Evening star., 1940-09-05
District Auto Sales
Gain 29 Per Cent
Over Ju|yLast Year
Fifth Reserve Area Shows
Advances for 30-Doy
And 7-Month Periods
BY EDWARD C. STONE.

zoos in July year ago, gain
of 20 per cent, while Washington
sales in the first seven months OF
this year numbered 1879, in COM
parison with 1910 in the same Pc
riod a year ago, an increase of 10
per cent. the Federal Reserve Bank
of Richmond announced today in
the monthly review just received
here.
July automobile sales in the Fifth
District numbered 24,724. a rise of
"a per cent over July, 1889, and sales
in the seven months totaled 154, ,438,
a notable gain of 26 per cent.
Maryland automobile sales reached
1909 in July. At per cent jump
and 31,753 in the seven months, up
80 per cent. Virginia sales made a
still more startling record, July sales
totaling $685. new cars, So per cent
advance and 34.590 in the longer
period. an upswing of "a per cent
Quoting the R. X. Polk figures,
the Richmond Bank states that with
the exception of April, registrations
in July exceeded those of any other
months since June, 1887 while the
July figures have been exceeded
only II times in the past 187 months.
Sales of used cars have not kept
pace, although the market is re-
ported as satisfactory.
d. c. Building Permits Jump.
The Richmond review states that
Washington led the Fifth District
in the value building permits issued
in July. $3.50 ,435, not including
Government work. Baltimore came
second. Permits in 81 cities totaled
$14127, ,489, 80 per cent over June
and 4 per cent above July 1899.
Based on the F. w. Dodge figures,
contracts awarded in Washington
in July totaled S6,197 900 against
S5,871.o00 in July a year ago, an
increase of 6 per cent. The Rich
mond review shows that construc-
tion contracts awarded in the whole
Fifth District in July totaled $751;
$4,000, the highest amount of any
month since April, 1923, when the
record was set at $66,591 900. They
were 63 per cent above July, 1899,
and 96 per cent above June this
year.
Virginia,s July construction con-
tracts totaled S31, ,728,00O, against
S8,814,000 year ago, sensational
increase of 260 per cent. Mary
land contracts awarded totaled
S6,024 900 in July, gain of 80 per
cent over July a year ago.
The Richmond review adds that
Fifth District July contracts were
exceeded in only three months since
complete figures became available
in June, 1921. The high valuations
were chiefly due to publicly financed
construction, partly as a result of
the preparedness program.
Capital Bank Debts Advance.
Debts to individual accounts in
Washington banks totaled S299, ,105,-
900 in July, against $266 ,293 900 in
July a year ago, up II per cent.
The July gain for the Fifth District
was IA per cent.
On August IA the Al reporting
banks had loans and discounts of
S274,6 900, a good sized increase
over S245 ,039 900 on August 16, 1899.
Demand deposits on August IA
totaled s577,754,O00, against s5O2,-
862 900 year ago, while time de-
posits totaled $202, ,774, 900, compared
with S200,1O4,0OO last year
The Richmond review states that
sales in 81 Fifth District department
stores totaled $1,000 ,1O1 in July, IA
per cent larger than a year ago.
Furniture sales alone were up IA
per cent.
Sales of 1874 wholesale firms
totaled S1O,041 900, against $9,117,-
600 in July, 1899, rise of 10 per
cent. Business failures numbered
81, against 35 year ago, up 46
per cent, while liabilities Of s756,OOO
were up Sc per cent.
The Richmond bank states that
employment was on the increase
in July and the first half of August
in the Fifth District. In Washing
ton the number on pay rolls was off
"a per cent and the amount of pay
rolls was down 81 per cent.
Department store sales in WASH
ington in July were 1876 per cent
better than a year ago and in the
first seven months of this year were
6.5 per cent ahead of 1899, the bank
review concludes.
Stein Bros. & Beyee Expand.
Stein Bros. & Boyce have ac-
quired the 23year-old Baltimore
securities business of Westheimer
& Co. Henry F. Westheimer, Milton
F. Westheimer and Sidney F. West
heimer will remain as partners of
Westheimer & Co. in Cincinnati.
Both firms are members of the New
York Stock Exchange.
Stein Bros. & Boyce, established
IN Baltimore in 1853, has long been
active in the investment, underwrit-
ing and brokerage fields. Partners
of the firm are G. Provost Boyce,
Henry G. Evans, William T. Childs,
Milton S. frost, c. Newton Kidd,
Fitzhugh J. Dodson, Robert S. Lans-
burgh and Elisha Riggs Jones.
Stein Bros. & Boyce have main
tanned an Office in the Woodward
Building for several years. West
heimer had an Office here some years
ago.
Mutual Agency 95 Years Old.
The 95th anniversary of the found
Ing of the Washington Agency of
the Mutual Benefit Life of New
Jersey was observed last night with
a banquet at the Chevy Chase Club
and business meeting. Speakers
included Harry w. Jones, a fellow
of the Actuarial Society of America,
Newark; William E. Wright, Toledo,
and Tyler Sawyer, Miami. H.
Lawrence Choate, general agent.
presided. Honors for August were
awarded George l.. Naramore, first
place, and George C. Campbell,
second.
Bergman Starts 37th Year.
Carl j. Bergman, treasurer of the
Washington Permanent Building
Association, entered his 37th year