Evening star., 1938-01-07

pubic schools OF Scotland. From there
he went to Canada and attended Nc
Gill University in Montreal and
Queens University at Kingston, On
tario. Discharged from the Canadian
overseas forces at the end of the
World War, he obtained a scholarship
and studied at Edinburgh University
Appointed a full professor of eco
nomics in Washburn College. Topeka
Kans., in 1921. he remained there un-
til recently when he got leave of alb
sence to serve the Institute of Bank
ing. He was an instructor in the Kan
sas City and st. Joseph's chapters anc
has addressed several institute con-
ventions.
Bank Association Moves Here.
The Morris Plan Bankers Associa-
tion, after being located in Richmond
since 1885, will establish national head
quarters in Washington on January
Is, with Executive Secretary Joseph
E. Birnie in charge. it was announced
today by Ralph w. Pitman of Phila-
delphia, association president. The
ington Building.
In commenting on the move, Mr..
Pitman stated that for some time it
had been felt that the best interests
OF the association could be served by
he establishment of permanent, ma
tional headquarters in the Nations
Capital. and that the move at this
time represents the consummation of
policy determined upon several
months ago.
1t was also announced that the Nor
ris Plan Bankers Association. which
Is the national organization through
which the activities of Morris Plan
Banks throughout the United States
are co-ordinated, would considerably
enlarge and expand its functions
Mr.. Birnie, the executive secretary,
Is the author of numerous articles and
addresses on banking subjects, is an
alumnus of Washington and Lee Uni
verslty, member of the Common
wealth Club of Richmond and the
Country Club of Virginia
Virginia made the best showing in
the fifth Federal district in construc-
ton contracts awarded in November
the Richmond Reserve Bank an
nounces. Virginia's contracts had a
value of S5,l79, 500. gain of 46.3 per
cent over the s3,539.8OO awarded in
November, 1886.
Maryland contracts totaled S3,749,-
200, a decrease of II per cent The
value OF contracts awarded in the Dis
trict of Columbia amounted to s2,436.-
300, a drop of 40 per cent from the
previous year
West Virginia construction contract
values showed decline of Is per cent
and North Carolina was down IA per
cent. South Carolina, however, scored
. gain of 15.4 per cent.
Contracts awarded in the whole
NTH district were 65 per cent lower
tahn a year ago. totaling S19,578 TOO
Only 13 of 81 cities reported higher
figures for November over the same
month in 1886.
hHSH LAptHSeS feUute Net.
Operating revenues of the Chesa-
peake g. Potomac Telephone Co. in the
first IL months of 1887 totaled Slo.-
1912. against the lower figure of
1881 $50 in the like period in 1886.
The gain in operating revenues was
reduced by increases in operating ex-
penses which totaled S7,354,839 in
1887 and only s6.89O.84 in the COM
parable months in 1885, Operating
taxes required S899,291. against S8O4.-
l93 IN the previous year, leaving net
operating income of Sl911,652, as
compared with s1,9365S9 in the same
period in 1886.
Interest deductions totaled S239.44O,
against the lower figure of $i66.332 in
the IL months in 1886 and leaving a
net income of S1717.349 in comparison
with sl,831, ,OS5 for the previous year, a
decrease of S114O36.
The report filed with the Public
Utilities Commission showed. total
OF 273,930,00 calls in the II months
in 1887, against 254,12l,0 900 in 1896.
indicating marked gains in the city's
business activity.
Peoples Drug Store Sales Tn.
Net sales of Peoples Drug Stores,
Inc. for December totaled S2,426.9
an increase of Sl8,899 over December.
1885. or gain of 0.8 pei cent For
the full II months sales amounted to
$22 ,428, ,658, an increase of Sl,3O7.1O5.
or 81 per cent, over the year 1896, it
was reported at the head Office of the
chain system here today.
Insurance Officers Reelected.
At the annual meeting of the Fire
mems Insurance Co. this week all
officers and directors were reelected.
The officers include William M. Hoff-
man, president; Albert w. Howard,
vice president and secretary; Edward
G. Baltz, vice president; James M.
Fitzpatrick, jr., assistant secretary,
and v. Manning Hoffman. assistant
secretary. The company was estab-
lished on March 3, 1887, and received
its charter direct from Andrew Jack
son, retiring President of the United
States.
Heard in Financial District,
Miss Catherine M. Krieg, one of
the secretaries of Robert v. Fleming
Of the Riggs National Bank, has re-
turned from a short vacation in
Florida.
Capital Transit stock was much
stronger on the Washington Stock
Exchange today when 10 shares
changed hands at 9A, about a point
and half above the last previou.
sale. The final bid was with II
asked
Washington Gas Light preferred
stock sold at 97,s again oday. Cap.
ital fractions appeared on the board
on a 1000 transfer at IS. unchanged
and Washington Gas Light SIS, 1860