Evening star., 1937-12-15

md predictions are that it will remain
until Santa Claus comes for his an
lual visit and returns to the North
'ole.
Today's report that postal returns
re running 10 per cent ahead of last
ear follows the announcement earlier
the week that express business at
hat time was per cent better than
asst year.
Both favorable reports follow the
tatement from the Department of
commerce that retail trade In WASH
1gton last week was more than IS
9er cent ahead of the previous week
nd slightly better than in the same
week in December year ago.
If further evidence of the holiday
''ush is desired one need only to visit
he stores. The throngs of Christmas
hoppers are not lust looking" they
re buying goods as fast as the clerks
an wrap them up. And that's very
asst. Right nov trade is on a rampage
MalIonee Joins ID. c. Firm.
E. j. Mallonee. formerly head of the
Washington office of the First Boston
Corp. has become associated with
'olger, Nolan g. Co, investment bank
lg firm and Washington CORE
'pondent OF Kidder, Peabody & Co.
was announced in the financial dis
rict today. The local firm. organized
n 1881, has Offices in the American
'jecurity Building.
Mr.. Mallonee, native of Baltimore.
TENDED the schools in that city and
ater the Baltimore Polytechnic Insti-
ute. For the past 10 years he has
cen connected with the First Boston
Corp. as manager of the Wash
1gton office and later co-manager of
he Baltimore Office, which position he
sresigning to assume his new connec-
ion.
Mr.. Mallonee has been active in in
titutional investment business, spe-
ializlng in Government. municipal
nd corporate issues He is a member
Vt the Bond Clubs ot Washington and
Baltimore. and is well known in Viz
;inia and North Carolina,
Loan Assccis tons Grow.
There s7e IL savings, building and
osn assoclsnorls, members Of the
United States Building ans Loan
-essue, which t.se assets o. more thar,
S 900 900 or J11v l.. this wear.
F1ty---as II these assncMtI3-ls. -
epo-IS Seo-eas-y Z ?. Ceilsrtus. in
--eaec tas.- ASSES oerwaen Jan uA--y
and July 'onpa-eo With q IN ths pre-
7eding six months The gam regis
cred by the So totsleo s23 .o5s.9I7,
.hree of them adding $4,000 900 or
more each"
OF the group Of larger institutions,
whose resources now total sl,098, 1885,
l6l and constitute nearly one-fifth of
he assets of the thrift and home
financing business, thirty-four have
more than $lo,000,o00 and eight top
$40 1000, 900. the report states.
More Firms Declare Bonuses.
Directors of the Union Trust Co.
lave declared a Christmas bonus of
ane-half months pay for all employees
If the bank, President Ord Preston an
aounced today. The payment will be
disbursed shortly
Employees of w B. Hibbs g. Co.,
Washington brokerage firm, will re-
ceive Christmas bonus of a full
months pay, W. w. Spaid, senior
partner, announced today, this being
the first brokerage house in the city
to report holiday distribution.
National Investors Corp. (Maryland)
has voted dividend of II cents ap-
proximately equal to the cash dividend
income less expenses and irrespective
OF security profits or losses for the six
months ending December 81, 1887.
Several Washington banks have put
their Christmas decorations in the
lobbies, carrying out the spirit of the
season and giving them a very colorful
and attractive appearance.
Southern Adopts Stock Plan.
An adjourned session at Richmond
OF annual meeting of stockholders of
Southern Railway Co. approved res
olution authorizing proposed amend
ment to charter providing for issue of
common stock without par value and
exchange share for share for the exist
ing common stock.
In approval were voted 4l9,7l3
shares, or 69.95 per cent of preferred
stock. and 892,042 shares, or 6s.71 per
cent OF common stock, or total of -
Sl1.755 shares, or 69.1 per cent of total
stock of company outstanding and
having voting power. Total number
OF shares voted in opposition was 1.165
shares Of both classes.
Morris Plan Bank of Virginia di-
fectors have approved an increase in
common stock account to 5000 900,
from 100000, with holders of COM
mon to receive additional one-half
share for each share now held. This
step is preliminary to retirement of
preferred stock.
Heard in Financial District.
Many regrets were heard in the
financial district over the death of
w. j. Harahan, president of the Ches-
apeake g. Ohio Railroad. He had many
personal friends in the Capital and
was very highly regarded as one of the
leading railroad officials of the coun-
try.
The Federal Reserve Advisory Coun-
ell held its final meeting for 1887 yes
terday. No report of the meeting was
given out, other than an unofficial
statement that "the state of the Ma
ton" was discussed. Gov. Eccles, how
ever. is advising business men to start
buying at once for their 1888 needs.
Washington Railway e. Electric
preferred stock again sold at 10s
on the Washington Stock Exchange
today. Washington Gas Light pre-
ferred also appeared on the board
. small transfer taking place at 98N
Other bid and asked prices were
practically unchanged.
The Interstate Commerce Commits
sion today extended to 1852 the ma
turity date Of $3.100,000 of first mort
gage god bonds Of the Cherokee &