Evening star., 1936-12-20

mercantile sales.
At the same time
he expresses the
opinion that building operations, now
going forward so rapidly, will do a
great deal better in 1887.
In a brief review of the striking
economic betterment recorded in the
Capital in 1886 and a glance at 1887,
he said:
Bankers Chief Looks at 1887.
Marked improvement along all
business fronts has characterized the
past year in Washington.
AT this time bank deposits are at
their peak and extraordinary financial
activity is evidenced by the increase
in bank clearings. Mercantile sales
have shown remarkable upturn.
Building operations are over a
third ahead of last year and seem to
be just starting upward.
When we take into consideration
the growing importance Of Washing
ton. not only as the Capital of our
Nation but as a world political center,
I cannot but feel that our progress
during the coming year will be at a
greater ratio than is experienced
throughout the rest of the country.
II am optimistic for 1887"
Weather Slows up d. C. Trade.
Washington remained one of the
bright spots in the retail trade picture
again during the past week, although
department stores sales were begged
down a bit by inclement weather.
Sales scored gain of 81 per cent
over the previous week, but were 3.4
per cent below the corresponding week
last year, the Commerce Department
reported yesterday. Merchants. how
ever, anticipate enough increased
activity during the remaining Christ
mas shopping days to offset the modest
slowing up in business and boost the
seasons final results we'll ahead of
last year.
Bank clearings for the week totaled
$245O5,3 1902 against $24,903,546 last
week and $21, ,237,359 in the same week
last year. The value of building per-
mits declined from $686,00O a week
ago to S507 200, but remained above
the $487.250 figure of the correspond
Ing 1885 week. The usual seasonal
slump hit tourist activities in the
Capital.
Other cities in the fifth district re-
ported fair trade gains over last year.
Wholesale demand was very heavy
for goods to replace sold-out holiday
merchandise. Freer spending by
tobacco and cotton farmers is proving
q boon to the southern part of the
district. Bank clearings were up 81
per cent in Baltimore over the same
1885 week and bank debts IS per
cent. In all the cities the streets and
stores are jammed with shoppers.
Further Dividends Declared.
Directors of the Terminal Refrigera-
ting & Warehousing Corp, at a meet
ing held Friday, declared the regular
semi-annual dividend of S150 per
share on the total outstanding stock.
payable December % to stockholders
Of record at the close of business
December 18, Secretary j. P. johnson
announced yesterday. Books will be
closed from December 18 to Decem-
ber %.
At meeting of the board of d.
rectors of the Consolidated Terminal
Corp. Friday, it was voted to declare a
dividend Of $150 per share on the class
"a" preferred stock, rs cents per share
on the class "B" preferred stock and
$500 a share on the common stock, all
three dividends being payable Decem-
Der 81 to shareholders of record De-
cember 18. The books will be closed
to December %.
Trading Dull on Exchange.
On the Washington Stock Exchange
yesterday Washington Railway & Elec-
trio preferred figured in two small
sales at Ill. Capital Traction IS came
out in $500 bond transfer at 921a
The week started off with excellent
trading, blut slowed down q lot, al
though prices remained firm.
Capital Transit closed the week
with 13 bid and 14H asked. The last
sale In Mergenthaler at 56 was within
. point Of the high for the year. 1t
happened that the bids on Lincoln
National stock and Bank of Commerce
b. Savings stock both were 5000 a
share.
Quotations on local securities sold
aver the counter changed but little dur
ing the week, although the trend re-
manned upward. The greatest improve
ment was in Federal-American Co.
preferred, with bids up az points. The
bid on the common reached IL.
In brokerage houses here yesterday
1t was said that while the New York
Stock Exchange will be closed on the
Saturday after Christmas day, the ex-
change is not likely to close on the
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