Evening star., 1938-01-26
WHOLESALE TRADE
CLIMBS IN YEAR
Fifth District Advances Are
Shown by Four Out 'of
Five Major Lines.
BY EDWARD c. STONE.


lines. the Reserve Bank Of Richmond
reported today, the improvement rang
ing as high as Is per cent.
The Is per cent advance was scored
by hardware sales, according to re-
ports from Sc firms Next came gro
ceries with a sales gain of practically
10 per cent. Drugs were third in de-
nland with sales IA per cent above
those in 1886. Shoes registered a
3.4 per cent increased. Dry goods
sales, however, were off IL per cent.
Sales in December alone were con-
slderably lower than in December of
the previous year. December sales
were also much lower than in the
previous month of November, month
in which there was great deal of
wholesale buying for the holiday trade.
Shoe business IN December was off so
per cent from November, but drugs
showed drop of only IL per cent
Stocks on hand at the end of De-
ce!nber showed wide variation. Gro
cer!es were "a per cent lower than
in December, 1886. Dry goods were
81 per cent higher, shoes 5 per cent
larger, hardware up As per cent
and drugs 6.8 per cent.
December wholesale collections in
the fifth district were unusually good
as compared with December. 1886.
Groceries collections were 100 per
cent OF receivables due at the begin
ming of the month, dry goods A per
cent, shoes 81 per cent, hardware 43
per cent and drugs 80 per cent, the
report stated.
December Retail Trade Gains.
The Reserve Bank of Richmond re-
ported this noon that retail trade in
washington and the rest of the fifth
district in December was l per cent
better than in December. 1896. In
Washington department store sales
were 0,2 per cent ahead of the previous
December.
Sales for the full year 1887 we're also
e. per cent ahead of the previous year
IN the Capital. against 81 per cent for
the entire district. Stocks of goods IN
the stores here at the end Of Decem-
end Of December, 1886. and 25 per
cent lower than on November 80, 1887
During the year stocks were turned
4.452 in Washington stores, compared
with 4224 times for the whole fifth
district.
Retail store collections in the Cap
ltal were 277 per cent of the amounts
due, against over 80 per cent for the
entire area. Richmond made the best
collection record.
1920 Farms Sold in Year.
There were 1920 farms sold dur
Ing 1897 by the II Federal Land
Banks. at an aggregate selling price
of S37.s05,652, compared with 1903
farms at total price of S35, 5,227.788
the year previous, according to
statement by Deputy Governor F. F..
Hill Of the Farm Credit Administra-
ton.
Cash down payments on farms sold
bv the land banks last year averaged
about % per cent of sale price COM
pared with 10 per cent in 1886. Mr..
Hill said. Farmers in the New Or
leans district-Louisiana Alabama
and Mississippi - purchased 1852
farms at ss180O56.
The second largest number of farms
was purchased in the Pacific North
west, 1892 farms at s4,434727.
Changes in Bill Advocated.
President Francis E. rockingham
Gays that the Board of Governors of
the Investment Bankers Association
sees notifications in the Maloney bill
introduced in the Senate, as necessary
to provide effective regulations among
over-the-counter brokers and dealers
The board registered its approval of
the principle of control, but appointed
a special committee to confer with
Senator Maloney and his subcommit-
tee, with the Securities and Exchange
Commission and with other organiZa-
tlons to cooperate in an endeavor to
flnd more workable method of regu-
latlng counter transactions. The COM
mlttee will report to the Board of Gov
ernors following the various confer
enceS.
Tax Analysis Distributed.
The American Retail Federation,
1927 K street NV, is distributing a
bulletin analyzing the effect of the
undlstrlbuted tax on retailers. The
bulletin presents the proposed re-
visions of the revenue laws.
The recommended changes are sum-
married and examples of the proposed
changes presented in detail. Several
pages in the bulletin are devoted to
what the association believes would be
the probable effects of these proposals
on retail corporations The bulletin.
as sent out by A. L. Raffa, gives some
most interesting views on an ex-
tremely controversial matter, made
especially timely because of the hear
ings going on in Congress.
Bank Reports in Booklet,
Reports of the condition of 10 WASH
mgton banks and trust companies are
included in a booklet published bv
The Evening Star since the recent call
by the controller of the currency,
These reports appeared in The Star
following the call.
The booklet gives the best available
analysis of the present banking situ-
alton in the Capital, total deposits
in the banks now standing at 1922
65l 1854, a gain of more than sl3.-
100000 in six months, although lower
than year ago, when aggregate de-
posits were more than 1894, 1000, 900.
The publication also states that
deposits in the banks here made a
gain of more than $1O0,000000 in the
four-year period ending December 81,
1887. The booklet is available with
out charge on request to the advertis-
ing director of The Evening Star.
Previous similar issues have been in
wide demand.
Heard in Financial District.
L. Clark Brown of Brown, Goodwin
L. Co., president of the Bond Club
of Washington, reports wide interest