Evening star., 1937-08-03
BEST FALL TRADE
IN 8 YEARS DUE
Merchants Predict Sales
Gain of 10 Per Cent Over
1886 Volume.
BY EDWARD c. STONE.


The best Fall trade since 1929 was
predicted today by the National Dry
Goods Associations Washington office
as the result of a Nationwide survey
OF the outlook.
Merchants in SO cities expressed
agreement in the poll made public
bv Charming E. SWeitzer, managing
director, that prospects for a resur-
gence of business activity were highly
encouraging. Collectively they estl-
mated that retail volume in the de-
partment store field would show an
advance of approximately 10 per cent
for the months of September, October
and November, as compared with
these three months in 1886.
A 10 per cent gain in sales would
reflect a continuation of steady,
gradual expansion of retail volume
four years and would place depart
ment store volume at point at least
equal to that of the Fall of 1880 and
very likely the best in eight years,
MI Sweitzer asserted
Favorable Factors Predominant.
The merchants saw only a few
clouds obscuring the probability of
a healthy Fall business throughout
the country, and the most predoml-
nant factor in this direction was the
possibility of extended labor disturb
snces, which they felt might create
much temporary unemployment and
through loss of wages detract from
the country'S purchasing power Ap-
proximately 64 per cent of the stores
reporting saw labor troubles as a
threat to Fall trade
Favorable factors outWeighed those
Which were advanced as possibly
handicapping Fall sales increases.
Some 48 per cent Of the stores said
that better business. employment and
wages all around would carry retail
trade forward. With stores in the
farm areas almost unanimous in as
sent. 40 per cent of those reporting
looked for gains in farm income re-
sulting from bumper crops in most
sections and high farm prices to
speed Fall retail business.
Gains in the building field par
ticularly in homes, we're considered
favorable item by l25 per cent, and
10 per cent considered the prospect
of less labor disturbance throughout
the country as likely to be a favor
able factor.
Insured Bank Total Drops
A net increase of about S21 900, 900
In its surplus during the first six
months of 1887 is announced by the
Federal Deposit Insurance Corp. in the
semi-annual report of the Board of Di-
rectors Of the corporation to insured
banks as of June 80 1887. Income
for the period of sle,336,829 from as
sessments and s4,437,985 earned on
securities is reported. as against ad-
mlnistrative expenses and deposit in
surance losses and expenses amount
ing to S2,855 300.
net decrease of 86 in the number
of insured banks occurred during the
six months ended June 80. 1887
chiefly as result of definite programs
for the elimination or consolidation
of weak or insolvent institutions. Off
setting the 38 banks admitted to in
surance during the period were 81
suspensions, l02 mergers, absorptons
or voluntary liquidations and one
termination of insured status.
81 Per Cent Building Jump.
Retail trade in the fifth Reserve dis
trict in the past week is estimated by
20 ,,ly of ioI,
been per cent ahead of the same
period last year. The level of the
previous week was also maintained.
Construction figures for the fifth dis
trlct in June, just reported, were 81
per cent above that month last year,
the increase being due chiefly to Gov
ernment contracts let in the District of
Columbia.
Virginia cigarette factories are work.
Ing at top speed. Figures for the first
six months of 1887 showed a record
output for the State. and July produc-
ton has not tapered off.
Southern Increases Stock.
The Southern Railway has notified
the New York Stock Exchange of a
proposed increase in authorized COM
mon stock from 100000 shares of
500 par value to 100000 shares of
no par value, each present share to be
exchanged for one new share
The Savings Bank of Williamsport,
Md. has been authorized by the State
bank commissioner, Warren F. Ster-
ling, to release so per cent of its old
depositors' guarantee fund to assent
Ing depositors under a supplemental
agreement entered into by the bank
and its individual depositors.
Washington brokers are more cheer
1ul on the stock market and general
outlook than they have been for many
moons. They base much of their op-
timism on an estimated crop income
for the farmers, which will be by far
the largest in years. This will give
tremendous impetus to buying power
all over the country.
Financial District Gossip,
William D. Hoover, chairman of the
board of the National Savings & Trust
Co, is basking in the mountain air
of New Hampshire while on his vaca-
ton.
Raymond G.. Marx, controller Of the
Riggs National Bank, left here today
for his annual vacation at Salt Pan
Bay on the Severn River.
A. Chester Flather, one of the man.
ayers of the Washington Office of G
M. P. Murphy & Co., is at Connect
cut resort for his vacation.
Paul P. Rodler, one OF the partners
in w. B. Hibbs & Co.. is another
broker taking a vacation
Audley A. P. Savage, auditor of the
National Savings g. Trust Co., was
back at the bank today after vaca-
ton at New Jersey resort.
Secretary Donald w. Larson of the
District Bankers Association has left
the Capital for two weeks vacation
in Minnesota.
General Motors stockholders here