Evening star., 1933-02-27
WHOLESALE TRADE (
GAINS IN JANUARY
Fifth Federal Reserve Dis
trict Reports Improve
ment Over Year Ago.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Wholesale trade in the fifth Federal
Reserve district presented a better pic
ture in January this year, III some
lines, than it did a year ago, the Re-
serve Bank of Richmond reports.
In three wholesale lines sales were
better than last year and four sales
in January were greater than in Decem-
ber, the report states.
Hardware showed a gain of 90 per
cent in January, 1888, over January.
1882; dry goods were up At per cent
over January year ago, and wholesale
shoe sales made a gain OF "a per cent
over the corresponding month last year.
Drugs, hardware, dry goods and shoes
were the four lines that revealed an ad-
vance in sales over business in De-
cember.
The Richmond bank reports that re-
tail sales in the fifth Reserve district
during the past few days have shown
Improvement. The Washington birth
day holiday made a difference in the
total volume of trade in all lines
Some retail stores remained open in the
fifth district and others closed for the
day, so that comparisons with the pre-
NlOuS WEEK dle SUlilE " W III
conclusive.
The other IL Federal Reserve dis
tricts made varied reports on last weeks
trade. The shoe business seems to have
made the best showing in the past 10
days.
Firms Increase Earnings.
Despite the fact that aggregate earn
ingS of 633 induStrialS, rails and utill-
ties for the fiscal and calendar years
of 1882 showed q drop of 1877 per cent
as compared to 1881. 49 of these COM
panies were able to improve their net
showing. according to to a compilation
issued today by Moody's Investors
Service. All of these companies showed
net earnings in 1882, nc companies
with merely smaller deficits being in
cluded.
The companies with increased earn
tngs were scattered throughout all
branches of industry, and only two
groups, as whole, able to show con-
sistent improvement. These were the
petroleum in which II companies reg
istered an aggregate gain of 1877 per
cent and the gold mining group in
which the gain was 10 per cent.
The better showing in the petroleum
group was made in the face of drop
of 78 per cent in domestic gasoline
consumption, and was due to better
prices for petroleum and its products
during much of 1882, combined with
economies in operation. In the case
of gold mining group. activity in gold
extraction was stimulated by lower
commodity prices.
The small size of many of the COM
panies which reported gains tended to
confirm the theory that smaller COM
panies in many industries are bene-
fitting from the absence of heavy over
head charges and large plant invest
ment, which enables them, in many
cases, to underbid their larger competi-
tors. However, their earnings are of
minor Importance in the aggregate,
Moody's says.
Acacia Life H0nors Agents.
Officers of the Acacia Mutual Life
Insurance Co. gave luncheon at the
MayfloWer Hotel today in honor of the
men of the Washington and Baltimore
branches Of the company. These
branches led all others curing the
calendar year 1882.
Officers and members of the home
office staff present included Vice Presi-
dent j. P. Yort and Samuel E. Mooers, D.
F. Roberts and DR.. j. B. Nichols, medical
director; L. K. Crippen, Howard w.
Kacy, counsel; o. Hammerlund, 4. M.
ROOiun and T.. L.. klrcEner.
Those from the District OF Columbia
branch honored were Ben A. Harlan,
executive secretary; ]. B. Allison, R. NJ
Alexander, C. w. Botsch, j. E. Burbank,
W. B. Crossan, w. c. Daniel, J. I. Ford,
W. c. Giesey, H. R. Hardisty, w. C..
James, M. J. Kibler. G F. King, w. j.
McCausland. J. G. Priest, F. B. Rogers,
p L. Rogers, G. S. Schroeder, H. A.
Smith. J. H. Sponsler, H. w. Stevens
and j. r. woodward.
Guests from the Baltimore branch
included Roland c. Suter, manager;
r. A. Armiger, R. L. Burlington, j. o.
Collihower, A. dAndrea, c. E. Gray,
c. Heinze. M Heller, E. L. Hid, L. M.
Luttrell, H. C. Moss, E. C. Newman,
E. A. Peterson. E. H. Pickering. w. H.
Purdy w. E. Ratcliffe. j. w. Rhodes,
R. C. Whitney, c. j. Wlllet and M. H.
Woodward
Total insurance in force at the end
of 1882 by the Washington branch was
$4,000 COO, and Baltimore. 15,205,000.
Bonds Lead Local Market.
On the Washington Stock Exchange
today bonds were in the best demand.
The weeks market opened with four
$1,000 sales and one $500 transfer in
Washington Gas Light IS, series A, all
recorded at par.
Washington Railway & Electric 4s
came out on the board in $1,000 and
$500 denominations at 88, while 81 1000
Washington Gas Light IS, $780, sold at
the strong price of 104.
Two stocks also figured in the days
sales. Capital Traction opened with
10 shares selling at 9. Ten more sold
at 812 and "a more at s, a new low
on the present move.
Norfolk g. Washington Steamboat
stock appeared on the board, small
lot changing hands at IS.
Peoples Drug Dividends Voted.
Directors of Peoples Drug Stores, Inc
have declared the regular quarterly
dividend of 25 cents share on the
common stock payable April l to stock
of record March 8, and $1.621a on the
preferred stock, payable March Is to
shareholders of record March l.
American Ice Co. has notified the
New York Stock Exchange of proposed
decrease in authorized preferred stock
to 100000 from 100000 shares, and
common to $4,000 from 1000 shares;
also reduction in capital represented by
outstanding common to S. share
from $25.
Gold Dust Corporation has declared
the regular quarterly dividend of 81 so
on the Sc preferred stock, payable
March 81 to stock of record March IT,
Joins Protective Committee.
Grayson Mp. Murphy. chairman of
the Kreuger g. Toll Secured Debenture-
holders Protective Committee, an
nounced today he was in receipt of
cable advice that Eugene Regard of
Paris had accepted membership on this
committee. Mr.. Regard is member
of the French National Bondholders
Pr0tentiNa Association q Snr,ni -nfficial