Evening star., 1938-10-21

May -- 975,559 944 ,45l
June ---- 967,630 95l, ,72e
July --- 885,451 844255
August --- 84O,649 797,83C
September ----- 965,622 899335
Washington Bank Debts Gain.
In response to the general uptrend
of business in the latter part of Sep
,tember, debts to individual accounts
reported by Washington banks for that
month were 4 per cent above the
August figures. There is slight
seasonal gain to be looked for in the
early fall, but the gain in Washington
WAS trifle more than seasonal
. The Standard Statistics Co. index
of Washington bank debts for last
1month is computed at l31 average OF
I920-l924 equals 1000, which compares
with l25 for August
The per cent gain in the debts
Index for Washington in September
compares favorably with the gain of
8 per cent in the index for the entire
United States
Clearings Top Previous Week.
Bank clearings in Washington for
the week ending Wednesday totaled
s24056,07675 as compared with s23,-
863 566.02, gain of $l72, ,510.73. Clear
ings, however, were lower than in the
corresponding week last year, when
they amounted to S25.153 292 so The
weeks clearingS report showed that
Richmond was 33 per cent ahead Of
"a DOLE
more came within 0S per cent of
equaling last years mark.
The annual dinner meeting of the
fiduciaries section of the District
Bankers Association will take place
next Thursday, October 27 1t will be
an unusually important meeting. In
addition to other committee reports,
there will be special report on plans
for trust research week, which will
take place in Washington from No
vember to 9, conducted by Gilbert
T. Stephenson under the auspices of
the American Bankers Association.
George w. White, president of the
National Metropolitan Bank, who is
confined to his home with bronchitis,
is reported to be improving steadily.
He lives at 1900 Upton street NV.
:, Insurance Heads to Convene.
q Julian Price, president of the Jeffer-
son Standard Life Insurance Co.
Greensboro. N. c. will serve as chair
man at the 32d annual convention 0.
the Association of Life Insurance
Presidents. which opens in New York
~,, D1o1r,La~ ~
more than 400 from the United States
and Canada is expected.
Insurance men here are deeply in
sterested in the reports that life in
Surance policies written after January
may contain many changes. A reduc-
ton of interest rates against loans on
policies is anticipated and on funds
left on deposit with the companies
from 3 per cent to 2s per cent. In
.terest on policy loans will be cut from
6 per cent to per cent
Inability to invest net funds and the
low return received on present invest
ments are the chief factors in the
proposed reductions, insurance men
say.
Net Earnings Up 80 Per Cent.
Charles Delmar. president of Lin
coin Service Corp, announces thai
from the auditors report for the nine
month period ended September 30
1888, the net earnings of the corpora
ton show an increase of 30 per cent
plus, as compared with the like period
of 1887 These figures indicate that
the preferred stock dividend is being
earned 81 times, Mr.. Delmar said.
Bond dealers in the financial district
today stated that all quotas of the new
S80,00O,000 issue of Public Service Co
of Northern Illinois 3Rs were sold
very shortly after they were offered
They closed yesterday about point
above the offering price.
There was an equally lively demand
IN Washington for the new Ohio
Power Co. first 3l4s which came out
at 10l1 u. Late yesterday these bonds
were quoted at 1925 bid and 102 Z
asked They are type of bond which
the banks want and are also in strong
demand by private investors. Dealers
say they could sell a great many more
of them than they can get The bond
houses here report very gratifying
pickup recently in their business.
Local Bonds Jump 10 Points.
City g. Suburban IS sold at SO or
the Washington Stock Exchange to-
day, jump of 10 full points since
the last previous sale. A $1,000 bond
changed hands. The bonds closed with
.87 bid and SO asked.
American Security g. Trust Co
stock moved at 247 on the exchange
today. one 10 share and one four share
.lot changing ownership. This was g
gain of points over other recent
sales.
Washington Gas Light preferred
stock was strong again today with 6
small sale being recorded at 100a.
William o. Douglas, chairman o
'the Securities and Exchange Commits
.sion. is being heartily congratulated OF
his selection to receive the 1888 aware
.of the National Association of Ac
.credited Publicity Directors, which vii
be officially presented on November 81
Mr.. Douglas was selected for the awar,
because through his efforts and rul
,ings this year he has given more prom
.inence to the value of adequate an,
accurate publicity than any other pub
lie ofncial or private person." according
to the Conn rnittac 0f Auard