Evening star., 1935-12-08
RETAIL TRADE Up
20 PER CENT HERE
IN YULET|DE RUSH
Brisk D. C. Shopping
Weather and Release of
Savings Funds Factors.
FLEMING CALLS PARLEY
OF EASTERN BANKERS
A. B. A. President Announces Ses-
sion in Philadelphia as Part
of Nationwide Program.
BY EDWARD C. STONE

washington's Yuletide trade boom
gained in speed and volume during
the last week, brisk shopping weather
and the distribution of some S., $50 00C
Christmas Savings Club funds being
vital factors in the sharp upturn. De.
partment store sales increased TO-
per cent over the previous week anc
we're 20.8 per cent higher than.i the
corresponding week in 1884, the Com
merce Department reported yesterday
A week ago a gain of "a per cent
was reported over the comparable
1884 week and previous to that time
steady advances had been noted, which
means that the whole holiday season
will reveal a splendid increase IN re-
tail business. The stores are jammec
to the doors with eager shoppers, who
are not spending their time looking at
goods, but are buying them at a pace
which proves that the depression in
the Capital long ago burst like soap
bubble.
Bank clearings in Washington in
creased during the past week by more
than IA per cent over the previous
week and were 217 per cent higher
than the same week last year The
value of building permits dropped
much lower than a week ago, when
an S800,00 sanitarium was included
in the figures, but were Al per cent
higher than year ago. Registrations
at the Smithsonian Institution showed
26,402 visitors against 26,722 In the
same week last year.
Other places in the Fifth Reserve
district reported substantial gains in
retail trade. In Norfolk department
store sales were up 25 per cent, Balit-
more reported expansion in prac-
tically all lines. The report stressed
special gains in bank clearings and
in electric power distribution. The
Commerce Department now predicts
an increase of $50O,000,000 in De-
cember trade for the whole country.
This territory is certainly getting its
full share of the pickup.
Fleming Calls Bank Farley.
Robert v. Fleming, president Of the
A. 3. A., yesterday announced an
Eastern States banking conference to
be held in Philadelphia January %
and "a, as q part of the associations
national program on banking develop
ment.
The program calls for general ses-
sions, six departmental forums on spe-
cialized banking subjects, and sub
scription dinner meeting Friday eve
ming. The general topic of the con-
ference will embrace managerial, leglS-
lative and operative problems con-
fronted by all classes of banks and
will be held in addition to the estab-
lished trust and savings conferences
regularly conducted under the auspices
Of the association.
Mr.. Fleming will preside and Harry
J. Haas, vice president of the First
National Bank, Philadelphia, will
serve as general chairman of arrange
ments and o. Howard Wolfe, cashier
Philadelphia National Bank, as vice
chairman. Both these bankers are
widely known among Washington
financiers. No doubt this city will
send a large delegation to the Quaker
City.
Sinker Is Auditors Speaker.
Julius Sinker, member of the Dis
trict of Columbia Institute of Certified
Public Accountants and the American
Society, will be the principal speaker
at the December meeting of the audi
tors section of the District Bankers
Association, next Thursday at the
Hamilton Hotel.
The session will start with a dinner.
James D. Barrett, American Security
g. Trust Co., section chairman, will
preside. He announced yesterday that
the program will be open to the public
and non-members are urged to attend.
Harry L. Downey, at the Washington
Loan & Trust Co., will take reserva-
tions.
Mr.. Sinker will talk on 1.-THE Effect
Of the Banking Act of 1885 on Bank
Auditing" He is an authority on the
subject. Many new auditing problems
have recently arisen of great impor-
tance to banks. Members of the Sec
ton expect the largest meeting of the
year.
Busy Week on Exchange Here.
Business was very good on the
Washington Stock Exchange during
the past week. Saturday trading was
confined to Mergenthaler Linotype, the
stock opening at 81 and closing at 371a.
The week ended with 81 bid, 3S asked.
On Thursday it got up to 80 and in
Boston crossed 40. It was the best
week in Mercy" in many months.
Peoples Drug Stores preferred stock
Is now being quoted ex-dividend on the
board. The usual quarterly payment
Of $1.62h is due in a few days. Lam
ston Monotype made a new high for
1885 during the week when it got UP
10 81. Yesterdays final bid was &c.
The week closed with $500 a share
bid for Washington Railway & Elec-
tric common stock, but none offered at
any price. Quotations have been quiet
since the North American Co. an
nounced withdrawal of the plan to put
out participating shares, 25 for /.
Peoples Drug Stores, Inc, reports
an advance in November sales Of IA
per cent and gain Of 14.5 per cent in
sales in the first IL months Of 1885,
compared with the like 1884 months.
Bond Issues Increase.
New State and municipal bond is
sues reported approved by the voters
of 437 communities located in SO
States during November total $118,-
Sog.719, as compared with $43, ,767, ,739
in October, according to the Daily
Bond Buyer. The total for November,
1884, was $l6S,325,950.
November totals for previous years
were $168, 8,325, $50 in 1884; 1924, $780,
o32 in 1888 and sss, $4,000 in 1882.