Evening star., 1946-02-03
D. {. Postal Receipts
11.8 Per Cent Below
Year Ago in January
BY EDWARD C. STONE.

a lib per cent decrease from the
same month a yea rago, Postmaster
Vincent c. Burke announced yester-
day.
Revenues in January this year to-
tailed 81 1896, ,595.79, against $780,
602.62 in January, l945. a drop of
Sla6, 6,006.83, Mr.. Burke reported, add
ing that the modest slump was due
to the letdown in overseas mail re-
sulting from the end of the war.
However. the January figures were
well ahead of the January results
two years ago when revenues
amounted to 81 1,123, ,09125. Yester-
days report was the first since MIR.
Burke announced gain of $1,570,-
692 in postal receipts for the year
1S45 when income climbed to $18,-
38l, ,724.39.
Two New Officers Elected.
Directors of the Northeast Build
ing Association have elected Julian
F. Belf1eld, supervisor at the Benja-
min Franklin Post Office, vice presi-
dent of the institution, Secretary
Raymond c. Williams announced
yesterday.
At the same meeting, Jack Riley
was elevated to the post of treas
urer. following his discharge from
the Navy after nearly three years
service in the South Pacific.
Secretary Williams stated that as
sets had expanded to S4,30O0OO,
highest ever recorded.
Woodward Stock Moves Up.
Woodward & Lothrop common
stock closed the week at 80 on the
Washington Stock Exchange, a new
all-time high mark, and rise of six
full points since the stockholders
voted on Tuesday to buy the Palais
Royal store.
The common stock has advanced
80 points since the low mark of so
In l945. 1t opened the present year
at 65 and has improved steadily
since then. The stock appeared in
Thursdays trading on the exchange
at 1872, first sale of the week. It
closed Friday with 10 bid and 81
asked.
The rise in the stock is based
largely on the assured expansion in
sales, brokers said yesterday.
Tax Checks Boost Clearings.
Income tax payments on January
Is played vital part in pushing
Capital bank clearings in January
ahead of the December total by
81 SOC, 900. bankers asserted yester-
day.
Financiers said they found 1t
difficult to explain the fact that a
new alltime high mark of $257 $50 1877
was made in the first month of the
year. In the past there has often
been a letdown in bank clearings
from December through January.
Weekly reports indicated that de-
partment store sales were very heavy
in January, another reason for an
increase in Cancelled checks. The
continued rush of all postwar busi-
ness must account for the rest of the
rise, which caused a gain of nearly
$4,000 900 over January, 1945, said
bankers.
Insurance Lectures Planned.
Eugene Young, chairman of the
Educational Committee of the In
Surance Club of Washington. yes
terday announced that a course in
sales features of fire, marine and
casualty insurance will be opened
tomorrow evening at the Chamber
Of Commerce Building and con-
tinue for II weeks. The lectures will
be given by leading insurance agents
and branch managers, and are open
TO any one interested in these SUBJ
Iects.
The District Life Underwriters As
sociation, H. C. Cochran Fisher,
president, is pushing plans for the
Joint Sales Conference with the
Baltimore underwriters to be held
on Wednesday, February, 20, at the
MayfioWer Hotel. The program will
present leading insurance speakers
In this territory and the committee
already predicts a record attend
Rnce.
Banks Urge Careful Spending.
Details from the annual report
of the National Association of Mu-
tual Savings Banks reveals an in
crease of $4,000, 100000 in deposits
In l945 and a gain of 581 1893 de-
posltors. The average account was
sl.104 and the average interest rate
1.68 per cent.
President I. w. Roberts is much
Impressed with the advance inl
peacetime thrift. He hopes this will
continue and urges very careful
spending as the best curb on in
fation.
The American Bankers Associa-
ton has made Ben N. Jenkins.
now president of the National AS
ISOLATION of Bank Auditors and Con-
trollers, an ex-officio member of the
Bank Management Commission.
Financial District Comment.
Samuel @. Spear, former director
OF the division of storagea for the
Once of Defense TRANSPORTATION
has been appointed to the WASH
lngton staff of the American Ware
housemen's Association. He will |
write history of warehousing dur
ing World War II.
Edward F. Caverly, for 10 years
with Colonial Fuel Oil of WASH
1ngton, has joined the executive
stan of j. Arthur Warner Co., New
York investment dealers He for
merly was manager of E. F.. Hutton
d Co. in the Woolworth Building.
New York.
E. Owen Fitzsimmons, former
manager of the Cotton Textile In
stltute's Washington Office, has been
e.ected president and treasurer of
the newly organized Carded Yarn
Association at Charlotte, N. C.
Chesapeake & Potomac Telephone
Co. patrons made 49,387 900 calls in
December, an increase of $3.50 900
over December, 1914. |
Installment Loans Up Sharply.
The Federal Reserve Board stated
yesterday that installment loans of
commercial banks, small loan COM
panies, industrial banks and credit
unions were 10 per cent ahead of
December year ago and about the
same gain over November, 1945.
Loans totaled S306, 1000 900.
Installment loans in 1945 were
estimated at s2,612,000 900, COM
pared with S2,257 900 900 in 1914.