Evening star., 1938-12-06
October Construction
Hits 8-Year Peak
In Fifth District
$34, ,205, 900 Contracts Let
Against $15,944,000 in
Same 1887 Month
BY EDWARD c. STONE.

Nu AAA "a SRllSo 4Ai I1lS ~ VA - SAC4 a.
Reserve district in October reached
the second highest figure reported
for any month in the past eight
years, according to the Richmond
Reserve Banks latest review.
The value of these contracts
totaled s34 2O5,O 900 in comparison
with $15.944,000 in October, 1887, a
gain of lis per cent and an advance
of % per cent over September of
this year, the survey disclosed. At
the same time permits totaled So
1888, $50, a 48 per cent gain over
October, 1887.
The sharp rise in construction
work during October was perhaps
the outstanding development of the
month, the business survey con-
tinued. The Government construc-
ton program is chiefly responsible
for the high contract award figures,
but private construction is at a
higher level also than in most recent
years, the Richmond bank explained.
The expansion in construction car
ried over into November and some
projects, such as contracts awarded
to Hampton Roads ship yards for
two battleships to cost approXl-
.mately $45 100000 each, will employ
large number of skilled workers
over long period of time.
Automobile Sales Increase.
Details from the survey received
today show a material increase in
automobile sales in this territory IN
October over September. only partly
attributable to the introduction of
new models. Passenger registrations
gained in every State but Virginia.
District of Columbia registrations
totaled 1,065 against 1865 in Octo-
Der last year, off q per cent. In
the first 10 months Washington reg
.istrations totaled 1868, down As per
cent from last year.
Maryland reported 1866 registra-
tons in October, off % per cent from
October, 1887. while the 20,902 reg
istratlons in the 10 months were 40
per cent lower than last year.
Virginia registrations in October
numbered 1874, off just SO per cent
from October a year ago. In the 10
months new passenger-car registra-
tiolls totaled 24453, down As per
cent
In the whole fifth district passen-
ger car registrations totaled 8,575 in
October against 15.176 year ago, a
drop of 43 per cent. In the l0-month
period registrations totaled 108,l41 in
the same months last year, "a de-
crease of 49 per cent, the report
states.
Value of Retail Sales OFF.
. The dollar value of retail sales in
80 department stores in this district
in October was S10,84S.373. a u per
cent gain over September but 5
per cent slump over October a year
ago.
Retail sales made better showing
than wholesale volumes. Wholesale
business amounted to S13O35. 900 this
year against s139870OO year ago,
decrease of per cent over October.
1887, and per cent over September,
1888.
The number of business failures
in the 5th district in October was
19 per cent higher than in Septem-
Der and "a per cent higher than
year ago. Liabilities. however, which
totaled $4,000. were % per cent
lower than last year and 3 per cent
under the September mark.
Forty-one reporting banks in -
cities increased their loans and dis
counts between the middle of Octo-
Der and the middle of November.
and also added to their holdings of
securities. Deposits, both demand
and time, rose during the month,
the review reveals
Peoples Drug Sales StcaGy.
Net sales of Peoples Drug Stores
In November totaled sl.774 582 .26,
against Sl776.92203 in November,
1887. small decrease of s2,339.77,
or Ol3 per cent. the head Office
reported here today,
Total net sales in the first II
months of this year amounted to
$l9,304,2 ,22a 28, in comparison With
$l9960650.H in the like period
year ago. decrease OF S656 40 .49
or 328 per cent, today'S report
stated.
First Bank Bonuses Voted
Directors Of the Security Savin3S
IL Commercial Bank have voted the
usual Christmas bonus OF ) per cent
OF yearly salaries to all enll,!CyeS of
the bank. President Francis G. Ad-
olson, Jr., announced .Oday. The
distribution has already been made
Directors of the City Bank Of
Washington have voted Christmas
bonus of half months salary, to
be paid to about 80 employees in the
main office and five branches. Presi-
dent Clarence F.. Burton announced
yesterday. These two bonuses are
the first to be announced by any
Washington banks this wear.
New Air Express Records.
An-time highs were scored in Oc-
tober in both gross revenue and the
number of shipments handled in the
air express service of Railway Ex-
press Agency, the agency reported
here today. Gross revenue was l6.2
per cent above that of October, 1887,
and 8l2 per cent above that of Sep
tember, 1898, the previous high
month.
Shipments totaled 73,758, gain
of 9 per cent over October, 1887 the
previous record month for Ship
ments, and II per cent over Sep
tember 1888. For the first 10 months
of 1888 air express shipments in
creased 40 per cent over the corre-
spending period of 1887, the report
said.
Heard in Financial District.
The safe deposit section of the
District Bankers Association is hav-
ing its annual Joint meeting with
the Baltimore Safe Deposit Associa-
ton at the Merchants Club. in Bal
timore, at $50 this evening. Quite
q delegation of Washington members
will attend.
n