Evening star., 1937-04-06
Total -s1,845,348 Sl,791,675


Member banks in the Federal Re-
serve system most frequently charge
their customers per cent for loans,
Reserve Board governors report as the
result of recent survey.
In larger cities rate of 5 per cent
and frequently as low as l a per cent
was charged, but in small cities and
towns country" banks charge 8 per
cent and 10 per cent, according to the
boards study. These rates show a
slight decline from pre-depression
levels. the board said.
The board explained that per cent
was the rate most frequently
charged, that is, on the largest num-
Der of loans. whereas the largest dollar
volume of loans probably is made by
city banks at much lower rates.
Passenger Gains Gratifying.
e. H. Whitlock, general agent in
Washington of the Great Northern
Railway, which has just reported net
earnings in 1886 of 1898 per share,
against S297 a years ago. reports that
officials were especially pleased with
the gains in passenger travel. The
Great Northern was one OF the very
first roads to adopt the lower fares,
coach fares at cents mile and first
class fares at 3 cents. The road was
severely criticized by Eastern rail Of
.f1cials. The results, however. have far
exceeded expectations.
In statement sent to Slauson,
White g. Rowe, Thatcher c. Jones,
economist of Independence Fund of
North America says that the Supreme
Courts valuation of the Washington
State minimum wage act, in which
1t was recognized that the general
welfare OF the public requires pro-
lection of women and children, will
be accepted by the public as a great
boon to this class, which is more or
less defenseless in its bargaining
power. Though higher wages will
raise the cost of production of minor
industries and possibly result in
higher prices for their products, it is
improbable that the results will have
any important bearing on profits or
security values of the great majority
OF companies whose securities are of
general investment interest, the econ
omist adds.
Auto Club Membership Grows.
An increase of 117.6 per cent in
membership of the Keystone Auto
mobile Club during the first three
months Of 1887, as compared with the
corresponding period of last year, is
reported by George E. Keneipp, club
manager, who considers this growth
as a reliable index of the local eco
nomic situation, which he describes
as being remarkably substantial and
showing improvement"
The Keystone executive added that
cit is significant that the gains have
been made from month to month
without a relapse further indication
of the steadiness of the local business
status"
Heard in Financial District.
Robert L. Flather, assistant secre-
tary of the American Security g.
Trust Co., is back at the bank after
an illness of several months. He
received a most cordial greeting and
a big basket of flowers. One of the
city's younger bankers, he has been
chairman of the Advertising Commit
tee of the District Bankers Asso-
citation and served on other ilnpor-
tant committees.
Paul j. Seltzer, president of Wash
ington Chapter, American Institute
of Banking, attended the thirtieth
annual banquet of Essex County
Chapter, A. I. B., at Newark, n. j.,
Saturday night. Special guests were
L. c. Freer of the institutes executive
council Garrett A. Denise, president
New Jersey Bankers Association. and
James M. Pittenger president, Essex
County Bankers Association. The
speaker was James Lee Ellenwood,
State secretary of the New York
Y. M. c. A.
Todays Trading on Exchange.
Washington Railway & Electric
preferred stock sold at 100 on the
Washington Stock Exchange again
TODAY. In the bond division City d
Suburban SIS came out at 81. Among
the stocks now being quoted ex-
dividend are Riggs National common
American Security & Trust and Sc
curity Storage.
National Dairy Products Corp. re-
ports that on March 81, 69,712 in
dividuals, corporations, trusts and
other public institutions held common
stock of the company. This compares
with 69,963 common shareholders on
December 81, 1896, and 70,950 on
March 81, 1886.
President Thomas J. Groom Of the
District Bankers Association reported
today that much enthusiasm Is being
manifested in the annual Spring
dinner to be held at the Columbia
Country Club Wednesday. May 5.
Looks like a capacity attendance,