Evening star., 1937-03-21
WEATHER CHECKS
RETAIL UPTURN
IN CAPITAL AREA
Weeks Gain of 1.3 Per Cent
Leaves Total II Per Cent
Under 1886.
BANK CLEARINGS SOAR
TO s27,OO1,16O MARK
Only S20,737,296 Recorded in
Same Week Year Ago-Build-
ing Total Rises Sharply.
BY EDWARD C. STONE.

Hit rather hard by Spring weather
eaprices, retail trade in Washington
department stores during the last
week scored a gain of only 1.3 per cent
over the previous week and was of II
per cent from the same week in 1886
Snow, sleet, ice and rain slowed up
trade and also made it spotty, some
stores reporting brisk Easter business
against a slow demand for Spring
goods in others, the Department OF
Commerce reported yesterday.
The weather failed to bother Wash
ington bank clearings, which totaled
1901 ,16O, as compared with S25, ,l46,-
Bill in the previous week and only
S20,737,296 in the same week in 1886
Building permits were also up sharply
totaling S812,l10 for the week ending
March II, against S403,300 for the
preceding week and $512,200 year
ago Tourist business slumped.
Better weather this week, however,
will bring Easter trade we'll ahead Of
last year. The last week saw trade
slow up some in the rest of the fifth
Reserve district, although it averaged
better than the same week in 1886.
Richmond and Norfolk reported highly
favorable conditions. Some difficulty
was reported by Baltimore wholesalers
In obtaining prompt delivery of orders
from manufacturers.
Charleston, S. c., reported the best
retail sales, gain of Is per cent over
last year and 5 per cent over the
previous week.
Lanston Monotype Reaches Par.
In an unusually busy session of the
Washington Stock Exchange yesterday
LanSton Monotype stock reached 100
for the first time in years, after closing
a week ago at 99l2. The new high
was reached on a flve-share sale,
The market opened with 10 shares
of Potomac Electric Power per cent
preferred stock moving at ll312, I'M
changed. Later the corporations 512
per cent preferred came out at 1l312
on a 20-share turnover, making the
price exactly the same for the two
stocks.
Washington Railway g. Electric pre-
ferred stock was in demand, four To-
share sales taking place at 1892, OH
IA. Twenty-Five shares of Columbia
Title ms. Co. appeared on the board
at IS. Mergenthaler Linotype was un-
changed, three l0-share sales being
recorded at 5012.
The only bank stock out yesterday
was National Bank of Washington, a
single share commanding 1875, the
high for the year and unchanged from
the last sale Five shares of Wash
ington Gas Light stock changed hands
at 80 against the last previous trans
fer at 8584. The days only bond
sale was in Washington Railway g.
Electric As, one $1,000 bond bringing
l06
Repla acements Big Trade Factor.
In his monthly letter sent to the
Washington Association of Credit
Men, Harry H. Heimann, executive
secretary Of the national organization,
says that despite the labor difficulties.
the aftermath of the foods, the Su-
preme Court issue, and a general un-
easiness about the future, business is
moving right along. Needless of these
disturbing elements, business recov-
cry continues because replacement
needs are urgent. Although undesir-
able, in some ways these uncertainties
have wholesome influence since they
act as a governor on potentially too
rapid recovery.
He says that a portion of current
purchasing is in advance of needs, or
ders being placed and early deliveries
urged because of a fear that labor
difficulties may interrupt the normal
flow of goods. Anticipating such cir
cunstances, manufacturers, whole
salers and retailers are preferring in
ventories somewhat larger than nor
NAL. In conclusion, he says:
Il feel that at this time, unknown
to many people, there is developing a
consumer consciousness relative to in
creasing prices that may well bring
on strong buying resistance on the
part Of consumers, to the point where
the recovery movement may be tenn
porarily checked in later months.
THE essential thing in any increase
In wages or other charges is to bring
about as quickly as possible an alb
sorption of these charges by overcom-
ing them through greater efficiency
and thus making available units Of
goods at nearly the same price level
as existed before the change"
Dinner Speakers Announced.
Final plans were completed yester-
day for the dinner to be given at the
Shoreham Hotel tomorrow evening by
Washington Chapter Chartered Life
Underwriters, in honor of the tenth
anniversary of the founding of the
American College of Life Underwrit-
ers. More than l30 members and
guests will attend.
The speakers include DR.. David NC
Cahan, dean of the college; Robert v.
Fleming, president of the Riggs Ma
tional Bank; Attorney Stanton c.
Peele and James A, Councillor, past
president of the Institute of Certi-
fed Public Accountants. James A.
De Force, chapter president, will pre-
side. The guests will include many
men prominent in the city's economic
NO u,bo ane not enca ped in life in