Evening star., 1936-01-03
FAILURES DECLINE
F.. TO 16-YEAR Low
Commercial Total of Fifth
District Sets Record
During November.
BY EDWARD C. STONE.


years, the Reserve Bank of Richmond
reported today in its monthly review.
The record in this district was much
more favorable than the national No
vember record.
Failures in the district in NoVem-
Der, 1885, numbering "a, were fewer
than 80 failures in November, 1884,
and liabilities totaling $546.640 last
month, compared with $780, ,602 in No
vember last year, decreases in the
district in both number of failures
and aggregate liabilities in contrast
with increases reported for the United
States. Both the number of failures
and aggregate liabilities in contrast
with increases reported for the United
States. Both the number of failures
and aggregate liabilities involved were
the lowest in the fifth district for any
November since 1919.
Changes in employment in the Fifth
Reserve district during the past month
probably offset each other, leaving
little net increase or decrease in the
number of workers. Nearly all in
dustrial plants expanded operations,
and retail establishments took on ad-
ditional workers for the holidays,
but sales on tobacco markets dropped
and decreased the need for handlers.
and Winter weather interfered with
ell types of outside work.
Further Construction Gains.
Building inspectors in 81 fifth dis
trlct cities issued 2,142 permits in No
yember, compared with 1925 permits
issued in November last year. Estl-
mated valuation figures totaled S.
267,569. an increase of TAT per cent
above the total of s3,0l4,441 reported
for November. 1884, and 237 per cent
above s1,56465l reported in Novem-
Der, 1888.
Twenty-one of the 81 cities report
ed higher valuation figures for the
1885 month, including five OF the SIX
largest cities in the district. Some of
the smaller cities reported relatively
high figures last month, due in sew
eral instances to single large projects
financed in whole or in part by public
funds.
Contracts actually awarded in No
vember for construction work in the
fifth district. including both rural and
urban projects, totaled S16,417.226,
compared with S8,599,43l awarded in
November, 1884, and $l4,565 $50
awarded in November, 1888. OF the
awards in November this year, s4,-
427.5Ol. or u per cent, was for resi-
Dental work, compared with $780,
oil, or 22.4 per cent, for this type OF
work in November, 1894
Many Advances During 1885.
The Richmond bank report, re.
ceiysd here today. also states that
statistics for 1885 are not yet COM
plete but on the whole the year con-
tinued the upward trend in COM
nerce. industry and agriculture which
was noted in 1884 Banks continued
to hold the confidence of the public
which was gained in the second hall
of 1888. and deposit insurance was
made permanent by the banking act
Of 1885.
Retail trade in department stores
exceeded the volume of trade 0one in
the preceding year, and wholesale
trade in groceries, hardware and
drugs also exceeded 1884 trade, but
wholesale dry goods and shoe sales
declined about 10 per cent.
Most of the developments in fifth
district business between the first OF
November and the middle of Decem-
tty noted in October continued during
the later period. In banking, redls-
counts at the Federal Reserve Bank
OF Richmond showed a slight rise,
and an increase also occurred in In.
dustrial loans and commitments made
under authority Of section l3-B Of
the Federal Reserve act. Federal Re-
serve notes in circulation increased
during the month, but rather less
than in most years at this season.
Banks Increase Loans.
Reporting member banks increased
loans moderately between the middle
of November and the middle of De-
cember, decreased investments in Sc
curities and built up reserves at the
Reserve bank still further above re-
uulrements, while their deposits and
cash in vault increased. Debts to
individual accounts in % cities in
the fifth district during four weeks
ended December II showed a sea-
sonal increase over debts in the pre-
ceding four weeks, although ma.
jority of the cities failed to make the
gain and exceeded by nearly IS per
cent debts in the corresponding four
weeks last year.
Auchincloss Admits Partner.
Auchincloss, Parker & Redpath,
members Of the New York Stock Ex-
change. announced here that Charles
K. Dickson has been admitted to gen.
eral partnership in the firm. He will
represent the firm on the floor of the
New York Stock Exchange.
Formerly a partner in Tucker An
thony g. Co., he has been floor men,
ber of that firm for the last five years
and has been active in the brokerage
and investment business for is years
He is a graduate of Cornell Univer-
sity.
The main Offices of Auchincloss,
Parker g. Redpath are in Washington
In the National Savings & Trust
Building, other Offices being in New
York. Philadelphia. Baltimore and
Wilkes Barre. Members of the firm
expressed pleasure today over having
q partner acting as a broker on the
floor of the exchange. Comparatively
few brokerage concerns with head Of
fees outside of Wall Street have such
representation.
Mergenthaler Hits New Peak.
Mergenthaler Linotype reached a
new peak for 1885 and 1886 on the
washington Stock Exchange today
when two shares sold at IL. This was
q Jump of four full points over the
last previous sale. The stock closed
at AK bid and 43 asked. Mergen-
thaler jumped 31a points in Boston
yesterday. selling as high as a. One