Evening star., 1941-11-17
Telephone Stations
SET New D. T.. Record
During October
Average Daily Calls
Also Establish Peak
In Company History
BY EDWARD G. STONE.


Mirroring the rapid population
growth and present booming busi-
ness conditions in the Capital, the
Chesapeake & Potomac Telephone
Co. rang up two new records il
October-one in the number of tele-
phones in Use and the other IN
the average number of daily calls
according to latest reports from
company officials.
The number of phones in service
reached 3l1,028 during October, the
largest number of stations IN the
history OF the company and record
gain of 5,10l over September. In
October a year ago there were 269,-
68l telephones in the city. which
means a gain of 4l,347 stations in
IL months. The 3O0,000th telephone
was installed in August of this year
and the number has been stepping
up steadily since that time, as 1t
did earlier in the year.
The number of calls per day
averaged 1865 l67 during October
beating the all-time September
record by moderate figure. A year
ago in October daily Calls averaged
1.23O.378, which makes the october
record this year the more impress
sive as q. reliable indicator OF busl-
ness activity here.
Mergenthaler Profits Jump.
Mergenthaler Linotype earnings
scored a sensational jump during
the past year, according to the an
nual report reaching Washington
today.
Net profits of 81 l,387,570 were re-
ported for the year ending Sep
tember 80, 194l, after provision OF
100000 for Federal normal and all
increased taxes.
This is equal to $3.50 per share on
the outstanding stock, in comparl-
son with only SAL 450 in the previous
year. or II cents per share.
Trust Committees Appointed.
J. Wesley Clampltt, jr. chairman
of the fiduciaries section OF the
District Bankers Association, an
nounces appointment Of the fol-
lowing committees:
Trust law and legislation-Her-
man G.. Lauten, chairman; William
S. French. jr.: Erskine Gordon,
Arthur C. Keefer. R. H. Yeatman,
William B. Wolf, Irving ZIrpel and
Sidney F. Taliaferro.
Standardization-William G. Nc
GraW, chairman; Warren MuSs-
baum. Robert P. Hid, c. D. Rat
clife. Stanley D. Willis, Henry w.
Bransom and Kenneth F. Brooks.
Trust investments - Edwin B.
Shaw. chairman; Bruce Frantz.
Nelson J. Foster, John S. Warner,
A. j. Byrne, Ralph Wilson, Frederick
L. Church.
Publicity - Bernard L. A m s S,
chairman: Robert K. Stuart, Doug
las R. Smith.
Taxation-Bruce S. Cotton, chair
man: William F. Price, Ralph How
ard, E. A. Dent, jr.; William Rea,
Arthur Linn, Thomas Grant.
Program - Aubrey o. Dooley,
chairman; Melville w. Stuart, Frank
M. Perley, William V. Simmons.
Nominating - Thomas Reynolds,
chairman; Henry K. Dierkoph, Earl
G. Jonscher, Aubrey o. Dooley. Les
ter A. Lawrence. Vincent A. Sheehy,
jr.; j. w. Clampitt, jr.
Inventory Caution Urged.
Business firms must guard against
inventory boarding and the risks
that such a policy carrles, says
Henry H. Heimann, executive man
ager of the National Association OF
Credit Men, in his monthly review
received here today.
IN cases where firms higher
inventory figure represents a real
need for extra goods because OF IN
creased business" he points out,
there can be no criticism. But 1t
Is undoubtedly true that there have
also been many instances of lnven-
tory boarding, stimulated either by
a fear of rising prices or a desire TO
develop an extra profit margin when
the time for the sale of goods ar
rives.
TT has long been apparent that
the rush for inventory in the hope
Of beating the price rise IS a power
full force in stimulating continually
higher price levels. The rising in
ventory situation is also at least
partially responsible for the increase
in commercial loans Of banks. which
recently reached total almost two
billion dollars higher than a year
before. according to Federal Re-
serve reports.
THE shrinkage in inventory
values after World War I has been
estimated as totaling from five to
ten billions of dollars, and figures
for the year following the 1929 col
lapse have been placed at close to
five billion dollars
Banks Get Registration Forms.
The Federal Reserve Bank OF
Richmond has sent to all member
banks in the Fifth District the blank
forms on which registration state
ments should be filed by all 1nstl-
tutions making instalment loans TO,
consumers under the so-called Regu-
lation w. Registration must be car
ried out on or before December
Just who must register is explained
In detail in the Federal Reserve no.
tice.
S. f. c. Hearings Delayed.
The Securities and Exchange
Commission has postponed unit
January II the public hearing IL
connection with the National AS
sociation of Securities Dealers ac
ton against some members for al
legged violation of the terms of tn
selling agreement used in distrlbut
ing an issue of Public Service of In
diana bonds. The hearing had beel
get for today. No reason was glvel
for the delay.
Many Washington members o
the association are deeply inter
ested in several of these fair prac
tices" cases.
Practically all the conversation Il
the New York Stock Exchang
Offices today related to the labo
situation at the coal mines. Broker
ord cpctop1erS 1Ook for little markP