Evening star., 1937-11-21
Gain of 14.52 Per Cent
Leaves Volume 7.8 Per
Cent Under Year Ago.
CLEARINGS SHOW RISE
WHILE BUILDING LAGS
Baltimore Shopping, Aided by
Cooler Weather, Forges Ahead
Of Week Ago and Last Year.
BY EDWARD C. STONE.

While retail trade in Washingtons
department. stores showed an increase
during the last week of 1452 per cent
over the previous week, unseasonably
warm weather retarded buyer interest
20 cause decrease of 78 per cent un-
der the like period year ago, the
Commerce Department reported yes
terday.
Bank clearings in the Capital were
s2head of last year. the weeks total
standing at s26,273,6 ,624, in comparison
with $25,ll6.227 a year ago. While
clearings scored a gain, building per-
mits were much lower, $l53,5OO, COM
pairing with $8l6, 500 at the same time
In 1886. The number of tourists in the
city was slightly under the mark year
ago.
Other cities in the Fifth District,
with the exception of Baltimore, re-
ported trade was not as good as last
year, the warm weather being assigned
as the chief cause. Baltimore was aided
by the return of cooler weather, retail
business comparing favorably with re-
cent weeks, as well as a year ago.
There was lively demand for seasonal
goods. and the Commerce reportStated
that the Christmas shopping season
was getting under way earlier than
usual
Regarding the trade report for
washington, it should be recalled that
Mid-November sales last year were ex-
ira good, the records being we'll ahead
OF the previous year, a hard mark to
equal
Store Collections Slow Up.
Payments on open-credit accounts
receivable by the Nations department
stores were made at lower rate dur
Ing September, 1887, than during Sep
tenber, 1896, according to the Bureau
Of Foreign and Domestic Commerce.
This decline represents the fourth con-
secutive time that the collection ratio
on these accounts for any one month
has been lower than the ratio for the
corresponding month of the previous
year.
It is the first time that consecutive
monthly decline of this length has
been recorded since 1884 when the
bureau started to present data on COL
lection percentages. The collection
rates on these accounts were 42.5 per
cent for September and 428 per cent
for September of last year.
On installment accounts the collec-
ton ratios were 3.6 per cent lower in
September, 1897, than in September
last year, and were slightly lower than
for August this year.
Five Of the IL Federal Reserve Dis
tricts reported lower collection per-
centages on open accounts for Septem-
Der. 1887, as compared with September
1886; six districts showed increases,
While Richmond showed no change.
d. C. Exchange Trading Light.
Potomac Electric Power preferred
Issues drew all the attention in week
end trading on the Washington Stock
Exchange. The corporations per
cent preferred stock moved at 113la on
Q single sale, while three small lots of
81 per cent preferred changed owner
ship at HE.
Capital Transit stock was quiet, clos
ing the week with bid and 912 asked.
The last sale took place Friday at 81a.
The final bid on the bonds was 68, with
u asked Bid and asked prices on
ether exchange issues changed very
little during the week The same was
true Of local securities sold over the
counter.
Investment dealers here expressed
regret yesterday that the forthcoming
Potomac Electric Power 81 per cent
bonds have already been pledged to
an insurance company. They would
have been very easy to sell.
Paper Plant Tour Arranged.
The first plant visitation on this
years schedule of Washington Chap
Ter, National Association of Cost Ac-
eountants, will take place Tuesday
afternoon at 2 o'clock, when members
will meet at the plant of the District
Of Columbia Paper Co. in George
town to study at first hand the
process Of paper manufacture. After
Inspection of operations, an explana-
don OF the cost accounting procedure
In the plant will be given by Herman
r. Harrigan, general manager of the
oompany.
These plant visitations are arranged
10 enable accountants to become ac-
quainted with manufacturing methods
and accounting procedures in repre-
sentative industries. Several such
field trips have been scheduled for the
winter season by Robert w. King. di-
Sector Of programs for the chapter.
Heard in Financial District.
George M. Rowzee, jr., chairman Of
the Entertainment Committee of
washington Chapter, American Insti-
tute OF Banking, announced yesterday
that the winter dance for junior bank
srs and guests will be held at the Will
lard Hotel on Saturday, December 4.
Other members Of the committee as
sisting in the arrangements include:
Donald Hollingsworth, Second Ma,
tional; James Bruen, w. B. Hibbs &
Co.; Stephen o. Porter, Riggs Ma
tional; William Offutt, Washington
Loan & Trust; Ralph Wittendorf,
American Security & Trust; George
Gallagher, Lincoln National, and
Frederick A. Daum, Security Savings
4s Commercial.
Assets Of the IL Federal Home Loan
banks increased from $149.s97, ,180 to
4226, 1921 ,045 in the IL months from
october 81, 1896, to october 81 this
year. 1t was announced yesterday by
Preston Delano, governor of the Home
Loan Bank System.