Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-07-02
Capital Store Sales
Lag Behind 1888
And Last Week
Decline 4.A4 Per Cent
From Levels Of Same
Period Year Ago
BY EDWARD C. STONE.

BY EDWARD C. STONE.
In line with a seasonal slackening
Of trade all over the country, de-
partment store sales in Washington
stores during the week ended We'd
nesday were under the previous week
and the corresponding period year
ago, the Department of Commerce
reported yesterday in reviewing con-
ditions In SO key cities.
Sales In Capital stores were off
IA per cent from the same week last
year and % per cent from the pre-
vious week this year. Bank clearings
made a much better showing than
retail sales, the weeks total standing
at $24, 268843 compared with 500
772,558 a year ago.
Building permits were off 5000, 500
comparing with $548,873 last year.
The number of visitors in the city
discloses improvement, the Smith
sonian Institution reporting II ,9O8
compared with So, 391 year ago and
also slightly more than in the pre-
vious week this year.
Total passenger revenues OF the
Capital Transit Co. again scored an
advance, s224.240 comparing with
S208, LOSS in the comparable week last
year. These substantial gains have
been reported every week for long
time.
Business in the rest of the 5th dis
trict was spotty. Norfolk and
Charleston had notable trade in
creases. Other cities experienced
nominal decreases.
Dollar Sales Up 10 Per Cent.
Dollar sales of manufacturers dur
ing May were 1872 per cent above the
level of May year ago, the Com
merce Department announced yes
terday, the statement being based on
reports from 1919 manufacturers.
The dollar volume of these firms
during May amounted to 1922 ,000,-
600 compared with $270,000,O00 in
May, 1898.
Sales for all of the Is major indus
try groups for which data are shown
separately registered increases over
May, 1898. The greatest relative i'm
provement over May, 1888, was re-
corded by the motor vehicle parts,
iron and steel, non-ferrous metals,
and forest products groups, with in
creases of 48.6 per cent, 46.4 per cent,
1875 per cent and 245 per cent, re-
spectively. Substantial gains were
recorded by other industries ranging
from 21.7 per cent for machinery, to
IS per cent for petroleum products
The rate of collections of 1892
manufacturing firms was higher
than for May of last year or April
this year, the Commerce report
stated
Terminal Dividend Declared.
Directors of the Terminal Refrig-
Grating & Warehousing Corp. have
declared the regular semi annual
dividend of so cents per share on the
outstanding stock, it was announced
yesterday. The dividend was pay
able June 80
Washington banks, brokerage
offices and investment houses will be
open as usual tomorrow. The usual
Washington Stock Exchange session
also will be held. Some bankers ap-
peared bit envious yesterday when
speaking Of the long holiday granted
to Government employees.
Banks in the Capital are evincing
considerable interest in the new
regulations issued by the Federal
Housing Administration changing
the amount and length of term for
undermining loans made on and
after July /. The banks here, which
have made a feature of these loans
IN the past, even to the extent of
conducting an advertising campaign
IN the newspapers, expect to grant
such loans under the latest regula-
tons.
Business Sentiment Better,
The decline in business activity
apparently has run its course, the
First National Bank of Boston re-
ports in its monthly business letter
received in financial circles here yes
terday. Sentiment is better, the
bank says, and while general buying
policies are still on hand to- mouth
basis, there is more of disposition
IN some lines to anticipate normal
requirements.
Tho First National adds that in
dications point to comparative sta
bility in business for the next few
weeks with possible upturn in the
third quarter If events abroad do Not
become "calamitous."
Similar opinions have been ex-
pressed by Washington bankers dur
ing the past week. The gain of
621 .000,0 in bank clearings here
in the first half year added to the
favorable comment so far as this
city is concerned.
Heard In Financial District.
Next years annual convention of
the Virginia Bankers Association
will be held in Roanoke, May 1925.
Association officers set the dates in
May so they would not conflict with
the June bankers conference in
Charlottesville.
Washington Gas Light first IS,
4ooos SAOoCo Vic WCCh dU 46v -, 41OASA0
ing the high mark for the year.
Incidentally, these are the highest
priced bonds listed on the Washing
ton exchange.
Mergenthaler Linotype stock fur
nished the largest volume of stock
sales on the exchange during the
week, the final sale taking place at
1917. So far this year there has been
q turnover of 900 shares in this
issue.
Norman E. Towson, assistant
treasurer of the Washington Loan
& Trust Co., left the city yesterday
for q short vacation at Georgian
Bay, Canada. H. Arthur Lamar, in
the trust department of the same
bank, sailed yesterday on the U. S.
8. Gogg for . two-week cruise with
the Atlantic Training Squadron. He
Is lieutenant in the Naval Reserve
Corps.