Evening star., 1937-09-24

s, gust alcne was z
per cent better
than last year. Maryland wrote 6
per cent more new business in Au-
gust than a year ago and 7 per cent
in the first eight months of the year.
August policies totaled S7,751 900 and
business to September l, S6S,759,0 900.
Virginia followed Washington's Au-
gust example and sales were 3 per
cent under August, 1886. However,
new policies totaled S7,O74,000. In
the eight months, sales were up IL
per cent, same as the Capital, and
totaled s61,5O3,0O0. West Virginia
pushed business up per cent in Au-
gust, volume reaching s5,246,0O0. For
the eight months, volume was off
per cent.
Washingtons IL per cent gain in
the eight months topped the records
for Boston, Chicago, Cleveland, De-
troit, Los Angeles, New York, Phila-
delphia and st. Louis Detroit's Au-
gust mark was the best, up IA per
cent.
Mrs. Sharpe Section Chairman.
Mrs. Helen R. Sharpe, Bank OF
Commerce & Savings. assumed her
new duties as chairman of the Safe
Deposit Section of the District Bank
ers Association at the first meeting of
the year, last night, in the board
room of the American Security g.
Trust Co. She was secretary of the
section in 1885, vice chairman in
1886. and elected chairman last
Spring, the first woman to occupy
such an office in the District Bank
ers Association.
Mrs. Sharpe is also the first woman
officially to address the association
at its annual convention, having re-
ported for the Safe Deposit Section
She has been very much interested
in banking for several years.
Last nights meeting was largely
attended, there being a general dis
cussion of safe deposit problems.
Other officers of the section are P.
C. Brady, vice chairman: T. E. Elgin,
secretary; Charles w. Haas and
Charles K. West. members of the
Executive Committee.
Transit Earnings Better.
Net income of the Capital Transit
Co. revealed a deficit of S27,74523 in
August, against deficit of S43,242.25
in August, 1886, or an improvement
this year of 5,497O2 and percent
age gain of 35.8, according to the
monthly statement filed with the Pub
lie Utilities Commission this noon.
Operating revenues totaled S847,-
o67.72, an increase of s11,117.O5 over
last year. At the same time operating
expenses required S662, 1872 so, a reduc-
ton in these costs of S32,638.39, and
leaving an operating income of
S2,471.77, up over $4,000 from last
year, or 257 per cent. Deductions for
interest more than wiped out the gain.
Net income for the first eight
months of this year amounted to
S84,e58.60, against a deficit of $685.
2073l.
Shorter Installments Likely.
A different organization, Associated
Retail Credit Men of Washington, has
Just received word from national |
headquarters, in st. Louis, to the ef-
feet that a drive is now being con- |
Quoted against too long term INSTALL |
ment selling, a national committee |
having been appointed to study what !
is called overextension of long-term |
credit. General Manager L. S. Crow
der of the national organization says |
he hopes to see the end If the phrase
"Three years to pay"
Noting that credit often extends be- |
yond the life of the merchandise, |
Manager Crowder warns against credit
competition aimed at increasing sales |
volumes, calling this bad for both
merchant and buyer. He quotes the |
recommendation adopted at the last |
convention, at Spokane, which set the |
following maximum terms on INSTALL |
ment sales:
Electric refrigerators, "a months; |
furniture, 18 months; radios, IL |
months; washing machines, IL months; |
stoves and ranges, 18 months, and |
fur coats, over $500, months.
Crowley Talks on Supervision.
Addressing the Kentucky Bankers
Association at Louisville, Chairman
Leo T. Crowley of the Federal In
surance Corp said:
Most auspicious of the recent de-
velopments affecting bank Supervision
I consider to be the creation of the
Federal Deposit Insurance Corp. By
insuring depositors against loss, the
corporation substitutes itself for the
inarticulate and disorganized millions
of depositors who insist that we shall
have sound banking structure and
that deposits shall not be dissipated.
Il might say further that the goal
of the present-day bank supervision
is not the complete regimentation of
the profession, which so many bankers
seem to fear. Supervisors clearly real
lie the dangers of an autocratic ap-
plication of arbitrary standards to
every banking institution.
I'm the last analysis, bankers them
selves determine the extent to which
their activities must be supervised"
Columbia Votes Dividends.
Directors of the Columbia National
Bank have declared dividend of 50
q share on the capital stock, payable
as follows: $3.50 per share to stock
holders of record September 25, pay
able october /; $1.50 per share to
stockholders of record December "a,
payable January 6, 1888, President
Eropk r Ctrvkor annOuncpd TO-DAY
The meeting was held late yesterday.
Mergenthaler Linotype figured in
several sales at 33 on the Washington
Stock Exchange today and then moved
up to 331a at the close. Washington
Gas IS, 1858, opened at 1862 and
closed at los, while Chevy Chase Club
l4As moved at 104.