Evening star., 1938-12-04
Colder Weather
Boosts Sales
In Capital
Rising Tide Of YuIe
Shopping Also Is
Factor in Week
BY EDWARD C. STONE.


Much colder weather and the ris-
ing tide of Christmas shopping lifted
trade in Washington department
stores during the past week higher
than the previous week and also
above the comparable week year
ago. the Commerce Department re-
ported yesterday in a summary of
conditions in 81 key cities.
Compared with the previous week
retail sales in the Capital showed
an increase averaging 307 per cent
the complete range being from a
decrease of 10 per cent to an in
crease of more than 13 per cent.
With the exception of one store
which had a nominal decline, all
stores in the city registered an in
crease over last year averaging 648
per cent, the trade review stated
In some cities Christmas savings
were asserted as a factor for the
sales pickup, but they were not
distributed in Washington until
late in the week.
Gains in Other Cities.
Retail trade in the rest of the
fifth district, stimulated by colder
weather, showed general improve
ment. Baltimore reported increased
activity. Charleston, S. c., expert
enced sharp gains over last year;
Richmond noted general improve
ment, but Norfolk sales were under
the previous week year ago.
Bank clearings in Washington to-
tailed $17.862,842; a year ago, $20,-
855,728. Building permits amounted
to $264,100 against $668 600 a year
ago when 100000 permit for an
addition to the Carnegie Institu-
ton was included. November per-
mits totaled sl,966.850 compared
with $1,654.l50 last year.
Capital Transit passenger reve-
nues for the week ended Wednes-
day added up to $2l3,990 against
$198,013 year ago, a more than
normal increase due to the heavy
snowfall.
Bankers Select Hot Springs.
Hilleary G. Hoskinson, president
of the District of Columbia Bankers
Association, announced yesterday
that the 21st annual convention Of
the association will be held at the
Homestead, Hot Springs, Va, June
Til. The general convention chair
man will be announced later.
Washington bankers held their
convention last June at the same
popular Virginia resort. For sew
eral years they have gravitated back
and forth between Hot Springs and
White Sulphur, being at the Green
brier Hotel two years ago. While
both resorts are considered ideal
for conventions, many financiers
will be glad that Hot Springs has
been selected for the next conclave.
The matter was given careful con-
sideration by the associations Coun-
Gil of Administration.
Banks Join ID. C. Association.
Another announcement made by
President Hoskinson of the District
Bankers Association was that the
Bank of Bethesda, Md, and the Ar
lington Trust Co., Rosslyn, Va, have
been elected to associate member
ship in the Washington association.
They are the first banks outside the
District to be granted admission.
The bylaws of the District Bank
ers Association were recently
amended to permit banks within a
radius of 10 miles of the Capital to
become associate members. There
are about a dozen banks in the
area which have close contacts with
Washington institutions. Others are
expected to join after such action
has been approved by their direc-
tors.
Exchange Prices Hold Firm
National Savings & Trust Co.
stock appeared in the sales on the
Washington Stock Exchange yester-
day for the first time this year.
The stock changed hands at the
high price of $205.50 a share, for S,
Is and 10 share lots. Recent bids
for the stock have stood at 203 with
215 asked.
Capital Traction IS were in de-
mand on the exchange yesterday,
the bonds selling at 8312 on five con-
secutive $1,000 transfers. The bonds
closed with 831a bid and 86 asked.
Capital Transit stock came out at
the highest price in many weeks,
81. Earlier in the week the stock
sold at 81 and began to advance
after the October earnings report
was out. 1t is now nearing the high
for the year. 9A.
Heard In Financial District.
Depositors in the former Potomac
Savings Bank are to receive an 8 per
cent dividend at once, amounting
to 1852 900, it was announced yes
terday by the receiver, Justus S.
Wardell, at 1406 G street NV,
where the checks will be paid This
disbursement will bring total pay
ments up to 70H per cent and will
be particularly welcome at this time.
Raymond G. Marx, chairman of
tho Program Committee of the aud
1tors section of the District Bank
ers Association, announced yester-
day that r. w. Scissor, a prominent
onicial in the Fidelity & Casualty
Co., New York, will address the Sec
ton next Thursday at dinner meet
ing, on "Defalcations." Gerald E.
Keene, chairman, will preside.
The Chesapeake & Potomac Tele-
phone Co. of Baltimore reports
gain of 1852 stations in November
and 1929 in the first II months
Of this year.
A. r. Towner, investment coun-
selor, has returned to Washington
after a months economic survey of
Southern States.