Evening star., 1937-02-05
POSTAL RECEIPTS
BELOW YEAR AGO
January Total at $577,5O3
Against $612,593 for
Same 1896 Month.
BY EDWARD c. STONE.

year ago, or drop OF S30,U9U, IL was
learned from the monthly report today.
This was the first time in many
months that postal receipts were lower
than in the corresponding month ia
the previous year. The report follows
the December figure of $928.34 when
postal revenues were the highest for
any month in the history of the
Capital
While postal receipts are always
studied for their value as barometer
Of business conditions too mucn
weight cannot be placed in the Janu-
AIRY returns in view of the fact that
bank clearingS in Washington started
off the year 1887 at s100562. .083, tnc
best January returns of any year
since 1881
Post Office revenues were we'll ahead
Of January, 1885. when they stood at
S536,940, and far above the January.
1884, results when receipts amounted
to S488,062. January receipts this
year were better than in January,
1880. shortly after the Wall Street
crash. when they totaled S532,77l. In
1881 they totaled s497.5O6. in 1882.
$497,899, and "a 1888, s459.256.
Corby's Death Great Shock.
The financial district was greatly
shocked over the sudden death of Karl
w. Corby yesterday at Miami. Fla
Tributes to him today were universal
He was a great favorite and one of the
best known younger financiers in the
Capital, only 43 years old.
The District Bankers Association
has lost very able president. He was
deeply interested in the organization
and was looking forward to splendid
convention next May. First Vice
President Thomas j. Groom, acting
head of the organization during Mr.
Corby's illness, paid him a glowing
tribute today, adjourned the.usual Fri
day luncheon and called special
meeting of the Council of Administra-
ton to take action on his death.
w. w. Spaid and J. Thilman Hen
drick, his partners in w. B. Hibbs g.
Co, expressed feeling of their great
personal loss today. at the same time
praising his exceptional business abil-
ity. At the Riggs National Bank.
row was voiced, while his associates on
the Washington Stock Exchange
shared similar grief. His unexpected
death is partially explained when it is
recalled that both his father and his
uncle died of heart trouble OF SIM
liar nature. He leaves vacancy in
the financial district and the whole
community which will be hard to fill.
The regular session of the Washing
ton Stock Exchange was adjourned
this noon out Of respect to his memory.
Union Trust Scores Gains.
In his annual report just off the
press. Ord Preston, president OF the
Union Trust Co.. says that the year
1886 evidenced a marked improve
ment in business conditions through
out the country and that the prospect
of a continuance of this same general
trend is encouraging. He reports en-
couraging progress in building up the
profit and loss balance, the aim being
to increase reserves to a point when
resumption of dividend payments may
be prudently considered, and once be-
gun, continued on a conservative
basis"
The trust company became a men,
ber of the Federal Reserve System
during the year, notice was taken OF
the fact that double liability on bank
stocks ends on July l. 1887, and de-
posits made very substantial gains
during the year. It was an excellent
year in all departments. the report
says.
The report includes a comparative
statement of assets and liabilities
which shows that these items stood at
$l0.e27,155 in 1884. s12,439,6l3 in
1885 and s13.496,743 in 1886.
Insurance Firm Notes Gains.
A gain of s6,606,0l4 during 1886
brought its total assets up to record
high of sl15.737,356. reports the
Guardian Life Insurance Co. of
America in its seventy-seventh annual
statement to policyholders. made pub
lie today. The total income of the
rompany last year amounted to
s2s,137.528. exceeding disbursements
by s7,22o,19l.
New life insurance paid for in 1896
totaled $40. .9S5 ,960 an increase OF
1873 per cent over the preceding year.
The average policy sold by the COM
pany increased 8.6 per cent in 1886
and preference for higher premium
forms of policies resulted in an in
crease of rs per cent in the average
premium per $1,000 of insurance.
Total life insurance in force with
the company on December 81, 1886,
amounted to s464.931,5l4 showing a
net gain Of $9,582,24O during the year.
r w. Griswold is manager of the
Washington office.
will Attend A. I. B. Banquet.
Paul j. Seltzer of the American
Security & Trust Co., president, and
William H. Laughlin of the WASH
ington Loan & Trust Co, first vice
president of Washington Chapter,
American Institute of Banking, will
be official representatives of Washing
ton CHAPTER at the annual banquet
of New York Chapter tomorrow night.
other Washington bankers who will
attend the New York banquet include;
Hilleary G. Hoskinson and Earl Amlck,
vice preSldenLS, anu 1. y. nooei' - anu
D. j. Callahan. assistant cashiers,
Riggs National Bank; w. j. Waller
and Warren r. Forester, vice presi-
dents of the Hamilton National Bank;
Frederick P. H. Siddons. secretary.
and James C. Dulin, jr, treasurer,
American Security g. Trust Co., and
S. William Miller, treasurer, Union
Trust Co.
Heard in Financial District.
John B. Harrell. president Of the
Columbia Building Association, was
celebrating his 10th birthday ami
versary today. receiving host OF con-
gratulations from friends. He was
born in Suffolk, Va, came to Wash
ington in 1898, and was very sue
cessful in real estate and insurance