Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-01

t over ou,y Edward l.. Hiilyer.
dition averaged Al per cent above the
business done in August last year. The
statement is based on information
from 80 leading department stores in
the district
Total sales this year through August
81 were % per cent above total sales
from January l through August a year
ago, and August 1929 sales were 1873
per cent greater than average August
sales in the three years 1923l925, in
elusive, the review continued.
Stock OH the shelves of the 80 re-
porting stores increased l per cent
during August, but on August 81 was
33 per cent less in retail selling value
than stock on hand on August 81, 1928
The percentage of sales to average
stock carried during August was 23.7
per cent, and the percentage of total
sales since January 1, 1929. to average
stock carried during each of the eight
elapsed months was 206.6 per cent,
indicating an annual turnover of 3099
times The rate of turnover during the
first eight months of 1928 was 1878
times.
Collections Also Compared.
Collections during August in 20. of
the 80 reporting stores averaged 24.8
per cent of receivables outstanding on
August /, slightly higher figure than
24.5 per cent collected in August a
year ago. Baltimore and the other
cities reported slightly better collections
this year, but Washington showed
decline from 28.5 per cent last year
to PTS per cent this year.
Concerning wholesale trade in August,
the review said there was seasonal
advance, with sales in groceries, dry
goods, shoes, hardware and drugs all
being larger than sales in July, with
especially large gains in dry goods and
shoes.
In comparison with sales in August,
1928, however, sales in groceries, dry
goods and shoes were less last month,
but hardware and drug sales increased
during the year. In cumulative sales
showed the only increase over CORE
spending 1923 figures, the other four
lines for which information is avail
able reporting lower 1929 figures.
Increased demand for commercial and
agricultural credit at reporting member
banks and at the Reserve bank between
August Is and September IS, and
growth in Federal Reserve note circu-
lation, together with seasonal increases
in retail and wholesale trade and coal
production, indicate that Fall trade
opened up normally, the review said.
Edward l., Hillyer, vice president OF
the Union Trust Co., was back at the
bank today after an illness of nearly a
year. He was greeted by many old
friends and congratulated on his return
to health. Mr. Hillyer is director in
the trust company and also vice presl-
dent of the Washington Stock Ex-
change, He passed the Summer months
recuperating at Southwest Harbor. Me.
Eugene E. Allies. a former Washing
tonian and brother of the late Milton
E. Allies, former president of the Riggs
National Bank, and John Leland Cross
have become members Of the New YORK
Stock Exchange firm of Carter & Co
Both men are former executives OF the
the National City organization, but left
to Join the Carter firm. Allies came to
Washington in 1912 with James B.
Colgate g. Co. and later was instru-
mental in recognizing N. w. Halsey q
Co, as the local unit of the National
City Co.
The local office of Clark, Childs &
Co. has been taken over by Mackubtn,
Goodrich & Co., according to James
Sloan, jr, who assumed charge of the
office yesterday. He will supervise the
brokerage end of the business and
Ralph NJ Wolfe the investment d1-
vision. The new directing firm is Of
Baltimore and has memberships in both
the New York and Baltimore Stock
Exchanges. No changes in personnel
are contemplated, it was said.
Exchange Honors C. ]. Bell.
The Washington Stock Exchange
paid special tribute to Charles j. Bell.
who died early today in st. Luke's Hos
pital in New York City. The exchange
adjourned out of respect to his menu
DRY. Secretary c. j. Gockeler presided
at today's session and asked Albion K:
Paris, one of the Oldest members of
the exchange, to say something about
MIR. Bell. Mr.. Paris paid the flnancier
a brilliant and fitting tribute.
Trading was very light during the
trading session today. Ten shares OF
Capital Traction sold at 1917, ex div1-
dend, and five more at 88A, a new low.
Potomac Electric Power 51a per cent
stock moved at 1885, 1865 and 1864.
Ten shares of Security Savings & Com
mercial sold at SIS, Lanston registered
100 and Mergenthaler 1031s. There
were several $1,000 bond transactions.