Evening star., 1929-07-02

Richmond Banks Assets Lower.
Total earning assets of the Reserve
Bank Of Richmond aggregated $63, ,45f,-
900 ct the middle Of June this year and
$5S, $50, 600 on June is last year. Federal
Reserve notes In actual circulation on
June Is, 1929, amounted TO $66, ,679, 900,
in comparison with $54 .o33, 900 on June
is, 1928. Member bank Reserve deposits
at the Federal Reseve Bank Of Rich
mond aggregated s70,6S3, 900 at the
middle Of June this year. and $67.055.-
900 at the middle Of June year ago.
The cash reserves Of the Federal Re-
serve Bank Of Richmond totaled $02,-
Tai, 900 on June IS. 1929, in comparison
with $74, 900 on June Is, 1928, but
the ratio Of cash reserves to note and
deposit liabilities combined was slightly
lower on the 1929 date, declining dur
ing the year from 60.82 per cent on
June Is, 1928, to 59s3 per cent on
June Is, 1929.
Department Store Sales Gain.
Department store sales In the Aggre-
gate for May were per cent larger
than In the corresponding month year
ago, according to reports made to the
Federal Reserve system by 523 stores
In 229 cities. For the first fiye months
Of 1929 sales, were up from last year
by per cent.
inventories Of the reporting depart-
ment stores at the end of May were 1
: per cent below the level Of o year ago,
according to reports from ABS stores.
Dividends and Other Notes.
The directors Of the Park Savings
Bank have declared the regular semi
annual dividend Of 5 per cent, pay
able July 10 to stockholders of record
July /.
Claude H. Woodward, president Of
the Mount Vernon Savings Bank, leaves
here tomorrow for Old Orchard. Me-,
where he will pass . months va
frank w. stone. vice president Of
the National Savings & Trust Co., win
leave here the last Of the week for
q months vacation. He plans to visit
Atlantic City, New York, and motor
through New England and on up to
Quebec.
Hilleary Offutt, cashier of the Dis
trict National Bank, Is another local
financier now taking his vacation
Net income Of Stanley Co. Of Amer
lea controlled by Warner Bros. Pic
lures, Inc) for nine weeks ended March
2, 1929, was $392, 2,652, after depreciation,
Federal taxes. etc.
Dollars and Sense STAFF.
President A. z. Henze of Washington
Chapter, A. ]. B., has appointed the
stan Of Dollars and Sense for the com
ing year as follows:
Aubrey o. Dooley, Federal-American
editor-in-chief; associate editors, Fred
English. Commercial National; Mis-
". Royce, Washington Loan g. Trust;
Robert q. Whitton, First National
Alexandria: business manager, Ray.
mond d. Lewis; assistant business man
ager, Robert e. Lee, Lincoln National
The yearbook will be In excellen
hands, as Mr.. Dooley and most OF th'
other staf members have already hat
wide experience In making 1t n srea
success.
Prices Steady ON Exchange.
Trading was quiet on the local Stocl
Exchange today. Capital Traotaol
moved In small lots at 90 and 81, Rail
Riggs National at 572 and 573, Mergen
thaier Linotype at lO6M and Distgic
National Securities preferred at 100.
Potomac Electric Power 5h per cef
preferred came out at l07h. and IL
shares OF National Mortgage dz Invest
ment preferred registered Al. PotG
mac Electric Consolidated IS and Wash
tngton Gas IS, series A, were the lead
ers in the bond division.
Only four issues on the exchange ai
now selling ex-diyidend.
Commodity Prices Firm.
Prices Of commodities remained al
changed during the week ended Ju
%, according to the wholesale price II
dex Of the National Fertilizer Associ'
ton. Four groups declined and thr'
advanced.
The largest declines occurred In q
4 group Of grains, feeds and live stoc
and the largest advances In pork, hide
RIB r..s ~ -'A-n-~ed meal.