Evening star., 1937-11-15
Month. 1887.

June ------- 51,279,267 5O,372,1O5
July -------- 56,836,381 52,431, 500
August ----- 59,129,528 53,718,863
september - 56,30O,l06 52,309, ,342
October ---- 54,843,575 5l,347,076
Business Men ReOrganize.
Reorganization of the Central Sew
enth Street Business Mems Association
was announced today, following a spe-
clal meeting of majority of the mer-
chants operating retail stores between
G and K streets on Seventh street
NV.
Arthur Meyer of the Goldenberg Co.
is the new president of the association.
Phil Bobys of the Phil Bobys Co. is
vice president. Samuel Schwartz of
Charles Schwartz g. Son is treasurer.
and c. H. Dexter of Berne's Credit,
Inc, is secretary. The new officers are
expected to provide the necessary
stimulus to promote successfully the
associations Christmas program.
Outstanding feature of the Christ
mas plan is revival of the Great
White Way from G to X" the brilliant
Seventh street Christmas lane, with
14-foot decorated trees, thousands of
lights OF all sizes and colors, and great
white pylons at the extremities of the
lane
In addition, radio broadcasts over all
washington stations are planned for
December Participating stores will be
identified by posters prominently on
display. Appropriate ceremonies to be
participated in by District officials
will mark the opening of the Christmas
lane early in December.
O'Connor Cheerful on Banks.
Praising the regulations of the
Federal Reserve Board governing the
purchase of investment securities by
national and State banks, Controller
OF the Currency J. F. T. O'Connor
said to Texas bankers:
1T Is pleasant to note that. not
Withstanding the recent serious de-
cllnes In the security markets, the
banks under the supervision of the
controller of the currency have
not been embarrassed by fluctuations
Of the bond market.
The reports of examinations of
national banks show that since 1888
the banks have been disposing of
their loW-grade issues and reinvest-
Ing their funds in securities of higher
ratings, with result that the bond
portfolios as whole are in sound
and satisfactory condition.
1T is also gratifying to note that
there is an abundance of cash avail
able for extension of credit to busi-
ness and commerce"
Bank Women Arrange Auction.
Members of the Womens Commit
tee of Washington Chapter, American
Institute of Banking, have announced
white elephant" auction party
Wednesday evening at the Iron Gate
Inn. A most unusual program has
been arranged by. Mrs. Myrtle P.
Lewis, Liberty National Bank, chair
man of the committee, assisted by
the following associates:
Naomi De Lozier, Marguerite Det-
terer, Mildred O'Donohugh, Leona
Draeger. Katherine McCalmont Ger
trude Reynolds, Teresa Behabetz,
Ethel Ann Loeb, Anne Crawford, F.
Marian Galleher, Margaret Berckman,
Margaret A. Fisher, Etheline E. Parker,
Constance D. Jones and Vivian Stokes.
Railroad Earnings Reported.
Eighteen class 1 railroads in the
Southern district had estimated oper-
ating revenues in October of S26,155,-
1853, compared with $27,976,2l5 in Oc-
tober. 1886, drop Of 65 per cent
Freight revenues in October
amounted to s22,O45, ,42O, compared
with S23,780,594 in the same month
last year and slump of 73 per cent
Passenger revenues in october totaled
S2163,021, compared with $2,117974
tn October, 1886, making gain of
81 per cent. These 18 roads do so
per cent of the business in their ter
ritory.
Postal Savings Increase.
Tabulations of postal savings over
the past Is months indicate that de-
posits are close to their peak, vary
ing between 60,00O,O00 and ST.
27O.000,OO0 during the past three
months. The present total is about
the same as that for February and
April of this year.
In a recent address before group
; Of the Virginia Bankers Asso-
citation at Harrisonburg. Thomas c.
Boushall. president of the Morris Plan
Bank of Richmond, at Richmond, said
that bankers should familiarize them
selves more closely with the needs
of fhair
munitieS and assume their rightful
role as economic mentors"
Jaul j. Seltzer, president of Wash
ington Chapter, American Institute OF
Banking last year, attended . meet
ing Of six institute chapters at Her
shey, Pa, last week. The chief speak
er was Frank r. Curda of Chicago
new president of the institute Jesse
F.. Wood, vice president of the State
Planters & Trust Co., also spoke.
Congress Draws Attention.
Opening of Congress was the topic
OF much conversation in the broker
age houses here today. The market
- opened higher. contrary to some pre-.
dictions. There is very genera.
opinion expressed in brokerage circle.
to the effect that Congress will try
vigorously to turn the present bushes!
recession into further upturn.
Capital Transit stock held its owr
on the Washington Stock Exchange
today, when five 10-share sales tool
place at 9, unchanged from last week.
close. The new Washington Gas Ligh
preferred stock was strong, selling Al
par today, against close last weel
of 99h.
Rid and asked prices IN other issue,