Evening star., 1932-12-22

proving Coiloieioiio
during the next y RoIfe E. Boiling.
months. 1890,
Mr.. Boiling resigned as a vice presl,,
dent of the Federal American Natlonal
Bank and manager of the branch office
at Fifteenth and H streets to take lne
presidency of the Liberty National. Ihe
move was only from one corner OF u
city block to another corner OF the
same block as the Liberty Bank Is 10
Gated at Fifteenth and l streets.
From associates, recalllng the ahili-
yersary, Mr. Boiling has received many
hearty CONGRATULATIONS on his success
GrIrino the past year Under his ex-
rerienced guidance the bank has made
an enviable record. The ability, con-
soryatism and long experience, when
he took to the bank, have been amply
rewarded. , -o,.
Mr. Boiling starts his second year
ms head of the institution with aDouC
40 wears of banking experience behlno
him, A member of the widely known
Virginia family of BollingS, he began
his career at Abingdon. From there ne
went to Baltimore and later to Panama
where he organized two forelgn panks;
with the exception Of several years
official connection with the Cnalham
Phenix National in New York. the rest
of his work as banker mas oeen oolle
in washington. For three years ne was
president of the Commercial Natlonal
and was president of the Merchants
Bank 81 Trust Co. When II nerseo Will
the Federal-American.
In addition to the president, the
other Liberty National officers INCLUDE
M. F.. Calnan, vice president ana
cashier; T. P. Littlepage. general coun-
sci and trust officer; William v, SIM
mons. assistant trust officer; j. b. SAln-
ner. j. H. O'Neale and c. c. Crantord'
assistant cashiers.
1888 Industrial Pickup Seen.
In its summary of the general busl-
ness situation, Standard Statistics COM
mentS as follows:
"A preliminary survey of the outlook
for the first quarter OF next year lndi-
Gates that no leading industry IS likely
to experience greater volume than IN
the same period of 1882. The mere
statement of this conclusion, however,
obscures a definitely favorable treno, as
compared with the relative shoW1ngS OF
most trades in both the third and
fourth quarters of the present year:
First quarter 1888 industrial activity
,,roI,ablv will be quite uniformly higher
than that of the current three-month
reriod excluding retail trade. building
and several other lines in which the
trend is seasonally downward. The lag
in most divisions, moreover, Will pc ma
terially smaller than that which occur
red in the corresponding quarter OF
1882
Profit margins, as a result of ad-
juSted costs and freedom from lnVen-
tory losses, are likely to show definite
betterment The ratio of decrease IN
fNy- g hnCOrn-
ing smaller with each succeeding
month and this encouraging phase
must not be overlooked in surveying
prospects for the early part Of 1888.
.'FXemplifying the indicated general
trend estimated freight car loadings in
the first quarter of next year are placed
at a level only 6 per cent under that OF
the same 1882 period, as compared with
a present level of II per cent below
that CT year earlier, and decline IN
1882 as whole of close to 25 per cent"
Peoples Drug Sales Reported.
Sales of Peoples Drug Stores, Inc,
for November, totaled 81 ,248,6l0, against
S1,407,497 in the corresponding month
last wear a decrease of S158, 887 or lib
per cent. The company also made
report today for the first II months OF
1882, showing total sales of Sl4 ,4066 646,
in comparison with 15,690.177, de-
crease of 81 203, ,531. or only 7.6 per cent
behind the corresponding months in
1881.
The American Stores Co. reported sales
today for the five weeks ending Deceln-
ber 3, the total being S10.551153.
against s12,391 1898 in the similar period
per cent Sales for the first II months
of the present year totaled S106, ,203o66,
as compared with S125, ,623,724 in the
first II months of 1881, falling off Of
S19,420,653 or 15.4 per cent.
The company's report for October,
1882. showed sales off 16 per cent, as
compared with the like period in 1881
so that today's report shows a favor
able upturn over the previous period.
Bethesda Bank Votes Dividend.
At the monthly meeting of the di-
rectors of the Bank of Bethesda, the
regular semi-annual dividend of 3 per
cent was declared, payable December
81 to stockholders of record December
81. S. Walter Bogley, the cashier, an
nounces.
The Maryland Trust Co. has declared
the regular quarterly dividend Of 80
cents per share, payable December 81
to shareholders of record December %.
AL the local New York Stock Ex-
change offices will be open Saturday as
usual following action in New York
yesterday when the governors declined
to close the big exchange from Friday
afternoon until Tuesday.
The Washington office of Alexander
Brown & Sons is offering City of Rich
mOnd per cent bonds, dated January
/, 1888, and maturing in 1943 and 1857.
The bonds are Federal income tax
TOO in, tho Tjcf .ipt
of Columbia.
The annual meetings of all the ma
tional banks in Washington and several
other local banks will be held. on jan
nary 10, when stockholders will elect
directors for the coming year. Several
will also elect officers at the same time.
John M. Riordon. executive vice presi-
dent of the Bank of Commerce d Saw
ings. will speak on Christmas Savings
pver WMAL at 7:30 this evening. This
Is another of the radio talks sponsored
by that bank.
Rapid Transit'S Net OFF.
Operating revenues OF the Washlng-
fen Rapid Transit Co. in November
fotaled S33,67437 against $40, 14o.52 III
the same month a year ago, decrease
of S6.46615. according to the monthly
statement Just filed with the Public
Utilities Commission.
Operating expenses and taxes aggre-
gated S35,745.33 against S44,43O.o9 a
year ago. Net income after all the
usual deductions revealed loss of S4,-
s9O.91 against S6,915.92, an improve
ment of $2.025.51.
For the first II. months of 1882 gross
income, less operating expenses and
taxes, presents a net loss of S29 1877 81
an advance of $16,113.20 over that for
the same months of 1881, when it was
Sl3,084.42.
Net income Cor the II months OF
1882 shows deficit of S6015768, al
increase In this item OF S16,64A.45 over
That of the deficit of the corresponding
tASiod a year ago. $43.3l3.23.