Evening star., 1939-01-08
D. T.. Store Sales
Remain Ahead
Of Year Ago
6.8 Per Cent Gain Seen
Despite Sag From
Previous Week
By EDWARD C. STONE.

Department store sales in Wash.
ington during the last week regis.
tered an average gain of 6.8 per cent
over the corresponding week veal
ago, the Commerce Department re-
ported yesterday in summing ur
business in IS key cities. One store
reported a nominal decrease, while
the others noted increases ranging
from to II per cent. Sales were of
81 per cent from the previous week
in accordance with the customary
post-holiday period.
- Building permits for the week
totaled $877 900, including two apart
ment houses. December permits ir
the Capital mounted sharply, stand
ing at So, 1873 $40. compared with only
$940,475 for December, 1887. Bank
clearings for the week failed to equal
the mark of a year ago. $22 ,439 ,66e
comparing with 22969 ,943. The
Capital Transit Co.'S total passenger
revenues for the week ended Wed
nesday again showed a gain, $685.
TOT. against $195,196, the Commerce
report stated.
Reporting on retail trade during
the last calendar week of 1888, the
Federal Reserve Board announced
that sales in the Richmond Reserve
district, which includes Washington
we're per cent ahead of the final
week IN 1887, 9 of the II districts re-
vealing advances.
In the last four weeks of 1888 sales
In this Reserve district were also 5
per cent ahead of the previous year
against an average 4 per cent gain
for the whole country In this sum-
mary every one of the II districts
did better than in the previous year
the Reserve Board governors added
Washington Gas Holds at 107.
In one of the largest transactions
on the Washington Stock Exchange
in many weeks, IS shares of Wash
ington Gas Light preferred stock
sold yesterday at SLOT share, un-
changed from the recent high mark
The stock has been the leader on
the exchange ever since the COM
= pany refunded an $850O,0O issue of
S per cent bonds. The new bonds
were sold to insurance companies,
this action causing heavy demand
for the stock among the Capital S
investors.
Washington Railway & Electric
preferred was also in lively demand
yesterday at strong prices. The
market opened with 80 shares selling
at 1854. Seven more moved at 116.
followed by 33 at 115s4. The last
sale of 20 shares registered 11512.
Bond issues were neglected. Due
TO the higher dividend, Washington
Gas common closed the week with
% bid and 81 asked, both sharp ad-
vances. The final bid for Capital
Transit was 634, with IA asked.
Trading was unusually good in
the first week of 1899. About Is
issues appeared on the board. Riggs
National Bank common sold at 274,
up points, and American Security
& Trust stock commanded 255, up 2
points.
Associates Honor StabIer.
Albert Stabler, who in the past so
years has been responsible for plac-
ing about $7,500,0O0 in insurance on
the lives of prominent Washing
tonlanS, was given luncheon yes
terday by Harold D. Kraft. man
ager of the Provident Mutual Life
Insurance Co.'S office here. Mr..
Stabler joined the Provident Mutual
staff on January 7, 1889, and from
1907 to 1918 was the company's gen.
eral agent. He is now a personal
producer.
AS former head of the Friends
Meeting House at 1911 I street N. w.,
he has long been active in the work
OF that faith. Former President
Hoover is among his closest friends.
He was also close friend and great
admlrer of President Theodore
Roosevelt, who presented him many
years ago with very fine riding
saddle.
Among friends honoring him yes
terday was Charles E. Bond of Sandy
Spring, Md, his first policyholder so
years ago. Franklin c. Morse of
Philadelphia, manager of agencies.
presented Mr.. Stabler with a gold
pin as reward for his loyal service.
Real Estate Bonds Climb.
Ten Washington real estate bond
issues gained 11.2 per cent during
1888, according to survey just COM
pleted by Barr & Co., Inc. The same
, issues, from the beginning of 1888 to
the end of 1888, advanced 168 per
cent, the survey states in reviewing
the siX-year period.
The average market price of the
bonds on January l, 1888, was q
per 500 unit, moved to % in 1884,
to A in 1885, to 81 in 1886, to 70 in
1887, dropped to 671 at the begin
ning OF 1888 and registered 746' on
the flrst business day of 1899. The
gain during 1888 was better than
that recorded by many other East
ern cities. The average gain of $50
ISSUES in these cities was only 2h
per cent for the year.
AS a group, hotel issues were sub
stantially ahead of the rest of the
field for the year 1888, the survey
adds. Theater issues moved up
more than 8 per cent and apartment
house issues S per cent.
Work of reorganizing defaulted
real estate bond issues has been
practically completed, with only IL
OF the ESQ issues not yet reorganized,
the Barr report says.
Heard in Financial District.
Sales of United States savings
bonds reported for January 3, the
first business day of the 1889 cal
endar year, totaled $11 ,583, $50 ma
turity value, which represents a new
high for daily sales since the savings
bonds were first offered on March /,
1885. This sale brings the total sold
to date to maturity value of 50 ,086,-
810,380.