Evening star., 1938-08-03
Heads A. I, B, Publicity.


June - 564,646 599,50l
July --- 536,8l8 527,554
Heads A. 1. B. Publicity.
Mr.. Kenneth Birgfeld of the Ameri-
can Security g. Trust Co. has been
named publicity chairman of Wash
ington Chapter, American Institute of
Banking, it was announced today by
Joseph R. Fitzpatrick, president of the
chapter.
Mr.. Birgfeld is on the staff of DOL
lars g. Sense, the Washington Chapter
publication, and has held other i'm
portant positions in the work OF the
institute.
Plans to Open Office.
T. Baker Robinson. former invest
ment department manager for the
Washington Office of Grayson Mp
Murphy g. Co., will open his own Office
to deal in investment securities, 1t
was learned in the financial district
Mr.. Robinson is a member Of the
Washington Stock Exchange and a
past president of the Bond Club OF
Washington He also is trustee OF
National Homeopathic Hospital and a
former governor of the Columbia
Country Club.
June Sales Lag.
Details from the latest review of
conditions in the Fifth Federal Re-
serve district by the Richmond Re-
serve Bank disclose that retail sales
in June totaled S9,620,7O1 in So de-
partment stores, against S10,345,83 in
June, 1887, drop of only per cent.
Sales by 167 wholesale firms in the
fifth district in June totaled $40, ,281,-
900, as compared with 1924 900, a
drop of II per cent. the same survey
states
Debts to individual accounts, re-
flecting transactions in banks in "a
fifth district cities, amounted to
SLIT ,683 900, a rise of per cent
over May, but l3 per cent less than
June, 1887. June debts were up 10
per cent over May, but off 12.4 per
cent in the first half year. Washing
ton debts were off II per cent in the
half year.
Employment showed little change in
June, but picked up some during the
first half of July, the report reveals.
The number on pay rolls in the Dis
trict of Columbia in June disclosed
81 per cent decrease in June from
May and the total amount of pay rolls
was off or per cent.
Highway Work Holds Steady.
The Richmond survey states that
employment on highway and street
work is at practically the same level
As year ago. There was an increased
demand for agricultural workers in
June. Commercial failures in this
territory in June showed approxi-
rately the same percentage increase
over June, 1887, as the average for
the United States.
The number of bankruptcies in the
fifth district was 81 per cent above
the number in June, 1887. Liabilities
were up SO per cent, against the ma
tional increase of 40 per cent. In the
six-month period failures increased
only II per cent in this district a.
per cent for the United States. Liza
bilities were up 81 per cent in the half
year.
New passenger automobile sales in
the fifth district continued to decline
IN June, compared with the same
month year ago, the decrease OF So
per cent being the largest drop re-
ported for any month during the past
year. Virginia showed the smallest
froy Tyyy,o
cent. Washington sales were down so
per cent and A per cent in the first
half year. Maryland sales were eff
SIS per cent and 48 per cent, respec-
lively, the survey says.
Building Permits Improve.
Permits issued by building inspec-
tors in 81 fifth district cities in June,
1888, totaled $6,985,851, decrease of
per cent under permit valuations
for June, 1887. totaling $7,602,l96.
Seventeen of the 81 cities reported
higher figures for June this year, but
materially lower figures in few cities
pulled the district total down.
Among the five largest cities Rich
mond, with an increase of Ill per cent,
reported the only gain over June, 1887,
permits. Durham, with permits total
ing $782,471 in June, 1888, made the
best record in the district in propor-
ton to population. permits in that
city including dormitory at Duke
University to cost 100000.
Financial District Notes.
Edward c. Stone. financial editor of
The Evening Star, sailed for Europe
today on the Normandie Accom-
panied by Mrs. Stone, he plans
months vacation in the British Isles
and in France.
The Mutual Benefit Life Insurance
Co. of Newark, NJ j., reports that the
H. L. Choate agency in Washington
is doing good business despite the
heat. In single day July 26) repre-
sentatives of the agency turned in %
applications for $107,500 of insurance.
Mutual Benefit agencies over the Ma
ton turned in nearly S4,000000 of
Insurance on the same day-the largest
single days business in the company's
history. The average policy applied
for in Washington amounted to 81 1886.
Washington Gas Light preferred
sold at 997s on a 100-share transfer
on the Washington Stock Exchange
today and 16 shares of Prince Georges
Bank & Trust Co. sold at II. After the
call, three 10-share lots of Washing
Ton Gas Light preferred changed hands
at 100, while five shares of the Bank
of Bethesda moved at Is.
c. c. Morgan. associate manager of
the Washington Office of Laidlaw &
Co., will return Monday from a weeks
trip into Northern Canada.