Evening star., 1937-03-05
TRADE IMPROVES
IN FIFTH DISTRICT
Holds Well Above. Year Ago
Despite Drop From
December.
BY EDWARD C. STONE.

Trade in the fifth Federal Reserve
district in January was materially
above January, 1886, although season.
ally below December, the Richmond
Reserve Bank reported today, total
sales in So department stores being 9.3
per cent better than a year ago and
business in So wholesale firms Isl per
cent higher than in the same month
last year.
Debts to individual accounts in "a
cities showed an advance of 20.7 per
cent, the number of business failures
during the month increased, but the
liabilities involved were lower. Cotton
consumption jumped II per cent, but
the amount of tobacco marketed was
not as large as year ago.
Today's report shows that in 81
cities 1853 building permits were
issued, against only 1,421 in January,
1886, a gain of 38.1 per cent. The
value of these permits was $5672,7l7.
which was a notable rise of 37.2 per
cent.
Bituminous coal production was
practically the same as in January a
year ago. In speaking of business
conditions. the report adds that Janu-
ary was one of the wettest months on
record throughout the district and
near the end of the month several
cities in West Virginia suffered Sc
verely from flooded rivers, but in spite
of these adverse conditions business
showed no signs of slackening the
advance which has been in evidence in
recent months.
At the Reserve Bank all discounts
for member banks were paid up be-
tween the middle of January and
the middle of February and there was
a seasonal decline in Federal Re-
serve notes in actual circulation. A
small increase occurred in all other
loans" which are largely commercial
or industrial at this time of year.
Demand deposits showed decrease,
which was largely offset by an increase
in time deposits.
Sales and Collections UP.
Net sales and collections in the
manufacturing field are improving
steadily, according to a joint report
by the National Association OF Credit
Men and the Bureau OF Foreign and
Domestic Commerce. In January
there was a continuation of gains in
sales and the higher rates of collec-
tionS recorded for each month in 1886
as compared with the like months in
1885.
Total net sales of group of 513
manufacturers throughout the country
in January, 1887, registered an in
crease of % per cent from January,
1885,
Eight of Is important industrial
groups revealed higher average col
lection percentage for January, 1887,
than for January, 1886.
The leather products group regis
tered the greatest relative increase
in collections over this period, the
report states.
Equitable Scores New Record.
David S. Bethune, manager of the
Washington agency of the Equitable
Life Assurance Society of the United
States. was given happy surprise
on his return from a months trip to
the Pacific Coast. During February
the members of his agency conducted
campaign in his honor, writing more
than 300 applications for over 81 .000,-
900 in new insurance. This represents
the largest volume of business ever
written during the month of Febru-
ary by the local Equitable Office.
The IS members Of the staff gave
luncheon to Mr.. and Mrs. Bethune
at the Hay-Adams House commem-
Grating the general agents twenty
sixth anniversary with the company.
He was presented testimonial signed
by every member of the staff.
Stationery Sales Increase.
The National Stationers' Associa-
ton, located in the Investment Build
ing, reports that wholesale business in
January was 1407 per cent better
than a year ago, and that district
No. 4, which includes this city, Mary
land Virginia. Pennsylvania, Delaware
and New Jersey, reported an increase
of more than "a per cent compared
with January, 1886. The territory in
cluding Wisconsin and Illinois came
next with 20 per cent pickup. The
figures we're based on reports from
1872 firms.
The value of retail sales of new au-
tomobiles in January was 29 per cent
higher than in January, 1886, and "a
per cent greater than in January,
1885, the Commerce Department re-
ports Sales declined from December
to January, daily average sales being
off about 81 per cent, preliminary
estimates show.
d. c. Bankers Council Meets.
The Council of Administration of the
meet this afternoon following the
weekly luncheon at the Willard Hotel
and take action on the report of the
special committee named to select a
subject for the essay contest arranged
for members of the American 1nSti-
tute of Banking. Writers of the three
best essays will be rewarded with trips
to the bankers convention at White
Sulphur Springs. w. Va, in May.
More than 500 members and guests
are expected at the annual dinner of
the District of Columbia Building &,
Loan League which takes place to-
morrow evening at the Mayf1ower
Hotel This will be a new record for
attendance.
Heard in Financial District
w. M. Rhodes, after an absence OF
10 years from Washington, has re-
turned to become vice president and
general manager of Whiting, Herrity
& Rhodes an elevator sales and main-
tenance firm. 1108 Ninth street north
west, which has recently been re.
organized and incorporated. He wa,
with the Otis Elevator Co. for 80 years
and during the World War was with
an outfit which laid mines across tht
North Sea, as an elevator expert.
Rejecting a substantial growth ir
demand for service from all classes o.
customers, the consolidated opera.
fjo,,c 0f North American Co y,r0d,Icef