Evening star., 1938-02-05
POSTAL RECEIPTS
RISE IN JANUARY
Revenues at City Office
About ! Per Cent Above
Like 1887 Period.
By EDWARD C. STONE.


of with slight gain over the same
month in 1887, it was learned today.
January postal receipts totaled
1892, 1919, in comparison with $577,-
SOB in January year ago. an in
crease of more than $4,666, or a little
less than per cent. With the excep-
ton of 1896. the January receipts
we're the highest for that month on
record.
Postal receipts include revenues
from the sale of all regular stamps,
special delivery. registered mail, par
eel post, money orders and every other
service offered by the Post Office De-
partment. They are considered a good
barometer Of business conditions and
are always watched closely.
The fact that postal receipts lost
no ground during the month and al
most established an all-time peak in
dicates that business got away to
good 1888 start in the Capital.
Todays statement follows the re-
port few days ago on January bank
clearines in Washington, which re-
vealed modest decrease over Janu-
ary, 1887
Sacks 80 Years Old Today.
Eckert j. Sacks, president of the
Washington Permanent Building Asso-
citation, reached his Goth birthday to-
day and observed the event by holding
closely to his regular routine program.
Born in Cassel, Germany, February
). l848, he came to this country when
Is years old and has been a resident
OF Washington for IS years. He was
one OF the organizers of the building
association, which was chartered on
April IA, 1881, and has been active
IN the organization for 81 years.
For the past IL years he has been
the associations president and has
helped to build up the company's
assets until they now total more than
s9,000,000. He resides at los Chevy
Chase driveway. in Maryland, where
he received many hearty congratula-
tions today. He is enjoying excellent
health
Insurance Chief Honored.
M. Albert Linton, president of the
Provident Mutual Life Insurance Co.
nf Philadelphia, was the guest of hon.
or at breakfast meeting of the WASH
ington agency today at the Hay-Adams
House.
Mr.. Linton commented on the fact
that although there was a general
business decline in the last half of
1887, the Provident had new paid
insurance of s75.872 900, a gain of
$6,685,000 over 1886. Assets were
increased by $15,67O,0O0 to 1881 PA
600. the highest figure in the history
of the company. Insurance in force
showed gain of s18, 10000, advanc-
ing the total to 1851 ,125,000.
Harold D. Kraft. manager of the
washington agency, called attention
to the increased new business in the
District Of Columbia during the past
four months, an increase. of over 100
per cent compared with the corre-
spending months of last year.
Lower Prices Hurt Farmers.
The Federal Reserve Bank of Rich
mond reported today that production
figures for all leading crops in the
fifth district were higher in 1887 than
in 1896. and all crops except Irish
potatoes produced more than the
average for five base years l92S-1932.
Prices, on the other hand, were lower
for most crops in 1897. and cash re-
turns to growers were not in pro-
portion to production figures.
Tobacco was the districts most
profitable crop, due to increased yield
and slightly better prices for the lead
ing type. A larger cotton crop brought
materially lower cash returns. and
the same was true of both Irish and
sweet potatoes. The apple. hay. wheat
and oat crops sold for more than the
1896 crops, but peanuts returned less.
For the first time the Department
Of Agriculture reports cash returns
instead of farm values for 1897 crops.
These new figures show how much
money the growers have with which
to pay expenses of all kinds and to
purchase non-agricultural commod-
tiles. They include Government pay
ments as we'll as money received from
sales, but take no account of products
used on the farms
The Richmond bank reports the
money yield on the corn crop in 1887
as sl0,400,000, against s9.65O.000 in
the previous year. The cotton crop
was valued at s39. 200 900, against $52,-
$4,000 in 1886; tobacco, s2O2, IT'S 1000,
against sl42,842 600: Irish potatoes
$14,600,000 VS.. $27,l00,000: sweet
potatoes. $3,675.000 VS.. s4.475, 900; oats,
1904 900 VS.. $487 900: wheat, $20,45O,-
900 VS.. sl4,960,0o0; hay, SASS 900 VS..
S3,975, 900; peanuts. $13,525, 900 VS..
sl4,110,00o; apples. SIG, 100000 VS.. sl3,-
255,000.
High Spots in District Trade.
Cotton mills in the Fifth Reserve Dis
trict curtailed production in the last
quarter of 1887, but during the year
fifth district mills set new record
for cotton consumption. Tobacco
manufacturing in 1897 exceeded that
of 1886 and did not experience any
serious recession in the fall. the Rich
mond bank reports.
Failures in this district in 1897
totaled 489, against 458 in 1886. At
the same time liabilities for the year
totaled only s4,673,000, against ST.
975,000 In 1896. In December alone
failures increased by 81 per cent over
December. 1896, and liabilities in
creased 48 per cent. The national
averages were not nearly as high
During the calendar year 1897
aggregate debts in the "a reporting
cities totaling SIS, ,892, 900 exceeded
debts totaling sl4.238, ,734,000 in 1886
by 1913 per cent, every reporting city
showing higher figures for the latter
year, the report points out.
harrell Notes Anniversary.
John B. Harrell, president of the
Columbia Building Association, is re-
ceiving hearty congratulations on the
observance today Of his list birthday
anniversary. He is still one of the
leading building and loan figures in
the city.