Evening star., 1936-10-13

April ------- 40 1876, $40 A 1862 ,678
May ----- 48,655.771 42,421 ISL
June ------ 50,372,1o5 44,854,917
July 52,431 $50 46,506,098
August ---- 53.718,863 49,089 ,243
September --- 52,309,342 44,7l8,459
Fifth District Sales Jump.
The American Retail Federation. in
the National Press Building, reported
today that retail sales in 1885 in the
District Of Columbia increased 36 per
cent over 1888, IT per cent in Mary
land, 81 per cent in Virginia. 35 per
cent in West Virginia, 81 in North
Carolina and 80 in South Carolina
The average gain for the South At
lantic States as group was 81 per
cent, the report said, sales for the
group in 1885 totaling S3.253.235, 600
The report adds that in Washington
the number of stores in 1885 totaled
6,427, sales amounted to 1927 ,290, 600
employs 41,527 and pay rolls, s43,-
0,000: Maryland, stores, 22,935;
sales, S449,253,000; employees, 58,ll8;
pay rolls, s51 ,035, 900; North Carolina,
stores. 2943s; sales, s462, 900; en-
ployes, 60,l5o; payrolls, s44,082,o00
South Carolina, stores, 1854: sales
S246, 6,077,000: employees, 32,965; pay
rolls, S22,489, 900; Virginia, stores
26,724: sales, s47o,6130OO: employees,
1890; pay rolls, S48. .439 900; West
Virginia, stores, 1888; sales, $780,
269,00O; employees, 36,8s9; pay rolls,
s31,114,OOO.
The report further states that there
was per cent gain in the number
of stores in the Capital in 1885 over
1888, 2 per cent decrease in Maryland,
6 per cent gain in North Caroina. Z
per cent in South Carolina, per cent
in Virginia and II per cent in West
Virginia. There was gain of rs per
cent in the number of employees in the
stores here and an increase of % per
cent in the pay rolls, the summary
shows.
Preston Returns From Coast.
Ord Preston, president Of the Union
Trust Co., was back at his desk today
after trip to and from the Pacific
Coast via the Panama Canal. He
considered the A. B. A. convention at
San Francisco a signal success in
every way. he said today. Talking
with bankers from all parts of the
United States, he heard reports that
business and banking are improving
steadily all over the United States He
found bankers highly optimistic over
the outlook
Board rooms in the financial dis
trict were crowded for today's New
York Stock Market opening after the
two-day holiday. While there was
lot of talk about the latest gold agree
ment, this seemed to have little to dc
with the market opening, which was
fast and strong Many traders thought
that the gold situation would be more
likely to be helpful than otherwise
Time will tell.
Controller of the Currency j. F. T.
OConnor will be one of the speakers
at the eighth mid-year conference of
the New Jersey Bankers Association,
it was announced today. Merle
Thorpe also will speak at the same
meeting.
Bond men here are all ready for the
coming $50, 100000 issue of American
Telephone and Telegraph bonds due
about Thursday. 1t is predicted here
that the bonds will go to premium
shortly after they are placed on sale.
The debentures will pay 3l4 per cent
and run to 1861.
There is much interest in Washing
ton in the New York report that the
North American Co. is preparing to
refinance more than $135, 900 OF
outstanding subsidiary obligations.
Underwriting Firms Named.
The Cannon Shoe Co. has filed an
amendment with the Securities and
Exchange Commission stating that
Baker, Watts e. Co., Mackubin Legg
g. Co. and w. w. Lanahan & Co. will
be the principal underwriters of their
issue of 10000 shares of 51a per cent
cumulative preferred stock, par value,
$50, and 1857 shares of common
stock, par value, 81. The preferred
and common will be offered publicly
in units Of one share of each at $50
per unit. The remaining 6,667 shares
of common are to be retained by the
underwriters and will not be initially
offered to the public.
B. F. Goodrich Co. filed an amend
fnent with the commission delaying
proposed public Offering of $4,000, ,00O
~ per cent first mortgage bonds,
series A Of 1860, to October 80.
New Highs on, Exchange.
Two shares of Riggs National Bank
common stock hit 800 on the Wash
ington Stock Exchange today.
Mergenthaler Linotype also reached
q new 1886 high mark when it sold at
81 on three sales.
Potomac Electrical Power 3Xs, the
new issue, moved today on two $1,000
transactions at 104ss, off an 70 from
the last sale. Capital Traction IS sold
ct 91h.
Heard in Financial District.
G. G. Bowie of Washington was
elected q member of the Board OF
Governors Of the Mortgage Bankers
Association of America at the annual
convention just held in Memphis.
His term runs until the end of 1910.
The Federal Housing Administra-
ton has insured total Of $10,954. 900
in mortgage loans for the District in
the past 81 months operations. 1t
represents an average loan of $6,344,
as compared with an average OF
$4,003 for the entire country. This
indicates higher type of property in
Washington than in many other
places, according to Director j. Reilly
Stanton.