Evening star., 1936-11-21
SHOE TRADE LEADS
IN FIFTH DISTRICT
Wholesale Demand Exceeds
Pace in Other Lines
During October.
BY EDWARD C. STONE.

1890, While WIlOlcSdlc u1 uS odAco
stepped up IA per cent, hardware IL
per cent, groceries per cent and dry
goods per cent, the Reserve Bank
Of Richmond reported today.
The call for wholesale drugs in
October was per cent better than
in September. and hardware sales
were up per cent. At the same time
there was a slump of % per cent from
September in shoe sales, per cent in
dry goods and 90 per cent in the
wholesale grocery business.
Wholesale trade in this territory
made fine record from January to
October as compared with the same
period a year ago. In the 10 months
dry goods scored pickup of over
~15 per cent, topping all the other
groups. Shoes came next with gain
Of better than 10 per cent Hardware
sales were up go per cent, groceries
81 per cent and drugs 8.6 per cent.
Stocks of groceries on hand at the
end of October as compared with the
same date year ago showed per
cent increase in groceries, IT in dry
goods, 8 in shoes and per cent in
hardware, with no figures on drugs.
Compared with the end of September
groceries and hardware stocks were
higher and dry goods and shoes lower.
The Richmond report reveals that
collections were excellent. During the
month lis per cent of groceries re-
ceivables were paid, As per cent of
the dry goods bills, So per cent on
shoes, 81 per cent of outstanding
hardware bills and IA per cent Of the
money due on wholesale drugs. The
whole report is one of the best made
IN any month in 1886.
Bankers Push 1887 Club Plans.
Members of the District Bankers
Association were told at the weekly
luncheon yesterday at the Willard Ho-
tel that plans have been completed
for the opening of the 1887 Christmas
Ssavings clubs in some 20 Washington
banks
Nearly all the banks in the city will
maintain these popular clubs again
next year, following much the same
lines as they have in the past. Few
cities in the United States have made
such success of this type of Christ
mas savings, this fact being evidenced
by the total amount set aside each
year as well as by the per rapita
amount deposited by the individual
Smembers.
1t is generally understood among
the banks that l per cent will be the
interest paid on Christmas savings
club funds during 1887. The banks
are still finding difficulty in employ
ing all their funds to advantage and
for this reason do not feel that they
can pay higher rate. The cost of
conducting the clubs is also consider
able. on account of the very large
amount of bookkeeping involved in
the records
Thomas J. Groom. first vice presi-
dent of the District Bankers Associa-
zion. presided at yesterdays luncheon
meeting in the place of President
Karl w. Corby, who is confined to
his home with illneess. Mr.. Corby
was reported as improving steadily.
Until his return to the financial dis
trict Mr.. Groom will continue in
charge of association affairs.
Transit Stock Reviewed.
One of the well-known financial
services in New York, which advised
the sale Of Capital Transit stock in a
sreview sent out several weeks ago, has
now reversed its position and favors
retention of the stock. A review.
which has just reached the financial
district, goes into the history, pros
poets and earnings of the Capital
Transit Co. and seems to hold the be-
- lief that the District Commissioners
will grant the company'S plea for high
fares.
Irfthe financial district here it is
eA,cted that some definite ruling on
the application for higher fares will
be reached soon by the Public Utili-
ties Commission. The matter has
been pending several months.
The financial district also under
stands that the october earnings were
well in the black following the deficit
reported from operations in Septem-
Der. The stock is now selling on the
Washington Stock Exchange around
13, against low for the year of 1l%
uUu d IlSIi IldIh Va 1 "A.
Market Experts to Gather.
=. The fifth annual meeting Of the
American Marketing Society will be
held at the Claridge, Atlantic City,
November 27 and 20 in cooperation
with the National Association of Mar
keting Teachers. These two associa-
tions will merge on January l, 1887,
and will be known as the American
Marketing Association.
Several Washingtonians will speak.
Gustav Seidler will gave an address
on Geographical Price Relations in
Competition" Corwin Edwards will
discuss THE Struggle for Control of
Distribution" Charles j. Brand will
consider Marketing Technique"
Business Comes Out of the Depres-
sion" will be the subject of John
Guernsey, also of Washington. Many
officials of marketing associations are
also on the program. which promises
to be one of the best yet carried out
by this society.
Financial District Notes.
Consolidated Gas of Baltimore has
registered with Securities and Ex-
change Commission $23,000,000 of 314
per cent first refunding mortgage
sinking fund bonds. This brings the
total of filings this year to .$4,726,-
= 1851. against $3,141,811,917 in all
Of 1885.
The most striking development in
the dairy situation has been the. high
level of milk production during the
Fall, the Bureau Of Agricultural Eco
nomics said today in review of dairy
conditions. Total production on No.
vember is estimated to have been
about 6 per cent larger than a year
earlier and the highest on record for
that date. This is in marked con-
trast to the situation In the late Sum-
yEiaeia raradI,ctiasa dacidailyr