Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-28

AS announced Monday evening by
Eliot H Thomson, chairman of the
Advertising Committee Of the District
Bankers Association, the 1881 clubs
show a total increase Of $500 members
over the 1880 membership and gain
of SEAS, $50 In the amount subscribed
compared with last year.
The unusual interest manifested in the
Christmas Savings Clubs in washington
banks is shown by the per capita
figures. The average per member is S86,
against s84 last year and $3.50 for the
country as a whole.
The above table shows that the num-
Der of accounts in the various banks
has Jumped from less than $4,000 in
1924 to almost 900 in 1881. At the
same time the amount subscribed has
gone ahead by leaps and bounds dur
ing the eight years from $4,000 600 to
well over $4,000 900.
Unstinted praise is due to Eliot H.
Thomson of the Washington Loan 81
Trust Co. and the other members OF
the Bankers Association Advertising
Committee Mr.. Thomson has been
chairman of this committee for many
years and has put great deal of energy
and time into spreeding the doctrine
of thrift in Washington, and especially
the Christmas savings club idea.
Security Loans OF $97,OOO,0OO.
Federal Reserve Boards condition
statement of weekly reporting member
banks in leading cities on January 81
shows decreases for the week OF $685.
900 COO in loans and investments. $173,-
100000 in net demand deposits. S14,-
100000 in Government deposits and
S10,000,000 in borrowings from Federal
Reserve Banks. and an increase of $3l,-
100000 in time deposits.
Leans on securities declined S56,-
100000 at reporting member banks in
the New York district, S21 100000 in
the Chicago district. $4,000, 900 in the
San Francisco district and $4,000, 900
at all reporting banks "All other"
York district and $4,000, 900 at all re-
porting banks, and declined S11 600, 900
in the Chicago district and 5000, 900
in the San Francisco district.
Commercial Credit Gets Contract.
The Franklin Manufacturing Co.,
makers of automobiles, have entered
into an agreement with Commercial
Credit Cos. of Baltimore providing for
the retail time sale financing Of Frank
lin products through their dealers and
distributors on a Nationwide basis, ac-
cording to an announcement today in
Baltimore. Commercial Credit Co.'S an
ticipate a substantially increased vol
ume as result of this agreement.
Made National Director.
Z. p. HinkeI of Washington was cleo
ted one of the directors of the National
Rug Cleaning Institute of America at
its annual convention held In New York
City recently The convention was at
tended by 300 men from all sections OF
the country. The board of directors is
composed of 10 men chosen from the
big cities of the States.
The regular monthly meeting Of the
board of directors of the Chesapeake q
Potomac Telephone Co. was held yes
terday. Included in the appropriation
passed for extensions to the telephone
system are underground conduit and
cable extensions in the downton bust
ness area.
Heard In Financial District.
The Great Atlantic g. Pacific Tea Co
has declared 81 so quarterly dividend
on the common stock, placing the stock
on q So annual basis. The stock has
been on SIS basis and paid 25-cent
extra three months ago.
The Union Trust Co. opened its doors
for deposits just 80 years ago this morn
ing. The bank is really 81 years old, as
it received its charter year before the
uOOTS Optncuf biAE tAiAlC bCAAA6 ASCA a.
thorough organization.
All officers OF the National City Dairy
Co. were reelected yesterday, as fol.
lows: M. j. Hime, president, treasurer
and general manager; Joseph G. Fish
vice president; Simon T. Price, secre-
tary, and Dion S. Birney, assistant
treasurer.
Promotion, operation and administra-
ton are the three fields of trust &C.
tivity TO be discussed at the Twelfth
Midwinter Trust Conference, to bt
held in New York February II. 10 anc
Ie, which will be attended by severa
Washington trust company officials.
Norfolk g. Western 1880 net SCI 81
q common share, against $29.05 share
in 1929
American Ice Profits Up.
December profit Of American Lei
Company and subsidiaries was sol or
after interest, but before Federal take
and depreciation, comparing with $50,
sos in December, 1929.
For year ended December 81, 1890
profit before Federal taxes and depre
citation amounted to $5,690,078, com
pared with $5,6l8,37l in 1929.