Evening star., 1943-03-16
New High Mark Set
By Washington Gas
Sales in February
Total Slightly Above
Year Ago. Months
Record Also Seen
BY EDWARD c. STONE.

ruary established another all-timt
sales peak for that month and helped
set a new record for the first two
months of any year in the company!
history, officials announced today.
February sales totaled 2,138, 50;
thousand cubic feet, as compared
with 2,12600 in the second month Of
1912, a modest increase of 1858;
nncf or 0,59 per cent
Sales in the first two months ot
l943 totaled 4,340,724 against 4,l51,-
AT in the like 1912 period, a gair
SO far this year Of 189.397 mcf.. OF
456 per cent. today's report said
With the exception of January OF
this year, gas sales in February were
the largest ever recorded by the
company in any single month. The
gain continues the sharp uptrend in
1912 when sales reached 1891 III
mcf, a notable increase of 2354.584
mcf. over 194l.
10000 900 Bank Accounts.
Contrasting March, 1943. with the
hectic banking situation of 10 years
ago, Chairman Crowley of the Fed
eral Deposit Insurance Corp. says
deposits in commercial banks are
now at an all-time high of S90,00O,-
100000 held in 70,000.0O0 accounts,
the safety of which is unquestioned
The earnings and profits outlook
Tor most Of these banks is good. Even
after the banks pay increased taxes,
their profits will probably be main
tanned and may increase substan-
italy, Mr.. Crowley asserted.
He expressed the hope that banks
will keep a large proportion of any
increased profits in their capital &C
counts Then they will be in a posi-
ton, when the war is over, to renew
normal business and to finance the
conversion of ldustry to time
activities,
Survival of the system of privately
owned banks is dependent upon the
assumption Of reasonable part of
the risks involved in making loans
to individuals and business enter
prises When such risks are shifted
to the Federal Deposit Insurance
Corp, increased Government super
vision becomes necessary. Mr.. Crow
ley commented.
Virginia Banks Hit Hard.
The Virginia Bankers Association
reports that 26 per cent of the en-
ployes in 204 reporting banks have
entered the war effort. OF the 2,535
officers and employees in these banks,
COG have entered the military service,
the report says. Personnel officers
have replaced a great many of these
losses by the employment of women.
DepositorS' balances in the Postal
Savings System reached the high
total of 81, 445000.000 at the end
of January, the Treasury has an
nounced. This compares with
S1.3l0,0 100000 for January, 1912, an
increase Of S135, 100000.
c. T. ONeill, vice president of the
National Bank & Trust Co, Char
lotteSville, Va. has been appointed
chairman Of the American Bankers
Associations Federal Legislation
Subcommittee on Agricultural Cred
it. He testified before a congress
sional committee recently, expressing
himself as very much opposed to
unnecessary Federal bureaucracy.
He considers that revival of the
Rural Agricultural Credit Corp. is
not needed and duplicates other
agencies.
Thiokol Stock offered Here.
The Washington Office of j, G.
White & Co. today offered 93,759
shares of Thiokol Corp. common
stock at IS per share.
The company is interested in the
development and production of syn
thetic rubber, was organized in 1880
and claims to be the oldest concern
in the country engaged exclusively
in this line of business.
Much of the work of production
has been carried on in the plant Of
the Dow Chemical Co.
Associated with j. G. White e. Co.
In the Offering are Johnston, Lemon
& Co. and Auchincloss, Parker s.
Redpath.
Riggs Common Up 10 Points.
On a very small scale. Riggs Ma
tional Bank common stock reached
$50 on the Washington Stock EX-
change today. The stock sold yes
terday at 256Hz and has jumped 10
points on the exchange this year. as
the first 1943 transfer was made at
$50.
The bull market" on the exchange
continued today with Mergeithaler
Linotype scoring another new 1943
high mark Five shares sold at 40
Capital Transit moved up to 31a4,
highest price Of the present year.
The last previous sale was at 81 y
A single share of Woodward & Lo-
throp preferred came out at 100. off
two points
Peoples Drug at l943 Peak.
Peoples Drug Stores common was
among the 1872 issues that reached
new 1943 high marks yesterday on
the New York Stock Exchange The
stock sold at 1917. up an eighth
Mergenthaler Linotype sold at d 3.
o. the Boston Stock Exchange yes
terdaH. down fractonally from the
last sale, The turnover was &C
shares.