Evening star., 1936-10-15
D. c. STORE SALES
NEAR 1929LEVELS
Rate of Gain Since 1885
Census Shows New Peak
Is Likely.
BY EDWARD C. STONE.

Retail sales in washington nave
now climbed back practically to the
record pre-depression figures of 1929.
Possibly they may be a bit higher
than in the memorable period just
before the prosperity break.
The exhaustive business census re-
port just published by the Depart
ment of Commerce, comparing the
year 1885 with 1888, reveals a per-
centage gain in sales in the National
Capital of So per cent at the end OF
1885, as compared with 1888, follow
ing a percentage drop of 28 per cent
between 1929 and 1888.
Figures showing the total volume
of sales in Washington are even more
interesting and valuable. The Com
merce Department reports that retail
sales in 1929 totaled 1886 1862 600,
dropped to S241,515,000 in 1888 and
came back rapidly to 1927 ,299 900 in
1885. This leaves difference of less
than $4,000 900 in the total sales in
1929 and 1885.
While the Commerce report ends
with 1885, other reports show that
sales in the Capital have gone ahead
steadily during the present year. The
Federal Reserve Bank of Richmond
announced a few days ago that de-
partment store sales had gained 10.1
per cent in the first nine months Of
1886 over the same period in 1885.
While these figures are limited to de-
partment stores only, the percentage
gains for all sales in all stores run
about the same.
From this report it is evident that
sales here have now bridged the gap
and reached 1929 levels. If not, they
will shortly. surely before the end of
the year, predictions having already
been freely made the Christmas holi-
day trade this year will pass all for
mer records. The city has 6,427 stores,
which appear to be facing a long
period of new trade peaks.
Wilder Broker Office Manager.
W. c. Wilder, who with Gen. Rich
fnond P. Davis. has been one of the
co-managers of the Washington office
of the New York Stock Exchange firm
of Fenner & Beane, has taken entire
charge of the management Of the
Office here, it was stated in the hnan-
cial district today. AS already noted,
Gen. Davis has joined the staff OF
Hartman & Keech.
Mr.. Wilder has been connected
with the firms Office in the Capital
since last January, and has been with
Fenner & Beane for the last IS years.
He was manager for 10 years Of the
company's Office at Charlotte, N. c.,
and for five years before that was
located at Columbia, S. c. He is a
native of Georgia.
Mr.. Wilder is enthusiastic over the
market outlook. As long as business
reports continue as favorable as they
are now, he looks for strong mar
ket, regardless of the presidential
campaign. He believes there is much
more political talk in the board rooms
in Washington than anywhere else in
the United States, but when traders
and investors place market commit
ments, they base their action largely
on business and other economic con-
ditions.
Bankers Will Visit Vault.
Members of the safe deposit sec
ton of the District Bankers Associa-
tion will pay visit to the vault OF
the American Security & Trust Co
tomorrow afternoon at 3:l5 o'clock,
Chairman John F. Hillyard an
nounced today.
,;r;t k,x,f he
executive council, will give the men,
bers fine opportunity to inspect the
unusually large vaults which the bank
has and also an opportunity to discuss
some problems in safe deposit service
with the equipment at hand.
The members will be accompanied
BY bank officials who are responsible
for the operation of the safe deposit
departments. It is the first time the
section has held a meeting of this
kind and a record attendance is an
ticipated.
S2,709,000 Paid for Buses.
The total bill for new buSses since
the street car companies merged has
now reached s2,709,000 equivalent to
<5,15O,0O0 fares at an average OF 6
cents each, a Capital Transit bulletin
states. In the past three years pas
senger traffic has stepped up 8S per
cent while total revenue from fares
gained only A per cent.
On school days $500 Washington
school children ride the company's
cars and buses for cents per ride,
having the same transfer privileges as
the 1O-cent fare. In the past IL
months the Capital Transit Co. has
carried more than 220,o00,00O passen-
gers and at present is selling about
$4,000 passes a week.
The company has more than $500
employees and a monthly payroll OF
more than $4,000, the largest in the
city outside of the government, the
company says.
New Bonds Offered Here.
Bond dealers here are offering the
new American Telephone & Telegraph
25-year 81 debentures, which were
brought out today at 10l and accrued
interest. 1t was predicted that the
S150.o00,0 900 issue offered to the public
would be oversubscribed during the
day The entire issue is s175.o0o.ooo.
The Atlantic Coast Line Railroad
reports for the eight months ended
August 81 earnings of sl.3S per share
on common and net income OF ST.
1859, against net loss OF Sl,17l,-
s8e in the like period in 1885.
Building permits issued in WASH
ington in the first nine months OF the
current year we're 51.4 per cent greater
than the value of permits issued in the
corresponding period in 1885, accord
tng to a survey just issued by Dun d
Bradstreet. The whole fifth district
had a gain of over 43 per cent.
Today's Trading on Exchange.
Potomac Electric Power 3h per
cent bonds again sold at 104as on the