Evening star., 1937-08-09
UPTURN GENERAL
N FIFTH DISTRICT
Charfeston's 14 Fer Cent
Gain in Week IS Best &ark
Reached in This Area.
BY EDWARD c. STONE.

SolIlkldl dtlNt LIZ ultS llOlll lHG SOlIl-
merce Departments weekly review of
trade conditions show that Charles
ton, S. c., led the fifth district in sales
gains last week with an advance of IA
per cent over the same period year
ago. Washington's gain was just un-
der per cent although per cent
better than in the previous week.
That the southern part of the fifth
district should show further prosperity
Is indicated by an announcement that
an allotment of $288,O0o has been
made for P. w. A. projects for the first
six months of the present fiscal year
at the Charleston Navy Yard. Al
though comparatively small amount.
yet it will help the present upturn.
High lights from the report show
that both bank clearings and debts
we're higher in Baltimore than in the
previous week and that buying for Fall
requirements is satisfactory" Tenn
peratures have prolonged the demand
for Summer goods.
Norfolk reports that the upward
trend in the wholesale hardware de-
mand continued in July when business
was approximately 30 per cent ahead
OF last year. Coal business at Hamp-
ton Roads advanced sharply last week
and bank debts were better than in
the previous week or the same period
a year ago, although lower cotton prices
slowed up the wholesale dry goods
market
Details from the Commerce report
reveal that other cities in the fifth
district are generally registering i'm
provement over the same time last
year.
Income Advances Forecast.
The Brookmire Economic Map,
which pictures sales prospects and
the credit outlook. stresses the substan-
tial rise indicated for the farmers for
the rest of the year and declares that
the consumer income outlook on the
whole points to an active Fall season.
Brookmire estimates that consumer
income in Maryland in the last six
months of this year will be Is per cent
better than year ago and 81 per cent
better than the average for the same
periods in the past three years
Income IN Virginia is expected to be
II per cent ahead of the last half of
1886 and % per cent better than the
average in the final six months of the
last three years. In West Virginia
probable income is expected to be 20
per cent and SO per cent better than
in the comparative periods. The fore
cast rates the outlook for Washington
as fair
Breathing Spell Nearing End.
Despite rather divergent trends in
several lines during the last few weeks,
practically all important business sta
tistlcs continue to record substantial
gains over year ago, says the United
Business Service in its report out today
Unusually active operations in the steel
and other heavy industries are tending
to offset curtailment of automobile
and textile output Somewhat less
than seasonal gains in carloadings are
being balanced by near-record electric
power production.
The sharp drop in motor car output
and present unfavorable comparisons
with a year ago in this industry are
almost entirely due to the three-Week
inventory and vacation shutdown Of
Ford plants. Textile production-par
ticularly of cotton goods-is still suf
fering from the effects of heavy for
ward buying earlier in the year, al
though some divisions are becoming
more active.
1t is evident that, while general ac-
tvity has declined somewhat from the
Spring peak--a6 was to be expected
the recession has been not much more
than seasonal The service concludes
that August will mark the low point
of the Summer breathing spell, and
that a substantial upSwing is indi-
Gated by Fall.
Peoples Drug Earnings Rise.
Net sales of Peoples Drug Stores,
Inc, for July totaled S1,868,232,
against sl.732,52l in July. 1886, an
increase of S135 I'll, or 78 per cent.
For the first seven months of this
year net sales amounted to s12,772,-
842, the Washington head Office re-
ports, in comparison with S11 ,599,873
an increase of S1,172 ,969, or 10l per
cent. Sales in July showed a better
percentage gain than in June, when
business was Sc per cent ahead of the
same month a year ago.
Maryland Gas Receipts Gain.
Gross receipts from the cents per
gallon gasoline tax in Maryland in
the first seven months of 1887 totaled
S5.747,97l, an increase of S726,183 over
the S5021,788 collected in the same
period of the preceding year. accord
ing to State Controller William S.
Gordy, jr. Receipts for July were
S979,653, against S870833 in July,
1885
The State of Maryland will receive
bids tomorrow on an offering of
S3408,0O0 ga per cent general con-
struction bonds. The week promises
to be quiet as far as new bona issues
actually placed on the market are
concerned.
Vacation Period Continues.
Corcoran Thorn, president of the
American Security & Trust Co., is
taking his vacation, at present being
at the Summer place in New Hamp-
shire. He is quite likely to cover
lot of other territory when he gets to
looking over the motor maps.
H. Arthur Lamar, of the trust de-
partment Of the Washington Loan g.
Trust Co., who is an ensign in the
District of Columbia Naval Reserve
Corps, sails on Saturday aboard U. S.
S. Badger for the annual cruise with
the Atlantic Training Squadron. St.
Thomas, Virgin Islands. will be the
rendezvous of the fleet, which will re-
turn about September /.
Paul P. Rodler, partner in w. B.
Hibbs & Co., was back at his desk
today after two-Week vacation.
Heard in Financial District.