Evening star., 1932-01-27
STORE SALES DROP
.HfF I'll DISTRICT
Usual Gain Shown for De.
oemher, but Totals Are
+ Below 1890 Figures.
By EDWARD c. STONE.

Following the recent announcement
that retail sales in Washington in De-
cennber were IA per cent below the fig
ures for December, 1880, the Federal
Reserve Bank of Richmond gave out
further details and comparisons today
covering all sections of the fifth district.
In comparison with sales during the
early Fall months, department store
sales in the fifth Federal Reserve dis
trict showed the usual seasonal increase
in December. but averaged 81 per cent
less than sales in December, 1880. In
total sales for the year 1881, reporting
stores in the district showed decline
Of 63 per cent in comparison with total
sales in 1880.
Stocks of goods on the shelves of the
reporting stores declined 22.3 per cent
during the month of December. 1881,
and at the end Of the year were lib per
cent smaller, at selling prices, than
stocks on hand at the end of 1880.
Stocks were turned an average OF .567
times during December, and in the year
1881 stocks were turned an average of
3941 times, a higher figure than 1852
times in the preceding year.
NgDLttllOIlS III DtLGIlDGl dNCld
28l per cent Of outstanding receivableS
on December !. 1881, a higher figure
than 27.3 per. cent for November, 1881,
but slightly lower than 28.7 per cent
collected in December, 1880.
Washington retail sales were ahead of
RiChmOnd'S, which were down 1873 per
cent. better than Baltimore, which had
a shrinkage of 1O.7 per cent; above the
average for the whole district and also
ahead Of the cities in the district taken
as a group The drop of only 81 per
cent in sales for the year was also the
best record made.
Insurance Day" Great Success.
Paul D. Sleeper. chairman Of the COM
mittee appointed by the District Of Co.
lumbia Life Underwriters Association
for Life Insurance day, during National
Thrift week, stated today that the Vari-
Gus life insurance Offices have reported
receiving approximately 300 applications
for new insurance obtained on that day.
these applications amounting to a total
Of something over Sl,000,000.
Life Insurance day in Washington
was started by the life underwriters
with a breakfast at the Hay-Adams
House at 8 am. which was attended by
l68 men and women of the profession,
and at which various prizes were offered
by the association to its members.
The prize offered for the agency OBJ
tanning the greatest per cent Of new
applications, as compared with the
total obtained during the year 1881, was
won by the Washington agency of the
Connecticut Mutual Life Insurance Co.
under General Agent John L. Nc
Elfresh.
Prizes were also offered for Washing
ton agencies obtaining applications
from the greatest per cent of its agents,
one prize for agencies of over 10 agents
and one for agencies Of 10 or fewer
agents The first of these prizes was
won by the Washington agency of the
Continental Assurance Co, under the
management of Johnson 81 Adams, and
the latter of these prizes was won by
the Washington Office Of the Connect
cut Mutual Life Insurance Co. under
the management of John L. McElfreSh.
The prize for agents obtaining the
greatest number Of applications ended
in tie between D. T Scott and J. w.
Gibson Of the Mutual Benefit Life In
surance Co, and the prize for the sec
ond largest number of applications also
ended in tie between F. @ Clendaniel
and ]. c. Rundles of the Northwestern
Mutual Life Insurance Co.
B. & o. Reports Years Net.
Net railway operating income of the
Baltimore & Ohio Railroad in 1881 was
S26,230,851, against S40,248,614 in $780,
a decrease of Sl4,0l7,763, according to
the annual financial statement made
public this noon.
Net railway operating income for the
month of December totaled Sl,150, ,566
in comparison with S3,067,790 in De-
cember, 1880, a decrease of $19l7224,
the financial statement also showed.
OF, course. the main falling off in
earnings during the year 1881 was in
freight revenues. Freight income for
the II months totaled Sl3l ,977,796,
compared with Sl73706,337 in the
previous year, a decline in freight earn
ingS of Sal, ,728,641.
Passenger traffic showed falling off,
also; total passenger income amount
ing to $14,8Ol,5 SAC, against Sl8,567 622
in the year 1880, a difference Of
S3,766,076. There was also a decline of
slightly over $l,0O0,0O0 in income from
express.
The B. & o. made some very sub
stantial reductions in operating eX-
penses during the year. The cost Of
maintenance Of way and structures was
reduced almost 100000 maintenance
of equipment was reduced slightly over
$l0,O00,000 during the year while trans
portation costs were reduced $13,056,4 ,469.
Fire Insurance Trustees Named.
Trustees of the Mutual Investment
Fire Insurance Co. of the District of
Columbia were reelected at the annual
meeting of the stockholders just held.
They include Horace L. Beall, Franklin
P. Nash, H H Carter, M. Frank Rup-
pert, Vincent L. Toomey, Harry Kauf-
man and Vernon G. owen.
The debating team of Washington
Chapter, A. I. B., composed Of Arthur
z. Meade, Departmental Bank; Charles
c. Boswell American Security & Trust
Co, and Miss Constance D. Fogle,
Riggs National, will meet Baltimore
Chapter at Baltimore Friday evening.
The subject will be, Resolved. that
trial by jury should be abolished" the
local team defending the negative
This contest will be the first effort
of Washington Chapter in an intercity
debate in a long time, the young de-
baters having shown marked progress
under the instruction of Prof. Willard
H Yeager Of George Washington Uni
verSity.
Trading on D. C. Exchange.
Following the action taken by the
Board of Governors of the Washington
Stock ExchSnge, minimum price re-
StriCtionS were removed from the mis-
CelIaneouS securities listed on the eX-
change. Trading on the exchange was
dull Mergenthaler Linotype sold at
5l4 and Washington Railway g. Elec-
trio preferred changed hands at 90.
Small denominations of Washington
Gas Light bonds. series B, appeared on
the board at 100I2.
Heard in Financial District.
The Virginian Railway reports 1881
net income Of $5.05 a share on the COM
mon stock, against earnings in 1880 of
$3.50 a share.
The Norfolk & Western reports 1881
net earnings of $14.39 per share on the
common stock, compared with $2l.96 a
share in 1880