Evening star., 1938-04-03
CAPITAL ACTIVITY
HOLDS Up WELL
|NF|RST QUARTER
Retail Trade Maintains Hiuh
Levels Despite Moderate
Declines.
u. S. PAY ROLL STABLE
IN RECENT MONTHS
Housing Loans Gain-Sales of
New Automobiles Show Pickup
of 70 Per Cent for March.
BY DONALD B. HADLEY.

Washington business remained at
high levels in the first 1888 quarter
despite some moderate declines from
1887 records. January and February
department store sales were only g
per cent under the same 1887 months
and were about l3 per cent ahead OF
1929 levels. March showed an i'm
provement with the approach OF
Easter.
Last year. the city's population
reached 627.000. compared with 6l9.-
600 in 1886, $4,000 in 1895, $50. .OOC
in 1884, $4,000 in 1888 and i92, ,00C
in 1880. AS the District of Columbia
itself includes only 1924 square miles
much OF the growth here has spread
out into adjoining Maryland and Vir-
ginia sections of the metropolitan
area
The entire metropolitan area Is
estimated to have a population OF
$4,000. all within a 20-mile radius
OF downtown Washington.
t. U. S. Pay Roll Remains Stable.
The major pay roll, which comes
from the executive branch of the
Federal Government, has been ex-
tremely stable in recent months. The
January total of Sl9,948.3l5 for 49,
1873 persons was only slightly below
the S20,225.3l3 for 1l4,398 in De-
cember. 1887, and was we'll above
totals for any OF the other previous
six months.
Including other branches in addi-
ton to the executive, the total Fed
eral pay roll is keeping close to s23,-
100000 month while the total
private pay roll is averaging around
SIG, 100000 a month.
The grand total pay roll of both
Government and private business,
$40 100000 month. is proba bly, the
chief reason why Washington business
men may be disappointed by setbacks
from time to time, but maintain
strong confidence in underlying con-
ditions.
Housing Loans Increase.
After three years of spectacular
building gains. construction slackened
toward the end of 1897 and in Janu-
airy OF this year, but in February signs
Of an upturn appeared and applica-
tions for loans under the Federal
Housing Act. indicate the improve
ment will continue in the spring
months.
Building in the metropolitan area
provided quarters for 1888 addi-
tional families in 1885, 1886 and 1887.
January brought homes for 377 more
families and February added 488
These compare with 2l0 in December
and GIT and 895 in January and Feb
ruary, 1887.
After several months of decline, new
car sales in Washington proper have
turned sharply upward in the. last 80
days. The March total is expected to
rise 10 per cent above the February
volume, although still well below last
year.
Washington life insurance sales in
January and February totaled So
43l 900, which was 10 per cent below
the record levels of year ago. During
1887 the average size of policies sold
in the District of Columbia was
S3,357, the highest average in the
United States.
Bank Deposits Mount.
Bank deposits in Washington totaled
$685. ,523, ,597.86 on March Z, 1893
compared with $322,65l.855.54 on De-
cember 81. 1887 and only 1903, ,972.-
682.O3 on June 80, 1887, but were still
below the all-time peak of $34l,235,-
5l3.26 on March 81, 1887.
Bank clearings in January and Feb
ruary totaled $177,667,363, compared
with $l92,754.453 in the 1897 months
but were we'll ahead of $165,0l5,O7O
in the 1896 period and $3.50, ,523,2 in
the 1885 months.
The two months postal receipts OF
$l,l29,446 we're below the Sl,l59,4O2
in the 1887 month"; $l,190,59s
in 1886, but were ahead Of the 1885
total of $1,036,S15 and the 1929 total
of $947 7,902.45.
Utility Gains Noted.
Utilities continued to show gains in
service during the first two months of
this year. The number of telephones
climbed to 228,93O, a new all-time
record and compared with 216,915 on
the same 1887 date; l78,264 in 1888
and 152.38l in 1929. Daily average
telephone calls in February reached
942,333, against 91O,O26 in the 1887
month: 708,2l2 in the 1888 month
and 658,394 in the 1929 month.
Electric power production for the
two months totaled 118, ,499, ,906, COM
pared with 107,858,205 in the 1897
months and was we'll above the same
period in any other previous year.