Evening star., 1936-10-24

Es> ~ hardware, 10.2
,r N.y. per cent.
W. o. AA"' Business in all
five lines in September. except shoes,
was much better than in August.
Dry goods gained 1877 per cent, hard
ware and drugs we'll over II per cent
and groceries about 8 per cent.
Wholesale shoe sales were 1.6 per
cent lower than in August.
In the first nine months of this
year, the report adds. dry goods top
ped the list, with III per cent ad-
vance. Shoes came next, up SO per
cent, with hardware following closely,
with a 81 per cent pickup. Gro
ceries gained SO per cent over last
year and drugs climbed 7.8 per cent.
Stocks of goods were all lower at
the end of September than at the
close of August and collection records
were satisfactory. During September
lis per cent of receivabies on gro
ceries were paid, II per cent of bills
due for drugs were met, So per cent
of outstanding shoe bills, As per cent
on hardware and 81 per cent OF the
money due on dry goods, the Rich
mond bank states.
Mcnamara Reports Ice Gains.
w. j. Mcnamara, manager OF the
Washington office Of the American Ice
Co. who is attending the annual con-
yention of the National Association OF
Ice Industries. in New York, told the
manufacturers that the ice business
in the Capital had just completed one
of its most prosperous years. He said
tce consumption had increased over
previous years and that wide local in
terest had been manifested in ice re-
frigeration.
Other speakers stressed the success
of the years cooperative advertising
campaign in behalf of ice and ice re-
frigeration. Plans were also made for
carving on an increased advertising
campaign during the coming year and
for reinforcing the national drive
with more aggressive local advertising.
About 1000 delegates attended the
convention. Reports stated that the
merchandising of ice has become
service profession rather than the
mere selling of product. New 1887
refrigerators were an display.
Farm Buying Power Holds Up.
If the annual farm income in 1886
amounts to S7,S50,oo0, 900, as recently
forecast by the Department of Agri-
culture, it will be 10.7 per cent larger
than in 1885 and 6l.4 per cent larger
than in 1882 when farm income was
at the low for the depression. AS
compared with the pre-depression year
1929. however, farm income In 1885
will be 25.1 per cent smaller.
On the assumption that prices paid
by farmers for goods bought during
the last quarter of 1896 will remain
at the September level, the Govern
ment's estimate of farm income in
dicates that the farmers purchasing
power for the full year 1886 will be
116 per cent higher than in 1885
and $50 per cent higher than at The
low for the depression III 1882, ac-
cording to the Alexander Hamilton
Institute. At the same time it Will
be 73 per cent lower than in 1929.
Trusts Assets Show Gains.
The Washington Office CT Mackubin,
Legg & Co. reports that the Funda-
mental Investors, Inc, trust assets
increased during the first nine months
of this year to S2430 q share on
September l from S22.85 on June 80
and $20.91 share at the close of
1895. The company paid a 61-cent
cash dividend on october /, making
total dividends 81 05 share so far
this year, the report adding that the
directors expect to pay cne more divi-
dend before the end OF 1896. out of
profits realized from the sale Of in
veStmentS.
United Business Service, Boston.
says this week that semi-luxCry goods,
including automobiles, apparel, fur
niture and other household equipment,
are expected to show the great gains
in sales over the coming months.
Prices will be generally steady. There
will be a greater demand for me-
dium and high-priced items and larger
inventories will be carried by most
dealers. Retailers are now placing
stable orders in anticipation of the
largest Christmas volumes since 1929,
the service adds.
Heard in Financial District.
Bond dealers here say the Central
Maine Power S14,000,000 312 per cent
issue due next Monday will be alb
sorbed almost instantly. Other SIM
liar bond issues brought out recently
have paid only 314 per cent.
The Federal Reserve Board has ruled
that, under regulation F, section II,
subsection (a), investment OF trust
funds by national bank in obliga-
tions executed by an officer of the bank
as a receiver appointed by a Federal
court is prohibited. The board feels
that the interest of the bank official
Is of such a character as might affect
his judgment in the investment OF
trust funds
About rs women in Washington
banks will be in line for the Jean Arnot
Reid award offered by the National
Association of Bank Women to
woman graduate of the American In
stitute of Banking selected as best
fitted through integrity OF character
and efficiency of work to represent
women in banking" The award Will
be made later.