Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-26


counted for
chiefly by price de-
clines during the - -e
past year. Howard Moran.
Individual rec
ords OF the reporting stores for the f1rst
nine months Of this year show wide
variations, some stores declining much
more than the average and some 9TH
ers reporting higher figures for 1881
than for 1880 AS a rule, the stores In
smaller cities, in which trade from
farmers is relatively more important.
show greater declines In sales this year
than the stores in the larger cities.
Stocks on the shelves of the report
ing stores increased an average OF l2.9
per cent during September, a seasonal
rise, but on September 80 averaged 1913
per cent less in retail selling value than
stocks on hand on September 80, 1880.
Part of this decrease in stocks Is due
to lower price levels in many lines this
year The reporting stores turned their
stock 298 times in September, and
since January / stocks have been turned
an average of 2.684 times, a slightly
higher figure than 1888 times for the
corresponding period last year.
Collections during September in the
reporting stores averaged 24.6 per cent
of receivables outstanding on Septern-
Der /, a slightly higher figure than 24.3
per cent collected in September year
ago, according to statistical reports
made public today by the Federal Re-
serve Bank Of Richmond.
AS previously announced, retail sales
In Washington were only Is per cent
below business in September, 1880, and
90 per cent ahead of a year ago in the
period from January to the end Of Sep
TENDER.
Moran on A. b. A. Committee.
Howard Moran, vice president Of the
American Security g. Trust Co., has
been appointed chairman for the saw
ings bank division of the American
Bankers Associations Committee on
Federal Legislation, according to the
complete list of committees and COM
missions just announced in the Bank
ers' Journal Mr.. Moran has already
served for considerable period on this
same committee.
Other fifth district appointments not
reported at the time of the Atlantic
City convention includes Paul p. Brown,
secretary North Carolina Bankers AS
ISOLATION, of Raleigh, who was made a
member of the Administrative Commit
tee G. E. Tiffany, president Fauquier
National Bank, Warrenton, Va, was
put on this same committee.
Hayward Z. Boyce, president Mary
land Trust Co., was made Maryland
State chairman of the Federal Legis-
lative Council Willard F. Jones, vice
president and cashier Planters National
Bank 81 Trust Co., Rocky Mount, N. c.:
r. F. Beattie, president First National
Bank, Greenville S. c.; S. H. Plum
mer, cashier First National Bank, New
port News, Va, and j. Howard McDon-
aid, vice president Wheeling Bank &
Trust Co., Wheeling w. Va. were given
similar honors.
Thomas B. McAdams. executive man
katn ,karet %. IL q "a ~.
Richmond, was appointed to the Fiftieth
Anniversary Committee. while Waldo
Newcomer, chairman Executive Com
mittee, Baltimore Trust Co. was assign
ed to a special committee on revised
statutes. The Agricultural Commission
includes j Elwood Cox, president Com
mercial National Bank, High Point,
N. c.
Trading on d. c. Exchange.
The week opened quietly on the
Washington Stock Exchange, with bid
and asked prices about where they left
of Saturday. The first sale was 81 900
Potomac Electric consolidated SIS at 101.
The only other bond sale was 81 900
Washington Gas Light es, series A,
which moved at 1001s.
In the stock division Potomac Elec-
trio Power 5l2 per cent preferred came
out at 1862 on small turnover. Mer-
genthaler Linotype figured in three
sales at Sc, same as the last previous
sale in this issue.
A large number Of third quarter loca!
dividends are due in the near future.
National Savings & Trust, Washington
Loan g. Trust. the American Insurance
Co and the Washington Gas Light Co
have recently voted their regular dis
bursements and are now being quoted
ex-dividend on the exchange
Washington Clearing House figures
for today. S3.3i0,62775.
Miller Wires Congratulations.
Following Geographic notice of the
organization of the Washington, unit
OF the National Credit Corporation. in
went into it 100 per cent strong, John
NJ. Miller, jr., the fifth Federal Reserve
districts national director. wired con-
gratulationS to Robert V. Fleming. the
banker Mr.. Miller asked to serve as local
organizer. He is sure the enthusiasm
shown by local bankers. the subscribing
OF nearly $4,000 600 TO the fund and
the fact that every bank in the city is
doing its fun part Will prove heartening
to organization workers all over the
country.
Farmers Paying Loans Promptly.
A. G. Brown, president of the Federal
Land Bank OF Louisville at a meeting
Of the presidents Of the Federal Land
Banks and the Federal Farm Loan
Board here, leported that, despite the
low prices for agricultural commodities
the morale of the farmers of the sew
enth district. covering Ohio. Indiana,
Kentucky and Tennessee. is good. De-
hnQuency on the part of borrowers is
somewhat greater than II was a year
ago but 90 per cent or more are pay
Ing their inStallments on their loans
from the bank promptly when due
Agricultural production in this ter
ritory this year has been far above the
fiveyear period and in Tennessee Ii was
three times the five-year average, mean
ing that, although commodity prices
from farming have been much bet
ter than they would have been If prices
had remained low and the crop had
been only normal in size.
Financial District Notes.
The Treasury Department is asking
bids on 60.000o00 el-day bills to be
dated November ?.
The Childs Restaurant Co. reports
sl.2O earned on common in the first
nine months Of 1881, against S13l in
the same period last year.
The Riggs Bank Club Esther Lau,
president held an oyster roast at
Witchcraft on the-Potomac yesterday.
the outing drawing the largest turn
out of members ON record.
The National Association Of Credit
Men reports that sales and collections
are resisting further decreases 50 far
in Octcber, 90 per cent of the CORE
spondents reporting sales as fair"
The Federal Reserve Board in its
Monthly Review, out today, notes bet
aVaf IN