Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-31

total Of S7,772 ,273.50, which they intend
to deposit during the year to have
available for use next Christmas
This is an increase of 3,729 accounts
over last year, when the total member
ship was sT,70l, and a gain in the
amount subscribed over 1929 of $780,
1874, last years subscriptions to the va
rious clubs having been 81 1852, 079.
The splendid increase of nearly $500
members and the substantial advance
in the funds to be set aside during the
present year in these clubs are most
gratifying to President Waller
Unstinted praise is due Eliot H.
Thomson of the Washington Loan g.
Trust Co., who is chairman of the as
sociation's advertising committee, and
his associates. Mr.. Thomson has been
chairman Of the important committee
for several years and has put in great
deal of very hard work in pushing the
thrift and Christmas savings idea.
Substantial Gains Surprise.
The gains in both members and de-
positS are a real surprise. Local bankers
had no way of telling how great det-
rirnent to savings the New York stock
market crash might prove. Many feared
that the Christmas savings clubs this
year would reveal drop in the number
OF members as well as in the amounts
subscribed.
During the last part of 1929 savings
accounts In washington and all over
the country suffered quite severe de-
clines. Some of this money was with
drawn to protect margin accounts in
New York, other funds were used to
brace up security loans made through
the banks and still more savings bank
money was employed In buying secur-
tiles outright which investors had never
expected to. own,
The break in Wall Street, however,
has apparently made Washington people
all the more thrifty. Under direction
Of Chairman Thomson, the District
Bankers Association put on the usual
cooperative campaign, wildly pointing
out the advantages of Christmas Saw
tngs Clubs and the splendid uses to
which the money can be put at the
end of the year. The MunSey Trust Co.
also joined the banks having clubs
The approximate $7,500,00O made
available to local club members just be-
fore Christmas this last year proved of
tremendous value to the depositorsa 1t
seems probable that nearly all OF last
years members have Joined the clubs
again this year. and that 3,729 more
have taken the same step. Had the
stock market not COLLAPSED, zthe COM,
nllttee might have reached its goal Of
100,0 900 members. -
Retail Sales Establish Record
Department store sales in. the Rich
mond Federal Reserve district, which
includes Washington and the sur
rounding territory, made q far better
showing than any Of the IL other Fed
eral Reserve districts In December, ac-
cording to reports to the Federal Re-
serve System from $50 stores located
in the different areas
In fact, only two of the IL districts
showed gains in sales, the Richmond
district leading with an advance of 1.8
per cent over December, 1929, and San
Francisco reporting a gain OF four
tenths Of per cent. Chicago and st.
Louis made the poorest sales showing
in the whole county,, while Dallas and
Atlanta also experienced severe Slumps.
Department store sales for tie United
States as whole were on 2.5 per cent,
which makes the gain of almost 2 per
cent in this territory the more remark
able. For the entire year sales over the
country as a whole we're more favorable,
revealing an advance Of per cent
above the 1928 figures.
Richmond Leads Entire Country.
Inventories of the reporting depart
ment stores at the end of 1929 were in
the aggregate at about the same level
as year ago. Decreases were re-
ported for eight Federal Reserve dis
trfcts, increases for the Chicago, Dallas
and San Francisco districts, and little
change for the New York district.
Changes in sales and stocks of re-
porting department stores are summar-
lied by districts in the following table
showing the percentage increase or de-
crease tn 1929 con. pared with 1928: