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

than sales during the corresponding
month last year In comparison with
sales made III April. this year, May sales
gained IN all lines reported upon, partly
due 10 the longer month. Total sales
since January l were larger in groceries
and shoes than during the correspond
ing five months in 1927, but dry goods.
hardware. furniture and drug sales
we're smaller this year than last.
Stocks on hand ct the end of May.
this year, were larger than stocks on
hand May 81, 1927, in groceries and dry
goods, but shoe and hardware stocks
were smaller on the 1928 date. During
May stocks OF shoes on the shelves of
the reporting firms increased over those
on hand on April 80, this year. but
stocks Of groceries. dry goods and hard
ware declined during the month
Collections during May we're better
than in April in shoes and furniture.
but were slower in groceries, dry goods,
hardware and drugs. The dry goods.
shoe and drug percentages were slightly
higher than those Of May, last year. but
the May. 1928, percentages in grocery.
hardware and furniture lines were lower
than these of May, 1927"
Bank President Notes Birthday.
Yesterdays birthday honors went to
Peter A. Drury. president Of the Mer-
chants Bank d Trust Co. who arrived
on the scene OF action exactly "a years
ago, DR. Drury is one of the keenest
and busiest bankers in Washington and
passed his birthday at his desk, dispos-
ing of banking problems with his usual
speed and accuracy. Many hearty con-
CALCULATIONS were extended to him by
those who knew the special meaning of
the day
Mr., Drury long has been prominent
III local banking circles, having been
one of the organizers of the Merchants
& Mechanics Savings Bank. also of
the National City Bank, of Washing
ton. and was president of both for
some years. He was elected president
OF the Merchants Bank d. Trust Co.
when 1t was organized and took over
the affairs OF the Washington g. South
ern Bank. One of the most important
business deals in which he has figured
vas the purchase as an individual of
the Southern Building, one of the larg-
est office structures in the city.
During the Summer the local banker
spends considerable time at his estate
at Biuemont, Va. His Summer home
stands on top of mountain and pos
sesses marvellous scenic view of the
Loudoun Valley. Like many other
bankers, he belongs 10 a good many
organizations, among them being the
Board Of Trade, Chamber of Commerce
City Club, Old Colony and Racquet
Clubs. as well as the District of CNlum-
bia Bankers Association.
Rediseounts Decline in District.
In the local fifth Federal Reserve
district rediscounting by member banks
differed from the operations of the
system as whole by showing a de-
cline Of approximately Si,500.000 in a
week, totaling S50.570,000. This, how
ever, was about twice the total of
year ago. The ratio Of the Richmond
Bank changed but slightly during the
week, standing at 55.l6, as against $3.50
per cent
Holdings Of Government securities by
the Reserve system showed but little
change. totaiing S2i9,565, 900, as COM
pared with 1921 .937, 900 a week previ-
ously. But the SYSTEMS ratio declined
TO 65.4, as against 63.7 per cent week
ego.
Prices of Unlisted Securities.
Following are the bid and asked
prices on local securities which are not
listed under the rules of the Washing
ton Stock Exchange, but which are read
each week by the president Of the ex-
change and brought up to date:
BONDS