Evening star., 1939-04-08
206 Wholesale Firms
Find Electrical Goods
InLive|iest Demand
Industrial and Auto
Supplies Next in List,
Bank Survey Reveals
By EDWARD C. STONE.


Net sales of 206 wholesale firms
In the Fifth Federal Reserve Dis
trict in February disclosed a gain
of 40 per cent for electrical goods
over February, 1888, according to
the Richmond Reserve Banks
monthly review. Next in demand
came industrial supplies with %
per cent pickup. automobile sup
plies with % per cent advance
and shoe sales which increased 81
per cent. Sales in all wholesale lines
revealed a gain of per cent over
the same month last year.
Wholesale drug sales were up 5
per cent, paper and paper products
] per cent. tobacco and tobacco prod
ucts 7 per cent. At the same time
the demand for drygoods was per
cent lower than last year, grocery
sales were down per cent, hardware
4 per cent, plumbing and heating
supplies l per cent and miscellane-
GUS goods per cent
The 206 firms announced that
sales totaled S9,6l3,000, against So
489, 1000 last year, and $l0.l38,000 in
January of this year. Sales COM
pared with January were down 3
per cent.
Turning to retail sales, the Rich
mond Bank states that furniture
sales in Washington in February
were l per cent better than a year
ago, and in the first two months
OF this year were up Al per cent.
Sales in Virginia were per cent
better in February, but in Baltimore
took IN per cent tumble. In the
two months Virginia made a gain
OF IA per cent. Baltimore was down
per cent.
February furniture sales in the
whole fifth district were not quite
up to last year but the two months
average stepped up 39 per cent, the
survey added.
Insurance Firm Makes Records.
New insurance, assets and surplus
of the Mutual Fire Insurance Co. of
the District of Columbia. 1901 H
street. reached the highest figures
in the history of the company in
1888. it was announced at the an
nual meeting just held. Surplus
crossed the $4,000 mark, Secretary
L. Pierce Boteler reported. The
company is now "a years old.
Charles M. Boteler and Charles
F. Crane were reelected directors
for three years, the other members
of the board being Charles Kattel-
mann. Mr.. Boteler, Henry E. Bit
finger William K. Hill and Robert
E. Buckley.
The officers are Charles Kattel-
mann, president L. Pierce Boteler,
secretary; Henry E. Bittinger treas
urer, and William R. MacGill, as
sistant secretary.
Secretary Boteler told the policy
holders that non-assessable policies
had been one of the chief reasons
for the increase in business. Assets
are now S436, ,329.80.
Levels of 1897 Possible.
Noting that industrial production
in January and February held
around levels at the end of 1888
and in March moved higher, the
United States Chamber of Com
merce says that production indices
suggest that the way may be clear
for advances over series of months
to regain the higher levels of late
1886 and early 1887" The review
adds:
The kind of production is always
significant. The output OF manu-
features that classify as consumers
goods has been increasing and is at
a level at least Is per cent above
the level of the first three months
of 1898.
The production of capital goods
is at a level better than in the early
months of any year since 1880 ex-
Cept 1887, and has recently been
running about so per cent ahead OF
the rate of the first three months
of last year. Production of minerals
as a whole has been holding to the
higher level of the last four months
of 1888.
There are thus evidences of
strength in operation of industries
that will count most in adding to
EMPLOYMENT, and reflection OF these
results in the demand for consum-
ers' goods The cotton used by Amer
lean mills, for example, has been
running in the early months OF
1889 at a third more than during
the corresponding months OF 1888.
"These activities have had their
favorable influences in transporta-
ton, the demand for electric power
and in other directions. There has
been more freight to be carried,
and transportation companies have
had a better chance to show earn
ings.
I'm the first two months of 1899
the railroads of the country had a
net operating income Of S5l,OOO,O0O,
to be compared with S5,0O0 900 in the
corresponding months of 1888"
d. C. Bank Clearings Jump.
For the week ending Wednesday
bank clearings in Washington to-
tailed s27 7272 1861, in comparison
with S26, 500 451 79 in the correspond
ing week a year ago. an increase ot
1882, ,345O8 Compared with a total
of s19,77251562 in the previous
week, local clearings showed an in
crease of 724 per cent.
While many of the investment
houses had only skeleton staffs On
duty yesterday and the brokerage
houses were closed for business, the
Wall Street ticker service was oper-
ated. Usually all tickers are silent
when no quotations are being trans
mitted. Yesterdays service shows
how important present news is con-
sidered from the standpoint of
finance.
Investments in securities in Al
regularly reporting member banks
in IL fifth district cities increased
by S16,661 900 between February Is
and March IS, this year, and de-