Evening star., 1939-03-20
Business in Capital
Will Surpass 1888
In First Quarter
Favorable Conditions
During March Adding
To Previous Advances
BY EDWARD c. STONE.

The prediction is based on reports
already made for January and Feb
ruary and trade reviews up to the
present time in March.
Bank clearings in the first two
months of 1899 totaled S179,158,-
40743, an increase of ST l,491 0435 so
over the same months in 1888
Weekly Clearing House reports so
far in March indicate that this
month will be above March a year
ago.
The Chesapeake & Potomac Tele-
phone Co. reported that average
daily calls crossed the million mark
in both January and February, for
the first time, placing total calls far
ahead of last year. There was also
an increase in the number of tele-
phones in service.
Other Indicators Favorable.
Postal receipts at the City Post
Office in the two months scored a
gain of Sl00427 over last year and
started 1889 off with new postal
record 1t is understood that the
March figures will likewise be highly
favorable.
Department stores sales in the two
months we're slightly ahead of last
year. The weekly reviews of the
Commerce Department to date in
March have generally shown ad-
vances over the corresponding weeks
year ago.
The Potomac Electric Power Co.
reported a generous rise in kiloWatt-
hour sales in January and February.
Judging by the trend for several
months, March output will disclose
a similar increase. The Washington
Gas Light Co. has enjoyed notable
gains in the demand for gas during
the same periods.
Further evidence of rising busi-
ness activity is presented in the re-
ports of the Capital Transit Co.
January and February earnings were
above last year and the weekly re-
ports in March have displayed
similar trend. To these important
barometers might be added the ac-
tivity in the building field which
has been decidedly favorable for
several months.
Officers Honor Corcoran Thorn.
Corcoran Thorn, president of the
American Security g. Trust Co.,
who has Just completed 80 years
service with the bank. was rendered
testimonial dinner by his associ-
ate officers at the Chevy Chase Club
Saturday evening.
The occasion was most enjoy
able affair for the banks official
family. 1t was only natural that
Mr.. Thorn would be very highly
praised for the brilliant service he
has rendered the institution during
the three decades.
When he entered the trust COM
panys Office 80 years ago, resources
totaled about sl2,000,0O0. The con-
trollers last call, on December 81,
1888, revealed resources of S62910,-
42437 and total deposits Of S54,O49,-
45934
While the gains in deposits are
striking, the tremendous progress in
the trust department is perhaps even
more impressive.
BANKERS AT HnlldQelpn1a.
Washington sent delegation of
bankers to the annual dinner of
Philadelphia Chapter American In
stitute of Banking, held at the Brad
ford Hotel, Saturday night The
delegation was headed by Hilleary
G.. Hoskinson, president of the
District Bankers Association and
vice president of the Riggs Ma
tional Bank.
Others attending were James A.
Soper and Richard A. Norris, vice
presidents, Lincoln National; I. J.
Roberts, assistant cashier, Riggs
National, and Wilmer j. Waller,
vice president and cashier, Hamilton
National. L. E. Birdzell. general
counsel of the Federal Deposit In
surance Corp, was also present.
Marcus Nader, New York Uni
versity professor. the guest speaker,
stressed the Importance of having
highly trained investment officers
in the banks. The most important
change in commercial banking in
recent years is the decline in the
lending function and the increase in
investment operations, he said.
The place of business loans, he
added, has been taken largely by
investment, and to small extent
by capital loans and by personal
and consumer loans.
Institute Plans Debate.
Washington Chapter. American
nf Do
annual public-speaking contest in
the chapter rooms on Monday eve
ming, March 10, it was announced
today. The prizes offered are the
Bank Presidents Cup and the right
to represent the chapter in the A. P.
Glannlni National Public Speaking
Contest.
The Bank Presidents Cup is pre-
sented by the presidents of the
Washington banks. All members of
the chapter may compete. In the
national contest the contestants
must be holders of institute stand
ard certificates and have at least
three years banking experience.
The winner in the chapter con-
test will meet the winners in other
chapters in this territory. Those
getting into the final contest will go
to the national convention at Grand
Rapids, Mich. in June The debate
subject is THE Banks Place in
Meeting Today's Credit Needs"
The chapters Public-Speaking
Committee includes Vernon w. Hill,
Security Savings & Commercial
Bank: j. Kennedy 1relan, Washing
ton Loan G. Trust Co.: j. Earle Nc
Geary, w. B. Hibbs & Co., and AL
fred w. Sherman, American Sc
curity g. Trust Co.
Railroad Earnings Gaining.
Nineteen Glass I railroads, repre-
sentlng 64.3 per cent of total op-
Grating revenues in the Southern dis
trict, had estimated operating rev.