Evening star., 1936-03-22
a Per Cent Lag Compares
With Decline of ID Per >
Cent for Nation.
RETAIL SALES MOUNT
OVER FIFTH DISTRICT
Wholesale Trade Particularly
Brisk Until Destructive Floods
Bring Temporary Setback.
BY EDWARD C. STONE.

District of Columbia in February took
a slight drop of per cent in COM
parison with business II February,
1885. Total volume, however, was
ahead of the national average which
took IA per cent tumble. Maryland
which was off 10 per cent, West Vir-
ginia's drop of Is per cent and Vr-
ginia. which reported a downturn OF
19 per cent.
The decrease in business here and
elsewhere is due to the fact that an
unusually large amount of insurance
was placed in February year ago in
anticipation of general increases in
premium rates, according to the In
surauce Sales Research Bureau OF
Hartford. Life insurance policies
placed in Washington in the first two
months of 1886 are per cent under
the record in the like period last year
For the past IL months business is 81
per cent better than in the previous
IL months.
Ageuts in the Capital wrote S4,-
496,000 in new business in February
new business in Maryland totaled S6,-
ISL 900. In Virginia, S4,780,000. and
in West Virginia. S5,688,000. North
Carolina placed $3.50 900 and South
Carolina added s2,35O,0oO to Insurance
already in force. In only nine States
was business better than last year
Idaho topping the list with 40 per
cent jump. In Washington A pei
cent of the companies doing business
here reported better sales than in
February year ago.
Retail Sales Mount Here.
Business in Washington end the
rest of the fifth Federal Reserve dis
trict showed symptoms of healthy
momentum during the last week. De-
partment store sales reflected the up
ward trend with an Increase of 1875
per cent over the previous week and
as per cent over the same 1885 week
the Department of Commerce reported
yesterday. Bank clearings gained 8.S
per cent over the previous week and
we're 22.4 per cent above the cor
responding week year ago.
The value Of building permits re-
ceded lis per cent from a week ago
but increased 81 per cent over the
same 1885 week. In Richmond bank
debts were the highest in several
weeks and trade showed a good ad-
vance in Easter buying. Norfolk re-
ported better business than in the
previous week or year ago. The
outlook for the coming season at Vir-
ginia Beach is considered highly en-
couraging with much building activity
already under way.
Baltimore trade and bank clearings
were up. Wholesale trade was par
ticularly active until the Obstructive
floods brought considerable reduction
in volume. This condition is con-
sidered only temporary. Reports from
Charleston, S. c., were extra good.
Compared with last year, radio sales
gained As per cent, electrical ap-
pliances 80 per cent, automobiles 80
per cent and wholesale trade volume
II per cent. Tourist travel boosted
hotel reservations 20 per cent and
work was started on q $500, 900
Federal housing project.
Nine directors of the Acacia Mu-
tual Life Insurance Co., whose terms
expired this month have just been re-
elected at the annual meeting OF
pohcyholders. They are w. L. An
drews, Paul B. Cromelin, L. Whiting
Estes, Robert v. Fleming, James G.
Hoyle, j. Claude KEEPER, Arthur D.
Marks, Frank j. Stryker and Lloyd B.
Wilson.
Other members of the board in
clude Charles E. Baldwin, Harry
Blake, C.. C. Coombs, William K.
Cowden, j. Harry Cunningham, E. G..
Graham, Joseph H. Hines, Thomas E.
farrell, Howard w. Kacy, John T.
Meany, Joseph H. Milans, William
Montgomery. Edward j. Murphy, DR..
]. B. Nichols, Harry L. Rust, jr.; l..
p. Steuart, Eugene E. Thompson and
e. Lee Trinkle.
President William Montgomery re-
ported the business of the company
had registered a substantial increase
during the first two months of the
current year, and was running well
ahead of last year.
Trading on ID. C. Exchange.
Saturday trading on the washington
Stock Exchange included sale OF llO
shares of Real Estate Mortgage q
Guaranty preferred stock at Az, up "a
and new high for the year. Five shares
of Riggs National Bank common came
out at the new high mark Of 276.
In the bond division, 81 900 and $500
sales in Capital Traction SIS we're re-
corded at 901s, unchanged. Washing
ton Gas IS, 1860, which were very
strong during the week, figured in a
$500 transfer at 117A. These bonds
sold at 118 during the week, the best
price In 1886.
The week ended with bid and asked
prices on other issues practically un-
changed. The action of Mergenthaler
Linotype pleased stockholders. The
price got up to 43 following low mark
for the year of 391z. During the week
dividends we're declared on American
Security & Trust Co. stock and Wood
ward & Lothrop common and pre-
ferred, including an extra on the
common.
The Securities and Exchange Com
mission has extended to May Is the
deadline for the permanent regis
tration of securities of foreign issuers.
President Roosevelt has signed the
bill which provides for exemption from
State and local taxation of payments
to the Reconstruction Finance Corp.
on bank stock held by 1t.
An amendment filed with the Sc
curities Exchange Commission by the
Eastern Gas g. Fuel Associates shows
that IS underwriters will participate
In the offering of $75,o0o,o00 of 4 per
cent bonds.