Evening star., 1932-05-27
DECLINE IN STORE
SALES REPORTED
April Figures Off 1863 Per
/ Cent From 1931-CapitaI
I Traction at 10.
BY EDWARD c, STONE.

BY EDN AND y, S1o1>L'
Detailed figures from the Federal Re-
serve Bank of Richmond show that de-
rartment store sales in Washington in
April lacked just 1853 per cent from
being equal to the trade total in April,
1891 This was a better showing than
for the whole fifth district, which was
off 2O9 per cent in sales, better than
Baltimore which was down 2l.3 psr
cent and ahead of Richmond, when
was % per cent under April sales
year ago.
WASHINGTON is also lucky in the show
ing made in the first four months OF
1882, being but 14.3 per cent under the
like period in 1881, while the nth dis
trict as whole was down l1.o per ceht,
Richmond off 179 per cent, Baltimore
10 per cent and a group of other cities
PAS rer cent. The Capital led all other
cities in the territory in the rate OF
stock turnover in April compared WIN
business in April year ago, althougn
Richmond had better turnover CON-
pared with the previous month CT
March. 1882.
Tcdays report from the Reserve Bank
of Richmond, after noting that reISll
sales in the entire area averaged 2O,9
Der CtIll ltSo llldll III EAPi L.
that part of the decrease was probably
due to the earlier date of Eastr TINS
year The report adds:
Stock of merchandise changed very
little in the reporting stores during
April, but at the end OF the month
averaged 1871 per cent less in selling
value than stocks in the same stores on
April 80, 1881. The stores turned their
stocks .296 times in April and between
thic ctOnES
we're turned an average OF LIZ tlmes
a lower figure than 1907 times stocks
were turned in the first four months OF
1881. ,,
Collections were slower in April, 1882
than in April, 1881, the reporting stores
collecting 271 per cent of outstanding
receivables last month in comparison
with 288 per cent collected in April
last year. All of the cities for which
individual figures are available showeo
lower percentages for the current
month.
CAPITAL Traction Sells at 10.
Two small sales of Capital Traction
stock we're recorded on the washington
Stock Exchange today at 10, the lowest
point this issue has ever reached. The
two sales we're made at the opening OF
the marekt and were for five shares
each.
A great deal of Capital Traction stock
was bought several years ago around
500 a share as sound investment and
not a speculation. For a long time the
stock sold in the eighties and ninotieS
and at that time was one of the lead
ers on the local board, the yearly vol
ume of transactions reaching high
figures.
It is said that much of the stock
that cost 500 a share is still owned
by the original buyers The idea has
prevailed that there would be merger
of the local street car lines and that
the Capital Traction stockholders would
profit by such a move. The stock
has slowly but steadily worked lower
since last July, when the cut-rate taxi
cabs began to swarm the city streets
Earnings soon began to reneet s Ins
keen competition and dlVloenoS Hao
to be lowered.
Todays market closed with 10 bid
and 1919 asked The next stock sale
was in Potomac Electric Power 9 per
cent preferred, which sold at 1O7l2 Tor
five shares. Washington Gas Llght
stock hit a new low on the present
move, 10 shares selling at IS. one
other stock sale took place during the
session five shares of Washington Rail-
wav e. Electric preferred moving at !9
Bond sales we're confined to WASH
ington Gas Light IS, series A. S3Oo
5000 s1OO and s4OO selling at 98i4
and $1,000 at 98l2.
c. P. April Phone Net Lower.
According to the monthly statement
filed bv the Chesapeake & Potomac
Telephone Co. with the Public Utllltles
Commission, balance before DIVIDENDS
in April totaled sl5O.495 against Sl7O,-
eO2 in April. 1881. For the first four
months of 1882 balance before olVl-
dends totaled S629,50 in comparison
with the higher figure in the like pc
riod last year of S590,5O5.
Telephone operating revenues were we're
larger than a year ago, being Sol22o
against s7S5,S45. At the same 1a t7lne
operating expenses were heavier, so72'-
So against S514,624. leaving net oper-
ating revenues of S239,354, compared
with s27l .221 a year ago, or falling
of of s3lS67.
The report shows an increase IN un-
collectib!e bills, larger incorporating
revenues and interest deductions OF
s2l,236 against s32,9l1 in April, 1881.
There was a drop of 16 per cent IN
out t-of-town calls, showing how busl-
ness conditions in other parts OF the
country are affecting phone earnings
here. However, there was a net m
crease in telephones in April OF 654,
about 20 per cent less than in April,
1881. The increase in telephones for
the first four months of the year was
3,O68 as compared with 3,349 for the
same period last year.
In April the company handled 20,359,-
900 calls> compared with l9'l92,ooo IN
the same month in 1881. In the first
four months calls numbered 79,366,OOO,
against 73,461 900 a year ago.
c. H. Pope Addresses Accountants.
At the luncheon of the District of
Columbia Institute of Certified Public
Accountants yesterday, at the National
Press Club, Christopher H. Pope, presi-
cent of the District of Columbia Bank
ers' Association. was the speaker.
Mr.. Pope explained the plan Of the
Owen D. Young Committee of Twelve,
formed last week in New York, and
what may be expected of it toward the
relief of the credit situation especially
when its work is harmonized with that
of the Reconstruction Finance Corpora
ton.
The G0-40 tax plan of the Mapes
Committee for the District of Colum-
bia also was discussed. J. II. Grice,
president of the institute, presided.
Heard in Financial District.
Grayson M. P Murphy, head of the
New York Stock Exchange house by
that name, called on several friends in
the financial district today while in the
city to visit the local office.
George o. Vass, vice president and
cashier of the Riggs National Bank
attended the convention of the Nation
al Forestry Association in Baltimore
yesterday.
Bank clearings in Washington for
the week ended May 25 totaled ST.