Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-08

Washington. Stocks
of merchandise on the shelves on JAM
airy 81 this year we're seven-tenths {
per cent smaller than stocks at til
end of December, and 6.8 per cent les
than stocks on January 81, 1928. Sale
in January 1929, averaged 23.3 pc
cent of stock carried during the month
Collections totaled 3l1 per cent {
receivables outstanding on January
the percentages for Baltimore, Rich
mond and Washington being highe
than In January last year. while tn
other cities reported a slightly lowe
percentage of receivables collected las
month.
Wholesale Trade Spotty.
Seventy-eight wholesale firms, rep
resenting six important lines, sent con
fidential reports on their January bust
ness to the Federal Reserve Bank .
Richmond. All lines reported upoi
showed seasonal increases i'll Januar
sales in comparison with those of De
cember, but the gains in dry goods ant
furniture were probably not up to sea
aonal average.
In comparison with sales in January
1928, results secured In January Thu
year were less favorable, groceries ant
drugs reporting the only increases, whil
lower sales were reported In dry goods
shoes, hardware and furniture. Stock
ON the shelves of the reporting firm
at the end of January, 1929, showed thu
usual increase over December 81, stock
in every line for which figures wer'
available, but were smaller than stock
on hand on January 81, 1928, in, DIR.
goods and hardware.
: The percentages of collections in Jan
! uary to total receivables on January
2 were higher this year. than in 1928 II
! dry goods, shoes and drugs, but grocery
: hardware and furniture percentage!
: were lower last month than in January
: 1928.
: Schwab Cheerful Over Market.
: The behavior of the stock marke
!. during the last five weeks has con
: WINGED Charles M. Schwab, chairman
:. of the board of the Bethlehem Stee
: Corporation, that his worries over a Ma
= ton apparently speculation-mad, wer
! unwarranted. Returning from his an
; nual vacation abroad, he declared tina
he had revised his opinion OF stoc
market activities to conform with
more modern business mans view
Prior to going to Europe five week
ago, he sounded a warning note agains
z inordinate speculation and said that h
was worried "as all good business me
are" Yesterday he stated that he ha
! decided that his opinions were thos
! OF an "old-timer."
What I viewed with alarm neve
! nateriaIized, and think now, that per
: &c iplH
made money except us old-timerS, VIII
were afraid of the high prices in tn
stock market. One-third of the pre-
!. ferred stock in the Bethlehem Stee
Corporation is owned by employees Gen
eral speculation is akin to that-ever.
one wants to own something.
"As long as the people remain en-
thusiastic and interested, the marke
will hold up OF course, there will hav
TO be periods of adjustment from tim
to time Remember, the United State
does half of the worlds business, an
will continue to. Who can compel
with uS?" :"
Lively Trading on Exchange.
Lanston Monotype was the outstaIid
ing feature in lively trading on tn
Washington Stock Exchange today,
shares changing hands at 100. a higl
for the day of 1909 and closing pric
of 1904. Mergenthaler also appeare
on the board. 10 shares selling at 1881
and 10 at 1084.
The Potomac Power issues wer
strong, the 6 per cent preferred movin
at 1922 and closing at 113 and the 81
per cent issue at 1037s. Fifty shares @
Merchants Transfer & Storage common
came cut at 1875. Ten shares of Capita
Traction sold at 104 and five at 104la.
American Security & Trust Co. stoc
sold to the extent of 40 shares at Az
Commercial National Co. preferred cam
out at 104 and District National Securi
ties preferred figured in a 10-share sal
at 1922.
In the bond division, Capital Tractio
IS moved at 1902 on a $4,000 turnove
and the Washington Gas IS sold at re
the Kansas City Board of Trade, attend
ed the session today and was granite
privilege of the floor.
Starts New Business Campaign.
The Security Savings g. Commerce:
Bank has launched campaign for ne
business which is to be participated
by the officers. directors, stockholdel
and employees of the bank. The driy
is to be carried on as contest he
tween 16 teams along lines which hay
proved successful among large banks
several other cities.
Team captains who will lead tt
contest are Julius l. Peyser, Francis
Addison, ir; Sol HerZog, Fred McKe
Edward c.. BaltZ, Samuel r. Baulsi
Dion S. Birney. T. Hunton Leith,
William Roberts. Francis r. Bisho
W. J. Shipman, J. Hanson Beall, Newe
T. Stiles and Frances Mac Bronson.
The following committee will NAL
final decision on all matters pertainir
to the contest Julius /. Peyser, chat
man: Francis G. Addison, jr. Laurent
Mills. j. William Roberts, Oswald Lei
mann and T. Hunton Leith, execute
secretary.
Increase in Discounted Bills.
The consolidated statement Of col
6ition of the Federal Reserve Ban
on March shows an increase for q
week of $36, 100000 in holdings of d
counted bills and decreases OF SIG .4OS
600 in bills bought in. open market al
Of S3,40O,O00 in United States Securiti'
Member bank reserve deposits declin
SIG SOC. 900 and cash reserves $4,000, OF
increased $4,000, 900. Total bills al
securities were 100000 above t
amount held on February 81.
Financial District Notes.
The Southern Railway has declar
the regular quarterly dividends of
en- common and SIPS on the PREFER
stock, the common payable May l
stock of record April and the prefe
red payable April is to stock of reco
March 49,
Safeway Stores, Inc. which
Civilizations with one of the local CHI;
store groups, reports February sales
S14,O83 1896, against $7l75,509 in Fl
ruary, 1923, a gain Of SO per &c
Gales for January and February tota
S2697S,395. against Sl4,078,746
rear, gain Of 81 per cent increase.