Evening star., 1937-02-02

as tribute to Mr.. Knewson and also
to Alfred L. Aiken, recently elected
president of the company. The total
volume of business during the month
included 279 applications for S755,994
new business. Those producing the
largest amount were c. E. Tuckton,
David SamakoW, G. E. Long, Miss
j. M. Woods, w. A. King, Jack
Murphy, G. L. Stabler, M. J. Williams,
G. H. Reisinger and Kenneth Downs.
Several out-of-town New York Life
officials were present. Arthur M.
Miner presided as toastmaster.
Rural Sales Best in East.
Daily average sales in small towns
and rural areas for December showed
a larger increase in the East than in
other parts of the country, as COM
pared with December, 1885 Esti-
mates of the Bureau of Foreign and
Domestic Commerce, based on dollar
value of rural chain store and mail
order sales, indicate that sales in the
East were 2312 per cent above De-
Cember Of last year, as compared with
for the country as a whole.
Total sales for the year 1886 as COM
pared with 1885 showed the largest
relative increase in the South, with a
gain OF 1872 per cent. However, gains
in the East and the Far West were
only fractionally below this, while an
Increase of 1912 per cent was recorded
Tor the Middle West.
Trade Drop Held Temporary.
The tempo of trade and industrial
activity is now slower. says the United
Business Service in its current report.
The curtailment is due to strikes,
floods. slackened buying caused by
price increases and the building up of
inventories in the fourth quarter of
1896. Further declines are expected
over the coming weeks, but aggregate
volume will probably continue well
above a year earlier throughout the
first quarter.
The service concludes that another
setback in the recovery trend is under
way, the fifth since the depression
climax in 1888. 1t points out that
the upward course of industry has
been interrupted by recession in each
OF the past four years. These correc-
tions have helped to iron out the mall
adjustments created in the previous
period of advance.
There are no indications yet that
recovery is approaching climax.
Forces of revival are still predominant,
the survey concludes.
Bank Renders Flood Aid.
The Federal Reserve Bank Of st.
Louis has taken over ali functions of
the Louisville Branch, according to
word received here today from the
Federal Reserve Bank of Richmond.
All banks are requested to route items
10 st. Louis which would be sent to
Louisville in normal times.
Karl w. Corby, president of the
District Bankers Association and
partner in w. B. Hibbs &, Co., has
gone to Florida to remain for the rest
of the resort season. During his abb
eence Vice President Thomas J.
Groom will take charge Of the asso-
eiation's affairs.
T. Stanley Hollard, trust officer, and
Frank M. Perley. trust investment
officer, of the American Security g.
Trust Co., are expecting to attend
the Midwinter trust conference in New
York February to II. F. P. H. Sid
dons, secretary, will attend the an
nual dinner.
Trading Lively on Exchange.
Trading on the Washington Stock
Exchange today was the liveliest in
several weeks, with prices strong.
Washington Gas IS. 1860. sold at 1875.
Capital Traction was in demand.
opening at 15ss, dropping Il and
closing at 12.
Mergenthaler Linotype was one of
the most active issues on the board,
selling at 81. Riggs National Bank
common changed hands at 355 and
Peoples Drug Stores preferred came
out at 1l6.
Apollo Steel Co.-1936 ommon
sbera earnings uere S1 IN against