Evening star., 1939-04-19

business advances in the Capital.
Each one Of the three months saw
the average number of daily origi-
mating calls cross the million mark.
The three record monthly averages
followed similar results in November
and December, establishing the
highest five months for phone calls
in the history of the company.
The number of telephones in
service in the first quarter of 1889
compares as follows with the CORE
spending months in 1888:
1899. 1888.
January - 241.261 228,OO8
February ---- 242,527 228,93O
March 243,881 229 ,89l
Average originating calls per day
compare as follows with the first
three months of 1898:
1889 1898.
January ---- 1,035, $50 947124
February --- 1O57 sol 942, 1888
March ------- 1857, $40 953947
The report for the whole Bell sys-
tenn stated that the number of toll
and long distance conversations was
per cent greater than last year for
the same quarter.
Fleming Heads A. B. A. Group.
Robert V. Fleming, president of
the Riggs National Bank. leaves
Washington tomorrow for Hot
Springs, Va. to attend the Executive
Council meeting of the American
Bankers Association which will be
in session April % to 26. AS a for
mer president of the A. B. A. he is
an ex offlcio member of the council.
The spring session is the most i'm
nual convention. The flnanciers will
review the business and banking
situations, take a look at future
probabilities. consider the status of
pending legislative matters, and dis
cuss the host of other problems
that the new era in bank manage
ment has brought about.
Other financiers from the Capital
will include George o. Vass, vice
president and cashier of Riggs Ma
tional; Sidney F. Taliaferro, an
other vice president and trust Off
Ger of the same bank, Wilmer j..
Waller. vice president and cashier
Of the Hamilton National Bank, and
Francis G. Addison, jr. president
the Security Savings & Commercial
Bank and this years president of
the Washington Board of Trade. All
have Offices or important committee
assignments in the A. B. A.
D. j. Needham of this city, gen.
eral counsel of the A. B. A., will also
attend the Hot Springs sessions. at
which Philip A. Benson, president
of the association, will preside.
Conference Delegates Named.
President Arthur G. Bishop of
the District Building and Loan
League announced after yesterdays
council meeting that F. William
Camp would act for the local group
at the Southeastern Building and
Loan Conference at Charleston, S.
c., April % and 90 He is on the
program to speak on Variable In
terest Rates"
Mr. Camp will be accompanied on
the Southern trip by Robert E..
Buckley. president of the National
Permanent Building Association, it
was announced today, both having
been elected delegates at a previous
meeting.
Edward c. Baltz, past president
of the United States Building and
Loan League, left here after the
council meeting for Chicago to at
tend a directors meeting of the
U. S. League.
Fifth District Loans Gain.
The Federal Reserve Board re-
ports that commercial industrial and
agricultural loans made by banks
in the Richmond reserve area,
which includes Washington, showed
another advance for the week end
ed April II over the previous week.
Banks in the Richmond reserve
district reported business loans had
increased S1,000000 to total of
S238 100000 on April II.
Washington bankers said today
that they considered the upward
trend more important than the
amount of the loans, although the
loan figure was considered encour-
aging.
Incidentally, bankers say there has
been some increase in loans in the
Capital since the District Bankers
Association launched the advertising
drive announcing ample funds on
hand to provide for a substantial
increase over demands in recent
months.
Drastic Action Held Unlikely.
Government officials are believed
to consider that no drastic action
would be needed in connection with
the security markets in case war
should eventually develop in Europe
There would be no necessity for
closing the exchanges or commodity
markets in spite of the 1914 prece-
dent. Opinions unofflcially expressed
yesterday by Government officials
agreed with the ideas of leading
brokers in the Capital, announced
last week.
President Roosevelt yesterday con-
ferred with department and agency
heads charged with responsibility
over the Governments operations in
the fields of finance, foreign ex-
change, securities and commodity
markets, banking and general credit
which would be directly affected in
event of war.
Capital Transit Again Rises.
Capital Transit stock scored an
other gain on the Washington
Stock Exchange today when five
shares sold at l114, new 1889 high
mark and up Is from yesterdays
close. Final bid, 114; offered at IL
Washington Gas Light preferred
came out today at los, and 30 shares
of Potomac Electric Power 512 pei
cent preferred moved at 113la.
Anacostia & Potomac first SIS
1910, sold at 86l4, against the las
previous sale at IS, on a $1,000