Evening star., 1936-04-13

much better than ~s&s's"~ ~ ss@ssssSaaAss%
the summary tor George L. starkey.
the first three
months of 1884 and in 1888, indi-
eating steady business progress in the
Capital during the past four years.
The figures for March show total
postal receipts of S60l ,07744 as COM
pared with S5S4,264 in March, 1885,
a gain of S16,S30 While this is not
as large as in January and February,
1t maintains the upward trend.
To further stress the business ad-
vances made in the Capital during
the past three months it is only nee
essary to call attention to the fact
that bank clearings in the first quar-
ter reached S25l $40 950.44, a gain of
S46.734,076 over the same three
months IN 1885, and that department
store strade for the three months was
IA per cent ahead of last year and
almost u per cent higher in March
alone.
Starkey Observes Anniversary.
George L. Starkey, president of the
EdIlOQdl bdIlh VI w OD-
served another birthday anniversary
today and was congratulated by many
friends who happened to know about
It. The veteran f1nancier has been
connected with the National Bank of
Washington more than Al years,
starting as a messenger as all bankers
dio i'll those days.
"a
been a member of the Clearing House
Executive Committee. which exercises
very important authority over the
member banks. as well as valuable
guidance. A native of the Capital,
he resides on Michigan avenue, his
home being surrounded by spacious
gardens and grounds. He has some
of the finest sheep in this section OF
the country.
Reverting to his anniversary. 1t is
worthy of note that Thomas Jefferson
and Napoleon Bonaparte were horn
on the same day. But not the same
year, he hastens to state.
Reese Insurance Speaker.
Joseph H. Reese of the Penn Mu-
utal, who will be the guest speaker at
the April luncheon of the District
Life Underwriters Association next
Thursday at the Willard, will talk on
"Organizing for More Business" Pres
Ident J. E. McCombs said today. He
holds an unusual production record.
At the same meeting three cand1-
dates will be nominated for election
to the board of directors for next year.
John P. Lynch, chairman of the Com
n,ittee on Life Insurance Week, will
report on the preliminary plans.
1t was reported today by the Dis
trict of Columbia Building g. Loan
League that the building associations
here loaned in excess of s4,600.000 in
the first quarter of 1886, approxi-
nately Sl,O0000O more than in the
first three months of 1885 and SO per
cent above the 1884 record.
Square d Stocks Distributed.
Square D Co. announced today that
arrangements had been made to carry
out the plan recently voted by the
stockholders and directors calling for
the exchange of three shares of class
B non-par value common stock for
each share of such stock outstanding
by the issuance of two additional
shares for each share now held. The
additional shares will be mailed at
once to stockholders of record April l.
The class B stock has been listed
on the New York Stock Exchange and
trading commenced in it Saturday.
the Washington office reports.
Store Collie ctions Step Up.
Open-credit accounts receivable Of
department stores we're paid at a
higher rate in February, 1886. than in
February, 1885. but under the rate in
January this year. according to the
Bureau of Foreign and Domestic Com
n1erce. The collection figures on these
accounts were 444 per cent for Febru-
Rry and 46.9 per cent for January this
year and 4l.6 per cent for February,
1885
Payments on installment- t-credit ac-
counts receivable we're made at a
slightly higher rate in February, 1886,
than in both February, 1885, and jan
uary. 1886, the change from January
to February this year being of a con-
tra-seaSonal character.
Financial District Gossip.
Members of the District Bankers
Association received cards today from
ORD Preston, General Convention
Committee chairman, announcing the
next convention dates as May %, 90,
80 and 81, and asking bankers to con-
slider these dates when they are con-
sidering Decoration day plans
A l0-told increase in yearly volume
of new home loans made and gain of
almost 700 per cent in annual volume
of investment in their shares by the
public is shown in recent survey of
progress of 81 old-esta blished savings,
building and loan associations con-
verted to Fedora. charter, the April
Federal Home Loan Bank Review says
Trading on d. C. Exchange.
American Security & Trust Co. stock
opened the weeks trading on the
Washington Stock Exchange today
with six shares selling at 265. un-
changed from the last sale last week
and not far from the high for the
year.
Washington Gas SIS, 1858, furnished
the only other sale of the day. $1,000
changing ownership at 106, up half
point over the last previous sale. Bid
and asked prices on other issues we're
practically unchanged. Mergenthaler
closed with AZ bid and 43 y asked. 1t
sold in Boston Saturday at Az.
Morgan Stanley & Co.. Inc, will
head the underwriting group for the
$30,000,000 3A per cent bonds of
Pacific Telephone & Telegraph Co.,
according to an amendment filed by
the company with the Securities and |
Exchange Commission. The under |
writer will take 100000 of the issue. |