Evening star., 1937-12-05
D.C..STORE SALES.
HELD 15PER CENT
BELOW YEAR AGO
Slight Gain Over Previous
Week Seen-Hesitancy
Laid to Weather.
CHECKS AND BUILDING
EXCEED 1886 LEVELS
Monthly Review of Richmond Re-
serve Shows Bank Debts and
Auto Sales Improving.
By EDWARD c. STONE.

Retail sales in Washington depart
ment stores during the week just ended
registered practically no change from
the previous week-an increase of 079
per cent-and showed a decrease of
IS per cent from last year, the De-
partment of Commerce reported yes
terday in the weekly review covering
SO important cities. The mixed trend
was attributed largely to the warm
weather prevailing early in the week
Bank clearingS for the week totaled
$20,855,728 against $23,577,223 in the
corresponding week last year. This
drop follows gain of almost $l0,-
100000 in clearingS in the Capital in
November over last year and an in
crease of Sl3O,OOO,OOO in Cancelled
checks in the first IL months of this
year, compared with the like period
in 1886.
Building permits, including a $780,
600 addition to the Carnegie Insti-
tute. totaled $668600 against 100000
a year ago, the Commerce report
stated. November permits in the Dis
trict totaled $2,l63 225, compared with
S2,760,970 a year ago. There were
more visitors at the Smithsonian In
stitution than in the previous week.
Trade trends were mixed in the rest
of the Fifth District Retail sales were
better than year ago in Norfolk,
Charleston. S. c., and several other
cities: Baltimore also reported slight
margin over last year for the week
and also for November Other cities
Jagged behind 1886. Trade momentum
in Baltimore felt the payment of S3,-
1000 to Christmas savings club
members. The more than S7O00.00O
paid out in the Capital will have more
to do with this weeks trade because
of the date of payment.
Bank Debts Show Increase.
Financial and business conditions
in the Fifth Reserve District are pic
tured in the Richmond Reserve Banks
monthly review received here yester-
day. Debts to individual accounts in
"a cities totaled 81 l,426, $4,000 against
Sl.378, 8,433, 900 in October a year ago
gain of 3.5 per cent and an increase
Of II per cent over September
Registrations of new passenger auto
mobiles also made good showing
1916, comparing with. 1850 a veal
ago, a gain of 11,8 per cent. Retail
sales in 81 department stores in the
fifth district totaled $12,723 O6s
against $12,982,415 in October. 1886, a
The Richmond bank reports the
sale firms amounted to $5,612,398, in
comparison with s5,928,852 year ago
a decrease of 5.3 per cent.
Other business barometers were also
unfavorable. Business failures in this
territory numbered 38, compared with
27 last year, a percentage change OF
40 per cent. Liabilities were 18 per
cent lower, 1854 900, comparing with
s694,000 in the same month in 1886
Textile Mills Lose Orders.
With the exception of the West Vir-
einia coal fields, there was a severe
slump in employment in parts of the
district.
awarded in the fifth district totaled
value of building permits in 81 cities
as $5.665,078 against S5,928,O52, off 6.6
per cent. The value of contracts
awarded in the Fifth District totaled
$l5,943, 500, compared with $24,585,-
100 in the like 1886 period, decrease
OF 35 per cent.
Cotton consumption, figured in bales
was down over Is per cent in the
same month. Textile mills were
forced to curtail operations by lack of
new orders and many cancellations of
old orders, the report states.
Latest available figures reveal that
pay rolls in Washington increased &c
per cent in the number employed from
September to October and 80 per cent
in amount, the review says.
ID. C. Exchange Stocks Firm
Securities were firm on the Wash
ington Stock Exchange as the weeks
trading ended yesterday. Potomac
Electric Power 5l2 per cent preferred
stock was in demand at HE. Wash.
1ngton Railway g. Electric preferred
appeared on the board at 1O8. Bic
and asked prices were little changed
on other issues. Capital Transit CLOSED
the session with bid and y asked
Lincoln Service Corp. common ant
preferred stocks, Mergenthaler Limo
type and Peoples Drug Stores pre-
ferred are now quoted ex-dividend, tn,
dividends to be paid shortly.
The Security Savings & Commercial
Bank was added to the list yesterda,
OF local banking institutions which
are paying Christmas bonuses. Presi
dent Francis G. Addison, jr., an
nounced that the directors had vote,
a bonus for all employees amounting t.
per cent of their yearly salaries
1t has already been paid.
The District National Bank start
payment tomorrow of 10 per cen
dividend to former depositors amount
Ing to $386,80O. the funds to be dis
bursed by Receiver j. S. Wardell a
1406 G Street, N. w. AS already noted
the Seventh Street Savings Bank pay
ment begins on the same date.
The large number of North Ameri
can stockholders in the Capital wer
much pleased with the years fina
dividend declaration of 70 cents
share, to be paid December %. Thre
other 30-cent dividends have alread
= L l.