Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-12-24
CHRISTMAS TRADE
MAY EQUAL 1926
Local Merchants Pleased
With Heavy Volume of =.
Holiday Buying.
BY EDW ARD c. STONE.


Christmas trade in the Nationa
CAPITAL will wind up the Iuletlde sea
son tonight in a blaze of glory. Mer
chants said today that they believed
this years business would at leas
equal and possibly surpaSS the record
retail sales of 1926. In many in
stances the stores have had the best
Christmas business in their history.
Perfect shopping weather has bee,
one Of the leadinS contributing factor ;
in the whirlwind finish. The crisp al
mosphere put ieSiIed enthusiasm into
Christmas buying and made un tor
much ot the nill in trade rrcNaliinG
hack in the Fall. In fact, holiday
trade has been better than many shop
keepers dared 10 expect.
While no figures are available, the
THRONES IN the stores, traffic jams III
the streets, checks pouring INTO the
banks for payment, together with
COMPARISONS with last year made III
the business offices of the mercantile
Establishments. tell prosperous story.
OF course, the picture is not spotess.
some local merchants reporting bust
ness below last years levels and IN
sstias that installnent buying has
tsd Up the purchasing power of far
too many people.
Bankers. however. are pralsing the
merchants for their SaleSmanShlp and
incidentally pointing 10 the S6,ooe.oOo-
ar 70 ne exact. $500, 400-paid to
Christmas savings CLUB members on
nacen,her ! as contributing factor
Of no mean proportions in expanding
Christmas sales.
Fifth District Rediscounts Jump.
Both holiday trade activity and year
erd financial adjustments were re.
fected in the Richmond Federal Ike
serve Banks statement showing the
scope of its operations in the past
week. Rediscounts in the local NTH
district jumped approximately Ss,o0o,-
Ann in a week. and currency circnla-
tlon. directly rejecting Christmas
trade, moved up TO new top for
some time at SHE 600.
CONFINED with heavy holdings Of
bankers acceptances, brought i'll the
open market. .totaling $5e,97s.ooe,
these opera tons resulted in lowering
the reserve ratio 10 1915 per cent,
from 81. 81 per cent the week before.
Open Season for Optimism.
Discussing business and the stock
market outlook for 1928, the Bache
Review says:
Optimistic forecasts are being
broadcast. This IS the open season
for such outgivings. and too much
dependence must not he placed upon
them, although they serve purpose,
because comfortable confidence helps
business psychologicaliy, and II is, aft
er ali. heartening to know that there
are elements in the situation support
Ing optimism. These are, broadly,
reasonably certain expansion of auto
mobile production and selling, build
ing construction maintaining its &C
tivity. increasing employment and
steady wage levels, revival in steel
and iron, wholesale prices creeping
up and prospects of better profits.
The trade recession has not yet
run its course but The indica tons are
for 3 turn upward in 1925. The money
outlook is favorable. but swelling gold
exports and-if trade revives appre
ciably-larger employment of funds in
business, must be taken into consid-
Grafton in estimating the future.
The market is highly speculative
and not one 10 attract investors ex-
cspt through careful selection for the
long prospect.
Cities Service Earnings Gain.
Cities Service ne, earnings for the
IL months ended November 80. 1927.
were the largest for any IL months
in the history OF the company. Net
earnings Of $3i ,s2i 1867 for this period
exceeded by IS per cent net earnings
OF $-3.Si4nST for the II months end
ed November 90 1895.
Net earnings for the month Of No
vember. 1927. were also larger than
any November earnings In the com.
pany's history, amounting 10 $2.76o.-
sss. Net To common stock and re-
serves was 81 49,. 4sI. an increase Of
S1 per cent over last November and
of I3G per cent over November. 1925.
Cities Service 90. ret earnings for
the I2 months ended November 30,
1927. were equal 10 more than II
times interest and discoun, on It's
csbentures.
Bank Club Elects Officers.
The Riggs Bank Club has elected
Harold King president for the coming
year, the other officers being b. q
Womersley, first vice president; Miss
Mildred Archer. second vice president
Miss Esther I<au. secretary: George
1reian. treasurer. The following we're
elected IN serve on he executive corn.
ni,tee. of which Phil 81. Gsrne;t, re-.
firing president. is a member ex-
oe5cio. ~. H. Taylor. -. T.. Wise.
carver. Miss Harriette Barrett. Miss
Mildred Hpeke and ]. Stephen Rams.
bpf2h ali ~ the main office. H. J.
Nersb. northwest branch: William
Hoeke. Dupont Circle branch. Bern.
ard EoUdren, Seventh street. branch
end John Keene. Park road q nj -Four.
teen'h street branch.
Group Life Insurance Advocated.
At the suggestion of Postfnastng
Genera New. representative Gproul
~ Illinois has introduced a measure
which would authorize the Postmast er
General 10 contract f0r group If.
insurance.
Participation in the plan is TO 10
voluntary. snd the entire cos, in 70 10
borne by the participating employees.
A pleas for permission 80 sci nu
sucn pisn was featured by the Post
MASTER General in his annual report
Heard In Financial District.
r. e. Norge n manager ~ the bend
department II .. Il +. Murphy q 30.
has returned from q business trgp tc
the home cffce in New York
hcrn32n 4. Tow son. ma 10 ger ~ tht
foreign department u the Washington
Ian T. Trust ca. recently VISITED Al
isrt.c cry
The Farm Loan Board has approve
the election ~ Charles Eoscne natein
~ Illinois Da nker. ss president III IN.
Chicago Joint Ftock Lam Bank.