Evening star., 1928-04-05
D. c. AREAS RETAIL
TRADE SHOWS GAIN
Washington Sales Lead Other
Cities in Fifth Reserve
District.
Br EDWARD c. STONE.

NhdOS COIt0iSlOllS 1
the Washington area during Februar
and early March. the Federal EeServ
Sank of Richmond says:
Retail trade. as reflected In sales c
30 leading department stores in tn
fifth Federal Reserve district. was 4.
per cent greater in dollar amount Il
February, 1928, than in February. 1897
although the Richmond stores average
q decline of 81 per cent and the grou
Of other cities showed a decrease o
"a per cent Baltimore sales increase,
40 per cent and Washington sale
gained 81 per cent. Total sales durinl
the first two months of 1928 average'
three-tenths of per cent above sale
In the corresponding 1927 months al
though Washington with an increaS
of SS per cent showed the only gail
this year February sales this yea
averaged l2.0 per cent above averag'
February sales during the three years
is2S-l925. inclusive, all reporting cite:
registering gains.
Average stocks on the shelves of tht
reoorting stores at the end of Februar!
were Ii per cent below those of Feb
ruary Is. 1927. in retail selling value
but were 50 per cent above those oi
January 81 this year, the latter increase
being seasonal and due 10 the receipt
Of Spring merchandise.
The percentage of sales 20 averag;
s.ccSs carried during February was %:
per cent for the district as whole
and the percentage OF total sales dur
ing the first two months of this year
10 average stocks carried during each
of the two months was ass per cent
indicating an annual turnover OF 2,7S
times.
Collections by the reporting stores
during February fotaled AIS per cent
Of outstanding receiva oles On February
/, IN cities showing lower figures than
IN January. but higher figures than n
February last year.
wholesale Firms Report Gains.
"Eighty-two wholesale firms, repre-
senting six important lines, reported on
their 'ebruary business. February
1928. sales were larger in dollar amount
In groceries. dry goods, shoes and fur
n:fure than sales in January this year
while last months sales IN hardware
and drug lines were less than sales
n the preceding month. In comparison
with sales in February. 1927, those OF
lest month were larger in only two
lines. groceries and drugs. while dry
goods, shoe. hardware and furniture
sales declined Total sales during the
frst two months of 1923 were less In
III lines except groceries than sale
during the corresponding two months
year ago.
stocks of dry goods. shoes and hard
rare increased moderately during Feb
s7iary. while grocery stocks declined. At
he erad of the month stocks OF groceries
and shoes were lower than on Febru-
ny %. 1927. but dry goods stocks were
80 per cent and hardware stocks. were
90 per cent larger on the 1923 date.
Collections during February IN gro
eeriss totaled 81 s. per cent OF accounts
receivable on February /. Drugs. with
an average of SAC per cent. ranked
next in percentage CT outstanding re-
ceivabies collected during the month.
followed by hardware with 33.2 per cent.
dry goods with 30.S per cent. furniture
with 2Ti per cent and shoes with 26.2
per cent. Grocery and drug percent
ages were higher in February this year
than a year ago. while shoe. hardware
and furniture figures were lower this
year. The percentage for dry goods
was exactly the same both this year
and last"
Lively Session OF Exchange.
Trading was lively on the Washing
ton Stock Exchange today. Potomac
Electric Power per cent preferred
scored q new high at 1i3is. The 5per
cent issue vas up 10 1885,. There we're
SIX iO-share transactions in Mergen-
tl1aler. the stock opening at i0f5s sai16
Closing 1922. Twenty shares OF Lam
ston sold at i09.
: Columbia Sand g. Gravel sold at
1905. Peoples Drug Stores preferred
at 1851 and i26. ten shares Of Liberty
National Bank at $50 and IS OF WASH
1ington Gas at 90. point higher than
yesterday. Eight sales In National
Mortgage g. Investment preferred were
recorded involving 500 shares. All but
20 shares sold at SIS.
In the bond division Capital Traction
IS came out at 103Ss. Barber d. Ross
6sag sold at 96 and Washington Rail-
way a. Electric Is at 93i2. The unlisted
stocks were called OF. but few changes
noted. The board Of governors voted,
as usual. 70 close the exchange on Good
Friday and also added Saturday as a
holiday, since all the other exchanges
are 70 be closed on that date.
Bureau Issues Stock Warning.
A warnins IL being sounded by the
Better Business Bureau against certain
high pressure stock statesmen who are
offering stock OF Photomaton new al
$50 share, which stock Is being dealt
In IN New York unlisted markets under
SO share. The stock being offered
here Is not treasury stock but appar.
entity shares bought In New York and
sold here at outraaeouSly high prices
The corporation is handling the recent
feR sh4H tales eight Y1tEfafYR& IN
eight minutes for IS cents.
Rlchmond Convention Opens.
About 500 bankers were at the open.
Ing session OF the S0uthern Regional
Savings Conference, at Richmond. thii
forenoon. George l.. woodward. heac
~ the savings bank division Of t1e
American Bankers Association, Is pre-
siding The late afternoon program
viii include addresses by r. r. II. Sid
d0glE and John Poole both Of Washing
ton DAVID Lawrence. publisher Of ths
United States Daily. speaks at the ban.
q3es tonight.
Financial District Notes.
In the absence Of the regular IN
etrs1etoF. Eliot H. Thomson, VINO Is at.
tending the Southern Regional Saving
Conference at Richmond the class II
DftaAE111E &s1&AA2AEEhA&bS va AAhE Ss&@4tAAAE
ton Chapter, American Institute d
Banking. win De addressed by HarOit
W Burnside, assistant cashier Of tn
Farmers Il Mechanics National Bank
HiS topic viii be- Banking Laws ant
Requirements, Mr. Burnside is q pas
president Of the chapter
III j. GaInan. cashier 0f the LiDeFt,
National Bank, Is attending the saving
conference AZ Richmond.
g. Howell Young. assistant eahhie
~ the Farmers IL Mechanics kstiOns
Bank Ia representing his bank At tn
Richmond conference.
Thomas r. Hickman. vice president o
the Franklin National Bank, has re-
turned from . short trip IN Virginia.
G, II Pope, Vice president of TN
M8Bsey Trust Co. has been in Hey
York on business
Otis GIazebrOok. lr.. member 0f tn
firm of q M r. Murphy II Co, esiles