Evening star., 1932-07-25
D. c. RETAIL SALES
/ Off DURING June
Better Than in Other Fifth
District Cities, Says Rich
nrOnd Report.
BY EDWARD c. STONE.

10 pei CSA1I IJMSI al dO44dl NO4dhiS oAAoA
in June, 1881, but ahead of the aver
age for the Fifth Federal Reserve dis
trict, in which sales were down 22.S
per cent.
Tha Federal Reserve Bank of Rich
mond reported that sales for the first
half-year in the National Capital were
14.9 per cent lower than in the first
half of 1881 and 1874 per cent lower In
the whole Fifth Reserve district.
Department store sales in June, IN
Richmond, were off 24.1 per cent, in
Baltimore, 24,6 per cent, and IN
group of other cities 80 8 per cent, these
figures leaving Washington in an en-
viable position. For six months, now
ever. Richmond made better showing
than Washington, sales being oil but
14.1 per cent.
For the half-year period sales In
Baltimore weIe off 1919 per cent, c1m-
pared with the corresponding months
a wear ago. For the district as whole,
retail trade was 18 per cent lower ana
for group of other cities, not ALREADY
mentioned sales were down 25 per cent,
the Richmond Bank reports.
Stacks on the shelves OF the report
ino stores on June 80. 1882. tota-ed IL
nsr cent less, at retail Selling V&lue,
fh3n stocks On June so, 1881, and also
showed a decline OF 81 per cent SlIlce
Nav 81 this year. Stocks were turned
en average of 299 times during tne
month of June and since January I
s1onls have baen turned an average OF
744 times, a lower figure during the
times stocks were turned during the
first half CT 1881.
Collections in 80 of the 33 report
ing stores averaged 25.6 per cenC oI re.
ceivables outstanding on june
lower percentage of recelvao4es col4ect.
ed during the month than 20I per ceIls
collected in June, 1881, the Rlcnlnollo
Bank says.
Loft Reports Sales Increase.
roft Inc. increased its expenditure
for newspaper space during the first SIX
months of 1892 by 35 per cent over tne
some period of 1881, resulting IN an IN
crsase in customers for the slE-montn
sales for June. 1882, totaled s1,o19,--
335 5O4. an increase OF $47,7o5.fl-4.sl
per cent. 80 1920
sales for the first six months tas.ose OF 1857 81
totaled S6,e13, 1851, an increase oi
1892, ,916.07-7.5 per cent.
The 1882 increase in sales is a gam
ovor a gain. For the first SIX montiiS
of 1881 Loft showed an increase IN
sales of 71.54 per cent over the same
period of 1880.
Local Beard Rooms More Active.
Interest in the New York stock mar
ke+ has increased very rapidly during
the past few days. The atmosphere IN
the local board rooms was much olIier-
ent today, as traders and investors
watched the strong opening ana tne
rapidity with which The quotations came
I'd FTha advances over
the week end caused much comment,
but tomorrow's meeting of the directors
of the United States Steel Corporation
seemed to draw the most attention.
Action on the preferred dividend, OF
course, IS the big issue to be settled.
The number OF holders OF United
States Steel Corporation common as VI
the end of June, 1882, indicates a con.
tinuation of investment buying In smal
quantities, says today's Wall Street
journal. This trend has been unbroken
for the past few years despite the steady
decline in the price of the stock. The
number of stockholders at tie end OF
last month stood at 190,024, new high
record.
There was a sight increase in the
amount of stock held in brokers' hands
during the past quarter. No particular
Significance can be attached to this,
since it has occurred before without
having any appreciable effect upon the
1ong-term price movements OF the STOCK.
Any decline in the number OF snare
holders would suggest accumulation OF
large blocks in fewer hands, develop
ment which in the past accompanied
rising prices, the journal comments.
+. Today's Trading on Exchange.
Washington Gas Light 6s, series A,
opened the weeks business on the
Washington Stock Exchange, $500 SELL
ing at 98Ia. Later baby bond sold
at 98H. A small lot of Potomac Elec-
trio Power 5 u per cent preferred stock
appeared on the board at 1o2. The
stock now being quoted ex-dividead On
the Exchange are Capital Traction,
Washington Loan & Trust and two
insurance stocks While trading was
slow on the local board, members of
the Exchange manifested wide interest
in the pickup in New York. Should
the present advance hold, the change
would be reflected on the Washington
Exchange in a short time.
New York City bank stocks, in which
there is so much local interest, ad-
vanced over per cent in value dur
ing the past week, based upon the aver
ages compiled by Holt, Rose & TroSter.
The aggregate value of 16 leading New
York City bank stocks at July % clos
ing prices amounted to $l,170, APT 900,
against an aggregate value OF Sl,l32,-
835 900 on July Is, and total OF $685.
895 600 reported on May 81, which was
the lowest total recorded since the 1929
decline started.
The average yield of the 16 stocks on
July % was 9.89 per cent, which COM
pared with an average yield Of 1921
per cent recorded at the close of the
previous week and a record yield of
1924 per cent on May 81.
S650,000, 900 Treasury Offering.
The Treasury is offering for subscrip
ton $3.50 900, 900 Treasury notes in two
series, both running from August /.
One series of $325,000 900 is for two
years with interest at 21s per cent and
the other is also for S325 100000 to ma
ture in four years with interest at 354
per cent
"Outstandiig certificates of indebted
ness in the amount of S227,631 900 are
due on August /, 1882" Secretary Mills
said The new offering will provide
funds for this maturity and also to meet
current financial requirements. prin-
cipally from the Reconstruction Finance
Corporation"
Call for Installment Payment.
Call for payment on August % Of
75-cent inStallment on each SIS principal
amount OF 10-year per cent debentures
Of Radio-Keith- -Orpneum Corporation
has been made to holders Of record as
of August instead of July 3d. as pre-
viously fixed. An interest payment from
June l to August % of l cent for each
IS principal amount will be due at the
same time.
U. S. TREASURY BALANCE.
By the Associated Press.
Treasury receipts for July % were
s397l. .548 79: expenditures S693l. =