Evening star., 1936-07-26
SALES IN CAPITAL
WELL ABOVE LIKE
PERIOD YEAR AGO
Rise of 25oo Shown in
Weekly Summary Of
Trade Status.
COLLECTIONS ARE GOOD
IN CITY DURING JUNE
Laughlin Names Institute Assist.
ants-State Banks Gain
in Strength.
BY EDWARD c. STONE.

gain VI ZO.O pei CGIlL OFtl lIlc CUIIc-
spending week a year ago and ad-
vanced So per cent over the previous
week, the Department of Commerce
reported yesterday in the weekly busi-
ness survey which covered So of the
leading cities in the United States.
The same report stated that bank
clearings in the Capital receded 4.a
per cent from the previous week, but
gained 239 per cent over the same
week in 1885. Building permit values
dropped so per cent from the high
mark of the previous week, but held
margin of Sc per cent over the
comparative week a year ago. Tour
tst activities showed substantial ad-
vance, according to registrations at
the Washington Monument.
Business moved at an accelerated
pace in the rest of the fifth Federal
Reserve district. Retail trade was
better than in June last year and
wholesale trade was augmented by a
fair amount of Fall buying orders
Richmond bank debts were up. Balti-
more reported an increase in employ
ment and % per cent rise in bank
clearings over the same 1885 week
Charleston, S. c., reported that trade
was from IS to SO per cent better in
the first six months of 1886 than in
the first half of 1885.
ID. c. Store Collections Good.
The Federal Reserve Bank of Rich
mond reported yesterday that 80 per
cent Of the receivables due Washing
ton department stores at the begin
ming of June were collected during
the month, the same average as for
the whole district. The highest per-
centage was reported at Richmond
81 per cent while Baltimore reported
81 per cent for June collections.
AS already reported. June retail
sales in Washington were 13 per cent
higher than a year ago against 10
per cent for the whole district. and
were 1876 per cent higher in the first
Six months in 1886. This compared
with SO per cent improvement in the
whole trade area and was considerably
ahead Of results in Baltimore and
Richmond.
Stocks Of goods on hand in the
stores here were 8 per cent higher
than at the end of June last year,
but we're per cent lower than at the
end of May. In the first six months
OF this year stocks in the Capitals
stores were turned over 2,254 times,
against an average for the fifth dis
trict of 2,047 times.
Laughlin Names Assistants.
William H. Laughlin, first vice pres
adent Washington Chapter, American
Institute of Banking, who was re-
Gently appointed chairman of the
Program Committee by Paul ]. Self
ger, president of the chapter. yesterday
announced the following members to
serve on the committee:
Catherine NJ Kreig, Riggs National
Bank; Frank M. Perley, American Sc
curity & Trust Co.; Katherine w. Nc
Calmont, w. B. Hibbs g. Co.; E. Wal
lace Schreiner, First National Bank of
Alexandria; George Rowzee, Lincoln
National; j. o. Lehman, Security
Savings & Commercial; Richard A.
&NOAA 40 4l1lANO144 4NdIlOlldl. xIOUtlG n.
Sisson, Hamilton National; A. Stanley
Wolfe, Riggs National; James C. Du-
lin, American Security & Trust Co.,
and Stuart Ogilvie. Second National
The Program Committee is to su-
perVise and coordinate the activities
of all committees throughout the year.
Chairman Laughlin, who is connected
s1,tf hi o..
Co, has been a member of the chap
ter since 1925.
State Banks Gain Strength.
Continued improvement in the con-
dition of State-chartered banking in
Stitutions. with an increase of more
than three billion dollars in a year in
total resources, is shown in a report
just issued by the State Bank Divi-
sion of the American Bankers Asso-
ciation. The report was prepared
from data furnished by State banking
departments.
THE combined resources of 10,473
State-supervised banks were $35,724,-
723,000 as Of December 81, 1885," the
report says. Total deposits amounted
to $50, ,526, ,920 900. Total loans and
discounts stood at $12,430, ,404, 900 and
total investments were $14,170,421,-
000." A year previous, tables in the
report show, there were 1854 State
supervised banks, with combined re-
sources Of $32.68o, ,203 900: total de-
posits, s27,2S7 1853, 600; loans and dis
counts, $l3,060,O33,O0O, and invest
ments. $12,582. .325.000.
OF the reporting State banking in
stitutions on December 81, 1885, 80
per cent were commercial banks, the
report states, per cent trust COM
panies, almost 8 per cent stock and
mutual savings banks and less than 1
per cent were private banks.
Index Near Six-Year High.
The Federal Reserve Boards ad-
tusted index Of industrial production
during June, at 103 per cent of the
1s23-1925 average, approximated the
six-year high which it set last De-
cember.
The Federal Reserve index was just
one point under the high set in the
closing month of last year. Both the
June and December figures were high
er than any others recorded for the
index since May, 1880.
Higher commodity prices because Of
the drought, increased employment,
gains in construction, cessation of
gold imports, large Treasury disburse-
ments of cash in connection with the
bonus. and considerable expansion
of retail trade as measured by auto
mobile, department store, variety
store and mail order house sales, were
other developments during June which |
the board noted.