Evening star., 1933-04-05
RETAIL SALES GAIN
ON EASTER TRADE
Various Sections of Nation
+. Report Recent Increase
in Business.
BY EDWARD C. STONE,

reports state. Philadelphia stores have
been crowded with shoppers during the
past few days.
Chicago had the best retail trade in
months last week. The rush was due
to an effort to buy goods before the
Der cent tax on retail sales went into
effect. st. Louis reports improvement
In trade and industry; Kansas City re-
ports sales as better than before the
. bank holiday.
Better automobile business Is helping
the Cleveland area. Out in Minneapolis
-four shipments are much better than
in the recent past. The Texas and
California reserve areas are awaiting
upturns, recent reports indicate.
In the local fifth district, the Rich
mond Bank reports more active move
ment of Spring goods. In Virginia a
good many men working on the nlgn-
ways have been dropped as KeconsIruc. @
tion Finance Corporation funds nave
been used up.
Mergenthaler Comes to Life.
9 Recent revived interest in Mergen-
thaler Linotype has caused considerable
comment on the washington Stock Ex-
change. Years ago this stock, as well
as Lanston Monotype, the other type
stock. was among the leaders on the
local board. In the run Of year the
total turnover in these issues was ABOUT
as large as in any other securities on
the exchange. In those DAYS potn
stocks sold around 100, or higher.
Since the exchange reopened aIter
type has been in considerably better
demand than for many months. 1t Is
now selling around 20 share and pay
ing at the dividend rate Of So year:
The stock has always been widely held
in Washington.
The stock appears to have been
picked I'D lately because OF its future
prospects. The linotype machine busi:
ness is expected to improve as general
business improves. The Brooklyn plant
is always kept in splendid condition and
contains plenty of room for the manu-
facture of other than printing supplies
To use some OF this extra space,
Mergenthaler is now putting out new
fire extinguisher which has already re-
ceived a standard rating in some States.
Other products are also being made
which will add to revenues when times
get better.
: Foreign Trade Campaign Urged.
5 Reviewing the causes of the recent
banking crisis and the remedies already
put into effect, the New York Trust
Co. says, I'VE must now restore the
normal activities of business. Inese
activities grow cut of the natural ex-
change of commodities in both do
mestic and international trade.
/. cit is important to restore domestic
trade; 1t Is next of importance to re-
store international commerce. While
sound basis for domestic trade Is pri-
marily essential and the activities OF
our own Government give great conh-
dence in what may be expected In that
direction, the restoration OF mterna-
tional trade, now so frightfully dislo-
Gated, can be achieved only through
cooperation between governments.
such cooperation might grow out
Of the proposed World Economic Con-
ference. It might begin with the
prospective conversations with the
British in connection with the debt
settlement But that the steps should
be taken there can be no doubt" the
bank believes.
- New SIS Bonds are Forecast
Issuance for public subscription OF
Federal Land Bank bonds DIVIDED INTO
denominations of from $25 upward
will be pushed by the Roosevelt admin
!. lstration's farm mortgage relief pro-
: gram, according to Henry Morgenthau,
ar governor of the newly created Farm
wCredit Administration.
= It Is emphasized that these are not
: Government bonds and, while interest
on them will be federally guaranteed,
the guarantee does not extend TO the
principal There is no large direct
Federal bond issue contemplated in con-
nection with mortgage relief plans.
1t is considered entirely possible that
these bonds will be put on sale at post
offices throughout the country, Gov
ernment officials say. However, au-
thority must be obtained from Con-
gress to provide for bonds in denomi-
nations smaller than $40, the minimum
: in the present law, and to sell them at
spost offices.
= Gas Bonds Being Paid Of.
!. The Washington Gas Light Co. is
paving off the $4,000 900 issue Of Gas
Light IS, Series A, which matured on
April l. Payments are being made at
aSfle Riggs National Bank. As this issue
was very largely held by Washington
Investors, a great many local people
have been visiting the bank during the
past few days and turning their bonds
INTO cash.
rhis was q 10-year bond issue, the
security having been offered to the pub
.lic in March, 1928, at 100. The bonds
sswere listed on the Washington Stock
NExchange and proved popular from the
start. During the past year or so there
have been a good many of these senior
securities sold on the exchange by in
vestors who switched into longer term
Investments.
To furnish cash for this maturing
issue and to meet other requirements,
the Washington Gas Light Co. recently
put out an $8,500000 S per cent bond
issue to mature in 1858. The bonds
appeared on the market at 941a, but
are now far under that quotation.
Potomac Bank Pushes Plans.
Steady progress toward the reopen
ing of the Potomac Savings Bank in
Georgetown, is reported by the officials
of the bank and others who are work
ing hard with such a goal in view.
They report many new subscriptions
for the stock in connection with the
plan to raise $500,000 in new capital,
100000 of which is to be applied to
the capital structure and 100000 to
surplus. Those actively engaged in
handling the stock issue feel sure that
it will all be subscribed, they said
today.
-- As previously noted, it is the inten-
-tion Of those interested in the Potomac
~ savings Bank 10 convert the lnSti-
= tuition into a national bank when they
: have met all Treasury requirements
for reopening.
The Northeast Savings Bank Is an
{, other local institution that is working
especially hard right now in an effort
. TO get into position which will
permit reopening under Government
license.
e Stocks Higher on ID, c. EXCHANGE
= Potomac Electric Power per cent
: preferred sold at 108 today on the
9 Washington Stock Exchange, higher
: than in other recent sales. The 51a
g per cent preferred stock came out at
= a06ls and 1861.
: Ten shares of Lanston Monotype ap-
= peared on the board TODAY at a q