Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-02-25
D. {. Store Sales
Climb Sharply
During Week
So Per Cent Increase
Over 1899 Period
Reported by Bank
BY EDWARD C. STONE.

FeDruary ~, disclosed a 80 per cent
gain over the corresponding period
year ago and scared 26.5 per cent
above the mark of the previous week
this year, the Federal Reserve Bank
OF Richmond reported yesterday.
In the four weeks ended February
II, the report added department
store sales in the Capital were IL
per cent ahead of the comparable
four weeks a year ago. The weekly
gain over last year was ahead of the
2 per cent average for the whole
Fifth Reserve District but for the
four weeks, the fifth district led with
rise of per cent.
Baltimore sales for the week ended
February II were fractionally lower
than year ago, were up per cent
over the previous week this year
and per cent ahead of last year in
the four week period.
IA group of other cities reported
gains in sales for the week over both
1889 periods and over the previous
1910 week but the increases were
not as large as those for Washington,
the review disclosed.
Banks Silver Anniversary.
The National Metropolitan Bank
of Washington, which recently cele-
brated the 126th anniversary of its
foundation, is now observing its 25th
anniversary of service as national
bank with trust powers and func-
tons
1t was granted the right to act "as
trustee, executor, administrator, and
registrar of stocks and bonds" on
February Is, 1915, by the Federal
Reserve Board, pursuant to the au-
thority vested in the board by act of
Congress approved December %,
1918.
The National Metropolitan holds
the unusual distinction of being the
FIRST national bank in the United
States to receive trust powers, as
well as being the oldest national
bank in the District of Columbia.
Cook Names Special Aides.
Martin A. Cook, general chairman
of the Banquet Committee for the
District of Columbia Building and
Loan League, announced last night
that present indications pointed to
an attendance of 600, which would
Set new high for the annual affair.
Assisted by Rudolph w. Santel-
mann, Chairman Cook has ap-
pointed several special committees
to handle the details of the dinner
which will be held on March % at
the MayfloWer Hotel.
The general committee is COM
: posed of William N. Payne. jr.; Fred.
A. Smith, Robert E. Buckley, Odell
Smith, Schuyler S. Symons, C. H.
Marshall, Wilfred H. Blanz, Edward
c. Baltz, George M. Emmerich. Carl
H, Ellingson, Joseph D. Fitzgerald,
F. Wilson Camp Carl J. Bergman,
w. H. Dyer, Edward K. Jones, j.
Hawley Smith, Clarence E. Kefauver,
Edward l.. McAleer, Arthur G.
Bishop, sChapin B. Bauman, E. J.
Carlson and James M. Woodward
A reception will be held prior to
the banquet when distinguished
guests will be greeted by a special
committee. Messrs. Payne, Buckley
and Bishop will head this group.
Higher Fees Start Friday.
Washington Offices of New York
Stock Exchange firms are notifying
their clients of the higher fees for
various services which 60 into effect
next Friday, March L. The charges
refer to the making of extra finan-
cial statements, cutting of coupons,
transfer of stock, keeping track of
securities in vaults and other serv-
ices. The higher fees are not ex-
pected to make any marked differ
ence in the cost of brokerage serv-
ice They have been considerably
modified since first drawn up in
New York.
John w. Hanes, former Under
secretary of the Treasury, has ad-
vised Federal Judge Leibell that he
will not accept an appointment as
trustee for the Associated Gas g.
Electric Co. Mr.. Hanes' name had
been mentioned frequently as pos
sible appointee. The Securities and
Exchange Commission recently de-
clined to suggest any trustees.
Financial District Comment.
Bankers are much interested in
the report that Senator Wagner is
to head a subcommittee of the
Senate Banking and Currency CON-
mittee which will study the idle
funds situation and seek ways for
encouraging the flow of these funds
into investment channels. Senators
Bankhead, Adams. Radcliffe, Brown.
Clark. Downey, Frazier and Tobey
are the other members of the COM
mittee.
The Commerce Department re-
ports that the dollar value of sales of
new automobiles during January
established new record for the
month. Sales we're about a third
larger than last year and 7 per cent
above January, 1887.
= Ten shares of Lincoln Service
Corp. common stock sold at 20 on
the Washington Stock Exchange yes
terday. Bonds were quiet, the fea-
ture of the week being the advance
TO 102 by Anacostia & Potomac River
r. r. first IS.
Controller Preston Delano re-
ports that national bank deposits
l.: