Evening star., 1942-07-02
June Postal Receipts
In Capital Reach
New High Mark
Income for Six Months
And Fiscal Year
Also at Peaks
By EDWARD c. STONE.


reports are reflections of the Capt.
tails unprecedented activity due to
the global war.
Y Postal receipts in June amounted
to S898,625.89, compared to $762,-
M15.A0 in June, 194l. an increase
SDf s136,2l049, or 1877 per cent, Of
ticials reported. g
1 Revenues in the first half-year
reached $5,46O,645.87, against s4.-
S26,354.34 in the like 1941 period,
an increase of 1894 ,291 SO.
Z In the fiscal year ending June 30,
Receipts at the City Post Office
climbed to $10,875, ,565, a gain over
stfe previous fiscal year of $1,733,2 ,240
This was the first year in which
ipostal receipts here crossed the
$10,000000 mark. incidentally, to-
days June postal report follows the
June summary of bank clearings
which also disclosed a sweeping in
grease over last year.
! Postal revenues in the first six
months of 1912 compare as follows
with the like months in 1941:
! 1912. 1941.
January ---- 1852, ,76249 $7O5, ,SO4 s5
February - 871.31347 727, ,323O4
March ---- 917030.8O 759,1O5.O2
sApril -- 903 ,58497 794, ,56460
sMay 916,32825 777,141.33
dune ----- 898,625.00 762,4l500
Sssy Drury Praised as Banker.
The death of Peter A. Drury, for
Hler Washington banker, at the
sGeorgetown Hospital, aged II,
Haused deep regret among the older
tbankers in the financial district
with whom he was closely associated
Aor many years. He had been out
Hf banking II years, retiring on ac-
iAount of his health.
~ He had a long and successful
career as a banker. Organizing the
Merchants & Mechanics Bank of
Washington in 1904, he served as
president until 1906; then organ
ised and became head of the Ma
tional City Bank of Washington,
holding the presidency until 1916,
when he organized and was elected
president of the Merchants Bank,
afterward the Merchants Bank &
Trust Co.
This bank eventually merged with
the Federal-American National. For
a time after his retirement, he was
chairman of the board and Rolfe E.
Boiling was president. Mr.. Drury
had burning ambition to head a
bank with $4,000 900 deposits, that
figure being reached by his institu-
ton the day before he announced
his intention to retire.
Mr.. Drury had an unusually large
circle of friends. He held philoso-
ply that any one could accomplish
anything he wanted to do, provided
he concentrated hard enough or
the goal. He proved the assertion
in his own career, as he started with
nothing and gained high position.
Rail Earnings Up Sharply.
Glass I railroads in the Southern
district in the first five months OF
this year had an estimated net in
come, after interest and rentals, OF
S45 100000, compared with $27 ,549,-
$50 in the same period last year.
The same roads in the five months
Had net railway operating income
before interest and rentals of S73,-
E23, ,497, compared with S55, ,787 1866
in the same period of 1941.
/. Operating revenues in the five
months totaled s379 ,222,681, an in
crease of 395 per cent compared
with the same period in 1941, while
operating expenses totaled $240,-
277,248, an increase of 308 per cent
above 1941.
!. Glass I railroads in May alone
had an estimated net income after
Interest and rentals of $12,400,000
compared with $5,642,009 in May
l941. Net railway operating income
before interest and rentals in May
arounted to S18,462,l44, compared
with s11,572, ,705 in May, 194l.
& National Dairy Sales Gain.
!. Sales by National Dairy Products
Corp. so far in 1912 have beer
Substantially higher" than in l941
but war restrictions are being fell
increasingly by the company anc
the dairy industry generally, Thoma'
q. McInnerney, chairman of the
board, and L. A. Van Bomel, presi-
dent of the company, say in letter
to stockholders.
To aid people in carrying out thei
War bond pledges the savings bank
of New York State are offering tWt
types of special War bond saving
accounts. These accounts, which
are offered without charge, provid
for systematic savings of smal
amounts Of money and the purchas
of War bonds each time sufficien
balance has been accumulated.
= Realty Bonds Off Slightly.
NDuring June, the Amott-Bake
Real Estate Bond Averages, cover
ing 200 securities including severe
Washington issues, declined 06 pc
cent. The average price per 81 ,0O
bond was 1907 on June 80 com
pared with 5000 on May 80. TIL
year to date shows a gain of
per cent.
The slight decline in May was du
chiefly to a drop in the averag
price of New York Office buildin
issues. In the year-to-date re
suits, the group Of miscellaneous is
sues made the best showing, up 2
per cent. In that period Philade
phia issues advanced more than
per cent.
Hotel issues still show the be
year-to-date gain with an advant
of 4.3 per cent. Apartment hote
remain the only group to declir
since the first of the year, such d'
crease amounting to 8.4 per Ger
the review says.
Today's Trading on Exchange.
Washington Gas Light commc
opened trading on the Washingtc
Stock Exchange today with 2
shares selling at IA, unchanged.
Potomac Electric Power 5l2 p
cent preferred came out at 114l2,
half point.
Washington Gas $3.50 preferr'
registered 10 and Is share sales
9212. The new Gas $5 preferred q
not come cut; 100 bid, 102 asked.