Evening star., 1938-11-20
Retail Volumes
Climb Sharply
Above 1887
Sales Up 8 Per Cent
As Cooler Weather
Spurs Activity
Bv EDWARD C. STONE.

washington curing Cne pdSI Weeh
showed substantial increases over
the previous week, as we'll as the
comparable period year ago, the
Commerce Department reported yes
terday in reviewing business condi-
tions in 81 key cities. \
Sales in the reporting stores here
Jumped 1927 per cent above the
previous week, the summary said,
and at the same time registered in
creases averaging 8 per cent over
the same week in 1887. The advent
of cooler weather and occurrence of
a Government pay day contributed
to the increases, the statement
added.
Cities elsewhere in the Fifth Re-
serve District also announced busl-
ness improvement, with exception
of Baltimore, where sales were less
than per cent below last year. The
average gain for the whole fifth
district was 81 per cent.
Bank clearings in the Capital were
not quite up to last year, S24, 1868 ,208
comparing with $26,273,624. There
were more visitors at the Smith
sonian Institution than in either the
previous week or the corresponding
week year ago.
Building permits in Washington
were much lower, s236,000 comparing
with $3.50 300 in 1887. Total reve-
nues of the Capital Transit Co..
for the week ended last wednesday
amounted to S213,737 against the
lower figure of s210,737 year ago.
Washington Gas Holds at 1O5.
Washington Gas Light Az per
cent preferred stock closed the week
at los on the Washington Stock
Exchange. against the highest mark
reached this year. Two sales were
recorded yesterday. one 10-share
lot and the other a block of so
shares.
The stock has been in heavy de-
mand during the past few days.
It opened the week at 103, reaching
a new 1888 peak in four of the six
trading sessions. On Wednesday
68 shares changed hands, and so
shares appeared on the board Tues
day. Redemption of Washington
Gas SIS. 1858, an $8,500,000 issue.
brought the company's preferred
stock into the limelight as investors
sought new channels for their funds
On the Washington exchange yes
terday, Capital Traction SIS sold at
80 in a $500 transaction. This was
a gain of full points over the last
previous sale. At one time this year
the bonds sold as low as 81. The %
point advance is said to be due to
the improved earnings Of the Cap
ital Transit Co,
Potomac Electric Power preferred
stocks. Washington Railway & Elec-
trio preferred and common and Lam
ston Monotype are now being quoted
ex-dividend on the exchange. Divi-
dends, already declared, will be paid
shortly.
Bankers Return From A. B. A.
Washington's large delegation at
tending the annual convention of
the American Bankers Association.
at Houston, Tex will be back in
the financial district tomorrow.
From reports by telegraph the con-
clave was one of the most inter-
esting and important in years.
There was a record number of
past presidents in attendance.
Among them were: John G. Ions
dale. St. Louis: Robert V. Fleming,
Washington; Oscar Wells, Birming-
ham; Rudolf S. Hecht. New Orleans;
Richard S. HaWes, st. Louis; Tom
K. Smith. st. Louis; Harry j. Haas,
Philadelphia; Robert Maddox, At
lanta; F. O. Watts, ST. Louis; E. F.
Swinney, Kansas City: Thomas r.
Preston, Chattanooga. and Orval w.
Adams. Salt Lake City. who retired
as president at the end Of the con-
vention. Such turnout indicates
most clearly how much interest
these bankers still take in associa-
ton affairs.
Loan Delegates to Report.
Members of the Executive Com
mittee of the District Building and
Loan League will hold a meeting at
the Raleigh Hotel Tuesday at 1890
o'clock when report will be pre-
sented from the delegates to the
annual meeting of the United States
Building and Loan League just held
In Chicago The delegates will be
back in the city tomorrow, includ-
Ing Edward c. Baltz, who retired as
president of the national organiza-
ton at the end of the Chicago ses-
sions.
L. r. Pennington, administrative
assistant to J. Edgar Hoover, direc-
tor of the Federal Bureau of Inves-
tigation. will be the honor guest and
principal speaker at the November
meeting of the District of Columbia
Control of the Controllers Institute
of America, which will have a joint
session with the Baltimore Control
at the Carlton Hotel Tuesday, be-
ginning at $50. w. r. Little of
The Evening Star, president. will
preside Humphrey Lloyd of WASH
ington Properties, Inc. vice presi-
dent of the local chapter, is in
charge of arrangements.
Bank Makes Perfect Record.
The receiver of the closed North
east Savings Bank will start a S
per cent dividend payment to former
depositors on Tuesday. This will
bring payments UP to 100 per cent,
back interest making the total to
more than that amount.
Depositors in the First National
Bank e. Trust Co., Petersburg, Va,
will be paid 10 per cent dividend,
beginning tomorrow. This payment
will bring the amount returned to
depositors to 80 per cent, with an
other later payment already being
forecast
The most sensational increase in
residential building this fall, COM
pared with a year ago, means that
1888 will be a better building year
than 1897, and that the upswing
will probably continue through the
-