Evening star., 1933-08-10
RETAIL TRADE LAGS
IN CAPITAL STORES.
Eight Leading Establish
ments Report Decrease of
7.8 Per Cent in July.
BY HAROLD b. ROGERS.

BY HAROLD B. ROGERS.
Retail trade in eight Washington de-
partment stores showed a decrease OF
78 per cent in sales during July of this
year as compared with last July, while
reports from 431 stores throughout the
United States showed an increase Of
per cent during the same period.
This was announced today by the
its retail sales report for July, 1888,
which showed further that for the first
seven months of this year the Wash
ington stores were slightly behind the
rest of the country, showing q decrease
of 14.3 per cent from the similar period
last year, as compared to a decrease of
13 per cent for the country as whole.
Baltimore Shows Gain.
Baltimore, with nine department
stores reporting. showed a gain of per
cent in July over last July and a de-
crease OF 13 per cent for the first seven
months.
Percentage changes in July and in
the first seven months of 1888 in COM
parison with the corresponding periods
n year ago were dS lOllOWS. F1lLH req
eral Reserve district, 40 stores gain 2
per cent in July, but loss of 1873 per
cent for the seven months: Virginia IL
stores. gain Of 81 for July, but loss of
1l.5 for the seven months; West Vir-
ginia, nine stores. gain of 33 for July,
loss of ia for the seven months; the
Carolinas, gain of los for July, loss of
Sc for the seven months
Similar comparisons for other cities
of the Fifth Federal Reserve District
were as follows: Charleston. w. Va,
four stores. gain 17.S per cent, and loss
>10.1 per cent Huntington. w. Va, three
stores, loss 100, and loss IL; Lynch
burg, Va. four stores, gain las and
loss l0.6; Norfolk. Va. three stores. loss
79 and loss 2l.1; Richmond, Va, three
stores. gain 80 and loss g. other cities
of the district, Is stores, gain 8.5 and
loss IT.
The Federal Reserve Boards index,
which makes allowance both for num-
Der Of business days and for usual sea-
Sonal changes. was SO IN July on the
basis of the l923-25 average as 100.
compared with 68 in June and 81
in May
Work on Code Problems.
Washington bankers are working out
their personnel problems with view
to complying in full with the N. R. A.
bankers code which was recently
signed Already some additional en-
ployes have been put on by some Of the
banks, and others are making careful
study of their situation to determine
what is to be done to comply with the
code The 20 open Washington banks
have all signed the code. and any new
banks which may open here after reor-
ganization are also expecting to ar
range their schedules, to come under
the code also
An exchange of stock in the proposed
street railway merger here appears not
only as possibility. but necessity. soon
for investors in both Washington Rail-
way g. Electric and Capital Traction
Co. securities.
Details of the new financial set-up to
be accomplished in merger of these two
lines virtually have been agreed to by
committees working on the problem
this week, The agreement will be sub
mitted to both the Public Utilities Com
mission and to the stockholders for ap-
prevail Details probably will become
public soon. The basis for exchange
of the old securities for paper of the
merged company. which will be known.
as the Capital Transit Co.. is awaited
with much interest by holders Of both
the bonds and stocks of the local rail-
ways The resolution OF Congress au-
thorizing the merger specifically pro-
vided for this exchange Of stock.
A new issue of 9l-day Treasury bills
will be sold on a discount basis in the
sum of about s75,0o0.000. it was an
nounced by Acting Secretary of the
Treasury Acheson. The bills will be
dated August 16, and will mature No
vember IS. The proceeds will be used
to retire a similar issue.
Banks Get More Time.
The time for National and State
all afiliates operated by them has been
extended by Controller of the Currency
O'Connor until September 16. The ex-
tension was granted. it was explained,
by the necessity of obtaining legal opin
ions with respect to involved questions
which have arisen.
The National Coal Association, from
incomplete car loading reports from the
railroads, estimates bituminouS coal
production in the United States for the
week ended August S as about 6,975 900
net tons. Production for the corre-
spending week: 1882, 4,465,000 tons;
1881, 6,874000 tons.
The report of the Bureau Of Mines
shows production of 1920, 900 tons for
the week ended July % and 7,550,000
for the week ended July %. 1888.
The District of Columbia Bankers
Association held its regular weekly
luncheon meeting yesterday at the Will
lard Hotel, discussing informally many
current problems before the banks OF
the city.
Extensive alterations by the Per-
petual Building Association have been
thrown open to the public. new
doorway, has been cut for an entrance
from E street. providing dlstlnctlVe
bronze door gateway to the institution,
in addition to the original entrance on
Eleventh street.
The marble counter space, Whlch mas
been more than doubled. was MADE
available to the public some time ago,
but the new dorowaN was thrown open
today for the first time.
Personal Mention.
George M. Fisher, assistant treasurer
of the Washington Loan & Trust Co.,
has returned from vacation at Allan
tic City.
Eliot T. Thomson. publicity director
of the washington Loan & Trust Co.;
has returned to his desk much improved
from a recent protracted illness.
Raymond G. Marx, controller OF Riggs
National Bank, who is now on vacation
here, was being congratulated today oy
his many friends in the financial dis
trict upon the arrival yesterday Of
son.
O. 3. Exline. assistant cashier OF the
Bank of Commerce & Savings, has
gone on vacation.