Evening star., 1932-11-23
CHRISTMAS CLUBS
PLANNED FOR 1888
Local Banks to Cooperate in
Thrift Campaign Again
Next Year.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
with plans completed for the dis
tribution of approximately $8,5Oo,0Oo
in Christmas Saving Club funds to
about 100000 residents of washington,
the member banks composing the Dis
trict of Columbia Bankers Association,
are already making arrangements for
the opening of next years clubs.
They will be opened about December
1. and memberships and subscriptions
taken until January 5. On that date
pledges for the new year will be closed.
Last year the Christmas clubs did not
close until January is, but it has been
decided to make a shorter ana more
intense campaign this year.
Conducting of the cooperative cam
naipn will again be in the hands OF the
associations Advertising Committee.
The efforts of this committee have met
with such brilliant success In the past
that both the number OF members ana
the amounts subscribed have increased
steadily every year during the past nine
years, or since Christmas cIuos were
inaugurated in Washington.
AS in past year, the cooperative
campaign will be brought close to the
public through extensive newspaper ad-
yertising. It will be educational in It's
nature. the value of the clubs as
thrift measure. as we'll as furnishing
greatly needy Christmas funds. being
especially stressed The members of
the Advertising Committee hope ana
expect to make another new record III
both memberships and subscriptions.
The funds laid aside by Christmas
club members during the past year will
soon be back in their own hands to use
in any way they see fit. The boost
these funds will give holiday trade will
be far reaching.
Potomac Power Work Progresses.
In his quarterly report to the stock
holders of the North American Co.,
Frank L. Dame says that excavation
work is under way for Potomac Electric
Power Cos new generating plant at
Buzzards' Point. Shipments are already
being received on the company'S order
for more than million feet OF under
ground clay conduit, amounting to $50
carloads, which will be used to house
cable lines from the new plant and
also from a new substation at Takoma
Park where an auxiliary supply of
hvdro-electric power will be received
uI,on completion of the new tie line to
Eliicott City. Md. The Pennsylvania
Railroad has been granted permit to
build a railway extension from the
Warrington Navy Yard to connect with
Buzzaros' Point, thereby opening new
industrial and commercial area which
is expected to be a source of new power
business for the Potomac company.
Washington's largest department
store, and the last to maintain private
power plant, has signed a contract to
substitute electric service from the
Potomac company.
Cooperative merchandising and ad-
vertising have increased sales of oil
and coal burning heating equipment
actuated by electricity, Chairman
Dame adds.
.Du Pont Sees Brighter Outlook.
A brighter business outlook was pic
tured by Lammot du Pont, president of
the E. l. du Pont 6e Nemcurs Co., and
chairman of the board of General
Motors Corp.
In Waynesbo-o, Va, on his first visit
to inspect the du Pont rayon plant, he
said conditions are much better indus
trially and predicted that they will
continue to improve.
. Saying that there would be no radical
or quick changes, Mr.. du Pont predicted
business would rise gradually to its
normal level. The bottom OF hard
times was reached in Midsummer. ne
said
The Norfolk & Western Railway &C.
reports for 10 months ended October
81, 1882, net income of $12,2l7,201 after
taxes and charges, equivalent after
dividend requirements on per cent
preferred stock, to $8.14 a share on
/ ,4e6. .5O7 shares Of common stock. This
compares with s18,097, ,276, or s12.32 a
common share in first 10 months OF
1881.
october net income was s2,5l4,SlS
after taxes and charges, against net IN
come Of S2,487, ,2s6 in October. last year.
Today's ID. C. Exchange Trading.
Washington Railway & Electric pre-
ferred stock was again wanted on the
Washington Stock Exchange today. 10
shares selling at 8734. 10 more at 30
and 10 more, after CALL at the same
quotation. all sales being ex-dividend.
Potomac Electric Power 6 per cent
preferred came cut in 10-share lot at
1l0k, this stock also being ex-dividend.
division, $500 washington Gas IS, series
A, changing hands at 997s, same as the
last previous sale.
The local exchange will be closed to-
morrow, Thanksgiving day, while the
members give thanks that business has
been as good as it has during the past
IL months.
Heard in Financial District.
Stockholders CT the Bank of Bright
wood report receiving requests for a
payment of 100 per cent assessment
on their stock. They are asked for the
full amount in connection with the
double liability of bank stockholders.
It is the same sum as was asked by
the receiver of the Departmental Bank
few days ago.
The Council of Administration of the
District Bankers Association will hold
its regular November meeting Friday
afternoon at headquarters. Represent
atives Of the association have practical
" completed their work in raising the
quota for the Community Chest and
also assisting in the Red Cross mem
bership drive.
Every bank, investment establish
ment and brokerage house in Wash
ington will be closed tomorrow to OBJ
serve Thanksgiving day.
S. S. Kresgc has declared a divtdenc
of Is cents on the common and reg
ular quarterly dividend Of SITS on ths
! preferred, both payable January 8 Il
stock OF record December II.
Institute Meets Budget.
Reviewing finances of Washington
Chapter, American Institute of Bank
ing, Frank M. Perley, American Sc
curity & Trust Co., chairman Of thu
chapters Finance Committee. report
that the organization has been able tt
operate within its budget during tht
fiscal year. and is in very satisfactor.
financial condition.
Serving with Mr.. Perley on tn,
Finance Committee are Aubrey Q
Dooley, assistant trust officer. Federal
klnAi Rar, e. u