Evening star., 1939-10-28
Capital Store Sales
223 Per Cent Above
1888 for Week
Four Weeks Volume
6.3 Per Cent Ahead
Of Year Ago
By EDWARD C. STONE.

BY EDWARD c. STONE,
Department store sales in Wash
ington in .he week ended October
81, 1889, were 223 per cent higher
than in the corresponding week in
1888, the Federal Reserve Bank of
Richmond reported today.
Sales for the week ended Octo-
Der 81 compared with the week end
ing on October IA, of this year, were
24.4 per cent better, the report
added, while in the four week period
ending october 2l. retail sales here
were 6.3 per cent better than in the
like period in 1898.
Washington stood ahead of the
sales average for the Fifth District
The whole district noted a gain of
20 per cent for the week ending
October 2l, over last year and "a
per cent over the previous week this
year. In the monthly comparison
with a year ago, however, the Capi-
tai was behind the Fifth District
gain of per cent.
A group of other cities revealed
a gain Of 1873 per cent over the
same week last year. 1913 per cent
over the previous week and Ill
per cent over the four-week period
IN 1888. the Richmond Bank an
nounced. The whole report indicates
that the fall trade is moving forward
at very lively pace.
Transit Makes Fine Record.
stockholders of the Capital Tran
sit Co. have reason to take courage
over the showing of the company
so lar this year. Details from the
September report filed with the Pub
Tic Utilities Commission show that
operating revenues increased SILL
2O2.77 over last year There is a con-
slant increase in operating expenses
but in September this outgo for ex-
penses, taxes and depreciation, was
held in firm check being only s34.-
357.03 more than last year.
Revenue passengers in September
numbered 13,915,41O in comparison
with 1886, ,799 in September. 1888,
an increase of l,228,611 or 81 per
cent.
In the first nine months of the
year operating revenues of $685.
2O5.45 included gain of s529 1883.
or 6.4 per cent.
At the same time expenses totaled
$7.967 1878 an increase of 1854
654.29, or 3.4 per cent.
Net earnings of s405, ,735 .O6 against
Slo4 1881. 30 in the nine-month period
last year discloses a gain of $780,
803.26, or 1919 per cent. the most
startling figure in the report.
Revenue passengers in the nine
months totaled 126,9O7 ,389 VS.. 49,
16679 a year ago, an increase OF
7.740,594 or 6.5 per cent and indi-
eating steady swing from private
automobiles to street cars and buses.
Elliott Roosevelt to Speak.
A number of Washington inde-
pendent automobile finance leaders
will attend the Sixth Annual Con-
ventlon of the American Finance
Conference at the Palmer House,
Chicago, November and g. Among
those expected are: Paul L. Apple
by, president of the Seaboard FL
nance Corp; R. NJ Sigwald, presi-
dent Sigwald, Ltd, and Philip Mile
stone, treasurer, Milestone Finance
Corp.
Elliott Roosevelt, president of the
Texas State Network, will speak on
the America Looks Ahead" DR..
David Friday, president. National
Bureau of Economic Research,
Washington. will discuss THE Out
look Regarding Interest Rates; DR..
Melchior Palyi. University of Chi
cago economist, will preview What
The War Will Do To American Busi-
ness" and Barclay Acheson, associ-
ate editor, Readers Digest, will
speak on "We Think"
Speakers on various phases of the
automobile and automobile finance
business will include: Stanley Horn
er, president, National Automobile
Dealers Association.
Loan Concerns Pay Dividends.
Industrial loan companies aff1li-
ated with Southeastern Industrial
Bankers. Inc, will pay regular
quarterly dividends early next
month to all stockholders of rec
ord November /, it was announced
today by Lewis Eisele, vice presi-
dent and treasurer.
City Industrial Savings & Loan
Company of Hyattsville will pay 7
per cent on preferred stock, 10 cents
a share on class B common and
Sl.60 a share on class A common
on November 10; the Southeastern
Discount Corporation, of Washing
ton. will make payments of 7 per
cent on preferred and cents
share on common November 10: and
the Bethesda Industrial Savings &
Loan Co., will pay regular quarter
ly dividend of per cent on pre-
ferred and 10 cents share on COM
mon November II.
Investment Plans Stressed,
In addressing the fiduciaries Sec
ton OF the District Bankers Asso-
citation, Warren r. Forster, vice
president, Hamilton National Bank,
traced the investment activities of
a trustee from the time he receives
an estate until the disposal of unde-
slrable assets and reinvestment of
the proceeds. He stressed the i'm
portance of very definite invest
ment program to meet the measures
OF each trust estate.
Mr.. Forster discussed the merits
OF the two main classes of trust in
vestments, bonds and real estate
mortgages. He presented his views
on Government and municipal OBJ
legations as trust investments and
outlined the factors which should
be weighed in the consideration of
corporate obligations, Concluding his
address with a discussion of present
money rates and their bearing on
trust investments.
Members of the section considered
this weeks meeting one of the best
yet held.
Gas Revenues OFF $4,000.
The monthly report of the Wash
1ngton Gas Light Co.. filed today