Evening star., 1932-12-09


marked pickup in Christmas holiday
trade.
Nearby cities also reported substantial
gains. Baltimore clearingS amounted
to S54,692,0C0, against S44,974,000 in
the previous week, off IA per cent from
year ago. Richmond clearings were
S29. $685. 900. compared with $2A,832, 600,
and off 9 per cent from the like period
last year. Norfolk clearings were al
most double those of the previous week,
while farther South Atlanta reported
similar substantial improvement.
Bank clearings at 47 leading cities of
the United States. as reported by Brad
streets Weekly, showed substantial I'M
provement for the week ending Decem-
Der 7. At $4,934,7o4,ooO they were
346 per cent higher than in the pre-
ceding week and only 80 per cent be-
low the corresponding 1881 period.
Part of this advance must still be
explained away on the basis of the
Thanksgiving day holiday in the earlier
week but an improvement of 6 per
cent still remains. This is contrary to
the usual seasonal movement at this
time, with the result that the Clearings
Index, compiled by Bradstreet'S, rose
from 405 to 469 per cent Of the 1928
80 average, bringing it to the highest
level recorded since April 20. With one
intermediate recession, the index has
new risen Sc points or 25.7 per cent in
three weeks, the best gain it has made
this year.
Trust Company 43 Years Old.
President Corcoran Thom and the
other officers of the American Security
& Trust Co. received many congratu-
lations today on the banks forty-third
anniversary. The big event in the IN
stitution's calendar during the past year
was the completion last May OF the
remodeling of the main office at Penn
sylvania avenue and Fifteenth street
and its connection with the handsome
10-story addition completed and put
into service a year ago. The bank
has made an enviable record of growth
during its more than four decades OF
existence. The present officers in ad-
dition to President Thorn include:
Vice president, Howard Moran; Sec
retary. Frederick P. H. Siddons; treas
urer Charles E. Howe; trust officer,
David N. Houston; real estate ofhcer,
William L. Beale; auditor, j. Damn
Faber; assistant secretaries, Albert H.
Shillington and Robert L. Flather; as
Sistant trust officers, T. Stanley Hol-
land, Arthur G. Nichols, j. Eliot Moran
and Earl G. Jonscher; assistant treas
lIrers, William w. Keck, Hans w. Ire
land, Percy C. Brady, James c. Dulin,
jr.; Edward E. Swan, Richard E. Harris,
Harry P White and Charles c. Boswell.
Its directors are C. A Aspinwall Gist
Blair. Harry K Boss. George w. Brown,
Charles A. Garry, William M. Coates,
William S. Corby, William w. Everett,
William j. Flather, jr.; M. G. Gibbs,
James M. Green, Gilbert H. Grosvenor,
j. Philip Hermann, G. Percy McGlue,
William Montgomery, Howard Moran,
Clarence F. Norment, Newbold NoyeS,
Lob Tow
F. Shea, Corcoran Thom, 5. Percy
Thompson, Benjamin W. Thoron, John
F. wilkins.
Members of the Advisory Board for
branches are John M. Beane, William
E Bradley, Joseph P. Burke, Alexander
S. Clarke, Charles r. Denny, John B.
Geier, M. G. Gibbs, Charles M. Ham
NETT, L. A. Herman, j. Philip Herr
mann. Frank A. Johnson, Charles Kat
telmann, G. Percy McGlue, William
Miller, Howard Moran, James c. Nealon,
NJ. Frank Rupert John Saul, James
F. Shea, Alexander j. Taylor, Henry
Wahl, George NJ. Yeatman.
Insurance Men Elect Officers.
The Underwriters Association of the
District Of Columbia held its eighteenth
annual meeting yesterday at the Will
lard Hotel Charles E. Hood was elec-
ted chairman of the Governing Com
mittee, and Charles F. Roberts, branch
manager of the Home Insurance Co.,
vice chairman.
New members elected to the Govern
ing Committee are W. D. Elicit OF
Elicit & Shore, Inc; William M. Hoff-
man, president of the Firemen's In
surance Co. Of Washington and George
town; Douglas r. Phillips, vice presi-
dent Alex K Phillips, Inc. Eugene
Young of Young & Simon, and Edward
S. BraShears was reelected treasurer.
Directors of Jacobs Transfer Co, Inc
have declared the second semi-annual
dividend for 1882, payable to stock
holders of record December 2, payments
already having been made, according
to w. E. Humphreys, the president.
While drayage has declined consid-
erably, the officers report that expenses
have been held down so that net profits
in 1892 will exceed the full dividend
requirements.
The company has an Office in Balti-
more which is under the same board
Of directors and officers Officers re-
ported today that the business situation
in that city also is satisfactory SO far
as the transfer business is concerned.
Rail Earnings in South.
Glass / railroads in the Southern dis
trict for the first 10 months of 1892
had net railway operating income of
SI7144, 500, which was at the annual
rate of return Of 0.61 per cent on their
property investment. For the same
period in 1881, their net railway operat-
ing income amounted to S37.672. IFS
which was at the annual rate of return
Of 134 per cent on their property in
vestment. Gross operating revenues OF
the class ! railroads in the Southern
district for the first 10 months in
1882 amounted to S317,993, ,221, a de-
crease of 284 per cent under the same
period of 1881. while operating expenses
totaled $265 379 1925, a decrease Of 27.l
per cent.
Glass / railroads in the Southern
district for the month of october hac
net railway operating income of So
$40, 1872. compared with S3,787, $50 in Oc-
tober last year.
Cleaned in Financial District.
Eliot H. Thomson of the Washing
ton Loan g. Trust Co. spoke over the
radio last night On Christmas Savings
Clubs" a matter on which he Is ar
outstanding authority. Next Monday
evening Thomas j. Groom Of the Bank
of Commerce &, Savings is to speak or
the same subject.
George Stark, member of the New
York Stock Exchange house of Garter
q AO.s was d NtolDOi t14S AOIdA
cial district today
The Chase National Bank has de.
clared the regular quarterly dividend
of SO cents share, payable January
to stock of record December IS.
The New York Life Agents Clul
will hold its last meeting of the yea
on Monday at 1890 pm., at the May
flower Hotel Lemuel c. Sandford, as
sistant secretary Of the New York Lif,
Insurance Co. of New York viii b
the, principal speaker.