Evening star. [volume] (Washington, D.C.) 1854-1972, 1944-01-02


gave an amaz- Edw. c. Stone.
ing amount of time and energy to
war financing. assuming a tremen-
dous burden at the request of the
Treasury.
In addition, they collected large
sums for the Government under the
pay-as-you-g tax plan, installed
ration banking and adopted late
evening hours for the cashing of
checks for Federal workers.
Despite the extra war work. Capt.
tai banks enjoyed one of their best
years from the standpoint of earn
if1gs. Officials expect profits will
exceed 1912 in many instances, re-
CARELESS of the dearth of construc-
ton loans, less installment buying
and increased operating costs.
Through war loans, service charges,
trust service and other income
sources, the banks paid regular div
idends, declared many extras and
distributed Christmas bonuses.
Banks Employ More Women.
The war personnel situation gave
banking institutions one of their
most battling problems. More and
more women have been employed
until the number on some stats,
excluding officers. has reached 80
per cent. Woman tellers have be-
come so numerous and efficient that
they no longer cause comment.
During the year building and
loan associations purchased Gov
eminent bonds in very large
amounts and greatly stimulated
War Bond buying among their
patrons. Their assets constantly
entered new territory as business
expanded, while they, too, adopted
late hours to accommodate Federal
employees.
Building and loan leaders dug
deep into postwar planning. Pre-
dieting building boom in the Capt.
tai after the war, they are already
prepared to meet the call for home
loans.
Investment Demand Improves.
Investment Arms experienced
much better demand for senior
issues than in 1912, had more Sc
curities to offer and made a great
many more sales. At the same time,
the Capitals New York Stock Ex-
change Offices reported a sharp up
turn in business. The volume of
trading, so dead during 1912. wit
messed a revival greatly needed by
the brokerage fraternity.
The Washington Stock Exchange
recorded year of strong prices, all
bonds in the list remaining far above
par, with the leading stocks retain
ing their high investment rating.
Trading volume, however, was I'M
der 1912.
One of the years features was the
greatly increased interest in WASH
ihgton department store stocks as
two leading issues became much
more widely distributed among in
vestors.
Clearings at Time Peak.
The year 1943 saw bank clearings
In the Capital exceed all former
records. Check transactions reached
$1,975, 403, 348, a gain of $102,474, 319
over 1912. Bankers cite these figures
to show 1913 as one of the best bust
ness years the city has known.
Receipts at the City Post Office
piled up record on record, revenues
during II months climbing to S12,-
208, 460, a jump of $1,613,863 over
1912. Express shipments, another
first-class business barometer, to-
tailed 1885,. 1868 in II months, an up
swing of 253,493 packages, and also
q new peak.
Life insurance sales told the same
story, new policies in the District
In the same II months amounting
to s58,542, 900, compared with $50
$4,000 year ago, up 8 per cent.
D. C. Store Sales Top 1912.
Despite shortages in some lines
OF goods, department store sales in
Washington scared to new high
marks. Christmas trade was star
ting in volume. Sales in the first
ii months were per cent ahead of
1912. the Richmond Reserve Bank
reported. IL was a year merchafrG
will not soon forget because of diff
ficulties encountered in obtaining
both help and goods.
The Capitals four big public
utility corporations rendered peak
wartime service, registering the
highest operating revenues ever
known, but were hard hit by taxes
and other rising expenses. The
years earnings will be highly IA
vorabie, close to the 1912 marks, or
better. The Capital Transit Co. car
ried 381 ,516,69 in IL months, an
increase Of 68,198,238, or 2l.8 per
cent, over 1912.
And what about 1914? Wartime
activities and the Government pay
roll assure the Capital Of another IL
months Of epoch-making financial
IL