Evening star., 1936-08-07
D. c. LIVING COSTS
RISE MODERATELY
Retail Gain of 2.2 Per Cent
Is Far Below National
Climb.
BY EDWARD C. STONE.

gains of 8. 9 and 10 per cent, accord
ing to the latest survey made by the
department of Labor.
Comparing Washington with other
cities in the South Atlantic area, the
survey shows that food costs gained
S per cent during the past year in
Richmond, 2.3 per cent in Baltimore,
SIS in Atlanta. 65 in Charleston, S.
c.; IL in Jacksonville, SO in Nor
folk and 60 per cent in Savannah.
Louisville, KY, is the city that re-
ported 10 per cent increase in food
costs during the past II months.
In the first two weeks of July
cereals and bakery products advanced
0,1 per cent, meats 2.5 per cent, dairy
products per cent, eggs per cent,
fruits and vegetables 48 per cent,
beverages and chocolate O6 per cent,
fats and oils 2.5 per cent, sugar and
sweets 0.S per cent, the Labor De-
partment states.
Potatoes are given credit for keeping
the index on retail food costs from
going higher in recent weeks In the
first two weeks in July potatoes
dropped 1875 per cent offsetting the
advances in other foods.
Along this same line, Investor Syn
dicate, Minneapolis, has made study
covering May and June, which states
that the average American got a
larger cash income in June than in
May, or in June year ago, but, be-
cause the drought lifted food prices
and rents continued their advance, he
had a slightly smaller real income"
than in May, though considerably
above that of June, 1885.
Cash income of the average citizen
In June was $l.15 for each ST in June,
1885. Cash outgo. however. in June
was $1,04 for every 81 in June, 1885.
Therefore real income, which is the
difference between cash income and
cash outgo, last June was Sill for
every ST in June, 1885. While it is
probable that future months will not
show such sharp rises in foods it ap-
pears likely that the effects of the
drought will be visible for the rest of
the year.
Peoples Drug Sales Climb.
Sales of Peoples Drug Stores, Inc,
IN July, just reported at the head Of
fees OF the company here. amounted
to $l,732,576 against S1,547,49l in
July, 1885, gain of $l85,O85, or 1l.9
per cent
Sales for the first seven months of
this year were reported as 1874, ,324
in comparison with S10,624,6O5 in the
like period in 1885, an increase of
$989,719 or 93 per cent.
Sales in June this year showed an
increase of 81 per cent over June
year ago. The July percentage gain
was quite little better than the June
gain, although both were highly salts
factory.
The present week has witnessed
notable gains IN the sales of other
chain store systems, enough improve
ment to make the stocks especially
strong in recent exchange sessions in
New York
S9,685,255 Bond Issues Voted.
Voters of los municipalities located
in 26 States during the month of
July approved municipal bond issues
aggregating $9,685,255, as compared
with S6,248,390 bonds approved dur
Ing June. according to the Daily Bond
Buyer The total for July, 1885, was
$ll ,383,1 ,140, compared with only
Sl,807,500 in July. 1884, and $27,-
s36,852 in July, 1888.
Bond issues for various purposes
were approved by voters in a number
of municipalities in Iowa. largest of
which were S1,100,000 for Sac County,
Iowa; Sl,000000 for Lyon County,
Iowa; Sl,000000 for Sioux County,
Iowa, and S96O,00O for Ada County.
Iowa. The voters of Texarkana, Tex,
also approved an issue of Sl,2O0,O0O
bonds.
During July total of S3,6O8 500
OF proposed financing was disapproved
by the voters of 80 communities in
16 States, as compared with s4,566.-
400 in June
Bright Takes Brothers Place.
George H. Bright, one of the pay
Ing tellerS at the National Metropol-
1tan Bank, who has been connected
with the institution for the past A
years, has been appointed manager
OF the Washington Clearing House
Association, to succeed his brother,
Charles E. Bright. who is retiring
from active banking.
Kuhn, Loeb & Co. announced TODAY
that the $200O0,OOO PENNSYLVANIA
Railroad general mortgage 334 per
cent bonds, series c, have already
been sold. The offering was made
yesterday.
The Reserve Bank of Richmond has
sent notices to member banks an
nouncing that Secretary Morgenthau
has invited tenders for S50000,O0O
273-day Treasury bills, which will be
sold to the highest bidder on a dis
count basis, the books closing next
Monday. The bills will be dated Au-
gust II and mature May IL, 1887.
The District of Columbia branch
and the Baltimore branch of the
Acacia Mutual Life Insurance Co.
are holding a joint outing today at
Bay Ridge, Md. Events will include
golf at the Annapolis Roads Country
Club. in charge of J. A. Barbeau;
base ball. in charge of r. c. Merritt,
and general entertainment, under the
direction of C. C. Cove. P: L. Rogers
Is general chairman Of the outing.
Noted in Financial District.
Strength in Southern Railway COM
mon and preferred stocks in the New
York Stock market today was espe-
cially pleasing to visitors in the local
board rooms. as these issues are so
widely held in the Capital.
Board room attendance in broker
age here in these August days is un-
usually good. Recent dividend action
by many corporations, earnings re-
ports and the general activity in all
markets has had tendency to stave
off the Summer lull" and keep mar
ket interest at a much higher pitch
than is usually the case at this time
Of year. Bond houses here also re-
port broad investment interest.