Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-18
SEASONAL GOODS
IN BETTER DEMAND
Further Price Cuts Likely to
Stimulate Buying Through
out Summer.
BY EDWARD C. STONE.

Demand for seasonable goods mas
been stimulated during the past two
weeks, not only by the advent OF warmer
weather, but also by the generation OF
increased public confidence resulting
from alienation Of an acute foreign
situation, says the Standard STATISTICS
Co of New York in its current review
of retail trade. which CONTINUES in part:
Such improvement Is not resulting
In a broad upswing in aggregate trade,
but. if it is continued. it will at least
mitigate the dizziness usually witnessed
in retail distribution during the sum-
naar months. Moreover, although buy.
n mainly On iow-priced merchandise,
current reports from leading retailers
indicate that consumers now are plac-
ing somewhat great.r stress on quality
GOODS than has been the case for some
time Prices have continued to decline,
and further recessions likely will be
witnessed before Fall. The level be-
yond which no further marked oecllnes
can be expected is being approached IN
many individual cases, however. ana
this condition should prove construc-
five factor in laying the groundwork for
greatly expanded replacement demand
during the Fall.
reports Of June sales, which now
are being made public by the leading
chain ORGANIZATIONS, disclose the most
favorable comparisons with 1880 results
experienced so far this year. Units OPP
Grating in the 5-and-10-cent and III
field recorded stable gains over year
earlier. Exclusive of the three mall
order houses which experienced crop
of nearly IL per cent in contrast WIN
:T,,ne 1870 the 40 systems which have
thus far reported show an increase OF
/ a per cent. Leading department stores
likewise are believed to have closely APP
proxinated results OF year carrier.
Nevertheless, the comparison OF May
and June figures in all divisions snow
that only a few concerns were able 10
maintain sales at the May level.
with the prospect for no marked ex-
pansion in retail demand before ran,
distributors are combining their requlsi-
tdons on iobbers and manufacturer 10
immediate needs and probably Will
continue this policy during the balance
Of the current month at least" the re-
view concludes.
Evans Better Business Head.
Joshua Evans. jr., president OF the
District National Bank, was re-electeo
chairman Of the Better Business bu-
reau at the annual meeting OF tne OH.
rectors held at the National Press Clup
late yesterday
Francis G. Addison, jr., president OF
the Security Savings & Commercial
Bank, was again elected treasurer, ana
M. G. Gibbs, president Of Peoples Drug
stores. Inc, was made vice chairman
of the board. r. B. H. Lyon Is counsel:
All three Of these ofhcials have served
the Better Business Bureau for several
wears taking particular interest in its
work of projecting the public from
fraud Louis Rothschild Is the director.
$4,000 Gain in Bank Drive.
Checks covering the fourteenth con.
eecutive dividend Of the international
Exchange Bank were mailed to stock
holders yesterday afternoon: The divi-
dend rate is 6 per cent, and yesterdays
disbursement was a semi-annual pay
ment at this rate. A considerable sum
was also transferred to surplus, accord
ing to President Joseph Schiavone, who
said that $46095.90 had been paid IN
dividends since he organized the bank.
The International Exchange Bank Is
now engaged in an intensive campaign
which has as its objective 100000 in
deposits. President Schiavone an
nounced that deposits have increased
about $4,000 since the campaign
started.
B. d O. Gets Alton Railroad.
The Interstate Commerce Commission
has authorized the Baltimore IL Ohio
Railroad to acquire control of the Chi
cago g. Alton Railroad system through
o new company. the Alton Railroad.
which 1t organized for this purpose.
The new company was authorized to
assume liability for the payment of
companies Of the Alton, $45,350,000
3 per cent 50-year bonds issued by the
Chicago g. Alton. 1895. 400 OF out
standing equipment obligations and
$1,000, 900 of receivers notes.
The Alton Railroad was authorized to
issue $25,o0o,000 of 500 par common
stock.
Heard In Fina ncial District.
The meeting of directors Of the Title
b Investment Co. of Maryland. which
was to have been held yesterday to an
prove working agreement between the
District Lawyers and Washington Title
Insurance Cos, with a new corporation
taking over title work Of the first
named company. has been postponed
until Monday. Directors of the three
last-named companies approved the
plan Thursday.
Joseph T Exnicios. president Of the
Departmental Bank. announces that his
institution is offering special type Of
character investment loans The bank
has Iust put out circular describing
the plan in detail, one Of the rules be-
ing that when customer gets a lean
he must start savings account and
agree to pay stated sum every month.
The United States Fidelity & Guar
antv Co of Baltimore has declared a
quarterly dividend of 25 cents, payable
August IS TO stock Of record July 81.
Previously, quarterly dividend Of so
cents had been paid.
Richard L. Morris of F. B. Keech &;
Co and Darragh A. Park. vice presi-
dent Of Manufacturers Trust Co., have
been elected directors Of New York
Dock Co 70 fill vacancies.