Evening star., 1942-02-03
D. {. Postal Receipts! lIl|!
Nearly IS Per Cent
Above Year Ago
All January Records
Broken in Rise to
$952,762 Mark
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Receipts a. the city post Office ir
January scared to new heights by
reaching $952, ,762.49, compared with
$705, ,80495 in January, 1941, an i'm
pressive increase of S246,957.54, OF
34.98 per cent, postal officials an
nounced today.
This postal revenue total shat
tered all previous records for that
month and all other months in the
year, with the exception of Decem-
ber, which includes the Christmas
holiday rush.
The biggest month in the history
Of the Washington Office, except for
Decembers, was highly pleasing to
Postmaster Vincent C. Burke and
his assistants. The total was less
than $4,000 from the million mark,
which has never been reached out
side of December, they pointed out
Today's report is in line with
postal revenues in the Capital in
December, which made history by
reaching an all-time peak for that
or any other month and also boosted
receipts for the full year 1941 to
the highest point ever recorded.
Receipts in 194l totaled S9,942,-
28I.12, against S8,596, ,856.70 in 1910,
a gain for the year of $345 APO AZ.
Population growth, great defense
activity, expanding pay rolls and a
reasons cited by officials for the
constantly mounting totals in pos
tai receipts They asserted today
that there appeared to be no rea-
sons why the present upswing
should not continue.
Fleming Lauds Bond Sales.
In his recent annual report to
stockholders Robert v. Fleming,
president CT the Riggs National
Bank. pointed with special pride to
the sales of Defense bonds and De-
fense stamps at the main office and
branches.
From May /, the day the defense
program was started by the Treas
ury. through December 81 total
of S5,439,755 in series E, F and G
bonds and stamps were sold by the
institution to 11,341 individuals,
firms and corporations. In addi-
ton the bank established a payroll
deduction plan for employees.
Elsewhere in his report Mr.. Flem-
ing noted the tremendous business
growth in 1941 in the Capital. He
said he considered rather remark
able the feat of the four big utility
companies servicing this area in
meeting the needle of this inflow OF
people They were extremely fore
handed in expanding their facilities,
he said
Mr.. Fleming reported substan-
tial gain in loans during the year.
AS has been the case for the past
eight or nine years, there was little
or no demand for loans secured by
stock exchange collateral, so that
the increase was mainly In business
loans, the type or credit most help
full to the community, he COM
mented.
Steels Top Disidends Gains.
The biggest dollar increases in
common dividends in 1941 were
made by the steel industry. whose
payments went from $75, ,725 900 to
$113,364 900; the petroleum COM
panies, from $191 ,039 900 to $685.
371 900; the aviation industry, from
28,574,0OO to $47,472 900, and the
rails, from S143 10000 to $160, ,640,-
900, says the Exchange Magazine.
Dividends in four industries-pub-
lie utility, chemical, automobile and
petroleum-bulk large in relation to
the rest of the stock list, 166 COM
panies in these industries yielding
nearly so per cent of all common
dividends paid.
The 1939-1941 industrial squirt has
now outdistanced the 1935-1937
prosperity. Approximately S6,22O,-
100000 was distributed on listed COM
mon stocks in the later period,
against SIS, ,79O,000,O00 at the earlier
time, the magazine says.
Bankers at Trust Conference.
About 20 Washington bankers are
attending the 23d Midwinter Trust
Conference under auspices of the
American Bankers Association,
which opened in New York today.
Among those attending are T.
Stanley, president of the District
Bankers Association; D. ]. Need
ham, general counsel of the A. B. A,
and j. o. Brott, assistant general
counsel. Richard c. Stockton,
Winston-Salem, N. c., head of the
trust division of the A. B. A, is
presiding at the sessions.
The program is built around trust
investment conditions in Wartimes.
Financial District Comment.
The very elaborate annual report
of Merrill Lynch, Pierce, Fenner &
Beane was distributed in the finan-
cial district today by George A..
Garrett, resident partner. AS noted
in yesterdays $50 Star, the big
brokerage firm had net profit of
$459,258, completely reversing the
results of the previous year. The
firm reports 1886 new accounts
opened during 1941.
Two especially active members of
the District of Columbia Building
and Loan League were, introduced
among the guests at the annual
banquet, William N. Payne, jr., i'm
mediate past president of the or
ganization, and Edward C. Baltz, a
former president of the United
States Building and Loan League.
The annual report of the Chemi-
cal Bank & Trust Co., New York,
shows 1927 stockholders, of whom
81 are in the District of Columbia,
1913 in Maryland and 81 in Virginia.
Deposits gained $129, 1913 900 during
the year.
Transit Stock at New High.
Capital Transit stock scored an
other new high mark on the Wash
ington Stock Exchange today when
20 shares sold at 235s, up rs points