Evening star., 1939-05-21
D. T.. Store Sales Hold
IS Per Cent Above
Same 1888 Period
Log Behind Week Ago;
Bank CIeorines and
Building Gain
By EDWARD C. STONE.

substantially ahead of the CORE
spending week year ago, the Com.
merce Department reported yester-
day in reviewing conditions in &c
key cities.
Department store sales in the
Capital disclosed an average gain
OF 1926 per cent, one store noting an
advance of 80 per cent. All but one
store had gains of per cent OF
better, the report added. Compared
with the previous week, however
trade was off ST. per cent.
Bank clearings totaled $25.O79, ,157
In comparison with s23,550,66O a
year ago. At the same time build
ing permits for the week reached
s940, 400, including a s5OO,OOO build
Ing for the Bricklayers and Plas-
terers' Union, compared with only
1884 a year ago.
Total passenger revenues of the
Capital Transit Co. revealed an
other good-sized advance, 1921 ,096
against s21l,8l7 in the like 1893
week. There was very marked in
crease in the number of visitors at
the Smithsonian Institution over
the previous week and last year.
All other leading cities in the 5th
district reported trade gains owe,
1888, except Charleston, S. c.
Kane to Discuss Mortgages.
Harry j. Kane, jr., vice president
and title officer of the Columbia
Title Insurance Co., will address the
District Bankers Association an
nual convention at Hot Springs on
some OF the practical problems to
be taken into consideration in plac-
Ing a mortgage on real estate in
the District of Columbia, such as
matters affecting title to property,
physical characteristics, protective
clauses deeds of trust and various
types of title reports.
A native of Washington, Mr.. Kane
was graduated from Gonzaga in
1920, Holy Cross College with A. B.
degree in 1924, Georgetown Law
School in 1928 and has been with
the title company for IA years.
He Is a member of the District
bar, has given many lectures on
real estate law, is on the faculty of
Washington Chapter, American In
stitute of Banking, and professor of
real property at Columbus Univer-
sity.
Controllers to Name Officers.
The District of Columbia Control
OF the Controllers Institute of
America will hold its final meeting
Of the 1889 season at the Carlton
Hotel on Tuesday, starting with din
her at $50 pm.
The meeting will include the elec-
ton of officers for the ensuing year
and the presentation of reports from
retiring officers. 1t will conclude
with discussion on the subject
"Budgetary Control"
William r. Little of The Evening
Star Newspaper Co.. president of the
local control, will preside.
Insurance Expert Booked.
John Marshall Holcombe, jr.,
manager of the Life Insurance Sales
Research Bureau at Hartford, Conn,
for the past 20 years. has been Sc
cured as speaker for the May lunch
Con Of the District Life Underwriters
Association at the Willard next
Thursday, it was announced yester-
Gay. He is one of the most widely
Known insurance men in the coun-
Try and usually speaks only to ex-
Ar,1tiuoc ori
Three new association directors
are also to be elected at the coming
meeting. They will be selected from
these six members, who have already
been nominated: Roger L. Baldwin,
Northwestern; Joseph A. Barbeau,
Acacia; Paul F. Grove, jr., Home
Life; Ray D. Hotchkiss, Phoenix
Mutual; John D. Marsh, Lincoln
National, and Custis T. Martin,
Equitable.
1t is also announced that the
Hartford College of Insurance
first degree-granting, postgraduate
school in this country devoted en-
tirely to insurance training, has
just been established and will begin
instruction next September under
sponsorship of the Hartford College
of Law and a group of insurance
executives.
Transit Stock Off Slightly
Capital Transit stock sold frac-
tionally lower on the Washington
Stock Exchange yesterday when II
shares moved at 145s There were
two 10-shares in the blue chip Po-
tomac Electric Power 51a per cent
preferred stock at 113
Potomac Electric Power preferred
Issues, Washington Railway & Elec-
trio common and preferred and
Lanston Monotype is now being
quoted ex-dividend Dividens, al
ready voted, will be paid shortly.
Capital Traction SIS reached a new
1889 high mark during the week
when they sold up to 93A. Mer-
genthaler Linotype made a new low
for the year at 1872.
L. E. Birdzell, general counsel of
the Federal Deposit Insurance Corp
will be one of the principal speakers
at the annual convention of the
American Institute of Banking, at
Grand Rapids, on Wednesday, June
Z. He will discuss the affairs of the
insurance corporation at one of the
conferences devoted especially te
bank operations. With the insurance
corporation a long time, he is one
Of the best informed members Of
the organization.
AS the program now stands
Washington will furnish two speak
ers, chairman of one of the confer
ences and contestant for oratorica
honors. The other participants are
!. j. Roberts, Edward M. Blaiklocl
and ROLAND T. Carr.
Heard in Financial District.
"While it is difficult at this time te
estimate results for the month, I ex.
pect operating revenues of the com
pany to be better than in April" G
D. Brooke, president of the Chesa