Evening star., 1942-10-19
{. & P. Phone Call,
And Stations Set
September Records
Increase Of 46,753
Telephones in Year
Due to War Effort
BY EDWARD C. STONE.

peake & Potomac Telephone Co. Of
ficials announced today.
At the end of September there
were 352,702 phones in use, an in
crease of 1885 over August, and a
jump of 46,753 over the total of 305,-
949 in September a year ago, the
report revealed.
Average calls per day stood at l.
508,841, against 1,432, ,205 in Sep
tember a year ago, the report add
ed. This was by far the highest
figure for any September on record,
but was not up to some of the earlier
months this year on account of the
requested limitation on certain calls
not connected with the war effort.
The feverish war activity in the
Capital is reflected in both sum-
maries. The September results make
the third quarter an outstanding
period, although expenses are
known to have cut heavily into
operating revenues.
Banks Assets $338, 8,104,0 900.
The controller OF the currency's
printed report giving the condition
of national banks on June 80 shows
that these nine banks in Washing
ton had loans and discounts
amounting to $63,932,000 on that
date, held Government obligations
of $685. 900 and had total assets
of 1898, ,1O4 1000.
The nine banks reported demand
deposits of $214,80O,000, time de-
posts of $52,7O5 600, Government
and Postal Savings deposits of
$1,344,OOO and total deposits Of
$314,5OS, 600.
The same banks reported $780,
900 in capital stock, surplus of
$7,750,OOO and undivided profits of
$5,427 900. The national banks re-
ported $13,744,0 900 in loans on resi-
Dental properties and $5,620,000 on
other properties the survey shows.
Women Buy More Insurance.
In keeping with the increasing
role women are playing in the Ma
tons war program life insurance
purchases by women are showing
material increases. it is reported by
the Life Insurance Sales Research
Bureau.
Analyzing the recent buying hab-
its of the women the bureau states
that IS per cent were buying their
first life insurance. Half of the
women were married, go per cent
of these being housewives and 40
per cent married women at work.
OF the total 81 per cent were
housewives, % per cent Office work.
ers, 10 per cent machinists and
other workers in manufacturing
plants, 7 per cent students, per
cent hairdressers, mattresses and
servants.
General Credit Expands.
A. Burke Summers, president of
General Credit, Inc, in the Hill
Building, announced today that the
company has bought all outstanding
Washington receivables from the
Colonial Finance Co., after negotia-
tions lasting several weeks. General
Credit, Inc, is Washington auto
mobile finance company.
The home Office of the Colonial
finance Co. is Lima, Ohio. The con-
Germ opened Offices here about five
years ago and engaged actively in
the handling of automobile dealer
finance paper. The company is now
diScontinuing all service in this
territory.
Mr.. Summers stated that recog-
nizing the coming curtailment in the
automobile finance field General
Credit, Inc, began more than a year
ago to diversity its activity and enter
outside fields of finance primarily
dealing with the factoring of ma
chine tools, defense housing and
other industries engaged in the war
effort.
d. G. Insurance Sales Lower.
Sales of life insurance in the Dis
trict in September recorded another
slump from year ago, the Life In
surance Sales Research Bureau at
Hartford reported today.
The drop was % per cent. Sales
amounted to $3,984,000 this year
compared with 5,247 900 in Septem-
ber, 1941, a, decrease of 81 1858 ,000
the sharp reduction being due to the
fact that so many agents have gone
into the Army and to the insurance
offered by the Government to men
in the armed services.
In the first nine months of this
year life insurance sales in the Cap
ital amounted to $45 ,298, 900, off only
percent from the like 1941 period.
Folger at IBA Meeting.
j. Clifford Folger, partner in the
firm of Folger, Nolan & Co., is at
tending the tWo-day annual meeting
of the officers and directors of the
Investment Bankers Association of
America in New York. About 400
investment bankers were expected.
Mr.. Folger is slated to be re-
elected one of the vice presidents of
the association at tomorrows elec-
ton. Jay N. Whipple, a Chicago
investment banker, is slated for the
presidency.
Washington Gas Common Up.
Washington Gas Light Co. COM
mon stock moved from 15& up to 16
on the Washington Stock Exchange
today. Four 10-share sales and one
six-share transaction were recorded,
the sales being ex-dividend. The
market closed with 151z bid and
1872 asked.
Washington Railway & Electric
common, highest priced stock on the
board, is now being quoted at $3.50
share bid and $500 a share asked.
Further study was given at the
Treasury today to the REIMBURSEMENT
of banking hours to meet the Gov
ernment's new plan of having 20
paydays "a month, starting on No
vember 16. Plans are still tentative.