Evening star., 1935-10-06
Capital CIearings Increase
$14,928,475 Over 1884
in September.
TRACTION BONDS MOVE
HIGHER AT WEEKS END
Closing Sale of 96i4 Represents
Gain of Half Point Over
Fridays Level.
BY EDWARD c. STONE.

AS result OF goOQ shopping
weather and promotions, department
store sales in Washington registered
unusual gains during the past week
over the previous week, while the
average increase over the correspond
ing week last year was 1873 per cent,
according to the Commerce Depart
ment's weekly business survey cover
ing 33 important cities.
Bank clearings increased 14.6 per
cent over the previous week and 81
per cent over the corresponding week
in 1884, the report adds. The value
of building permits declined 21.5 per
cent from the previous week, but the
total was four times greater than the
corresponding week of last year.
The influx of visitors to the Capital
as reflected by those going up the
Washington Monument during the
week was 14,l2i, compared with l5.-
GOT for the previous week and 1863
for the same week last year. the re-
port says.
There is reported to be a surge of
Fall buying all over the fifth district,
which includes Washington. This is
due to better conditions in the leading
cities and an increase in farm income.
The Commerce Department review for
the whole country was one of the most
encouraging in weeks.
During the week, September bank
clearings were reported by the Wash
ington Clearing House. The report
showed a gain of s14,928475 over
September, 1884, while clearings in
the Capital in the first nine months
OF this year revealed an advance of
$l50,228226.55 over the like period
year ago.
Capital Traction Bonds Up.
Trading on the Washington Stock
Exchange yesterday opened with 10
shares Of Mergenthaler Linotype
changing ownership at 27A, of
point from the last previous sale.
Sales in this issue have been very
light recently, shareholders evidently
awaiting the coming annual meeting
when the years financial results will
be announced.
Washington Gas Light stock was
out again yesterday, two sales. taking
place at So, same as the price on two
sales Friday. The remaining trading
In stocks was in Real Estate Mortgage
& Guaranty preferred, two 100-share
blocks and one 90-share lot moving at
4, of an eighth from Fridays close.
Bond trading was confined to Capt.
tai Traction IS. The bonds opened
with a $1,000 sale at 96, followed by
$500 sale at 964. Just as the
market closed $1,000 more changed
hands at 9614, gain of half point
over the closing sale Friday. Both
quotations and volume of trading held
up we'll during the week.
Broker Cites Business Gains.
The Washington Office of Fenner
e. Beane yesterday sent out the re-
suits of an exhaustive survey of busi-
ness, industrial and agricultural con-
ditions all over the United States.
which says in conclusion that the
country is much better off than a
year ago"
Tabulation of reports returned
shows that America is obviously in
the process of steady recovery. Manu-
featuring, the survey indicates, has
shown distinct improvement which
varies from per cent to 81 per cent
in different sections of the country.
Heavy industry has shown a some
what larger recovery, now standing
at levels ranging from per cent to
30 per cent above last year.
Bankers, the survey shows, are will
ing to loan money to responsible bor-
rowers and credit is ready to flow
into commerce and industry when
needed. Employment in the sections
reviewed has been stepped up any
where from 10 per cent to Is per
cent, while retail trade has been
showing gratifying improvement, now
ranging from 13 per cent to 81 per
cent above last year.
Installment sales, particularly, have
been highly active on the upside,
moving ahead anywhere from IL per
cent to Is per cent above a year ago,
according to the Fenner & Beane
survey.
Financial district Notes.
Reorganization of the National
Press Corp. is said to be the first
time in the District that such action
has been permitted under clause 77B
OF the new bankruptcy law. Bond
holders are pleased that the long dis
pute between protective committees
has been adjusted.
Several Washington underwriters
are planning to attend the first an
nual sales congress of the Virginia As
sociation of Life Underwriters at Rich
mond, October Is, when several ma
tional known insurance men will
speak.
The Interstate Commerce Commis-
sion has granted authority to the
Norfolk Southern Railroad to issue
$3.50, 900 equipment trust certificates
to be sold at par.
State and municipal financing for
the month of September totaled
$1os, ,256,7o3, as compared with the
revised total of $53.13o.044 for Au-
gust of this year and $39,667,l62 in
Eaptan,Ier 1924