Evening star., 1940-12-06
Bank Report Shows
Capital Building
Led District
Baltimore Is Listed
Second in October
Compilation
By EDWARD C. STONE.

Details from the monthly report
Of the Federal Reserve Bank of
Richmond received here today dis
close that Washington led the fifth
district in building permits in Oc-
tober with a valuation of 5,149 1870,
Baltimore was second with $1,7S9,-
O86 and Norfolk came third with
$1.082, ,203.
Building permits in 80 cities we're
IS per cent lower than in October
a year ago. the report states How
ever, most of the emergency con-
struction resulting from the defense
program is in rural, suburban or
small town areas and does not ap-
pear in building permits but does
appear in contract awards.
October contract awards in the
fifth district scared 83 per cent
over October, 1889. reaching a total
of s51,758000, against S28,276,000 in
the same month in 1889. This figure
has been exceeded only six times
in the past 233 months and only
once since 1929, the bank review
states.
Auto Sales Rise Sharply.
Next to building awards in Oc-
tober were percentage gains in au-
tomobile sales, the survey says. New
automobile registrations in the fifth
district totaled 22,610 cars, a gain
of 48 per cent over October a year
ago and JIG per cent over Septem-
ber, 1910
According to R. L. Polk figures,
3,109 new passenger cars were sold
in Washington in October, against
2,221 year ago, jump of 40 per
cent. Cars sold in the Capital
=; in the first 10 months of this year
numbered 1854, compared with
21,412 in the like 1899 period, an
increase of 10 per cent.
Automobile sales in Maryland to-
tailed 4454 in October. 73 per cent
better than last year, and 4ll23 in
the 10 months, gain of % per
cent. In Virginia registrations to-
tailed 4,358 in October, up As per
cent and 46,l27 in the 10 months,
an upturn of 33 per cent
Bank Accounts Very Active.
The Richmond bank reports bank
+. checks very active, debts to indi-
vidual accounts in 25 cities amount
ing to S1.572 148 0OO ahead of the
previous month by 20 per cent and
II per cent above october. 1899. In
Washington debts ran II per cent
ahead of october last year.
Sales in 30 department stores in
the fifth district totaled S12 ,795 ,009
in October, 13 per cent better than
last year and IA per cent above the
previous month this year. Sales in
Al furniture stores in October
reached s1,563,62O, up per cent
from last year.
The review reveals sales of 1874
wholesale firms as S12513000, a
stepping up of u per cent over
october, 1889. There was a drop
Of % per cent in the number of
business failures and "a per cent in
total liabilities.
Employment in the fifth district
Is increasing steadily, the report
says. In Washington there was a
gain of 4.6 per cent in the number
on pay rolls and 80 per cent in the
amount of pay rolls. Purchasing
power is increasing all over the
district.
Hampton Roads shipyards have
millions in contracts. and the air
plane industry in Maryland holds
large orders. Cotton mills are op-
Grating near record levels as the
defense program spreads, the re-
view adds.
Bankers to Press Loans.
Wilmer j. Waller vice president
and cashier of the Hamilton Ma
tional Bank, who is member of
the American Bankers Associa-
! tion's Committee on Defense Loans
: and chairman for the fifth district.
has called meeting of bankers to
be held in Richmond next Thurs
day at the John Marshall Hotel.
, President A. NJ McLachlen of
the District Bankers Association
and Secretary Donald w. Larson
will attend, as will the head officers
Of the State Bankers Associations
IN the fifth district. j. Harvey
Wilkinson of Richmond, chairman
OF the A. B. A. Bank Management
Commission, will take an active
part in the meeting. R. w. Mercer
from the Richmond Reserve Bank,
w. r. Milford of the Baltimore
branch and w. T. Clements. Char
lotte branch, also will attend.
The purpose of the meeting is to
help the bankers of the fifth dis
trict cooperate in every possible
way in extending loans under the
. defense program. Banks in the
, fifth district already have made
good many such loans under the
new assignment of contract regula-
tons. They want to make many
more.
: At the Richmond meeting ways of
reaching borrowers and steps re-
quired in making the loans will be
covered in detail Interest rates
will be the figure prevailing in the
territory where such loans are
made.
Bank Pays Dividend. Bonus.
Directors of the Second National
Bank have declared the semi-annual
installment of the per cent per
annum dividend, payable December
81 to stockholders of record De-
cember 20. President John A. Reilly
announced today. At the same
meeting the surplus account was
ordered increased in the sum of
$25,0o0
Second National directors recently
awarded Christmas bonus of three
quarters of months salary to all
employees who have been in the serv-
ice for at least one year.
Directors of the Security Savings
& Commercial Bank have declared
extra Christmas compensation for all
officers and employees of the bank,
salaries.
Another Dividend Declared.
The Board of Directors of the