Evening star., 1936-12-19
STORE TURNOVERS
RAPID IN CAPITAL
Stocks Moved 4.124 Times
in II Months-Average
Tops District.
BY EDWARD C. STONE.


OF goods in Washington department
stores were kept in constant whirl,
the turnover being more rapid than
in any other city in the fifth Fed
eral Reserve district, the Reserve
Bank of Richmond announced today.
Stocks were turned 4.l24 times in the
store here, compared with BIAS times
as the fifth district average, 35l3
times in Baltimore and 1888 in a
group of other cities.
The Capital stores also topped the
turnover list in November alone, 1867
times, against .349 times in Baltimore
and BAT in the whole fifth district
The report adds that stocks on hand
at the end of November in the stores
here were IL per cent higher than
at the end of October and 1T per cent
higher than on November 80, 1885.
Final figures from Richmond on
retail trade in the Capital in Novem-
ber reveal a gain of % per cent over
November, 1885. AS already stated,
department store business in Wash
ington in the first IL months of the
present year exceeded the like period
in 1885 by 98 per cent against an
advance for the whole fifth district
of 93 per cent
WaShingtonians are tagging a bit
behind the rest of the trade area in
paving their bills. OF receivableS due
at the beginning of November resi-
dents of this city paid 26.6 per cent,
Baltimore people paid 30.5 per cent,
while average payments in the whole
fifth district stood at 28.8 per cent,
todays report discloseS.
Trust Committee Announced.
President Blaine B. Coles Of the
trust division American Bankers AS
sociation, has appointed Frank K.
Houston, president Chemical Bank &
Trust Co., New York, chairman of the
committe for the banquet which will
conclude the divisions annual mid
Winter conference, to be held in
Gotham in February. The banquet
will be held on February II and al
ways draws several Washington bank
ers engaged in the trust field. The
committee includes almost every bank
president or board chairman III New
York, including:
]. Stewart Baker. chairman Of board
Bank of Manhattan Co; Leroy w.
Baldwin, president Empire Trust Co.;
S. Sloan Colt, president Bankers Trust
Co: w. Palen Conway, president
Guaranty Trust Co.: Artemus L. Gates,
president New York Trust Co; Har-
vey D. Gibson, president Manufac-
turers Trust Co; William S. Gray, jr.,
president Central Hanover Bank &
Trust Co.: James H. Perkins, chair
man National City Bank; Lewis E.
Pierson, chairman Irving Trust Co,
and J. c. Traphagen. president Bank
of New York & Trust Co.
Everybody Bullish on 1887"
Everybody is bullish on 1887" one
of Washington's leading brokers re-
marked this week. He and many
other brokers consider the stock mar
ket outlook especially bright. In look
Ing at 1887 investments. sound invest
ment maxims offered by Louis Guen-
ther. publisher of the Financial World,
sre both interesting and timely. He
says:
"First-Knowledge is power in in
vesting, which is practical business,
as it is in every other field Of endeavor.
"Second-Patience is virtue.
Wealth is not thing OF mushroom
growth. It results from careful hus-
bandry.
"Third-Study the countrys posi-
tion in the business cycle, whether in
a depression or recovery. This is a
basic necessity.
There is more truth than wit in
the quip ascribed to several unidenti-
fed sources. but which can become an
accepted financial adage: A bull
makes money more often than bear,
but hog makes money none of the
time"
Puerto Rico Trade Mounts.
On its trade showings for the first
30 months of the year, Puerto Rico
our Caribbean island possession with
its 100000 population, continues to
be a large and expanding market for
industrial products shipped from the !
United States.
According TO the figures of the |
Puerto Rican Trade Council, in the |
Shoreham Building, purchases Of the |
island for this period amounted to
about $4,000, 900, an increase of about !
25 per cent over the figures for the
first 10 months of last year.
Rejecting improved conditions in
sugar production, the islands leading |
industrial activity, fertilizer shipments
to the planters amounted to about 81
100000, a so per cent increase, with
lumber ranking a good second.
Heard in Financial District.
Washington banks will be open as
usual on Saturday, January 2, the day
after the New Year holiday. Many
inquiries have been made, probably be-
cause the day after Christmas is to
be holiday, the date being Saturday.
December 26. At the beginning of
month, holiday from Thursday night
to Monday morning is considered too
long suspension of business.
Regular dividends, extra dividends
and bonuses have come thick and fast
in Washington during the past few
days. The banks report very steady
Improvement in 1896 in their earnings
and are looking forward with con-
fidence to 1887. The improvement
in the real estate situation has been
an important factor in the earnings
OF some institutions during the past
year.
Reilly Discusses Bank Credit.
John A. Reilly. president of the Sec
ond National Bank, addressed the
Graphic Arts Association on "Collec-
ton Methods in Modern Credit Sys-
tenn" last night at the Raleigh Hotel.
Business and financial executives
must educate their debtors to have a
better understanding of the sanctity
OF the credit contract if they are to
enjoy the high types of business they
are seeking he said