Evening star., 1938-01-30
D. c. STORE SALES
OFF DURING WEEK
UET0CO[DSNAP
Trade Is Below Like Period
Year Ago and Previous
Six-Day Average.
ADVANCE REPORTED
IN BUILDING PERMITS
Stock Exchange Trading Scores
Monthly Rise-1nsurance
Firms Note Progress.
By EDWARD C. STONE.

BY EDWARD c. STONE.
Coolest weather of the winter
slowed up sales in Washington de-
partment stores during the week just
ended, resulting in a drop of 8 per
cent from the corresponding week a
year ago and 18 per cent from the
previous week, the Commerce De-
partment reported yesterday in re-
viewing business in SO important
cities. Sales for the full month. how
ever, are expected to compare favor
ably with January, 1887.
Building permits in the Capital
were substantially ahead of the same
period last year, the value of proposed
construction being s306, 400, compared
with only $l78,700 year ago. The
slower retail trade caused slump
in bank clearings, the total Of sl9,-
365.664, comparing with s24,745,933
in Cancelled checks year ago.
Retail trade in other cities in the
NTH district also registered declines,
except in Charleston, S. c. Balti-
more, Richmond and Norfolk were
among the cities reporting a slower
retail trade pace.
As Easter will come several weeks
later this year than in 1887, forward
orders in wholesale lines are reported
as being delayed Retail inventories
are being gradually depleted so that
some pickup is anticipated as retail
merchants will gradually have to
build up their stocks, the review
concludes.
D. c. Exchange Trading Rises.
Trading on the Washington Stock
Exchange in December was much bet
ter than in November. the Securities
and Exchange Commission reported
yesterday. The dollar value Of all
sales on the local exchange amounted
to $110,757, against only $7l,764 in
November.
Stock sales totaled slo4,629. as COM
pared with $53,5l6 in November, and
there was turnover of 1926 shares
in December, against 929 in the pre-
vious month. The value of bond
sales, however, was lower, S6,l28 COM
pairing with $18,248. The total prin-
cipal amount of bonds sold was $4,000.
against $4,000 in the earlier month.
While exchange activity in Decem-
Der was far ahead of November, it
was slightly behind December a year
ago. when the value of sales of both
stocks and bonds reached $123.633.
The report for Washington is far
better than that for all registered
exchanges IN December, when drop
of Z per cent was noted from Novem-
ber and 1875 per cent from Decem-
Der, 1896.
On the Washington Exchange yes
terday so shares OF Mergenthaler
Linotype sold at 23as, and Riggs Ma
tional Bank common came out at
1904 on q very small sale. Carpet
Corp. appeared on the board for
the first time this year. Is shares
moving at 2l.
Acacia Reports Sharp Gains.
President William Montgomery of
the Acacia Life Insurance Co. re-
ported yesterday that total sales in
1887 amounted to 4,784 900, the net
increase reaching s22,44O,0 900, an i'm
provement of rs per cent over 1886.
Total assets also scored a gain of
more than $6,470,OOO during the year,
Mr.. Montgomery added During 1887
Acacia improved its conservation rate
by another Is per cent, which means
the percentages of lapses decreased
by that amount. 1t is believed by
Mr.. Montgomery that this conserva-
tion record is unequaled by any other
old-line company.
Cremen Agents Win Honors.
John F. Cremen. general agent of
the Massachusetts, Mutual Life Insur-
ance Co., is among many other
Washington insurance men who re-
port substantial gains during the
year 1887. With Examinations at the
lowest point since 1927, a national
gain Of $36,998,39l of insurance in
force was registered, he said. Assets
were up $37,000,0O0.
The Washington Office wrote
$1,500,000 more new insurance than
in 1886, he said, the agency now
having $31 900, 900 insurance in force.
Three members of his staff were
among the company's 100 largest pro-
ducers during 1871. v. Freudberg,
D. j. Harrison and R. w. Castle.
Capital In Prosperity List.
Washington is included in the list
Of 10 cities in which business i'm
provement has recently been out
standing, says Forbes Magazine, Feb
Euary l issue.
The other nine cities are: Dall6,
Memphis, Forth Worth, Nashville,
Kansas City, Kans; Ell Paso, Port
land, Me-; Columbia, S. c., and
Williamsport, Pa.
Specifically, in the cities named,
business is said to compare more fav-
orably with the same time last year
than on any previous occasion since
November, 1887.
The North Carolina Bankers Asso-
citation will hold its 1898 convention
on the high seas. Sailing from Nor
folk on the S. S. Reliance June 10
the North Carolina bankers will visit
Nassau and Havana, returning to
Norfolk June 26.
JANUARY FARM PRICES