Evening star., 1931-12-24
SALES DROP SHOWN
IN FIFTH DISTRICT.
November Figures Reveal
Average Loss of 1874 Per
Cent From Last Year.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Department store trade in Novem-
ber in the fifth Federal Reserve dis
trict was not up to seasonal level, and
averaged 1874 per cent less in dollars
than sales in November, 1890, accord
ing to reports from "a leading stores in
13 cities. Only one Of the reporting
stores showed larger sales in November
this year than in November last year,
and that was due to special annt-
versary sale.
Washington stores as a whole re-
ported smaller declines in sales last
month than stores in other sections,
due probably to the steadier employ
ment conditions in the District of Co
lumbia than elsewhere in the district.
Cumulative sales in the first II months
of 1881 totaled ST per cent less in the
whole fifth Reserve district than sales
in the corresponding period OF 1880.
Stocks of goods on the shelves Of the
reporting stores showed seasonal in
crease during November, but at the end
of the month were 1913 per cent less
than stocks on hand on November 30,
1880, part of this decrease being due
to lower prices in many lines this year.
.296 times in November, a lower figure
than usual, but between January l and
November 80 the average rate OF turn
over was 1885 times, higher figure
than 3041 and 1859 times stock was
turned in the corresponding IL months
In 1880 and 1929, respectively.
Collections during November aver
aged 273 per cent of receivables out
standing on November l, lower figure
than 28.3 per cent reported for both
October, 1881, and November, 1890. The
slowness of collections was felt through
out the entire district.
The Federal Reserve Bank OF Rich
mond's detailed report made public this
noon gives Washington decrease Of
90 per cent from last year. November
sales in Richmond were off 1873 per
cent, in Baltimore 1873 per cent lower,
and 1877 per cent down in group Of
other cities.
Sales in Washington stores from jan
uary to November 81 are just per cent
under last years record. In Richmond
they are down 8.3 per cent, in Balti
more 7.3 per cent, and in other cities
1877 per cent.
Georgetown Gas Company Reports.
The Georgetown Gas Light Co. has
fled its report for November and for
the first IL months of 1881 with the
Public Utilities Commission. It shows
an increase in profits in November but
. decrease so far this year.
Operating revenue in November
totaled $106 447.15, compared with $780,
1868 in November, 1890. Operating
expenses, uncollectable bills and taxes
called for, $88,56097, against $83, ,357o
a year ago, leaving an operating in
come of $18,086.18, in comparison with
$13,029.54. After total deductions from
net income of SIS 5,341 .33, compared with
S9629.85, or gain of S6,7l1.4S
For the first IL months of 1881 op-
Grating revenues amounted to 81 ,08l $50,
against 1851, ,481 so in 1890 Expenses,
uncolectable and taxes totaled 1924,
639.97, while last year this item stood at
S764,3092 28 leaving an operating in
come Of $157, 7,146.58, against $l87, ,17233
last year. incorporating income brought
the gas company's gross UP to STA
s06.20, compared with $201 ,07008.
Deduction of s45 900 to meet bond in
terest and other charges left a total net
income of $124,336.58. compared with
S146,722.89, or a drop in profits for the
II months of 2,38231.
Banks Rema n Open Saturday.
All the banks in Washington will be
open as usual on Saturday While the
Government workers are enjoying an
extra holiday, not even being obliged
to take the time out of their months
annual leave, officers and employees will
be toiling as usual, because Congress
failed to vote legal holiday for the
District. Bank depositors who spend
all their money for Christmas will be
able to get money during the short
banking session Saturday. On the other
hand, those who have money left over,
will have a chance to make deposits on
the same day. The note tellers, too, will
be on their jobs.
Noted Banker Visits Washington.
Harry ]. Haas, president of the Amer
lean Bankers Association, was in Wash
ington and was a guest at the weekly
luncheon Of the District Bankers As
sociation at the Willard. Mr.. Haas
is one of the leading bankers of Phil
adelphia and followed Rome c. Stephen
son to the presidency Of the American
Bankers Association at the annual
meeting last Fall at Atlantic City. He
received a most cordial greeting here
and made a few brief remarks to the
local f1nanciers.
Second National Votes Dividends.
Directors of the Second National
Bank voted the semi-annual dividend
of per cent at meeting held yester-
day afternoon, and also an extra of
~ per cent. Both are payable on
January l, to stockholders of record
December rs. After banking hours
yesterday, the employees gathered in
the main office on Seventh street and
held a Christmas party, gifts being dis
tributed to all present, the president,
Victor B. Deyber, being in charge.
Yule Checks Sent Winners.
More than $1,000 in Christmas checks
are being sent to the 106 winners of
seasonal campaign just concluded by
the Acacia Mutual Life Association. it
Is announced by William Montgomery,
president. The contest was known as
the Christmas Check Campaign and
stimulated much interest throughout
the organization.
Six members of the Washington, or
home Office, agency staff were among
the winners in the contest. They are
j. B. Allison, w. C. Daniel, H. r. Har-
disty, A. R. Mead, F. B. Rogers and
p. L. Rogers.
Bank Director S6 Years Old.
Albert F. Fox, director Of the Wash
tngton Loan & Trust Co., has Just Gel
ebrated his 86th birthday anniversary
and was being congratulated yesterday
by his many friends. He was at one
time president of the Columbia Ma
tional Bank
Mr.. Fox is believed to be the oldest
bank director In the city, and there Is
some question as to who comes near
est to him in age
Exchange Takes Two Holidays.
The Washington Stock Exchange will
be closed tomorrow, Christmas, and the
Board of Governors has also voted to
keep the local market closed on Satur-
day This Is the same action as taken
by the New York Stock Exchange.
The Board of Governors of the
Washington Stock Exchange, at a
meeting today. removed the minimum
price restriction from all bonds and
from all the public utility stocks, effec-