Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-08-07

Power stocks were firm in moderate
trading. Bonds were also popular TO.
day, recent prices prevailing in these
issues
Fifth District Wholesale Trade.
Wholesale trade in the fifth reserve
district in June, as reflected in reports
| from 50 firms to the Federal Reserve
Bank Of Richmond, was in smaller VOL
un1e In nearly all lines of trade fcs
which statistics were available than in
either May. 1928, or June 1927. The
reporting grocery firms showed LARGER
sales in dollar amount, In June. this
year, than in June last year. but the
other five lines reported decreased SALES
during the 1928 months dry goods witt
decline Of IS per cent showing the
greatest drop.
h In comparison with May sales, those
Of June showed an increase in furni-
ture, but in all other lines lower sales
were reported for the more recent
month. Cumulative sales during thu
first half Of 1928 exceeded sales in tho
first half of 1927 III groceries alone, the
other five lines falling behind their
1927 business.
Stocks on hand increased over those
on hand at the end of May this year III
dry goods and shoes, while grocery and
hardware stocks declined At the end
of June stocks of groceries and dry
/ goods on the shelves of the reporting
firms were larger than those on hand
on June 80, 1927. but shoe and hard
ware stocks declined during the year
/ Collections in June improved in
groceries. hardware and furniture over
collections in May of this year. but de-
clined in dry goods, shoes and drugs
/ In comparison with collections in June
last year. collections were better In
hardware and drugs. but were slower in
| groceries, dry goods, shoes and flrni-
| ture.
Regular Dividends Declared
The Potomac Electric Power Co. ha,
notified the Washington Stock Exchange
Of the declaration of the required quar-
terry 1jl2 per cent preferred stock diYi.
dend and also sent regular quarterly
dividend of ias per cent on the 5 II De
cent preferred stock. Both these divi
dends are payable on September / &
stockholders of record August 20.
The directors ofthe Washington Rail
way and Electric Co. have declared fllt
forty-ninth semi-annuaI dividend O
gig per cent on the preferred stock pay
able December To stock Of record No
vember Is. At the same meeting tn,
quarterly dividend of Ia per cent wa
voted on the common stock, this dis
hursement being payable September
to shareholders Of record August Is.
The directors Of the McCrory Stores
Corporation. have declared the regular
/ quarterly dividend Of SO cents on Clas
/ A and Glass B common, payable Sep
TENDER ] to stock of record August 20,
Institute Committee to Meet.
/ The first important meeting of the edu.
cational committee Of Washington
Chapter. American Institute of Banking
win take place late this afternoon a
bankers headquarters. when plans 70
the coming year will be discussed. TIL
matter Of selecting the faculty will nat.
urally get the most attention.
/ A. e. Henze. who is also vice presiden
OF the local chapter, is chairman Of thi
committee. Mr.. Henze Is deeply interest
| ed in institute work and has served d
| other important committees.
/ At today's meeting the new president
/ James A. Eoper and last years presi
i dent, I. j. Roberts, viii be among thos
\ present. The institutes board Of gov
errors viii meet tomorrow.
4 Sanitary Grocery Sales Up.
| Sales Of Sanitary Grocery Stores, Inc
/ In July amounted 10 sl.753,224, agaif6
II 81, 324,055 In the corresponding nnf1u
\ In 1927 or an increase of 81. per cent
L For the first seven months OF tn
Il present wear sales toialcd 1888, BIZ
Il in comparison with Se,434. 929 in TN
corresponding period last year. Tl1i
was gain this year Of IS, 3 per cent.
/ Sales Of the r. w Wooiworth Co. 70
/ June were S4l7,8 ahead Of last year
1 or 20g per cent. For the first Sevei
L I %Ta
Il 724. against $i36. 942, l9l In 1927, or al
increase Of $50 per cent.
u Erigfol~Mvers Co, In which Georg
/ Hewitt Myers is d partner, reports To
/ the sly months ended June 30. 1923, ne
Il income Of S685. 694 50, equivalent
Il al 10 Der share or 10000 shares &
Il common stock outstanding on june 81
II 1923 This compares with net incom
y Of SAT-. pos .33 fof the six months ende
June 30. 1927.
Commodity Prices Slightly Lower.
Prices Of commodities during til
week ended August 4 showed deciin
IF four-flfthS Ct ] per cent, acc0fdtH
To the wholesale price index compile
by the National Fertilizer Association
This is the fourth successive week
decline, and the rate showed 4 shar
increase yer the previous week. 1T
groups I showed the largest DECLINE
we're grains. feeds and live stock, .
ner cent, textiles. 81 per cent, ar
fats. one half Of per cent The on
groups that showed increases were e
fuel group and the building group. II
declines we're quite general IN agfien
tural commodities and most raw mat
rails. including especially hides
Heard in Financial District.
Jalins / Peyser. president Of the ~
efvifv Savings 4, Commercial ban
has returned from an extended pac'
finn trim through northern New Ed
land and Canada.
Arthur Foraker. manager 81 the loF
Office Of Eastman Dillon ~ Go, on
recent business trip 70 Texas. fosli
galveston not warmer shan Washing
ION and most of the time not near
as bot.
John Il. Larner, president Of II
washington Loan IL Trust Co has n
turned from his Summer home
4iffilniaWp. pa, 10 spend The week
the bank,
William v Freeman, son Of Bishf
James Il Freeman, Who III c0nneetf
With the bond department Of q. D
f. Murphy IL Go Is taking Facatao
Francis q. Addison, lrs. yiee pfegidel
j If fhe Security Savings n Gommefci
Bank. Ia passing a vacation on the Del
ware coast.
Richard Hattan. financial editor u
Washington Herald. has returned To II
financial district from tWo~Wek vac
tien at Epping Poorest,
jam ne Marco IF The Seventh Sire
g. .tawa Rant il 4gaaeff4a l1ta NaaalIs