Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-12-01

dIIlOullJ VII QCpOSiI
one year earlier and of $7,054 ,405, 900,
or 428 per cent, from the all-time high
point of S28 ,63l 900 established in
1880, he said
The loss in savings during the last
three years is represented in part by
boards, part is tied up in closed or
restricted banks and part is deposited
in postal savings not reported by banks,
but without doubt large part was
expended for living expenses and for
burdensome tax levics, which tend
to become intolerable during hard
times" Mr. Albig's analysis declares.
The loss of market cessation OF
industry slowing down of transporta-
ton, banking difficulties and unemploy-
ment of many millions of people have in
three years reduced the savings of each
inhabitant in the United States from
1922 to $170. or by $50 person." he
the reduction amounted to S24 per
1nhabitant.
IN the face Of a population increase
of 81 900 during the year. the number
of savings depositors suffered a reduc-
ton in their ranks OF 5,O84,373 or
lis per cent from the previous year.
The number now stands at 39,267,733.
The year 1928 marked the top in the
number of savings depositors, when
there were 53,188,348, which repre-
sented 44.3 per cent Of the population
of the United States, as against a per-
centage of 31.1 per cent having savings
in banks on June 80, 1888"
Dawson to Address Underwriters.
c. Preston Dawson of New York will
address the District Underwriters As
ISOLATION at the December meeting next
Thursday noon, at the Willard Hotel,
President Thomas p Morgan, jr., an
nounced today The guest speaker has
made brilliant record in the insurance
field starting in the business in 1924,
with the Mutual Benefit Life Insurance
Co., just after his graduation from
Bucknell University.
After experience in the field, he be-
came an agency educational director,
field assistant. brokers service manager,
assistant agency manager and agency
manager, which position he took in
January, 1927. During the next two
years he helped raise production in one
Office from S4,700.000 to s10,000,000.
In January, 1882, he assisted William
H. Beers in forming the Empire State
Agency of the New England Mutual in
New York. This agency has made an
enviable record in building up business.
Hanna New Reserve Director.
John H. Hanna, president of the Cap
ital Transit Co., the newly formed street
railway company in this city, has been
elected a class B director in the Fed
eral Reserve Bank of Richmond
Mr. Hanna takes the place on the
board of Edwin c. Graham. who re-
signed to become president OF the Ham,
ilton National Bank. No bank official
DC oil W oil Dac
Bank director. In filling out Mr.. Ora
hams term, Mr.. Hanna will service
through 1884, when he will be eligible
for reelection.
He will serve on the board represent
ing commercial interests, all the class
B directors being business men rather
than bankers His election had been
forecast. as he was the only candidate.
Notice of his election comes on the
very day that he assumes his new
duties as head Of the merged local
street car lines.
Christmas Clubs Get Good Start.
1t was reported in the banking dis
mas savings clubs, just opened by ID
Washington banks, are getting away
to a good start. Many members Of
the 1888 clubs were returning to the
fold today for the 1884 thrift exhibit
ton 1t is expected that good deal
of money from the 1888 clubs will be
put back into the new clubs or into
permanent savings. This has been
freely done in the past.
The annual Eastern Savings Confer
ence, sponsored by the savings divi-
sion American Bankers Association,
will be held at the Waldorf-Astoria
Hotel, New York City, Thursday and
Friday. January 25 and 26. it was an
nounced today.
The theme selected for the confer
ence is Current Banking Problems"
Insurance of bank deposits. real estate
mortgages, municipal credit, methods
Of computing interest, on savings &C.
counts and manuals of fair banking
practice under the N R. A will re-
ceive consideration at the conference.
Henry R. KinSey, president OF The
Savings Banks Association of the State
of New York. is chairman of the con-
ference committee
Today's Trading on Exchange.
Washington Gas Light bonds, Series
B IS, led trading on the Washington
Exchange today after yesterdays holi-
day. Three $1,000 sales were recorded
at 1924
matchbox E1ootr;o Douar y,or oov,f