Evening star., 1921-08-31
GASSHARESF|RM
AT HIGHER PRICES
Some Trade Comparative
Figures-NeW York City
Near Price Adjustment.
BY l. A. FLEMING.

Washington Gas shares monopol-
lied the interest on today's session
Of the local stock exchange. a num-
Der of sales being reported on an adj
vancing scale from ASK the immeS
date opening. to ASH the closing.
This stock has been decidedly strong
for number of days, the offerings
being light and increasing only as
values are advanced.
District National Bank stock at 17a
share furnished the only other stock
sale of the session.
Potomac Electric general IS brought
S6A.
The rest of the list was entirely
nominal and without important
change.
Charles c. Glover, chairman Of the
board of directors of the Riggs Ma
tional Bank, has returned from York
Harbor. greatly improved in health.
Messrs. Crane, Paris & Co. are
y. f. Booker, jr., well known local
newspaper man and writer on finan-A
cial topics, has become associated !
with their organization. effective
September 1st. Mr.. Booker has d
large personal acquaintance among
the bankers ana Investment interests
of Washington who wish him well in
his new field OF effort.
f. A. Linger Heads New Bank.
A group of citizens of Woodbridge
and vicinity met and decided on the
formation of community savings
bank to be known as the Woodbridge
Commercial and Savings Bank.
AT the meeting Percy Foster, who !
is interested in the formation of then
Ba ankers' Trust and Mortgage Company.
now in process of formation, ad-
dressed the gathering. holding forth
on the advantages and possibilities
of establishing branch bank.
The assembly then voted for the
community savings bank.
A temporary organization was ef-
fected. F. A. Linger being chosen as
president; Charles r. Allen, secretary,
and Robert S. Campbell, treasurer. =
The chairman then appointed com
mittee of five. Messrs. Torbert. Wild
man, Spund. Campbell and Linger. to
investigate the banking situation.
later.
New York Adjusted.
1t is encouraging when the Federal
Reserve Bank of New York can find
facts confirming the view that IAN
advanced stage in the process OF re-
adjustment has been reached"
THE evidence does not indicate
complete price stabilization. One of
the groups making up the Depart
ment of Labor index is almost at the
1913 level, while another is two and
two-thirds times as high as 1913.
THE index of the prices OF twelve
basic commodities. maintained by this
bank, remained stationary during
July, declined 90 per cent during Au-
gust, reaching a point less than per
cent above the 1913 average. The in
dex is made up of commodities which
change rapidly from day to day.
The decline in prices remains fan
in excess of the decline in credit
rofn hn
of the decline in prices of commodities
| from July, 1920. to July. 1921.
| Drug prices declined 25 per cent
and the sales in dollar values In the
same period decreased but fraction
Shoes were off in the same compariT
son 35 per cent and the sales In oo4
lar values Is per cent.
I Clothing prices declined A per cent
and sales 35.9 per cent
| Hardware values 35 per cent on and
sales reduction 1.6 per cent.
Groceries were SO per cent on; sales
| 43.4 per cent on.
| Dry goods declined so per cent, with
4e.6 per cent reduction in sales, dollar
values.
Machine tools declined IS per cent,
sales off 7s.S per cent
These figures would seem to indi-
cate that New York had proceeded far
in it's adjustment.
In the District.
The Richmond federal reserve bank
furnishes some trade comparisons, Civ
ing the figures for the District of Co.
lumbia.
| Percentage of decrease in sales
1 during 1921 under the sales of July.
| 1920, AZ per cent The decrease in
| the value of stocks on hand July,
| 1921, compared with the same period
a year ago, 23.9 per cent. There was
also a decrease of 2.3 per cent from
| the close of June to the close of July.
The percentage of average stocks
on hand July /, 1921, to the average
monthly sales during the same month is
given as 434.S.
/ Another item shows the percentaae
of outstanding orders on July 81,
1921, to total purchases of mer-
chandise. cost price, during the year
1920. Washington answered 7.6 per
cent, Baltimore, 9.5 and Richmond,
1875 per cent.
Detailed reports from twenty-five
leading department stores in this
district. the fifth, show 11.7 per cent
less goods in dollar values were sold
in July, 1921, than during the same
month, 1920. The decline of III per
cent in dollar values is the largest
decrease reported for any month this
year. Sales in July were 3O.I per
cent less than in June. A year ago
| the decrease between June and Juiy-