Evening star., 1940-07-17

I6pOTleQ JUNE TlSe Vi La per CeIll,
and half-year move of / per cent,
the best sectional showing in the
United States.
Comparisons With Last Year.
So far In 1910 sales in Washington
compare as follows with the CORE
spending months in 1899.
1940 1899.
January ------ $4,671 900 $7,183 900
February ----- 4.624,000 4,628,000
March --. 5,031 900 5,240,OOO
April 5,76OO0O 1884 900
May ---- $3.50 900 4,836 900
June - 6,565 900 5,481 900
Virginia scored a better gain than
the District of Columbia, total of
S8,73l, 900 in new policies, being
% per cent ahead of last year. Vir-
ginias half-year sales reached $45,-
485 900, rise of per cent over last
year.
Maryland was also one of the lead
ing States, reporting 16 per cent
June gain on new policy volume of
$9,248,000. Business in the half-year
amounted to $48,745 900, off per
cent from the like 1899 period
West Virginia enjoyed a substan-
tial II per cent gain in June, volume
reaching $4,353, 900, while policies in
the first half-year totaled $27 ,891 900,
within 6 per cent of the figure a
year ago. On an $8,000000 total,
North Carolina was up l per cent
in June, while South Carolina, on
total of $4,032 900 in June, was up
per cent
Among leading cities, st. Louis
reported a June upswing of 10 per
cent. Cleveland matched Washing
ton with an ID per cent upturn and
Los Angeles boosted business by
II per cent, the monthly review
concluded.
Further Prosperity Forecast.
A. M. McLachlen, president of the
District Bankers Association, today
predicted further substantial growth
in prosperity in the Capital as a
result of the recent increase in
population reported by the Bureau
of the Census
The growth in population of the
District of Columbia to an all-time
high figure OF 663, ,153, as shown in
the recent census report, will un-
questionably result in greater busi-
ness activity and prosperity, he said.
Banks will share in the increased
activity and are prepared and
anxious to do their part in meeting
the requirements of a growing COM
munity. Deposits will continue to
increase and there will be a greater
demand for loans of all kinds as
well as for the many other services
rendered.
Building and general trade VOL
umns should expand and this sub
stantial and probably continuing
growth in population in the District
should mean greater prosperity in
all lines of mercantile business, Mr..
McLachlen concluded.
Condition Reports Published.
Condition reports of 81 of the %
Washington banks and trust COM
panies, which appeared in The Star,
following the Controller of the Cur
rency's recent call, dated June 20,
1910, have been assembled and pub
lished by The Star in pamphlet
form.
The booklet includes an analysis
of the banking situation in Wash
ington and pictures the very sharp
deposit gains in recent years. an
increase of more than $6O,OOO 600
In the past year alone. Reasons for
the steady deposit growth are also
presented.
The booklet, which is published
after every bank call, has proved
very popular among bank officials
as we'll as with host of business
men and investors Copies are avail
able on request to the advertising
director of The Star.
Southern's Earnings Gain.
In the first five months of 1910
the Southern Railway earned 78
cents per share on the 5 per cent
nor-cumulative preferred stock,
compared with a net loss of $685., 3,39l
in the first five months Of 1899.
Holders of American Telephone
IL Telegraph stock received the Sec
ond-quarter dividend checks this
week, for $2.25 per share. At the
same time the company announced
gain of 449,000 telephones in the
first half year, against $4,000 year
ago.
The Washington Office reports that
directors of the Home Life Insur-
ance Co. of New York have elected
two new directors, N. Baxter Jack
son, first vice president of the Chem
1cal Bank & Trust Co., New York,
and Walter Hoving, president of
Lord & Taylor.
B. c. Marbury, Washington rep
resentative of the Lincoln National
Life Insurance Co., ranked fifth
among 1,500 salesmen in the amount
OF new business paid for in June on
the lives of old policyholders.
General Electric's stockholders on
June 20, record date for the July Is
dividend payment, totaled 211,117,
an increase of 1,137 over the number
in June, 1889.
Exchange More Active Today.
In more active trading on the
Washington Stock Exchange today,
Washington Railway & Electric Is
registered $4,000 transfer at 108,
up half a point
Georgetown Gas IS appeared on
the board for the first time this
year, a $500 bond moving at 116.
Potomac Electric Power per cent
preferred stock figured in a small
sale at 113 and so shares of Capital
Transit changed ownership at 1914
Washington Gas common and
Riggs National preferred are now
being quoted ex-dividend.