Evening star., 1933-05-28
City Has Over 80 instruments
for Each 100 People, New
Survey Reveals.
D. c. BANK OUTLOOK
SHOWING IMPROVEMENT
Nation Wide Trade. Industrial and
Financial Review Pictures
Steady Gains.
BY EDWARD c. STONE.

Washington has more than twice as
many telephones for each 100 people
as the United States as a whole has
according to the report of telephone
statistics Of the world, just compiled
by the American Telephone & Tele-
graph Co., as of January /. last year
This city now has 1874 telephones for
each 100 of its population, as compared
with 1873 for the entire country. This
latter figure Is nearly eight times the
telephone density of Europe.
San Francisco leads the larger cities
OF the world with 391 telephones fer
each 100 people. Washington stands
second in this tabuiation which speaks
more than well for the officials Of the
Chesapeake & Potomac Telephone Co.,
q unit of thes great Bell System.
The nine American cities whose pop
ulation exceeds ZOO, 900 had an aver
age of "a telephones for every 100 in
habitants and the 81 American cities
of more than 10000 population were
only slightly less well equipped with
these important instruments.
The largest American cities have a
greater number of telephones than are
found In most European countries or In
several entire continents.
d. C. Bank Situation Improves.
The banking situation and outlook in
Washington has improved rapidly dur
ing the past few days. It was an
nounced yesterday that the District
Supreme Court has approved the sale
Of the Chevy Chase Savings Bank to
the Riggs National Bank which plans
to operate this Institution in the future
as branch.
ken I,SvD ,o,Ee t,e
first definite disposition of any of the
13 local closed banks. The Chevy Chase
branch will be opened on June is and
after that date the citizens Of this well
known suburban section will again be
offered complete banking facilities. At
the same time, John G. Walker, the
conservator of the old bank, will give
his best efforts to converting all frozen
assets into cash for the benefit of de-
positorS and stockholders.
As noted elsewhere in The Sunday
Star, plans in connection with the
merging of group of local banks into
the Hamilton National Bank, have
been pushed forward rapidly in the
past few days. The campaign to raise
the required amount of new capital
ganization Committees of the various
banks seeking consolidation.
Ofhcials of the Franklin National
Bank said yesterday that they had re-
ceiyed favorable replies from holders
of $1,9o0,000 in deposits. Holders OF
$2,1oo, 900 deposits must agree to the
reorganization plan in order to make ii
effective. Ofhcials feel sure the goa
viii be reached this week and have
high hopes of reopening shortly. Wal
ter M. Brown. chairman of the Frank
Inns Reorganization Committee, de-
clares "the bank has no intentions OF
entering any kind of local consolida-
ton"
The Industrial Savings Bank con-
tinues to push its stock selling drive In
an effort to raise sufficient new capital
to allow reopening as q national bank.
Survey Shows Marked Gains.
Industrial and trade activities through
out the country in May have continued
to extend the gains recorded In April
and indications are that the present
substantial rate Of improvement will be
projected into coming months, accord
ing to the results of a nationwide sur
vey Just completed by Fenner. Beane d
Ungerleider, members of the New YorE
Stock Exchange. The survey was made
public yesterday by John D. Mother
shed, manager of the firms local office
Financial conditions. too, show con-
tinued improvement and the percentage
of bank deposits still frozen, except II
two or three hard struck sections, Is moi
regarded as sufficient to retard genera
trade recovery.
The survey, directed by the firms main
organization in New York, was con-
Quoted by the personnel of its branch
Offices covering important industrial
agricultural. shipping, oil, automobile
and resort centers stretching from Chi
cago and Toronto on the north to Gal
weston, New Orleans and Miami on the
south, and from New York, Washington
Richmond and Norfolk on the east Il
San Antonio, Fort Worth and Okla
homa City on the west
Business activity for this area, whlcf
comprises the entire country east OF
the Mississippi as well as the Southwest
the survey shows. fecorded another in
crease of about Is per cent during May
over the average rate of activity 10,
April. which itself represented an i'm
portant rebound from the low level Of
March. OF great significance is thu
showing made by retail trade which
despite the April advantage of Easter
buying. recorded further gains in May
ranging from 10 per cent to SO per cent
and In a few instances showing extreme
Improvement OF over 200 per cent. Tht
Middle and South Atlantic districts re-
cord the best showing in retail sales
with an average gain of about 35 pei
cent In May over April.
The survey generally indicates urbar
cente-s far ahead of agricultural sec
tions in stepping l;p demand for con-
surner goods. an indication that "ar
enormous reservoir of latent demand
is available to support maintenance o.
the current rate of increase in sales o.