Evening star., 1931-12-11

years old and has @M&
already made an
excellent record in FY
serving the instt-
tuition. Fr.rL K,rfr,,,, l.
Barn in New
YoIN City on March 90 1890, he was
educated in the public schools and
graduated from Cathedral College. He
entered business at once and was aSso-
Clated for 10 years with Huvler Candy
Corporation in New York, leaving his
position as cashier Of the company to
come to Washington, in 1917, to take
charge Of the bookkeeping department
OF the surgeon generals Office in the
War Department, which position he
held until 1919, when he became asso-
ctated with the District National Bank.
In this way he met Joseph Schiavone,
who was a valued customer of the Dis
trict National, and in 1921. when Mr.
Schiavone founded the international
Exchange Bank, and was elected its
hrst president, Mr.. Kaufman left the
District National to become cashier of
the new financing institution
In 1928, when the controlling inter
est Of the International Exchange Bank
was purchased by Fernando Cuniberti
who was elected vice president and
cashier, in which post he has served
until his present promotion.
A. & p. Sales Slightly Lower.
Sales Of the Great Atlantic & Pacific
Tea Co. for the four-week period end
ing November 28 were S74, ,702 ,978. This
compares with s7s,s24, ,o93 for the same
period in 1880, and is a decrease of
$5,l2l,1l5, or 6.42 per cent.
More goods were sold during the No
Vember period in 1891 than in the same
period a year ago, as shown in the
estimated tonnage figures. November
sales, expressed IN tons, were 4l8,762
this year, compared with 40O,203 in
November, 1880, This is a gain in
quantity Of merchandise sold of 1859
tons, or 4.6 per cent.
Average weekly sales in November
were Sl8,675,745, compared with Sle,-
956,o23 in 1880, decrease of 81, ,28O.2 .278.
Average weekly tonnage sales were
104, 1871, compared with l00.O5l in No.
Vember, 1880, an increase of 4,640.
. Fifth District Bank Deposits.
Aggregate deposits in IL mutual saw
1ngs banks in Baltimore amounted to
S2l3,7l0,08l ct the close of business
october 81, 1881, a higher figure than
either 2l2,323.8l6 on September 30,
1881, or Sl98, 704, ,80l on October 81
-"SN. "a S%iN NA4AEl lldI4Gg lIllE utEOS1LA
in so regularly reporting member banks
in the fitth FEDERAL district totalcd
only s236,2o4,Oo0 on November IL. 1881
lower figure than either $243. .727 900
IN time deposits opgg October IA 1891
or S256,625 900 on November u. 1880
considerable part of aggregate time
deposits in reporting member banks
does not represent genuine savings ac-
counts, and these deposits are therefore
more likely to fiuctuate as conditions
IN the money markets and business
world change.
Concludes Economic Articles.
The final article of a series of three
written by Norman E. Towson. assistant
treasurer Of the Washington Loan e.
Trust Co, has just been published by
the company. TheS2 articles. which
have received wide spread attention
osal with what Mr Towscn calls "scm
Cf the phenomena of the present situs-
ton which lie outside tha realm OF The
cycle theory, but have served to sggra-
vate depression and which must be
adequately solved before any real prog
ress can be made back TO prosperity or
even normal conditions"
Among the topics discussed were
reparations, unemployment, government
- NASAAAS~st bnAAhCAS dS 1CdllSLhs ECO-
nomic understanding and the appeal
Of business.
Makes National Sales Record
The Washington agency of the
Mutual Life Insurance Co. Of New. York
ranked No. ! for the month of Novem-
Der among all the agencies Of the COM
pany throughout the United States and
Canada and ranked No for the past
IL months.
David F. Houston, late Secretary OF
the Treasury is president Of the Mutual
Life Insurance Co. Of New York.
The local manager Of the company
IS Thomas P, Morgan, jr, grandson OF
Thomas P. Morgan, former District
Commissioner.
Trading on ID. c. Exchange.
Today's Washington Stock Exchange
session opened with small sales In
Washington Gas 6s, series A, at par
The series B gas bonds later sold at
1Ol, while the largest bond sale of the
day was $4,000 Capital Traction SIS
which changed hands at 81.
The stock division opened with Il
shares Of Potomac Electric Power 5 y
per cent preferred moving at 1867
This transaction was followed by seven
10-Share sales and fiVe-share sale
Z
ferrcd at 81.
The closing transactions were in
Lanston MonOtypc, which opened at G7
and closed at 66l2 on a turnover OF
four l0-share lots.
Stock Break Draws Attention.
According to a dispatch received b.
the Washington office, Edward F. Swift
president of Swift International, in an
swer TO an inquiry as to the possible
causes for the decline in the market
price Of Swift International stock, to-
day said;
There is no reason in the affairs OF
the company that would account 70:
Ich action. The company has had a
Very successful year ani is in the
-cnrest fa2nciel position 1t has ever
cl'ov-d Emrle reser.e h5S been made
10. rc s-b.e c. hange Losses, CIr.cn.
-cnr ccrt!nEo to b. prcdt2bl=
49, = GCSca that the company pGid
II C,.t"a tHi+end CT 81 q share en- No
N2mb-r Is Of this year and IS on a
regular dividend basis Of So a year.
Financial District Notes.
At a regular meeting of the board
OF directors OF the Prudential Building
Association, held Wednesday, a divi-
~%+N "a" tAAS A2SS OA " PCA Nc4At PNA
mum was declared, payable January
on all share payments Of record De-
cember 5.
Secretary Mellon today announced
that the subscription books for the cur
rent offering of l2-month 314 per cent
Treasury notes of series 1882, maturing
December IS 1882, for $500 600. .OOO,
n.ne-month 3 per cent Treasury Ger.
titicates Of indebteone S. series TS2-
1882, maturing September Is, 1882, fol
400,O0O,000, and siS-month ga pei
cent Treasury certificates Of indebted.
ness, series TJ-Is32. maturing June IS
1882, for $500 900 600, have closed.
rrnrArrrrnxr nr-nmrr~nn