Evening star., 1941-03-04
DC. Postal Receipts
Highest on Record
For February
Months Totul Shows
1903 Per Cent Gain
Over Year Ago
BY EDWARD C. STONE.

revenues at the CITY EOSC once
in February smashed all previous
records for that month since the
Office was established. it was Off
cially announced today. February
receipts totaled $727 ,323.04, in COM
parison with $626,825.78 in Febru-
ary, 1940, startling increase of
$100,497.26, or 1903 per cent, Off
cias stated.
Not only does this figure set
new February total, but it comes
within $4,000 of reaching the De-
cember, 1884, total, which, of course,
included the Christmas holiday sea-
son, December always being the
biggest month in the year.
Today's report is similar to the
summary of postal receipts for
January, which also set a new all
time mark for that month. Revenues
added up to $705 ,80495, against
$672 ,27073 in January last year, an
increase of $33,53422, or 4.98 per
cent, Back in December the
monthly report had made the best
showing in the history of the
Washington Office.
February figures indicate a very
high state of business activity in
the Capital. The city'S growing
population is given as one reason
for the higher figures; general busi-
ness gains as another. Postmaster
Vincent c. Burke and his associates
have become almost dizzy trying to
keep up with the rising tide of new
records in recent weeks.
One other equally favorable Feb
ruary report has already appeared,
bank clearings in the Capital reach
ing $118,571, ,59716, an increase of
S25,418 40804 over February, 1910.
Washington Gas Net Drops.
Net income of the Washington
Gas Light Co. in January totaled
S219,172, compared with $241 1,203 In
January, 1910, a small drop of
S2203l, according to the last of
the monthly utility reports to be
filed with the Public Utilities Com
mission. The decrease was due to
the fact that the Capitals average
temperature was 10 degrees higher
in January this year than last and
to an increase of $4,000 in taxes.
Operating revenues amount to
S1,054,050, compared with s1,112,811,
the warm weather causing slump
in this item of $58,761 Operating
expenses, including depreciation and
taxes, called for $787,651, compared
with S813,158 in January year ago,
reduction in expenses of SIS 5,507,
leaving net operating revenues Of
$685. ,399, as compared with $299, ,653
last year, a decrease of $33,254.
Incorporating income increased
S9913 to a total of S21,212, while
income deductions we're 81 1,9l0 lower
this year.
The company reports gas sales OF
1,647 ,648 m. cubic feet for January,
a decrease of 1892 m. cubic feet,
compared with last year, due to re-
duced house heating sales because
of the weather. There were 167 ,623
meters in service in the District of
Columbia on January 81, 194l,
SIS per cent increase over the
same date last year.
The company expanded approx
mately $4,000 in January 1941 for
extensions to its property in Wash
ington.
Half Billion Defense Loans.
More than a half billion dollars
of commitments for defense loans
by 1876 of the country's larger banks
we're outstanding on December 81,
1910, President P. D. Houston of the
American Bankers Association, an
nounced today He added that
S247, AL Ala of S572,949, ,466 in COM
mitmentS was actually in use by
defense goods suppliers on that date.
Further surveys will show a sub
stantial increase in the figures, he
said.
The survey indicated that the
banks are making the great major
ity of their defense loans without
requiring the assignment of Gov
ernment contracts as security, al
though the taking of this assign
ment is permitted by law. Seventy
five per cent of the loans reported
we're made without assignment of
contracts.
Loans for supplies and equipment
accounted for the larger part of the
total. The 1876 banks reported 821
commitments for plant facilities and
other construction totaling S196,997,-
728, while they made 1893 commit
ments for supplies and equipment
totaling $283, ,589,691
In addition, they reported 677
commitments totaling $92, 1862 .047 in
the form of open lines of credit and
advances used for capital purposes
end capital requirements arising out
Of expanded operations of customers
contributing indirectly to defense.
The loans were made for a great
variety of defense goods, the list of
the typical bank running consider
ably over so items. These include
aircraft hardware, clothing, elec-
trical equipment, Diesel engines,
furniture, precision instruments,
lumber, metals, parachute silk, pho
tograph equipment, pumps, ship
ci4 Cdulp1llCI4G, l1uShS dllO LlldIly
other things.
Heard in Financial District.
Sidney F. Taliaferro, vice presi-
dent and trust officer of the Riggs
National Bank, received many good
will messages today from fellow
bankers on the occasion of his birth
day anniversary.
Kenneth Lafferty has been ap-
pointed Washington representative
of the Hotel Biltmore, New York,
with Offices in the Woodward Build
ing. For many years he has been
supervisor of the Eastern Office of
the Kansas City Life Insurance Co.,
with Offices in Washington.
Real Estate Insurance Co. stock
has been carrying a bid of 145 on
the Washington Stock Exchange for
several weeks. Suddenly the bid
has moved up to 155, with no stock
offered at any price. Columbia
Title, which has been quoted at 1914
bid for some weeks, is now quoted
at 1414 with 16 asked.