Evening star., 1936-11-22
SHOPPING BOOSTS
D. c. STORE SALES
SHARPLY IN WEEK
Volume 1919 Per Cent Above
Previous Period and
Ahead of 1885.
CLEARINGS, BUILDING
PERMITS ALSO MOUNT
Hartman & Keech Will Give
Christmas Bonus Equal to
Two Weeks Salary.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Fair and seasonal weather quick
ened the tempo of retail trade in
Washington and the rest of the fifth
Federal Reserve district during the
week just ended, the Department of
Commerce reported yesterday.
DEPARTMENT store sales in the Capt.
tai registered gains of 1913 per cent
over the preceding week and were
slightly larger than in the correspond
ing week year ago, the review said.
The report is in line with other
recent Commerce Department surveys
which have noted substantial trade
improvement for many weeks, bearing
out Of the prediction that Christmas
trade here will reach proportions at
least 10 per cent above the 1885 mark.
Secretary Roper's recent trade fore
cast Is being more than fulfilled so far
as Washington is concerned.
Baltimore, Richmond and Norfolk
were among the fifth district cities
reporting marked trade gains during
the week. Baltimore reports state
that merchants expect one of the most
active holiday seasons in the past
seven years, or back to pre-depression
days. The same views are being freely
expressed by merchants in this city.
Clearings Reveal Upsurge.
Washington bank clearings add their
proof of the business gains in the Capt.
tai. During the past week clearings
totaled S25,116,227 in comparison with
s20,648,599 in the same week in 1888.
This is a gain of 216 per cent. Clear
ings here were also almost per cent
above the figure for the previous week.
The value of building permits IN
the Capital rose sharply, the Com
merce report states, standing at s8l6.-
500. an increase of II per cent over
the previous week and 279.5 per cent
over the corresponding week a year
ago. Tourist activities continued at
an accelerated pace.
The Commerce report shows that
several of the 81 important cities COW
cred in the weekly survey had even
better gains than Washington. Tnis
Is largely due to the fact that year
ago the retail stores here piled up
much larger increase in sales than
most of the other cities were able TO
register.
Merchants in the Capital are highly
sratified that trade is still expanding
to new heights.
Leonard to Address Bankers.
r. F. Leonard, assistant chief, dlvl-
sion of examination, Federal Reserve
system. will be the guest speaker at
the first Fall meeting of the f1duciaries
section of the District Bankers Asso-
citation next Tuesday evening at the
Cosmos Club. The section will open
the season with dinner meeting.
The guest speakers subject will be
"Some Aspects of Federal Regulation
and Supervision of Trust Depart
ments." This years section chairman,
James A. Soper, will preside. He is
vice president and cashier OF the Lin
coin National Bank. About SO reSer-
vations have been made.
Saturday trading on the Washington
Stock Exchange was very quiet, con-
fined to a single issue. Mergenthaler
Linotype recorded a 25-share sale at
SAY and closed the week with 10
share sale at 54A.
Bid and asked prices on other issues
were practically unchanged. Five is
sues on the exchange are now being
quoted ex-dividend, Potomac Electric
Power 51s per cent preferred and the
per cent preferred, Washington Rail-
way Electric preferred and common
and Lanston Monotype.
Christmas Bonus Declared.
The New York Stock Exchange firm
OF Hartman g. Keech has declared
q Christmas bonus in an amount equal
to two weeks salary, according to in
formation received at the washington
office yesterday by John Caswell, jr,
manager.
The bonus will be distributed to the
clerical employees and all officers OF
the company who have been con-
tinously employed since July l, 1886.
One half of the bonus will be paid
prior to the Thanksgiving holiday and
the other half to be presented before
Christmas
Hartman g. Keech is a brokerage
firm which came into being as the
result of the merger Of two veteran
exchange houses some years ago.
washington has had an office ever
since the consolidation. This is the
first brokerage firm having an office
here to announce plans for a Christ
mas bonus and the amount to be dis
tributed.
Directors of the Seat Pleasant Bank
have voted a az per cent dividend to
stockholders of record November IA,
Leo j. Naughton, cashier, announced
yesterday. The dividend is payable
on December /.
The Christmas saving club Of the
Seat Pleasant Bank more than doubled
during 1886, it was disclosed yester-
day. The club had 100 members last
year and $50 this year. In 1885 the
bank distributed $4,000 to club MEM
bers and this year $4,000.
INTERNATIONAL WTAMlN
LIFTS DIVIDEND RATE
special Dispatch to The Star.