Evening star., 1936-11-28
NEW RECORDSSEEN
IN POSTAL INCOME
Previous Marks Ec|ipsed by
National Receipts in Past
Five Months.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
Postal revenues during the present
fiscal year bid fair to surpass the peak
of $705 ZOO, 900 established in 1890,
Post Office Department officials an
nounce.
Increasing steadily under the stimu-
1us Of increased business activity, re-
ceipts for the first five fiscal months
have eclipsed previous records.
Reports from the so largest cities
-of the country, tabulated in a memo
randum to Postmaster General Farley.
testify to record breaking increases,
|. which are attributed to an all-time
high of mail order buying, increased
installment buying and generally in
creased activity of retail trade.
Postal officials are looking forward
to a tremendous Christmas business,
probably the greatest since 1929.
So far as Washington alone is
. concerned, the City Post Office re-
Gently reported that October receipts
of $612,949 were far ahead of the
September receipts and also above
October, 1885. The same has been
true of every other month this year,
including the period since the fiscal
year began in July.
Transit Traffic Still Rising.
Reporting for the 10 months Of 1886,
the Capital Transit Co.'S statement to
the Public Utilities Commission shows
that traffic is still advancing in spite
of the long upturn already recorded.
In the first 10 months of the present
r. year the street cars and buses carried
Nal, ,073,553 revenue passengers. This
was a gain of Is 5,376,2 over the like
period in 1885 and 1872 per cent
pickup.
The revenue passenger gain in Oc-
tober alone was also impressive. The
total number Of paying passengers
carried was 15,345, ,10l, which was an
increase Of 1,349,8l7, or 9.6 per cent
greater than the number hauled in
October, 1885. The report indicates
that increased expenses in these two
periods largely wiped out the in
come from increased traffic.
The gain in net income OF ST.
242.S3 in October, over october, 1885,
gave stockholders some encourage
ment but not a great deal. In the
past 10 months operations the COM
pany has lost slightly more than
$3,000-to be exact, $3,085.48. In the
same period last year the company
reported total net earnings of more
than S374,000. November and De-
cember net income will put the transit
company back in the black for the full
year. but not by a very large margin.
SThe higher fare plea is still before
the Public Utilities Commission and
the decision is being anxiously await
ed by the shareholders.
Four Billion for Shopping.
Predictions that Christmas trade
this year will break all volume records
in American history we're confirmed
by a Nationwide survey made by
j. r. Ridgway, president of Investors
Syndicate Minneapolis, and just re-
ceived by the Washington office.
Christmas shoppers" said Mr..
Ridgway. quoting from the survey OF
! holiday income and outgo, will spend
! more than s3,s70,0o0, 900. Retail stores
to handle such a Yuletide trade vol
ume will hire more than 600, 900 extra
workers during the six weeks pre-
ceding Christmas-nearly 100000 dur
ing December. These extra employees
will receive about S35,000,000 IN
wages.
"A gain of about $8,oO0,0o0 900 in
our national income for 1886 over
that of 1885 and the substantial divi-
dend distributions resulting from the
Federal surtax on undivided profits.
ranging from to 81 per cent, are the
two main factors in this record holi-
/. day trade"
= National pay rolls for 1896, based
on bonuses, extra compensation and
wage and salary increases already an
nounced or indicated. will be $685.
900 900 above those of 1885 as re-
suit of higher profits, the report re-
veals.
Forum on Money Planned.
Henry B. Steagall, chairman OF the
House Committee on Banking and
Currency will address the Society for
Stability in Money and Banking IN
New York during forum meeting set
for December 18 and IS. Edmund
Platt. former member of the Federal
Reserve Board, is also on the list, as
Is Thomas c. Boushall, president OF
the Morris Plan Bank at Richmond.
H. Parker Willis, professor of banking
at Columbia, who was formerly con-
nected with the Treasury, will appear
on the program.
President Joseph E. Goodbar also
expects officials from the Treasury to
appear on the program, today's an
nouncement said.
The American Institute of Account
ants has amended its bylaws to admit
all members of the American Society
of Certified Public Accountants as
members of the institute, thus COM
pleting merger of the two organizations
into q single association. Total men,
bership of the merged organization Is
about 4.500. or 1,500 greater than the
membership of the institute.
Heard in Financial District.
Thomas J. Groom, first vice presi-
dent of the District Bankers and vice
president of the Bank of Commerce g.
Savings, says that all the reports on
trade conditions in the Capital, reach
ing the banking fraternity, are Of a
most optimistic nature. He believes
the enthusiastic holiday predictions
will prove true.
l. The Commerce Department reports
that the dollar volume of retail financ-
ing of new passenger automobiles
shows an increase for October Of 80
per cent over last year and 81 per cent
in the first 10 months of this year over
1895.
Winthrop, Mitchell g. Co. is distrib-
4 uting a list of bonds which the firm
y thinks well adapted to present invest
ment conditions. The list includes
railroad, utility, industrial and foreign
securities and includes prices and
yields.
A pronounced industrial boom is sug-