Evening star., 1936-04-07

clearings as
yardstick for ..
measuring busi- w. D "e'"''
ness conditions, the Capital recorded
a Jump of SAT, ,735, ,06702 over the first
three months in 1885 and a gain in
March alone of we'll over $4,000 600.
Retail trade, as reported by the Rich
mond Reserve Bank, revealed notable
advances in January and February
over the 1885 returns, while the weekly
reports from the Department of Com
merce covering March showed about
the same gains, indicating clearly that
trade in the early part Of the third
quarter is sure to hold up well.
Post office receipts in the first quar-
ter scored excellent gains over the
first three months of 1885 and there
is no evidence at present that these
comparisons will not remain favorable
in the quarter now getting under way.
The same optimism is reflected in the
latest reports from the Chesapeake &
Potomac Telephone Co. on telephone
calls and new installations. Electrical
output, as recorded by the Potomac
Electric Power Co., is another ba-
rometer that is maintaining an upward
trend of considerable proportions.
Perhaps the best indication that
trade will hold up to very high levels
in the next three months is the fact
that no important changes in the huge
Government pay roll in the Capital are
anywhere in sight. That means the
stores will continue to enjoy a con-
slant rush of buyers that will keep
goods moving at a rate meaning
nothing but prosperity for the first
half of 1886. If further evidence were
needed, it might be recalled that de-
posts in the banks here are now the
highest on record and that business
on the Washington Stock Exchange
was far and away ahead of the first
three months of 1885. with no indi-
cations of any let-up before the Sum-
mer lull.
Hecht rendered an Ovation.
That r. S. Hecht, last years presi-
dent of the American Bankers ASso-
citation, is still very popular financier
is indicated in echoes reaching here
from the recent regional banking con-
ference at Memphis. When he ap-
peared on the platform he was given
a tremendous burst of applause. The
ovation showed that financiers have
not forgotten the brilliant service he
rendered the association a year ago
in a time when some new banking
problem arose nearly every day.
The attendance of more than 600
bankers at Memphis is believed to
show an awakening of interest among
financiers in the assumption of lead
ership in their own communities. To
President Fleming is being given un-
stinted credit for the signal success
of the two-day conclave. AS pres1d-
ing officer he brought up many timely
questions which resulted in some un-
usually interesting discussions from
the floor.
Gas Hearing Dates Set.
The Securities and Exchange Com
mission has set April 9 for hearing
an application of six utility companies
for exemption under the utility act.
The companies are Washington Gas
Light Co., Georgetown Gas Light Co.,
Washington Gas Light Co. of Mary
land, Georgetown Gas Light Co. of
Maryland, Rosslyn Gas Light Co. and
Prince Georges Gas Light Corp.
On the same date the commission
also will hold a hearing on the appli-
cation of Washington Gas Light Co.
for approval of acquisition of certain
securities of its subsidiaries.
Security Savings % Years Old.
Officers of the Security Savings &
Commercial Bank, Ninth and G
streets, and at the K street branch
were observing the twenty-third ami
versary today, looking back on an
unusually successful two decades and
forward to continued growth. De-
posits on the last call, March 4, 1886,
totaled S6,603 ,880.68, with total re-
sources standing at S7.490,770.77. The
banks present personnel includes
Julius I. Peyser, who was one OF
the founders and is now chairman OF
the Board of Directors.
The other officer are: Francis G.
Addison, jr, president; Fred Mckee,
vice president; T. Hunton Leith,
cashier; J. o. Lehman, assistant
cashier; Latrobe Owen, assistant
cashier; Joseph L. Shipley, assistant
cashier. and Charles K. West, branch
manager.
The Board of Directors is composed
of Mr.. Addison, Dion S. Birney, Fran
els A. Blundon, Diller F. Croft, Ben
jamin H. Gruver, John B. Harrell,
George E. Judd, Fred Mckee, julius
I. Peyser, Stacy M. Reed, Morris ST.
mon, William W. Spalding, Milton
Strasburger and William C. Sullivan.
Investment Firm Formed Here.
Frank M. Hall, William L. Peters
and Samuel z. Bryson, jr., former
representatives of Graham Parsons
& Co., have formed partnership to
conduct an investment business of
their own, retaining offices in the
Southern Building. Mr.. Hall has been
manager of the Graham, Parsons
office since 1928. The two other
members of the new firm had been
with the old one almost the same
length of time, considerably more than
10 years. They will carry on a gen.
eral investment business under the
firm name of Hall, Peters & Bryson.
Mergenthaler Remains at az.
The largest transaction on the
Washington Stock Exchange today
was in Mergenthaler Linotype stock
when 100 shares changed hands at
AZ, same as yesterdays sales. 1t sold
in Boston yesterday at 43h.
Potomac Electric Power per cent
preferred moved today at Ill on two
small lot transfers Washington Rail-
way g. Electric preferred also came
out at Ill on a 30-share turr. over.
A single share of American Secur-
ity g. Trust Co. stock appeared on
the board at 265.
In the bond division Capital Trac-
ton SIS opened at 901a on a $500 sale
apd closed with a "a 600 transaction