than In june
of last year. Retail trade as refacted
in Department store sales was 81 per
cent above June trade OF 1880, Dut
there were losses In four or I'VE job
bing lines. shoe iobbers showing the
only increase
Agricultural developments were viewed
ma favorable and are far better than IN
1890. when the drought did deadly
Work. Farmers, It was said, have pro-
duced money crops. which will bring
small prices. but they also have pro-
duced feed crops, which VIII enapie
them to Set through next Winter, 10
most cases Wtnout aove1nmens "
private aid 10 any extent: -
"The accumulation of funds In time
and SAVINGS accounts IN some banks
Of the NTH Federal Reserve district Is
becoming more or less Of o burden"
the Review Says.
A brighsenink phase Of the business
conditions IN the district was the small
er number 81 commercial failures Dun
ing June IL q these were re- repoI No.
liabilities In this year. however, were
slightly larger than In 1890.
During the first six months Of 1891
there were o4D failures IN the NTH dis
trict. coniuared with S44 in the f1rst
six months 81 1880. However, the lia-
biiities of the 1881 failures tOtaled only
$l9,9s6.2 e3, while those for last years
first six months totaled 22.16S.0l4
.n..si9t,,,sS - ~, ~ kl,n sakakatu ~
the increasln6 number 81 unemployed.
Those who i6st their jbbs last year In
many cases had surplus 10 carry them
through, hu4 these sllrpluses have been
exhausted. and the added uu<1ber OF
unemployed Is increasing the problem,
the report says This means more
charity work. and the calls upon chart
increasing "a number, the report adds.
Potomac Insurance Oficials.
At the annual meeting Of the stock
holders Of the Potomac Insurance Co.
OF the District of Columbia, held yes
elected for the ensuing year:
j. w. fawIer lee Brown. Henry
Hood, chs iss b. Howl ID Il. P. john
son, Thomas q Moore IL Norie- Miller,
s. Norie- Aiiler. q. r. n Ogiihy, Alex
ander X. Phillips, Frederick Richard
son, George w. White.
George w. white president Of the
National Metropolitan Bank, Is presi-
dent Of the company, having held this
position for several years, Alexander X
Phillips Is secretary: j. w. Lawler and
w. G. Dent. assistant secretaries.
The company celebrated Its Tooth
anniversary last March, In August
1881. the concern had patd-in capital
stock Of Sl5,l00 and surplus Of "a
260.6i. At present the company has
100000 capital and surplus TO policy
holders Amounting to 81. e55. ASIA and
operates b AZ States and the District
OF Columbia
American stores CO. reports for six
months ended june 30, 1881. net income
Of $2,72e. 80 after depreciation, Federal
taxes, etc, equivalent to s1.87 a share
on 1,454, 14x n0-par shares Of stock.
This compares with 92.667, 1s9 or SITS
. share on 1.ba6.7i7 slares in first half
Of 1890.
sales for The six months amounted to
t6o. 400 sol, comparing with s7i.53s.-
4o6 in first hall Of 1890, q decrease Of
$2.04e. la5 or 2i6 per cent. Tonnage
sales, however, increased 10 per cent
American Stores Co. operates approxi-
mately ALSO food stores, mostly IN
Pennsylvania, New Jersey and WASH
tngton In addition to which 1t owns and
operates nine bakeries and nine ware
houses. The company recently opened
~ stores In Syracuse, N. r., and sur
rounding territory.
Telephone Bonds Popular.
Trading in Chesapeake a. Potomac
Telephone Of Virginia IS overshadowed
eli other transactions IN an interesting
session Of the Warrington Stock Elk
change today.
There were 10 separate 81 900 sales,
all made ct the price Of Si05A. A
local investment banking house recently
issued circular on these bonds. which
are listed on the local exchange, Bal
tim0re and Richmond Exchanges.
Capital Traction S. sold at S3 today,
washington Gas 0s, series A. came out
at 1903. and Georgetown Gas SIS. moved
at 10434 washington Railway & Eiec-
trio Is. appeared on the board In .
$1,000 transfer ct 9294.
Capital Traction stock sold on little,
opening at 40i4. which Ia under the
price last week After several small
lot sales, there was sale OF 100 shares
at the same Is the opening price.
Sales totaled 100 shares.
Riggs National Bank stock sold TO
the extent Of Ia shares today at 3T2
and 10 shares of Union Trust Co. stock
came out at 2o0is
Potomac Electric Power 5Iz per cent
preferred moved ut llli4 and Mergen-
thaler Linotype figured IN small sales
ct f7a4.
Cleaned In Financial District
james II. Baden, vice president Of the
Commercial National Bark. has return
ed from his vacation and walter J. Har-
art q aafr
away on hts annual leave.
NJ r. Ehowalter, assistant cashier Of
the Commercial National Bank. 10 TAX
ting q trip 10 Europe. He sailed Satur-
day on the Legiathan for . fire-weeh
tour.
!. .. Roberts, assistant cashier OF the
Riggs National Bank. returned recently
from hts vacation. B. O. Dent. another
assistant cashier, is among the ofteiak
now away.
The washington Rapid Transit 90
has fled its June report with the Publ.
utilities Commission showing Q mel
income cf ei,O83.42. against deficil
Of e2,6D044 a year ago. FOR the hrs
half year there was deficit Of 81, asa. %
compared with . deiicft Of es.7zs.07
year MGO.
The Federal Reserve Boards condi.
Ion statement Of weekly reporting mem.
Der banks IN leading cities on July a
shows little change In total loans and
investments for the week, O decrease
Of sal .000, 900 Ii loans being offset b
an increase Of s5a, 900 600 In invest.
nleuts. Time deposits increased 92s,,
100000 during the week. net demand
deposits declined By small amount
and Government deposits declined So,
no0, 900. BORROWINGS from Federal Re
oexye banks decreased 5000 600.
washington bank ciearinez Tor 70