Evening star., 1937-06-20
D. c. STORE SALES
BELOW YEAR AGO
IN WEEKS SLUMP
Department Store Volumes
Drop ID Per Cent From
Previous Period.
UNLISTED BANK STOCKS
HOLD AT FIRM LEVELS
Daily S. E. c. Report Discloses
Little Fellow Buying Shares
on Present Market.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Retail trade in Washingtons de-
partment stores for the week ending
last Wednesday was TIT per cent
below the corresponding week year
ago and more than II per cent below
the previous week, the Commerce De-
partment reported yesterday in report
ing conditions in 81 key cities. Bank
clearinngs, however, were higher than
last year, S27,78l ,542, compared with
l626,186, ,549. Building permits issued
In the Capital were valued at S349.-
800, compared with $4,000 in the
same week in 1896. There were more
visitors at the Smithsonian 1nstitu-
ton than year ago, but not as many
IS in the previous week, the report
said.
Trade tended to slow down in the
rest OF the fifth reserve district, COM
pared with the previous week, but
maintained levels about equal to last
year. Wholesale activities, the re-
port added, were characterized by sub
stantial replacement orders.
Baltimore reported improvement
over the like period last year. whole
sale trade scoring an especially good
advance. Bank clearings were u
per cent better than last year and
building permits also up,
Charleston, S. c., led the dis
trict with 20 per cent jump in retail
trade over the like 1886 week, the
report disclosed.
Unlisted Bank Stocks Firm.
While bank stocks listed on the
washington Exchange have been hold
ing up particlarly well recently. the
unlisted stocks of other Washing
ton banks have also been firm.
Latest reports show the bid on
Anacostia Bank stock at so, Colum-
bia National at 200 and East Wash
ington Savings Bank at 1412. Hamil-
ton National Bank stock is being
quoted at "a bid and 36 asked.
The bid on Security Savings and
Commercial stands at 125. For Ma
honal Metropolitan stock there is quite
. a wide spread, 24o being bid and
275 asked. The latest bid on Union
Trust Co. stock is 100, with the stock
offered at 112.
The week end reports on other
unlisted securities in the Capital show
that these issues have also been behav-
Ing we'll in the face of so much SELL
Ing on the New York Exchange.
Small Traders Buying Stock.
Daily odd-lot trading figures reported
by the Securities and Exchange Com
mission indicate that the so-called
, "little fellow is buying stock
During the week ended June II he
put s30,260251 into the market and
took out s26 ,299, ,O82, making net pur-
chases Of s3,96l,l69 the commissions
first weekly tabulation of odd-lot trans
actions on the big board shows.
Purchases exceeded sales each day
II these purchases, comments the
Wall Street Journal, represent stock
that is being put away in strong boxes,
bureau drawers or stockings, there is
no question that their result would be
to reduce floating supply of stock, with
an ultimately Strengthening effect on
security prices. But there is no means
OF knowing whether the stocks pur-
chased are being left in brokers' names
which would leave them as part of the
floating supply.
Security Storage Dividend.
Directors of the Security Storage Co.
nave declared the regular quarterly
dividend OF SIPS share on the capital
stock, payable July 10 to stockholders
OF record at the close of business july
8, the books to be closed between these
dates, Secretary c. P. Ravenburg an
Aounced yesterday.
Ihe First BoSton Corp, which main
talns Washington office, has declared
dividend of so cents per share. nav
hoie June 20 to holders of records
June IL, 1t was announced Yesterday
Inc board OF directors of the Morris
Plan Bank OF Baltimore, which is
celebrating its silver anniversary this
year, has declared regular per cent
dividend and a per cent extra nav.
aoie June 80 to stockholders of record
as OF June 20.
Heard in Financial District.
chester G. Davis, member of the
feoeral Reserve Board of Governors.
Will speak at the annual convention
OF the Montana Bankers Association,
June IS. on Public Opinion and the
Credit System" Leo T. Crowley
Chairman Of the Federal Deposit In
surance Corp, will address North
Carolina bankers at their annual con-
vention In July.
The Securities and Exchange, Com
emission announces that the New York
Telephone Co.'S $25,OOO,OO0 issue of
81 per cent refunding mortgage bonds
will be underwritten by Morgan, STAN
ley e. Co., $4,000 900; Kuhn, Loeb e.
Co., $4,000,000; Kidder Peabody &
Co., s3200,000; Lee Higginson Corp,
$l.600,000; First Boston Corp, $780,
600; Brown, Hartman g. Co.. Inc,
$2,600,000; Harris Hall g. Co., S40O 900,
oveI % .