Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-29
D. c. DEPARTMENT
STORES SHOW GAIN
Record Business Reported,
With Local Firms Lead
ing Other Cities.

Department store sales in washington
for the first seven months of 1928
showed greater gain in sales than the
average of 523 stores in 229 cities, as
compared to the first seven months OF
1928. but for the month of July the
stores in this city fell below the average
for the country, showing a decrease
from last July, according to the Federal
Reserve Boards report today on sales.
The percentage of increase for the
first seven months of this year in Wash
ington was 43, as compared to 3 per
cent in the aggregate from all reporting
stores, the Federal report shows. Wash
ington stores, however. showed a de-
crease of 06 per cent in July, as COM
pared to July. 1928, as contrasted with
3 per cent gain for the aggregate over
the same period.
The Richmond Federal Reserve dis
trict, of which Washington is part
showed gain of is for July and 2.6
for the first seven months.
Inventories of the reporting depart
ment stores at the end of July were
l per cent below the level of year ago,
according to reports from 433 stores.
The rate of stock turn, explained as
the ratio of sales during a given period
to average stocks in hand was shown
to be in Washington % for July and
1877 for the first seven months.
The statistics are for a month of
July, which this year had IS business
days as against only 25 business days
last year.
Chesapeake G. Potomac.
The Chesapeake g. Potomac Tele-
phone Co. directors, have authorized
additional facilities in this city involv-
ing expenditures of $201 ,315. bringing
the total amount appropriated for such
additions and betterments to the tele-
phone system in the District this year
to $1,685,23
The facilities to be provided under
this appropriation include the installa-
,tion of dial equipment for the opera
Mon of toll service in connection with
the installation of new equipment In
the National, Metropolitan and District
central Offices. and for additions to
equipment in various central offices
throughout the city. Also, additional
underground conduit and cable will be
placed in the West. Georgia and Cleve-
land central Office areas.
The board of directors OF the CheSa-
peake & Potomac Telephone Co., in
cludes: Charles j. Bell, E. c. Graham,
John Poole, B. F. Saul, Lloyd B. Will
son. Marshal D. Sedan, Philip o. Comm,
and D. S. Porter. Washington. and Wal
ter S. Clifford and Eugene S. Wilson,
New York.
Business and Dividends.
At a regular meeting of the board
Of directors of w. A. Sheaffer Pen Co. a
dividend of 81 per share and an extra
dividend of so cents per share was
declared, making a semi-annual divi-
dend of $3.50 or an annual rate of So
per share. 1t was declared on stock
Of record of August 26, payable Sep
%@v~ 4 he Of hn he
regular 81 per share and so cents extra
was declared.
National Department Stores, Inc, re-
ports for the six months ended July
81 net sales of $685. 03 and ap-
proximate net profits of $40. 595.
The board of directors of Coty. Inc,
have declared a regular quarterly divi-
dend of so cents share on the out
standing capital stock. payable Septem-
Der 80 1929. to stockholders Of record
September IL, 1929.
d. c. Exchange.
Trading was active on the local ex-
change today, principally in stocks.
Capital Traction SIS at 941a. Washington
Gas IS A at 10l Il a102, with last sale at
1914 Washington Gas IS B at 103l2a
1916, and Washington Railway g.
Electric As at S5A, comprised the bond
turnover.
Mergenthaler continued active at
los. Peoples Drug Store preferred,
came out at 1904 and woodward &
Lot.1rop preferred at LOT, up a point
and a fraction.
Capital Traction was active, ranging
from 9312 to $685., while Washington
Railway & Electric preferred went at
90. Federal-American National Bank
sold at 329.
Heard in Financial District.
John Poole, president of the Federal
American National Bank, is expected to
return in a few days from business
trip to New York.
Charles B. Lyddane, vice president
of the Federal-American National Bank,
is on vacation in Pennsylvania.
P. j. Mcmahon, assistant treasurer
of the Munsey Trust Co., who has been
spending his vacation in Canada and
at Atlantic City, and T. C. Willis. secre-
tary of the same institution. who has
been on vacation at Virginia Beach, are