Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-12-05

tailed III shares
Washington Gas 49,
Light sold at 100 u
on, 3-share sale.
Peoples Drug Stores A
pref TERED was ~ 1911
Stronger, opening -aA'azzs
at los and closing Maurice ot,er,,,x
at LOG. Merchants
Transfer e. Storage preferred came out
at 100 for % shares.
Potomac Electric Power 5l2 per cent
preferred came out at 104 and closed
at 1O4l2 One hundred shares of Bar
Der & Ross common sold at 1712, and
Federal-American Co. common moved
at 80.
Bond sales were confined to Capital
Traction 5s, the turnover being $1,000
and quotations ranging around 91A.
Otterback Heads Loan Association.
Maurice Otterback was elected presi-
dent of the Eastern Building g. Loan
Association at the monthly meeting last
evening taking the Office made vacant
by the death of Alexander Mckenzie.
The new president is president of the
Anacostia Bank and has been vice pres
ident of the building association for
many years.
At the same meeting Clarence F.
Donohue was elected vice president 10
fill the vacancy caused by the promu-
ton OF Mr. Otterback and John M.
Riordan, vice president of the Bank or
Commerce & Savings was made IL
member of the board of trustees to fill
the Mckenzie vacancy in that body
Mr. Riordon has been one OF the au-
ditorS.
Mr. Otterback was elected president
of the company because of his long
service He has been connected with
the building and loan association Tor
years.
Retail Trade Figures Compared.
Latest detailed reports from the Fed
err Reserve Bank of Richmond show
that washington department stores in
creased their sales in October by "A per
cent over october, 1928.
The percentage increase in local sales
since Januay l, over sales during the
first 10 months of 1920 was Al.
The increase in october sales over the
average october sales during the three
years l923-1925 was 22.2 per cent.
Increase in stock on hand in October
over the same month year ago was OIL
per cent.
The increase in stock on hand on Oc-
tober 81 over September 80, 1929, was
112 per cent.
The percentage of sales in october,
1929, to the average stock carried dur
ing that month was 36.1.
The percentage OF total sales since
January l to the average stock carried
during each of the 10 elapsed months
was 284.7.
Baltimore stores led in percentage in
crease for both october and the first 10
months of the year, but Washington
stores led in gain over average October
sales in the three years 1923-1925, in
elusive, chiefly because of store expan-
sion.
washington stores also led the other
fifth district cities in rapidity of stock
turnover. Local collections, however,
were off per cent, bringing the fifth
districts average below last year.
Local Wholesale Trade Review.
Sixty-nine wholesale firms represent
ing five leading lines sent reports on
October business to the Federal Reserve
Bank of Richmond. The reports from
grocerS show a seasonal increase in Oc-
tober sales over those reported Tor Sep
TENDER, but very small decrease in
comparison with october, 1923. sales.
Dry goods sales last month were ma
terlally less than sales in September,
but were only a small fraction of / per
cent below October. 1928, sales. Shoe
sales were less in October than in the
preceding month, but exceeded October,
1923, sales by a substantial margin.
Both hardware and drug sales were
larger last month than in September
and drug sales also were above those of
last year, but hardware sales showed a
moderate decline in comparison with
October, 1929 Total drug sales in the
first 10 months of this year were slight
~ larger than sales in the correspond
ing period year ago, but grocery, dry
goods, shoe and hardware sales this
year were less than those in the first 10
months Of 1928.
tod Mt fl,o Of
were seasonally larger in firms selling
groceries and allied lines than on Sep
TENDER 80, and there were also small
increases in wholesale shoe and hard
ware stocks, but dry goods stocks de-
cllned during the past month, another
seasonal occurrence. In comparison
with stocks carried year earlier those
on October 81 this year were larger in
groceries, but were smaller in dry goods,
shoes and hardware.
The percentages of collections in Oc-
tober, 1929, TO accounts receivable on
the first Of the month not only showed
seasonal increases over September COL
lections in all lines reported upon, but
were slightly better than the percentage
attained in October, 1928. Dry goods
and shoes tied in amount of improve
ment with 1.6 per cent.
Cleaned in Financial District.
The attendance at the weekly lunch
con of the District Bankers Association
yesterday smashed all previous records
Bankers SWamptd with extra work. be-
cause of the Wall Street crash are now
having bit more time off duty
Local bankers were much interested in
the presence here today of John G
Lonsdale, president of the American
Bankers Association, to attend the
prosperity conference at the Chamber
of Commerce. Other noted financial
leaders were also in the city.
President Lonsdale declares that. his
section of the country, st. Louis and vi
clnlty is rounding out good year. HIT
says that public confidence everywhere
is being rapidly restored and that bust.
ness is becoming stabilized.
The November sales of the McCrory
Stores Corporation totaled 81, 854, 39I,
gain of 1168 per cent over November
1929 Sales for the first IL months o
the year were l0.4O per cent better thar
last year
The sales of the S. S. Kresge Co. il
November were 757 per cent ahead o.
November, 1923, and for the II months
were 779 per cent above the total fo
the corresponding period year ago
The December issue of the American
Business Review, published in New York
contains a most AUDITORY mention O
the brokerage firm of w. B. Hibbs e. CO
This firm was organized in 1889 by w
B. Hibbs, in 1900 w. w. Spaid was mad
partner and in the reorganization o
1928 Karl w. Corby became an activ
partner and J. Thilman special part
ner.
PARIS BOURSE PRICES.