Evening star., 1942-11-15

former President Herbert Hoover.
He saw overseas service in the World
War and upon return to America
was assigned to special war savings
duty by the United States Treasury
Mr.. Eaton has lived in Washing
ton for many years. He is a men,
Der of the Chevy Chase Burning
Tree and Metropolitan Clubs.
Banking Hours Unchanged.
Washington banks will remain
open late tomorrow afternoon for
the last big payday under the Gov
ernment's present schedule of pay
ing employees. The new system,
which spreads the load over 20 pay
days, starts on Tuesday of this week.
After that date bankers believe
there will be no special reason for
keeping open late in the afternoon
on. the 9th, 18TH. ,23d and last day
Of each month. The new plan of
paying about 10000 Government
workers IN cash instead OF by check
also will relieve conditions.
It is anticipated there will. still
be rush to banks on paydays, but
no such serious jams as have been
the order of the day for many years.
Any changes that may be made in
present banking hours will be an
nounced in few days, it was pre-
dicted in the banking district yes
terday. ~
The matter already has received
a great deal CT STUDY By a special
committee of members of the Dis
trict Bankers Association and by
Treasury officials,
Wholesale Trade Uneven.
The Federal Reserve Bank of
Richmond reports that net sales
of 2l4 wholesale firms in this dis
trict in September were 4 per cent
lower than year ago. Wholesale
trade is becoming more, and more
uneven, both sharp advances and
declines being disclosed.
Shoes had per cent increase,
drugs, II per cent; dry goods, 10;
groceries, u, and tobacco products,
80 per cent. Sales of automobile
supplies were down IL per cent from
the same month last year; hardware
sales dropped II per cent, indus
trial supplies, 1s; paper products,
20, and miscellaneous sales of So
stores, per cent.
Sales were 4 per cent ahead of
the preceding month. Less money
is being spent for consumer goods.
the report stated, as many types of
merchandise are now entirely off the
market.
Christmas Savings Due Soon.
Maryland banks will distribute
about $8,000,000 in Christmas saw
1ngs at the end of November, &C
cording to the annual report of Her
bert F. Rawll of New York.
Virginia banks will distribute
about S10,000,000 to their Christmas
Club members, while West Virginia
will pay over $2,9O0,00O. 1t is esti-
mated that eight South Atlantic
States and the District of Columbia
Will pay $39,Q00,000 to members, this
sum to be a very important factor
in holiday trade.
In Washington $3.50 members
joined Christmas Savings Clubs this
year which have been conducted by
19 banks. They subscribed 1924, $50.
AS some members never complete
their payments the distribution will
be IN the neighborhood of $4,000 900.
Financial District Comment,
George LinSenmeyer. formerly of
the United States Veterans Admin
lstration. has joined the sales force
OF Smiths Transfer & Storage Co.
On the Boston Stock Exchange
Friday 146 shares of Mergenthaler
Linotype sold at 35ta, same as the
last sale on the Washington Ex-
change.
There are so many stockholders
IN the Rutland Railroad Co. in this
vicinity that, future board meetings
will be held in the Capital.