Evening star., 1938-12-25
DC. Sales jump
sos Per Cent
Above 1897
YuIe Rush Lifts Total
21.42 Per Cent From
Previous Week
BY EDWARD C. STONE.

sSVIVuS VVCCN
BY EDWARD C. STONE.
Coming down the homestretct
with a tremendous burst of speed
Christmas trade in Washington dur.
Ing the past week was ahead of the
previous week and also of the cor
responding week in 1887, the Com
merce Department reported yester-
day IN reviewing business in 36 key
cities.
Holiday buying lifted retail trade
ON an average of 81. AZ per cent over
the previous week in the department
stores, every store reporting SUBJ
stantial increase. This was one OF
the best week-to-week gains report
ed In the Capital during the entire
Yuletide season.
Compared with year ago the
same stores reported an increase In
sales Of sos per cent as the average
advance. One store reported that
business was more than is per cent
better than last year. AS Christmas
sales reached the climax, trade was
better than had been predicted here
= and in other parts of the 5th Federal
Reserve District, the report said.
Bank Clearings Also Higher.
Washington bank clearings were
ahead OF the same week year ago,
s25 ,959,891 comparing with S24 43O7,-
S13. Building permits registered a
substantial total of $343, 500. Total
passenger revenues of the Capital
Transit Co. for the week ended We'd
nesday reflected the Christmas trans
portation rush, amounting to $685.
674, against only $224,874 a year ago.
= Retail reports for the week were
encouraging throughout the 5th dis
trict, the Commerce statement
added. Washington, Charleston and
Norfolk reported increases over both
the previous week and a year ago,
and Baltimore announced that holi-
day trade would be on a par with last
year. Baltimore wholesale trade and
bank clearings were both ahead of
last year.
Charleston, S. c.. reported trade IS
per cent ahead of the like period
IN 1887 and added that Christmas
retail business had been the largest
since the depression. Norfolk esti-
mated that trade for the whole
holiday season will run from 5 to 7
per cent ahead of last year. Rich
mond retail trade echoed the same
favorable results.
Trading on d. C. Exchange.
Bonds were neglected and trading
was confined to one stock on the
Washington Exchange yesterday.
Forty shares of Capital Transit
y changed ownership at 734. The
market closed with ia bid and 8A
asked for the stock. Yesterdays sale
was the first since the November
report was filed with the Public
p Utilities Commission showing that
net earnings were more than double
What they were in November, 1897.
The report disclosed that net earn
tngs of $219,340 in the first II
months of this year were also more
than double net returns in the same
vperlod last year.
The week ended with a bid of
i04s4 for Washington Gas Life pre-
ferred stock, with none offered at
any figure. The stock was again in
heavy demand during the week.
Mergenthaler Linotype closed the
week with 20 bid and 81 asked. Other
quotations were little changed.
Bethesda Bank Votes Dividend.
Directors of the Bank of Bethesda
have declared regular semi
annual dividend of IL per cent on
bne outstanding stock, payable De-
cember % to stockholders of record
December %. Bank of Bethesda
stock Is listed on the Washington
exchange, has par value of s25 a
share and the last recored sale was
made at that figure.
Ernest j. Splitter, manager of the
local Office of the Dictaphone Sales
Corp, announced yesterday that the
annual meeting of executives and
branch managers of the Is offices
d. scattered throughout the country will
be held January 5 to 7, for the first
time In Washington, with headquar-
ters at the Wardman Park Hotel.
statesmen who have attained or
exceeded a prescribed quota for the
year 1888 will also attend.
Payments by Seven Banks.
Authorizations for payment of a
total OF $2,080,590 in dividends bv
seven insolvent national banks were
Issued to receivers by the Controller
OF the Currency during the week
eended December %. The average
percentage payment on proved
claims was 1912 per cent.
The two largest dividends author
ized were $956,190, or 1875 per cent
BY the Chattanooga National Bank
and $50,700, or 125 per cent by the
First National Bank of CHATTANOOGA
Loans, Investments Increase.
The Governors of the Federal Re-
serve System reported yesterday that
following declines during November,
total loans and investments of re-
porting member banks in 1O1 lead
Ing cities increased during the first
three weeks of December, largely
rejecting operations of the Treasury.
Loans to security dealers by New
York banks increased sharply, re-
f1ecting temporary borrowing for the
purpose of carrying Government
securities exchangeable for new is
sues on December Is.
Adjusted demand deposits rose to
r. new high level in the first half of
December.