Evening star., 1939-04-09
Capital Store Sales
Soar 11.8 Per Cent
Over 1888 Level
Volumes Score Gain
Of II Per Cent From
Previous Week
By EDWARD c. STONE.

CIcViOuS VSSN
By EDWARD c. STONE.
Spurred by the approach of Easter,
department store sales in Washing
ton during the past week continued
the recent rise, scared 27.O5 per cent
above the previous week and also
scored a substantial increase Of lib
per cent over the corresponding
week a year ago, the Commerce De-
partment reported yesterday IN
survey of business conditions in 36
cities.
Building permits in the Capital
also presented an outstanding re-
port for the week, total Of $631, 100,
including $150,000 for one OF the
smaller buildings for the municipal
(center, against only $254,775 in the
corresponding week last year. The
report included a surprising build
ing permit gain in the month OF
March, S4.248, AS. in comparison
with $163O,250 in March, 1888.
Check activities during the week
were more active than a year ago.
bank clearings reaching S27,272, 1876,
as compared with S26690,450, the
Commerce report said. Visitors at
the Smithsonian Institution were
double the previous week, but not
quite up to last year. The Capital
Transit Co. again reported higher
passenger revenues for the week,
S228317, comparing with $218,O38 in
the like period of 1888.
The Commerce report stated that
every reporting city in the Fifth Re
serve District registered larger re-
tail sales than a year ago. Rich
mond, Norfolk, Charleston were
among the cities enjoying trade ex-
pansion Baltimore announced that
ttrade for the whole Easter season
would be about the same as a year
ago. Interest in building construc-
ton was stressed as one of the
brightest spots in this territory.
S2,000,000 for Construction.
Increasing activity in applications
for real estate loans from building
and loan associations in the District
is reported by F. Wilson Camp, Sec
retary of the District Building and
Loan League, in report issued yes
terday.
a According to Mr. Camp, local as
Sociations have approved during the
past three months applications for
over Sc, 100000, of which over So, 2,000,-
600 were advances for new construc-
ton. 1t is estimated that loans ap-
proved during April, May and June
will total in excess of $4,000, 900.
While complete figures for the q
associations comprising the league as
of April have not been made pub
lie, it was stated that the Perpetual
Building Association still enjoys ma
tional leadership in point Of size
with the other American associa-
tions Perpetual's balance sheet of
March 20 reflects sharp gain over
the January figures, being in excess
of S49.150,000.
Trading Active on Exchange.
Saturday trading on the Washing
ton Stock Exchange was more active
than usual. with prices showing none
of the shrinkage prevalent on the
New York Exchange.
Capital Traction IS led the market,
opening with a $4,000 transfer at 88,
a new high mark for the present
year. Two more transactions, 5000
and $4,000, took place at the still
higher figure of 1914.
Washington Railway & Electric As
were in demand, a $500 turnover
being recorded at 1882. an advance
of full point since the last pre-
vious sale. This completed the bond
trading bids on other issues re-
naming strong.
Terminal Refrigerating 81 Ware
! housing Corp. stock appeared on
the board, 10 shares changing hands
at 81. Capital Transit closed the
week at the new high mark of 9s4
The final bid was with stock Of
fered at 97s.
Noted in Financial District.
Standing room only prevailed in
the New York Stock Exchange Of
fees here yesterday, following the
Friday holiday. Many patrons, who
i. usually use the phone, wanted to
be nearer the quotation tape. In
terest in the market has not been
as keen in many months.
Thomas j. Watson, president of
International Business Machines
Corp. which has a Washington Of
flee, says prospects are favorable
and business fundamentally sound
in the United States. Pointing es-
pecially to capital goods industries,
building construction and registra-
tion of new securities, he believes
any lag will be temporary.
The Securities and Exchange
Commission states that the study
of the needs of small and interme-
diate-size business for new capital
financing will require about eight
weeks. and will be in cooperation
with 561 Junior chambers of COM
merce.
The Treasury's monetary gold
holdings on April totaled $l5.292,-
1926 an all-time record ana ap-
proximately so per cent of the
worlds estimated monetary gold