Evening star., 1935-09-25

washington I o
New York. Prior to that time he was
afiliated with the accounting depart
ment Of the Chesapeake & Potomac
Telephone Co.
A graduate Of Catholic University
and Columbus University School of
Law, he is member of the bar of
the District of Columbia, also of the
Southern and Eastern Intercollegiate
Foot Ball and Basket Ball Oficials'
Association.
Hardware Is Trade Leader.
Demand for hardware led wholesale
trade in the fifth Federal Reserve dis
trict in August, with gain Of 7.8
per cent over August year ago, the
Federal Reserve Bank of Richmond
reported today. Groceries sales came
next with gain of SO per cent;
wholesale drug sales were practically
the same as last year; shoe sales were
down per cent and wholesale dry
goods business in this territory tun1-
bled 20 per cent from the August,
1894, total.
August sales by 81 wholesale firms
in this district showed some startling
increases over July of this year
Wholesale shoe sales were up SO per
cent dry goods, IS per cent; hardware.
1S per cent; groceries, per cent, and
drugs, 2 per cent. For the first eight
months Of this year sales Of groceries
were 7.3 per cent better than year
ago, hardwale sales picked up ga per
cent, sales of drugs IL per cent, while
dry goods sales were off 13 per cent
and shoes 125 per cent.
Stocks on hand at the end of Au-
gust compared with August, 1884, we're
lower in dry goods, shoes and hard
ware, but slightly higher in groceries,
with no report on drugs Most stocks
were also of compared with supplies
On hand at the end of July this year.
August collections made a rare
showing In groceries SO per cent of
bills due at the beginning OF The
month were paid, dry goods, AZ oer
cent; shoes, Al per cent; hardware, SO
per cent, and drugs, 66 per cent, the
Richmond Bank says.
Morris Plan Program Ready.
1t was announced today that Gov.
Theodore F. Greene of Rhode Island
will be one of the speakers at the
national convention of the Morris
Plan Bankers Association at the Cav
afer Hotel, Virginia Beach, October
2, and 8. About 400 officers and
delegates from Morris Plan Banks
throughout the country are expecting
to attend the sessions.
The convention will be of special
interest to Virginia as the Morris plan
was founded by Arthur j. Morris at
Norfolk in 1910. The Morris Plan
now has banks operating in Rich
mond, Petersburg, Newport News and
Norfolk. Bertram Chesterman is
president of the Washington Morris
Plan Bank.
John Stuart Bryan, president of
William and Mary College, is on the
program to speak, as is p H. Whaley
OF the Whaley- Eaton News Service
and William r. Kuhns, managing
editor of Banking. Thomas H. Bou-
shall, Richmond, is convention chair
man.
Exchange Trading Improves.
On the Washington Stock Ex-
change today the market opened with
Potomac Electric Power 51s per cent
preferred stock selling at 113, up an
eighth from yesterday. Washington
Railway & Electric preferred came
out at LOG.
Mergenthaler Linotype appeared on
the board again today, opening with
13 shares selling at 28A and closing
with another small lot sale at 241a,
against a close yesterday at 275s.
In the bond division Washington
Gas SIS, 1860, were strong with two
$1,000 transfers at 116. Washing
ton Gas IS, series b, figured in a
81 1000 sale at 103A.
Capital Transit stock closed with
10 bid and 1872 asked. with no sales.
Holders are evidently waiting for the
monthly report now due. Other
pids we're unchanged.
The ]. c. Penney Building & Realty
Co., o subsidiary Of the j. c. Penney
Co., has voted to retire on Novem-
Der /, next, the outstanding $780,
600 Of 5A per cent bonds on the
building In New YORK City occupied
by the company. This action leaves
the stock of the j. c. Penney Co. its
only outstandins security.