Evening star., 1935-11-24
Checks Distributed Early
in December Will Range
From $25 to $1,000.
$40 AVERAGE NEARLY
DOUBLE NATIONAL MARK
Clubs Membership Total More
Than 10000 Above 1934-vol-
ume Up About Million.
BY EDWARD C. STONE.

Bend cnecRS early IN december 10
$4,000 members of Christmas Savings
Clubs maintained by these institu-
tionS, distributing a total of $780,
900 or an average of $79 to each
member. Actually, however, the
amounts paid will range from $25 to
$1,000, with interest added for all who
kept up their payments.
Figures issued by the District of
Columbia Bankers Association yes
terday showed that one in every eight
residents of the Capital is a member
of Christmas Savings Club this year.
The amount per capita is nearly dou-
bic the national average of $44 per
member, the report revealed.
Three banks in this city are near the
head of list of 40 banks in the prin-
ciple cities of the country in the
amount to be distributed, according
to Christmas club statistics sent out
from New York. This report states
that for the country as a whole some
$4,000, 100000 will be paid out in
the next few days.
Interesting information was secured
through a direct-mail QUESTIONABLE
sent to a large number of Christmas
club members asking what use is
usually made of the funds received.
Replies indicated that AZ per cent
went for Christmas purchases, about
% per cent for insurance premiums,
interest and taxes, while "a per cent
of the total accumulation was put
back into permanent savings ac-
counts.
The 1885 Christmas Savings Club
totals for Washington show an in
-. crease in membership over 1884 OF
over 10000, with a gain of nearly
S1,000,000 in the totaI to be distrib-
uted. Bankers are anticipating rec
ord enrolment next month after the
opening of the 1886 clubs on Novem
Der 80 First of this years funds
may be sent to members shortly after
Thanksgiving, according to plans in
some of the banks Early payments
Christmas goods.
Store Sales Mount Rapidly.
oHdSOIldl
up rapidly in Washington during the
past week. Under the favorable in
f1uence of colder weather, department
store sales here climbed back to a
higher level, registering 37.3 per cent
increase over the previous week and
pit per cent over the corresponding
week in 1884, the Commerce Depart
ment reported yesterday in a review
of business in SO important cities.
Bank clearings continued to gain,
with an increase of go per cent over
the preceding week and 326'pe cent
over the same period last year. The
value of building permits took slump,
decreasing 241 per cent from the pre-
vious week and SIS per cent from the
same week last year, the latter drop
being due to construction of $260,000
garage by a local construction COM
pany at this time year ago. q.
In the whole fifth Reserve district
the increase in bank clearings was
specially stressed as rejecting busi-
ness Improvement. Richmond debts
gained 13 per cent, retail trade forged
ahead in Baltimore, but rainy weather
hampered Norfolk trade. Much de-
ferred buying was released in the five
States and the District Of Columbia.
Visitors here were not as numerous
at the Smithsonian as a year ago.
Bank Loans Climbing Here.
Indication of the hearty co-opera-
ton accorded by the banks and other
lending institutions in the city to the
Federal Housing Administration is
furnished by figures just issued by the
administrator. They reveal that 1888
modernization or Title I loans have
been made by the local banks. totaling
S1,773 ,48174. Five hundred and
twenty-nine more loans were made by
other lending institutions for total
OF $242, 2,610.82.
Long-term insured mortgage loans
known as Title II, aggregate the i'm
pressive total of $3,928,870, of which
amount the banks have made 387 for
S2,591 $40, and other institutions in
and outside the District have granted
2l3 amounting to $l,336, 900.
Banks report continuing activity
In both types of loans and express
qualification at the improvement in
business effected especially by the
credit extended for the loans under
Title I, which are for repair, remod-
cling and enlargement.
Security Storage Stock Jumps.
Four small-lot sales in Security
Storage Co. stock were reported on
the Washington Stock Exchange yes
terday, at LOG, up full points from
the last transfer. Potomac Electric
Power per cent preferred again sold
at 1091a. The days heaviest trading
was in Capital Traction bonds, these
bs figuring in five consecutive $1,000
sales at 95A, up "a.
The week closed with the bid on
Washington Railway g. Electric COM
mon remaining at $500 share, with
$500 asked, both quotations ex divi-
dend. The closing bid on Mergen-
thaler Linotype was 31A, with .32H
asked, following two sales Friday at
81 just after reports from the annual
meeting had been received here.
Holders of American Telephone
stock are interested in suit filed in
New York by the parent company
and % subsidiaries seeking to enjoin
the Federal Communications Commits
sion from enforcing its order of June
20, 1885, requiring uniform system
of accounting for all companies hav-
ing operating revenues in excess of
$4,000 a year. The complaint says
the system of accounting called for
l. arbitrary and unreasonable, an
abuse of the commissions power"