Evening star., 1951-08-14
Deposit Withdrawals
Show July Increase
In Fifth District
By Nelson M. Shepard

the Federal Reserve System re-
ported today. For the three-month
period ending July 81, the total
was $15,487, 100000 as against
$13.259 100000 for the equivalent
period last year.
WaShington's IA Reserve banks
reported debts of 81 ,036, ,625 900 in
July. the figure for July. 1850, hav-
ing been $855, ,469 900. In the three
months on which reports were
made, the total stood at $3,193,-
021.000 as against $2.696.355 for
the 1850 period.
AS reported by banks in 342
leading centers of the United
States for July. Withdrawals from
deposit accounts totaled $124,428.-
100000. In July, 1850, they ag-
gregated $110.573 100000. The
three months total was $500, 1885,
100000 against $342 ,067 .000, 900. a
gain of IA per cent over the like
period year ago.
New York City banks increased
debts by II per cent in the re-
porting period. while at all other
centers there was an increase Of
16 per cent.
UAL Reports Gains.
United Air Lines recorded sub
stantial gains in passenger, mail
and express traffic in July over
the same month a year ago, Har-
old Crary. vice president of sales,
reported. The company few 172,-
714,000 passenger miles for an
increase of Is per cent over a
year ago: 1882, 900 mail ton miles.
gain of SO per cent; $4,000
express ton miles. up IS per cent;
and 1.546.000 freight ton miles,
Al per cent decline.
Compared with June. passenger
traffic was up 40 per cent; mail
Al per cent; express. 80 per cent
and air freight, 80 per cent.
Eastern Air Lines, Inc. contin-
uing an unparelled record in avi-
alton, reported net income of
$3,735,335 today for the first six
months OF the year. or S1.56
share. a 81 per cent increase over
the net of $2,459,5 ,584 in the same
period Of 1850, when the lines
earned 1903 a share.
This record puts Eastern. the
only United States scheduled air
line operating without a Govern
ment subsidy well into its 18th
consecutive year of profitable
operation.
Other Gains Cited.
Rejecting further gains in all
categories of traffic, gross revenues
for the first six months were $751; =
$4,000, a gain of 27 per cent over
the corresponding period last
year. Capt. Eddie Rickenbacker,
president and general manager,
said the second quarter figures
were beginning to reflect the ef-
fects Of intensive efforts the COM
pany has been making to Offset
the heretofore highly seasonal
character of its business" Eastern
is the principal North-South air
carrier.
Although the 31.075 900 revenue
plane miles flown during the first
half year were only 9 per cent
above the same period of 1850,
the number Of passengers carried
increased from 1,256,000 to 1.782,-
600, gain of ~ per cent. Rev.
enue passenger miles flown in
creased from 654,932.000 to $685.
100000 the first six months this
year, a gain of 81 per cent.
Eastern was largely responsible
for the introduction of summer
openings by Floridas largest ho-
tells and launched an intensive
promotional campaign to attract
summer tourists. The efforts have
paid off we'll for both Florida and
the air line. Largely as result
OF this, Eastern's earnings for the
second quarter of the year were
$1,157,617. an increase of 80 per
cent over the same period a year
ago.
]. c. Burkett Elected.
James C. Burkett, Washington
sales representative of American
Air Lines, was elected national
vice president for aviation of the
United States Junior Chamber of
Commerce at the recent board
meeting in Tulsa Okla. He is also
chairman of the Washington ON
to-Dallas" Committee for the 1852
Junior Chamber of Commerce ma
tional convention.
U. S. Bonds Called.
The Treasury Department has
called for redemption OF $1.118-
051, 100 of outstanding 2k per cent
bonds which were not due until
December Is, 1858. The bonds
were issued December %. 1899,
and the redemption date has been
set for next December Is.
Secretary Snyder also an
nounced that the Treasury is
passing up the issuance of a re-
demption call on December Is on
another issue of per cent bonds
in the amount of $510.412,450.
Election of Harry Jay Green
wald to the Office of vice president
and executive assistant to the
president Of Melrose Distillers,
Inc, was announced today by
Thomas w. Balfe, company presi-
dent. Mr.. Greenwald joined the
company some years ago as East
ern division manager.
c. N. Biondi Appointed.
C. N. Biondi has been named
general traffic and sales manager
for the Philippines Air Lines,
with headquarters in Manila. He
formerly was traf1c and sales
manager for Southern Asia. A
native Washingtonian, he was
with American Air Lines after the
war for short period.
c. H. Pope, president of the
Munsey Trust Co., and q former