Evening star., 1935-03-24

Trust Co.; Richard Hatton. flnancia
editor, the Washington Herald; R
Karl Won Lewinski. financial editor,
the Washington Post, and Edward c.
Stone. financial editor, the Washing
ton Star.
Plans are now being pushed rapidly
for the convention, which takes place
at Hot Springs. Va. May 80 to June 2.
The General Convention Committee
and four others have now been named,
Program, Transportation, Entertain
men and Publicity. The other COM
mittees will be announced in a few
days, Mr.. Siddons said.
Wholesale Business Uneven.
Fifty-eight wholesale firms in the
fifth Federal Reserve district reported
that hardware led the demand in
four other leading lines during Feb
ruary and showed a gain of II per
cent over February 1884. The Rich
mond Reserve Bank reported yester-
Gay that the sales of groceries were
4.3 per cent ahead of the same month
q year ago, drug sales were up %
per cent, but dry goods sales were
of 176 per cent and shoes 90 per
cent.
Comparing business with January,
however, shoe sales were 42.5 per cent
higher. At the same time groceries
we're down 10 per cent dry goods 3.8
per cent, hardware 20 per cent and
drugs II per cent In the first two
months of this year, as compared with
January and February, 1884. sales of
groceries we're Sc per cent larger, shoes
80 per cent better. hardware 81 per
cent higher. drugs 6.3 per cent higher,
but dry goods noted drop of 10 per
cent in demand.
At the end of February, this year,
stocks of groceries were 20 per cent
larger than a year ago on the same
Gate, shoe stocks were 9.9 per cent
higher. hardware 10 per cent larger.
While dry goods supplies were 1873 per
cent lower. No report was made on
drugs. Compared with January 81,
1885, stocks of groceries were 2 per
cent lower, dry goods "A per cent
higher shoes off 2 per cent and hard
ware up 40 per cent.
Collections were very satisfactory in
February, the So firms reporting 803
per cent paid on hardware, 39.5 per
cent for dry goods 48 per cent to
wholesale shoe concerns, 40 per cent
for hardware and 81 6 per cent of the
receivables due on shoes at the begin
ming of the month.
Securities End Week Strong.
Quotations on the Washington Stock
Exchange we're strong at the end OF
the week The demand for Capital
Traction IS held up, with $4,000, $4,000
and three 81 900 transfers being re-
corded at gig. the highest price for
several years.
Washington Railway & Electric
preferred moved in two small sales
at 1o31a, which is within half point
of the 1885 peak. Mergenthaler Limo
tvne. which has been one of the most
active stocks on the list during the
rast few seasons, figured in five trans
actions again yesterday, all sales be-
ing made at 30. Latest unofficial re-
ports indicate that earnings at pres
ent are satisfactory.
Capital Transit stock figured in no
sales yesterday, but closed with the
lowest bid of the present year, 20l2,
with 211a asked. The February re-
port is due in few days. 1t is ex-
pected to show further very large
earnings, with operating expenses
still at a high figure. The weeks
trading on the exchange was un-
usually heavy.
It was announced by President Sid
dons yesterday that the District Bank
ers' Association will hold a special
meeting tomorrow afternoon in the
board room of the American Secur-
ity g. Trust Co. Several unusually
timely matters are to come up for
consideration, Mr. Siddons said.
Members of the American Bankers
Associations special committee con-
sidering the proposed banking act OF
1885, including Robert v. Fleming,
received many congratulations yes
terday on the way they presented
their views to the House Banking
Committee.