Evening star., 1950-03-02
D. {. Postal Receipts
3.96 Pei. Ahead Of
1949 in February
By Edword c. Stone

ieCllCSClIlS Cllc " eSeIlt very mgr
business activity in the Capital
revenues at the City Post Office il
February reached $1,473,961 il
comparison with $1,417,746 il
February, 1949, an increase of $56,.
215 or 1886 per cent and new
all-time record for the month.
Postmaster Roy M. North made
the report today. adding thai
postal receipts in the first two
months of this year also were al
a new high point. Revenues to-
tailed S2,990,363, compared WITH
S2,675, 1888 in the like period a yeal
ago. a gain of $14,524, or 0.49 pei
cent.
Naturally, to set these new rec.
ords the mail both in and out ot
Washington has to be unusually
heavy, Mr.. North said.
Frentz on Credit Program.
Arthur j. Frentz. assistant com.
missioner, Federal Housing Ad-
ministration, will address the Ma
tional Credit Conference of the
American Bankers Association, in
Chicago, March 20, it was an
nounced today.
Automobile, home appliance and
televiSion experts also will speak
A. M. Sweeney, General Electric
sales manager at Bridgeport
Conn; George Romney of Nash
Kelvinator and Joseph B. Elliot
vice president of the Radio Corp
of America, will be among the top
speakers. Raymond Peterson.
president of the ABA, will address
the opening session on March 27.
Agency Honors Neveaux.
Albert L. Neveaux, jr., was
honored by the George A. Hatzes
Agency of the Fidelity Mutual Life
Insurance Co.. at the Manor Club,
for his promotion to general agent
at Richmond, effective March Is.
He has been supervisor of the
agency here since January, 1912.
The Spring Council Meeting of
the American Bankers Association
will be held at French Lick, Ind,
April 1925. Several commissions
will meet with the ABA officers
and other delegates.
The Virginia Gamers Associa-
ton has reelected S. G.. WINNER
of Christiansburg, president for
the coming year.
The American Savings and
Loan Institute will hold the an
nual meeting in Washington in
1858, at the Statler. The invitation
has just been accepted.
National Sets New Record.
G. T. Baker, president of Ma
tional Airlines, reported at news
conference at the Carlton that the
company set an alltime record in
February when it flew a total of
26,404 ,904 passenger miles, 81
per cent increase over the previous
record made in January. The
February record was a At per cent
increase over February, 1949.
The Second National Bank has
received a citation for outstanding
use of advertising methods during
the past year. The award was
made by Rankings 1850 Forum
in Print The banks advertising
was prepared by Kal, Ehrlich &
Merrick.
F. Charles Ruling was installed
president of the Electric Institute
OF Washington at dinner meet
ing at the Shoreham Hotel last
night. He succeeds Harry c. Lease.
Trade Declines Moderate.
The Federal Reserve Board re-
ports that the Boston and Atlanta
Districts had the smallest retail
sales decreases in January among
the IL trade areas, l per cent.
Richmond and st. Louis regis
tered 3 per cent declines in Janu-
airy over January, 1949.
The national average letdown
was 4 per cent under January a
year ago. New York and Phila-
delphia Districts were down 6 per
cent. Chicago 5 per cent; Minnea-
polls and Cleveland off 7 per cent
and San Francisco 8 per cent.
Dallas and Kansas City Areas
reversed the trend with sales gains
OF and 3 per cent, respectively
Oklahoma City reported 16 per
cent trade jump.
District Payments S191,987.
c. Carney Smith, general agent
OF the Mutual Benefit Life In
surance Co. of Newark, reported
today that his company paid
death claims in the District in
1949 amounting to $191,98 The
company paid S69,242 to living
policyholders here who had ma
turing endowments in 1949. In
surance in force in the District
totaled $26,141 ,699 and invest
ments here amounted to S14,25O,-
353.
The Commercial & Savings
Bank, Bel Air, Md, in celebrating
its 50th year, paid a 1907 stock
dividend and increased the banks
capital from $62 500 to S125,OO0.
Capital Transit stock, which
sold up to 80 in a surprise ad-
vance on the Washington Stock
Exchange, has been leveling of
this week. The stock came out
today in small sale at 30A after
closing yesterday at 81. The finaI
bid today was 81 with 311a asked
Chicago Grain
CHICAGO. Mar R.-A forecast
for scattered showers over the winter
wheat belt dampened buying enthusiasm
in wheat today, particularly the new-cror
months.
Wheat didn't experience any sharp sell.
of but the strength noticed yesterda,
was conspicuous today by Its absence
The March contract also sank with profit.
taking being considered one factor in the
slump.
Other grains were mixed soybean.
opened on an extension of yesterday
other grains were mixed. soybean
opened on an extension of yesterday,
sharp upturn and then ran into littlt
selling pressure which knocked price
down to around the previous close. Oat
eased while corn maintained a stead.
undertone
Wheat. near the end of the first hou
was UNCHANGED to cent lower, March
oo1 "a; corn was UNCHANGED to "a lower