Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-26
D. c. RETAIL TRADE
HOLDING UP WELL
Federal Reserve Report
Shows December Sales Off
Only 3 Per Cent.
BY EDWARD c. STONE.

01 EOnAhO Y. SIONEs
Full details on department store sales
in the local Federal reserve district
were made public today by the Federal
Reserve Bank of Richmond, showing
per cent below December, 1929, and
chat retail sales for the whole year 1890
were but / 5 under the 1929 figures.
December sales in Baltimore ran Al
per cent below December, 1929 and 81
Eer cent behind the full years business
in 1879. Average sales for the fifth
district in December we're Al per cent
OF and 81 per cent down for the full
year, compared with 1929.
Goods carried on hand on December
81, 1880, in Washington department
stores were over ID per cent below the
stocks on hand at the end of 1929, and
81 per cent under the stocks carried
on November 80, 1880.
Washington department stores made
by far the best record of any stores
Ain the firth district in sales, both for
December and the full year, in stock
turnover and also in collections in De-
cember. In the cities outside of Wash
ington and Baltimore, retail sales in
December were of IL per cent.
200 Bankers to Meet Tonight.
About zoo Washington. bankers will
attend the Midwinter open meeting of
the District Bankers Association at the
Willard, beginning at o'clock this eve
ming. with the president, Lanisr P. Nc
Lachlen, in the chair. Dr. David FRI
day, noted economist, win make the
chief address; President M. d. Rosen-
berg Of the Bank Of Commerce and
Savings will speak on his trip to South
America and the chairmen of all the
Important standing committees will re-
port to the association. Plans for the
coming Central States Bank Manage
ment Conference will also be divulged.
A buffet supper will follow the program.
Credit Men to Meet Here.
Two important divisions of the Ma
tional Association of Credit Men will
,hold special meetings in the Hotel May
flower on the last four days of this
week. Approximately 35 interchange
managers from the Eastern section Of
the United States are to gather on
Wednesday and Thursday. The adjust
ment and collection managers, some As
strong from the same section, will meet
on Friday and Saturday.
Prominent officers who are coming
here include Samuel Ardron, jr., of New
York City, manager of the Eastern de
vision of the N. A. G. NJ; Roy Colliton
of st. Louis, director of the Interchange
Department, and Walter G. Foster of
New York City. director of the Adjust
ment Bureaus.
Words of greeting to both groups viii
be voiced by Lister T. Watts of Wash
ington, who is also a director in the
national organization. Local arrange
ments are being handled by Charles w.
Crayton and John A. Reilly, president
and secretary manager, respectively, of
the Washington Association of Credit
Men.
Big Buyers Urged to Act.
The American Bankers Association
Journal qoutes H. Ennis Jones, Phila-
delp1ia banker, as stating that there
would be more merit in the buy now
campaigns If the great buyers we're the
objective instead of the small con-
surners. Mr.. Jones says:
Individuals are not boarding their
money in savings accounts as statistics
compiled by the American Bankers
Association for the year ending June,
savings deposited increased 1851. O0O,0 900
but interest computed at 81 per cent
on all deposits would have been $751;
5000, thus in reality savings did not
increase, but rather $720 000, 900 in in
tereSt was withdrawn. The number Of
savings depositors on June 30, 1880,
was 52,769,l75, representing an increase
of only 5,o4s over the corresponding
period a year previous.
This reserve Of savings is in many
instances the only backlog the Ameri-
can workman has against unemploy-
ment and unforeseen circumstances.
This Is not the time to persuade in
dividuals to withdraw their savings to
make purchases.
Buy now movements should first
be inaugurated and adopted by our
railroads, public utilities. corporations
kand individuals whose wealth and In
come place them In decidedly more
advantageous position to set the ex-
ample and lead the procession to buy
now rather than place the burden Of
leadership on the little fellow or aver
age citizen"
Heard in Financial District.
Announcement that Swift & Co. in
the near future will add complete line
of canned fruits and vegetables Is the
first indication from any Of the four
large packers of any change brought
about by the recent modification of the
packers consent decree Formal an
nouncement came from G. F. Swift,
president Of the company, through the
washington Office.
0OH44Aab Nsdh 4tOHl
Chapter, American Institute of Bank
ing, played return match with WASH
ington Chapter Saturday afternoon and
was defeated by 113 pins. The local
bowlers lost at Baltimore by only 81
rins, so that Washington Chapter
clearly has the strongest team. Follow
ing the match a dinner was enjoyed at
the Indian Spring Golf Club. attended
BY the officers and board Of governors
Of both chapters and their wives, about
IS guests.
Local holders of the stock win be
interested to know that Supreme Court
Justice Richard p. Lydon of New York
City has issued an order returnable
January % against Pathe Exchange,
Inc, and Radio-Keith- Orpheum Cor
: poration, decreeing that the defendants
show cause why an injunction should
not be issued restraining them from
transferring assets Of Pathe Exchange
4 TO Radio-Keith- Orpheum Corporation
under the proposed plan recently ap-
proved by stockholders. Suit Is being
brought by Fred Rcsenthal and other
minority stockholders.