Evening star., 1950-07-03
D. {. Postal Receipts
Set Record for June,
2.2Pcf. Above 194o
BY Nelson M. Shepord

Washington Post Office receipts
scared to $1,620.451 in June, set
ting an all-time record for that
month, Postmaster Roy M. North
announced today. Receipts for
the first six months of this year
also showed an increase, 2.52 per
cent, over the same period in
1949.
The June increase of $34. 1894.
or 2.20 per cent, compared with
the previous peak of 81 ,585, ,622 in
June, 1949.
Receipts for six months totaled
$9,640.977, an increase of $237 ,681
over the comparable period last
year. Postal officials were con-
graduating themselves last year
over the $9,403 ,295.21 taken in by
the City Post Office the first six
months of that year. Since then
recovery has been steadily on the
march.
Mr.. North pointed out that the
wartime peak for June was
reached in 1945 when receipts of
$1,563 900 were reported.
Washington's growth had some
thing to do with the increase in
postal business but most of it is
due to the general uptrend of
business conditions, he said.
State Banks Grow.
For the sixth consecutive year,
the Nations 9,611 state-chartered
banks have shown a substantial
increase in loans and discounts,
totaling $25, ,694, ,031 900 at the end
of 1910. it was reported today.
This was an increase, of So per
cent, over December 81, 1948, the
survey made by the State Bank
Division of the American Bank
ers Association disclosed.
Currently, the percentage of
loans and discounts to the total
assets of State-chartered banks
is 28.8 per cent. according to the
study of assets and liabilities. Of
the more than $25 billion in loans
and discounts, the 5000 state
commercial banks held $19,120,-
$4,000. and 531 mutual savings
bank held $6.573, ,721 900.
The same study disclosed that
total reserves of all state-charter-
ed banks reached an all-time high
of $50 ,204 $4,000 on last Deem
ber 81. This was an increase of
90 percent over 1948. Govern
ment securities constituted As per
cent of the total assets, or $40,-
231, SOC, 900.
Represents Wisconsin Bar
Donald M. Counihan. Washing
ton attorney, has been appointed
to the Committee on Federal Leg
islation of the Wisconsin Bar AS
sociation. He will serve three
year term.
The thirty-fifth annual con-
vention of the Financial Public
Relations Association will be held
in Boston September 1921. Pres
ton E. Reed of Chicago, executive
vice president, announced that
more than 400 advertising man
ayers of the Nations banks and
trust companies will attend the
conclave.
Stuart Barnes Promoted.
The Guaranty Trust Company
of New York has announced the
appointment of Stuart <. Barnes,
formerly of Washington, as secre-
tary of the bank, succeeding
Matthew T. Murray, who is re-
tiring after As years of service.
Engineer students in four Wash
tngton area universities voted at
least six to- one in preference for
working in private industry, rather
than for Government after grad
uation. a recent survey disclosed.
Main reason given by the stu
dents was the chance for quicker
advancement in private industry.
Regimentation and lack of indi-
vidual incentive ranked second in
their complaint against Govern
ment work.
The GA students polled were
juniors and seniors at George
Washington, Catholic, Howard and
Maryland Universities, said Gen.
trail Surveys, Inc. of New York.