Evening star., 1937-12-12
HOLIDAY TRADE
LIFTS STORE SALES
IN D. c. SHARPLY
Volumes Up 55.87 Per Cent
From Week Ago, Says
Federal Report.
EST DROP REVEALED
COMPARED WITH 1886
DR.. Harold G. Moulton to Address
Midwinter Meeting of Bank
Association January II.
BY EDWARD C. STONE.

by EDWARD T.. STONE.
Going ahead by leaps and bounds,
holiday trade in the Capital dur
ing the past week scored a startling
advance of 55.87 per cent over the
previous week, the Commerce De-
partment reported yesterday. In
most of the other cities in the Fifth
Reserve District retail trade also reg
istered substantial increases over the
preceding week.
In the important comparison with
the same week year ago, however,
sales in washington stores were 5.57
per cent lower, the report added. 1t
will be recalled that Christmas trade
was very heavy at this time last year
and set pace that is hard to equal.
The S per cent drop here compares
with a 9 per cent decrease in Phila-
delphia, 10 per cent in Boston and 3
per cent in New York.
Washington bank clearings totaled
$24,964,833 for the week against the
lower figure year ago of $24,903,546.
Building permits were much lower,
$128, 400 comparing with $686,OO0 in
the comparable week in 1896.
Colder weather and the release of
CHRISTMAS savings funds were as
signed as two especially stimulating
factors in the weeks increase in holi-
day trade, the Commerce report said
Baltimore and most other cities in
this locality reported slight gains
over last year. Everywhere the rush
Is on and stores are crowded to the
doors with eager shoppers.
Brookings Chief to Address Bankers.
According to announcement yes
terday by Thomas j. Groom, presi-
dent of the District of Columbia
Bankers Association. DR.. Harold G..
Moulton. president of Brookings Insti-
tuition, will make the principal ad-
dress at the midwinter meeting of
the District of Columbia Bankers As
sociation which will be held January
II at the Willard Hotel. The sub
5ect Of his address will be Present
Trends"
John A. Reilly, chairman of the
Insurance Committee Of the associa-
tion and president of the Second
National Bank, will present a report,
as will George M. Fisher, chairman
of the Standardized Banking Forms
Committee and vice president and
treasurer of the Washington Loan &
Trust Co. There will probably be
other committee reports.
r. lie ryefov,or,,
this meeting the selection of the
general chairman of the associations
convention which takes place each
year during the month of June.
Ord Preston, second vice president
Of the association and president of
the Union Trust Co., is in charge of
arrangements for the meeting.
Prices Steady on Exchange.
In one of the best trading sessions
OF the week on the Washington Stock
Exchange, prices held firm on Sc
curities here. Washington Gas Light
Is, 1860, sold at 114A for a $1,000
bond
Real Estate Mortgage g. Guaranty
preferred stock recorded a sale of
1S0 shares at Az. Washington Railway
d Electric preferred stock was again
strong, rs shares moving at 1921.
Potomac Electric Power 52 per
cent preferred stock, which has been
in excellent demand recently, was
again popular yesterday, several small
lot sales being recorded at 11112.
American Fire Insurance Co. stock,
which rarely appears on the board,
came out at the high price of 100.
Insurance Club Adds Members.
The Life Insurance Club of WASH
ington, at the December meeting.
added three new members, Armand
Durant, Connecticut General; Loehl
oBrien, Massachusetts, Mutual and
William H. Ross, Home Life, New
York.
President Graham Wilson outlined
an educational program for the COM
ing year. In addition to the guest
speakers each member will address the
club on topics relating to the better
ment Of the life insurance business
as a whole. Individual problems of
salesmanship will also be discussed,
according to Secretary Paul w. Ham
mack.
Financial District Comment.
Washington brokers generally are
much pleased with the appointment
Of John w. Hanes, partner in the New
York Stock Exchange firm of c. D.
Barney & Co., to the Securities and
Exchange Commission He is thor
oughly familiar with the mechanics
OF, the exchange and everything else
connected with Wall Street. Jerome
Frank, the other appointee, was Sc
lected for his understanding of cor
porAte finance.
The Washington Office of Fenner &
Beane is distributing an extended re-
view Of the building situation. The
view Is expressed that it will take q
long time to get the proposed $l2 2,000,-
100000 housing program into opera
tton. Availability of easy mortgage
money will not lead man to build q
home unless he is justified in becom-
ing a home owner, the survey states.
Fundamental aspects Of the building
outlook, however, are decidedly en-
couraging, the brokerage firm believes.
zone Of the most far-reaching bonus
announcements Of the week came from
President Malcolm 6. Gibbs, who
stated last night that employees of Feo-
pies Drug Stores, Inc, are to receive
. Christmas bonus, the amount de-
pending on the salaries and length Of
service.
COCOA FUTURES.