Evening star., 1939-05-28
Capital Store Sales
And Building Permit,
Climb During Week
D. c. Bank CIeorines
And Transit Returns
Also Top 1888 Marks
By EDWARD C. STONE.

eughtly above the previous week
1.99 per cent, the Commerce Depart
ment reported yesterday in review
ing trade in 81 key cities. Sales
increases over the comparable week
last year ran from per cent to as
high as % per cent, the report added
Bank clearings in the Capital were
also ahead of last year in the same
week, $20,24398O, comparing with
el8,688,881. There were more visitors
to the Washington Monument than
a year ago, but not quite as many
tourists as in the previous week
this year.
Building permits again stood out
boldly. The weeks permits totaled
S1,291 500, including s275,0O0 for a
greyhound bus terminal, against
only $311,875 year ago. Total pas
senger revenues of the Capital Tran
SIT Co. revealed another weekly
gain, $238 500, comparing with s21s,-
1888, or nearly $4,000 day, the re-
port discloses.
All but one of the other reporting
cities in the fifth district noted
sales gains over last year. Balti-
more reported one of the best re-
tall sales weeks since Easter.
April Postal Revenues Soar.
Postmaster General James A. Far
ley announced last night that postal
receipts for the month of April were
S6l Sal ,799, an increase of $500, 900
over the same month last year.
Postal receipts for the first 10
months of the current fiscal year
totaled $623, ,073 ,996, which represents
an increase Of approximately $1O,-
100000 over the first 10 months of
the last fiscal year.
For the first four months of the
present calendar year postal reve-
nues were $8000,0O0 ahead of the
same period year ago, the Post
master General reported.
In making public these figures
Mr.. Farley took occasion to point
out that there has been rapid
rise in the sales of permit postage,
both OF the metered and nom
metered variety, with sales of this
kind amounting to $l2,000,000 more
Tor the first 10 months of the
present fiscal year than was the case
a year ago.
Atwood to Address Bankers.
Albert w. Atwood, widely known
magazine writer on financial and
economic subjects. and for many
years a resident Of Washington, will
be one of the chief speakers at the
coming convention of the District
Bankers Association at Hot Springs,
Va, it was announced yesterday by
President Hilleary G. Hoskinson.
Mr.. Atwood is a lecturer and
author and this will be the second
or third time he has addressed
Washington bankers. His subject
will be THE Bankers Function in a
Changing Economy" He is a native
Of New Jersey, graduate of Amherst,
has an honorary degree from Prince
ton and at one time taught journal
ism at Columbia, while engaged in
newspaper work in New York.
He is a member of the Board OF
Trustees Of the Madeira School,
Friends School, D. c. Public Library
Travellers Aid Society, Society for
the Prevention of Blindness and the
Social Hygiene Society, and is presi-
dent of the Washington Society of
Fine Arts. Mr.. Atwood is member
of host of other organizations and
clubs, including the Cosmos, Ma
tional Press and Rotary Clubs here
1t was also announced yesterday
that convention reservations are
coming in at a most gratifying rate
The party leaves Washington one
week from next Wednesday after
noon.
Transit Stock Again at Is.
Capital Transit stock climbed up
to Is again yesterday on the Wash
ington Stock Exchange. 1t had sold
fractionally lower during the week
The strength was due to the monthly
report which showed notable gain
in earnings over the same period a
year ago. The stock closed with
141a bid and Is asked.
The Washington exchange will be
closed Tuesday, Memorial Day, when
all the banks, brokerage and other
investment houses will also take a
holiday. The New York Stock Ex-
change and many other big markets
will take the day off.
William NICK. Martin, jr., presl-
dent of the New York Stock Ex-
change, was in Washington Friday
for a conference wieh officials OF the
Securities and Exchange Commis-
sion. Problems which have been un-
der discussion for some time were
further considered.
There was more optimism in the
local financial district during the
week than has been noted in a long
time. The first 1000, 0,000-share day
in several weeks was one reason for
the better sentiment The better re-
tail trade situation all over the
country and the less disturbing situ-
alton abroad were two other reasons
pointed out by brokers.
Financial District Comment.
The sudden death of Maj. Ferry
K. Heath in Detroit caused deep re-
gret among his friends in the bro
kerage houses here. For several
years he was resident partner con-
nected with nationally known New
York Stock Exchange firms. During
that time he became great favorite
In the financial district-"one of the
finest men you could ever meet" as
one broker said yesterday. He with
drew from the brokerage business to
resume Government service with the
r. F. G..
The investment firm of Alexander
Brown & Sons has opened Chi
cago ofice, it was announced yes
terday. One of the Oldest invest
ment banking houses in the country
the head ONCE is in Baltimore
There are only two other offices, one
in Washington and one in New
York.
Directors of the General Electric
CO. have declared a dividend of 2s
->-ks ..~ 49, n&v,, ~, 81 hi