Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-07-06

months of 1927.
On the other hand, VIM. d. sullivan.
May sales this year
averaged 95 per cent above averag
May sales during the three years 1923
1925. inclusive.
Stocks of merchandise on the Shelve
OF the reporting stores were 81 pc
cent lower in selling value at the en-,
OF May, 1928, than a year earlier an,
were 3.5 per cent smaller than a montl
earlier. The decrease in May unde
the April 80 figure was about the sea
sonal average.
The percentage of sales to averag
stocks carried during May was 27.3 pc
cent for the district as a whole, ant
the percentage of total sales durin;
the first five months of this year Il
average stocks carried during each o
| the five months was 1865 per cent. in
| dicating an annual turnover of $685.
times. During the first five months
| OF 1927 the turnover was at a rate O
S.04l times.
Collections by 90 of the 80 REPORTING
stores during May totaled 28.8 per cen
OF outstanding receivables as of Ma,
!. higher average than 27.1 per CEN
attained in April this year and 26
per cent collected in May, 1927. AL
cities reported higher percentages Ii
May than in April this year, and Balti.
more, Richmond and Washington also
showed an improvement over the per.
centages of May. 1927.
Local Bank Director IS Years.
William D. Sullivan. who celebrated
his eighty-ninth birthday a few dav;
! ago. has the distinction of being tn,
Oldest active bank director in Wash.
lngton. He has been a director in th;
Lincoln National Bank for about IS
years or practically ever since the bank
was organized and opened for bushes:
/ in 1890.
Mr.. Sullivan was at the regular meet.
| ing yesterday, and never misses gather.
| ing with the other financiers guiding
the destinies of the Lincoln bank unles:
Kept away by an occasional illness. Nat.
urally, man of his advanced age has
not been active in business for many
| years, but for nearly half a century
however, he was engaged in the hide
| business in Washington and Alexan.
drla, accommodating very generous com.
| potency.
The veteran bank director makes hi,
home at 1909 Eighth street northwest
where he has resided between four ane
five decades. He appears to be a mar
| of about 10, walks with a firm stem
head and shoulders erect. always cordia
and glad to have word with his oil,
friends. When he gets to be 100. MI
Sullivan hints that he may resign from
the directorate and let such boys a
President FLOYD e. Davis and Vice Presi
| dent Albert s. Galley run the hank.
i Another Bank Plans Expansion.
/ Ezra Gould, president of the Wash
ington Mechanics Savings Bank. re
ported today that his directors hav
voted to build an addition on to tn
branch bank at 1908 Georgia ayenu
at once.
1t is proposed to install a new vault
increase the space for the officers an,
double the counter and cage space 70
the tellers The addition will be bull
on to the rear, the extension to carr
the bank back about twice as far a
at present. The work viii require sew
eral months. but business will be con
Quoted at the same location withou
interruption.
4 AT yesterdays meeting of the boar,
OF directors Mr.. Gould reported sub
Stantial gains in business since June O
last year. The call of few DAYS az
revealed an increase in deposits sine
June 80, 1927, of s457, 600 This is tn
best showing the bank has ever made
Mr.. Gould said.
Prices Firm on Local Exchange.
The Washington Stock Exchang
closed the week with prices firm an
trading rather quiet. In the bond di
vision Wardman Park Hotel 5Ibs sol
at 99ts and closed at 100. Gas 6:
series A, moved at los and iO4Is an
a $4,000 transfer in the B bonds too
place at l05A. Gas SIS came out a
1041k.
On the stock side Chestnut Farm
Dairy common sold at 95ls, 13 share
of Mergerithaler appeared on the boar
at 1908. while Peoples Drug storf
preferred registered i07i9. Three SHARE
OF Capital Traction sold at 1857.
Potomac Electric Power per Ger
preferred sold at l1034 and the 81
issue sold at 1862 and closed with 3
shares selling at 1861. Fifty shares {
National Mortgage IL Investment pre
ferred brought 5i2
Made Investment House Manager.
Announcement is made today of th
appointment Of Alfred Tyler as mar
ager Of the Washington office of Ham
bleton & Co, investment bankers. 1852
X street northwest. Mr. Tyler is an ol
WashingtOnian and has many FRIEND
In business and social circles who ar
welcoming him upon his return to tn
city after being for some time manage
Of the Hambleton offices at Jacksonville
Fla
At the same time the Offices of Ham
bleton Il Co. are being moved fro,
their former location in the Souther
Building TO the ground floor OF the In
vestment Building, 1921 X street.
Kresge Sales Up In June.
Sales Of S. S. Kresge Co. for June In
creased to $iI ,834,l33 from $100e3 &c
in June last year, gain OF 1889 pt
cent, and Ter the half year 10 S62. 790
1874 from S55 300 9s7 In the first ha
4 Of 1927, gain of 1888 per cent.
q. r. Van DuSen, president said Thu
stores opened in the last half Of 10.
4 and the first half Of 1923 accounted f.
sales Of s3.i4l .270 Sixteen stores wei
\ opened this year, a total of 45i In opei
i alton. Of which BIT were Of the ar
10 cent type. and I34 were Is cents
4 81 stores. FOrty-flve new stores will
B opened IN the second half Of the year
Heard in Financial District.
George o. Watson. president Of Il
4 Liberty National Bank, is on his annu
vacation, passing most Of his time
his newly acquired Summer home {
South River
Arthur Foraker. manager OF the l0c
office Of Eastman, Dillon az Co, Is {
q motor trip 10 Massachusetts, and 9th
places III New England
Local holders of Packard stock we