Evening star., 1936-10-25
TRADE INDICATORS
STAGE FURTHER
!. RISE IN CAPITAL
CIearings, Departm ent
Store Volumes and Build
ing Well Above 1885. ;,
RETAIL SALES MOUNT
rs PER CENT IN WEEK
Score Gain of 1873 Per Cent Over
Year Ago-Redwood Named
Head of Bank Group.
BY EDWARD C. STONE.


Bank clearings, department store
trade and the value of building per-
mits issued during the last week in the
Capital revealed substantial improve
ment over the same week q year ago,
and in all instances were we'll ahead Of
the previous week this year, the Com
merce Department reported yesterday
In its weekly review of business con-
ditions in 81 important cities.
Retail trade was rs per cent better
than in the previous week and 1913 per
cent higher than, in the correspond
ing week in 1885. Bank clearings
jumped lit per cent over the preced-
ing week and 28.3 per cent above the
like period a year ago.
At the same time the value of build
ing permits issued in Washington
gained as per cent on the previous
week and mounted 21.1 per cent higher
than the mark set year ago. ALI
three barometers add further evidence
Of the rising tide of prosperity which
has pervaded the Capital all this year.
Tourist activities showed a slight
marked gains over the same week a
year ago, according to the Smith
sonian Institution visiting records.
Redwood Heads Bankers Group.
John Redwood, jr., of Baker, Watts
g. Co., Baltimore, was elected chair
man Of the Southeastern group, In
vestment Bankers Association, at the
annual meeting In the Monument City
late Friday. About 20 members of
Washington investment houses took
part in the election. The new chair
man has been vice chairman during
the last year and succeeds Y. E. Booker
Of this city.
Robert S. Belnap of Alexander
Brown g. Sons. was chosen vice chair
man, and G. r. Boyce of Stein Bros. &
Boyce was named secretary and treas
urer. John G. Legg, jr., of Machubin,
Legg " Co., was reelected to the Exec
utive Committee for three year term.
The election was largly attended. as
interest in the organization has grown
very fast Ia the last II months.
B. Howell Griswold Of baltimore,
who ID chairman OF the Conference
Committee Of Investment Bankers,
Inc, spoke on the aims Of the new
organization in its efforts to improve
relations and practices among invest
ment dealers and also their methods
Of dealing with the public.
Retail Collections Hold Up.
Retail collections in Washington
and other department stores in the
nth Reserve district held up well in
September, the Reserve Bank Of Rich
mond reported yesterday. In WASH
ington rs per cent of receivables due
were collected during the month, 20
per cent in Richmond, ~ per cent in
Baltimore and Is per cent in a group
of stores in other places. Average for
the whole district was ~ per cent.
In the first nine months of this
year stocks of goods were turned 3.279
times In Washington stores, 2817
times In Richmond, 2.741 times in
Baltimore and 1881 times in the
whole district. In September alone
Washington had the best stock turn
over in this territory.
As already noted, September retail
sales in the Capital were 81 per cent
better than last year, while sales in
the entire district were ST. per cent
better. Sales for the first nine months
we're over 10 per cent ahead of last
year in this city, 13 per cent in a
group Of other cities and SO per cent
81 1ae 81 ~, cfn IN, "a
whole fifth district. Compared with
other months in 1896, all the percent
ages are highly satisfactory.
Institute Committees Named.
Paul j. Seltzer, president, Washing
ton Chapter, American Institute OF
Banking, yesterday announced the
following committee appointments:
Archives Committee. Harry
Rider, chairman, National Metropoli-
tan Bank; James B. Ahalt, City Bank;
Thomas p. Corwin, Riggs National;
Dorothy Covert, Security Savings q
Commercial; George A. Dressed,
Prince Georges Bank, Mount Rainier;
Franklin A. Gibbons, Riggs National:
Yeager Gum, Security Savings &
Commercial; Janet Mcdonald, Amer
ican Security & Trust Co.; j. Earle
McGeary, w B. Hibbs & Co.; Frances
Werner, Hamilton National, and
= Martha Yates, National Metropolitan.
Audit Committee-Robert M. Poole,
chairman, Riggs National: w. M.
Offutt. Washington Loan & Trust
Co.; A. r. Schreiner, Citizens Ma
tional Bank, Alexandria. and Nelson
Stokes, Lincoln National.
House Committee-Harry F. Har-
ding, chairman, Union Trust Co.;
Paul w. Clarke. Hamilton National;
Edridge D. Kendrick, District of Co
lumbia Bankers Association, and L.
Harry Rider, National Metropolitan.
Stocks Firm at End Of Week.
Following the recent setting Of sew.
eral new 1886 high marks on the
washington Stock Exchange, prices
wound up the week firm yesterday.
Washington Railway & Electric pre-
ferred again sold at 1l2. Peoples Drug
Stores preferred recorded another sale
at 112, and in the bond division Wash
1ngton Gas Light SIS, 1860, changed
ownership at 1241a, very close to the
1886 top.
PROFITS ABOVE YEAR AGO.
NEW YORK, October "a R.-