Evening star., 1939-03-08
Wholesale Shoe Sales
Top All Other Lines
In Fifth District
Reports of 195 Firms
For January Compared
By Reserve Bonk
BY EDWARD C. STONE.

trlct, which includes washington,
show that shoe sales led all other
lines in January, with A per cent
gain over January, 1888, according
to the Richmond Reserve Bank.
Automobile supplies came next
with an advance of So per cent, fol-
lowed by electrical goods, which
registered IS per cent gain. Other
gains were less striking, although
industrial supplies were up II per
cent and plumbing and heating
sales also up II per cent.
Drug sales were up 2 per cent,
hardware, l per cent; paper and
products, 8 per cent; tobacco and
products, 9 per cent, and miscel-
laneous sales, 8 per cent. The
average for the 1876 firms in all
lines was an advance of 8 per cent.
Dry goods sales were S per cent
lower than year ago and groceries
dropped off per cent. Stocks on
hand at the end of January were
lower in almost all lines than in
January, 1888, the report said.
The trade review adds that retail
furniture sales in the Fifth District
were per cent higher than year
ago. They were up per cent in
Washington, Is per cent in Vir-
ginia, but down 3 per cent in Mary
land.
National Bank for 10 Years.
The Liberty National Bank was
nationalized 10 years ago this week,
or NGoroI, II 1Oo0 DrociJort NJ II
Calnan commented today At that
time Liberty as savings institution
had approximately 100000 in de-
posits. Since then deposits have
grown to more than $7,500,000. The
late George o. Watson was the
founder and first president of the
institution. and for many years was
the financial district. The bank
has made excellent progress under
the present management, with Pres
ident Calnan at the helm
Normal Spring Rise Seen.
Business has been going through
q process of consolidating recent
gains, according to Fenner g. Beane,
stock exchange members, and trends
In the various major industries sug-
gest that a normal spring rise may
begin this month. Not much more
than the usual seasonal improve
ment seems likely, however. Sew
eral parallels are drawn between
early 1896 and early 1889 which sug-
gest that the average rate of in
dustrial production this year might
be similar to that of 1896.
OF the % major industrial groups
and their Al subdivisions surveyed
by Fenner & Beane in its monthly
review, the outlook Is now considered
relatively favorable for 10 groups,
unfavorable for 6 groups and of
only average promise for the re-
naming divisions.
Griswold to Address Bankers.
Robertson Griswold, vice president
Of the Maryland Trust Co. of Balti-
more and vice president of the
trust division of the American
Bankers Association, will address
the auditors and fiduciaries sections
Of the District Bankers Association
at their annual joint dinner meeting
at the Lee House tomorrow night.
He will speak on Trust Publicity"
and introduce certain accounting
problems encountered by trust de-
partment auditors.
His subject, being of mutual in
terest to both sections, has evinced
unusual interest, according to Will
liam Mehler, secretary CT the audi
tors group, who states that over 80
representatives are expected to
attend.
Gerald E. Keene, assistant cashier,
Second National Bank, and j. Eliot
Moran, assistant trust officer, Amer
!can Security & Trust Co., are, re-
spectively, chairmen Of the auditors
and fiduciary sections.
Ogilvie Heads Speakers Unit.
Stuart S. Ogilvie, assistant cashier,
Second National Bank, has been ap-
pointed chairman of the Public
Education Committee of Washing
ton Chapter, American Institute of
Banking. The purpose of this COM
mittee is to present prepared talks
pertaining to the functions and ac-
tivities of banks to students of
grammar schools, high schools and
colleges.
The following are working with
Mr.. Ogilvie and will from time to
time give talks this year: Richard
A. Norris, vice president, Lincoln
National Bank; Horace F. Stokes,
cashier, National Metropolitan Bank;
Norman E. Towson, assistant treas
urer, Washington Loan g. Trust
Co.; Hans Ireland, assistant treas
urer, American Security g. Trust
Co.; Wallace Schreiner, First Ma
tional Bank, Alexandria, and Roland
Carr, Riggs National Bank.
Fire Insurance Losses Cut.
There was a gradual decline in
fire insurance losses in Virginia
from 1890 to 1886, but in 1887 losses
were 36 per cent of the premiums
written, representing approximately
an increase of 20 per cent over the
previous year, George A. Bowles,
Virginia State insurance commits
sioner, said in an address at Lynch
burg last night. He expects a fur
ther increase in the 1888 figures
when they are completed.
Speaking on the Trend of Fire
and Casualty Insurance." he de-
clared that rate making for fire
and casualty insurance, by its very
nature, can never be reduced to an
exact science, but he said substantial
progress had been made along these
lines. according to the Associated
Press.
Heard in Financial District.
John Humphrey, jr., for the past
eight years identified with Peoples
Drug Stores, Inc, at the general
offices, has been appointed special
representative of the Berkshire Life
Insurance Co., General Agent j. E.
McCombs announced today. Mr..
Humphrey, native of Washington,
received his education in the public
schools here and at Dewitt Prepara-
tory School, later attending South