Evening star. [volume] (Washington, D.C.) 1854-1972, 1949-10-19
Demand Deposits Here
Gain S12,70S, in
Week Ended Oct. Z
Bv Edward G. Stone

By Edward c. Stone
Demand deposits in Washington
banks and trust companies in
creased by $12, 708, 900 in the week
ended October II. the Richmond
Reserve Bank reported today. AT
the same time total assets dis
closed an increase of $13,333 900.
Commercial loans advanced
nearly 100000 during the week
gains being noted in both COM
mercial and real estate requests
for funds. The banks took an
additional $2,OO0,oOo in Treasury
bills. the report said
Interim Reports Urged.
James Fuller, holder of 1C
shares of Woodward & Lothror
stock, who said it cost him $50 to
attend the annual meeting, urged
that sales and earnings reports be
made much more often than once
a year. Looks as if he would win
on that. But he failed to get
President Andrew Parker to pre-
side in place of John Tyssowski
chairman of the board.
Mr.. Fuller stirred up the de-
partment store officials when he
called for more "modernizeo
methods" in company affairs. They
insisted the business is already
"modernized" by young officers
averaging, 43 years of age.
William K. Divers and o. K
La Rogue of the Home Loan Bank
Board and Carl H. Ellingson ad-
dressed the Maryland Savings
and Loan League in Baltimore
yesterday.
Washington Gas Sales Gain.
September sales of the Wash
ington Gas Light Co. disclosed a
gain and sales in the first nine
months of the year also got back
into the black, officials reported
today. Cold weather is the one
big need.
Sales in September totaled
7,740,964 therms compared with
7,096.798 in the same month last
year, an increase of 900 per cent.
In the nine months sales reached
113,493,880 therms against 49,
o11,646 in the like period last
year. a slight upturn of 043 per
cent
Another large crowd attended
the investment class at Central
High School being conducted
Monday evenings by Merrill
Lynch, Pierce, Fenner & Beane.
This weeks speakers were
Thomas B. Campbell and Carmin
C. Saccardi. members of the
brokerage staff. Next Monday
night movie of the New York
Stock Exchange in action will be
shown.
Burrus Named to Board.
George B. Burrus, executive vice
president of Peoples Drug Stores,
Inc, has been elected a director
of the American Security & Trust
Co., President Daniel w. Bell an
nounced today. A native of Ten
nessee, he was educated in the
public schools there and came to
Peoples Drug in 1923, becoming
advertising director in 1884. vice
president in 1910. a director in
1945. He took his present position
in June of this year.
Mr.. Burrus is a director of the
Better Bus ess Bureau, District
of Columbia Pharmaceutical Asso-
citation, Associated Chain Drug
Stores and National Association of
Chain Drug Stores: member of
the Board of Trade, Advertising
Club, Sales Executive Club and
Kenwood Country Club.
Accountants Hear Experts.
Carl w. Tiller. assistant to the
chief, division of estimates of the
Bureau of the Budget, and Clark
L. Simpson, assistant controller of
the Economic Cooperative Ad-
ministration, addressed the Dis
trict Institute of Certified Public
Accountants at the Mayf1oWer
Hotel last night. determination
of the Governments accounting
system was urged.
Marked improvement in bust
ness conditions in the fifth dis
trict is noted in the Richmond
Reserve Banks September review.
The employment trend has again
turned upward. with large-scale
return to the 40-hour week.
Construction activity showed
more than a seasonal rise in Au-
gust, but farm income prospects
were weakened somewhat by lower
tobacco prices and bool-weevil
cotton damage.
( Drinks 80 Years Old.
Drinks Express, which handles
billions in money every year for
the banks and big stores, is OBJ
serving it's Goth anniversary this
year, according to M. A. Good
speed, manager of the Washing
ton office. The company has been
serping banks and business houses
in washington for the last 20
yeats, showing steady expansion
du ing that time.
The company now serves more
than 1900 communities in this
country and Canada. Armored
trucks visit the banks, building
and-loan associations, stores, no.
tells and other business places
every day. No customer has ever
sustained a loss of any funds en-
trusted to Drinks care, a most
enviable record