Evening star., 1935-05-31

vious month, it was disclosed today
by reports of the Washington Clear
ing House Association.
Value of checks through Wash
ington banks increased from S7,924.-
33l 80 in May. 1884, to s9,493. .99S.94 in
May. 1885, as compared with only
$5.893, ,34908 in May. 1888.
Clearings for other months to date
here this year were as follows:
January ......... Sl0,236.059.3
February ........... 7.18l. .47909
March ............. IL ,861 SASS
April IL 1874 .865l
The total clearings to date this year
are $50. .707 ,97707 as compared with
s43,506. .77575 up to the same date
last year
Phone Revenues Gain.
Operating revenues of the CheSa-
peake g. Potomac Telephone Co. were
S857.458 for April, 1885, as compared
with s83l,587 for the same month
last year. according 20 the report OF
operations just filed with the Public
Utilities Commission of the District
OF Columbia.
Operating expenses, including inter-
est. amounted to s672,0lS. Net op-
Grating revenues were $l65.44O.
Taxes for the month OF April
amounted to S67.304 AS compared
with s64,S61 for April, 1884 The cost
of telephone plant in service on April
30. 1885, was s36,573,l6l. according
to John A. Remon, general manager
of the company.
Telephone calls also increased in
April( there having been 2l,7l8,OOo
calls made during the month, as COM
pared with 20063.000 calls during
April. 1884
Washington was served by l93,S58
telephones on April 30. This was
net increase of 1909 telephones over
the preceding month.
Store Sales Jump.
DEPARTMENT store sales in the Fifth
Federal Reserve District averaged
nearly 81 per cent IN April above the
dollar volume of business done in, the
same month last year, the Associated
Press reported today from the Fed
eral Reserve Bank at Richmond.
Cumulative sales since January l
totaled approximately per cent more
than sales in the first four months OF
1884. the report showed.
April and the first nalf of May wit
messed decline in rediScounts at the
Richmond Reserve Bank, an increase
in industrial loans for working capl-
tai and increase in member bank re-
serves. and a seasonal decline in cir
culation of Federal Reserve notes.
A composite statement OF condl-
tions of % regularly reporting banks
showed declines in loans and invest
ments in securities. and increases IN
Reserve balances, cash in vaults ana
both demand and time deposits.
EMPLOYMENT and operation in most
major industries for April we're sat-
isfactory. the report stated. but cot
ton consumption by textile mills was
13 per cent below the figure for April
last year.
Credit Men Will Meet.
Several Washington men are plan
nlIlR 10 dlGCllO IllC 4NoSAOAA~t
Congress to be held in Pittsburgh the
week of June 1921. Brace Bennltt'
convention director, arrived at Pitts
burgh from New York yesterday, and
went into conference with the con-
vention committees of the Credit AS
sociation of Western Pennsylvania,
which will be host TO the 1000 dele
gates expected.
Washingtonisns going to the par
lev will represent the washington
Association of Credit Men, whose
headquarters are in the Munsey
Building.
At Pittsburgh. convention head
quarters have been established in the
William Penn Hotel.
With the exception of the United
States Chamber of Commerce, the
National Association of Credit Men
is the worlds largest business organl-
zation. Its membership includes
some 10000 firms in banking, whole
sailing and manufacturing fields. In
the Pittsburgh area alone there are
approximately 500 members.
The purpose of the organization Is
"to promote wholesome business by
development and maintenance of
sound credit foundation" The firms
which comprise its membership are
banks. manufacturers. wholesalers
and iobbers whose credit departments.
operating in the wholesaling and
manufacturing fields, are not inter-
ested in the credit rating of indi-
viduals, but of other business houses.
Because of the nature of its member
firms activity. the roster of the as
sociation represents a considerable
share of the countrys industrial and
financial power.
Wages to be Maintained.
OF general interest to the country
Is the assurance expressed yesterday
by Alfred P. Sloan. jr.. president of
General Motors Corp, that, following
the recent Supreme Court decision in
validating codes General Motors
plans no material readjustments
downward in the wage scale.
'"rhe highest wage scale is the best
wage scale" declared Sloan, pro-
viding it is not out of balance with
other factors in the national
economy"
Norman E. Towson, assistant treas
urer of the Washington Loan and
Trust Co. who is attending the con-
vention of bankers at Hot Springs,
recently addressed the American
Academy of Political and Social
Science in Philadelphia.
Miss Rose Royce of the Washington
Loan and Trust Co. has sailed on the
s. S. City of Havre from Baltimore
for a months trip to England and
the continent. where she will meet
and return with her sister.