Evening star., 1932-12-16

established While lG2 branches We're
brought into the system through the
consolidation q State banks With ma
tiOual banks, i total OF 2o4 branches.
One hundred and talrty-tout branches
were lost To the national system. l0i
1hr Jugh liquidation oI the parent bank
and so Though action Of the directors
and shareholders, Controller Await
reports.
Thomson LaudS Christmas Clubs.
Stressing the advantages OF the
Christmas Savings Club rs one of the
best methods OF freedom from financial
worries during the gltt-maHlng holl-
day season, Eliot H. Thomson, char
man of the Advertising Committee OF
the District Of Columbia Bankers As
sociation. made most interesting ad-
dress over the radio last night, The
program being sponsored by the Bank
of Commerce & Savings. Mr.. Thomson,
who is connected with tie Washington
Loan q Trust Co. a4so made a strong
plea for extensive advertising. He Sala
in part.
times make their appearance, many
merchants IN their attempts at re-
trenehment slash Their advertising
appropriations as the first step in re-
ducing expenses. Yer their advertising
is their zo}r and only weapon OF de
f5nse against hard times. To quiz
advertising when il is needed most IS
like handing one's rifle over to the
enemy and inviting him to shoot.
True. advertising may not produce
so great a proporionate return durl9g
hard times. but i. viii bring a better
return than cutting it ont altogether
or yarinc it down 50 that it loses Its
effectiveness.
ordinarily. one Goes rot need doc
tor when Cne IS we'll but when SEX
ness Genes along. the doctor IS IN great
demand Advertising Is business
ooctar. When times are hard. when
business is sick. that is when the Coz
tor is most needed. The wise merchant
does not Let these occasional business
Gep~essions interfere with his publicity
program If anything he increases ms
advertising because he knows that more
medicine i, needed to cure the sick
man tila1a to Keep the healthy well.
The time to advertise is all the
tim
II. c. Weekly Bank Clearings Lower.
Bank clearings in Washington during
the week en6ed December IA totaed
sl6796 000. against the higher fgufe
ct e21.17l COO for the week ended De
GER -bsr !. and % per cent below the
CorresDonding week a year ago. Clear
.inos all over the United States were
lower this week than last.
Baltimore reported clearings this
week Of s4G.139 600. against s54 500. 900
in the previous week and 81 Per cent
behind the same week last year. Rich
mond clcarings held up well, being S28,-
100000. compared with S29,588000 dur
ing the previous week and only 20 per
cent below the total for the same week
year ago
Norfolk reported falling off from
cent from last year Atlanta noted a
moderate drop from the previous week
and the like period in 1881.
Bradstrcets Weekly reports that bank
bearings in a leading cities in the
United States for the week ended De-
ce,nber IA were off ~ per cent from
the week ending December II, 1881
The comparison is net as bad as ii
looks however, as midmonthly settle
ments came in the week last year but
not this year.
New Building Association Director.
C. Clinton James. attorney of the
Columbia Permanent Building AsSo-
cIatjon, has been elected to the direc-
torate Of that organization, announce
ment being made yesterday following
the regular monthly meeting OF the
board Mr. James. with three reelected
directors. viii serve for the next three
years. Reelected directors We're Mel
yin c. Hazen, L. Perry West and II. B.
le2ry.
The beard declared the semi-annual
dividend of 81 per cent. which amounts
to approximately 100000. officials of
the association announce that its as
sets now aggregate Sl,263, 900. marking
q gain of approximately $4,000 in the
past fiscal year.
Mr.. James is widely known in local
and national building and loan ac-
tivities, being a past president of the
United States Building and Loan
League chairman of its national Legis-
latiye Committee. national director and
at present a national committeeman.
Cleaned in Financial District.
At the monthly meeting of the board
Of directors Of tn Security Storage Co,
yes terdax, a regular dividend of S1.25
per share on the capital stock was de-
dared. payable January 10 to stock
holders Of record January 6. Books
Will be closed between those dates.
On the Washington Stock Exchange
TODAY. four $1,000 sales in Washington
Gas IS were recorded at l013s. Wash
jngf0n Gas 6s, series A, sold at par
and a small lot of Potomac Electric
Power 5 per cent preferred stock
moved at 107.
On Monday December 10, the Wom-
ems Committee Of Washington Chap
ter American Institute of Banking. will
hold its annual Christmas party fol
the women in Washington banks at the
Hay-Adams House. arrangements fol
same being in charge of Mrs. Gertrude
Wick OF the Liberty National Bank and
chairman Of the Women's Committee
of Washington Chapter 1t is to be
a childS party, each woman to b,
dressed as she thinks she looked as 9
yoUngster.
American Ice Co. has omitted the
quarterly dividend Of 25 cents on thc
common stock cue at this time. Regu-
lar quarterly dividend of s1.50 was de-
clared on the preferred, payable Janu-
AIRY 25 TO stock of record January 6
1893.
Postal saving, deposits on Novembe.
80 totaled 1891 054,718. an increase OF
S13.0O69 971 from the $3.50. .G47.747 on de-
post October 81, the Post Office De
partment announces.