Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-24
D. c. RETAIL TRADE
TOPS OTHER CITIES
Fifth District Bank Makes
ComparisonS-GainS Noted
in Recent Collections.
BY EDWARD C. STONE.

siderably below seasonal volume in
comparison with earlier months this
year. and averaged 11.6 per cent less
than in November, 1929, in dollar
amount Only 6 Of the 81 reporting
stores showed larger sales in November
this year than in November last year,
and 8 of these 6 increases were prob
ably due to store expansion and
larger stocks. Washington stores as a
whole reported smaller decreases in
sales last month than the stores in
other sections. Cumulative sales in the
first II months of 1890 totaled 80 per
cent less than sales in the correspond
ing period in 1929
Stocks of goods on the shelves of the
reporting stores showed q seasonal in
crease during November, but at the end
of the month were OF per cent less
than stocks on hand on November 80,
1929, part of this decrease being due to
lower prices in many lines this year.
The reporting stores turned their stocks
O.3 times in November, and between
January and November 80 the average
turnover was 3.c41 times, a higher fig
ure than 1859 times stock was turned
in the corresponding IL months IN 1879
Collections during November in 80 OF
the "a reporting stores averaged 26.3
per cent of receivables outstanding on
November l. a slightly higher ngure
than 282 per cent reported for Octo-
ber 1880, but less than 29.3 per cent
in November last year. Collections IN
Washington last month were slightly
better than in November, 1929, but
Baltimore and the other cities showed
lower percentages for the current month,
the Bank of Richmond reports.
District National Has Tree.
The District National Bank had a
Christmas surprise party after the bank
closed Yesterday which proved great
success President Joshua Evans, Jr.,
introduced Santa Claus, impersonated
by Col Robert N. Harper, who, assisted
by Miss Florence Kelly, dlsulouted
from the Christmas tree appropriate
presents to all the officers and employees.
The gifts ranged from DemocraJlc
donkey for Col. Harper to a toy pistol
for the night Waterman. Each glft
was accompanied by a wise crack:
which was read aloud when the GIT
was presented. s
Mr.. Evans was presented with hano-
some brief case by the employees ana
each officer made few remarks III
keeping with the occasion. Ice cream
and cake were served,
Convention Committee Named.
Frederick P. H. Siddons. chairman OF
the General Convention Commlttee OF
the District of Columbia Bankers Asso-
citation. today announced the appoint
ment of Mrs. Lanier p. McLacnlen as
chairman and Mrs. Edward j. McGuaoe
as vice chairman of the Ladies COM
nittee and the following to serve as
members of this committee: Mrs. CLAUDE
n. Woodward, Mrs. Frederick H. Cox,
Mrs. Hilleary G. Hoskinson, Mrs. G. +.
jacobson. Mrs Luther e. Schreiner, Mrs.
Albert S. Galley, Mrs. G. H. Pope, Mrs.
George o. Vass, Mrs. Frederick P. II.
Siddons. Mrs. j. Frank White and Mrs.
Wilmer j. Waller
Institute Vacation Starts.
Nearly 400 students Ct Washington
CHAPTER, American Institute OF Bank
ing, are now taking their Christmas
vacation, with classes suspended until
January 5. Final examinations for the
first semester will be taken about Janu-
airy is. So far there has been sur
prisingly small class mortality and 1t is
thought that the beginning OF the
second semester will find am exception
ally large percentage of first semester
students continuing the courses.
The class in public discussion and
debate, which includes about 20 students
and has been conducted by DR.. George
Farnham until his recent illness, has
held two debates during the semester
and will hold Others during the second
semester, the course continuing until
the close of the school year.
Watts Discusses 1891 Outlook.
The credit position is still sound
and money is cheaper than it has
been in a long time, said Lister T.
Watts of this city, director of the
National Association of Credit Men,
today, in viewing credit conditions in
1881. Money is cheap despite the arti1l-
cial stringency created in some quar-
tiers by an unusual degree OF caution
in making loans. Present low money
rates, together with reduced prices of
materials, have created a condition I'M
usually favorable for building, stimula-
ton Of which should be a prime factor
in recovery.
Perhaps the most hopeful consider
atoms for business in 1881, according
to Mr. Watts, are that inventories in
the hands Of dealers are almost uni
formly low and that accumulated con-
Almer needs are rapidly approaching
the point where forced buying for re-
placement must ensue. Probably the
one thirg that would do most TO re-
store confidence and promote return
to normal activity ne added, would be
definite evidence Of a sterilization Of
commodity prices.
Trading on ID. c. Exchange.
In Christmas trading On the
Washington Stock Exchange today II
shares of Capital Traction stock sold
ex-diyidend at 1914.
Two hundred shares Of National
Mortgage g. Investment preferred came
cut at 5l4 and SO more changed hands
at 5.
Only one other sale was recorded, 10
shares Of Potomac Electric Power So
per cent preferred selling at 1919.
Following the trading session President
Watson announced that the exchange
would be closed tomorrow, Christmas
day.
Directors Of the Second National
Bank met today and declared the reg
ular 3 per cent serni-annual dividend
and an extra dividend OF IL per cent
President Victor 3. Deyber announced
Both are payable January ! to stock
holders OF record December 81. The
bank has already distributed its Christ
mas bonus to employees.
Cleaned In Financial District
President William D. Hoover of tn,
National Savings & Trust Co is passinl
Christmas with relatives IN Yves
Virginia
Vice President Thomas p. Hickman
of the Franklin National Bank is il
Florida, where he is spending a yaca
ton OF several weeks.
Thomas Groom cashier of thu
Bank Of Commerce & Savings, has gon
to Charleston, W. Va, to pass Christ
mas
Directors of the Lincoln Nationa
Bank have voted , per cent Christina
bonus for all employees Of the bank
Norfolk & Western first IL month
net $20.O8 common share, agains