Evening star., 1939-01-29
D. {. Store Sales
Up 10Per
From Week Ago
Sharp Recovery Lifts
Volumes 3.76 Per Cent
Above 1893 Levels
BY EDWARD C. STONE.


stantial gain of 1899 per centsover
the corresponding week a year ago
and an advance of 376 per cent over
the previous week this year, the
Commerce Department reported
yesterday in reviewing trade condi-
tions in SO key cities. One depart
ment store announced pickup OF
27 per cent over the same period in
1898.
All other reporting cities in the
5th district experienced increases
in retail trade over the preceding
week and a year ago, with the ex-
ception of Baltimore Bitterly cold
and unsettled weather in Baltimore
caused the dollar volume of trade tc
drop below both the previous week
and the corresponding week last
year.
Washington's trade gains were re-
flected in improved bank clearings,
the weeks total standing at $2l,-
119,363, against $19,365 ,664 a year
ago. Building permits remained
ahead of last year. $350,500, COM
pairing with S3O6,4OO.
The Capital Transit Co. again re-
ported an increase in passenger rev.
enues, S223,59 compared with $780,
525 year ago, the Commerce re-
view stated.
Acacia Reports Splendid Year.
In his annual report to the di-
rectors, President William Mont
gomery of the Acacia Mutual Life
Insurance Co. stated that insurance
in force and assets have reached
the highest point in the company's
history. New paid for business in
1888 exceeded S38,0O0,O0O, bringing
the total insurance in force to over
$401 100000 an increase of more
than $14000,000. Assets increased
to s80,000,000, an increase of ST.
100000.
Further progress in the company S
conservation program was reported
by Mr.. Montgomery. Acacia al
ways has laid particular emphasis
upon conservation" he said, feeling
that lapsed policy represents a
complete economic waste, with the
policyholder himself the largest
loser. During the past year we
continued to make very important
advances in conservation activities" "
Discussing investment and home
ownership promotion activities in
the Washington area during 1898,
Mr.. Montgomery stated that "the
company substantially increased its
investment in first mortgage loans
on single-occupancy dwellings, evi-
dencing our belief in the principle
of home ownership and our willing
ness to back up that belief in the
most practical way.
"At present the company has in
vested more than 25,000000 in first
mortgage loans in the Greater
Washington area. In conformity
with our policy the company intends
to continue its plan of monthly pay
ment loans," the annual report
stated.
Liberty National Stock Up.
Liberty National Bank stock fig
ured in 10 and 5 share sales on the
Washington Stock Exchange yester-
day at $3.50 a share, a rise of %
points above the 1888 close. 1t was
the first sale this year in this ISSUE
In 1888 the highest price the stock
reched was $3.50 share.
Ten shares of Washington Gas
Light preferred sold yesterday at
1861, against good many recent
sales at 107. A single share of Po-
tomac Electric Power 6 per cent
preferred moved at lis and the 5l2
per cent preferred registered a single
share sale at 1l4l2. Capital Trac-
ton 5s came out at "a on a $500
transfer.
Six stocks on the Exchange are to
pay dividends shortly, Washington
Gas common, Riggs National prefer
red, National Savings & Trust,
Washington Loan & Trust and
American Fire Insurance.
Huge Note Oversubscription.
The Treasury Departments offer
ing of $10O,000,O00 United States
Housing Authority 13s per cent five
year notes, the first public financing
by that agency, were overSubscribed
approximately q times.
This represented the highest rate
of oversubscriptioni in the history of
the Treasury. The previous high
rate was in October, 1882, when an
issue of $450,00O0O0 Treasury notes
was oversubscribed 1872 times:
Subscriptions to this new issue.
as reported by the Federal Reserve
banks, amounted to S2,775,0 100000.
Bank Women Hold Meeting.
The Bank Women's Committee of
Washington Chapter, American In
stitute of Banking, had a luncheon
meeting yesterday afternoon at 24O0
Sixteenth street in honor of the
speakers who have previously ad-
dressed the group at forum sessions
along the theme of Your Personal
ity and Mine" The affair was very
largely attended and was under
supervision of Miss Rose Royce of
the Washington Loan & Trust Co.
Loan Students Resume Work.
Washington Chapter of the Amer
ican Savings and Loan Institute will
resume regular classes next We'd
nesday, it was announced by E. S..
Devers, secretary. Subjects assigned
for this semester will cover prin-
ciples of savings and loan opera
ton.
Under the instruction of c. H.
Ellingson, vice president of the First
Federal Savings and Loan Associa-
ton, the classes will be held at 610
Thirteenth street NV. at 7:30 pm.
Alabama Steel Rate