Evening star., 1937-03-09
RECEIPTS
ABOVE YEAR AGO
$581,89 Total in Month Is
$3,895 Larger Than for
1886 Period.
BY EDWARD Z. STONE.

Further evidence of steadily mount
ing business improvement in the Ma
tional Capital came to light today
with the report of February receipts
at the city post office.
Postal revenues totaled $58l ,899.Sl,
compared with s578,005 in the cor
responding month last year, gain
of only s3,8958l. but sufficient to show
that the business trend in Washington
is still upward. The figures compare
with the lower total of $499,86 in
February, 1885, and s426,93l in that
month in 1884
Post office receipts were also con-
siderably ahead of the Janary total
this year. which amounted to S577,5O3.
With the exception of January, postal
receipts for many months have been
ahead of the corresponding periods in
the previous year, the advances IN
November and December being par
ticularly notable.
Postal receipts are rated as one of
the best indices of business condi-
tions and trends. The income is made
up of money paid in for regular letter
service, special delivery stamps, air
mail shipments, money orders, parcel
post and registered mail. The yearly
total for this city, reported at the end
O! the Governments fiscal year in
June, will far outstrip the previous
year Judging by the eight months
totals already on the books.
Wholesale Trade Still Rising.
The value of wholesale trade in
creased substantially in January, 1887.
from January. 1886, and collections
or accounts receivable were made at
slightly higher rate over this period,
according to the National Association
of Credit Men and the Bureau of For
eign and Domestic Commerce.
Total net sales of 1904 reporting
wholesalers increased Is per cent in
January. 1887, from January, 1886.
continuation of a change recorded
for every month of 1886 over the cor
responding month of 1885. Without
adjustment for seasonal influences,
January, 1887, sales registered de-
crease of about per cent from De-
cember of last year.
All of the wholesale trade groups
shown in this report, excepting farm
products and tobacco products, had
increased sales in January this year
over the same month last year, with
durable and semi-durable goods show
ing the most favorable improvement.
The increase ranged from 5.4 per
cent for groceries and foods to 50.4
per cent for metals.
Land Banks Cut Farm Holdings.
In the six months ended February
the Federal Land Banks sold more
farms than they took over, thus de-
creasing their real estate holdings Tor
the first time since the beginning OF
the depression, according to a state
ment by Governor w. I Myers of the
Farm Credit Administration. He said
the Federal Land Banks were far from
being the largest holders Of farm
real estate.
The number of farms owned out
right by the Land Banks reached a
peak of 24355 on August 81, 1886. but
declined to 22,505 on February l this
year. Farm real estate owned was
carried on the books of the Federal
Land Banks at s78,2OO,o00 on August
81. 1886 On February the amount
was S73,50o0OO
Insurance Firm Hast Big Year.
Bradford H. Walker. president of
the Life Insurance Co. Of Virginia,
at Richmond, reports in his annual
statement that total insurance in force
on December 81, 1886, was $440,095,-
757, a gain for the year of S23 1881 ,155.
During the year assets were in
creased by s5,763,454 and stood on
December 81 at s88,905,77l. On the
same date total capital, surplus and
contingent reserve amounted to SIS
e45,39O, President Walker stated.
Since organization 66 years ago the
Virginia insurance concern has made
total payments under policy contracts
of S109,654,385, the presidents report
diScloses.
A E. Call and F. X Callahan, rep
resentatives for Washington and vicin-
ity. state that business in their ter
ritory was excellent during the year.
rejecting the general prosperity pre-
yailing.
Peoples Drug Stock Advances.
Peoples Drug Stores common stock
gained ~ points on the New York
Stock Exchange yesterday, closing at
6212 About this time a year ago
this stock was selling around 80. The
last sale on the Washington Stock
Exchange was registered at 497s. The
preferred stock gained l5s points in
New York yesterday, closing at 1l6.
Yesterdays advances were probably
due to the Peoples Drug Stores
monthly report for February, just
announced, which shows that sales
totaled $l,758,277, against s1,651 ,507
in February, 1886, a gain of s106,770,
or ga per cent Sales for the first
two months of 1887 amounted to S3,-
556,317, compared with $3,259,5 in
the like period of 1886, an increase
of $296,728 or 81 per cent. January
sales showed an increase of 114 per
cent over January. 1886.
Bankers to Debate Richmond.
The debate team of Washington
Chapter, American Institute of Bank
ing, will meet Richmond Chapter in
the Old Dominion capital next Satur-
day night. taking the negative side OF
Resolved, That the Government
should develop and control the chief
sources of hydroelectric power" The
debaters are Thomas Cronin, Munsey
Trust Co., and William Russ. City
Bank, with L. Harry Rider, National
Metropolitan, as alternate.
DR.. Elmer L. Keyser of George
Washington University has beer
coaching the team. A large delega.
ton is planning to go to Richmond
The Debate Committee consists of A
Stanley Wolfe, Riggs National, chair