Evening star., 1938-04-06
D. c. AUTO SALES
WELL BELOW 1887
February Volume ReCedes
to 1868, Compared With
1880 Year Ago.
By EDWARD C. STONE.

the Reserve Bank of Richmond reports
in the latest monthly review. Auto
mobile sales in the first two months
of this year totaled 2,l78 cars, against
4.0l7 in the first two months of 1887,
or decrease of 45.8 per cent, the re-
port adds.
In the whole fifth district in Febru-
ary sales continued to lag far behind
sales a year ago, but the comparisons
were more favorable than similar COM
parsons made in January with Janu-
ary, 1887. February sales of new cars
in the fifth district declined 1873 per
cent from the number sold in Febru-
ary. 1887.
Virginia made the best record, with
decline of 30.7 per cent, while South
Carolina, with a decrease of 443 per
cent showed the largest drop. Janu-
ary registrations of new cars declined
483 per cent from January, 1887. reg
istrations, giving combined decrease
for the first two months of 1888 of
AL per cent, the Richmond report
states
In Maryland alone, new car regis
trations in February totaled 1,5l2,
against 2,34l a year ago, off 35.4 per
cent. In the first two months of 1888
Maryland sales totaled $3.50, in COM
parison with STA in the like period
year ago. a drop of 44.7 per cent. Vir-
ginia sales totaled 2,023, against 1921
in February year ago and 4,464 in
the two months, compared with 6,997
a year ago, or a slump of 36,2 per cent.
Building Permits Fall OFF.
The Richmond report states that
building permits issued in 81 fifth dis
trict cities in February, 1888, num-
bered 1907, with estimated valuation
of s7,218914, compared with 2,l0l per-
mits issued in February, 1887, valued
at $7.127,l98, a decrease of IA per
cent in number of permits but an in
crease of 13 per cent in valuation in
the 1888 month. However, the increase
in valuation is chiefly accounted for
by a rise of ia per cent in Baltimore,
where one permit for a group OF apart
ments was issued for more than ST.
100000
Other large increases in valuation
figures were reported for Charleston,
w. Va; High Point, N c., and Colum-
bia S. C. The five highest valuation
figures for February were reported as
follows: Baltimore, S3,339,507 WASH
ington, s1,396.435; Charleston, w. Va.
s452,7O6; Richmond S282,379, and Co.
lumbia, S. c., S248965.
Contracts actually awarded for all
types of construction work in the fifth
district in February totaled only S14,-
TAI 900. In February, 1887, contract
awards totaled S22,l03,0 ,000 showing
decline this year of 1873 per cent.
More Direct Loans Sought.
The Richmond bank says that in
ouiries and applications received indl-
cate increased interest in industrial
loans made direct to business for
working capital.
From the middle of February to the
middle of March there was falling
off in demand deposits but small
increase in time deposits. Deposits in
10 mutual savings banks remained
higher than a year ago.
Debts to individual accounts in "a
cities totaled s998,445 900, a drop of
II per cent There were As failures
against A year ago. Liabilities to-
tailed S49l 900, % per cent higher than
in 1887
Sales in SO department stores totaled
S7,228,625, off only per cent from
February, 1887. Sales Of 125 whole
sale firms amounted to S8,583,000 or
98 per cent under the mark in the
same month last year.
The report discloses continued un-
satisfactory employment conditions.
During the month, however, Washing
ton reported gain of l per cent in
the number on pay rolls and per cent
in the amount of pay rolls. Maryland |
employment gained II per cent. In
Virginia the number of employed |
gained 0.4 per cent and pay roll amount
81 per cent, the Richmond review says. |
Business Shows Sharp Gains.
Fred Wicket, agency vice president |
OF the New York Life Insurance Co., |
was in Washington today, honor guest |
at a luncheon and meeting attended
by so representatives of the company
in the District, nearby Maryland and
Virginia, He will be given a dinner
at the Columbia Country Club this
evening, attended by winners of re-
cent sales contest and their wives.
AS a tribute to Mr. Wicket the
members of the local agency made a
special drive for business during
March, with the result that 243 appli-
cations were mailed to the home office
during the month. This is the largest |
number of applications produced in
began last summer.
Six Underwriters Nominated.
Six members of the District Life |
Underwriters Association were nomi- |
mated yesterday for places on the board |
of directors next year. They are James |
A. DeForce, B. H. Lingo, Earle D.
Krewson. Theodore w. Cook, Joseph A. |
Mari and r. L. Baldwin.
There will be three vacancies on
the board and three of these men will
be elected at the May meeting to fill
these positions. George B. Farquhar,
chairman of the Nominating Com
nittee, reported the results at the April
luncheon at the Willard Hotel 1t was
found that one of the ballots carried
the names of Donald Duck. Snow
White and Mae West, but it so hap
pens that they are not members of the
association.
Heard in Financial District.
The Hugh Reilly Co. officials are re-
ceiving congratulations today on the
companys reaching the 50th anniver-
sary of its business existence. This
firm has played an important role in
the city's business for five decades,
record which may well be envied by
any concern. John w. Hardeu is pres
ident of the company
Voters of 116 municipalities located
in q States approved municipal bond
issues aggregating $12,132,590 in
March, compared with only $4,000.600
in February, according to the Daily
Bond Buyer. The largest item is for a