Evening star., 1936-02-24
BUSINESS
IN FIFTH DISTRICT
Weather Having Less Seri.
GUS Effect on Trade,
Survey Shows.
BY EDWARD C. STONE.


tions, according to the latest Depart
ment of Commerce review.
While business in Baltimore was
well ahead Of last year, judging by
bank clearings, and Washington made
department store sales gains over the
previous week. business seems to have
been best in the Southerl. part of the
district below the "bad-weather zone"
Details from the latest Commerce
summary show:
Business in the fifth reserve dis
trist recovered losses Of previous Sc
Verely cold weeks, but there was no
appreciable margin over last year. In
Richmond bank debts rose to $29.-
394,000, against $26 ,259,0O0 last week
and s28,960000 last year
while department store sales in
Charleston S. c.. did not advance be-
yond last years level. retail trade in
general was IL per cent better, auto
mobile sales having gained Is per
cent and furniture Is per cent. A
sharp rise was also reported in radio
sales. The contest amcng retailers
for the election of queen for the
forthcoming annual Azalea Festival
served to stimulate, business Whole
sale grocery trade picked up 10 per
cent over previous week Bank clear
ings receded 13 per cen. under pre-
vious week and per cent under last
year. South Carolina's fruit and vege-
table crop for 1885 has been valued
at $10,000,000.
Department store sales in Nor
folk gained moderately over the pre-
ViouS and 1885 weeks and, while bank
debts increased over last week. they
receded from the ieve. of the COM
parable 1885 period. Coal dumpings
were up 20 per cent over last week,
but were Is per cent lighter than last
year.
washington department stores had
81 per cent better business than last
week, but the volume receded mod
erately from last year. Bank clear
ings declined 6.5 per cent flom last
week, but were 229 per cent greater
than a year ago." the review con-
cludeS.
Rapid Transit Reports Gains.
The Washington Rapid Transit Co.
has started 1886 with an Improvement
in earnings over 1885. the January re-
port being filed with the Public Utili-
ties Commission today
The bus company reported operat-
Ing revenues of l,76964 against
$36,23777, gain of s5.53l87 over
January, 1885. Operating expenses
and taxes called for $50 ,381 43, an in
crease of s2,84094 over the same
month in 1885, leaving a net income
from operations of S5,38821 against
$2,697.28, a pickup of s2,69093
Gross income was practically the
same as operating net. Deductions
from gross totaled $1,812.11. as COM
pared with Sl,906.87 a year ago. leav-
ing total net income of $3.64327. in
comparison with S85642, an advance
of S2,786.85 over the first month of
1885. The report also reveals a gain
in passenger traffic and a good grip
on expenses.
Washington Rapid Co. is the con-
Germ which the Capital Transit Co.
wishes to buy and weld into its own
service, the price offered having
caused lively controversy with the
Public Utilities Commission, being
considered in some quarters as ex-
cesSive.
Insurance Payments Grow.
During 1885 the New York Life In
surance Co. paid or credited Sal ,6O2,-
272 to living policyholders and S67,-
991 ,240 to the beneficiaries of those
who died. it is stated by Thomas A.
Buckner, president, in the company's
annual statement.
On December 81. 1885 the company
had 2,672,636 policies in force The
amount of new insurance issued by
the company during the year was
$466,356,000. In addition, men and
women paid $40 428 5S2 for annuities
to provide guaranteed life income.
Assets at the close of 1885 totaled
S2,243,5S7,752. This represents an in.
crease of $134.082 528 over the pre-
vious year. Liabilities were $2,126,-
880,881
Heard in Financial District.
William j. Flather one of the vice
presidents of the Riggs National Bank,
who has been connected with the in
stitution for more than half a CEN
tury, is confined to Emergency with
double pneumonia. His condition is
considered very serious.
The Senate Banking and Currency
Committee has definitely fixed tomor-
row as the date for opening hearings
on tentative bill prepared by Chair
man Lands of the S. E. C. which
would give that agency the power to
continue unlisted trading activities
beyond the June ! deadline fixed in
the present law.
New life insurance written in Wash
1ngton in January was per cent
lower than the amount of business
done in January, 1885, Hartford re-
ports state. This is a very different
showing from the average for the
whole country, which was off 26 per
cent from year ago.
Virginia Firm Forges Ahead.
The annual report of the Life In
surance Co. of Virginia reveals a
notable upward trend. The Wash
ington agents report that the Rich
nnond company had an increase in
= insurance in force of more than $40
100000 during 1885. Assets were up
$4.500,000 and the average rate of in
terest earned on investments during
the year 4.54 per cent Over $4,000
was added to surplus Payments to
policyholders and beneficiaries passed
the $8,000,000 mark. At the same
time legal reserves were advanced by
$3,745, ,628.
Today's Trading on Exchange.
Bonds were in the best demand on
the Washington Stock Exchange to-
day after the double holiday. Capital
Traction IS opened at 901a and closed
ut 90ss, with three $1,000 sales and
one $4,000 sale. Potomac Electric