Evening star., 1935-02-09

bSUlIo liz SuIto lOl 1UuI NCCho CllNSd
January 9, 1885, showed a some
what smaller than seasonal increase
amounting to $34 ,292 900, or 3.8 per
cent over aggregate debts in the pre-
ceding four weeks ended December u.
1884, the increase being due in part
to holiday trade, but principally to
the large volume of annual payments
falling due on January l.
Make 324 Loans in Month.
Building and loan associations of
the District opened / 1,491 new accounts
during the month of January and
made a gain in assets of S977,530 i'll
the same period, according to figures
announced today by William S.
Quinter, secretary of the District of
Columbia Building and Loan League.
They made 324 loans for total OF
sl.l16694 during the month.
In giving out the figures Mr.. Quinter
stated that the gain in accounts and
assets was one of the largest ever
recorded for a single month in the
District and was remarkable because
of the fact that it was during what is
ordinarily an off month for the build
ing trades"
He declared that such record was
proof that the building and loan asso-
Citations were ready and willing to do
their part in financing home construc-
ton and repairs and that they were
in position to take over the load
which the various agencies of the
Federal Government have been assist
ing in carrying.
Offices Here so Years Old.
The two Washington offices of the
Prudential Insurance Co. of America
celebrated so years of business in this
city this week. With a gathering of
los insurance leaders present, busi-
ness meeting and luncheon took place
at the Washington Hotel Friday, at
which past successes were talked over
and future plans laid.
The entire staff of both offices was
present, j. H. Brine being manager OF
district No. l and S. G. Keery holding
the same position for district No. 2.
The home Office in Newark, N. j., was
represented by George w. Williams,
assistant secretary, and George W..
Kirk, division manager.
Opening for business here in 1885,
the company has enjoyed marked sue
cess ever since. The Prudential now
has in force in the two local districts
approximately S56,000,000 in life in
surance, an enviable achievement.
During the next two weeks the agents
here are planning a special drive in
connection with the 50th anniversary,
stressing particularly the reinState-
ment of any insurance that may have
been discontinued during the depreS-
sion.
Booker Urges Code Attention.
Y. E. Booker, chairman of the In
vestment Bankers Association Code
Committee in district No. Is, has for
Warded to all registered investment
dealers in this territory copies of an
address delivered by Judge John j.
Burns, chief counsel Of the Securities
& Exchange Commission, at the re-
cent meeting here, the address point
ing out the importance of reporting
all code violations. Chairman Booker
adds:
THE committee asks the active CO.
operation of all the code members in
the district in its efforts to perfect
compliance with the code. Without
such cooperation, your Regional Code
Committee must obviously be limited
in it's proper duties of reaching and
dealing with violationS-whether will
full or unintentional. Such co-opera-
ton is a matter of duty in the public
interest and constructive factor in
the maintenance and development of
the business"
The territory in district 13 includes
Washington, Maryland. Virginia, West
Virginia and the Carolinas.
Operating Revenues Gain.
Glass l railroads in the Southern
district in 1884 earned a net railway
operating income of $54, ,523 ,781, which
was a return of 1.69 per cent on their
property investment. In 1888, the net
railway operating income amounted
to S59,677 ,489, which was a return of
1872 per cent.
Total operating revenues of class l
railroads in the Southern district in
1884 amounted to 08,242, ,451, an in
CREASE O1 O1 pei CGL1I ONG4 "AAAAC
operating expenses totaled $3l5,267,- :
588, an increase of 8.3 per cent.
Net railway operating income of
class / railroads in the Southern dis
trict in December amounted to So
670,303, while in the same month OF
1888 it was $6,615,028.
The net railway operating income
Is what is left after the payment OF
operating expenses, taxes and equip
ment rentals. but before interest and
other fixed charges are paid.
Other Financial Notes.
President Roosevelt says that it
was his purpose to make clear tc
Congress the general purpose of the
banking act of 1885, but not to
recommend the exact wording Of the
proposed legislation. He prefers tt
leave to Congress the final wording
of practically all legislation. Failure
to recommend" the legislation does
not mean that his mind was fillec
with reservations regarding 1t, ne
said.
According to the Bankers Maya
zine If the Government is really in
tent upon restoring confidence, one
of the best moves it could MAKE
would be to restore the Federal Re-
serve system to its former pos tlor
of practical independence. II Z
really wishes to cooperate with thu
bankers" the magazine adds. Il
could best do so By going further ant
giving them some measure Of author
ity by providing for Reserve bank rep
resentation on the Federal Reserve
Hnard