Evening star., 1938-08-28
Retail Volume Registers
Gain of Only 1.Per Cent
Over Previous Week.
CHECKS AND BUILDING
WELL BELOW YEAR AGO
Smithsonian Visitors Increase in
Week, but Remain Behind
1887 Mark.
Rx DONALD HADLEY.

ward an average OF per cent during
the week ended Wednesday and
showed an average increase OF ATS
per cent over the corresponding week
a year ago, the Department of Com
merce reported yesterday in its sur
vey of 36 key cities.
Compared with the previous week
the Capital sales changes between
stores varied from an increase OF ll.5
per cent to a decrease of 1919 per cent,
the report stated.
Bank clearings for the week totaled
$l70l4,822. compared with $lS,420.-
s7l a year ago. Visitors to Smithson-
ian Institution totaled 78,706, against
74,667 in the previous week and 93,-
el6 year ago
Building permits sank to $220.550,
against s874,000 year ago. Capital
Transit passenger revenue reached
$l97,67l, against $186,500 in the 1887
week.
Weather Is Favorable.
The department report pointed out
that favorable weather and the ap-
proach of school days were factors in
the weeks improvement over the en-
tire Nation. Other cities showing in
creases over year ago were St Louis
Indianapolis, Omaha, New Orleans.
Jacksonville. Norfolk, and Charleston,
s. c. In Minneapolis and Atlanta the
losses we're only 2 and per cent, re-
spectively.
The Federal Reserve Bank of Rich
mind for the week ended Wednesday
revealed that all reporting fifth dis
trict cities registered slight increases
in retail trade, compared with the pre-
vious week, with the exception of Nor
folk. where a nominal decrease ap-
peared. Compared with year ago
these cities reported slight increases,
continued under last years levels.
Richmond bank debts totaled $685.
10000. against $36, ,3S5, 900 a year ago,
while Norfolk debts reached s10 1922
600. against $1O,325.Oo0 in the pre-
vious week and l0.536, 900 year ago.
Norfolk clearings totaled sl.864, 900,
against $2.284.000 in the previous week
and $2,249,000 year ago. Norfolk
grocery sales were reported 2 per
cent above the previous week and Is
per cent ahead Of year ago.
New Highs on Exchange.
Five new years highs were re-
corded on the Washington Stock Ex-
change during the week.
On Monday, Capital Traction SIS
went to IS on a $1,000 transition
compared with a previous high
of 1917.
On Wednesday. 10 shares of Prince
Georges Bank g. Trust moved at
l712, compared with a previous high
of II.
On Thursday, 10 shares of Lincoln
Service common sold at 81, compared
with a previous high of ls and II
81, 900 deals in Anacostia g. Potomac
SIS were reported at 80, compared with
the high of IS recorded 10 days ago
Capital Near Top.
Washington is listed in the Sep
tember l issue of Forbes magazine as
one of the best places in the United
States for concentrating sales ef-
forts, for collections and for promot.
ing other business operations
The Capital is the center of the
third best high-spot territory in the
United States today according to thu
magazine figures. Four other nearby
cities make up this territory.
Haf-Year Record Cited.
In comparing the first half of 193t
with the same 1887 period Busines!
Week, another trade magazine re.
ports that household refrigerator sale!
here were down only l3 per cent
while the national total was down Al
per cent; Washington new-car sale!
were down A per cent, while the ma
tional total was down 81 per cent
the value of bank checks drawn her,
was down II per cent. while the ma
tional total was down 18 per cent
electric power output here was up 1
per cent. while the national total wa.
down per cent.
Investing Firm Gains.
Released yesterday by George L
Naramore of the Washington office
the semi-annual financial statemen
of the Fidelity Investment Association
Of Wheeling. w. Va, shows an in
crease in assets from s34,770, 1924 9;
as OF December 81. 1887, to s37,268,
90523 as Of June 80.
The Capital Office sales increase ex
ceeded the composite sales increase o
the association during the period. Fl
deity reported "A per cent increas
over 1897 at the end Of July.
The new statement includes figure
for the Fidel Association Of New
York, Inc, affiliate Of the Wheeling
company. One new item is listed
Mortgage loans. not written into tn
December statement, are listed a
$7e.521.50. This includes F. H. A. ant
other real estate mortgages.
Financial District Notes.
Arthur G. Bishop, president, Per
petual Building Association will leav,
today on his annual vacation. It wa!
learned that Mr.. Bishop will includ,
the White Mountains in his itinerary
spending at least two weeks in tn.
New Hampshire and Vermont hills
Thomas w. Phelps, former chief O.
the Washington bureau of the Wal
Street Journal and for the last two
years editor of Barron's. will becom,
. general partner Of Francis l. du Pom
& Co., members of the New Yorl
Stock Exchange, on September /.
Smith. Barney e. Co. will head thu
syndicate offering a $25.000,000 issue
of 15-year debentures of the Atlantic
Refining Co., it was revealed in &
registration statement filed with tn.
Securities Exchange Commission Tht
coupon rate and date for offering vii
be announced later.