Evening star., 1936-11-09
BIG GAINS NOTED
IN FIFTH DISTRICT
Commerce Survey Shows
Capital Trade Rise Is
Largest in Area.
BY EDWARD G. STONE.


In picturing the latest sharp gains
In trade In the Fifth Federal Reserve
District, including Washington, the
Commerce Departments current sur
vey says:
Cooler weather gave retail trade
strong impetus throughout the
Fifth Reserve District resulting IN a
substantial margin of gain over the
previous and comparable weeks. In
Richmond bank debts Of S38, ,480, 900
compared with S42,s60o 900 last week
and s42,319,ooo last year.
Department. store sales gained con-
siderably in Norfolk, while bank
debts of $11,533, 900 for holiday week
compared with $11, ,627, 900 last week
and s1o,s43, 900 last year. Clearings,
S2,393,0Oo, against $2,789,000 last
week and s2,336, 900 last year. Gro
cery sales were per cent below previ-
Gus week and IL per cent under last
year.
Retailers in Baltimore had better
business than the previous and COM
parable weeks and were preparing
for the most active holiday trade
In five or six years. Wholesale
markets felt broad expansion of holi-
day buying, with the trend for sea-
sonal merchandise also upward.
In Charleston, furniture and de-
partment store sales lead in the rise
of 1s per cent over last year. De-
partment stores in Washington gained
1854 per cent over last week and
l767 over last year"
Weekly surveys for the rest Of the
year are expected to be still more op-
timistic, especially in the Capital.
The Washington Association of Credit
Men looks for an increase in spend
ing among Government workers now
that the election is settled. Many
Government employees having ap-
pointive positions had been saving
all the money they could during the
campaign. Now that their positions
seem assured they will feel free to do
a normal amount of shopping, thus
giving further impetus to trade, ac-
cording to credit association predic-
tions.
Puerto Rican Trade Scars.
Featured by substantially larger
trade in foods, shoes and cigarettes,
Puerto Rico's purchases from Conti-
mental United States during the first
nine months of the current year in
creased % per cent over the same
period of 1885 and the volume of pur-
chases is estimated to be the largest
of all time for similar period, ac-
cording to statement by the Puerto
Rican Trade Council in Washington,
based on United States Department
Of Commerce figures.
The total purchases Of merchandise
produced and manufactured in the
States amounted to S61,3O0,000, the
report states. Food shipments. which
exceeded s2o3o0,0o0, were 16 per cent
higher than in the same nine months
Of last year.
Puerto Rico's purchases of leather
footwear exceeded 100000 pairs, a
gain of II per cent over the preceding
year. More than half a billion ciga-
rettes, valued at s2,37O,0o0, were sold
to the island. an increase of 19 per
cent over 1885.
Shipments Of merchandise from
Puerto Rico to the mainland United
States also increased. The value OF
the products, mostly sugar and to-
bacco products and fruits, was 20
per cent above last year, and amount
ed to s84, 100000.
Christmas Shopping Lively.
A forward surge in Christmas shop
ping is already evident in retail stores
throughout the country according to
the National Retail Dry Goods As
sociation, which declared today that
holiday buying this season has begun
earlier than in any year since 1929
and gives ample promise of being
exceedingly robust from now on until
Christmas"
Thousands of stores are reporting
early interest from consumers in hol-
tday merchandise, Charming E.
Sweitzer, managing director. asserted.
coincidence in business conditions
appears to be broadly evidenced, and
with political distractions definitely
out Of the way, there is genuine be-
lief among merchants that consumer
spending will now be unleashed in
full force for a tidal wave of holi-
day spending.
Total retail sales for 1886 will un-
doubtedly be greater than for any
year since $780, and greater gift-giving
among millions may make the present
Christmas season the busiest for stores
since 1929. Sales during the period
for the country as whole are likely
to show IL to Is per cent increase
over last year."
Hearn Stock Offered Today.
Public offering is being made by
Robert Garrett g. Sons of Baltimore
Of $4,000 shares Of Hearn Depart
ment Stores, Inc, per cent con-
vertible preferred stock of $50 par
value at $50 share. Concurrent
with this offering, the First New
Amsterdam Corp. of New York is Of
fering 10000 shares of common stock
ut $3.50 per share.
This offering of preferred stock
does not constitute new financing as
the stock is in the hands of affiliated
corporations. The preferred stock is
convertible into common at the rate
Of three shares of common for each
share of preferrd until Octobr /. 1887
and thereafter until December 81
1e41, at the rate Of two and one-hali
share for one.
Mergenthaler Sells at Sc.
Mergenthaler Linotype sold at Sc
on the Washington Stock Exchange
today, rejecting strength following
the annual report made public few
days ago. The stock sold at 81 ir
Boston Saturday, another new high
mark.
Washington Gas SIS, 1860. wert
strong on the Exchange today. three
$1,000 sales taking place at 125. Cap.
ital Traction SIS appeared on the boarc
l.- -