Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-07

Mr.. Allies num-
bers among his m -
most vivid memo
ries his participa- m
ton in the Nome
stampede in 1900 2Hzz kA.-s
and nine years in Eugene A. Allies.
Alaska, during
which time he was identified with the
Bank of Alaska. In 1899 he went to
Seattle and as an aSsayer handled the
gold rush out of the Klondyke. He has
estimated that during that time ne
handled about $37,000,000 In new gold
taken from that region.
Born in Sidney, Ohio, and educated
in the public schools, Mr.. Allies moved
from Alaska to West Virginia m 1909,
where he became interested in transpor-
tation matters, an interest which
brought him into contact with John w.
CornWell. former Governor of West Vlr-
cinia and at present general counsel for
the Baltimore & Ohio Railroad, whose
daughter he married. In 1912, Mr. Allies
went with James B. Colgate q Co., iii
Washington and two years later became
identified with N. w. Halsey q Co.
Reorganized Halsey Unit.
His association with the National City
Organization dates bcak to purchase by
the National City of the HalSey hrm.
Mr.. Allies fulfilled his first assignment
with the National City when he reor-
nanized the Halsey unit as the Citys
Washington branch. During his period
of association with the National City
Co. Mr.. Allies has been instrumental! in
placing hundreds of millions of dollars
worth Of securities with the investing
public.
and was placed in charge of the met
ropolitan district. He continued there
until September, 1927. when he was
transferred to the general sales depart
nnent and placed in charge of the Ma
tional City Offices at Baltimore, WASH
ington, Atlanta, Jacksonville, Miami,
New orleans and Houston. Last Aprh
he was chosen as director OF the Ma
tional City Foundation.
The firm of Carter g. Co. is more
than so years old and is considered a
very conservative concern. Mr.. Allies Is
now on an extended vacation In Maine.
He assumes his new duties on october l.
Details on Retail Trade.
Additional information from the Fed
eral Reserve Bank of Richmond i'll retail
trade in June and July in the fifth dis
trict show sales averaging As per cent
above sales in June, 1928. On daily
basis. the increase this year Is really
larger than the percentage indicates,
since June, 1929, with flve sundays
contained one less business day than
June last year. Total sales IN the re-
porting stores from January l through
June this year averaged 2.8 per cent
above sales during the first half Of 1928.
and June, 1929, sales were 8.4 per cent
larger than average June sales during
fhe three years, 1923-1925. inclusive.
Baltimore stores averaged the largest
Sgains in sales last month in comparison
tH11f in nj
ssales for the first half of 1929 the Wash
sington stores showed the largest increase
Cover 1923.
Stocks of merchandise on the shelves
sof the reporting stores at the end OF
sJune averaged practically the same as
on June 80, 1923. but were 81 per cent
Hess than stocks on hand month earlier
: this year, May 81, 1929, a seasonal re-
duction.
= The percentage of sales to average
stock carried during June was POI per
? cent for the district as whole ana
: the percentage of total sales during the
: first half of 1929 to average stock car
: ried during each of the six months was
Q 1927 per cent, indicating an annual
7 turnover of 325 times, compared with
turnover rate of 500 times in the
\ first half of 1928.
2 Collections by 80 of the 81 reporting
stores during June totaled 28.5 per cent
of outstanding receivables as of June l.
] a slightly lower figure than 28.7 per
cent of outstanding receivables col
! 1ected in May this year and exactly the
/ same figures reported for June year
: ago Baltimore and Washington re-
Z ported somewhat better collections in
June, 1929, than in June, 1928, but
: Richmond and the other cities stores
reported slower collections.
: Montgomery Bonds Offered Today.
I The National City Co. announces
+. gomery County. Md Az per cent bonds,
: dated August 1, 1929, and due August
> j, 1939-68 inclusive, at 100 and interest,
yielding Az per cent. Principal and
/ semi-annual interest are payable Feb
ruary l and August l at the Farmers
5 Banking g. Trust Co., Rockville, Md.
The bonds, which are of 81, 900 de-
Z nomination, are issued for school pur-
poses and are direct general obligations
of the town. payable from unlimited
taxes on all taxable property in Rock
vile.
Cleaned in Financial District.
John B. Larner, president of the
Washington Loan & Trust Co., who Is
passing his vacation at Mifflintown, Pa,
was in the city today to attend the
! August meeting of the board of direc-
tors:
/ Alexander Wolf, counsel of the Bank
iof Commerce &, Savings, and trust Of
tficer of the Second National Bank, left
q Washington yesterday, and sails from
New York today on the Berengaria for
/ tour of Europe. He will be away
\ about two months.
X e. ]. Sacks, vice president of the
i Washington Permanent Building As
ISOLATION, is vacationing at his Sum-
i mer home, near Newport, N. H. He
/, expects to be gone until after Labor
!, day.
!, ayers of G. M. p. Murphy & Co, is in
i New York on business connected with
4 the main office.
i Sales of United Cigar Stores Co. Of
i America and subsidiaries for July 1929,
X, totaled $7,087,759, comparing with So
i. 1884 in July, 1928, an increase OF
II 1853, 218, or IL per cent.
II The Virginia Electric & Power Co.
/ has declared regular quarterly dividends
u of SITS on per cent preferred AMI
u S150 on per cent preferred. both
Il payable September 20 to stock OF record
\ August 80.
!, Local Utility Stocks Active.
|, Eghty-two shares Of Capital Traction
l stock were sold on the Washington
Il Stock Exchange today in small lots,
1 every sale being made at SO, fractionally
I lower than yesterdays market. Rail-
4 way g. Electric preferred sold in small
l amounts at SO and 99A, one transfer
I in this issue including 96-share block,
i the largest sale In this stock for many