Evening star., 1939-11-19
D. {. Store Sales
Up 81 Per Cent
From Year Ago
Rise Declared Sign
Of Busy Christmas
Season Ahead
By EDWARD C. STONE.

November II, were 112 per cent
higher than in the like period a
year ago, the Federal Reserve
Bank of Richmond reported yes
terday.
81 per cent followed jump of 11.8
per cent in the previous week, the
brisk advances of the two weeks
giving a clear indication of very
heavy Christmas trade soon to
come.
The latest weekly gain for the
Capital was not up to the record
for the whole fifth district, which
revealed an upturn of II per cent.
The fifth district for the four
weeks review was 13 per cent.
Baltimore reported weekly gain
of 16. per cent, group of other
cities boosted trade los per cent,
Baltimore was up IA per cent in the
four weeks and the other cities II
per cent. None of the cities scored
as large gains in the week of No
vember IL as in the previous week.
Good weather and an excellent
consumer demand were the chief
reasons for the weeks fine showing,
the fifth districts II per cent gain
being far above the per cent
average advance for the IL Federal
Reserve districts, the Richmond re-
port disclosed.
Bank Delegation Announced.
Many of the Capitals leading
financiers are planning to attend
the two-day regional banking con-
ference in charge Of American
Bankers Association officers, at
Richmond, December 7-8, it was
learned yesterday. The District OF
Columbia and 13 Eastern States are
to be represented, the program call
ing for five general sessions and an
open meeting to which all the bank
depositors in Richmond have been
invited.
Robert NJ Hanes, head of the A.
B. A, will preside, Washington
bankers who have MADE reservations
for the meeting include Frederick
P. H. Siddons and Paul j. Seltzer,
American Security & Trust Co.;
Thomas j. Groom. Bank of Com
merce & Savings; Clarence F. Burton
and A. Scott Offutt, City Bank; Will
mer J. Waller, W. R. Forster and w.
L. Sanderson, Hamilton National;
M. F. Calnan, Liberty National; L.
P. McLachlen, McLachlen Banking
Corp; c. H. Pope, Munsey Trust Co.;
j. Frank White and Rutherford j.
Dooley, National Bank of Wash
ington; George 0. Vass, H. T. Bis
selle, Nelson B. O'Neal and R. Earle
Haycock, Riggs National; John A.
Reilly and Julius A. Lob, Second
National; Francis G. Addison, jr,
Security Savings & Commercial: S.
William Miller, Union Trust Co.;
George NJ Fisher and Ralph Endi-
colt, Washington Loan & Trust co.
Insurance Sales Stand Out.
The October jump of 81 per cent
in new life insurance written in
Washington placed the Capital
ahead of several other cities in the
country in percentage gains, includ-
ing Chicago, Los Angeles, New York,
Philadelphia and st. Louis, the Hart
ford report states. Detroit stood
even with Washington, Boston was
slightly higher and Cleveland piled
up an increase of AZ per cent.
In the l0-month period, Washing
ton was even with Chicago and Los
Angeles, with per cent gain, and
above New York but behind Boston,
Cleveland, Detroit, Philadelphia and
st. Louis.
In the Capital So per cent of the
life insurance companies did more
business in October than a year ago.
Sales totaled $5,524,000 in October
and s51 1854 900 in the 10 months, the
Hartford reported announced.
Traction Bonds Are Strong.
Capital Traction IS were strong on
the Washington Stock Exchange
Yesterday, 81 900 and $4,000 transfers
being registered at 96l2, a new high
for the year, reached during the past
week
Among the issues now quoted ex
dividend on the board are Potomac
Electric Power 5la and 6 per cent
preferred stocks, Washington Rail-
Wav g. Electric common and pre-
ferred and Lanston Monotype stock.
All are to pay dividends in a few
days.
Capital Transit closed the week
with 141a bid and 1924 asked. The
stock has recently jumped from 12l2
to IS, because of steady improve
ment in earnings and the belief
by many stockholders that the COM
pany will declare dividend before
the end of the year.
Heard in Financial District.
The Safe Deposit Section OF the
District Bankers Association will
meet Tuesday night at o'clock in
the dining room of the American
Security e. Trust Co. g.. E. Fore
man of the Riggs National Bank
will show the motion picture, Sixty
Thousand Day." which has proved
so wonderfully popular in banking
circles.
Washington Chapter, American
Institute of Banking, will hold Its
fall dance at the Kennedy Warren
on Saturday, December 2, Herbert
D. Lawson, chairman OF Enter
tainment Committee, announced yes
terday.
President Hugh Leach of the Fed
eral Reserve Bank of Richmond
stated yesterday that the Farmers
Bank of Mathews, Mathews, Va.
has been admitted to membership In
the Federal Reserve System.
Oscar Wells, chairman OF the
First National Bank of Birming-
ham, and former president OF the
American Bankers Association, has
been elected director of the Louis
vile & Nashville Railroad.
Total loans and investments at
reporting member banks in 10l lead
ing cities increased substantially
during the six weeks ending Novem-