Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-06


on hand on September 80, 1928, but
showed a seasonal increase of 1913 pei
cent over stock on hand at the end
of August this year. The percentage
of sales in September to average stock
carried that month was 1872 per cent
and the percentage of sales from jan
uary / through September to average
stock carried during each of the nine
elapsed months was 1887 per cent, in
Ciicating business at an annual turn
over rate of BIG times. During the
first nine months of 1928 the turnover
was at an annual rate of 2.98 times.
Collections in September were better
than in September last year, 25.7 per
cent of outstanding receivableS as of
September having been collected dur
ing the month in comparison with 24.5
per cent of outstanding receivables coll
lected in September, 1928.
Washington Makes Fine Showing.
The Richmond Bank reports that
retail trade in Washington showed a
sale gain in Washington over last Sep
TENDER of 2.5 per cent.
, The percentage increase in total sales
since January / over total sales for
the first nine months of 1928 was Al
per cent.
The September percentage of increase
in sales over the average sales in Sep
tember in the past three years was
% per cent.
The percentage increase of stock on
hand over the stock on hand on August
81 was 96 per cent
Percentage of sales in September,
1929, to the average stock carried dur
ing the month was 289 per cent.
Percentage Of collections in Septem-
Der, 1929, to total accounts receivable
on September was 286 per cent
Ty, oil oil f1noco ricnY1c
Washington was ahead of other cities
in the fifth district, with the exception
of Baltimore.
ID. C. Christmas Clubs Booming.
!, Eliot H. Thomson of the Washington
Loan g. Trust Co. called the attention
of the Washington Advertising Club to
the fact that $1,000 people in this city
are saving $7,470OOO in the Christmas
savings clubs conducted this year by
the local banks. The banker added
that the membership of these clubs
makes up about one-sixth of the popu-
iation Of the city and that the amount
being saved In 1929 is considerably
Larger than ever before.
= He stated that advertising campaigns
in the local newspapers had produced
most remarkable results in expanding
the Christmas savings idea. In 1924
something over $3,0OO,0O0 was saved; in
1925 the amount was about 81, 1900, 900;
in 1926 it had grown to the unprece-
dented sum of $5,400,000, while the
club membership had jumped to $4,000.
The clubs have shown splendid growth
every year since 1926, the present year
establishing the aforementioned new
peak.
The classes of savings clubs carried
in washington range from so cents per
week to $40. When the clubs started,
the members banked a small amount
the end Of the year. It was found,
however, that it was better to have an
established sum each week. The banks
consider that the vast amount Of clert-
cal work involved offset any profits
they might get from handling the funds.
But some of the money is transferred
to savings accounts, while the boost 1t
gives Christmas trade indirectly helps
the banks. Mr., Thomson considers the
idea an amazing help to community
thrift.
Speaks to Insurance Club.
DR.. Edward r. Hardy of New York,
secretary of the Insurance Institute OF
America, opens Monday next the series
of lectures on fire insurance to be given
.by the Insurance Club of Washington.
.,these lectures on the part Of the en-
,,ployes of local fire insurance Offices.
= The local committee states, however,
THAT any interested member of the pub
alic will be welcome at these lectures by
eenrolling through Henry Latimer, WASH
'ington Building, secretary of the local
iclub 1t is the hope of the club that
many of the local business men will
flake advantage OF these lectures.
Financial District Notes.
\ Interest appeared undated in the
local brokers Offices again today, stand
Ming room only signs being out when
1.-THE New York stock market opened. A
u"nervous market" is expected for some
little time by local financiers.
Joshua Evans jr., vice president OF
.'the District National Bank and chair
man of Better Business Bureau, was a
guest of the Washington Advertising
Club at yesterdays meeting at the Ma
tional Press Club.
Frank B. Pryor, vice president and
manager of Waggaman, Brawner Co.,
Inc, has returned from business trip
to New York.
The latest sales reports from the
sMergenthaler Linotype Co. show the re-
Sceipt of some particularly large orders.
The stock displayed exceptional
strength in the Washington, New York
and Boston markets during the recent
selling waves.
One of the latest radio song hits asks
John D. Rockefeller what to buy stocks
with and also requests information on
when to SELL
Local bankers express the belief that
the withdrawal of savings funds fol-
use in buying stocks will be greatly cur
tailed for a long time.
Lively Trading on Exchange.
The weeks trading on the Washing.
ton Stock Exchange opened today with
a large volume of transactions anc
steady prices.
Capital Traction again sold at 80
holding its recent gain. Mergenthale
was strong, selling at 103. LanstoI
opened at lis and closed at lie.
Among the bank stock sales were
shares of National Savings g. Trust a
525 and IS shares of Commercial Ma
tional at 258, unchanged from the las
sale.
There was small sale in Washington
Gas Light stock at 100, the lowest pric
in this issue in many months. In fact
this stock has been so tightly held tina
there have been no sales In it for lon
time.
Bonds got their share of attention
with prices holding well.
For the first time in more than tw
years five trains day are operating be