Evening star., 1933-10-25
BALTIMORE LEADS
=. IN RETAIL SALES
Bank Compares Trade Totals
in 81 Stores in Fifth Dis
triCt in September.
BY EDWARD C. STONE.

Comparison of sales in 81 depart
ment stores in the fifth Federal Reserve
district in September, reported by the
Reserve Bank of Richmond this noon,
shows that Baltimore made the best
record for the month. an advance of 55
per cent over September, 1882.
Richmond came next with a gain of
"A per cent over the like month
year ago while Washington reported
a small drop of 2.5 per cent in retail
sales compared with September. 1882.
A group of other cities were off IL per
cent. The average for the district re-
vealed a gain of II per cent.
For the first nine months of the
present year the retail stores in Rich
mond scored the best record Sales
from January to the end of September
were only 46 per cent under the busi
ness transacted during the same period
year ago. Baltimore sales were OF
IA per cent and Washington depart
ment store sales were down 107 per
cent during the nine months. The
average for the whole district was "a
per cent under last year.
Stocks on hand in Washington stores
were 81 per cent larger than at the
end of September, 1882 In Baltimore
stocks on shelves were up 80 per cent,
in Richmond. l4.9 per cent while tn
average gain for the whole fifth Re
serve district was 259 per cent.
Store stocks on hand at the end of
September compared with the end Of
August. were up l59 per cent in Wash
lngton, 23.7 per cent IN Richmond,
1877 per cent in Baltimore, and l79
per cent for the entire 81 department
stores making reports.
The rate of stock turnover in the
District of Columbia and the whole
district was practically the same 1t
September. For the first nine months
were turned over 25i times. in Rich
mond % times, in Baltimore 250l, and
in the whole fifth district 2489 times
During September Washington stores
collected % per cent of their receiv
ableS. This was better than the fifth
district average of q per cent. Rich
mond collected 258 per cent of out
standing bills and Baltimore 1919 per
cent. group of other cities collected
234 per cent Of reCeivableS during the
month. the Richmond bank reported.
Moving Picture Incomes Up.
The largest dollar uptUrn in box Of
fee receipts since the adoption of
sound pictures has been experienced by
motion picture theaters in recent
months. according to a chart prepared
by John H. Lewis Of Goodbody g. Co.,
Just received by the Washington office,
which is based on the reported weekly
receipts OF 10 theaters situated in five
widely scattered cities.
We have built up what we believe to
be the first public index of motion pic
tura receipts in the United States" Mr..
from 1928 to the present. Average
quarterly results in 1928 are assumed to
equal 100.
Only cities have been included which
are free from special influences affect
ng box Office receipts OF theaters used.
Tor instance New York City had to be
Eliminated for the reason that the open
ng of the large Rockefeller City the
tiers SO reduced the patronage of other
alue as an index of theater attend
nee"
Treasury Issue Oversubscribed.
Acting Secretary of the Treasury
lcheson announces that tenders for
100000 or thereabouts, of 91-day
treasury bills dated october 25. 1888,
nd maturing January "a, 1884. were
pened at the Federal Reserve banks on
tonday
Total amount applied for was Sl68,-
7g 600, of which $50 O34, ,Ooo was ac-
epted. The accepted bids ranged in
rice from 99.975, equivalent to rate
f about 010 per cent year, to 99.937,
1uivalent to a rate of about OBS per
ent year on a bank discount basis.
Only part of the amount bid for at the
utter price was accepted.
The average price Of Treasury bills
be issued is 99.957 and the average
ate is about OFT per cent year on
,ank discount basis.
Local Broker Offices Crowded.
Local broker offices were crowded
')dav even before the New York Stock
Iarket opened at 10 o'clock. Interest
aemed to center wholly in the price
hich the Government would pay in
tarting to buy gold. 1t was the first
uestion asked by customers and there
ere hundreds of telephone calls relat-
lg to the same subject. Shortly after
he market opened, the price of 3l.36
as announced.
The action of the dollar In relation
foreign exchange also aroused wide
oncern as this was what was given as
ne reason LOT lIlt SlldI u PACh-up AL
tockS in the late trading yesterday. The
ollar and its effect on commodity
srices is considered to be possibly the
lost vital problem now before the
lock market The fact that the ad-
liniStration is determined to get COM
modify prices higher is considered a
}ullish factor in all brokerage circles.
Todav's higher opening naturally
LEASED the trading fraternity and was
lot unexpected after yesterdays run-up
t the close.
Trading on Local Exchange.
One of the features of trading on
he Washington Stock Exchange today
vas a series of 10-share transactions In
Iergenthaler Linotype, all at 25l2 Ten
uch sales we're recorded.
The first sale in today's market was
$1,000 transfer in City g. Suburban
IS at 46l2 This was the only bond
ale of the session.
Washington Railway & Electric pre-
erred was active. The stock opened
With several sales totaling SO shares,
1t 96 Later 81 more shares changed
lands at the same price, bringing the
lays turnover up to 120 shares.
1t was reported in the financial dis
rict today that the Norfolk & Western
Railway has declared the regular quar-
ierly dividend of 81 a share on the
common stock, payable December II,
o holders of record November 29.
Safe Deposit Section Meets.
The next meeting of the safe deposit
section of the D. c. Bankers AsSocla-
ton will be held in the board room
If the American Security and Trust
Co tomorrow, at pm.
The meeting will be in charge of the
following Program Committee, ap-
pointed by Earle M Arnick, assistant
vice president of the Riggs National
Bank, chairman of the section: John
F.. Hillard, chairman. National Bank of
Washington; Miss Mary j. Pierce, Co
lumbia National Bank; Miss Eva
Kicker. the Riggs National Bank and
g M Ashton, Munsey Trust Co.