Evening star., 1939-11-05
Further Upturn
In Bank Loans
Is Reported
Richmond Reserve
Finds Volume Far
Ahead Of Year Ago
By EDWARD c, STONE.

y
creased more than the advance in
loans over October year ago, the
report added, demand deposits
moving from SAT- ,987 900 a year ago
to $3.50, ,928,OOO.
Debts to individual accounts in
"a fifth district cities rose per
cent in September over August debts
and 8 per cent in comparison with
debts in September, 1898. Debts
in Washington totaled 1868 ,294 900,
compared with 1921 ,49O, 900 in Sep
tember, 1898, or IA per cent.
d. C. Building Permits on.
Showing the usual seasonal de-
cline from the summer volume, the
estimated valuation of permits issued
IN 81 fifth district cities totaled
$7,76596 in September. compared
with $10030,113 in September, $685.
Washington led in permit valua-
ton with $2,874,570 which was a
decrease of nearly $2,5OO,0OO from
September a year ago, this drop
being the main reason for a slump
Of % per cent for the whole district
Permits issued in the nine months
in the fifth district totaled $91 1885,
608, or 40 per cent under the like
1888 period.
Construction contracts actually
awarded in the District of Columbia
in September amounted to $3,172,-
600, against $4,068, 900 in September,
1898, a decline of 20 per cent. This
was contrary to the average gain of
IS per cent for the entire fifth dis
trict.
Total contracts awarded from
January through September in the
fifth district totaled $302, ,781 900 this
year and $216358 900 last year,
gain of 40 per cent in 1889, the re-
port said.
War Boosts Exports Of Coal.
The European war has brought
about substantial increases in ex-
ports Of coal, cotton mills have in
creased daily operations and yarn
mills shipped more yarn in Septem-
Der than they could produce. Many
fewer failures were noted than q
year ago. Tobacco manufacturing
continued ahead of 1898, the highly
favorable bank survey stated.
Sales of new automobiles in WASH
ington in September totaled 1910,
against 712 in September, 1898, an
increase of SO per cent, the Reserve
bank reported.
Auto sales in the Capital for the
first nine months of 1899 totaled 49,
191 cars, compared with 1858 in the
like period last year, a jump of So
per cent, the report added. In the
whole fifth district sales of 10,988
cars in September were so per cent
ahead of last year and registration
of 149,4 ,443 new passenger cars in the
nine months was so per cent ahead
of 1898.
Maryland reported a gain of 121
per cent in September sales and 81
per cent in the nine months, while
Virginia's September sales were up
% per cent and the longer period SO
per cent. Sales were down from Au-
gust on account of delays in arrival
of new models.
Employment on Upgrade.
Employment also broadened in
September and the first half of Oc-
tober, the bank review says. In
the District of Columbia there was
a gain in the number of pay rolls
of 56 per cent and in amount of
pay rolls of 80 per cent.
Sales of 80 department stores in
the whole district amounted to $10,-
326,177 against $7,4O9 1862 in August,
. sudden pickup of 80 per cent and
$9,657,064 in September last year,
making the gain this year of 7 per
cent.
Sales of 199 wholesale firms in the
fifth district in September totaled
SIS, 5,879 900 against 1892 900, an in
crease Of Is per cent. Furniture sales
were up per cent over August and
10 per cent over September, 1898,
the survey concluded.
Nolan Investment Chairman.
District Committee No. II, Nation
al Association of Securities Dealers,
Inc, which includes Washington,
Maryland, the Virginias and North
Carolina, organized for the coming
year at a meeting here yesterday,
with the election of James Parker
Nolan of Foliger, Nolan & Co., as
chairman.
Robert Garrett of Baltimore was
named vice chairman and William
Frazier of Davenport e. Co., Rich
mond was chosen secretary. Other
members elected to the committee
were Y. E. Booker of the Washing
ton investment firm which bears
his name; Oscar Burnett. Green's
boro. N. c.: Herbert W. Schaeffer of
Baltimore, and Edward K. Dunn,
also of Baltimore. Mr.. Booker was
elected for two-year term and Mr..
Nolan for three years.
Do0ley New Finance Chief.
Aubrey o. Dooley, assistant trust
ohicer of the Hamilton National
Bank, was recently appointed chair
man of the Finance Committee OF
Washington Chapter, American In
stitute of Banking, by Francis E.
Robey, chapter president.
Others on the committee are:
Raymond L. Jones, National Metro
politan: j. Earle McGeary, w. B.
Hibbs & Co.; Walton L. Sanderson,
Hamilton National; Paul j. Seltzer,
American Security e. Trust Co.
Mr.. Jones is treasurer of the chapter
and the other members are past
presidents.
The Board OF Governors of the
Washington Stock Exchange voted
yesterday to close the exchange next
Tuesday when the New York Ex-
change will be shut down on account
Of the New York elections. The
Washington Exchange will also be
closed Saturday, Armistice Day.
Yesterdays trading was limited to a
sale of Capital Transit stock at 12Ea,
OF from sales earlier in the week
ct II.