Evening star., 1941-04-02
D. T.. Postal Receipts
AT New High Mark
During March
$759,l05 Totol Compares
With S698, ,348 for
Same 1910 Month
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Shattering all previous records for
March, revenues at the City Post
ONCE climbed to S759, ,l05.02 against
s698, ,24S.6l in March, 1910, an in
crease of $50, ,756.41 or $40 per cent,
it was learned today from postal
officials.
Today's March summary followed
new high record in January and
another all-time peak in February
postal revenues, when a SurpriS-
ing gain of more than 100000 was
reported, in comparison with the
total income for February 1910.
The three record months resulted
in a total income for the first
quarter of 1941 which has never
been equaled. In the first three
months of this year postal revenues
amounted to $2192,232 compared
with $1,997,443 in the like 1910
period, a gain of $194,789 so far this
year.
The March figures from Postmas-
ter Vincent c. Burke'S headquarters
indicate that business in the Capital
is constantly entering new ground,
as postal receipts are considered one
of the best barometers of mercantile
activities.
The summary supplements other
reports of very heavy Easter trade;
also reflects recent gains in popu-
lation. BY months, District postal
receipts compare as follows with
the corresponding months in 1910:
1871. 1910
January -$7058 804 $672,270
February ------ 727,323 626,825
March - 7591O5 698 ,348
Capital Transit at New High.
In lively trading on the Washing
ton Stock Exchange today, Wash
ington Gas Light preferred sold at
104, off fractionally from the last
sale. Washington Railway e. Elec-
trio preferred came out at III, also
fractionally lower than the last sale
Mergenthaler Linotype figured in
q 10-share sale at 2ll4 unchanged
Capital Transit appeared on the
board in 10-share sale at II, new
high for the present year and con-
siderably longer period.
Garfnckel common registered two
100-share sales at 10s4, around re-
cent levels, and the market colsed
with 20 shares of Lincoln Service
Corp. common changing hands at
1512, unchanged.
Stock Units Draw Attention.
Investment dealers in the finan-
cial district are much interested
h Washington Railway & Elec-
tric common stock units which are
being received here as a dividend
by holders of North American Co.
common stock.
Over the week end these units
were quoted in Washington at 154
bid and 17a4 asked. So far, the
issuance of additional units has
caused very little change market
wise in the quotations over the
counter. Since the dividend was
first announced. the quotations
have worked a little lower.
North American stock is held
all over the country so that the
units have been sent everywhere.
It is believed here that holders in
many other places will want to
convert the units into cash and
that many of these outside units
will eventually get to Washington.
There is lively demand for them
here as they are considered a good
investment by many Washington
tans.
Bache Distributes Rail Data.
The Washington Office of ]. S.
Bache & Co. is distributing a very
interesting review of the railroad Sc
curitieS situation. The review an
swers 10 questions on market values,
issues now considered to be the
most promising, recent increases in
traffic and the benefit to the rail-
roads of the armament program.
The review states that some rail-
roads are in a position to benefit
their stockholders by their increased
earnings and are not putting any,
where near all their funds into i'm
provements. The railroads may have
to pay higher prices for fuel and
equipment, but no prohibitive in
crease in costs Is expected at pres
ent.
The labor problem for the railroads
does not seem more serious than
that for industry in general. The
brokerage houses takes the position
that many rail securities offer better
short-term opportunities as Specu-
lations than as long term invest
ments.
Bank Club Plans Forum.
The Hamilton Bank Club, COM
posed of both officers and employees
of the bank, will have a forum and
dinner meeting at the Kennedy
Warren tomorrow evening, starting
at $50, variety of banking mat
ters being set for discussion.
z. M. Miller, club president, will
preside: Paul v. Donovan, educa-
tional chairman, and Edward C. Hal
DdCIl, 6IlL6I GdllllIlcllG CIIdll uldIl, al .
ranged the program, while Miss
Katheryn E. Bowers will lead the
forum discussion.
GeseIl Leaves S. E. c. Post.
Gerhard A. Gesell has resigned as
special counsel for the Securities
and Exchange Commission to take
up the private practice of law here.
He has Joined the firm of Covington,
Burling, Rublee, Acheson g. Shorb
as a junior partner.
AS technical assistant to the chair
man of S. E. c., Mr.. Gesell conduct
ed the commissions investigation of
life insurance companies for the
Temporary National Economic Com
mittee. He was chiefly responsible
for the recent report and recon-
mendations for limited Federal
supervision of life companies.
Heard In Financial District.
State and municipal financing for
March aggregated S101, ,103, 1886 as
compared with S87,005,559 during