Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-31

January $l29,438291 Sll44O8 832
February l09 $40 GAO l03495.524
March 1097 95 92S I22.2S4 900
April 129. 300.o52 I20.olo88o
May 126S36,l8S 123.796. 4O2
Total s627,01o. 400 1914. o05. 636
The June local bank cIearings will be
awaited with particular interest as they
will complete the totals showing to A
greater or less degree the business situa-
ton in Washington for the first half
year.
Retail Trade in April Reviewed.
Department store sales in the aggre-
gate for April were 2 per cent larger
than in the corresponding month
year ago. according to reports made to
the Federal reserve system by 523
stores: on a daily average basis, how
ever, the sales were per cent smaller
than year ago, rejecting the fact that
no part of the Easter selling season this
year came in April.
Inventories of the reporting depart
ment stores at the end of April were
2 per cent below the level of year ago.
Reporting chain stores. excepting shoe
and candy chains, made substantially
larger sales than in April of last year,
which reflects, in part, the establish
ment during the year Of additional
stores.
The Reserve Boards report, out to-
day. the District of Columbia had
gain of 81 per cent in retail sales,
Baltimore sales we're down 2.9 per cent,
while Richmond reported a gain of ID
per cent over the corresponding month
In 1928.
Bank Convention Program Landed.
Trainers of the program for the Dis
trict Bankers convention at Montauk
Point, Long Island believe they have
one of the best business sessions in
prospect that has yet been planned. OF
this they have been treasured, II re-
assurance were needed, by the United
States Investor. which declares that
the subjects chosen are of vital interest
to bankers everywhere. The secondary
reserves of banks, relations of loan and
other committees to banks, and the
functions of the credit department, are
considered topics of such far-reaching
value that the magazine says other
conventions would do we'll to adopt the
same subjects.
AS noted some time ago in The Star,
these subjects will be discussed by Henry
H. Mckee. president of the National
Capital Bank; Robert v. Fleming,
president Of the Riggs National Bank,
and John Poole, president of the Fed
eral-American National Bank. The
three local bankers have made special
studies Of these problems and Will
handle them in a most practical man
ner And these features are only part
of the program that the Boston mag
azine would have other associations copy
for their conventions.
Women Heavy Pennsy Stockholders.
The average of Pennsylvania Rail-
road stock on May l was 7l.35 shares.
The geographical distribution OF stock
compares with year ago as follows:
Pennsylvania, 43.79 per cent; decrease,
355 per cent: New York 24.29 per cent;
increase, 1.18 per cent: New England.
11.50 per cent; increase, 0.40 per cent:
foreign, 307 per cent; decrease, 0.45
per cent.
Number Of stockholders compares as
follows: Pennsylvania, $3.50; decrease
$3.50; New York, 27,717: increase, 5,732;
New England, 21,509; increase, 1893;
foreign, 1898; increase, 221, and scat
tering, 36,116; increase, 1926.
Woman stockholders numbered 1925,
increase, 1894, being 50.29 per cent Of
total; decrease, 0.65 per cent. They
held 1888, 523 shares, increase, 8,349,
constituting 35.01 per cent OF outstand-
ing stock; increase, 1.l6 per cent. Their
average holdings was so shares, in
crease, 3.
Total outstanding stock on May 1 was
1l,248,97s shares, increase, 1,263,665.
Heard in Financial District.
c. J. Gockelcr, secretary of the
Washington Stock Exchange and vice
president of the District National Bank,
is passing the week end at Marsate
City, near Atlantic City, having his
Summer r0ttaCa mt in order
Local insurance men have received
word that group life insurance to be
paid to estates of employees who died
in the Cleveland Clinic tragedy, will
reach about 100000. The policies
range from $500 to $4,000.
In a recent article in the Internal
Revenue News an official OF the United
States Treasury. Joseph S. Mccoy,
actuary, stated that about 3 per cent
of the nillionaires of the United States
die annually He estimated the gross
value Of estates in this country that
pass to heirs each year at about SOLO,
100000.
Secretary Edward ]. McQuade of the
Bankers Association passed Memorial
day on a motor trip to Fredericksburg,
Va. and adjacent territory.
President William d. Hoover OF the
National Savings e. Trust Co. is enjoy
Lake region in Maine.
John r. Waller and Austin c. Waller
spent the holiday at Fredericksburg and
a nearby country club.
Commodity Prices Higher.
The wholesale price index of COM
rnodities advanced one-fifth of l per
cent during the week ended May 20
according to the index of the National
Fertilizer Association. Since March 9,
however, the index has declined %
per cent, and it now stands at "a per
cent below the like week of 1928. Dur
ing the week "a advances and 33 de-
clines took place, and only two groups
advanced materially while four leading
groups showed declines.
The chief advances occurred in the
fuel group. due to crude petroleum and
gasoline, which is seasonal. Material
declines occurred in the following
groups Textiles. grains, feeds and live
stock, fertilizer materials and metals.