Evening star., 1936-11-29
D. c. STORE SALES
Up 1879 PER CENT
FROM 1935LEVELS
Gain of 3 Per Cent Over
Week Ago Is Reported by
Commerce Department.
BANK CLEARINGS REMAIN
WELL ABOVE YEAR AGO
!. B. A. Members to Leave Capital
Tuesday Night for Annual
Session in Augusta, Ga.
BY EDWARD C. STONE.


An advance of 1879 per cent in
retail trade in Washington department
stores during the past week was re-
ported yesterday by the Department
Of Commerce, in comparison with the
corresponding week year ago and
gain of per cent over the previous
week this year.
At the same time bank clearings
in the Capital were 6.2 per cent above
the same period last year, but of II
per cent from the preceding week.
The value of building permits revealed
a 60.2 per cent increase over the pre-
vious week, but decrease of Al per
cent from the record of the like week
q year ago. the review stated.
Preparations for Thanksgiving and
the continuation of colder weather
served as stimili to retail trade in the
rest of the fifth reserve district dur
ing the week. Wholesale markets bene-
fitted from the substantial advances
made in retail trade, with many re-
orders for seasonal and holiday mer-
chandise in evidence, together with
some advance buying of more staple
lines.
Announcement of wage increases
by numerous concerns and the grow
ing volume of dividend and bonus
payments proved extra helpful to busi-
ness in Baltimore in the purchase OF
increased consumer merchandise. Cur
rent promotional sales have brought
a lively demand for Christmas goods
all over the district. eRtail trade
in Norfolk was Is per cent ahead
of the previous week and Charleston,
S, c., reported 25 per cent jump over
the same period a year ago. adding
that the city banks would pay out
S50,000 more in Christmas savings
this year than last.
Bankers to Attend Convention.
Many investment bankers will leave
Washington Tuesday night for the
twenty-f1fth annual convention of the
Investment Bankers Association, to be
held at Augusta, Ga, December 2 to 6.
Among those attending from the Cap
1tal will be:
Y. e. Booker of Y. E. Booker & Co.;
William Miller, Brown, Hartman &
Co.; George M. Ferris Of the invest
lnent firm by that name; James p.
Nolan. Folger. Nolan & Co.; James H.
Lemon, James M. Johnston & Co.;
William w. Mackall, jr., w. w. Mack
all & Co.. and Kenneth S. Wales of
Kenneth S. Wales & Co. Waggaman,
Brawner & Co. will send representa-
tive and other firms may also decide
to ne represented.
The program, as already announced,
includes many able speakers on sub
jects of vital Importance to invest
ment dealers and investors. James M.
Lands, chairman of the Securities and
Exchange Commission, will appear on
the program, as will Commissioner
Ross President Orrin G. Wood of
Boston will preside at the general ses-
sions The tremendous increase in the
demand for senior securities during
the year, the growing number of new
and refunding issues, and strength in
prices, together with the 1887 outlook,
are expected to draw a record attend
ance to the convention and result in
an optimism not in evidence at these
gatherings since before the 1929 set
bacl:.
Geographic Printers Visited.
Members of Washington Chapter,
National Association of Cost Account
ants, visited the plant of Judd & De-
weller Inc, printers of the National
Geographic Magazine, last Tuesday
This was the second of series of plant
visitations on the program of the ac-
countants for this Winter. designed to
give members of the chapter some ac-
quaintance with manufacturing opera
tions in various types of industry.
During the tour the various opera
tions in the production Of the maga-
zine were explained by members of the
company's staff and at the conclusion
Of the tour Oscar D. Crockett. COM
pany accountant and director Of
Washington Chapter of the N. A. G.
A., explained in detail the accounting
procedure by which production is con-
trolled and costs are determined.
Trading on d. c. Exchange.
Business on the Washington Stock
Exchange yesterday was rather slow,
partly because the Army Navy game
drew some of the members. Washing
ton Gas stock sold at 801a and WASH
ington Gas SIS, 1858, appeared on the
board in q $1,000 transfer ut 108.
Other bid and asked prices closed the
week firm.
Trading on the Washington Ex-
change in October was much better
than in September. The dollar value
Of sales on all registered exchanges
during October was $2,570, ,962, ,S72, an
increase Of 36.6 per cent over sales in
September and gain Of 16.1 per cent
over October, 1885, according to the
monthly report Of the Securities and
Exchange Commission.
Depositors in the District National
Bank and the Northeast Savings
Bank, now in liquidation. were de-
lighted yesterday with the news in
The Star that the two banks are to
pay an aggregate Of 81 500, 900 in divi-
dents before Christmas. The District
National will pay IS per cent Of the
original deposits and the Northeast
Savings, 10 per cent. The payments
will benefit about 1900 depositors in
the two institutions.
Christmas Clubs to Open.
It was reported in the financial dis
trict yesterday that many Of the 1887
Christmas savings clubs will be opened
tomorrow, when most Of the banks
will be open until $50, as usual on the
last day of the month. Tuesday Is the
"oficial" opening date.