Evening star., 1934-01-25
RETAIL SALES Up
M CAPITAL STORES
December Figures Are a. Per
Cent Higher Than for
Year Ago.
BY EDWARD c. STONE.

Retail sales in Washington depart
ment stores in December were 4 per
cent higher than in the same month in
the previous year, the Federal Reserve
Bank of Richmond reported today in
its monthly review.
The average for the whole fifth dis
trict showed a gain Of IA per cent in
retail trade over the like period in 1882.
The summary also brought out the fact
that this city wound up the year with
loss of 7.3 per cent in trade when
compared with the previous II months.
Richmond made the best showing IN
December of any city in the fifth dis
trict, sales being up 1853 per cent. Bal
tlmore gained 6.8 per cent, while
group of other cities had is per cent
gain compared with year ago.
For the full year sales in Richmond
were up 09 per cent, Baltimore reported
loss of per cent, group of cities
we're down 19 per cent and the aver
age for the district was 4.6 per cent
behind the previous year.
The report today notes that stocks
on hand at the end of December. COM
pared with the like period in 1882, were
1874 per cent higher in Washington. 8.6
per cent in Richmond. l55 per cent in
0dIllHlOIC 1i.1 pSA NNAie ~ eAAN
whole district average. Stocks in some
cities were down per cent.
Richmond reported the most active
stock turnover during the month, with
Washington second. During the CAL
endar year stocks in Washington stores
we're turned 1851 times, in Richmond
Alb times. in Baltimore 3.577 times
and in the whole district 1906 times.
Washington made good showing on
collections the bank says. 275 per cent
of receivables due at the beginning OF
the month being collected in December.
In Richmond the percentage was %,
in Baltimore % and in the whole dis
trict 25.7.
Potomac Powers 1888 Earnings.
Earnings of the Potomac Electric
Power Co. for 1888 were reported to the
Public Utilities Commission today,
along the results of December opera
tions. Net earnings for the II months
amounted to s4,375,6 ,6l7.23, compared
with s447986l SO In 1882, a drop of
SlO424430.
Operating revenues for the u months
totaled sl0982 1896. against sl0,978,-
s7066, gain of S3,728.70. Operating
revenue deductions called for S5.82l.-
354.11. compared with $3.50 1854 43
year ago, an increase of S90.989 SO,
leaving net operating revenues of s5,-
16l.245.25 against S5.248 506.25. de-
crease of S87260 80 Miscellaneous in
come was lower. leaving gross under
the previous year by S95.32834. De-
ductions from gross required S9272l5.33
in comparison with s91829937 year
ago an increase of S0 9l596.
Potomac Powers December report
showed gain of S39l5l.7O in operat-
ing revenues but also noted an increase
of S97, ,04668 in operating expenses and
taxes. This left net operating revenues
of s435 24oO7 against S493, .05 in
December. 1882, a decrease of S57,-
694.48. Gross revenues were lower,
naturally. Deductions from gross took
s90,146.21 against S75.965.96 last year,
an increase of Sl418035, leaving a net
income for the month of S358,093.83 as
compared with 31,63764, of a de-
crease of s7354381.
w. r. g. E. Makes Annual Report.
The annual financial statement of
the Washington Railway e. Electric Co.
for 1893 was filed today with the
revenues for the II months totaled
s3.768,466 compared with S4533.-
432, a decrease Of S764 965.4l. Oper-
ating expenses revealed saving
of s660,05493, leaving an operating in
come for the y months of s299 O3093
against s39394l4l year ago, a slump
of Sl049l048
Incorporating income was sl16,-
8089l larger during the year, but de-
ductions from gross absorbed S30,-
31044 more in 1888 than in 1892, leav-
ing net income of sl,757 ,018O2 COM
pared with S1.714809 a year ago, or
an increase of S422O887
The December report also filed to-
day, showed no operating income. as
the street car merger went into effect
on December |. Gross income re-
vealed decrease of S348417 De-
ductions from gross took S2l .384l9 in
comparison with s5457O79 a year ago,
or reduction of s33,186.6O, Net in
come for the month was S34,69840
against S4995.97 a year ago, a gain
of S2e.702.43
Heavy Trading on Exchange.
The recent addition of five new men,
bers OF the Washington Stock EX-
change. of increased investment interest
caused a marked increase in business
today.
Two hundred shares of Mergenthaler
Linotype changed hands seven different
kales during the session. all made at 27
The other type stock. Lanston. was
also active, 100 shares in many separate
sales taking place at 48.
Capital Traction stock sold higher
today, 10 shares at 16ls. Other stocks
appeared on the board and a number
OF bond transactions were also reg
istered around recent levels The trad
ing sheet looked like the days before the
depression.
Loan Association Names Officers
These officers and directors were
elected at the annual meeting of the
Montgomery Building & Loan Associa-
ton, 9l3 Fifteenth street northwest:
Walter A. Johnston. president J.
Harry Cunningham, vice president;
Everard j. Carver. secretary
DR.. Roy Lyman Sexton. Joseph r. Lit
tie. Eugene Jacobsen. Harry R. Love-
less, DR.. James w. Bonbrest, William P
Anes, Albert E. Steinem, William D.
Griffith. Peter Remsen. E. K Ellis
worth, DR.. Charles j. Demas and H. E.
Allanson. directors
A dividend of per cent was de-
olared on all savings of the partici-
pating members, and a dividend of 5
per cent was declared on the savings
on the participating members,
According to the statement of Presi-
dent Walter A. Johnston, there was an
increase in assets of over IS per cent
during the past year.
Gas Light Dividend Declared.
Directors of the Washington Gas
Light Co. have declared the regular
quarterly dividend of 80 cents per
share, payable February l to stock
holders of record January &C.
The Departmental Bank yesterday
began payment of another per cent
dividend to depositors who had their
funds tied up when the bank was de-
clared insolvent last year. Forty thou
sand dollars will be distributed in this
dividend, bringing the total recovered to
depositors to $4,000. or about 10 per
cent of the deposits.
The bank will remain open until 9
O'Clock each evening this week for the
convenience of the depositors.