Evening star., 1939-02-26
Big Gain Shown
By D. {. Store
Sales in Week
17.1Per Cent Increase
Lifts Volume 1885
Above Year Ago
By EDWARD C. STONE.

ment stores during the last week
scored a notable gain of 1926 per
cent over the like period a year
ago and registered a still higher
increase of III per cent over the
previous week this year, the De-
partment of Commerce reported yes
terday in review of business con-
ditions in IS key cities.
All other reporting cities in the
Fifth Federal Reserve District en-
joyed increases in retail trade over
last year, with the exception of
Baltimore, where the volume con-
tinued slightly disappointing. In
addition to sales increases, Charles
ton, S. c., reported that hotel busi-
ness in the first three weeks of
February was far ahead of last
year.
Washington bank clearings were
better than year ago, $19 1857 .483,
comparing with SIT 7,4S8,4 ,429. Build
ing permits were also considerably
higher. the total OF $52O,2OO, includ-
ing $225 900 for an apartment house,
comparing with $358,4OO last Year
Total passenger revenues of the
Capital Transit Co. for. the week
ended Saturday. February 18,
amounted to $219,133. in comparison
with the lower figure year ago of
S2l1 .556. the Commerce report stated
The Commerce review says that
trade in the South was extra good,
Atlanta having gain of 10 per cent.
The Mardi Gras celebration in New
Orleans brought $4,000 visitors,
greatly stimulating the movement of
consumer goods.
d. c. Store Collections Lag.
Washington people did not pay
their bills as fast in January as
residents in other sections of the
Fifth Reserve District, the Bank of
Richmond reported yesterday. Of
receivables due the first of the
month. 288 per cent was collected
while the average for the whole dis
trict was 81 per cent.
Stocks of goods on hand in
Capital stores at the end of Janu-
ary were 5 per cent lower than at
the close of December. Stocks were
per cent lower in Richmond, off 7
per cent in Baltimore and 4.8 per
cent lower in the whole district.
Stocks in Washington were fraction
ally higher than at the same time a
year ago, the report said.
Trade in 80 department stores
In the fifth district was 25 per cent
lower than in January, 1888, the
survey concluded.
Echoes From Bank Conference.
Philip A. Benson, president of
the American Bankers Association,
told the regional banking conference
at Minneapolis that jublic antago-
nism toward business is waning. He
has recently noted important
changes in public sentiment, he
said. For my part" he concluded,
II am an optimist. I believe we
are coming back to earth and that
the best years of America are
ahead"
Henry S. Kingman of Minneapolis
said that banks are making a mis-
take in not going after savings &C
counts with more vigor. He de-
clared great deal of savings busi-
ness is going to other lending agen-
cies In the future. Even if the
banks have more deposits than they
want, they should 60 after young
people and get as many more saw
ings accounts as possible, he said.
Thrift service should not be given
up, even temporarily.
Andre j. Perry, Wisconsin bank
er, declared banks should extend
checking service facilities into the
lower income brackets.
Building, Loan League to Meet
A large turnout is expected Tues
day, 1890 pm, at the Raleigh Ho-
tel for the monthly meeting of the
District of Columbia Building &
Loan League. According to Arthur
G. Bishop, president, several mat
ters of Importance are on the sched-
ule, one of which is the arrange
ments for the annual banquet to
be held March 25.
Martin A. Cook, general chair
man of the committee on the han
ding of the affair, will report on the
progress made by his colleagues.
The banquet will be held at the
Mayflower, and guest list of over
500 is anticipated.
Heard in Financial District.
William Gordon Buchanan will
address District of Columbia Con-
troll, Controllers Institute of Am
erica, at the February meeting Tues
day evening at the Carlton Hotel
His subject will be Capitalism in
Democracy" w. R. Little, presi-
dent of the local control, will pre-
side at the meeting, which will fol-
Iowa dinner starting at $50.
Capital Traction SIS sold at 1874
on the Washington Stock Exchange
yesterday, a $500 bond changing
hands.
Joseph A. Doyle, manager of Co.
lumbia Wholesalers, Inc, has re-
turned from a radio and television
convention at Palm Beach. In
creased business during the rest of
the year was forecast by the dele
gates.
Mariner S. Eccles, chairman of
the Federal Reserve Board, has re-
turned from Chicago where he
made an address. and New York
where he attended meeting of the
officers of the New York Fedora,
Reserve Bank.