Evening star., 1939-11-29
Capital Banks Open
Christmas Savings
Clubs Tomorrow
Nineteen Institutions
Look for Another
Rush of Subscribers
BY EDWARD C. STONE.

BY EDWARD c. STONE.
Nineteen Washington banks and
many others in the suburbs will
open their 1910 Christmas savings
clubs tomorrow, it was announced
In the financial district today.
The clubs will be operated under
practically the same regulations as
they we're this year, bankers said.
That means they will pay no inter-
est to members. Payments will be
made weekly. Some banks will take
as small amounts as $25 and as high
as 1000.
One or two of the banks will de-
duct a 50-cent service charge in
cases where subscribers drop out of
the clubs before the year ends; in
other words, before they make all
their payments. This charge is to
defray the cost of the bookkeeping.
Banks in the Capital which will
operate the 1910 clubs include the
American Security & Trust Co., An
acostia Bank, Bank of Commerce &
Savings, City Bank. Columbia Ma
tional, East Washington Savings,
Hamilton National, Industrial Bank
of Washington, Liberty National,
McLachlen Banking Corp, Morris
Plan Bank. Munsey Trust Co., Ma
tional Bank of Washington (Water
street branch), National Savings &
Trust Co., Riggs National branches
only, Second National. Security
Savings g. Commercial, Union Trust
Co. and the Washington Loan &
Trust Co.
Another brilliantly successful
campaign was predicted in the
financial district today, both as to
the amount subscribed and the
number of subscribers. For years
Washington has led the country in
per capita subscriptions to these
clubs, no other city being anywhere
near the Capital in Yuletide thrift.
Baltimore Controllers Guests.
The November meeting of the
District of Columbia Control of the
Controllers Institute of America,
was held last night at the Carlton
Hotel, starting with dinner at
$50. Members of the Baltimore
Control joined forces with the Dis
trict organization and made the
meeting one of the largest and
most interesting in several months.
The chief address was delivered
by Brooke E. Furr OF Mccormick
e. Co., Inc, Baltimore, on Multiple
Management" A number of eX-
ecutives in Washington business
firms were present. Humphrey
Lloyd of Washington Properties,
Inc, president of the District
chapter, presided.
Traction Bonds Are Strong.
Capital Traction SIS sold at 97l4
on the Washington Stock Exchange
yesterday, new high for the
present year. Most of the days
sales were made at 81, which was
also a new mark for the move.
The volume of trading in the trac-
ton bonds was also the largest
In months, including a $4,000 sale,
another $4,000 block and six $1,000
transactions.
Attention was turned to these
bonds the other day when the
Capital Transit Co. directors voted
to set aside $4,000 for the retire
ment of bonded Indebtedness, fol-
lowing the voting of 50-cent
dividend on the Transit stock.
Any move to retire bonds always
strengthens the outstanding issues,
on the theory that any reduction
in the amount outstanding will
help those left in the hands Of
investors.
Cook Heads Dinner Committee.
William N Payne, jr., president Of
the District Building and Loan
League, has appointed Martin A.
Cook chairman of the 1910 Banquet
Committee, with Rudolph H. Santel-
mann again serving as vice chair
man. The annual event will prob
ably take place on March % at the
Mayfower Hotel.
Meeting at the Raleigh Hotel yes
terday, members of the league in
dorsed suggestion of Edward c. Baltz
that a representative of each asso-
citation affiliated with the Federal
Home Loan Bank System attend the
annual meeting at Winston-Salem
in January. F. Wilson Camp has
been appointed official delegate for
the District League. The delegation
is expected to exceed 20.
Western Maryland's Net Scars.
The Western Maryland Railway
reports for 10 months ended Octo-
ber 81, 1899. net income of 1921 BOT
after taxes and charges, equal to
$463 a shart on 1T ,420 shares of
per cent first preferred stock, on
which there is an accumulation of
unpaid dividends. This compares
with net income of S118,5O5. or 81
cents share on first preferred
stock in 10 months ended october
81, 1888
The Virginian Railway reports for
10 months ended october 81, 1899,
net income of s5,157 SOB after taxes
and charges. equal after dividends
on per cent preferred stock, to
$1202 a share on 312,715 shares of
common stock This compares with
net income of S4235,925 or 907 a
common share in first 10 months of
1898.
Net railway operating income of
$10,204,2O1 reported by the Penn
sylvania Railroad for october was
the best net operating income of
any month since October, 1929,
when it totaled S15,0O2,180 Gross
revenues for october of 47438, ,431
were the largest of any month since
October, 1880, when gross was
$50,949,5 ,539.
Financial District Comment.
Liberty National Bank stock sold
on the Washington Exhange today
at ITO for 20 shares and 168 for 10