Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-23
RETAIL SALES GAIN
IS ABOVE SEASONAL
IN LOCAL DISTRICT
Federal Reserve Bank Says
Some of 81 Stores Have
Moved Ahead Rapidly.
TRADE IN WASHINGTON
PASSES OCTOBER, 1929
Woodward Named Chairman Of
Program Committee for Next
D. C. Bankers Convention.
BY EDWARD C. STONE.

Retail trade in "a department stores
IN the fifth district, according to the
Federal Reserve Bank of Richmond,
made q somewhat more than the usual
seasonal gain in October in comparison
with September and averaged 1.8 per
cent more in aggregate amount than
in October, 1929, although only IL
stores reported higher figures last
month, while % fell below their Octo-
her, 1929, sales.
However, says the reserve bank,
many of the declines this year were
small, while some of the city stores
went ahead considerably, chiefly as the
result of special sales which were put
on earlier this year than in most years.
Cumulative sales for the first 10
months of 1880 averaged 1.S per cent
less than total sales in the first 10
months of 1929, the bank adds, good
showing In view Of lower prices in
many lines.
Stocks carried by the reporting
stores at the end Of October showed
q seasonal increase amounting to II
per cent over stocks on hand a month
earlier, September 80, 1880, but aver
aged 9.3 per cent less in selling value
than stocks on hand on October 81,
1929. Part of the decline in stocks
0uII1K Tic year 10 Va CO0AoC AAC w
lower prices this year In many lines
handled by the reporting stores. The
stores turned their stock 1853 times In
October, and since January stocks
have been turned an average OF 2.1S9
times, q higher figure than 2.657 times
stock was turned in the corresponding
10 months Of 1929, the report says.
Local Sales Reveal Gains.
Collections during october in 80 of
the "a reporting stores showed sea-
sonal increase over September collec-
lions, but were not quite up to the
average of October last year. Collec-
lions in Washington were slightly bet
ter last month than in October, 1879,
but Baltimore and the other cities
showed lower percentages OF COLLECTIONS
70 total outstanding receivables.
Yesterdays report shows that sales IN
Washington stores in October were 2.S
per cent ahead Of october, 1929, were
up Al per cent in Baltimore, but on
as per cent In q group OF other cities
IN the district.
From January through October sales
were per cent higher In Baltimore,
OF IL per cent in Washington and
down Z per cent in the group Of other
cities. Stocks on hand at the end OF
October, compared with the last OF
october IN 1929, showed a decline Of
90 per cent y Washington, "a per cent
in Baltimore aSd over 10 per cent in
other cities, the Reserve Bank reports.
Woodward Made Program Chairman.
Claude H. Woodward, president Of
the Mount Vernon Savings Bank, has
been appointed by President Lanier p.
McLachlen of the District Bankers AS
ISOLATION to act as chairman Of the
Program Committee for the 1881 con-
vention to be helS at Hot Springs, Va.
Widely known in the financial district,
Mr.. woodward became vice president OF
the savings bank in May, 1927, and was
elected president of the institution in
January, 1928
He has been an active worker in the
District Bankers Association. In 1927
he was Q member Of the Protective,
Publicity and Commercial Activities
Committees. The next year ne was
vice chairman of the Transportation
Committee for the annual convention.
In 1929 Mr.. woodward was member
Of the council of administration, vice
chairman of the Advertising Commit
tee, and chairman Of the Transports
ton Committee for the Montauk Point
Convention.
Again this year he served as chair
man Of the Transportation Committee
for the convention held at Asheville,
N G. He Is on the council of admin
tstration and chairman of the Pub
Lefty Committee which has charge of
the bakners' monthly bulletins Out
side Of the banking field, he has been
a power in the Washington Kiwanis
ernor Of the Capital district which en-
braces Delaware, Maryland, Virginia
and this city.
From 1917 to 1924 Mr.. Woodward
was In business in New York Previous
to that time he had been a director
and member of the Discount Commit
tee Of the Second National Bank here
and a director and chairman of the
Auditing Committee of the Bank Of
Bethesda. Incidentally, he is a member
OF the Board of Trade, Better Business
Bureau trustee and member of the CO.
1umbia Country Club and Indian Spring
Golf Club.
Bonds Favored on Exchange.
Local bonds were popular on the
washington Stock Exchange yesterday
as the weeks trading ended. The
market opened with 81 900 City 81
Suburban IS selling at 80, followed by
$1,000 Washington Gas IS, series A.
moving at 1925, and $500 Washington
Gas BIS selling at los. Railway g. Elec-
trio As recorded 81, 900 sale at SO and
0SAAO
Gas 8, series A, going at 1921.
In the stock division Potomac Electric
Power per cent preferred sold ex
dividend at 100, Mergenthaler Linotype
moved In small lots at 80 and Peoples
Drug Stores preferred came out at 99M.
After call, Potomac Power So per cent
preferred sold ex dividend at LOT.
When the unlisted securities were
called OF, as Is done every Saturday,
the asked price on North Capitol Saw
ings Bank stock was raised to IA and
an asked price Of 80 placed on Wash
ington Base Ball stock, with IS still the
bid. It may be that some Of the stock
holders already see q pennant floating
over Washington next Fall.
The newly listed Columbia Country
Club ~ per cent bonds closed with the
. week with LOO bid and 1o11a asked.
Christmas Savings Lead U. s.
II Is announced that the average
Christmas Savings Club check In Wash.
ifikton this year will be 5000. The
average for the rest of the United States
win be $3.50, which places the Ma
tional Capital ahead of all other sec
tions Of the country In this type oi
savings. The checks are to be mailed
out by the 80 banks maintaining clubs
= A. l.