Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-02

September sales John A. Cron..
12.5 per cent above
the month Of last year: IA hardware
firms had 6.3 per cent gain; 10 dry
cent, and IL drug dealers reported a
per cent increase. Grocery sales Of
IS firms were Al per cent below Sep
TENDER, 1928.
Dry goods showed the largest ex-
pansion over August of this year, with
a 1876 per cent gain. Hardware sales
increased 7.6 per cent. shoes 2.6 per
cent and groceries is per cent. Drug
sales fell of 0.8 per cent.
In total sales from January to Sep
TENDER 80, all lines for which informal
ton was available except drugs show
lower figures than those for the CORE
spending period of 1928. Gain in drugs
amount to 08 per cent.
Stocks on the shelves of reporting
firms at the end of September this
year were larger in groceries and hard
ware than on August 81 or September
30, 1928. but dry goods and. shoe stocks
were smaller on September 80 this
year than at the end of the preceding
month or the corresponding month last
year
Collections in wholesale lines in Sep
TENDER were better this year than last
in dry goods, shoes, hardware and drugs,
but there was a slight decline in COL
1ections on groceries. Percentage of
collections to outstanding receivableS
for September, 1929. varied from SO per
cent in groceries to 20.6 per cent in
shoes.
Margin Reduction Announced.
z. A. Pierce & Co., New York Stock
Exchange brokers, have announced
reduction in margins from 80 per cent
to IS per cent.
Bernard A. Smyth. manager of the
firms Washington office, said today
that he did not consider the amount OF
the reduction in requirements nearly so
important as the effect 1t will have on
sentiment.
The fact that the heads Of the con-
Germ feel that the situation in the New
York stock market has improved suffi-
GENTLY to lower margins Is definite
indication that they believe prices are
down to a far safer basis than they
have been for many months. that the
days ago, that such panic will not be
witnessed again in long time.
Several other New York firms have
also cut margins and it Is expected that
practically all exchanges will take SIM
liar action. In ordinary times they
have practically the same margin re-
Quirements, although some will deal in
Waller to Address Ad Club.
Strike Up the Band-Here Comes
Santa Claus" is the subject that Presi-
dent Wilmer j. Waller Of the District
Bankers Association will discuss at the
luncheon meeting of the Advertising
Club of washington next Tuesday at
1880 o'clock at the National Press Club.
Charles j. Columbus, the managing
director, expects very large attendance,
as the speaker is expected to present
many important facts bearing on the
trade outlook.
Other events arranged by the Adver-
Using Club for the remainder Of the
November 12-v. A. Corcoran, New
York, on Selling to 2,400, 000-and
How" Mile. Sturkow Ryder, concert
pianist.
November 19-Louis Flader, Chicago,
commissioner of engraving industry,
"The Picture Age"
November 26-Editor Taft of Phila-
delphia Public Ledger, Washington
Retailers in 1880"
Crone Expert on Curb Stocks.
In connection with the expanded New
York Curb Market table of quotations
now being printed in The Star, some
thing about John A. Crone, who writes
a daily dispatch on the Curb Exchange,
is OF special interest.
Mr.. Crone is a graduate of Columbia
University. He is now connected with
the Consolidated Press, has spent most
of his business life in Wall Street and
has made a speciality of the Curb Market
He is contributor to many financial
magazines In addition to his daily re-
ports.
The Star is now presenting the high
low and close in the Curb Market daily
and also the close of the previous day
as we'll, and the high and low quotations
for the year, a comparison always con-
sidered of great value. Furthermore
total daily sales are printed, the volume
of trading in any issue always being OF
vital importance.
Heard in Financial District.
Directors of the Park Savings Bank
have declared an extra dividend of pei
cent, payable on November 10.
The first of a series of addresses tt
Washington women on Finance" viii
take place Monday morning. at 1890, al
the Mayf1ower Hotel. The talks arr
being sponsored by the Continental
Trust Co., the aim being to give womer
better information on all financial mat.
tiers. A general invitation has been ex
tended to those interested.
For the week ending October 81
Washington bank clearings were $28
$50 900, against $27,529,OOO last week
and an increase of IL per cent over thu
corresponding week last year.
Eugene E. Thompson, head Of Crane
Paris & Co., has returned from shor
trip to New York.
George o. Watson, president of tn
Liberty National Bank, went to New
York last night TO meet Mrs. Watson
who arrives home from a trip Il
Europe today.
Fox Net Up 1870 Per Cent.
Fox Film Corporation reports incom
of S347l 900 for the third quarter, com
pared with 81, soc, $50 in the correspond
3ng period of 1928, which is an In
crease of more than 100 per cen
Earnings for the nine months ende
September 80 were S6.845 900, compare
with S4.0l646l in the correspondent
period OF 1928. This is equivalent t
1851 per share earned on the tots
92O. $50 shares of class A and B Stoc
outstanding, against 1882 In the mrs
nine months of 1928.
Directors of r. & w. Grand 5-l0-2
Cent stores, Inc, declared a stoc
dividend of S per cent on the commo
stock, payable November Is to stock
record November IL.
Brokerage houses in New York n
port they are opening many new &C
counts. Which Is helping to offset oil
accounts closed out by forced sellinl
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