Evening star., 1938-04-17
SALES IN CAPITAL
UP 21.37 PER CENT
FROM 1937LEvELS
Small Drop From Previous
Week Is Laid to Three
Rainy Days.
BUILDING AND CHECKS
WELL BELOW YEAR AGO
Bank Auditors to Hear Capital
Speakers at Regional Conclave
in Philadelphia.
BY EDWARD c. STONE.


An upsurge in Easter shopping in
Washington department stores dur
Ing the last few days brought about
Jump of 2l.37 per cent over the same
week in March a year ago, the Com
merce Department reported yesterday
the period covered ending last
Wednesday. All but one store re-
ported substantial gains over the like
period in 1887.
Reports Of department stores varied
greatly for the week just ended ir
comparison with the previous week
showing an average decrease of 695
per cent, the Commerce statemen,
said. These reports ranged from a
decrease of 81 per cent to a gain of
10 per cent.
The drop from the previous week
was. due to three cold, rainy shopping
days and the cessation of certain spe-
cIal promotional events, the report
added. The pace set in the previous
week was difficult to exceed, as that
period had scored a gain of 1890 pei
cent over the last week in March
However. the tremendous rush of buy
ers during the concluding days OF
the Easter holidays will make the
total volume of trade in the Capital
highly satisfactory. one of the best
Easter seasons on record.
The Commerce report showed that
bank clearings for the week totaled
S23,712.767, against S27,76l .438 a yeal
ago. Building permits here were also
lower, S264,900, comparing with $685.
200. Most other fifth district cities
registered moderate increases in trade
over the previous week and the CORE
spending week last year. Baltimore
reported Easter trade approximately
up to seasonal expectations. All nearby
cities were in much better luck than
Chicago. which had two heavy bliz-
yards in three days.
Auditors Have Fine Program.
In addition to the active parts
winch Raymond G. Marx controller of
the Riggs National Bank, and Arthur
j. Linn, controller of the Hamilton
Natlonal, Will take in the sixth an
nual Eastern regional conference of
the National Association of Bank
Auditors and Controllers in Phila-
delphia Friday and Saturday, many
otner important speakers will be
heard. John S. Sinclair, president
Federal Reserve Bank of philadelphia
Will welcome the guests.
E. j. Whitehead, Worcester County
Trust Co.; NJ. H. Bleuthner, Dry Dock
Savings Institution; Prof. A. H. Will
llams, University of Pennsylvania
Russell Thomes, Central-Hanover
Bank g. Trust Co.. and James E.
Potts First National Bank of Boston.
are a few of the other speakers.
During the tWo-day sessions, lunch
cons, the annual banquet and other
entertainment have been arranged.
The Washington delegation will be
announced shortly.
Bankers Push Parley Plans,
Officers of the District Bankers
Association and committee chairmen
OF all committees will 60 to Hot
Springs next Friday and make final
arrangements over the week end for
the annual convention on June 9 to
II. Those expecting to make the trip
include:
Thomas j. Groom, president, execu-
tive vice president Bank of Commerce
Il Savings; Hilleary G. Hoskinson. first
wee president, vice president Riggs
National Bank: Ord Preston. second
vice president, president Union Trust
Co.; A. M. McLachlen, third vice
president, secretary and treasurer
McLachlen Banking Corp.
T. Stanley Holland, general con-
vention chairman, trust officer Amer
ican Security g. Trust Co.; Frederick
P. H. Siddons, chairman Program
COMMITTEE. secretary American Sc
curity g. Trust Co.; William B. Will
. lard. chairman Entertainment Com
mittee, vice president National Saw
ings & Trust Co.: S. William Miller,
chairman Transportation Committee.
treasurer Union Trust Co.; A. Scott
Offutt, chairman Hotel Committee.
vice president City Bank; Robert H.
Lacey. chairman Sports Committee,
cashier Columbia National Bank, and
Sidney F. Taliaferro, chairman Pub
licity Committee. vice president and
trust officer Riggs National Bank.
Heard in Financial District.
La Sale Apartments. Washington,
have filed registration statement
with the Securities and Exchange
Commission covering $500. 900 of GER
tificateS of deposit for per cent five
year notes, due 1882 and extended.
The registration is filed in connection
with a plan of reorganization under
which one share of capital stock and
one $50 unsecured debenture bond
OF the new corporation would be Of
fered in exchange for each $50 face
amount Of the certificate of deposit,
the registration statement says.
On the Washington Stock Exchange
yesterday Potomac Electric Power 5l2
per cent preferred stock again sold at
$ll3 a share. Capital Transit stock,
which has recently been very quiet,
closed the week with 6la bid and 8
asked. The asked price for Mergen-
thaler Linotype has been raised to
"a, with 20 bid
Federal Land Bank bonds totaling
S22, ,439, 300 will be called for redemp-
ton on May /, w. I, Myers. governor
of the Farm Credit Administration,
has announced On that date this
issue, bearing per cent interest,
will have been outstanding 10 years.
The call will be participated in by
eight of the banks in amounts rang
ing from s620,000 to $5,1ll,000
Roanoke, Va. will offer s5,00o,0 900
water works bond issue this week, the