Evening star., 1937-01-26
WHOLESALE TRADE
CLIMBS IN YEAR
Fifth District Volume Up 10
Per Cent Over 1885,
Bank Reports.
BY EDWARD c. STONE.


Wholesale trade in the fifth Fed
eral reserve district, including the
Capital, in 1886 was approximately
10 per cent higher in volume than in
1885, according to a report made to-
day by the Richmond Reserve Bank.
Total sales in dry goods were l6
per cent better than in the previous
year, in hardware l06 per cent, in
shoes 10.1 per cent, in groceries 9.5
per cent and in drugs 9.3 per cent.
For December four of the five re-
porting lines had greater volume Of
sale than in December, 1885. Hard
ware headed the list with 226 per
cent, dry goods enjoyed 22.4 per
cent jump, drugs were up 20 per cent
and groceries lS per cent, but shoe
sales were off per cent. Naturally
most of the wholesale buying in the
district in December was considerably
urder the November record, when
much of the holiday buying was under
way.
Stocks on hand at the end of De-
cember. compared with December,
1888, were per cent higher in gro
ceries, IL per cent in dry goods, 80
per cent in shoes and AZ per cent in
hardware December collections were
by far the best in groceries, being 1875
per cent of receivables Dry goods COL
lections were As per cent of bills
due, shoes oa per cent, hardware 40
per cent and drugs 64 per cent.
Electrical Concern Sold.
Sale of the entire electrical business
of the National Electrical Supply Co.,
1880 New York avenue northwest, to
the General Electrical Supply Co., a
subsidiary of the General Electric Co.,
will be accomplished if negotiations
now in progress are brought to a sat-
isfactory conclusion, it was learned
today.
It Is expected that final arrange
ments for the sale will be completed
shortly and that the change in owner
ship will take place early in February.
The National Electrical Supply Co. was
organized about 40 years ago and the
present president. E. c. Graham, has
held that position over 80 years. He
also is president of the Hamilton Ma
tional Bank.
The business originally was located
at 141o Pennsylvania avenue and later
moved to 1417 New York avenue. Sew
eral years ago the company constructed
its own building at 1328-l330 New
York avenue, where the business Will
be continued under the new owner
ship. It is understood that the entire
personnel will be retained by the new
management.
Aspinwall Again President.
These directors were reelected at
the annual meeting of the stockholders
of the Security Storage Co.: G. A. As
pinwall. H. L. Rust, jr.; Corcoran
Thom, Lloyd Wilson and Clarence F:
Norment The directors organized
at once by re-electing the following
officers:
Clarence A. Aspinwall, president;
Charles w. Pimper, vice president ana
treasurer; Charles P Ravenburg, Sec
retary: Paul Alvey, assistant secretary,
and Miss Helen HoWlson, assistant
treasurer.
President Aspinwan reported steady
Improvement and further expansion IN
business during the year. The COM
panv now has assets of $1,340, ,573.75.
against ST 1926, ,43840 year ago; $780,
600 capital, S25O,000 surplus, over s54,-
900 in undivided profits, as well as
other very substantial reserves.
Bankers Of to Pittsburgh.
Washington will send good-sized
delegation to the Eastern Regional
Conference. conducted by the Amer
lean Bankers Association, in Pitts
burgh Thursday and Friday. The
delegates from here will include George
o. Vass, vice president and cashier;
H. T. Bisselle, assistant cashier; r.
Earle Haycock, auditor, and Kenneth
F. Brooks, trust officer; all Riggs Ma
tional Bank; George o. SchWeinhaut
assistant treasurer; George NJ Fisher,
vice president, and Ralph Endicott,
assistant treasurer, Washington Loan
& Trust Co.; Wilmer J. Waller, vice
president and cashier, and Arthur j.
Linn, auditor, Hamilton National
Bank.
Mr.. Waller is a member of the A.
3. A. Committee on Banking Studies,
and Mr.. Linn will appear on the pro-
gram as one of the speakers. Title
of the Federal housing act is to re-
ceive special attention, as will all
the latest problems in bank manage
ment. The program promises to be
of unusual value.
Heads ID. C. Grocery Chain.
Isaac Jacobson, a former president
OF the District Grocery Stores, Inc,
was again elected to that office last
night at the annual election of officers
and board of directors of the organi-
cation.
David Ceppos was elected first vice
president; Jacob Siegel, second vice
president; Abraham Mostow, third vice
president; Max Hoffman, treasurer,
and David Rosenberg was unanimously
reelected secretary.
The new board of directors includes
I. L. Asrael. Harry Berman, Louis
Biskin, Frank NJ Fields, Louis r.
Fields, Louis Gitelson, Max Horen-
stein, Meyer Kaminsky, Abraham
Kaufman, Samuel Kotz and Morris
Sander.
Leach Reports Checks Delayed.
Hugh Leach, president of the Fed
eral Reserve Bank of Richmond, re-
ported today that the Middle West
floods have interfered with train serv-
ice so seriously that check collection
delays in many parts of this reserve
district are being experienced He sent
word to Washington banks that the
usual schedule of payments at Rich
mond and the Baltimore and Charlotte
branches cannot be maintained and
asks bankers to keep this situation in
mind.
w. T. Vandoren, vice president and
cashier of the Liberty National Bank.
was present at the annual dinner of