Evening star., 1939-03-07
Capital Auto Sales
Climb 15Per Cent
Above Year Ago
January Total Reaches
1882 Against LIS
In 1888 Month
BY EDWARD C. STONE.

q year ago, the Federal Reserve Bank
of Richmond reports in the latest
monthly review. January sales
reached 1882, against LIS in Janu-
ary year ago and 2,137 in the same
month in 1887.
Details from the Richmond Banks
review, just received here, show that
auto sales in the whole fifth dis
tirct Of January gained 80 per cent
over last year, the increases varying
from 63 per cent in South Carolina
to the Is per cent noted in the Dis
trict of Columbia.
January sales in Maryland were up
81 per cent over the like period
year ago and Virginia reported an
advance of 25 per cent. While the
increase in automobile sales began
last October after a decline since
April the recovery has long way to
60 yet to get back to the 1887 figures.
Total sales in the whole fifth dis
trict in January numbered 1871
against 9,916 in January, 1888, 80
per cent gain.
Construction Brightest Spot.
Construction furnished the most
favorable development of the month
in the fifth district, the Richmond
Bank says. Building permits issued
and contracts awarded in January
continued at the relatively high level
Of the past few months.
Permits issued in 81 fifth district
cities totaled S10.26S, 1893, an increase
of 149 per cent over permits in Janu-
ary, 1888, and the highest amount for
any month since April, 1880. WASH
S4,473649, United States Government
work not included. Baltimore was
second, % of the 81 cities reporting
gains.
Construction contracts awarded in
January in Washington totaled So
$4,000, against S1.565 900 in jan
uary, 1888, gain of 129 per cent.
Contracts awarded in Maryland to-
tailed 5000 900, an advance of 137
per cent. Virginia figures were
lower
Contracts awarded for all types
of construction in the whole dis
trict, including both rural and ur-
ban projects, totaled S25 ,613,0 900, an
increase of 80 per cent over S19,-
438,O00 in January. 1888. OF total
awards, 40 per cent represented resi-
dental construction in January,
1899, and only "a per cent in Janu-
ary, 1888.
Sales in 81 department stores in
the district in January totaled So
544,1O1, in comparison with s6,713,-
377 in January year ago, off 0.03
per cent. At the same time sales by
1876 wholesale firms amounted to
S11,067 900, compared with S10,256,-
600 year ago, or gain of 8 per
cent.
Bank Debts Reveal Gains.
Debts to individual accounts in
"a fifth district cities were l per
cent higher than in January, 1888,
the first time since November, 1888,
in which debts exceeded those of
the corresponding month of the pre-
vious year. january debts in the
District of Columbia totaled $685.
O68,000, an increase of per cent
over the like period a year ago.
Business failures usually rise in
January over December as result
of the pressure of year-end settle
mentS, and in both the fifth district
and the United States the number
Of insolvencies increased this year,
but liabilities involved declined.
The Richmond report states that
employment increased in January
over December in the fifth district.
Many extra workers were let off
after the holidays, but construction
and road work absorbed a good
many of them. In Washington there
was a drop of 10 per cent in the
number employed and rs per cent
In pay rolls, from the December
figures, the report disclosed.
Huffman's Office Wins Trophy.
The presidents trophy offered by
the Detroit headquarters of the
Burroughs Adding Machine Co. to
the agency showing the greatest
percentage of increased business has
been won by the Washington Office,
according to advices received here
last night. The award, handsome
bronze plaque on a walnut panel,
is to be retained by the local office
permanently.
E. l.. Huffman, who has been in
charge of the Burroughs Offices here
for the past 10 years. said that his
staff maintained position near the
top all during the contest which
lasted three months and forged
ahead to win comfortably over rival
cities in the final days of the COM
petition.
The Aetna Casualty & Surety Co.
held a luncheon meeting at the
Wardman Park Hotel this noon, fol-
lowed by an afternoon session de-
voted to the latest developments in
the insurance field. Guy E. Mann,
local agency manager, was general
chairman and most of the speakers
were from the head Office in Hart
ford. Conn. Howard Startling of
Washington, manager of the Asso-
citation of Casualty and Surety
Executives, was to speak on Recent
Legislative Developments"
Heard in Financial District.
FLOYD +. DAVIS, president OF the
Lincoln National Bank, is another
Washington financier who has gone
to Florida for winter outing. Mr..
Davis left here Saturday by motor
and will spend several weeks at
Miami.
Hints that the Securities and Ex-
change Commission may ease up
some of the regulations on short
selling gripped the attention of
brokers in Washington offices today.
The changes are suggested on the
ground that the rules are so rigid
that they are not "in the public in
terest." Brokers are hoping for
early developments.
The lobby of the National Savings
& Trust Co. has been entirely re-
decorated the unrk receivi,o y,,,,rt,