Evening star., 1931-12-18
Number

n. s ID
l925.. "a 2.462,000 43,9lI,0O0
1926 ~ % 46. $4,000 4S,573 900
i927 % 50.940,0O0 43, ,829 900
lq2S... % 51,505,000 SO. 855 900
lg2g,, % 63.566,000 65. 964 900
1880 .. "a 68.l43.000 7l,629,000
is3l..... "a 74.365.OOO 1892, 900
The "a local associations had total
assets OF SIS 1000, an increase of
S6994284, and an increase in men,
bcrship during the year of 3.2l0. The
report further showed that the District
Of Columbia building and loan associa-
tions had total mortgage loans outStand-
ing in 1929 of S65.l6300l, against
S70894. 900 in 1880. or an increase in
the mortgage loans outstanding over
the previous year of $3.50 999.
Members of the Washington Bond
Club and bankers who were present
as guests are still discussing the talk
by High Bancroft on Fighting Eco
nOmic Law" made at yesterdays lunch
con. His remarks on reparations
aroused special interest. At one point
MI Bancroft said:
The settlement of reparations and
of ntcrallicd debts set up an arbitrary
force which for the 10 years, 1921 to
1881. directed in round figures $780,,
100000 a year toward Paris and New
York in roughly equal proportions
This force was not subject to the op
Grafton of the normal economic forces
that before the war had controlled the
distribution of gold and had caused it
to move where 1t was needed to SuS-
stain the business activity of the world,
but operated arbitrarily. relentlesSly
and cumulatively for 10 years. By that
time a total of s5,00O0 100000 Of gold
had been so directed to Paris and New
York"
The effort of the United States to
collect the allied debts has already
cost more than the amount of the
debts. he said He did not use the word
"canCellation" yet that is clearly what
he meant He takes the view that if
one man owes another s10O and it will
cost 5000 to collect it. the thing to do
is to make no attempt at collection.
He applies the same logic to nations
and SAYS it is only horse sense to drop
the collection Of debts when the cost
of collection will be more than the
amount collected
The moral obligation involved should
be subordinated to the economic side,
he believes.
Latest Local Dividends Declared.
The board of directors of the National
ira dividend of 2 per cent on the capi-
tai stock payable January l, 1882. Books
Will be closed from December % to De-
cember 81. inclusive.
Directors Of the Real Estate Title In
surance Co. have voted the per cent
scmi-annual dividend due at this time
and an extra per cent dividend which
is also voted every six months. Both
dividends will be paid on December 81.
Employees Sell 1880 Phones.
During November, 3.197 new tele-
phones were installed in Washington,
of which 2.330 were sold through the
efforts of employees not members OF the
regular sales force. On November 80
there were l77.853 telephones in service
here
AS result of this employe selling
throughout the city. not only have the
losses in telephones sustained by dis
connections been Offset. but subStan-
tial increase in the number Of tele-
phones in service has been realized.
Also largely because of these sales,
the company has been in a position to
carry forward large construction pro-
gram and thus maintain the continuous
employment Of its forces.
Insurance Men End Contest.
A good sportsman luncheon at the
Army Navy Club was given Paul D.
Sleeper general agent of the Aetna Lie
Insurance Co. for the WaShington-Vir
glnia district today. Recently MI. Sleep
er accepted challenge from the Pitts
burgh. Pa. agency on production basis
fer seven weeks prior to November 80.
Pittsburgh won Notwithstanding a 10
per cent increase in business for the
period by the local agency. Tonight
Mr.. Sleeper departs for Pittsburgh to
extend to the successful agency work
ers dinner which was to be the re-
ward of the winners of the contest.
Members of the agency present at to-
days luncheon were L. G. EmmonS. H.
COchrane Fisher Freeman N. Stricklin,
A. llppert, II. c. Gaines, j. L. Rich
ards, DR.. James HaWfielG, H. B. Nc
Gulre, c. P. Sleeper, c. c. Mason. Guy
Hotel H. McReynolds, George Smith.
DR.. John F. Preston and D. B. Gusdorf.
Trading Confined to Bonds.
Trading on the Washington Stock
Exchange today was confined entirely
to bonds. The market opened with
81 900 Washington Gas IS. series A.
selling at l001.. Two $500 sales in
washington Gas IS. series B, were re-
N'ANN Va az 4oo 2, anu IlItIG NdS DdDy
BOND sale III this issue at par.
In the past few days the eX-dividend
list on the exchange has grown by
leaps. On the list of stocks soon to
pay dividends are American Telephone
Capital Traction, District National
Lincoln National Union Trust, Com
merce & Savings. Potomac Savings
United States Savings. Columbia Sand
& Gravel, Bromo-Selzer, Merchants
Transfer q Storage common and pre-
ferred, Mergenthaler, Real Estate Mort
gage & Guaranty preferred and the
Carpet Corporation.
New A. 7. & T. Stock Record.
AS of December Is. the American
Telephone Il Telegraph had 642, ,l8O
registered shareholders, largest total
for any corporation in the world and
the company's record total. THIS is an
increase of 74,500 shareholders over the
SGT ,694 on the books end of 1880. 1t
is also exclusive Of employees of the Bell
System who, are paying for their shares
on an instalment basis.
In the first half of December 5.337
shareholders were added to the list.
against 3,79l last two weeks of Novem-
her and 4,496 first half of November.