Evening star., 1933-12-12
Jan. l
to

Richmond .... - s. -
cbicaso ccftSget ''.... ~ i 50 20
81 Louis ..' = ~ u
Esh Pa5lfi Francisco. CO.: z I: 8 = 81
November figures preliminary In most
cities the month had the same number of
business days this year and last year.
Comparisons for the II districts are
unusually interesting. While the Rich
mond district was ahead of last year by
l per cent 1t was l per cent under the
average for the whole country The
fifth district decrease for eleven
months was exactly the same as the
record for the United States
Big Cotton Checks Reflected.
The gain of Is per cent in November
in the Atlanta district and 13 per cent
in the Dallas area reflects the receipt
of millions in checks for the restricted
raising of cotton. Practically all this
money had been received by November,
and great deal of it was pushed into
the channels Of trade.
Without doubt the gain of $4,000 900
In the amount received by cotton grow
ers in Virginia, North Carolina and
South Carolina had lot to do with
the record scored in the Richmond dis
trict. 1t helped keep the November
record above November. 1882, and was
an equally important factor in reduc-
ing the decrease in percentages for the
trSt II months Of this year.
While Boston, New York and Phila-
oelphla reported decreases of per cent
unoer the November records year ago,
oiSpatches indicate that New York has
~ hn
cember. Latest reports indicate that
trade in Gotham is now much ahead of
the like period last year.
Irade IN the Cleveland and Dallas
olstrlctS Is now only 2 per cent under
the ngures year ago. It seems more
tnan probable that the December re-.
ports Will put them well ahead of last
year. Atlanta and st. Louis NAV oct
INTO the same status.
Given Home Loan Posts.
The Federal Home Loan Rant of
Winston-Salem announced TODAY tbot
the Federal savings and loan division
Feoeral Home Loan Bank Board. WASH
lngton, had appointed Samuel w. Bor-
oen ana John H. Randolph as organ
lZerS IN the Federal savings and loan
dlVlslon to serve the Fourth Home Loan
BANK District, represented by the States
OF Alabama, Florida, Georgia, Maryland,
NoitH Caronna, South Carolina, Vir-
glnla and the District of Columbia.
Mr: Borden received his experience in
petual Building Association of Wash
mgton: He is assigned to the States of
virginia, Maryland, North Carolina and
the District of Columbia.
Mr.. Randolph has been secretary
treasurer of the Building and Loan
Association of Richmond for four years.
During that time he has helped build
one of the recognized building and loan
associations of Richmond. He is as
slgned to the States of Georgia, Florida,
Alabama and South Carolina
In their position as organizers, Mr..
Borden and Mr.. Randolph are travelling
through the fourth district consulting
with local business men and civic
leaders with view to the desirability
OF organizing Federal savings and loan
associations in communities now lack
ing home financing institutions or in
adequately served by existing institu-
tions.
Bank Stock Purchases Pushed.
The Reconstruction Finance Corpora
ton is mainly concerned at present with
its campaign to purchase preferred
stock and capital notes from banks as
a credit expansion measure. Chairman
Jones states. The organization is also
doing all it can to free deposits in
closed banks.
Chairman Jones reports that up to
yesterday the corporation had author
lied the purchase of preferred stock in
1872 banks, involving an aggregate
amount Of $440, 100000
The chairman also feels that the re-
covery program is becoming more gen.
eral, at the same time asserting that
there will be no bank failures after
the Federal deposit insurance plan goes
into effect next month, so far as banks
taking part in the insurance fund are
concerned.
Strfcter supervision of banks is also
coming, the r. F. C. head says, since
the deposit insurance organization will
suppliment present supervision meth
ods.
Heard in Financial District.
CAPITAL Traction sold in small lots
at ID on the Washington Stock Ex-
change today. Washington Railway &
Electric preferred led the market, 60
shares changing hands at 81. Potomac
Electric Power 512 per cent preferred
sold at los.
Wholesale commodity prices advanc-
Gu SllgIlLly ldSG week, LIle NdClOlldl FER
tilizer Association reported today. The
index advanced from 68.5 for the pre-
yious week to 688
John j. Ghinger, Maryland State
bank commissioner, and receiver for
the Park Bank. of Baltimore, which
closed in August, 1882, hopes to make
a per cent distribution to creditors
OF the institution before Christmas.
The Peoples National Bank of Han
Geek. NJ, Cp nd its 6oo-s Yesterday
Cl a 100 rer cent basis. 1t is the
successor to the First National and is
Going business in the same building.
The average yield of New York City
bank stocks is again over z per cent
as a result of the reaction in prices
during the past week. The aggregate
market value of the 16 leading issues
Is now S1,1O5. .282, 600. a decrease Of