Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-11-06
Furniture Sales
In Capital Show
Sharp Advances
Reserve Bank Reports
10 Per Cent Monthly
Gain Over Year Ago
BY EDWARD C. STONE.

year and in September, the Federal
Reserve Bank of Richmond says in
the latest monthly review.
Business in seven leading Cap
1tal stores was 10 per cent better
in September this year than last and
6 per cent higher in the nine month
period. than in the same months
year ago.
The average gain for So stores in
the fifth Reserve district was 10
per cent in September and 8 per
cent at the end of the third quar-
ter. Maryland sales were up "a per
cent in September and per cent in
the nine months.
Virginia stores reported per
cent better business in September
and per cent for the longer period.
South Carolina led the whole dis
trict with September pickup of
81 per cent and Jump of 80 per
cent up to October /, the bank
review states
Wholesale Trade Scars.
The Richmond bank summary
presents some startling figures on
advances in wholesale trade in Sep
TENDER. Electrical goods sales were
up SO per cent over last year and
6 per cent over August Auto sup
plies jumped % per cent and ~
per cent over August. Industrial
supplies were in 80 per cent better
demand than year ago and 10 per
cent ahead of August.
Dry goods were l2 per cent ahead
of last year in sales; drugs, 4 per
cent; groceries, Is per cent; hard
ware, 10 per cent; plumbing and
heating, 3 per cent; paper and
products, 10 per cent, tobacco
and products, 10 per cent, and mis-
cellaneous sales, Il per cent. Shoe
sales were off l per cent from last
year, the only minus figure in the
list.
Compared with the previous
month this year, sales in all but
shoes and tobacco products were
better, ranging from to AZ per
cent, the report being one of the
best in several months.
The Richmond bank says that
consumer buying was we'll above sea-
sonal expectations in September.
Price decentralization in the to-
bacco market was prevented by the
Commodity Credit Corp, the report
says. enabling growers to market
their crop in orderly fashion. Grow
ers have voted to return to a mar
keting quota system in 1910 to in
sure against overproduction next
season.
One of the brightest spots in the
month was the notable improvement
In employment.
Peoples Drug Sales Rise.
Net sales of Peoples Drug Stores,
Inc, in October totaled 81 ,955 ,410.72.
as compared with S1,940,44597 in
October, 1888, small increase of
$14,964.75 or OFT per cent, it was
reported at the Washington head
quarters of the big drug chain to-
day.
Net sales of Peoples Drug from
January through October amounted
to S18,312867.67 in comparison with
SIT, 492 95104 in the first 10 months
of 1888, an increase of s819,916.63
or 1896 per cent, today's report
stated.
The October percentage gains
were not up to September when
sales totaled s1835,270.15, an in
crease of S124,29547 or 726 per
cent, together with an upswing for
the nine months of STA per cent.
The october report was the first
since the nine months summary
which showed s194 per share earned
on the common stock against $1.57
per share a year ago.
Securities Committee Elected.
District Committee No. II, Ma
tional Association of Securities
Dealers, Inc, was ready today to
start the coming years work. with
James Parker holland of Folger,
Nolan & Co., chairman Edward
K. Dunn of Baltimore, vice chair
man, and William Frazier, Rich
mond secretary.
Other members of the committee
are Y. E. Booker of Y. E. Booker &
Co., Oscar Burnett, Greensboro,
N. C, and Herbert w. Schaefer, Bal
timore. Messrs Dunn and Frazier
will serve for one-year terms. Booker
and Schaefer for two-year terms
and Nolan and Burnett three years.
All future members of the COM
mittee will be elected to serve three
years. Length of service of the
present six members was decided
by lot.
Exchange Closes Tomorrow.
Washington Railway & Electric
preferred stock was strong on the
Washington exchange today, small
sale taking place at 1884,.
The exchange will be closed to-
morrow, when the New York Stock
Exchange will also be closed on &C
count of election day.
All the brokerage houses in Wash
lngton will also be closed tomorrow
and again Saturday, when Armistice
Day comes along.
Air Traffic Up Sc Per Cent.
United Airlines flew an estimated
total of 5950,700 revenue passenger
miles in the month of October, an
increase of 1866 per cent over the
October, 1898, total of 11765 ,96l
revenue passenger miles, it was an
nounced here today The report
marked a new record for this month
of the year.
William T. Wilson has been ap-
pointed director of the Public Rela-
tions Council of the American Bank
ers Association, it is announced by
Robert NJ Hanes, president of the
association.
Heard in Financial District.
Depositors' balances in the Postal
Savings System declined $4,000,00C
in September to total of $l,267,-
100000, as compared with s1,271,-
100000 in the previous month, the
Federal Reserve Board reports. A
,,oor ooo ho1ancec StOod at al DAB :