Evening star., 1939-09-06
Capital Bank Debts
Climb 10 Per Cent
Above Year Ago
Furniture Sales Here
Rise 8 Per Cent Over
July, 1888
By EDWARD C. STONE.


review by the Federal Reserve Bank
of Richmond present further evi-
dence of steady Improvement in
Washington, the review showing
that debts to depositors' accounts
in the banks here in July totaled
$266. .293 900, compared with $242,-
216,OOO in July, 1888, an increase of
10 per cent. The debit total for the
whole fifth district of $1,221, TAB 900
was 8 per cent ahead of the like
period a year ago.
Retail furniture sales in Washing
ton in July were 8 per cent better
higher in the first seven months OF
the year. Maryland reported similar
sales as 18 per cent better in July
and per cent in the seven months
Virginia sales were up l3 and 10
per cent, respectively, over the same
periods last year. Furniture sales
for the whole fifth district in July
totaled 1862 1894 VS.. So11 400 in July,
1888, stepping up 10 per cent in 36
stores.
Retail sales in 80 department
stores in the fifth district in July
amounted to S6193O95, as compared
with s6,139,736 in July, 1888, an in
crease of l per cent.
Wholesale Trade Improves.
Wholesale trade scored many not
able advances in July, the demand
for electrical goods leading the mar
ket with At per cent gain over
July, 1888, with second place being
taken by shoe sales, up 46 per cent.
Between June and July shoe sales
mounted go per cent.
Automobile supply sales in July
were l3 per cent better than last
year, drugs were in per cent better
demand, dry goods per cent, gro
ceries per cent and hardware IA
per cent.
Industrial supplies were in espe-
cially strong demand, business being
26 per cent better than in July, 1898.
Paper and paper products were up
5 per cent, tobacco and tobacco
products l6 per cent, and miscella-
neous supplies up per cent.
Average sales for 205 reporting
firms were u per cent above the
July, 1898, mark and off 4 per cent
from June. Dollar sales of the 205
wholesale firms in July totaled SILL
667 900 against 10,384 900 in the like
month in 1898, gain of u per cent.
The review says there were only
35 business failures in the fifth dis
trlct in July, against Sc year ago,
a reduction Of 38 per cent Liabili-
ties totaled S406000 against $4,000
in July year ago, an increase of 10
per cent
Employment in July witnessed
comparatively small changes. In
Washington there was a slump of
80 per cent from June in the num-
Der on pay rolls and 35 per cent in
the amount of these pay rolls, the
Richmond Bank states.
Building, Loan Meet Nears.
The United States Building and
Loan League will hold it's 47th an
nual meeting at Atlantic City, Sep
tember 25-29, many members of the
District Building and Loan League
planning to attend.
Savings and loan executives, ap-
pralsers and attorneys, supervisors
of these institutions and Federal
Home Loan Bank presidents will
have an active part on the program
which will be devoted especially to
home mortgages and investment
mems interests.
Another approaching convention
In which there is a good deal of To-
cal interest is that of the Financial
Advertisers Associa ton, to meet at
Toronto, Canada. Robert L. Flather,
assistant secretary of the American
Security & Trust Co., will be one of
the Washington representatives.
George T. Howard, Walter T.
Lawton, George c. Campbell. H.
Lawrence Choate and Miss Elinor
M. Hickerson are the Washington
delegates in attendance at the
Leaders Convention of the Mutual
Benefit Life, being held this week at
Spring Lake, N. j.
Further Wild Stock Trading.
Brokerage houses in WASHINGTON
were even more crowded today than
they were yesterday as the feverish
trading continued on the New York
Stock Exchange. Most of the offices
had standing room only and there
was very little of that.
Brokers were swamped with Or
ders, the transluX moved at a furi-
Gus pace and part of the time was
behind the market. Investors and
spectators saw trading far exceed
100000 shares in the first hour.
The brokerage firms did more busi-
ness here yesterday than they
usually do in whole week Lead
ing brokers in the city are cautious
about making predictions. There is
comparatively little clear thinking
when the market is as wild as it is
now, brokers say. An advance in
war stocks had been expected, but
most flnanciers had not expected
such terrific upsurge as took place
yesterday.
Bankers Conclude Vacations.
John A. Reilly, resident of the
Second National Bank, is back at
MS desk after months vacation
in Florida. He had a cottage at
Miami and reports business -four
lshlng in Florida even at this season
of the year.
James D. Barrett, auditor of the
American Security & Trust Co.. has
returned from vacation passed
at Cape May, He plans to visit
the New York Fair shortly.
Harry w. Gauss, assistant trust
officer at the Washington Loan &
Trust Co., has returned from an ex-
tended vacation automobile tour.
B. Gwynn Dent, assistant cashier
of the Riggs National Bank, has
returned from vacation trip to the
Thousand Islands w. H. Taylor,
another assistant cashier, is back
from Fairhaven, Md.
Victor B. Deyber, chairman of the
hOar ri Of tho Cnoo,,I NotionoJ Da.,x