Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-06
BANK DEBTS Off
IN FIFTH DISTRICT
Reserve Banks Report Also
: Covers Recent Trade and
Building Activities.
BY EDWARD C. STONE.

The Federal Reserve Bank of Rich
fnond reports that with the exception OF
Portsmouth, Va, debts to individual
accounts in banks in "a cities in the
fifth reserve district showed declines
for the four weeks ended September 10
over the corresponding period in 1929
The figures include all checks drawn
against depoSitors' accounts in banks In
the "a leading trade centers in Virginia,
Maryland, North Carolina. South Caro-
lima, West Virginia and the District of
Columbia. These declining debts, the
report says, can be attributed In part
to declines in prices.
Total debts for the four week period
this year amounted to $1,024, 734, 600,
while in 1929 they amounted to $1,157.-
$4,000 in the same period. Debts in
Washington on September 10, 1880.
were $l82,6l6, 900, against $212,670,OOO
q year ago, the report says.
Details on Retail Trade.
Retail trade in the fifth Federal Re
serve district in August showed about
5 per cent increase over July trade, but
averaged Sc per cent below the business
done in August. last year according to
reports from 81 leading department
stores in the district Total sales this
year, through August 81, were is per
cent less than sales from January i
through August year ago.
Stocks on the shelves of the "a re-
porting stores decreased IL per cent
during August, and on August 81 were
81 per cent less in retail selling value
than stocks on hand on August 81, 1929.
The reporting stores turned their stocks
.243 times in August and since January
stocks have been turned an average
of 2l25 times, slightly higher figure
than 2006 times for the corresponding
period last year.
Collections in 80 of the "a reporting
stores averaged 236 per cent of re-
ceivables outstanding on August !, q
lower figure than 24.5 per cent col
lected in August year ago. Collec-
tons were generally slower in August,
1880, throughout the district, IS stores
reporting lower percentages this year,
z reporting higher percentages and l
reporting the same figure.
Bank Deposits Above 1929.
Twelve mutual savings banks in Bal
timore reported a slight seasonal decline
in deposits during August. At the close
of business, August 81, 1880, these IL
institutions had deposits aggregating
S195, ,767, compared with $195, 806,-
6S7 on July 81, 1880, a drop of $141 900
during the month. However, the August
81 figures was Sc ,949, 437 above deposits
aggregating S188,715, $50 reported by the
same banks on August 81, 1929. Fifty
six regularly reporting member banks
had time deposits aggregating $256, 49,
higher than $3.50 ,0o2 900 reported on
August IS, 1880. and $239. 729, 900 re-
ported on September IL, 1929.
Building Activity Reviewed.
Building permits issued in 80 cities
Af he ~ -
were fewer in number and lower in es-
timated valuation in August than in
August, 1929. Permits for new construc-
ton issued totaled 1857, with estimated
valuation totaling S6,173,596, compared
with 400 permits for new construction
issued in August, 1929. with estimated
valuation amounting to 1922 1922. Al
teration and repair permits and valu-
atoms were also less this year Com
bined valuation for all classes Of work
for which permits were issued totaled
S7,349,7l1 in August this year and $1o,-
011,679 in August last year, a decrease
this year of 1851 1858, or 26:6 per cent
Only of the 80 reporting cities showed
higher valuation figures in August, 1880,
than in August, 1929, the report made
today says.
TOday's Trading on Exchange.
Mergenthaler Linotype and Carpet
Corporation got most Of the attention
on the Washington Stock Exchange to-
day. Mercy" figured in four 1o-share
and one 20-share sale, all at 947s.
Carpet Corporation sold to the extent
of 275 shares during the session. 1t
opened with a 50-share block moving
at 24lI The next sale was so shares
at "a, so more at 2334, so more at 1914
and Is at 23H. The stock then adj
vanced, the last sale being so shares
at "a.
Washington Railway & Electric sold
TO the extent Of IL shares at go, Lanston
Monotype came out at ia and Potomac
Electric Power 5la per cent changed
hands at 108it.
Bond trading was confined to rather
4 small sales in Washington Gas Light
issues, around recent levels.
Heard In Financial District.
A folder issued by the Riggs National
Bank since the last call, shows that
the banks resources now total sec, 229,-
499
McCrory Stores Corporation today re-
ported decrease of ga per cent In
September sales and a decrease Of Ia
per cent In sales for the first nine
months Of the year.
DR.. David Fricay well known Wash
ington economist, predicts a sure but
slow recovery IN business for the re-
mainder of the present year, decided
Improvement in 1881, and probably an
other record year starting in 1882.
Rail R0A0 PURCHASED