Evening star., 1935-12-22
D. c. STORES SHOW
1S PER CENT GAIN
IN SALES VOLUMES
Christmas Trade Estimates
a. Per Cent Ahead of
Same 1894 Period.
MERCHANTS EXPECTING
MANY LATE SHOPPERS
Bank Clearings and Building Per-
mits Continue Steady Upward
Trend-visitors Decrease.
BY EDWARD C. STONE.

-. Interest IN the Capital, department
store sales continuing their recent
gains with an 18 per cent increase over
the previous week and per cent above
the same week in 1884, the Depart
lnent of Commerce reported.
5 The margin of increase slowed down
a bit. The second week in December
revealed a gain of "a per cent over
the first week, while the first week
was over 20 per cent above the final
week in November. Merchants say
that the drop from "a per cent gain
to an Is per cent advance was due
TO earlier shopping this year and to a
slight lull in business momentum.
Merchants expect, however, that the
number of last-minute shoppers will
be larger than last year. The total
percentage gains are sure to be we'll
above the 1884 figure; also above the
trade rush reports from most of the
other leading cities in the country.
Bank CIearings Gain.
Bank clearings back up the upturn
in trade, being somewhat larger than
the previous week and 1913 per cent
better than in the corresponding week
a year ago. The value of building
permits continued its substantial up
ward trend, the Commerce Department
said, with a Jump of 1876 per cent over
the previous week and an upward
bound of 268 per cent above the same
week last year. AS is always the case
as Christmas approaches, there was a
drop in the number of visitors in the
city compared with the previous week.
In the whole Fifth Reserve District
trade continued to maintain a sub
stantial lead over the 1884 volume.
Business was up to expectations with
bank clearings rejecting considerably
more money in circulation than during
the same period year ago. Clearings
were up 10 per cent for the whole area.
Richmond debts rose, l6 per cent,
Norfolk enjoyed a further boost in
trade and Baltimore reported better
trade, with favorable employment and
pay roll conditions Activity in whole
sale circles reflected confidence, the
report concluded.
dOAt0H DedtH SHOtkS bdHhCESs
Washington bankers we're greatly
shocked yesterday to learn of the
death of William W. Hoxton, for many
years chairman of the board and agent
Of the Federal Reserve Bank of Rich
mond, due to heart trouble, at the age
of 81 years. He was personal friend
of many Washington financiers and
lived here for years while an Official of
the Federal Reserve Board. He was
sent to the Richmond bank when the
II Reserve banks were getting estab-
lished
Robert v. Fleming and other bank
erS paid high tribute to Mr.. Hoxton
when notified of his death. He was
regarded as one of the ablest men
connected with any Reserve bank.
His monthly reports on economic, agri-
cultural and credit conditions in the
Fifth Reserve district were most COM
plete and informative and were studied
very closely by financiers in Washing
ton and the rest of this trade area.
AS an official of the Richmond Re-
serve Bank he was always invited to
the annual conventions of the District
Bankers Association, and will be
greatly missed at these gatherings.
More Dividends Declared.
Directors of the Firemen's Insurance
Co. Of Washington have declared a
4 per cent semi-annual dividend, pay
able January 2 to stockholders of rec
ord December "a, it was announced in
the financial district yesterday.
Another dividend announced yes
terday was declared by directors of
the Security Storage Co., quarterly
disbursement of $125 a share being
payable on January 10 to shareholders
Of record January 6.
These announcements followed
closely similar action by the Column
bia National Bank, Liberty National
and the American Security & Trust
Co., which added an extra of SO a
share.
The trustees of Massachusetts, In
vestors' Trust have declared quar-
terly distribution of 81 cents a share,
payable January 20, an increase of
IS per cent over the distribution of
20 cents for the previous quarter.
Exchange Trading Active.
Trading on the Washington Stock
Exchange yesterday was unusually
active for a Saturday session. with
prices practically unchanged. Mer-
genthaler Linotype was the most pop
ular stock and Capital Traction IS
were in the best demand in the bond
list. The sales:
Capital Transit Coo at is, IL
ct Is.
Potomac Electric per cent pre-
ferred-5 at 1105s.
woodward & Lothrop preferred-7
ct 1l515.
Mergenthaler Linotype-10 at 81,
10 at 81, 10 at 81, at 81.
$1,000 at 93, $1,000 at SO, $4,000 at SO.
$1,000 at 90. $1,000 at SO, $4,000 at SO.
Anacostia e. Potomac Railroad IS
~-s1,00 at IS.
50