Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-25
D c. RETAIL SALES
HOLDING UP WELL
Federal Reserve Report
Shows Decline Here Smaller
Than Elsewhere.
BY EDWARD c. STONE.

ment stores In September were AZ per
cent under TIE business done by the
same stores in September, 1929, accord
ing to the monthly report Of the Federal
Reserve, Bank of Richmond, made
public today. The average sales in
other cities in the nth Federal Reserve
district was per cent below last year.
Retail trade in this city for the first
nine months Of the present year made
q better showing than the figures for
September, sales being but 1.8 per cent
lower than they were in the correspond
ing period a year ago. The average
for the whole fifth district revealed
loss Of "a per cent.
Baltimore reported a falling of Of
IS per cent in retail sales in Septem-
Der compared with year ago, but q
loss Of only 0.3 per cent for the nine
months. Stocks on hand in WASH
ington stores In September were ga per
cent lower than in the same month
last year. In Baltimore they were "a
per cent lower and in the fifth district
as whole were OF 9.8 per cent.
Stocks on hand on September 80 in
local stores were Is per cent higher
than on August 81, 1880, while they
were is per cent larger in Baltimore
and IA per cent higher for the whole
fifth district, the report being made
up from data from "a leading depart
nient stores. The percentage Of Sep
TENDER J., 1880, receivables that were
collected in September was 26.7 per
cent ahead of the same period a
year ago.
August Business Surpassed.
Retail trade in the whole district IN
September showed an increase OF about
90 per cent over the volume Of business
done in August. but lacked 0 per cent
of euualing the amount OF sales in
September. The September increase
over August was somewhat less than
occurs in most years, and in COMPARE
son with the corresponding month OF
the preceding year, September mace
the poorest record for any month 1or
oniy of the "a reporting stores
showed higher sales figures for Septem-
Der. 1880, than for September, 1929.
Total sales this year, through aSep-
tember so, averaged "a per cent less
than sales from January through sep
teniber, 1929, although total sales in the
first five months Of this year slightly
exceeded sales in the corresponding
period last year.
Rapid Stock Turnover.
Stocks on the shelves of the 81 re-
porting stores increased 14.3 per cent
during September, q seasonal develop.
rnerit, but on September 80 averaged
Sc per cent less in retail selling value
than stocks on hand on September 80,
1929. Part of this decrease in stocks
Is due to lower price levels in many
lines this year. The reporting stores
turned their stock .274 times in Sep
TENDER, and since January i stocks
have been turned an average OF 1853
times, slightly higher ngure THAN z;ssI
times for the corresponding period last
Collections during September in 80
of "a reporting stores averaged 24.5 per
cent of receivables outstanding on Sep
TENDER /, lower figure than 25.7 per
cent collected In September a year ago.
Ten of the 50 stores reported better
collections in September, 1890, but Is
reported lower percentages. the report
said. z
Action Up 20 ID. C. Association.
The auditors section Of the District
Bankers Association has put up to the
full membership the question Of charges
for handling bills Of exchange, such as
cashiers checks, drafts. foreign bills,
etc, the idea being to make such
charges, should they be adopted, uni
form. At the last meeting Of the audi
tors section Raymond @. Marx, as
chairman of O special committee, re-
ported at length on the cost per item
Of handling such service. The COM
mittee made no recommendations, how
ever, and 1t was voted to refer the re-
port to the main association Tor nnal
decision.
A committee has been appointed by
the section for computation of assess
ments on member banks relative to
contributions. 1t will be based proper
tionately on total resources Of member
banks as of given dates. J. Damn Faber.
American Security & Trust Co.; Arthur
). Linn, Federal-American National
Bank, and Mr. Marx win form this
committee. Personnel OF the commit
tee on improbable accounts and busi-
ness will continue 70 serve throughout
the new administrative year.
A program committee has been APP
pointed to arrange discussions and pro-
cure speakers. Section members win
fions" 10 be read at the next meeting.
Some Of these viii be published In the
Auditgranl, publication Of the National
Conference of Auditors and Comptron-
ers.
Resolutions Of respect to the memory
Of the late John Ewing Benton, assist
ant auditor, American Security & Trust
Co., will be passed by the section and
copies forwarded to the family and the
institution.
Sees Buying Opportunities Here.
Eliot H. Thomson Of the Washington
Loan a. Trust Co. sees the present as
an opportune time for Westinghouse
70 increase their buying, and In this
way hasten the return TO normally. He
believes that buying wave would bring
- r. - IL a.. ESnWA
tai regardless Of conditions elsewhere
IN the country, adding: -
statistics show that the city's half
million citizens have an average spend
able income of 81 1923, compared with
1890 for New York, 81 100 for Chicago
and 1862 for Philadelphia. Almost
seven hundred millions to spend q year
should make sound conditions for WASH
1ngton business, and 1t would II and
when the public are buying. The trou-
Bile here seems due to fear to spend
money lest q worse condition arise
Nothing viii create such Q worse con-
dition' as that idea.
ION the other hand, II the public
realized the present purchasing power
Of the 1880 dollar, or, in other words
the bargains In clothes and furs, furni-
ture and food. real estate and invest
ments that are obtainable now, they
would buy now"
Bonds Seen Climbing for Year.
eRonds win continue their march
toward better levels for more than q
year after business hits bottom In thil
slump II history over IS years of de-
pressions Is any guide" says the Bank
ers, Magazine.
"Uneducated Wall Street is watching
for bottom in this business depression
tosdump bonds. It does not know ia
history or It would rest more easily