Evening star., 1938-12-30
D. {. Savings Average
Smaller Than for
Entire Nation
STA Compares With $19l
For U. S.; $88, Virginia;
$253, Maryland
By EDWARD C. STONE

Tor west virginia, accOrdlng TO the
annual survey just completed by the
American Bankers Association. The
averages are based on the estimated
population as of January l, 1887.
Total savings deposits in WASH
ington banks on June 80 amounted
to $108,l4l 900 while all classes of
individual deposits totaled 10O,-
900. Total savings deposits in Mary
land amounted to $424,574 900 and
in Virginia to S235 1866 900.
Savings depositors in Washington
banks on June 80 of this year num-
bered 267,93l while Maryland had
900037 and Virginia, 485,161. The
impressive number of savings &C
counts in Maryland is presumably
due to the mutual savings banks in
addition to the others.
In the 10-year period from 1923
to 1888 Washington experienced a
loss of 54 per cent in savings per
inhabitant, the report states. Mary
land made a gain of l3 per cent,
Virginia lost II per cent, almost
every other State in the Union re-
porting a decrease. Maryland made
the best showing in the country, ex-
cept Delaware.
Slight Gain During Year.
The A. B. A. report states that
savings and other time deposits in
the banks of the entire country in
creased S133 ,557 900, or 055 per cent
during the year ended June 80.
The number of savings depositors
increased 322,736 or .73 per cent to
total of 44,5489l4 while the total
volume in savings accounts and
time certificates aggregated S24,625,-
$4,000.
The increase in savings which be-
gan four years ago following the
upward swing in business has con-
tlnued even in the present depres-
SION" w. Espey Albig, secretary of
the savings division, stated. al
though the rate has slowed down
from that noted a year ago. before
the onset of the recession. which now
happlN ""ems to be clearing up"
RSiTtilIH to the number of de-
pc>-,orS, q 1894, Mr.. Albig OBJ
s5-Fed tina. his is far cry from
,1e 53,186 81: depositors registered
- 1923. S.--= that time there has
1eea an INCREASE in population of
Z @S0 900, 50 nat comparable fig
l-e for the ear just passed would
be j6.all.S5
foundations show that of the
total savings deposits of more than
S24,000,0 100000, mutual savings banks
carried s1O00o,0oO 900, State banks
had $500 1875 900. national banks
had S7598,60l 900, trust companies
had $2,867 ,453.000 and private
banks had S38855, 1000,
c. & p. Operating Revenues Up.
Operating revenues of the Chesa-
peake & Potomac Telephone Co. in
November totaled S973,41l, against
the lower figure of S933,O24 in
November, 1887, according to the
statement FLED today with the Public
Utilities Commission.
Operating epenses were also higher,
S7O2,860 comparing with S688, 1872 a
year ago. Taxes called for S95.3O9,
compared with $8O7l3 last year,
leaving net operating income of
SITS PAP, against $164,119 Interest
deductions required S39,1O8, against
$29213, leaving a net income for the
month of Sl39,243 in comparison
with Sl43,003 year ago in Novem-
ber.
In the first II months of this year
net income amounted to S1.563,676,
compared with S1,717,349 in the like
1887 period, today's report said
Operating revenues totaled S10,371,- =
1852, against Sl0,165,7S2 Operating
expenses were also higher, $7,471, ,677
comparing with $7,354,839. Taxes
took 81 ,001 800 VS.. 1899 ,291 last year.
Net operating income totaled
ST 1898 ,225. Interest deduction called
for S378,933, against $239,440 last
year, making the above stated
balance before dividends moderately
lower than last year. There was a
substantial gain in the number of
phones in use in November and in
the number of average daily calls,
llle report OlSClOSeQ.
Late Closing Next Tuesday.
Notices in the Washington banks
state that the usual Saturday bank
ing hours will prevail tomorrow,
December 81, but that they will
remain open late on next Tuesday
for the accommodation Of Govern
ment workers. The banks, invest
ment offices and all brokerage
houses will be closed on Monday.
The Washington Stock Exchange
will also join in the observance of
the New Year holiday.
United Air Lines today reported a
total of 8,943,359 revenue passenger
miles flown during November, an
increase of So per cent over Novem-
ber, 1887, and decrease of "a per
cent over October, 1888.
Washington bank clearings for the
week ended Wednesday totaled $18,-
436,98119, against S19,893, 1880 a
year ago, a decrease of 7 per cent.
There was a sharp drop from the
previous week.
The Security Club of the American
Security & Trust Co., of which Henry
S. Kenworthy is president, held a
Christmas celebration at the Ward
man Park Hotel last evening, cards
and dancing being featured. James
G. Dulin, jr., and Hans w. Ireland
were special guests, representing the
officials.
Building and loan associations will
follow the same schedule tomorrow
as last Saturday when some were
open and others were closed for the
day.
Gas Sells at LOG Again Today.
Washington Gas Light preferred
stock again sold at 106 on the Wash
ington Exchange today, the 1888
peak. Trading was very light.
Capital Traction SIS appeared on
the board in a $500 transaction at
80, and single share of Potomac
Electric Power 512 per cent pre-
ferred stock moved at 115l2.
New York Stock Exchange Offices
in the financial district were