Evening star., 1936-05-09
POSTAL RECEIPTS
SCORE RAPID RISE
Business Boom Indicated by
Gains in Capital So
Far This Year.
BY EDWARD C. STONE.

RtaUlSUlclanS as the very IlIleSC OdTOIn-
eter of business conditions III any city,
revealed sharp gains in Washington
In April, compared with April, 1885.
Reports from the City Post once
show that postal receipts here totaled
1884 ,83739 in April in comparison
with S54l, ,295. Al in the corresponding
month a year ago, Jump OF $93, ,54l .9S.
Receipts in the Capital in April
we're also well ahead of the total
business in March this year when
postal income amounted to $601 OFT.
Business in the Capital must also have
been far better than in April two
years ago and three years ago when
receipts were much lower than they
were this year.
Still more impressive are the figures
for the first four months of 1886
against the same months in 1885.
Receipts at the City Post totaled
S2.426,512 against s2161.374 year
ago, an increase SO far this year of
S465,138
Business is certainly humming in
the Capital commented Post ONCE
Official today as he studied the figures.
mo mistake about that"
Fire Insurance Rates Lower.
Lowering of fire insurance rates,
where new waterworks systems have
been built by the Public Works Ad-
ministration, has just been announced
by Harold L. Ickes.
P. W. A. has completed waterworks
in % cities or towns in South Carolina
and because of this public fire pro-
lection the insurnce rates on brick
mercantile buildings dropped "a per
cent and on mercantile frame build
ings 10 per cent. The reduction on
brick dwellings insurance cost in these
communities was 43 per cent and
36 per cent on frame homes.
In West Virginia, IL towns have
new P. W. A. waterworks and even
where the fire equipment has not
been added to the new water system,
rates have been substantially cut in all
cases. The reduction on mercantile
buildings insurance is "a per cent
for the brick construction and Is
per cent for the frame. Owners Of
brick residences in these dozen COM
munities enjoy a reduction of 46
per cent in their fire insurance pre-
miums while the owners of the frame
houses have a 43 per cent lower rate.
Virginia Bank Assets Up.
Aggregate resources of the insured
commercial banks in Virginia stood
at 1888 ,597 900 on December 81, 1885,
according to the Federal Deposit In
surance Corp. Assets represented an
increase of 10 per cent over the
figure shown on December 81. 1884.
OF the assets reported at the end
Of 1885, Sl67 10000 were being held
in cash. as cash items in process
of collection or as balances with other
banks S25,210000 was shown to be
invested in securities fully guaranteed
by the United States Government and
S55,743,000 in United States obli-
cations.
Total deposits were $500, 1877 900,
an increase of 13 per cent during
the year. On December 81, 1885, de-
mand deposits were S210,149, 900 and
time deposits 1923, 1920, ,000
Banks Buy $1,000 Bonds.
Banks and trust companies bought
approximately 21O00 of Treasury's
"baby bonds" having maturity value
of s15,715,35O during the first 10
months they were on sale, Secretary
Morgenthau announced.
Total number of baby bonds"
officially known as saving bonds that
were sold between March l and
December 81, 1885, was 1,022,750.
They have maturity value of $27l,-
B42,525.
Approximately 70 per cent of bonds
sold during the first 10 months were
in denominations of s100 or less.
Numbers sold in each denomination
were S25 bonds, 217.101; $50, 161 .878;
500, 356.3O1; $500, 129,576; $1,000
bonds, 157,9O3
Transit Income Analysed.
Comparison of the first quarter
earnings of the Capital Transit Co.,
in the past three years show that
operating revenues totaled $20l1.823
in 1884, $2,l98,679 in 1885 and S2,462,-
ASP in 1886.
At the same time operating expenses
mounted steadily, being S1,312,782 in
1884, 81, ,598, $50 in 1895 and 81 ,996. All
in 1886. The first quarter of 1886
included s16O,0OO for wages not paid
in 1885 and $93,74l more depreciation
that was charged of during 1885 in
the first quarter.
The manner in which operating
expenses cut into net earnings is
brought out by the net income sum-
mary which shows a total profit of
$275,522 in 1884. $162,815 in 1885
and deficit of s84,663 in 1886.
The figures reflect a state of affairs
that cannot go on forever and prob
ably account for the hints heard in
the financial district that the COM
pany may ask for an increase in
fares before long.