Evening star., 1937-12-13
HOLIDAY EXPRESS
SHIPMENTS Jump
Business in Capital Now
Reported Five Per Cent
Ahead of Year Ago.
By EDWARD C. STONE.

out OF washington are now running
about 5 per cent head of the volume
being handled at the same time a
year ago, c. w. Turner. division
superintendent of Railway Express
Agency, Inc, said today.
Santa Claus is going to be swamped
with Christmas packages during the
remainder of the holiday season, he
added. In the first few days of De-
eember merchants in the Capital COM
planned about Christmas trade being
slowl They are not complaining now,
In fact are expressing delight over the
holiday rush that has developed, he
continued.
Supt. Turner said today that
he had received orders from the
headquarters of his company to pre-
pare for the biggest Christmas business
In years There is reason to believe,
he continued, that the American
people have more money to spend this
year than usual and are opening their
purse strings wider than ever before.
Gift-giving has long been a fixed
habit.
While shipments Of Christmas goods
are being rushed along in enormous
quantities, business from Florida has
also increased in the past few days,
MIR. Turner stated. There has been a
tremendous increase in shipments of
citrus fruits to Northern. points.
Railway Express employees are join
ing in the usual plea to the public to
shop early and ship early" even
though express service is geared to
high operation. To avoid disappoint-
ments, holiday shipments by express
will be delivered on Christmas day,
even those not arriving in town until
Christmas morning, Mr.. Turner an
nounced.
Farm Income Receipts Higher.
The Agriculture Department reports
that for the first 10 months of this
year the South Atlantic States re-
corded a 13 per cent increase in re-
ceipts from sales of principal farm
products and total receipts, including
Government payments, were 16 per
cent greater during this period.
South Carolina was the only State
in this region to show a decrease in
receipts from sales of principal farm
products during October, as income
from cotton declined below last year.
In each of the other States larger re-
ceipts from tobacco, apples and citrus
fruits in Florida contributed chiefly
to the gains in receipts. For the
region as a whole income from crops
was IA per cent higher than in October,
1886, and income from live stock and
live stock products was 2 per cent.
greater.
The South Atlantic States include
Maryland, Delaware, Virginia, West
Virginia, the Carolinas, Georgia and
Florida.
Fifth District Trade Notes.
Washington's gain of IS per cent in
retail trade last week over the pre-
ceding week was the best advance
reported by any of the largest cities
in the country. Wilmington, Del, re-
ported A per cent advance.
Norfolk reported retail sales ahead
OF the previous week and also the same
week a year ago. Wholesale trade
In November declined about 10 per
cent.
Charleston, S. c., reports that the
Charleston Navy Yard has received a
$4,500,000 contract to build a de-
stroyer. Trade was slower last week.
Wholesale dry goods business in
Baltimore was somewhat below last
year, the weekly report to the Com
merce Department stated.
Reserve Board Aids BUYERS,
An important ruling which opens
the way for banks to finance directly
all types of consumer purchases and
to rediScount the paper arising out
OF such financing, with Reserve banks,
has been announced by the Board of
Governors of the Federal Reserve Sys-
tenn.
Under the new ruling, a member
bank may accept the note of "a
shareholder who uses the proceeds to
purchase household equipment such
Is radio and furniture" with assur-
ance that the note will be discount
able with the Reserve bank provided
It meets the 90-day maturity quail
f1cation, the board said.
Thus, the ruling opens the way
for a member bank , finance buy
ing on time by private purchases of
. wide array Of non-income produc-
Ing goods such as automobiles, radios,
furniture and refrigerators with the
assurance that the private purchasers
notes can be discounted at the Re-
serve bank. Member banks, with the
Reserve system behind them, are in
q position to finance private buying
on time.
q. S. Savings Bond Sales Mount.
United States savings bonds cash
sales passed the $1,000, 100000 mark
last Saturday, reaching a total of
$1,000, ,566, 18l, according TO Secretary
OF the Treasury Morgenthau The in
vestment represents sale OF approx
tmately 100000 bond units, which
were bought by about 100000 people.
According to an announcement by
the Secretary. the annual sale of saw
tngs bonds has increased steadily. The
sales for the 10-month period in which
these bonds were sold in 1885 amount
ed to $259, ,000,824 maturity value; in
1886, $473,515,l4 and to date in
1887, $601, ,572,277.
Bond Outlook Called Brighter.
This weeks bond review by j. S.
Bache & Co., New York Stock Ex-
change firm, says the offerings of
United States Treasury, West Virginia
Pulp g. Paper and New York State
bonds provided a test of market con-
ditions, and the successful manner
In which they were accepted, affords
some encouragement as to underlying
investment demand. When signs OF
stability in general business appear
the flotation of better-grade bonds
correctly priced, should not be difficult
the review asserts.
Today's Trading on Exchange.
Mergenthaler Linotype opened the
weeks trading on the Washington
Stock Exchange with 50-share sale
ex-dividend, at Is. Another sale o1