Evening star., 1938-02-20
D. C.STORE SALES
REMAIN CLOSE TO
HIGH 1887 LEVEL
Showing Highly Favorable.
Slight Decline From
Week Ago Seen.
SITUATION is SIMILAR
OVER FIFTH DISTRICT
Norfolk Among Seven U. S. Cities
With Gains Over Year Ago.
Baltimore Unchanged.
By EDWARD c. STONE.

BY EDWARD c. STONE.
Trade in Washington department
stores remained on an even keel dur
ing the past week, holding its own
with the corresponding week last
year, the Commerce Department
weekly review announced yesterday
Similar conditions were reported in
the rest of the fifth Federal Reserve
district, the trade status being better
than in many centers outside this
territory.
Business in the Capital was 1.16
per cent under the previous week
No percentage comparison was made
with the same period year ago, as
there was so little difference in the
trade levels. Only one of the seven
big department stores here reported
Q decrease from the 1887 sales total
Trade conditions in the Capital are
considered highly favorable, as it will
be recalled that the spring months
of 1897 represented a peak period OF
business activity in the previous seven
or eight years. Furthermore, Easter
is still approximately two months
away and little business Of this type
has yet appeared, the Commerce sum-
mary states.
Norfolk was mentioned as one of
seven cities in the national survey
which business was slightly better
than last year Baltimore was rated
with Washington as city in which
business was practically unchanged
during the week. Charleston. S. c.,
experienced firmed tone in both
cash and instalment sales.
Bank clearings in Washington for
the week totaled s2l, ,407, ,966, against
$24.422,483 in the same week last
year. Building permits were off
$4200O0, compared with s645.60O a
year ago. More tourists visited the
Washington Monument than in the
previous week or year ago, the
report said.
Gas Preferred Sells Higher.
Washington Gas Light preferred stock
~ figured in 30-share sale at 9934 yes
terday on the washington Exchange.
This is higher than the stock had been
selling SO far this year.
The largest share turnover during
the week on the exchange was in Capt.
tai Transit stock. Early in the week
200 shares changed hands during one
session at 82i. The stock has not
moved either way since the transit
company announced plans to borrow
approximately 81 100000 from Is local
banks to be used in the purchase Of
new equipment.
Dividends will be paid in few days
on the Potomac Electric Power COM
mon and preferred issues, on Wash
ington Railway e. Electric common
and preferred, and OH Lanston Mono
type stock. These stocks are now be-
ing quoted ex-dividend on the ex-
change.
Insurance Cashiers Meet.
The cashiers section of the District
Life Underwriters Association held the
February luncheon Friday at down.
town restaurant, with j. Balch Moor,
insurance superintendent in the Dis
trict, and Paul H. Primm, president
Of the underwriters association, honor
guests. So.
Mr.. Moor stressed the Importance
Of the work Of the cashiers and pointed
out many ways in which they can
cooperate most helpfully with Of
fees in the field, as well as with all
selling agents. Mr.. Primm also spoke
briefly, the new section having been
launched under his administration.
Joseph F. Woods is chairman of the
section; Amelgio Paglino, vice chair
man. and Ida v. Lyons, secretary.
Bank Debts on Seasonally.
Debts to individual accounts re-
ported by Washington banks for Jan
uary were seasonally lower than the
December total, registering decrease
of 13 per cent from the preceding
month.
This percentage decrease was less
than the drop for the country as a
whole, indicating that business in
Washington held up q trifie better
than that of the average community.
The Standard Statistics Co. index
Of bank debts for Washington is
computed at l39 average of 1920
1924 equals 1000 for last month.
agaist 100 for December
Noted in Financial District.
The Norfolk & Western Railways
quarterly dividend Of 81 a share on
the preferred stock was received here
yesterday. The United States Steel
Corps quarterly dividend of SITS q
share on the preferred stock was also
paid yesterday.
Daily average sales Of chain grocery
stores for January were about per
cent below the dollar volume for jan
uary, 1897, according to preliminary
estimates Of the Bureau Of Foreign
and Domestic Commerce.
Total sales for the year 1887 were
about ~ per cent above 1886. and
we're higher than for any year since
1881. However, the increase was con.
, siderahly less than any year to yea,
gain recorded during the recovery
period. Chain grocery sales for 1881
were still per cent below the 1926
level.
M. 8. Szymczak. member Of tht
Board Of Governors of the Fedora
Reserve System, will be honored al
. dinner given by the Manhattan So.
ciety in New York tomorrow evening
Gov. M. S. Eccles will attend, as viii
many New York financiers.
US. FILMS IN LEAD.
An important exporter Of American
merchandise Is Hollywood. Seventy
nay cant ~ tia Al,sas si,nu,., II, 10 0os