Evening star., 1936-12-27
D. c. SALES RISE
5T0 TOPPER CENT
ABOVE YEAR AGO
Some Department Stores
Expected to Show Still
Larger Increases.
CLEARINGS ALSO GAIN,
BUT BUILDING LAGS
High Marks Set in 1885 Keep
Capital Advances Below the
Less.Favored Areas.
BY EDWARD C.. STONE.

BY EDWARD G. STONE.
Omcials Of the leading Washington
department stores estimate that the
final tabulations on the volume Of
Christmas trade for the week ending
Thursday, December "a, will be ap-
proximately to 10 per cent over the
corresponding period in 1885, the
Commerce Department said yesterday
in its weekly summary covering IS
Of the most important cities in the
country.
1t Is likely that in some stores the
gain will be better than 10 per cent.
The department explains that the
1885 Yuletide trade in the Capital
was exceptionally good, and for this
reason the margin of gain this year
may not be as large as in some other
localities where last years holiday
trade did not come up to expecta-
tions.
Retail trade in the rest of the fifth
Federal Reserve district kept well up
with Washington's record, being even
better in some places. The increases
ranged from 10 per cent in Baltimore
to rs per cent in Charleston, S. c..
Holiday sales remained well sustained
right up to Christmas eve, with indi-
cations that the final sales-volume fig
ures will disclose an average gain in
the whole district of about 10 per cent
over 1885. Wholesale trade naturally
tapered of a little during the week.
Bank clearings in Washington
backed up the advancing trade fig
ures. Clearings for the week ended
December % were $24,733, ,453, COM
pared with $24,5o5.302 in the pre-
vious week and $16,575,094 In the
corresponding week a year ago. Al
though building activities decreased
IN line with the usual seasonal trend,
much new construction has been ap-
proved by the building inspectors Of
flee and awaits only the issuance Of
permits for the starting of construc-
tion shortly after the first of the
year. While maintaining a good mar
gin over last year, holiday travel into
the Capital slowed down during the
week, the Commerce report concludes,
The best weekly trade report in all
the South came from Atlanta, Ga.
where one store announced the largest
sales in 10 years.
Regular and Extra Declared.
Directors Of the National Capital
Bank, at the December meeting, de.
clared the regular semi-annual divi-
dend at the rate Of 50 per share and
also voted an extra dividend of 50 a
share on the outstanding stock. &C.
cording to announcement yesterday
by President H. H. Mckee. Both
dividends are payable December 81 to
stockholders of record on December %.
The Federal Service Finance Corp.
located at 71s jackson place northwest,
distributed a bonus Thursday to all
employees Of the company during the
year, equivalent to one months salary.
The bonus checks were presented at
a Christmas party which the company
gives annually at the Army and Navy
Club, President Francis e. Pope re-
ported.
Reserve Bank Expands Staff.
President Hugh Leach of the Federal
Reserve Bank Of Richmond announced
yesterday that E. A. Kincaid, professor
OF finance at the University of Virginia,
has been engaged as consulting eco
nomist by the Richmond Bank, effec-
tive January l. DR.. Kincaid will spend
part OF his time at the bank, but
will continue his present connection
with the university.
Governors Of the Federal Reserve
System reported during the week that
the IL Reserve banks will fail to cover
their full dividends this year for the
first time since 1888. In spite Of
economies introduced, the earnings
will not take care Of Expenses and
dividends. Stock Of the Federal Re-
serve banks Is owned by the member
banks and pays q 6 per cent dividend.
In the first six months of 1895 these
banks earned $19, ,130 900, and expenses
were 1882 900, leaving net earnings
Of $3,27S, 900, against dividend charges
Of $3,o21.000
Gas Sales Reveal Increase.
During the first II months of 1886
gas sales Of the Washington and
Georgetown Gas Light Cos. totaled
S,76s million cubic feet, compared
with 1858 million feet in the like
period in 1885, an increase Of lis
per cent. At the end Of November
the two companies had 143, sos meters
In service, an increase Of 7,445 over
1885. Net earnings, though
substantial, were not up to last year
because Of the lower price Of gas and
mounting expenses+$532, 1856. COM
pared with $872 ,929.
Potomac Electric Powers net earn
ings for the full year 1886 will run
about 13 per cent ahead Of 1885, judg-
ing by the report just filed for II
Net earnings to December
totaled $4,122,328.37, against $685.
6a6 90. which is . gain of 1914 per
cent. It Is anticipated that the rate
Of improvement will be maintained
during the present month.
All Washington's financial institu-
tions, including the Washington Stock
Exchange, will resume business to-
after the three-day holiday.
TRADE WITH CANADA