Evening star. [volume] (Washington, D.C.) 1854-1972, 1938-01-08
HUGE GAIN SEEN
IN AIR TRAVEL
American Air|ines Reports
$4,000 Increase in 1887
Passengers.
By EDWARD C. STONE.

Presenting conclusive evidence that
travel from Washington and other
airports suffered no recession in 1887,
c. r. Smith, president of American
Airlines, announced today that his
company carried approximately $4,000
more passengers in 1887 than in 1886,
setting an all-time world record. Total
revenue passengers numbered 300,57l,
as compared with 255,324 in 1896.
On the southern transcontinental
route from New York by way of
Washington to Los Angeles, the COM
pany carried 55,905 revenue passen-
gers in 1887 as against 1866 passen-
gers in 1886. The Chicago Cincin-
Observation-Disclosures York route
Joined in the improvement, with pas
sengers numbering 1875 in 1886 and
21, 159 in 1887. The same general i'm
provement was noted on other routes,
he said.
Mr.. Smith stated that total revenue
passenger miles for the companys Ma
tion-wide system during 1897 showed
an increase of about 100000. One
of the routes through Washington dis
closed an increase in mileage of 80
per cent and the other A per cent.
The gain on all routes was % per cent,
he reported.
District Employment Holds Up.
In November and early December
the District of Columbia reported the
nost evep enop1oyo,oept conditions -,
this trade area, according to the Re-
serve Bank of Richmond There was
a gain in Washington of IL per cent
in the number of persons on payrolls
and of o. per cent in the amount of
pay rolls, from October through No.
Vember
Maryland pay rolls were off 81 per
cent in numbers and sc per cent in
amount; Virginia was down IL per
cent in numbers and 81 per cent in
amount: while West Virginia lost 3
per cent in the number employed and
dropped 7.3 per cent in amount The
Carollnas also experienced declines
both in numbers and amounts.
Increased employment in tobacco
markets failed to offset reductions in
other lines, including textile mills and
a drop in coal production Extra help
for the holiday season tended to re-
duce the decreases. the bank states.
Financing Lowest in Five Years.
The final total of State and munich
pal financing for the year 1887 was
1881, ASP. 1888, the smallest total recorded
during the past five years and sub
stantially lower than last years total
of sl,l56,254,317, according to the
Daily Bond Buyer.
State and municipal financing for
the month of December totaled $685.
949,566, as compared with S92838, 1921
in December, 1886. R. F. c. financing
during December amounted to $685.
600, as compared with S2,192,0Oo in
December, 1886. P. w. A. financing
last month totaled s12,754,7O as COM
pared with s3l2,4 o6 in December. 1886.
Voters of 83 municipalities, located
in % States, during December ap-
proved municipal bond issues aggre-
eating only s6,410,470, as compared
with 65,838,192 bonds approved dur
ing November. The total for 1887 was
only s165,58l, 054, as compared with
$l86,6O3,162 for 1895.
Savings Accounts Up Sharply.
Francis G. Addison, jr., president
Of the Security Savings & Commercial
Bank, called attention today to the
rapid rise in savings bank accounts in
Washington's banks. During the pc
Rod from June 80, 1888, to June 80,
1887, the number of depositors having
savings accounts increased from $780,
499 to 259,292, he said.
During this same period the Capt.
tails % banks enjoyed uninterrupted
growth in other ways. There was an
increase in total resources from S275,-
100000 to $685., 100000.
Washington banks are now lending
their customers in excess of $120,000,-
900 for the conduct of business by
merchants and builders and for many
other types of commercial activities,
said Mr.. Addison, adding that the
prosperity of the community is re-
flected by the constant lending and
repayment of this large amount.
The active overturn of this sum
should continue, due to the decided in
crease in Government business and the
establishment here of headquarters by
many national organizations, the bank
official commented, in viewing 1888
with optimism.
Banks Net s10,s01 900 in 1887.
Federal Reserve Banks had net
earnings of S1O,801, 900 in 1887, &C
cording to preliminary statement is
sued by the Board of Governors of the
Federal Reserve System.
Out of these earnings the II banks
paid dividends to members amounting
to $7,942,OO0 and carried 1888, 900
into surplus. Current earnings of the
banks amounted to SAL 1892, 900, an
increase of s3,331,OoO over 1886, and
current expenses aggregated s28,800,-
600, q decrease of $l,074.000.
Falls Church Bank Grows.
The year 1887 was the most pros
porous in the history of Falls Church
Bank, 1t has been announced by George
A. Bready, cashier.
During the year the banking insti-
tuition increased its resources more
than $4,000, paid an 8 per cent divi-
dend amounting to $4,000, and in
creased its surplus and undivided
profits by approximately $4,000. In
addition the bank charged of $500
for depreciation.
Financial District Notes.
H. H. Mckee. president of the Ma
tional Capital Bank. will be the guest
speaker at dinner of the officers
and personnel of the American Build
ing Association at the Continental.
Hotel this evening.
On December 81, 1887, 1887 in.
dividuals, corporations, trusts and
other public institutions held common
stock of the National Dairy Product!
Corp. This compares with 1919:
common shareholders on September
an 1o27 and 80 Q63 on December Al