Evening star., 1938-10-04
POSTAL RECEIPTS
FAR ABOVE 1887
September Total Climbs
1916 Per Cent Above
Month Year Ago.
BY EDWARD C. STONE.

Receipts at the City Post Of1ce,
which are considered an excellent
barometer of general business condi-
tions in the Capital. jumped 1915
per cent in September, compared with
September, 1887, it was announced
today 1t was the highest mark for
the month on record.
September receipts at the Wash
ington main Office totaled 1868, ,49489,
in comparison with $565, ,724.4s in the
corresponding month last year, or a
gain of $lo2,77o.4l.
Postal officials were elated over the
results. The first month in the Gov
ernment's fiscal year. July, recorded a
drop in postal revenues from the same
month year ago.
August saw the figures reversed, the
monthly statement disclosing sub
stantial increase over August, 1887.
With another sharp increase in Sep
tember it is believed that the tide has
turned, and that increases are likely
to be recorded during the rest Of the
year.
The upturn is in line with bank
clearings in the Capital in Septem-
ber. which also revealed gain over
August and almost reached the total
for September, 1887.
Capitals Bank Deposits Up.
Deposits in Washington's % banks
are believed to be about where they
stood when the controller of the cur
rency issued his call for condition
statements last March. That would
mean that deposits are now some
s28,000.000 higher than they were on
June 80 of this year,
Last March aggregate deposits in the
banks here amounted to about $685.
100000. At the end of June they had
dropped to about s306, 100000 Bank
ers now estimate unofficially that de-
posts have climbed back to around
$685. 100000, most satisfactory
figure.
Total bank deposits in the Capitals
banks are now being discussed in the
light of possible bank call, perhaps
some time this month. In the past
many calls have been issued by the
controller dated in October. The call
was omitted last year and may be
again this year 1t is not required by
law, only three a year being necessary.
There have already been two, and
one is always put out on December 81.
With a new controller. Preston Del
ano, not yet in Office, and a new
deputy controller, Cyril B. Upham, just
appointed. the probability of a bank
call is mere guesswork. The fact that
deposits In Washington are now some
where around $685. 100000 is, how
ever, intensely interesting. regardless
of how soon further reports are asked
by the Treasury.
Robinson Adds Two Partners.
Association of Charles P. Lukens, jr..
and Austin B. Rohrbaugh, formerly
with Auchincloss, Parker & Redpath,
with the investment firm of T. Baker
Robinson Co. and the continuation OF
the business as Robinson, Rohrbaugh
& Lukens, a partnership, was an
nounced in the financial district today.
This brings together three men who
have been identified with the securities
business here for many years. Mr..
Lukens, after graduating from Prince
ton University in 1922, represented
Halsey. Stuart g. Co. in Philadelphia
and Washington before becoming as
sociated with Auchincloss. Parker &
Redpath in 1882.
Mr. Rohrbaugh, after II years with
the Mercantile Trust Co. Of Baltimore,
came to Washington in 1880 as man.
ager of the investment department Of
the Washington Loan g. Trust Co.
Mr.. Robinson. who is member of
the Washington Stock Exchange,
founded the original firm.
Fleming to Attend Sessions.
Robert v. Fleming. president of the
Riggs National Bank, will attend the
meeting of the Administrative Com
mittee of the American Bankers AS
sociation in New York Thursday and
Friday, which has just been called by
President Orval Adams
Other members of the committee in
clude Philip A. Benson. president Dime
Savings Bank of Brooklyn; Frank R.
Curda. City National Bank & Trust
Co., Chicago; Robertson Griswold,
Maryland Trust Co., Baltimore; Robert
M. Hanes, president Wachovia Bank
IL Trust Co.. Winston-Salem; Rudolf
s. Hecht, New Orleans; Tom K Smith,
president of the A. B. A. last year, and
other prominent financiers
Coyle Underwriters Speaker.
David Cushman Coyle, engineer,
economist and writer, will be the
speaker at the monthly dinner of the
District of Columbia Chapter of Char
tered Life Underwriters at the Cosmos
Club next Monday evening at o'clock
His subject will be investments and
Government Spending
Among the guests will be the local
candidates who have recently COM
pleted the annual examinations of the
American College of Life Underwriters.
Acting for the Board of Trustees of
the American College, H. Lawrence
Choate, general agent of the Mutual
Benefit Life Insurance Co. of New
Jersey, will confer the c. L. U. desig-
nation upon the successful candidates.
Bond Price Set at 1887.
The Virginia Electric g. Power Co.
has filed an amendment with the
S. E. c. stating that the offering
price of its s37,5Oo0OO 3la per cent
first and refunding mortgage bonds,
series B, due 1868, will be 103la.
Offering is scheduled for tomorrow.
Washington Gas Light preferred
drew all the attention on the Wash
ington Stock Exchange today when
20 shares changed hands at 997s.
on an ls from yesterdays closing
sale at 100
The Women's Committee of the
American Institute of Banking is ar
ranging a straw ride for Wednesday
evening, October H. Katherine Nc
Calmont, chairman, is being assisted
by Alice Whitton, Naomi DeLozier,
Virginia Birgfeld, Aileen Allen, Mar
guerite Detterer and Margaret Fisher.
NJ