Evening star., 1937-03-07
D. c. STORE SALES
ANDCLEAR|NGSUP
SHARPLY IN WEEK
Retail Volumes Rise 17.2
Per Cent, but Remain
Below Year Ago.
CHECK TOTAL CLIMBS
TO S26,e91,4 ,446 LEVEL
Compares With $19,29S,51s Last
Week and $2o,ss4,514 in 1885.
Building Also Gains.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Department store sales, bank clear
ings and the value of building per-
mits in Washington revealed Substan-
tial advances during the past week
over the previous week, the Commerce
Department reported yesterday in a
review covering business conditions
In 81 key cities all over the country.
Mild weather and the nearness to
Easter were vital factors in the trade
situation
Sales in the Capitals department
stores were 17.2 per cent ahead of the
previous week, but 81 per cent below
the corresponding period in 1886.
Bank clearings here totaled $26.991,-
446, compared with only Sig, 9,298,-
518 in the previous week and S20,-
884,514 in the comparable week last
year.
The value of building permits dis
closed marked gains, total of $667,-
$50, comparing with $583,50O in the
previous week and the much smaller
figure of $325. 800 in the same week a
year ago. There was slight let-up
in tourist travel here. Washington
Monument visitors being fewer than
In the previous week but ahead of the
corresponding week in 1886.
In connection with the building fig.
ures, 1t may be stated that private
building in the Capital in the month
Of February reached the very hign
total of So 1888, 1856, nearly so per cent
higher than the valuation of building
in the corresponding month in 1896
and approximately 100000 ahead
of the record for January of this year
Residential construction took the lead
In the rest of the fifth district the
favorable shopping weather and the
approach of Easter had the same effect
In boosting retail sales records Whole
sale trade was greatly helped by re-
placement orders. Advance buying is
also in evidence. There have been
wage increases in several cities in the
fifth district, the increased buying
power being another major element in
filling the stores with eager Spring
shoppers.
ID. C. Securities Hold Firm.
Securities on the Washington Stock
Exchange closed the week at firm
prices, with much better trading on
Thursday, Friday and Saturday. Capt.
tai Transit stock ended the week at
15A. Mergenthaler Linotype, which
is now off from the years high mark,
moved at 5114.
Real Estate Mortgage & Guaranty
preferred stock appeared on the board
at 5A on a 6O-share turnover Both
Potomac Electric Power stocks changed
ownership, tiny sale OF the 6 per cent
preferred at 113 and small lot of the
corporations 51a per cent preferred
at 1929, unchanged from the last
previous sale.
Bond sales were confined to Capital
Traction SIS, two 500 transfers being
recorded at 941a. Bid and asked prices
on other issues were steady. Yields on
some Of these bonds and stocks are
interesting. Capital Traction IS re-
turn about $50 per cent, City & SUBJ
urban Ry. first SIS, $50 per cent;
Georgetown Gas Light SIS, 1860, 345
per cent; Washington Gas SIS, 3.48 and
Railway & Electric As, 3.45.
Yields on Stocks Also Good.
In the stock list the highest yield is
on Carpet Corp, which, selling at 25,
returns 8 per cent. Woodward &
Lothrop preferred yields $50 and Po-
tomac Electric Power per cent, 532
per cent. Many other issues are yield
ing much better than 4 per cent at
present quotations.
Members of the Washington Ex-
change were much interested in the
appointment of H. Bartlett Benedict
as an official representative to visit
the various stock exchanges through
out the country, especially all the
smaller exchanges, which naturally
will include the local mart.
Mr.. Benedict has already started to
call on the Salt Lake City Exchange,
the first to be visited. The commits
sion feels that he will learn a great
deal about the operation of the smaller
exchanges and their special problems
which may prove highly beneficial to
all concerned.
Women Bankers Become Actors.
Miss Katharine McCalmont, w. B.
Hibbs & Co., chairman of the Wom-
ems Committee of the Washington
Chapter, American Institute of Bank
ing, announced yesterday that the
committee would sponsor a fashion
show next Wednesday evening at the
Willard Hotel. A play will also be
presented, directed by Alice Whitton,
First National Bank of Alexandria
with the following cast:
Mary Backing, Vivian Stokes, Mar
garet Berckman, Eleanor Hammer
Frances Nagel, Elizabeth Ammon
Mildred O'Donohugh, Theresa Beha-
betz. Janet Gibbons, Virginia Birgfeld
Rose Royce and Blanche McNaughton
Financial District Notes.
Securities sold over the counter saw
few changes during the week. The bic
on Hamilton National Bank sock has
reached SO. The bid on Barber &
Ross bonds stood at So following the
highly favorable annual report. Prac.
tically none are being offered at any
price.
The Farm Credit Administration ha.
announced that it has begun making
emergency crop and feed loans out Of
the $50,000,000 recently appropriated
by Congress. Loans are being made
only to farmers who cannot obtair
financing from any other source ant
in q miximum amount of $400 pei
farmer.
The Baltimore & Ohio Railroad viii
receive bids March % on $500, ,00i
of az per cent securities, due Marcel
/, 1888, to March !, 1947. Equipmen
to be covered comprises 1000 gondolt
cars and 1000 box cars. Their esti'
mated cost will be $l0,033,357.