Evening star., 1936-09-09

Executive Coun- a
Gil of A. B. A, M$$aA n
Mr., VaSS has also c..o We.
done much COM
mittee work for the association, serv-
ice on the code committee and the
committee on banking studies being
two of the most important. He is the
third Washington banker to start for
the West Coast meeting.
Seaboard Dividend Declared.
The board of directors of the Sea-
board Finance Corp, headquarters in
the Southern Building, today declared
the regular quarterly dividend of SO
cents per share on the preferred
stock. This dividend is payable Sep
tember 80 to stock of record Septem-
ber IS.
The National Stationers Association
reported today that business in Wash
ington, Maryland and Virginia in
July was 2738 per cent better than
in the same month last year. This
was one of the best records made in
any part Of the country.
Eliot H. Thomson, Washington
Loan g. Trust Co., will represent the
District Bankers Association at the
convention at the National Adver-
tisers Association at Nashville, the
sessions opening on September IA. He
Is chairman of the Advertising Com
n1ittee of the local association. The
convention devotes its time largely to
financial advertising.
Frank NJ Perley, trust investment
officer Of the American Security g.
Trust Co. sailed today on the S. S.
Manhattan for a short trip to Eu-
rope. He is visiting England, Hol-
land, Belgium and France and going
to visit a number of the banks in
London and Paris as we'll as the stock
exchanges in these two cities.
Unemployment Gains Noted.
Conditions in employment in the
fifth Federal Reserve district appear
to have improved further during Au-
gust. Opening Of tobacco markets,
says the Reserve Bank of Richmond,
IN South Carolina and border markets
in North Carolina on August Is gave
work to many tobacco handlers at
warehouses, and tobacco manufactur-
ing plants in the district set new rec
ords for output in July.
Textile mills increased operating
time, thereby adding to their en-
ployes or to pay rolls of those already
at work. Construction work provided
for by permits issued in July was
Ia fI,4 ,f u CaI
for in July last year, and contracts
actually awarded in July were also
very much above those awarded at
the same time last year.
Coal production in July was in
larger amount than in most years at
this season. On the whole, practically
every activity in the district which
employs labor has recently increased
operations.
Sales and Collections Climb.
According to survey just COM
pleted by the National Association Of
Credit Men and the Commerce De-
partment, total net sales of 568 manu-
facturers throughout the country reg
istered an increase of about 33 per
cent in July, 1886, from July. 1885,
and per cent over June of this year.
Total sales increased in July, 1885,
over the same month last year for
all of Is industry groups shown in
the report. The increases ranged from
81 per cent for leather and its prod
ucts to 70 per cent for iron and steel
and their products. Increases in July,
1896, sales over July, 1895, for stone,
clay and glass products and motor
vehicle parts also were high, each ex-
ceeding SO per cent.
Percentages Of collections on ac-
counts receivable submitted by SIT
manufacturers were higher for July,
1886, than for July year ago but
slightly under June Of this year. Dur
ing July, this year, the manufacturers
reporting collected 81 per cent of their
accounts receivable outstanding on
the first of that month, as compared
with 50 per cent collected during July
last year, and IT'S per cent collected
during June Of this year.
The highest collection percentages
were reported by the meat packing
4QOuSbIy, tklC 4SuISo 1OI CdCll VI t41C
three months covered exceeding 100
per cent, indicating that customers Of
the reporting meat packers took less
than 80 days on the average to pay
for their purchases.
Lincoln National Sells at 203.
Lincoln National Bank stock ap-
peared on the Washington Stock Ex-
change board today for the first time
this year when small sale took place
ct 203. Riggs National Bank preferred
also came out, selling at 100h.
Railway g. Electric preferred sold
ut 110h and Mergenthaler Linotype at
<6, OF half a point.