Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-10-23

bankers in the r. ,,un,o, Ioi,h
city. Born in
Ioudoun County. Va, in 1898. he be-
came resident of Washington in
1902, attending the public schools and
Emerson Institute. He first became
associated with the Security Savings
Il Commercial Bank in 1914, was
elected assistant cashier in 1926 and
secretary in 1884 During the World
War he served overseas with the 60th
Artillery.
A graduate of the American InSti-
tute of Banking, Mr. Leith has been
q leader in the activities of the local
chapter and also in the national Or
ganization. He was president of
Washington Chapter in 1867, has
served on all the important commit
tees and is at present a member OF
the Board of Governors. His work
on the associations Banquet Commit
tees has been particularly notable.
In the national organization he was
member. of the Executive Commit
tee in 1929-30. He was chairman of
the Washington Convention Commit
tee when the national convention Of
the A. I. B. was held here in 1884.
In addition to his work in the Ameri-
can Institute of Banking, he has also
served as member of numerous COM
mittees in the District Bankers As
ISOLATION. His advancement today is
considered a deserved promotion by
his associates at the bank
Business Barometers Climb.
Compilation of important business
barometers for the first nine months
of the present year reveals further
recovery in Washington-in fact, that
business has come all the way around
that famous corner"
For the first nine months of 1885
the Potomac Electric Power Co.'S kilo-
watt hour sales are far ahead of last
year. Every month has shown a sub
stantial gain. The September gain was
1899 per cent ahead of September,
1884. Other months have scored prac-
tically the same advances.
The Washington Clearing House
figures show clearings have gone for
ward by leaps and bounds ell the year.
At the end of September the total sum
involved in Cancelled checks passing
through the Clearing House was more
than sl50,000,000 higher than in the
like period last year.
In the last nine months postal re-
ceipts in the Washington Post Office
have been advancing rapidly. Every
month has outdistanced the CORE
spending month of the previous year.
Gains and more gains.
So it is with the number of tele-
phones in use and the number of
telephone calls. In September alone
the Chesapeake g. Potomac Telephone
Co. reported 769, $50 average originat-
ing calls per day, compared with 49,
28l in the same month last year.
Nine months of advances in retail
sales also have been chalked up. not
small gains, but much larger advances
than reported in other cities So it is
with life insurance sales and business
In other lines. Reports so far in the
fourth quarter continue the upward
trend, so it now is certain that the
year will end with substantial i'm
provement over 1894.
Lanston Declares Dividend.
Directors of the Lanston Monotype
Machine Co. have declared the regular
quarterly dividend of 81 per share
payable November 80 to stockholders
of record on November 20.
Another dividend of special interest
to Washington, noted in The Star
late yesterday. is the regular quar-
terly payment by the Norfolk &, West
ern Railway of 81 per share. payable
December 10 to stock of record of No.
vember 80. For the first nine months
of 1885 this road reports net earnings
OF Sl1l6 a share on the common
stock, against $40 a year ago.
Investment dealers in this city who
are planning to attend the twenty
fourth annual convention of the In
vestment Bankers Association at
White Sulphur Spring w. Va, Octo-
Der Is to 80, include George M. Fer
ris of George M. Ferris & Co.; John
Clifford Folger Of Folger, Nolan &
Co.; James H. Lemon of James M
Johnston & Co.; William w. Mackall
jr.; Carl R. Kurtz of Stroud. Kurtz
Il Co.; Kenneth S. Wales of K. S.
Wales & Co., and Y. E. Booker of Y
E. Booker & Co.
The governors of the Federal Re
serve banks are holding their Fall
meeting in Washington, no report yet
having been given out on their de-
alterations. Gov. George ]. Seay of
the Richmond Reserve Bank is among
those present.
The closed United States Savings
Bank, Carter B. Keene. receiver, is
paying a second dividend to depositors
OF IS per cent, amounting to $256, 45S.
This supplements previous payments
OF IS per cent, making a total of 80
per cent for the depositors
Mergenthaler Bids Advance.
Due to a sale of Mergenthaler Lin
otype stock in Boston yesterday at
36l2, the asked price jumped on the
Washington Stock Exchange today to
SO, with an advance. to 1854 in the
bid No sales. The reason for the
sudden advance in the stock is still
unexplained.
Other issues on the Washington Ely
CIldIlSO UOQdy WcIe StlOlls. 1ldStAOla
bonds sold at 97ss. City e. Suburban
IS were out at 81 and Railway IS at
1855. Capital Transit stock sold at
1879 and 1914.
The first of the Winter meetings of
the District Life Underwriters Asso-
citation takes place tomorrow noon at
the Willard. The monthly meeting of
the Safe Deposit Section of the Bank
ers' Association comes tonight.
Washington Chapter, American
Savings, Building & Loan Institute,
is holding a lecture series. one being
given in the Thomson School every
Thursday evening by Harry j. Kane,
jr. Julius Maedel is chapter presi-
dent this year.
The Securities Exchange Commits
sion shortly will announce decisions
on questions involving confidential