Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-12-26
D. T.. Bank CIearinos
Disclose Holiday
Season Increase
December and Longer
Term Records Exceed
Totals Yeor Ago
BY EDWARD C. STONE,

to that date for the whole year
were also much higher than a year
ago in the like period, George H
Bright, manager Of the Clearing
House Association, reported today
Bank clearings in the Capital in
the first % days of this month
totaled $92 $50, 287 O6 in comparison
with $89, SOL ,480.17 in the first "a
days of December, 1888, an increase
of $685., 806.89.
Clearings for the full year up to
the end of December % amounted
to $1,183 ,258,9 OF against s1,128,-
235,87l.39 to and including Deem
Der "a, in 1888, an upswing of
SIS, 1923, O8462.
The December figures alone in
dictate the increases in Christmas
trade already reported from many
other sources, while the substantial
gain for the longer period proves
that business for the full year 1889
will far exceed the record for the
year 1898.
December bank clearings, postal
revenues, express shipments, and
department store reports from the
Fifth District Reserve Bank, all
indicate Christmas buying wave
in the Capital never before equalled.
Increase in Pay Rolls Seen.
Henry H. Hermann, executive
manager of the National Associa-
ton of Credit Men. has sent a
cheerful forecast to the Washing
ton association. He says:
There will be an increase in
total pay rolls because of full en-
ployment of presently unemployed
or part-time workers and because
OF some increase in wages in certain
industries where the wage-earner
has not participated in earlier ad-
justments. This purchasing power
will stimulate particularly the con-
sumers goods lines.
Agricultural income during 1910
should increase at least 10 per cent
over 1899. War activity may in
crease it more. Whatever the in
crease, the farmer can look ahead
to better year in 1940
Despite a possible lul in busi-
ness after the first of the year,
which would be normal expec-
fancy, it is doubted whether this
recession will be as large as many
people believe. The recession may
well be less than seasonal because
OF the potential business needs"
Terminal Dividend Voted,
Directors of the Terminal Refrig-
Grating & Warehousing Corp. have
declared the regular semi annual
dividend of $150 per share on the
outstanding stock, payable today to
stockholders of record on December
%, according to announcement by
Jerry P. Johnson. This adds one
more dividend to the long list al
ready declared by many Washing
ton corporations as the year nears
q close.
The Federal Housing Administra-
ton has just announced that home
mortgages in Washington accepted
for insurance in October numbered
As and totaled $237 300, against 80
in October, 1888, amounting to $2O7,-
700. From January to the end of
October insured mortgages num-
bered 434, amounting to $2,346, 600.
Maryland insured mortgages in
October numbered 1853, amounting
to $1,212 200 compared with 215 in
October, 1888, which totaled $973,-
200 From January to the end of
October, these mortgages numbered
2,O64, amounting to $9,298, 300.
Virginia insured mortgages num-
bered 246, amounting to $1,173,0 900
against 231 year ago. involving ST.
O19 500; year to date, 2,240 mort
cages, amounting to sl0,5O7 200, the
report says.
Securities Dealers to Meet.
The first meeting of the new board
OF governors and the advisory coun-
Gil of the National Association of
Securities Dealers will be held on
January % and % at the Carlton
Hotel, it was announced here today.
Representing District No. II,
which includes the District of Co.
lumbia, Maryland, North Carolina,
Virginia and West Virginia, on the
board of governors will be B. Howell
Griswold, jr., senior partner of
Alexander Brown & Sons, Balti-
more. James Parker Nolan of Fol-
ger, Nolan & Co., Inc, Washing
ton, will represent District No. II
as a member of the council.
At the meeting, the governors will
select their officers for the ensuing
year. One of the main considera-
tons of the new board will be mat
tiers of national policy.
The board of governors of the
association consists of 81 members
representing the IA districts in the
United States. The advisory coun-
Gil is composed of the chairmen of
the district committees for the IA
districts.
Financial District Notes.
Details of the Baltimore & Ohio
r. r. November report show a net
railway operating income of ST.
423,282, a gain of $1,748,297 over
last year, including a gain of $4,5O6,-
070 in freight traffic. For the first
II months of 1889 net railway
operating income totaled $24,049,-
$50, an increase of $10,937, 857 over
the like 1888 period.
The Washington Office of H. j.
Heinz Co. will hold a banquet
Thursday when the employees in SO
other cities will also have dinners.
The 10 parties will be hooked up by
radio and be addressed by Howard
Heinz from the head Office in Pitts
burgh.
Gas Common Stock Higher.
Washington Gas Light common
stock sold at 1894 on the Washing
ton Stock Exchange today, a new
high mark On the present move
and up a full point from the last
previous SALE
The stock closed with 29A bid
and 30A asked. Bid and asked
prices on other issues were prac-
fico liz, y,ooh O mad froV,, Ia 81 U1r;.J W.