davidaulloa/AmericanStories huggingface dataset:
Evening star., 1939-08-27
Building Records Show Nearby Sections
Claiming Larger Share of Growth Here
Outside Home Units
Exceed Volume for
District Itself
By DONALD B. HADLEY.

Maryland and Virginia sections Of
the Washington metropolitan area
are claiming a larger part of the
National Capitals population growth
than the District Of Columbia itself,
building records indicate.
With only private population esti-
mates available for the adjoining
sections the 1890 cencus and only
Government estimates for the Dis
trict up to and including 1887, home
construction is the best barometer
OF population trends at the moment.
In 1888 and the first seven months
of this year $3.50 families were pro-
vided for by home construction in
adjoining sections compared with
1889 family units provided in the
District during the same period.
45,092 Units Provided.
The following table which reveals
45,092 families provided for in the
metropolitan area since the first Of
1895, gives family totals in the Dis
trict and adjoining sections in the
first seven months of this year COM
pared with totals for preceding full
years.
Evening star., 1939-08-27
Tire Industry Is Expected
To Show 1899 Gains
Special Dispatch to The Star.


NEW YORK, Aug. 26.-Indica-
tions are that the tire industry will
chalk up 1889 as a very satisfactory
year for replacement sales, the back
bone of the business, and q better
year than 1898 for the less profitable
original equipment business, with
sales volume topping 1898 by about
Is per cent, according to the forth
coming issue of the Financial World.
Replacement sales during the
first half Of the current year came
to 17,500,000 casings," states the
magazine, which with a conserva-
tive estimate of $4,000, 900 for the
second half of the year would make
total of 32,500 900 castings for the
entire year, compared with total
sales of 10000, 900 castings in 1898.
Original equipment sales, on the
other hand, make a more impress
sive comparison. Against full year
total Of only 11,500,000 castings in
1888, during the first six months
of 1899 100000 castings were sold.
to automobile manufacturers. And
according to even the lowest esti.
mates they will require some g..
100000 more this year. making .
total of 100000 castings for the
II months.
Exports in 1899 are approximate
ing last years rate of over/l 900 900
castings. Thus. total 1898 sales Of
42,900 900 castings compare with .
prospective total for 1899 Of around
1890, 900, a gain of about 1875 per
cent.
Earnings are not likely to suf.
fer this year from inventory write
downs. For almost year the price
for raw rubber has been extraordi-
narily stable around 16 cents Q
pound"
Evening star., 1939-08-27
Advance in Business
0vershadowed by
War Tension
industrial Activity
Climbs to New 1899
Peck During Week
BY IRVING PERLMETER,
Associated Press Financial writsy.

Rays Of better business ut home
struggled this week to break through
the gloom Of the European crisis.
The busines worlds avid scanning
OF war reports caused many Of IT,
leaders to overlook the fact that
industrial activity here, as measured
by the Associated Press index, hit q
new top for the year and edged
ahead Of the temporary peak of last
fall.
The stock market, for instance,
reacted almost entirely to foreign
reports.
Retail trade kept pace, generally,
with the faster step Of industry, and
Federal Reserve Board survey
showed that in the latest week for
which data is available department
store sales were per cent above the
corresponding week last year.
Likewise, the Commerce Depart
ment said that 2,973 wholesale Arms
representing % different trades re-
ported July sales of more than Sl0,-
10000, which was per cent more
than in the same month last year.
Store Sales Increase.
The department store sales survey
indicated gains over last year for all
the II regional districts except San
Francisco, which had a 2 per cent
decline. The South continued to
make the best relative gains.
Higher steel and cotton manufac-
turing rates, both at new 1899 peaks.
contributed most to the boosting Of
the Associated Press industrial index
to a high for the year of 951 per
cent Of 1929-30 averages. The per-
centage compared with $40 the pre-
ceding week and 778 a year ago.
Automobile assemblies, electric power
use and residential construction
also gained.
Railroad carloadings also hit q
new high for the year, aided by
brisker grain and miscellaneous
shipments. Ore was the only type
OF freight which moved In smaller
quantity than in the preceding week.
Barometers Reviewed.
Statistical business reports Of the
week included.
Steel northumberland Oh
per cent to 622 per cent of capacity.
compared with COS month ago and
42.8 year ago, according to Ameri-
can Iron and Steel Institute.
Electric power production-In-
creased is per cent to all-time rec.
ord high of 2,367 ,646 900 kilowatt
hours in week ended August 10,
according to Edison Electric Insti.
tute. This figure is 10.7 per cent
higher than year ago.
Railroad carloadings - Increased
IA per cent to 1889 high total of
674,237 cars in week ended August
l9, also increased 1873 per cent over
year ago.
Automobile ssembhes-Increased
to 1885 units. compared with H..
955 last week and 1900 a year ago,
Wards automotive reports said.
Evening star., 1939-08-27
Insurance Tax Decision
Attracts Interest Here

The right Of a certain type OF
insurance proceeds to be exempt
from Federal estate taxes, which
was upheld by a recent decision OF
Justice Alfred c. Coke In a United
States District Court in New York
has been welcomed by the National
Association Of Life Underwriters a.
highly important not only to in
surance men, but also to the general
public.
Justice Coke held that Federal
estate taxes could not be collected
on the proceeds Of an insurance
policy where the insured had trans
ferred all rights and incidents OF
ownership" to the beneficiary during
the lifetime of the insured.
A previous contrary decision In
the United States Court of Claims
had held that the proceeds Of a life
insurance policy were subject to
taxation in spite of the fact that the
insured had retained no incidents
Of ownership In the policies and in
spite Of the fact that no interest OF
whatever kind passed to the bene-
ficiary because Of the death Of the
insured.
Evening star., 1939-08-27
Europe and Far East Buy
Copper. al Feverish Rate
~ the Associated Press.

~ the Associated Press.
NEW YORK, Aug. 26.-Europe
and the Far East scrambled for
copper this week while war prep
arations shot ahead at feverish
pace.
Scarcity of electrolytic copper for
spot and nearby delivery through
out the world kept buyers hopping
trying to fill their needs.
The British government clamped
an embargo on shipments OF strate-
gic materials, including copper,
to Germany, who consequently
switched to the United States mar
ket. The German buyers were after
Around 1000 tons of the red metal,
according to estimates in trade cir
cles, but there was considerable
doubt whether the full amount
could be procured In the near future.
Japan purchased around 1,500
tons, and it was rumored Poland
wanted double that amount for
quick shipment. Near the end of
the week England joined the Con-
tinent In the domestic market.
Smelters and producers contin-
ued to quote 1oh cents.
In the export trade the sudden
collapse In the pound sterling threw
prices into confusion. Many sales
were made on cash dollar basis at
prices ranging from 1850 to a top
OF 10.7l cents pound.
Evening star., 1939-08-27
Purchasing Agents Fear
War Effects on Recovery
BY the Associated Press.

By the Associated Press.
NEW YORK. Aug. 26.-American
industry was described by the Ma
tional Association of Purchasing
Agents today as "in the midst of a
moderate but general upturn" which
a European war might alter.
AT the moment" said the associ-
alton, American and Canadian
businessmen are watching hourly
bulletins Of the crisis which is oc-
curing in Europe with much greater
concern than is given the hap
penings within domestic industrial
affairs. -
Since 80 years ago, production
and distribution here have shown
further definite improvement, with
evidence that additional betterment
reasonably might be expected. .
"On the whole, American industry
Is in the midst Of q moderate but
general upturn. However, happen
ings in Europe during the next 10
days may cause repercussions that
will change this entire picture. - ="
Evening star., 1939-08-27
Chicago Livestock

CHICAGO, Aug. 28 up Omitted States
Dep department. OF ASriculture).--ealable hogs.
Imeaser; market nominslly steady; ODD head
few packing .ows. ss5-s5o pounds, S.S9-7S:
shippers took none; estimated hoidover.
pounds down, 1890 higher; iso-290
pounds 26,40 up; heavier butchers, 40-6O
hieheri packing soys bo-7S higheI,
pared Friday last week Good and choice
light yearling steers and fed heifers steady
to strong instances. 1913 higher medium
weignt and heavy steers grading good and
PETER generally steady. having. regatned
Mondays decline; common and medium
TOP; so, 1918 for choice 70 prime L. ss-pound
medium weights, heavies and mixed year.
iings: bulk. all weights grading good and
better, s;7b-9.7b: mentionable number,
sSh h, hS1ptnTessern nv S,ae ersssers larsely 551:
bee cows seae to Is lover sDos Is
Gamers and cutters steady; bulls. strong;
practical top. 8.85: outside, 700; veslers
closed 25-5O higher; weeks bulk, 10. 90
down: selects, 1880; few 10.76-11 90 late;
Western stock calves and yearlings strong,
L b.tss4 Choice steer calves eligible to 1000 or
salable sheep, 1000; total. 5000; COM
pared Friday last week Spring lambs
weak to Is lower; yearlings strong; sheep
little chansed weeks spring lamb TOP,
sssv.. ssf Dsa sss 0s 5u westeTn; s Sl sG;e w ss
erns, s.10-e So; near-choice IO2-pound
yearlinss. Thursday,. 7.10; weeks bulk.
nstiv. eS. 81 o.rins. nsss.SS sS sooS ssed. sssae
ing lambs. 7.50-s.10: weeks tor. S25.
Evening star., 1939-08-27
u. S. Factories Turn Out Planes
At SIS 900, ,OOO-o-Month Rate
Three Shifts Of Workers Day Needed
To Fill Orders Now on Hand

a total invested capital of $780,
100000, are smiling under the load
of a backlog Of 1925 900 900 of or
ders which will take them upwards
OF 18 months to fill.
The major domestic airlines,, for
just about the first time, are start
ing to write their earnings reports
in black ink instead of red.
In the first quarter of this year,
for example, American Airlines
earned cents a common share,
compared with a deficit of 81 cents
a share. in the like 1888 period.
T. w. A. reduced its deficit earn
ings' from II to A cents a share
and United Air Lines cut the deficit
from 46 to % cents. Later reports
are even more favorable.
One reason the air transport COM
panies are turning the profit-making
corner is the quality of their equip
ment. Most of them figure to amor
tie the cost Of their planes in five
years of operation, but actually the
ships they use are good for 10 or
more years, at the end Of which time
they can still be sold and flown away
into some other service.
Furthermore, airline traffic is in
creasing at tremendous rate. For
example: In 1886, the monthly aver
age OF passengers flying in the
United States was $4,000; in 1887 it
was $4,000; last year it was $4,000,
and an average of 135, 900 passengers
a month this year would surprise
no one
Competition Is Keen.
AS for foreign sales, the manufac-
turers meet the toughest kind of
competition when they sell their
equipment in Latin America, where
Italy and Germany in particular are
offering ships and engines on FIVE
year credit terms and in exchange
for coffee, petroleum, wheat or what
have you. Still, Americans sell their
planes there for cash.
At the same time, the European
countries which are straining every
energy in vast air armament race
are among the American industry's
best customers. France, Great Brit
ain and the Netherlands are partic-
ularly well equipped with Ameri-
can ships.
All this demand for American fly
ing equipment has caused q vast
expansion in the manufacturing
plants. Spokesman for the industry
however, assert there has been no
overexpansion, as yet, at least.
We've been burned that way be-
FORE" commented one. -'Plants now
adays are increasing their floor areas
conservatively, and I think every one
in the business will stick to that
policy. The industry is not likely to
increase its investment by mere than
1000, 900 in the coming year."
Evening star., 1939-08-27
Autos indicate Shift,


Automobile registrations also in
dicate that adjoining sections are
sharing more and more of the Ma
tional Capitals growth. Last year
the trend was especially pronounced,
with District registrations declining
while those in nearby areas were in
creasing steadily.
Registrations in the District have
shown substantial improvement this
year over 1898, but still remain below
1896 and 1887 levels while totals for
adjoining sections have climbed to
new al]-time peaks this year.
District registrations OH July 81
stood at 177,845 compared with 1861
253 on the corresponding date of May
81, 1888. Different dates in the two
years are compared because the tag
season started two months later
than previously this year. District
registration totals on corresponding
dates Of various years follow:
Evening star., 1939-08-27

ton has come to the institution
from the American Banker, daily
journal of banking, which has re-
viewed its historic background in a
lengthy story, going back to its
origin.
The institution had its beginning
on September 4, 1909, in the forming
of o-partnership articles of as
sociation as the Bank of Washing
ton. This co-partnership was to
continue for 81 years unless q
charter from Congress was obtained
before that time. The capital stock
was 81, ,OO0, 900, in shares of $40 each.
Daniel Carroll OF Duddington was
elected the banks first president,
Samuel Eliot, jr., was appointed
cashier, and the first bank building
was erected on New Jersey avenue.
incorporated in 1911.
A charter was obtained from Con-
gress and the bank became incor-
porated March 8, 1911, when the
cashier reported on hand this gold:
Spanish, $1,000; British and Portu-
guese, $45,000: American. $5.663.
When the British captured Wash
ington August IA, 1914, the bank
moved all its effects to Brookville,
Md, where they remained until Sep
tember 3.
The Treasury of the United States
needed $250,0O0 to help rebuild the
city after its burning by the British.
The Bank of Washington subscribed
and took $4,000 of the amount.
In July, 1916, the bank subscribed
and took 10000 of the capital stock
of the Bank of the United States.
The bank moved in 1929 from its
Capitol Hill site to the National
Hotel on Pennsylvania avenue, from
which 1t moved to its present To-
cation in 1881. The Bank of Wash
ington was organized as the Ma
tional Bank of Washington in jan
uary, 1886. 1t purchased the as
sets of the Central National Bank
in 1907, assuming all of its liabilities.
Henry Clay and Daniel Webster
were among the celebrities listed
as depositors.
Officers are Listed.
Officers now of the bank include:
J. Frank White, president; James
Trimble, John Alden, and Edmund
H. Graham, vice presidents; Ru.
therford j. Dooley, cashier, ana
Odell S. Smith, secretary OF the
board. The banks statement as OF
last June shows total resources OF
S10,936,746, capital stock OF $780,
600 and a surplus of $4,000.
]. Earle McGeary of w. B. Hipos
H. Co., has been appointed chair
Evening star., 1939-08-27
90 'StreumIiners' to Dote

CHICAGO, Aug. 26 (SpeciaD -
With the streamlined railroad train
five years old this year, a survey
shows that since the first of Union
Pacific's all-aluminum fleet made its
appearance, 30 streamlined, unit
operated flyers have been built. In
addition, 60 trains Of "modernized"
standard equipment with some
streamlined features have made
their bow.
Evening star., 1939-08-27

Edward j. Noble, Undersecretary of
Commerce; William w. Werntz
chief accountant of the Securities
and Exchange Commission; Spencer
Gordon, counsel for the American
Institute of Accountants, and Thom-
as Tarleau of the Treasury Depart
ment.
James A. Councillor, past presi-
dent of the, local institute, viii be
among those attending.
Evening star., 1939-08-27
Non-Skid Paint

NEW YORK, Aug. a (SpeciaD -
Recognizing that skidding is danger
Gus not only on the highways but
In other places such Is bathtubs and
boats, international Paint Co. has
Announced perfection Of q new nom
skid paint for al kinds Of water
craft.
Evening star., 1939-08-27

stitution the
first bank in the
District of Co.
lumbia.
No d e t mi t e
plans have been
completed as yet,
but it is under
stood that in
formal arrange
ments are to be
made to mark
this anniversary
of the oldest
bank in the Ma
tional Capital.
Already wide
Enread rec0Qni-
Evening star., 1939-08-27

man OF the Pro-
gram Commit
tee of Washing
ton Ch a p t e r,
American Insti-
tute of Banking,
it W as q n
n ou n e d by
Francis E. Ro-
hey Of the Bank
Of Commerce
a n d Savings,
chapter presi-
dent.
Mr. McGeary
is a past presi-
dent of Wash
A
Evening star., 1939-08-27
Security Prices Gain
In Chicago Trading
BY the Associated Press.

by VIe E1sSOCIdVeu FTesS.
CHICAGO, Aug. 26-Reviving
hopes that European peace can be
maintained helped to bolster securi-
ties prices here today.
Trade was only moderately active,
but at the close 50 issues had scored
net gains ranging from fractions to
40 points. Ten issues closed lower,
and 10 were unchanged. Transac-
tions totalled $4,000 shares.
Volume for the week totalled
161 900 shares, compared with 137,-
600 last week and 144,s00 Q year
ago.
Evening star., 1939-08-27
Leads Other Cities.

The sensational activity in home
construction here finds no counter
part in any other American city OF
comparable size.
The following table shows the
number of families provided for in
the District Of Columbia only. as
compared with nine other cities OF
similar size during 1886, 1887, 1888
and the first five months of 1899:
Evening star., 1939-08-27
Sales.
Deposits and Assets Up,

Deposits and Assets Up.
Bank statistics here show that
while assets and deposits Of the ~
banks In the District have swept to
all-time records, the number OF pass
books used by the banks customers
still has some way to 60 to equal
predepression levels.
Assets, deposits and pass books on
June 80 Of various years follow:
Evening star., 1939-08-27


has served in all of its Offices and
on local and national committees OF
the American Institute of Banking
The Program Committee will su-
pervise and assist in arranging the
program of the active committees
and coordinate their activities. Mr.
McGeary will be assisted by the
following members of his committee:
Constance F. Jones Of the Riggs
National Bank, and James B. Ahalt
Of the City Bank.
Tax Talk on Radio.
Bankers and businessmen of
Washington will be interested in the
discussion of proposed tax revision
by Acting Secretary of the Treasury
John w. Hanes, to be broadcast to-
morrow night at $50 over the Ma
tional Radio Forum, arranged by
The Washington Star and broad
cast over Nationwide network OF
the National Broadcasting Co. He
will be heard here over WMAL.
Mr.. Hanes has invited leaders in
banking, business and commerce to
discuss with the Treasury their own
ideas of proposed tax revision in
order to compile survey of public
tax opinion for a House Ways and
Means Subcommittee during the
congressional recess. His address
will be of vital concern to all Fed
eral taxpayers.
Business Improves.
Business is better this year for
small Arms in the construction in
dustry throughout Eastern Penn
sylvania, Southern New Jersey, Dela-
ware, Maryland, Virginia and the
District of Columbia, according to
the majority opinion in an investi-
cation of conditions, conducted by
the Dodge Reports Division of F. w
Dodge Corp.
A general increase in building ac-
tivities, particularly in the residen-
tiAl field as a result of more lib
eral mortgage arrangements under
Federal Housing Authority, was the
most popular reason for the brighter
color of business in the Middle At
lantic States. Returning confidence
with subsequent buying was men
toned by several small firms as con-
tributing to their better positions
A smaller group felt that Public
Works Administration and other
governmental spending agencies
were responsible. In some sections
more industrial activity was noted
as the reason for the improvement
Accountants to Attend.
A delegation from the District OF
Columbia Institute of Certified Pub
lie Accountants will attend the an
nual meeting of the American In
stitute of Accountants at San Fran
cisco September Is to 81, according
to Harold G. Anderson, president OF
the local institute.
Among the speakers from Wash
tngton at the convention will be
Evening star., 1939-08-27
Stock Exchange Seat
Brings So, 900 More
By the Associated press

NEW YORK, Aug. 26.-The New
York Stock Exchange announced to-
day sale Of 4 membership at 360, 900,
up 5000 from the previous transac-
ton. The top price for seats this
year was 500 on March 8 and the
low $51 900 in April.
Evening star., 1939-08-27
Capital Ranks Second

For total public and private con-
struction in the first seven months
Of this year the District alone ranked
second in the Nation, being exceeded
only by New York City, the Bureau
Of Labor Statistics reports.
Seven-month totals for 1888 and
1889 in the 10 leadings cities follow:
Evening star., 1939-08-27
Population Estimated,


Approximately $50 900 persons live
within 25-mile radius Of Washing
ton, estimates from assessors Of
nearby areas indicated in q recent
private survey here. Using the OH
cial 1880 census ratio Of families to
population, there are approximately
232 800 families in the same terri
tory.
The 25-mile radius territory
should not be confused with the
smaller and more compact metro
politan area. for which there are no
current estimates.
The following table gives the Of
fetal 1887 population estimate of
627 900 for the District as of July /.
1887, the assessors estimates of
population for 1888 in nearby areas,
together with the population and
family totals from the 1880 official
census:
Present Present Omcial Onicial
Popu'tn. Families. 1880. 1880.
Eati0a II Eetfve a Don,t'f,n ~ ate.
Evening star., 1939-08-27

Private Totals Compared.
In private building permits only,
the District by itself ranked fourth
In the Nation during the seven
months. Totals reported by Dun &
Bradstreet, Inc, follow:
Evening star., 1939-08-27
Hotel Business Good.

HOVcI DUSlHcSS UOUU.
However, Washington hotels have
been doing good business this year,
according to the Horwath Hotel Ac-
countant
The report for June showing per-
centage increases or decreases in
sales from the same 1898 month in
various cities follows:
Evening star., 1939-08-27

Realty Transfers Gain.
Real estate transfers in the Dis
trict for July and the first seven
months Of this year show improve
Evening star., 1939-08-27

For seven consecutive years con-
struction has continued its advance
here and, while the residential part
of the total Jagged behind the pre-
vious year in 1888, it has jumped
into new high ground in 1899.
Metropolitan area grand totals
and residential volumes for seven
months in various years follow:
Evening star., 1939-08-27
Commodity Prices

NEW YORK, Aug 26--The Associated
Press weishted wholesale price index Of 35
eomodities to-day declined to 3.s2.
Previous DAY. 64.O6: wek aeo, $500;
month ago. 64.73: year aso, 6676
Ranse OF recent years:
Eg,;e ~ yss: yss3ss: !!sg3s;s !!sg3s; sslii l'ssRias '2ssa
ue26 aversse equals 1903
Evening star., 1939-08-27
Climbs to S73,534,343.

Total public and private construc-
ton in the metropolitan area
jumped in the first seven months of
this year to $73,534,343, compared
with $48 1921 isl in the same period
last year, with all sections taking
part in the spectacular increase, ac-
cording to the Bureau of Labor
Statistics.
Construction totals for the va
rious sections during the 1889 and
1898 periods are given below:
Evening star., 1939-08-27

Next to the District, Arlington
seems to be the most active area in
home development although Mont
gomery County is not far behind.
Next come Alexandria, Prince
Georges County and Fairfax County.
Home construction was distributed
among the various areas as follows
in the first seven months of this
year: